Sallie Mae 2014 Annual Report Download - page 51

Download and view the complete annual report

Please find page 51 of the 2014 Sallie Mae annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 146

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146

Allowance for Loan Losses
Education Loan Allowance for Loan Losses Activity
Years Ended December 31,
2014
2013
2012
(Dollars in thousands)
Private
Education
Loans
FFELP
Loans
Total
Portfolio
Private
Education
Loans
FFELP
Loans
Total
Portfolio
Private
Education
Loans
FFELP
Loans
Total
Portfolio
Beginning balance ...........
$
61,763
$
6,318
$
68,081
$
65,218
$
3,971
$
69,189
$
69,090
$
402
$
69,492
Less:
Charge-offs .................
(14,442
)
(2,996
)
(17,438
)
—
(2,037
)
(2,037
)
—
(100
)
(100
)
Student loan sales .........
(53,485
)
—
(53,485
)
(68,410
)
—
(68,410
)
(66,319
)
—
(66,319
)
Plus:
Recoveries ....................
1,155
—
1,155
—
—
—
—
—
—
Provision for loan losses ...
83,583
1,946
85,529
64,955
4,384
69,339
62,447
3,669
66,116
Ending balance ...............
$
78,574
$
5,268
$
83,842
$
61,763
$
6,318
$
68,081
$
65,218
$
3,971
$
69,189
Troubled debt
restructuring
(1)
...........
$
60,278
$
—
$
60,278
$
—
$
—
$
—
$
—
$
—
$
—
Years Ended December 31,
2011
2010
(Dollars in thousands)
Private
Education
Loans
FFELP
Loans
Total
Portfolio
Private
Education
Loans
FFELP
Loans
Total
Portfolio
Beginning balance ...........
$
49,738
$
201
$
49,939
$
38,504
$
206
$
38,710
Less:
Charge-offs .................
—
(98
)
(98
)
—
(142
)
(142
)
Student loan sales .........
(65,685
)
—
(65,685
)
(46,482
)
—
(46,482
)
Plus:
Recoveries ....................
—
—
—
—
—
—
Provision for loan losses ...
85,037
299
85,336
57,716
137
57,853
Ending balance ...............
$
69,090
$
402
$
69,492
$
49,738
$
201
$
49,939
Troubled debt
restructuring
(1)
...........
$
—
$
—
$
—
$
—
$
—
$
—
_________
(1) Represents the recorded investment of loans classified as troubled debt restructuring.
49