Santander Holdings USA, Inc.
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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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.
FY2024 · Filed Mar 3, 2025
SNUS-PH$25.15+23.0%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations
| Year ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| INTEREST INCOME: | |||
| Loans | $8,580,147 | $8,270,437 | $7,027,748 |
| Interest-earning deposits | 909,851 | 773,966 | 223,787 |
| Interest and fees on federal funds sold and securities purchased under resale agreements or similar arrangements | 2,787,163 | 2,415,539 | 682,198 |
| Investment securities: | |||
| AFS | 375,810 | 269,676 | 167,922 |
| HTM | 203,291 | 185,071 | 160,690 |
| Trading securities | 564,858 | 397,595 | 138,913 |
| Other investments | 45,016 | 42,806 | 19,935 |
| TOTAL INTEREST INCOME | 13,466,136 | 12,355,090 | 8,421,193 |
| INTEREST EXPENSE: | |||
| Deposits and other customer accounts | 2,059,472 | 1,544,186 | 304,534 |
| Interest expense on federal funds purchased and securities loaned or sold under repurchase agreements | 3,283,107 | 2,739,050 | 720,800 |
| Interest expense on trading liabilities | 169,583 | 142,120 | 64,686 |
| Borrowings and other debt obligations | 2,376,416 | 2,054,386 | 1,156,710 |
| TOTAL INTEREST EXPENSE | 7,888,578 | 6,479,742 | 2,246,730 |
| NET INTEREST INCOME | 5,577,558 | 5,875,348 | 6,174,463 |
| Credit loss expense | 1,937,119 | 2,226,438 | 2,018,817 |
| NET INTEREST INCOME AFTER CREDIT LOSS EXPENSE | 3,640,439 | 3,648,910 | 4,155,646 |
| NON-INTEREST INCOME: | |||
| Consumer and commercial fees | 416,112 | 349,357 | 399,448 |
| Capital markets and foreign exchange income | 408,768 | 195,808 | 179,843 |
| Lease income | 2,178,597 | 2,462,990 | 2,650,668 |
| Miscellaneous income, net (1) | 376,731 | 311,655 | 480,762 |
| TOTAL FEES AND OTHER INCOME | 3,380,208 | 3,319,810 | 3,710,721 |
| Net gain on sale of investment securities | 224,459 | 145,039 | 18,542 |
| TOTAL NON-INTEREST INCOME | 3,604,667 | 3,464,849 | 3,729,263 |
| GENERAL, ADMINISTRATIVE AND OTHER EXPENSES: | |||
| Compensation and benefits | 2,145,506 | 2,065,108 | 2,001,243 |
| Occupancy and equipment expenses | 653,026 | 667,205 | 653,820 |
| Technology, outside service, and marketing expense | 796,899 | 729,208 | 656,038 |
| Loan expense | 333,617 | 356,480 | 287,419 |
| Lease expense | 1,708,193 | 1,925,279 | 2,036,715 |
| Other expenses | 637,227 | 583,723 | 501,544 |
| TOTAL GENERAL, ADMINISTRATIVE AND OTHER EXPENSES | 6,274,468 | 6,327,003 | 6,136,779 |
| INCOME BEFORE INCOME TAX | 970,638 | 786,756 | 1,748,130 |
| Income tax (benefit) / provision | (106,761) | (146,146) | 343,123 |
| NET INCOME | $1,077,399 | $932,902 | $1,405,007 |
(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.