Santander Holdings USA, Inc.
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 2024
SNUS-PH$25.16+0.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Operations for the and
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
| Three months ended September 30, | Nine months ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| INTEREST INCOME: | ||||
| Loans | $2,166,424 | $2,115,442 | $6,443,691 | $6,149,657 |
| Interest-earning deposits | 222,492 | 218,925 | 648,631 | 572,074 |
| Interest and fees on federal funds sold and securities purchased under resale agreements or similar arrangements | 728,670 | 580,720 | 2,210,518 | 1,797,354 |
| Investment securities: | ||||
| AFS | 93,057 | 66,773 | 287,729 | 199,769 |
| HTM | 54,371 | 46,173 | 145,165 | 139,719 |
| Trading securities | 150,944 | 106,921 | 414,215 | 282,479 |
| Other investments | 10,372 | 12,172 | 35,304 | 30,144 |
| TOTAL INTEREST INCOME | 3,426,330 | 3,147,126 | 10,185,253 | 9,171,196 |
| INTEREST EXPENSE: | ||||
| Deposits and other customer accounts | 527,556 | 440,239 | 1,545,493 | 1,086,496 |
| Interest expense on federal funds purchased and securities loaned or sold under repurchase agreements | 860,769 | 675,050 | 2,589,950 | 2,012,023 |
| Interest expense on trading liabilities | 45,507 | 33,273 | 129,342 | 102,964 |
| Borrowings and other debt obligations | 609,471 | 527,883 | 1,756,708 | 1,497,366 |
| TOTAL INTEREST EXPENSE | 2,043,303 | 1,676,445 | 6,021,493 | 4,698,849 |
| NET INTEREST INCOME | 1,383,027 | 1,470,681 | 4,163,760 | 4,472,347 |
| Credit loss expense | 431,339 | 856,292 | 1,317,569 | 1,607,543 |
| NET INTEREST INCOME AFTER CREDIT LOSS EXPENSE | 951,688 | 614,389 | 2,846,191 | 2,864,804 |
| NON-INTEREST INCOME: | ||||
| Consumer and commercial fees | 104,948 | 79,440 | 285,027 | 258,271 |
| Capital markets and foreign exchange income | 102,075 | 103,675 | 316,349 | 217,561 |
| Lease income | 535,872 | 617,962 | 1,688,602 | 1,866,968 |
| Miscellaneous income, net (1) | 7,099 | 83,316 | 264,388 | 283,705 |
| TOTAL FEES AND OTHER INCOME | 749,994 | 884,393 | 2,554,366 | 2,626,505 |
| Net gain on sale of investment securities | 55,117 | 37,048 | 184,304 | 108,556 |
| TOTAL NON-INTEREST INCOME | 805,111 | 921,441 | 2,738,670 | 2,735,061 |
| GENERAL, ADMINISTRATIVE AND OTHER EXPENSES: | ||||
| Compensation and benefits | 532,890 | 528,465 | 1,600,393 | 1,519,614 |
| Occupancy and equipment expenses | 157,017 | 160,608 | 473,847 | 505,226 |
| Technology, outside service, and marketing expense | 196,345 | 184,168 | 575,244 | 523,190 |
| Loan expense | 87,287 | 86,729 | 254,822 | 276,420 |
| Lease expense | 442,947 | 479,991 | 1,334,384 | 1,455,820 |
| Other expenses | 179,221 | 123,883 | 469,325 | 383,861 |
| TOTAL GENERAL, ADMINISTRATIVE AND OTHER EXPENSES | 1,595,707 | 1,563,844 | 4,708,015 | 4,664,131 |
| INCOME / (LOSS) BEFORE INCOME TAX | 161,092 | (28,014) | 876,846 | 935,734 |
| Income tax (benefit) | (32,187) | (147,767) | (74,254) | (54,937) |
| NET INCOME | $193,279 | $119,753 | $951,100 | $990,671 |
(1) Includes equity investment income/(expense), net.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.