LendingClub Corp
For the period ended Dec 31, 2024. Filed Feb 13, 2025.
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FY2024 · Filed Feb 13, 2025
HAPN$15.67-3.4%Stored close · as of Nov 10, 2026
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
| Year Ended December 31, | 2024 | 2023 | 2022 |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net income | $51,330 | $38,939 | $289,685 |
| Adjustments to reconcile net income to net cash (used for) provided by operating activities: | |||
| Net fair value adjustments | 154,659 | 134,114 | (8,503) |
| Change in fair value of loan servicing assets | 75,359 | 62,581 | 73,229 |
| Gain on sales of loans | (49,097) | (47,839) | (95,335) |
| Provision for credit losses | 178,267 | 243,565 | 267,326 |
| Accretion of loan deferred fees and costs | (68,535) | (90,723) | (86,138) |
| Stock-based compensation, net | 40,069 | 52,389 | 66,362 |
| Depreciation and amortization | 58,834 | 47,195 | 43,831 |
| Income tax benefit from release of tax valuation allowance | — | — | (143,495) |
| Other, net | 10,754 | (8,932) | (1,828) |
| Net change to loans held for sale | (3,101,778) | (1,535,037) | 8,032 |
| Net change in operating assets and liabilities: | |||
| Other assets | 22,422 | 54,894 | (16,762) |
| Other liabilities | (6,458) | (87,746) | (20,836) |
| Net cash (used for) provided by operating activities | (2,634,174) | (1,136,600) | 375,568 |
| Cash flows from investing activities: | |||
| Net change in loans and leases (1) | (223,857) | 544,821 | (2,599,440) |
| Purchases of securities available for sale | (49,786) | (61,648) | (222,534) |
| Proceeds from sales, maturities and paydowns of securities available for sale | 938,409 | 97,709 | 86,078 |
| Purchases of property, equipment and software, net | (54,302) | (59,509) | (69,481) |
| Other investing activities | (2,651) | (4,676) | (4,423) |
| Net cash provided by (used for) investing activities | 607,813 | 516,697 | (2,809,800) |
| Cash flows from financing activities: | |||
| Net change in deposits | 1,742,479 | 921,393 | 3,256,501 |
| Principal payments on borrowings (1) | (19,202) | (111,993) | (452,343) |
| Other financing activities | (13,668) | (19,833) | (9,028) |
| Net cash provided by financing activities | 1,709,609 | 789,567 | 2,795,130 |
| Net (decrease) increase in cash, cash equivalents and restricted cash | (316,752) | 169,664 | 360,898 |
| Cash, cash equivalents and restricted cash, beginning of period | 1,294,148 | 1,124,484 | 763,586 |
| Cash, cash equivalents and restricted cash, end of period | $977,396 | $1,294,148 | $1,124,484 |
| Supplemental cash flow information: | |||
| Cash paid for interest | $378,276 | $258,626 | $79,732 |
| Cash paid for taxes | $275 | $6,631 | $14,462 |
| Cash paid for operating leases included in the measurement of lease liabilities | $12,869 | $12,797 | $15,540 |
| Supplemental non-cash investing activity: | |||
| Net securities retained from Structured Program transactions | $2,711,693 | $1,299,313 | $— |
| Supplemental non-cash financing activity: | |||
| Derecognition of payable to securitization note and residual certificate holders held in consolidated VIE | $880 | $— | $36,072 |
Consolidated Statements of Cash Flows (Continued)
The following presents cash, cash equivalents and restricted cash by category within the Balance Sheet:
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| Cash and cash equivalents | $954,058 | $1,252,504 |
| Restricted cash | 23,338 | 41,644 |
| Total cash, cash equivalents and restricted cash | $977,396 | $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.