Sallie Mae, formally SLM Corporation posted a profit in the third quarter.
The student lender is based near Newark.
“The quarter further confirms the rebound of our private credit business,” said Albert L. Lord, CEO. “While our balance sheet and earnings quality grow, so do our future prospects.”
For the third-quarter 2012, GAAP net income was $188 million, compared with net loss of $47 million for third quarter of last year.
In third-quarter 2012, Sallie Mae paid a common stock dividend of $0.125 per share and repurchased 7.6 million shares of common stock for $121 million.
Click on the link below for further details:
via Sallie Mae Reports Third-Quarter 2012 Financial Results.
