For information concerning Sallie Mae Bank online bank, please click here .
Sallie Mae Bank is an FDIC insured institution headquartered at
175 S West Temple, Salt Lake City, UT 84101.
It was founded in
2005 and has approximately $30 billion in assets. Customers can open an account at one of its 1 branches.
Get your money up to 6x faster than the industry standard*
Fixed rate on each draw*
No paperwork needed to apply
Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. Click here for more information on rates and product details.
We approve credit scores as low as 550 for VA and FHA refinancing
Family-owned, 35+ years of cash out assistance
A top FHA and VA lender
Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes, insurance premiums or private mortgage insurance if applicable. Actual payments will be greater with taxes and insurance included. Click here for more information on rates and product details.
Overview 2025
General Bank Information
FDIC Insured
Yes
FDIC Certificate
# 58177
Date Established
2005
Assets
$ 30.04 billion
Loans
$ 20.96 billion
Deposits
$ 21.46 billion
Capital
$ 2.68 billion
Summary Balance Sheet as of December 31, 2024
ASSETS
Cash & Balances due from depository institutions
$ 4.87 billion
Interest-bearing balances
$ 4.82 billion
Total securities
$ 1,933.23 million
Federal funds sold and reverse repurchase
N.A.
Net loans and leases
$ 20.96 billion
Loan loss allowance
$ 1,441.61 million
Trading account assets
$ 53.26 million
Bank premises and fixed assets
N.A.
Other real estate owned
N.A.
Goodwill and other intangibles
N.A.
All other assets
$ 1,633.81 million
Total Assets
$ 27.35 billion
LIABILITIES
Total deposits
$ 21.46 billion
Interest-bearing deposits
$ 21.40 billion
Deposits held in domestic offices
$ 21.46 billion
% insured (estimated)"
94.01%
Federal funds purchased and repurchase agreements
N.A.
Trading liabilities
N.A.
Other borrowed funds
$ 4.23 billion
Subordinated debt
N.A.
All other liabilities
$ 412.16 millionn
Total Liabilities
$ 27.35 billion
Shareholders’ Equity
$ 2.68 billion
Summary Income Statement as of December 31, 2024
INCOME AND EXPENSES
Total Interest Income
$ 2.63 billion
Total Interest Expense
$ 1,110.02 million
Net interest income
$ 1,523.65 million
Provision for loan and lease losses
$ 414.39 million
Total non interest income
$ 383.77 million
Total non interest expense
$ 576.63 million
Pre-tax Net Operating Income
$ 680.06 million
Customer Reviews for Sallie Mae Bank (3)
Rated 1.00 stars out of 5 - based on 3 reviews
JPreston
January 7, 2023 |
Called and asked them to match rates offered through save better for a 15 year client since directly offered rates are no longer competitive. Received nasty response. My only regret now is that I need to call back to close account (cannot do it online).
JTrenert
August 30, 2022 |
It is ludicrous in this day and age to have an account where it takes so long to get your money. This may be Sallie's racket, but I am out.
terrible for existing users
July 13, 2022 |
Sallie Mae is offering a 10-month no penalty cd at 1.85% and a 14-month no penalty cd at 2.20 on something called save better. These are like cash rates since the can be withdrawn after 6 days with no penalty, but if you are an existing customer (like me, for over 10 years) you cannot take advantage of these. They aren't available through the regular website.
Branches
Click on location and enter new zip number to change."
Your current location is: Seattle, WA
JPreston
January 7, 2023 |
Called and asked them to match rates offered through save better for a 15 year client since directly offered rates are no longer competitive. Received nasty response. My only regret now is that I need to call back to close account (cannot do it online).
JTrenert
August 30, 2022 |
It is ludicrous in this day and age to have an account where it takes so long to get your money. This may be Sallie's racket, but I am out.
terrible for existing users
July 13, 2022 |
Sallie Mae is offering a 10-month no penalty cd at 1.85% and a 14-month no penalty cd at 2.20 on something called save better. These are like cash rates since the can be withdrawn after 6 days with no penalty, but if you are an existing customer (like me, for over 10 years) you cannot take advantage of these. They aren't available through the regular website.