LendingClub Corp

For the period ended Jun 30, 2024. Filed Aug 1, 2024.

About this filing

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.

Jun 30, 2024 · Filed Aug 1, 2024

HAPN$15.67-3.4%Stored close · as of Nov 10, 2026

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Contents

Condensed Consolidated Statements of Income

(In Thousands, Except Share and Per Share Amounts)

	Three Months Ended June 30,		Six Months EndedJune 30,
	2024	2023	2024	2023
Non-interest income:
Marketplace revenue	$56,353	$82,783	$112,244	$178,417
Other non-interest income	2,360	3,035	4,269	6,391
Total non-interest income	58,713	85,818	116,513	184,808
Interest income:
Interest on loans held for sale	26,721	4,433	41,420	10,190
Interest and fees on loans and leases held for investment	124,819	162,085	257,212	312,552
Interest on loans held for investment at fair value (1)	12,047	22,886	20,456	51,461
Interest on securities available for sale	42,879	5,948	78,226	9,848
Other interest income	13,168	19,134	29,671	32,848
Total interest income	219,634	214,486	426,985	416,899
Interest expense:
Interest on deposits	90,193	66,521	174,156	119,794
Other interest expense (1)	913	1,313	1,413	3,749
Total interest expense	91,106	67,834	175,569	123,543
Net interest income	128,528	146,652	251,416	293,356
Total net revenue	187,241	232,470	367,929	478,164
Provision for credit losses	35,561	66,595	67,488	137,179
Non-interest expense:
Compensation and benefits	56,540	71,553	116,094	144,860
Marketing	26,665	23,940	50,801	50,820
Equipment and software	12,360	13,968	25,044	27,664
Depreciation and amortization	13,072	11,638	25,745	23,992
Professional services	7,804	9,974	14,895	19,032
Occupancy	3,941	4,684	7,802	8,994
Other non-interest expense	11,876	15,322	24,110	33,025
Total non-interest expense	132,258	151,079	264,491	308,387
Income before income tax expense	19,422	14,796	35,950	32,598
Income tax expense	(4,519)	(4,686)	(8,797)	(8,822)
Net income	$14,903	$10,110	$27,153	$23,776
Earnings per share: (2)
Basic EPS	$0.13	$0.09	$0.24	$0.22
Diluted EPS	$0.13	$0.09	$0.24	$0.22
Weighted-average common shares – Basic	111,395,025	107,892,590	111,040,410	107,405,072
Weighted-average common shares – Diluted	111,466,497	107,895,072	111,076,938	107,409,129

(2) See “Notes to Condensed Consolidated Financial Statements – Note 3. Earnings Per Share” for additional information.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.