secwatch.observer — SEC 8-K summary
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Issuer:     Santander Holdings USA, Inc. (SNUS-PI)
CIK:        0000811830
Form:       8-K
Filed at:   2022-11-15T23:59:59+00:00
Accession:  0000811830-22-000044
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

SHUSA Q3 2022 net income $228M, down 68% YoY; credit loss expense $636M
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- Net income attributable to SHUSA $228M vs $707M in Q3 2021; pre-tax income $304M vs $1,084M.
- Credit loss expense $636M vs $20M a year ago; net charge-off ratios normalizing but still below pre-pandemic.
- CET1 ratio 15.2% (down 170bps QoQ) after $1.75B dividend paid to parent Santander.
- Total loans $96.8B, up 5% YoY; auto originations $8.2B flat QoQ and up 5% YoY.
- Net interest income $1.599B, up 4% YoY; NIM 4.5% vs 4.8% in Q3 2021.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/811830/000081183022000044/0000811830-22-000044-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/811830/000081183022000044/sov-20221115.htm
  HTML page:      https://secwatch.observer/filing/0000811830-22-000044

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer