Sallie Mae 2015 Annual Report Download - page 129
Download and view the complete annual report
Please find page 129 of the 2015 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.-
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
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
-
229
-
230
-
231
-
232
-
233
-
234
-
235
-
236
-
237
-
238
-
239
-
240
-
241
-
242
-
243
-
244
-
245
-
246
-
247
-
248
-
249
-
250
-
251
-
252
-
253
-
254
-
255
-
256
-
257
 |
 |
SLM CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
(Dollars in thousands, unless otherwise noted)
8. Deposits (Continued)
F-39
Interest bearing deposits at December 31, 2015 and 2014 are summarized as follows:
December 31, 2015 December 31, 2014
Amount
Year-End
Weighted
Average Stated
Rate(1) Amount
Year-End
Weighted
Average Stated
Rate(1)
Money market . . . . . . . . . . . . . . . . . . . . . . $ 4,886,299 1.19% $ 4,527,448 1.15%
Savings. . . . . . . . . . . . . . . . . . . . . . . . . . . . 669,254 0.82 703,687 0.81
Certificates of deposit . . . . . . . . . . . . . . . . 5,931,453 0.98 5,308,818 1.00
Deposits - interest bearing. . . . . . . . . . . . $ 11,487,006 $ 10,539,953
___
(1) Includes the effect of interest rate swaps in effective hedge relationships.
Certificates of deposit remaining maturities are summarized as follows:
December 31,
2015 2014
One year or less . . . . . . . . . . . . . . . . . . . . . . . . $ 2,667,980 $ 1,717,891
After one year to two years . . . . . . . . . . . . . . . 1,210,429 1,038,778
After two years to three years . . . . . . . . . . . . . 1,053,442 948,490
After three years to four years . . . . . . . . . . . . . 630,851 846,976
After four years to five years. . . . . . . . . . . . . . 203,704 577,827
After five years . . . . . . . . . . . . . . . . . . . . . . . . 165,047 178,856
Total. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 5,931,453 $ 5,308,818
As of December 31, 2015 and 2014, there were $709.9 million and $254.0 million of deposits exceeding FDIC insurance
limits. Accrued interest on deposits was $15.7 million and $16.1 million at December 31, 2015 and 2014, respectively.
Non-Interest Bearing
Non-interest bearing deposits were $0.7 million and $0.6 million as of December 31, 2015 and 2014, respectively. For
both periods, these were comprised of money market accounts related to our Employee Stock Purchase Plan account. See Note
14, “Stock-Based Compensation Plans and Arrangements” for additional details regarding this plan.