LendingClub Corp
For the period ended Mar 31, 2024. Filed May 1, 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.
Mar 31, 2024 · Filed May 1, 2024
HAPN$15.67-3.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Three Months EndedMarch 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash Flows from Operating Activities: | ||
| Net income | $12,250 | $13,666 |
| Adjustments to reconcile net income to net cash (used for) provided by operating activities: | ||
| Net fair value adjustments | 44,689 | 15,414 |
| Change in fair value of loan servicing assets | 19,428 | 12,576 |
| Gain on sales of loans | (10,909) | (14,125) |
| Provision for credit losses | 31,927 | 70,584 |
| Accretion of loan deferred fees and costs | (18,829) | (24,110) |
| Stock-based compensation, net | 11,544 | 11,888 |
| Depreciation and amortization | 12,673 | 12,354 |
| Other, net | (1,020) | (3,670) |
| Net change to loans held for sale | (928,163) | 50,738 |
| Net change in operating assets and liabilities: | ||
| Other assets | 2,006 | 14,591 |
| Other liabilities | (22,112) | (45,414) |
| Net cash (used for) provided by operating activities | (846,516) | 114,492 |
| Cash Flows from Investing Activities: | ||
| Net change in loans and leases (1) | 121,263 | (285,100) |
| Purchases of securities available for sale | — | (37,245) |
| Proceeds from maturities and paydowns of securities available for sale | 119,556 | 9,000 |
| Purchases of property, equipment and software, net | (11,781) | (16,398) |
| Other investing activities | (12,156) | (6,671) |
| Net cash provided by (used for) investing activities | 216,882 | (336,414) |
| Cash Flows from Financing Activities: | ||
| Net change in deposits | 199,255 | 826,117 |
| Principal payments on borrowings (1) | (6,981) | (38,973) |
| Proceeds from short-term borrowings | 250,000 | — |
| Other financing activities | (4,428) | (5,367) |
| Net cash provided by financing activities | 437,846 | 781,777 |
| Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash | $(191,788) | $559,855 |
| Cash, Cash Equivalents and Restricted Cash, Beginning of Period | $1,294,148 | $1,124,484 |
| Cash, Cash Equivalents and Restricted Cash, End of Period | $1,102,360 | $1,684,339 |
| Supplemental Cash Flow Information: | ||
| Cash paid for interest | $90,682 | $51,608 |
| Cash paid for taxes | $— | $4,526 |
| Cash paid for operating leases included in the measurement of lease liabilities | $3,089 | $3,156 |
| Supplemental Non-cash Investing Activity: | ||
| Net securities retained from Structured Program transactions | $738,976 | $— |
Condensed Consolidated Statements of Cash Flows (Continued)
The following presents cash, cash equivalents and restricted cash by category within the Balance Sheet:
| March 31,2024 | December 31, 2023 | |
|---|---|---|
| Cash and cash equivalents | $1,066,279 | $1,252,504 |
| Restricted cash | 36,081 | 41,644 |
| Total cash, cash equivalents and restricted cash | $1,102,360 | $1,294,148 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.