8-K

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): November 3, 2023

Santander Holdings USA, Inc.

(Exact name of registrant as specified in its charter)

Virginia	1-16581		23-2453088
(State or other Jurisdiction of Incorporation)	(Commission File Number)		(IRS Employer Identification No.)
75 State Street, Boston, Massachusetts		02109
(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:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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	Not Applicable	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	Presentation materials of Santander Holdings USA, Inc, dated November 3, 2023
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: November 3, 2023 SANTANDER HOLDINGS USA, INC.

By:/s/ Gerard A. Chamberlain              Name: Gerard A. Chamberlain Title: Senior Deputy General Counsel and Executive Vice President

EX-99.1

1

$228 $123 $297 $574 $120 3Q22 4Q22 1Q23 2Q23 3Q23 $304 $121 $325 $639 ($28) 3Q22 4Q22 1Q23 2Q23 3Q23 NII ($MM) PRE-TAX INCOME ($MM) NET INCOME ($MM) PRE-PROVISION NET REVENUE (“PPNR”) ($MM) ▪ ▪ ▪ $940 $882 $867 $848 $828 3Q22 4Q22 1Q23 2Q23 3Q23 $1,599 $1,562 $1,510 $1,491 $1,471 3Q22 4Q22 1Q23 2Q23 3Q23

Money Market, 15% Other Liabilities³, 15% CDs4, 12% Secured Structured Financings, 12% Other Borrowings5, 11% Equity, 11% Non interest-bearing (“NIB”), 10% Interest-bearing (“IB”), 7% Savings, 3% Trading Liabilities, 2% Revolving Credit Facilities, 2% Auto Loans, 27% Investments, 15% Commercial & Industrial (“C&I”), 12% Other Assets¹, 10% Auto Leases ², 8% Multifamily, 7% Cash, 6% CRE, 5% Residential, 5% Other Consumer Loans, 3% Goodwill and Other Intangibles, 2%

▪ ▪ 45 45 44 44 45 23 23 23 22 20 17 18 19 19 19 15 14 14 14 14 8 8 8 8 7 4 4 5 5 5 $112 $112 $113 $112 $110 3Q22 4Q22 1Q23 2Q23 3Q23 97 98 99 98 96 23 24 26 25 25 23 22 26 21 20 15 14 14 14 14 9 10 13 13 11 $167 $168 $178 $171 $166 3Q22 4Q22 1Q23 2Q23 3Q23

56 61 61 62 61 45 44 46 46 43 27 27 35 27 28 19 18 18 19 18 20 18 18 17 16 $167 $168 $178 $171 $166 3Q22 4Q22 1Q23 2Q23 3Q23 31 30 27 27 25 20 18 18 17 16 6 13 16 18 19 14 13 13 12 12 5 5 5 5 5 $76 $79 $79 $79 $77 3Q22 4Q22 1Q23 2Q23 3Q23

NIM remains stable QoQ due to re-pricing of auto loans and disciplined deposit pricing with strategic pricing adjustments in corporate deposits

Auto Originations 12 ▪ ▪

▪ ▪ ▪16% 17% 11% 9% 9% 7% 7% 7%

0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% Residential Mortgage Home Equity Auto Loans Personal Unsecured Other Consumer ² 0.00% 1.00% 2.00% 3.00% 4.00% 5.00% Residential Mortgage Home Equity Auto Loans Personal Unsecured Other Consumer ² 0.00% 0.50% 1.00% 1.50% 2.00% CRE C&I Multifamily Other Commercial ³ 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% CRE C&I Multifamily Other Commercial ³

▪ ▪ 0.00% 0.40% 0.80% 1.20% 1.60% 2.00% Consumer Commercial 0% 20% 40% 60% 80% 100% 120% Consumer Commercial 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% Consumer Commercial

▪ ▪

$26.2B $37.3B 1 2

1 2

▪ ▪ ▪ CET12 TIER 1 RISK-BASED CAPITAL RATIO2 TOTAL RISK-BASED CAPITAL RATIO2 TIER 1 LEVERAGE RATIO2 1 2 15.2% 13.2% 12.7% 12.8% 12.8% 3Q22 4Q22 1Q23 2Q23 3Q23 11.1% 10.2% 9.7% 10.0% 10.3% 3Q22 4Q22 1Q23 2Q23 3Q23 15.5% 13.9% 13.2% 14.2% 14.2% 3Q22 4Q22 1Q23 2Q23 3Q23 17.2% 15.9% 15.3% 16.2% 16.3% 3Q22 4Q22 1Q23 2Q23 3Q23

Santander1 A2/Baa1 SHUSA Baa2 (upgrade) 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

▪ ▪ ▪ ▪ ▪

* 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

10.5% 9.5% 5.0% 6.8% 8.3% 10.0% 5.5% 4.7% 2.4% 3.3% 4.6% 5.4% 17.6% 18.3% 6.8% 7.7% 12.5% 13.3% 50.0% 55.9% 91.4% 74.4% 55.2% 52.2% 8.8% 8.1% 0.6% 2.0% 5.6% 6.4% Q3 2018 Q1 2019 Q3 2019 Q1 2020 Q3 2020 Q1 2021 Q3 2021 Q1 2022 Q3 2022 Q1 2023 Q3 2023

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Cover Page	Nov. 03, 2023
Cover [Abstract]
Document Type	8-K
Document Period End Date	Nov. 03, 2023
Entity Registrant Name	Santander Holdings USA, Inc.
Entity Incorporation, State or Country Code	VA
Entity File Number	1-16581
Entity Tax Identification Number	23-2453088
Entity Address, Address Line One	75 State Street
Entity Address, City or Town	Boston
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	02109
City Area Code	800
Local Phone Number	493-8219
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Not Applicable
Trading Symbol	Not Applicable
Entity Emerging Growth Company	false
Amendment Flag	false
Entity Central Index Key	0000811830