SNUS-PH 8-K
Santander Holdings USA, Inc. (SNUS-PH)
8-K
2024-03-04
For: 2024-03-04
View Original
Added on
August 21, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 4, 2024
(Exact name of registrant as specified in its charter)
| (State or other Jurisdiction of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||||||||
| (Address of Principal Executive Offices) | (Zip Code) | |||||||||||||||||||
Registrant's telephone number, including area code: (800 ) 493-8219
| N/A | ||
| (Former name or former address if changed since last report.) | ||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbols | Name of each exchange on which registered | ||||||
| Not applicable | ||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act (17 CFR 230.405) or Rule 12b-2 of the Exchange Act (17 CFR 240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐
Item 2.02 Results of Operations and Financial Condition
Item 7.01 Regulation FD Disclosure
Santander Holdings USA, Inc. (the “Company”) is furnishing copies of slides which will be used in connection with presentations on one or more occasions. The presentation materials are attached hereto as Exhibit 99.1 and incorporated herein solely for purposes of Items 2.02 and 7.01.
The information contained in the attached presentation materials is summary information that is intended to be considered in the context of the Company’s Securities and Exchange Commission filings and other public announcements. The Company undertakes no duty or obligation to publicly update or revise this information, although it may do so from time to time.
The information in Items 2.02 and 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities under that Section. Further, the information in Items 2.02 and 7.01 of this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933. Item 7.01 of this Current Report on Form 8-K will not be deemed an admission as to the materiality of any information in this Current Report on Form 8-K that is required to be disclosed solely by Regulation FD.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | Description | |||||||
| 99.1 | ||||||||
| 104 | Cover page formatted as Inline XBRL and contained in Exhibit 101 | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: March 4, 2024 | SANTANDER HOLDINGS USA, INC. By:/s/ Gerard A. Chamberlain Name: Gerard A. Chamberlain Title: Senior Deputy General Counsel and Executive Vice President | ||||
1
$882 $867 $848 $828 $470 4Q22 1Q23 2Q23 3Q23 4Q23 NII ($MM) PRE-TAX INCOME ($MM) NET INCOME ($MM) PRE-PROVISION NET REVENUE (“PPNR”) ($MM) ▪ ▪ $1,562 $1,510 $1,491 $1,471 $1,403 4Q22 1Q23 2Q23 3Q23 4Q23 $121 $325 $639 ($28) ($149) 4Q22 1Q23 2Q23 3Q23 4Q23 $123 $297 $574 $120 ($58) 4Q22 1Q23 2Q23 3Q23 4Q23
▪ ▪ ▪45 44 44 45 44 23 23 22 20 19 18 19 19 19 19 14 14 14 14 14 8 8 8 7 7 4 5 5 5 4 $112 $113 $112 $110 $107 4Q22 1Q23 2Q23 3Q23 4Q23 98 99 98 96 93 24 26 25 25 25 22 26 21 20 20 14 14 14 14 14 10 13 13 11 13 $168 $178 $171 $166 $165 4Q22 1Q23 2Q23 3Q23 4Q23
61 61 62 61 61 44 46 46 43 44 27 35 27 28 26 18 18 19 18 18 18 18 17 16 16 $168 $178 $171 $166 $165 4Q22 1Q23 2Q23 3Q23 4Q23 30 27 27 25 25 18 18 17 16 16 13 16 18 19 20 13 13 12 12 12 5 5 5 5 4 $79 $79 $79 $77 $77 4Q22 1Q23 2Q23 3Q23 4Q23
13 ▪ ▪
• • Recoveries3Net Charge-offs1 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 Charge Offs1,2
▪ ▪ Allowance Ratios December 31, 2023 September 30, 2023 June 30, 2023 December 31, 2022 ($ in Millions) (Audited) (Unaudited) (Unaudited) (Audited) Total loans held for investment (“LHFI”) $93,047 $96,000 $97,776 $97,338 Total ACL 1 $6,993 $7,057 $6,819 $6,866 Total Allowance Ratio 7.5% 7.4% 7.0% 7.1%
$26.3B $39.4B
1 2 ▪ ▪ $0.50 6.57%
• • • CET12 TIER 1 RISK-BASED CAPITAL RATIO2 TOTAL RISK-BASED CAPITAL RATIO2 TIER 1 LEVERAGE RATIO2 1 2 13.2% 12.7% 12.8% 12.8% 12.4% 4Q22 1Q23 2Q23 3Q23 4Q23 10.2% 9.7% 10.0% 10.3% 9.8% 4Q22 1Q23 2Q23 3Q23 4Q23 13.9% 13.2% 14.2% 14.2% 14.3% 4Q22 1Q23 2Q23 3Q23 4Q23 15.9% 15.3% 16.2% 16.3% 16.4% 4Q22 1Q23 2Q23 3Q23 4Q23
Santander1 A2/Baa1 SHUSA Baa2 (upgraded Q3 2023) SBNA2 Baa1 Santander1 A+/A- SHUSA BBB+ SBNA A- Stable outlook (June 2, 2023) • • SR. DEBT RATINGS BY SANTANDER ENTITY Santander1 A/A- SHUSA BBB+ SBNA BBB+ Stable outlook (October 19, 2023) Stable outlook (September 28, 2023)
SBNA – Retail Bank SC – Auto Finance BSI – Private Banking SANCAP3– Broker Dealer • • • • • • • • • • SHUSA 2 Santander SC operates in all 50 states Company subsidiary locations SC BSI SBNA SANCAP
▪ ▪ ▪ 16% 17% 11% 9% 9% 7% 7% 6%
▪ ▪ ▪ ▪ ▪ ▪
* Other includes the results of immaterial entities, earnings from non-strategic assets, the investment portfolio, interest expense on SBNA’s and SHUSA's borrowings and other debt obligations, amortization of intangible .assets and certain unallocated corporate income and indirect expenses
