SLM Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported net interest income of $245,434,000 compared to $187,846,000 a year ago. Income before income tax expense was $113,364,000 against $144,760,000 a year ago. Net income attributable to the company common stock was $64,736,000 against $84,856,000 a year ago. The year-over-year decrease was primarily attributable to a $58-million decrease in gains on sales of loans, net, a $13-million increase in provision for credit losses, and a $13-million increase in total non-interest expenses, which were offset by a $58-million increase in net interest income and a $12-million decrease in income tax expense. Diluted and basic earnings per share were $0.15 against $0.20 a year ago. Core earnings attributable to the company common stock were $67,440,000 or $0.15 per diluted share against $84,632,000 or $0.20 per diluted share a year ago. Return on assets was 1.5% against 2.5% a year ago.

For the full year, the company reported net interest income of $891,338,000 compared to $702,499,000 a year ago. Income before income tax expense was $414,436,000 against $439,064,000 a year ago. Net income attributable to the company common stock was $229,123,000 against $254,689,000 a year ago. Diluted earnings per share were $0.54 against $0.59 a year ago. Core earnings attributable to the company common stock were $231,051,000 or $0.53 per diluted share against $253,551,000 or $0.59 per diluted share a year ago. Return on assets was 1.5% against 2% a year ago.

For 2017, the company expects earnings of $0.67 to $0.69 per share.