LendingClub Corp

For the period ended Sep 30, 2024. Filed Oct 30, 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.

Sep 30, 2024 · Filed Oct 30, 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 September 30,		Nine Months EndedSeptember 30,
	2024	2023	2024	2023
Non-interest income:
Marketplace revenue	$58,384	$60,886	$170,628	$239,303
Other non-interest income	3,256	2,958	7,525	9,349
Total non-interest income	61,640	63,844	178,153	248,652
Interest income:
Interest on loans held for sale	30,326	9,582	71,746	19,772
Interest and fees on loans and leases held for investment	118,788	158,960	376,000	471,512
Interest on loans held for investment at fair value (1)	26,345	12,605	46,801	64,066
Interest on securities available for sale	52,476	9,467	130,702	19,315
Other interest income	12,442	16,798	42,113	49,646
Total interest income	240,377	207,412	667,362	624,311
Interest expense:
Interest on deposits	96,863	69,509	271,019	189,303
Other interest expense (1)	3,273	898	4,686	4,647
Total interest expense	100,136	70,407	275,705	193,950
Net interest income	140,241	137,005	391,657	430,361
Total net revenue	201,881	200,849	569,810	679,013
Provision for credit losses	47,541	64,479	115,029	201,658
Non-interest expense:
Compensation and benefits	57,408	58,497	173,502	203,357
Marketing	26,186	19,555	76,987	70,375
Equipment and software	12,789	12,631	37,833	40,295
Depreciation and amortization	13,341	11,250	39,086	35,242
Professional services	8,014	8,414	22,909	27,446
Occupancy	4,005	4,612	11,807	13,606
Other non-interest expense	14,589	13,076	38,699	46,101
Total non-interest expense	136,332	128,035	400,823	436,422
Income before income tax expense	18,008	8,335	53,958	40,933
Income tax expense	(3,551)	(3,327)	(12,348)	(12,149)
Net income	$14,457	$5,008	$41,610	$28,784
Earnings per share: (2)
Basic EPS	$0.13	$0.05	$0.37	$0.27
Diluted EPS	$0.13	$0.05	$0.37	$0.27
Weighted-average common shares – Basic	112,042,202	109,071,180	111,376,778	107,966,544
Weighted-average common shares – Diluted	113,922,256	109,073,194	112,027,815	107,969,920

(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.