SLM Corporation - SLM STOCK NEWS

Sallie Mae (Nasdaq: SLM) reported a fourth-quarter net loss attributable to common stock of $81 million, translating to a $0.33 loss per share. In contrast, the full-year 2022 net income was $460 million, or $1.76 per diluted share. Key factors impacting earnings included a $297 million provision for credit losses and a $60 million write-down on non-marketable equity securities. The company also achieved a full-year net interest margin of 5.31%, a 10% increase from the previous year, and private education loan originations of $6 billion, up 10% year-over-year.

Sallie Mae® (Nasdaq: SLM) announces that Chief Financial Officer Steve McGarry will address attendees at the Credit Suisse Financial Services Forum on February 14 at 8:35 a.m. ET. This forum provides a platform for discussing financial services trends and innovations. A live audio webcast of the event will be available, along with a replay at SallieMae.com/investors. Sallie Mae remains a leader in private student lending, focusing on financing education and lifelong learning.

Sallie Mae (Nasdaq: SLM) has declared its 2023 first-quarter dividend for both Preferred Stock Series B and common stock. The preferred dividend is set at $1.6090725 per share, while the common stock dividend is $0.11 per share. Both dividends are scheduled for payment on March 15, 2023, to shareholders recorded by the close of business on March 3, 2023.

This announcement reflects Sallie Mae's commitment to delivering value to its shareholders through consistent dividend payments.

Sallie Mae has awarded the Bridging the Dream Scholarship to 10 graduate students, each receiving $10,000 aimed at promoting social justice in their communities. This initiative, executed in partnership with the Thurgood Marshall College Fund, reflects Sallie Mae's commitment to education access, particularly for individuals from underserved communities. Since its inception, the Sallie Mae Fund has committed $3 million over three years, granting a total of $2 million across 600 scholarships. Applications for the upcoming scholarship cycle open on Feb 6, 2023.

Sallie Mae (Nasdaq: SLM) will announce its Q4 and full-year 2022 financial results on February 1, 2023, after market close. A conference call is scheduled for February 2, 2023, at 8 a.m. ET, where a live audio webcast and presentation slides will be accessible. Interested investors can pre-register for the earnings call and find the earnings news release on the company’s investor website. Sallie Mae is dedicated to providing financing for education, promoting lifelong learning, and supporting access to college.

Sallie Mae (Nasdaq: SLM) has appointed Kerri Palmer as Chief Operational Officer and President of Sallie Mae Bank, succeeding Dan Kennedy. Palmer, who previously held the position of Chief Risk Officer, will now oversee credit performance, underwriting, and customer service. With over 20 years of experience, including a background at Capital One, she aims to enhance operational efficiency. CEO Jon Witter emphasized her proven leadership during uncertain economic times.

Engageware has appointed Nina Vellayan as its new CEO, bringing over 25 years of experience in software and technology to the role. Vellayan is expected to lead the company's continued growth, capitalizing on its record annual recurring revenue and profitability. With a focus on enhancing customer engagement solutions for financial institutions and expanding into specialty retail, healthcare, and education, Engageware is well-positioned for future success. Previously, Vellayan held senior roles at various financial and technology firms, including COO of Official Payments (NASDAQ: OPAY) and CEO of Sallie Mae (NASDAQ: SLM).

Sallie Mae (Nasdaq: SLM) announced the appointment of R. Scott Blackley to its board of directors, effective immediately. Blackley, currently Chief Financial Officer at Oscar Health, brings extensive expertise in financial services, strategy, and operations. His past roles include CFO at Capital One, where he served from May 2016 to March 2021. The board chair, Carter Franke, expressed confidence in Blackley’s ability to contribute to the company's strategic priorities.

Sallie Mae has awarded the Bridging the Dream Scholarship to 25 high school seniors from diverse backgrounds, providing each with $10,000 to support their higher education goals. The recipients were chosen from over 1,000 applicants and are recognized for their academic and extracurricular achievements. This initiative is part of a $3 million commitment by the Sallie Mae Fund to increase access to education for underserved communities. The program aims to address the financial barriers faced by low-income students.