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 $29 billion in
assets. Customers can open an account at one of its 1 branches.
Get your money up to 5x faster than the industry standard*
Fixed rate on each draw*
No paperwork needed to apply
Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for
taxes and insurance premiums. Click here for more information on rates and product details.
Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for
taxes and insurance premiums. Click here for more information on rates and product details.
Overview 2024
General Bank Information
FDIC Insured
Yes
FDIC Certificate
# 58177
Date Established
2005
Assets
$ 28.73 billion
Loans
$ 18.97 billion
Deposits
$ 21.07 billion
Capital
$ 2.83 billion
Summary Balance Sheet as of March 31, 2024
ASSETS
Cash & Balances due from depository institutions
$ 5.40 billion
Interest-bearing balances
$ 5.36 billion
Total securities
$ 2.28 billion
Federal funds sold and reverse repurchase
N.A.
Net loans and leases
$ 18.97 billion
Loan loss allowance
$ 1,269.65 million
Trading account assets
$ 60.47 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
$ 25.90 billion
LIABILITIES
Total deposits
$ 21.07 billion
Interest-bearing deposits
$ 21.02 billion
Deposits held in domestic offices
$ 21.07 billion
% insured (estimated)
94.62%
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
$ 25.90 billion
Shareholders’ Equity
$ 2.83 billion
Summary Income Statement as of March 31, 2024
INCOME AND EXPENSES
Total Interest Income
$ 1,313.91 million
Total Interest Expense
$ 531.78 million
Net interest income
$ 782.13 million
Provision for loan and lease losses
$ 28.91 million
Total non interest income
$ 320.14 million
Total non interest expense
$ 286.30 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: Columbus, OH
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.