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 Income
(In Thousands, Except Share and Per Share Amounts)
| Three Months Ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Non-interest income: | ||
| Marketplace revenue | $55,891 | $95,634 |
| Other non-interest income | 1,909 | 3,356 |
| Total non-interest income | 57,800 | 98,990 |
| Interest income: | ||
| Interest on loans held for sale | 14,699 | 5,757 |
| Interest and fees on loans and leases held for investment | 132,393 | 150,467 |
| Interest on loans held for investment at fair value (1) | 8,409 | 28,575 |
| Interest on securities available for sale | 35,347 | 3,900 |
| Other interest income | 16,503 | 13,714 |
| Total interest income | 207,351 | 202,413 |
| Interest expense: | ||
| Interest on deposits | 83,963 | 53,273 |
| Other interest expense (1) | 500 | 2,436 |
| Total interest expense | 84,463 | 55,709 |
| Net interest income | 122,888 | 146,704 |
| Total net revenue | 180,688 | 245,694 |
| Provision for credit losses | 31,927 | 70,584 |
| Non-interest expense: | ||
| Compensation and benefits | 59,554 | 73,307 |
| Marketing | 24,136 | 26,880 |
| Equipment and software | 12,684 | 13,696 |
| Depreciation and amortization | 12,673 | 12,354 |
| Professional services | 7,091 | 9,058 |
| Occupancy | 3,861 | 4,310 |
| Other non-interest expense | 12,234 | 17,703 |
| Total non-interest expense | 132,233 | 157,308 |
| Income before income tax expense | 16,528 | 17,802 |
| Income tax expense | (4,278) | (4,136) |
| Net income | $12,250 | $13,666 |
| Earnings per share: (2) | ||
| Basic EPS | $0.11 | $0.13 |
| Diluted EPS | $0.11 | $0.13 |
| Weighted-average common shares – Basic | 110,685,796 | 106,912,139 |
| Weighted-average common shares – Diluted | 110,687,380 | 106,917,770 |
(2) See “Notes to Condensed Consolidated Financial Statements – Note 3. Earnings Per Share” for additional information.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.