Sallie Mae Bank

For information concerning Sallie Mae Bank, a subsidiary of Sallie Mae Bank, please see the Sallie Mae Bank page here.

Branches

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Sallie Mae Bank Locations

Deposit Rates - March 1, 2021

CD RATES APY MIN MAX
6 Mo CD
0.30% $2,500 - Compare
12 Mo CD
0.50% $2,500 - Compare
18 Mo CD
0.55% $2,500 - Compare
24 Mo CD
0.60% $2,500 - Compare
36 Mo CD
0.60% $2,500 - Compare
60 Mo CD
0.60% $2,500 - Compare
MM RATES APY MIN MAX
Money Market
0.45% $0 - Compare

Overview 2021

General Bank Information

FDIC Insured Yes
FDIC Certificate # 58177
Date Established 2005
Assets $ 30.56 billion
Loans $ 21.73 billion
Deposits $ 23.25 billion
Capital $ 2.20 billion

Summary Balance Sheet

ASSETS
Cash & Balances due from depository institutions $ 4.51 billion
Interest-bearing balances $ 4.45 billion
Total securities $ 2.09 billion
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 21.73 billion
Loan loss allowance $ 1,734.56 million
Trading account assets $ 14.65 million
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 0.93 million
All other assets $ 2.10 billion
     Total Assets $ 28.36 billion

LIABILITIES
Total deposits $ 23.25 billion
      Interest-bearing deposits $ 23.25 billion
      Deposits held in domestic offices $ 23.25 billion
      % insured (estimated) 96.48%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 4.75 billion
Subordinated debt N.A.
All other liabilities $ 361.11 millionn
      Total Liabilities $ 28.36 billion
      Shareholders’ Equity $ 2.20 billion

Summary Income Statement

INCOME AND EXPENSES
Total Interest Income $ 1,548.08 million
Total Interest Expense $ 421.82 million
Net interest income $ 1,126.26 million
Provision for loan and lease losses $ 412.97 million
Total non interest income $ 321.36 million
Total non interest expense $ 404.62 million
Pre-tax Net Operating Income $ 630.02 million

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 $31 billion in assets. Customers can open an account at one of its 1 branches.