Sallie Mae reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total interest income of $399,496,000 against $300,013,000 a year ago. Net interest income was $309,191,000 against $245,434,000 a year ago. Income before income tax expense was $113,193,000 against $113,364,000 a year ago. Net income attributable to company's common stock was $43,866,000 against $64,736,000 a year ago. Diluted earnings per common share attributable to the company were $0.10 against $0.15 a year ago. “Core Earnings” attributable to company's stock were $44,302,000 against $67,440,000 a year ago. “Core Earnings” diluted earnings per common share were $0.10 against $0.15 a year ago.

For the full year, the company reported total interest income of $1,437,303,000 against $1,077,246,000 a year ago. Net interest income was $1,129,221,000 against $891,338,000 a year ago. Income before income tax expense was $491,465,000 against $414,436,000 a year ago. Net income attributable to company's common stock was $273,220,000 against $229,123,000 a year ago. Diluted earnings per common share attributable to the company were $0.62 against $0.53 a year ago. “Core Earnings” attributable to company's stock were $278,286,000 against $231,051,000 a year ago. “Core Earnings” diluted earnings per common share were $0.63 against $0.53 a year ago.

The company expects its effective income tax rate to be approximately 26% in 2018 as a result of the Tax Act. The company expects full-year 2018 diluted core earnings per share of $0.97 to $1.01.