Sallie Mae / SLM

About Sallie Mae

12061 Bluemont Way, Reston, Va. 20190
www.salliemae.com | 703-810-3000 | Founded: 1972

Industry: Financial Services | Category: Public Companies

After several years of acquisitions and after ending long-standing partnerships with several of the nation's largest banks, 2005 was a year of internal growth for Sallie Mae. Loan originations by its own brands rose 45 percent, accounting for $9.1 billion of the company's $21 billion in new loans.
The company also had to deal with a flood of student loan consolidations, triggered by historically low interest rates and clarification of federal rules that allowed students, including some still in school, to lock in low, fixed rates for as long as 30 years. Profit margins on such consolidated loans are lower than on some other loans, but they become a long-lived asset providing a steady flow of income over many years.
Some 62 percent of the company's $123 billion loan portfolio is now consolidated.
SLM made an acquisition last year, buying GRP Financial Services, a White Plains, N.Y., specialty finance company that purchases and "resolves" troubled mortgage loans.
Also last year, Albert L. Lord, who had been chief executive, was elected chairman, and Thomas J. "Tim" Fitzpatrick moved up to CEO from president. And in February 2006, the company named C.E. Andrews chief financial officer.

Vice chairman and CEO: Albert L. Lord

Vice chairman and CFO: John F. Remondi

2005 Financial Data

Revenues: $6,517,515,000 | Net Income: $1,382,284,000
Asssets: $99,338,684,000 | Earnings Per Share: $3.05
Stockholder Equity: $3,791,425,000 | Annual Dividend: $0.85
Total employees: 10,472 | Local employees: 914