Santander Holdings USA, Inc.
For the period ended Dec 31, 2023. Filed Mar 4, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 4, 2024
SNUS-PH$25.15+23.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations
| Year ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| INTEREST INCOME: | |||
| Loans | $8,270,437 | $7,027,748 | $7,045,658 |
| Interest-earning deposits | 773,966 | 223,787 | 25,894 |
| Interest and fees on federal funds sold and securities purchased under resale agreements or similar arrangements | 2,415,539 | 682,198 | 1,164 |
| Investment securities: | |||
| AFS | 269,676 | 167,922 | 107,659 |
| HTM | 185,071 | 160,690 | 103,911 |
| Trading securities | 397,595 | 138,913 | — |
| Other investments | 42,806 | 19,935 | 8,643 |
| TOTAL INTEREST INCOME | 12,355,090 | 8,421,193 | 7,292,929 |
| INTEREST EXPENSE: | |||
| Deposits and other customer accounts | 1,544,186 | 304,534 | 87,103 |
| Interest expense on federal funds purchased and securities loaned or sold under repurchase agreements | 2,739,050 | 720,800 | 415 |
| Interest expense on trading liabilities | 142,120 | 64,686 | 941 |
| Borrowings and other debt obligations | 2,054,386 | 1,156,710 | 1,014,949 |
| TOTAL INTEREST EXPENSE | 6,479,742 | 2,246,730 | 1,103,408 |
| NET INTEREST INCOME | 5,875,348 | 6,174,463 | 6,189,521 |
| Credit loss expense / (benefit) | 2,226,438 | 2,018,817 | (207,349) |
| NET INTEREST INCOME AFTER CREDIT LOSS EXPENSE / (BENEFIT) | 3,648,910 | 4,155,646 | 6,396,870 |
| NON-INTEREST INCOME: | |||
| Consumer and commercial fees | 349,357 | 399,448 | 437,041 |
| Capital markets and foreign exchange income | 195,808 | 179,843 | 250,268 |
| Lease income | 2,462,990 | 2,650,668 | 2,899,816 |
| Miscellaneous income, net (1) | 311,655 | 480,762 | 850,581 |
| TOTAL FEES AND OTHER INCOME | 3,319,810 | 3,710,721 | 4,437,706 |
| Net gain on sale of investment securities | 145,039 | 18,542 | 14,481 |
| TOTAL NON-INTEREST INCOME | 3,464,849 | 3,729,263 | 4,452,187 |
| GENERAL, ADMINISTRATIVE AND OTHER EXPENSES: | |||
| Compensation and benefits | 2,065,108 | 2,001,243 | 1,975,292 |
| Occupancy and equipment expenses | 667,205 | 653,820 | 663,660 |
| Technology, outside service, and marketing expense | 729,208 | 656,038 | 605,464 |
| Loan expense | 356,480 | 287,419 | 319,287 |
| Lease expense | 1,925,279 | 2,036,715 | 2,032,206 |
| Other expenses | 583,723 | 501,544 | 548,258 |
| TOTAL GENERAL, ADMINISTRATIVE AND OTHER EXPENSES | 6,327,003 | 6,136,779 | 6,144,167 |
| INCOME BEFORE INCOME TAX | 786,756 | 1,748,130 | 4,704,890 |
| Income tax (benefit) / provision | (146,146) | 343,123 | 1,083,583 |
| NET INCOME INCLUDING NCI | 932,902 | 1,405,007 | 3,621,307 |
| LESS: NET INCOME ATTRIBUTABLE TO NCI | — | — | 638,945 |
| NET INCOME | $932,902 | $1,405,007 | $2,982,362 |
(1) Includes equity investment income/(expense), net.
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