LendingClub Corp
For the period ended Dec 31, 2024. Filed Feb 13, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 13, 2025
HAPN$16.22+1.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Glossary
The following is a list of common acronyms and terms LendingClub Corporation regularly uses in its financial reporting:
| ACL | Allowance for Credit Losses (includes both the allowance for loan and lease losses, allowance for securities available for sale and the reserve for unfunded lending commitments) |
|---|---|
| AFS | Available for Sale |
| ALLL | Allowance for Loan and Lease Losses |
| ASU | Accounting Standards Update |
| AUM | Assets Under Management (outstanding balances of Loan Originations serviced by the Company including loans sold to investors as well as loans held for investment and held for sale by the Company) |
| Balance Sheet | Consolidated Balance Sheets |
| CECL | Current Expected Credit Losses (Accounting Standards Update 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments) |
| CET1 | Common Equity Tier 1 |
| CET1 Capital Ratio | Common Equity Tier 1 capital divided by total risk-weighted assets as defined under the Basel III capital framework |
| DCF | Discounted Cash Flow |
| EPS | Earnings Per Share |
| Exchange Act | Securities Exchange Act of 1934, as amended |
| FRB or Federal Reserve | Board of Governors of the Federal Reserve System and, as applicable, Federal Reserve Bank(s) |
| GAAP | Accounting Principles Generally Accepted in the United States of America |
| HFI | Loans which are retained by the Company and held for investment |
| HFS | Held for sale loans expected to be sold to investors, including Marketplace Loans |
| Income Statement | Consolidated Statements of Income |
| LC Bank or LendingClub Bank | LendingClub Bank, National Association |
| LendingClub, LC, the Company, we, us, or our | LendingClub Corporation and its subsidiaries |
| Loan Originations | Unsecured personal loans and auto refinance loans originated by the Company or facilitated by third-party issuing banks |
| Marketplace Loans | Loan Originations designated as HFS and subsequently sold to investors |
| N/M | Not meaningful |
| Parent | LendingClub Corporation (the Parent Company of LendingClub Bank, National Association and other subsidiaries) |
| PPNR or Pre-Provision Net Revenue | PPNR, or Pre-Provision Net Revenue, is a non-GAAP financial measure calculated by subtracting the provision for credit losses and income tax benefit/expense from net income. |
| SEC | United States Securities and Exchange Commission |
| Securities Act | Securities Act of 1933, as amended |
| Statement of Cash Flows | Consolidated Statements of Cash Flows |
| Structured Program transactions | Asset-backed securitization transactions where certain accredited investors and qualified institutional buyers have the opportunity to invest in securities backed by a pool of unsecured personal whole loans. |
| Tier 1 Capital Ratio | Tier 1 capital, which includes Common Equity Tier 1 capital plus non-cumulative perpetual preferred equity that qualifies as additional tier 1 capital, divided by total risk-weighted assets as defined under the Basel III capital framework. |
|---|---|
| Tier 1 Leverage Ratio | Tier 1 capital, which includes Common Equity Tier 1 capital plus non-cumulative perpetual preferred equity that qualifies as additional tier 1 capital, divided by quarterly adjusted average assets as defined under the Basel III capital framework. |
| Total Capital Ratio | Total capital, which includes Common Equity Tier 1 capital, Tier 1 capital and allowance for credit losses and qualifying subordinated debt that qualifies as Tier 2 capital, divided by total risk-weighted assets as defined under the Basel III capital framework. |
| Unsecured personal loans | Unsecured personal loans originated on the Company’s platforms, including an online direct to consumer platform and a platform connected with a network of education and patient finance providers. |
| VIE | Variable Interest Entity |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.