RESTON, Va. - (04/22/05) -- Student loan giant Sallie Maereported a 23% decline in first quarter net income to $223 million,or 49 cents a share, compared to the first quarter last year, basedon a fall in securitizations revenue. The company, formerly knownas SLM Corp. said pre-tax gains on its core business of thesecuritization of student loans fell to $50 million for thequarter, down from $114 million for the same period last year. Thecompany, which has grown to become the nation's leading originatorof guaranteed student loans, said it increased its preferredchannel of loan originations to $6.8 billion for the quarter, a 16%increase from the first quarter last year. The company alsocontinued to grow its portfolio and had a student loan portfolio of$112 billion at the end of the first quarter, a 21% increase from ayear ago.
-
The top five banks and thrifts had combined assets of more than $13 trillion as of December 31, 2023.
3h ago -
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
6h ago -
Many legal experts think the Supreme Court will rule in favor of the Consumer Financial Protection Bureau in a case challenging its funding. Such a ruling would unleash a flurry of litigation that has been on hold pending the outcome of the constitutional challenge.
April 23 -
Lawmakers including one of the original sponsors of the Corporate Transparency Act have filed an amicus brief in the appeal against an Alabama court ruling that the law is unconstitutional, which would throw into question Treasury's newly-established beneficial ownership structure.
April 23 -
The Connecticut bank —a regional traditionally regarded as a cautious lender — said nonperforming loans and leases rose 53% year-over-year. The uptick was in mostly the commercial-and-industrial loan space, although there was one nonperforming commercial real estate loan, executives said.
April 23 -
The two regional banks are anticipating that borrower demand will increase in the back half of the year. High interest rates and economic uncertainty have been muting the appetite for borrowing.
April 23