$SNUS-PH
Santander Holdings USA, Inc.
CIK:0000811830|SEC Filings
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2026 |
Jun. 30, 2025 |
Jun. 30, 2026 |
Jun. 30, 2025 |
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| INTEREST INCOME: | ||||||
| Loans | $ 1,990,296 | $ 2,096,464 | $ 3,984,083 | $ 4,216,697 | ||
| Interest-earning deposits | 153,782 | 269,676 | 316,542 | 514,482 | ||
| Interest and fees on federal funds sold and securities purchased under resale agreements or similar arrangements | 293,079 | 458,092 | 603,132 | 898,967 | ||
| Investment securities: | ||||||
| AFS | 94,020 | 97,768 | 181,354 | 191,138 | ||
| HTM | 98,452 | 59,259 | 195,763 | 118,993 | ||
| Trading securities | 242,503 | 189,745 | 471,668 | 356,920 | ||
| Other investments | 10,278 | 11,148 | 20,411 | 21,853 | ||
| TOTAL INTEREST INCOME | 2,882,410 | 3,182,152 | 5,772,953 | 6,319,050 | ||
| INTEREST EXPENSE: | ||||||
| Deposits and other customer accounts | 442,907 | 488,721 | 884,184 | 977,303 | ||
| Interest expense on federal funds purchased and securities loaned or sold under repurchase agreements | 421,252 | 589,783 | 850,748 | 1,151,625 | ||
| Interest expense on trading liabilities | 46,184 | 33,552 | 89,661 | 73,201 | ||
| Borrowings and other debt obligations | 451,217 | 588,675 | 932,242 | 1,177,476 | ||
| TOTAL INTEREST EXPENSE | 1,361,560 | 1,700,731 | 2,756,835 | 3,379,605 | ||
| NET INTEREST INCOME | 1,520,850 | 1,481,421 | 3,016,118 | 2,939,445 | ||
| Credit loss expense | 247,636 | 372,867 | 678,978 | 798,810 | ||
| NET INTEREST INCOME AFTER CREDIT LOSS EXPENSE | 1,273,214 | 1,108,554 | 2,337,140 | 2,140,635 | ||
| NON-INTEREST INCOME: | ||||||
| Consumer and commercial fees | 109,584 | 127,382 | 233,293 | 235,798 | ||
| Capital markets and foreign exchange income | 250,907 | 132,982 | 421,488 | 228,711 | ||
| Lease income | 284,748 | 418,981 | 605,969 | 884,709 | ||
| Miscellaneous income, net | [1] | 139,061 | 169,741 | 300,883 | 337,675 | |
| TOTAL FEES AND OTHER INCOME | 784,300 | 849,086 | 1,561,633 | 1,686,893 | ||
| Securities gains, net | 22,120 | 21,663 | 48,600 | 61,922 | ||
| TOTAL NON-INTEREST INCOME | 806,420 | 870,749 | 1,610,233 | 1,748,815 | ||
| GENERAL, ADMINISTRATIVE AND OTHER EXPENSES: | ||||||
| Compensation and benefits | 541,568 | 508,991 | 1,085,891 | 1,073,147 | ||
| Occupancy and equipment expenses | 161,437 | 172,371 | 323,235 | 357,651 | ||
| Technology, outside service, and marketing expense | 189,762 | 213,022 | 405,374 | 417,402 | ||
| Loan expense | 74,531 | 85,854 | 158,253 | 161,410 | ||
| Lease expense | 215,848 | 339,620 | 503,328 | 695,019 | ||
| Other expenses | 137,529 | 123,740 | 229,531 | 266,319 | ||
| TOTAL GENERAL, ADMINISTRATIVE AND OTHER EXPENSES | 1,320,675 | 1,443,598 | 2,705,612 | 2,970,948 | ||
| INCOME BEFORE INCOME TAX | 758,959 | 535,705 | 1,241,761 | 918,502 | ||
| Income tax provision | 174,256 | 37,961 | 242,887 | 54,884 | ||
| NET INCOME | $ 584,703 | $ 497,744 | $ 998,874 | $ 863,618 | ||
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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands |
Jun. 30, 2026 |
Dec. 31, 2025 |
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|---|---|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||||
| Cash and cash equivalents | $ 11,381,591 | $ 14,373,816 | ||||||||
| Federal funds sold and securities purchased under resale agreements or similar arrangements | 9,440,137 | 8,639,667 | ||||||||
| Investment securities: | ||||||||||
| AFS at fair value (amortized cost of $7,426,314 and $7,956,281 as of June 30, 2026 and December 31, 2025, respectively) | 6,797,351 | 7,327,735 | ||||||||
| Trading securities | 17,902,688 | 15,608,767 | ||||||||
| HTM (fair value of $11,548,907 and $11,871,362 as of June 30, 2026 and December 31, 2025, respectively) | 12,960,360 | 13,211,794 | ||||||||
| Other investments | 2,525,793 | 2,567,434 | ||||||||
| LHFI | [1] | 82,710,074 | 82,891,309 | |||||||
| ALLL | (5,818,621) | (5,999,656) | ||||||||
| Net LHFI | [2] | 76,891,453 | 76,891,653 | |||||||
| LHFS | [3] | 1,735,790 | 1,586,204 | |||||||
| Premises and equipment, net | 908,188 | 936,291 | ||||||||
| Operating lease assets, net | [2] | 6,605,992 | 8,357,063 | |||||||
| Goodwill | 2,766,665 | 2,766,665 | ||||||||
| Intangible assets, net | 197,784 | 214,027 | ||||||||
| BOLI | 2,052,765 | 2,056,456 | ||||||||
| Restricted cash | [2] | 7,240,924 | 5,322,087 | |||||||
| Other assets | [2],[4] | 5,130,968 | 4,712,462 | |||||||
| TOTAL ASSETS | 164,538,449 | 164,572,121 | ||||||||
| LIABILITIES | ||||||||||
| Accounts payables and accrued expenses | 6,909,217 | 6,042,405 | ||||||||
| Deposits and other customer accounts | 79,564,561 | 78,977,702 | ||||||||
| Federal funds purchased and securities loaned or sold under repurchase agreements | 22,135,117 | 19,460,394 | ||||||||
| Trading liabilities | 3,475,945 | 4,002,351 | ||||||||
| Borrowings and other debt obligations | [2] | 32,744,295 | 37,102,112 | |||||||
| Advance payments by borrowers for taxes and insurance | 179,521 | 146,853 | ||||||||
| Other liabilities | [2] | 1,030,122 | 895,597 | |||||||
| TOTAL LIABILITIES | 146,038,778 | 146,627,414 | ||||||||
| Commitments and contingencies (Note 14) | ||||||||||
| MEZZANINE EQUITY | ||||||||||
| Preferred stock (no par value; 7,500,000 shares authorized; 2,000,000 shares outstanding at June 30, 2026 and December 31, 2025, respectively) | 2,000,000 | 2,000,000 | ||||||||
| STOCKHOLDER'S EQUITY | ||||||||||
| Common stock and paid-in capital (no par value; 800,000,000 shares authorized; 530,391,043 shares outstanding at both June 30, 2026 and December 31, 2025, respectively) | 17,275,965 | 17,307,470 | ||||||||
| Accumulated other comprehensive loss, net of tax | (607,614) | (533,559) | ||||||||
| Accumulated deficit | (168,680) | (829,204) | ||||||||
| TOTAL STOCKHOLDER'S EQUITY | 16,499,671 | 15,944,707 | ||||||||
| TOTAL LIABILITIES, MEZZANINE AND STOCKHOLDER'S EQUITY | $ 164,538,449 | $ 164,572,121 | ||||||||
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