LendingClub Corp
For the period ended Sep 30, 2025. Filed Oct 30, 2025.
View on SEC.govAbout 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, 2025 · Filed Oct 30, 2025
HAPN$15.96-1.4%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-06-30; filed 2025-07-31.
0001409970-25-000029
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-09-30; filed 2025-10-30.
0001409970-25-000074
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 198 previous paragraphs and 198 current paragraphs.
125 unchanged; 52 reworded; 21 added; 21 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 36 previous and 37 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (21)
Current report
•Total assets: Total assets were $11.1 billion as of September 30, 2025 compared to $11.0 billion in the prior year. Total assets were comparable year-over-year due to a portfolio acquisition in the same quarter of the prior year.
Current report
•Deposits: Total deposits were $9.4 billion as of September 30, 2025, compared to $9.5 billion in the prior year, primarily due to a $0.6 billion decrease in brokered deposits, mostly offset by an increase in non-brokered deposits.
Current report
Sequential: Origination fees were $105.7 million and $87.6 million for the third and second quarters of 2025, respectively, an increase of 21%.
Current report
Nine Months Over Nine Months: Origination fees were $263.3 million and $218.7 million for the first nine months of 2025 and 2024, respectively, an increase of 20%.
Current report
Sequential: Servicing fees were $17.0 million and $16.4 million for the third and second quarters of 2025, respectively, an increase of 4%. The increase was primarily due to a lower market servicing rate assumption, which resulted in an increase in the fair value of the servicing asset, and a higher average principal balance of loans serviced. This was partially offset by a reduction in servicing fees on delinquent loan collections.
Current report
Year Over Year: Servicing fees were $17.0 million and $8.1 million for the third quarters of 2025 and 2024, respectively, an increase of 110%. The increase was primarily due to a $7.7 million servicing asset write-off in the third quarter of 2024 related to a loan portfolio purchase and a lower market servicing rate assumption, which resulted in an increase in the fair value of the servicing asset. This was partially offset by a reduction in servicing fees on delinquent loan collections.
Current report
Nine Months Over Nine Months: Servicing fees were $46.1 million and $47.5 million for the first nine months of 2025 and 2024, respectively, a decrease of 3%. The decrease was primarily due to a reduction in servicing fees on delinquent loan collections and a lower average principal balance of loans serviced. This was partially offset by a $7.7 million servicing asset write-off in the third quarter of 2024 related to a loan portfolio purchase as well as a lower fair value amortization of our servicing asset resulting from a smaller average asset balance.
Current report
Sequential: Gain on sales of loans was $17.8 million and $13.5 million for the third and second quarters of 2025, respectively, an increase of 31%. The increase was primarily driven by the increase in the volume of marketplace loans sold.
Current report
Sequential: Net fair value adjustments were $(38.4) million and $(27.9) million for the third and second quarters of 2025, respectively, an increased loss of $10.5 million. The increased loss was primarily due to an increase in the origination volume of marketplace loans as well as a fair value benefit recognized in the second quarter of 2025 based on improved credit performance compared to the first quarter of 2025. This increased loss was partially offset by higher loan sale prices.
Current report
Year Over Year: Net fair value adjustments were $(38.4) million and $(33.6) million for the third quarters of 2025 and 2024, respectively, an increased loss of $4.8 million. The increased loss was primarily due to an increase in the origination volume of marketplace loans, partially offset by higher loan sale prices.
Current report
Nine Months Over Nine Months: Net fair value adjustments were $(95.5) million and $(129.7) million for the first nine months of 2025 and 2024, respectively, a decreased loss of $34.2 million. The reduction was primarily due to higher loan sale prices as well as a fair value benefit recognized in the second quarter of 2025 based on improved credit performance, partially offset by an increase in the origination volume of marketplace loans.
Current report
Sequential: The provision for credit losses was $46.3 million and $39.7 million for the third and second quarters of 2025, respectively, an increase of 16%. The increase was primarily due to a higher initial provision for credit losses on a greater mix of longer-duration loans retained as HFI at amortized cost as well as a provision benefit recognized in the second quarter of 2025 resulting from improved credit performance. These factors were partially offset by a lower volume of originated loans retained as HFI at amortized cost.
Current report
Year Over Year: The provision for credit losses was $46.3 million and $47.5 million for the third quarters of 2025 and 2024, respectively, a decrease of 3%. The decrease was primarily driven by improved credit performance, partially offset by a higher volume of originated loans retained as HFI at amortized cost.
Current report
Nine Months Over Nine Months: The provision for credit losses was $144.2 million and $115.0 million for the first nine months of 2025 and 2024, respectively, an increase of 25%. The increase was primarily driven by a higher volume of originated loans retained as HFI at amortized cost, partially offset by improved credit performance.
Current report
Sequential: Marketing expense increased $7.1 million, or 21%, for the third quarter of 2025 compared to the second quarter of 2025.
Current report
Nine Months Over Nine Months: Marketing expense increased $26.5 million, or 34%, for the first nine months of 2025 compared to the same period in 2024.
Current report
Sequential: Depreciation and amortization expense increased $1.4 million, or 9%, for the third quarter of 2025 compared to the second quarter of 2025.
Current report
Nine Months Over Nine Months: Depreciation and amortization expense increased $7.2 million, or 18%, for the first nine months of 2025 compared to the same period in 2024.
Current report
Sequential: Professional services increased $0.6 million, or 6%, for the third quarter of 2025 compared to the second quarter of 2025.
Current report
Nine Months Over Nine Months: Occupancy expense increased $2.6 million, or 22%, for the first nine months of 2025 compared to the same period in 2024.
Current report
Nine Months Over Nine Months: Other non-interest expense increased $3.6 million, or 9%, for the first nine months of 2025 compared to the same period in 2024.
Removed paragraphs (21)
Previous report
•Total assets: Total assets as of June 30, 2025 increased $1.2 billion, or 12%, year over year. The increase primarily reflects growth in securities related to our Structured Program transactions as well as in our loan portfolios.
Previous report
Sequential: Origination fees were $87.6 million and $69.9 million for the second and first quarters of 2025, respectively, an increase of 25%.
Previous report
Six Months Over Six Months: Origination fees were $157.5 million and $147.2 million for the first halves of 2025 and 2024, respectively, an increase of 7%.
Previous report
Sequential: Servicing fees were $16.4 million and $12.7 million for the second and first quarters of 2025, respectively, an increase of 29%. The increase was primarily due to the prior-quarter reduction in the fair value of the servicing asset, which was based on higher future expected borrower prepayments.
Previous report
Year Over Year: Servicing fees were $16.4 million and $19.9 million for the second quarters of 2025 and 2024, respectively, a decrease of 17%. The decrease was primarily due to a lower principal balance of loans serviced and a reduction in servicing fees on delinquent loan collections.
Previous report
Six Months Over Six Months: Servicing fees were $29.1 million and $39.5 million for the first halves of 2025 and 2024, respectively, a decrease of 26%. The decrease was primarily due to a lower principal balance of loans serviced and a reduction in servicing fees on delinquent loan collections. In addition, the decrease was also due to the prior-quarter reduction in the fair value of the servicing asset, which was based on higher future expected borrower prepayments.
Previous report
Sequential: Gain on sales of loans was $13.5 million and $12.2 million for the second and first quarters of 2025, respectively, an increase of 11%. The increase was primarily driven by the increase in the volume of marketplace loans sold.
Previous report
Sequential: Net fair value adjustments were $(27.9) million and $(29.3) million for the second and first quarters of 2025, respectively, a decreased loss of $1.4 million.
Previous report
Year Over Year: Net fair value adjustments were $(27.9) million and $(51.4) million for the second quarters of 2025 and 2024, respectively, a decreased loss of $23.5 million.
Previous report
Six Months Over Six Months: Net fair value adjustments were $(57.1) million and $(96.1) million for the first halves of 2025 and 2024, respectively, a decreased loss of $39.0 million.
Previous report
The reductions were primarily due to improved loan sale prices and lower fair value adjustments based on improved credit performance in the second quarter of 2025, partially offset by an increase in the origination volume of marketplace loans.
Previous report
Sequential: The provision for credit losses was $39.7 million and $58.1 million for the second and first quarters of 2025, respectively, a decrease of 32%. The decrease was primarily driven by improved credit performance in the second quarter of 2025. In addition, in the first quarter of 2025 we recorded an additional economic qualitative allowance to reflect macroeconomic uncertainty.
Previous report
Year Over Year: The provision for credit losses was $39.7 million and $35.6 million for the second quarters of 2025 and 2024, respectively, an increase of 12%. The increase was primarily driven by an increase in the initial provision for credit losses from a higher volume of originated loans retained as HFI at amortized cost. The increase was offset by improved credit performance in the second quarter of 2025.
Previous report
Six Months Over Six Months: The provision for credit losses was $97.9 million and $67.5 million for the first halves of 2025 and 2024, respectively, an increase of 45%. The increase was primarily driven by an increase in the initial provision for credit losses from a higher volume of originated loans retained as HFI at amortized cost as well as an additional economic qualitative allowance that was recorded in the first quarter of 2025 to reflect macroeconomic uncertainty. The increase was offset by improved credit performance in the second quarter of 2025.
Previous report
Sequential: Marketing expense increased $4.3 million, or 15%, for the second quarter of 2025 compared to the first quarter of 2025.
Previous report
Six Months Over Six Months: Marketing expense increased $12.0 million, or 24%, for the first half of 2025 compared to the same period in 2024.
Previous report
Sequential: Depreciation and amortization expense increased $1.6 million, or 11%, for the second quarter of 2025 compared to the first quarter of 2025.
Previous report
Six Months Over Six Months: Depreciation and amortization expense increased $3.6 million, or 14%, for the first half of 2025 compared to the same period in 2024.
Previous report
Sequential: Professional services increased $0.5 million, or 5%, for the second quarter of 2025 compared to the first quarter of 2025.
Previous report
Six Months Over Six Months: Occupancy expense increased $1.3 million, or 17%, for the first half of 2025 compared to the same period in 2024.
Previous report
Six Months Over Six Months: Other non-interest expense increased $3.6 million, or 15%, for the first half of 2025 compared to the same period in 2024.
Reworded paragraphs (52)
Previous wording
The following is a summary of our results for thesecond quarter of 2025 compared to the same period in 2024, reflecting growth in loan originations, total net revenue and net income:
Current wording
The following is a summary of our results for thethird quarter of 2025 compared to the same period in 2024, reflecting growth in loan originations, total net revenue and net income:
Previous wording
•Loan originations: Loan originations for the second quarter of 2025 increased $578.6 million, or 32%, year over year. The increase was driven by an increase in unsecured personal loan origination volume.
Current wording
•Loan originations: Loan originations for the third quarter of 2025 increased $708.8 million, or 37%, year over year. The increase was driven by an increase in unsecured personal loan origination volume.
Previous wording
◦Loan originations held for sale (HFS) for the second quarter of 2025 increased $225.0 million, or 15%, year over year, driven by an increase in marketplace investor demand and a higher retention of HFS loans into our Extended Seasoning program. Loan originations HFS as a percentage of loan originations was 71% and 81% for the second quarters of 2025 and 2024, respectively.
Current wording
◦Marketplace loan originations for the third quarter of 2025 increased $624.1 million, or 44%, year over year, driven by a higher retention of held for sale (HFS) loans into our Extended Seasoning program and an increase in marketplace investor demand. Loan originations HFS as a percentage of loan originations was 77% and 73% for the third quarters of 2025 and 2024, respectively.
Previous wording
◦Loan originations held for investment (HFI) at amortized cost for the second quarter of 2025 increased $353.6 million, or 105%, year over year. Loan originations HFI at amortized cost as a percentage of loan originations was 29% and 19% for the second quarters of 2025 and 2024, respectively.
Current wording
◦Loan originations held for investment (HFI) at amortized cost for the third quarter of 2025 increased $84.7 million, or 17%, year over year. Loan originations HFI at amortized cost as a percentage of loan originations was 23% and 27% for the third quarters of 2025 and 2024, respectively.
Previous wording
•Total net revenue: Total net revenue for the second quarter of 2025 increased $61.2 million, or 33%, year over year.
Current wording
•Total net revenue: Total net revenue for the third quarter of 2025 increased $64.4 million, or 32%, year over year.
Previous wording
◦Marketplace revenue: Marketplace revenue for the second quarter of 2025 increased $33.3 million, or 59%, year over year. The increase was primarily due to higher origination volumes of marketplace loans, improved loan sales prices and lower fair value adjustments based on improved credit performance in the second quarter of 2025.
Current wording
◦Marketplace revenue: Marketplace revenue for the third quarter of 2025 increased $43.8 million, or 75%, year over year. The increase was primarily due to higher origination volumes of marketplace loans and improved loan sales prices.
Previous wording
◦Net interest income: Net interest income for the second quarter of 2025 increased $25.7 million, or 20%, year over year primarily due to an increase in total interest-earning assets and a decrease in interest expense associated with a lower average rate on interest-bearing deposits.
Current wording
◦Net interest income: Net interest income for the third quarter of 2025 increased $18.2 million, or 13%, year over year primarily due to lower deposit funding costs and an increase in total interest-earning assets.
Previous wording
◦Net interest margin: Net interest margin for the second quarter of 2025 was 6.14%, increasing from 5.75% in the second quarter of 2024.
Current wording
◦Net interest margin: Net interest margin for the third quarter of 2025 was 6.18%, increasing from 5.63% in the third quarter of 2024.
Previous wording
•Provision for credit losses: Provision for credit losses for the second quarter of 2025 increased $4.2 million, or 12%, year over year. The increase was primarily driven by an increase in initial provision for credit losses from a higher volume of originated loans retained as HFI at amortized cost. The increase was offset by improved credit performance in the second quarter of 2025.
Current wording
•Provision for credit losses: Provision for credit losses for the third quarter of 2025 decreased $1.3 million, or 3%, year over year. The decrease was primarily driven by improved credit performance, partially offset by a higher volume of originated loans retained as HFI at amortized cost.
Previous wording
•Total non-interest expense: Total non-interest expense for the second quarter of 2025 increased $22.5 million, or 17%, year over year. The increase was primarily due to an increase in marketing expense based on higher origination volume and the resumption of certain marketing initiatives. The increase was also due to an increase in compensation and benefits expense based on higher variable compensation expense and an increase in headcount.
Current wording
•Total non-interest expense: Total non-interest expense for the third quarter of 2025 increased $26.4 million, or 19%, year over year. The increase was primarily due to an increase in marketing expense based on higher origination volume and the resumption of certain marketing initiatives. The increase was also due to increases in the amortization of internally-developed software and compensation and benefits expense resulting from an increase in headcount.
Previous wording
•Net income: Net income for the second quarter of 2025 increased $23.3 million, or 156%, year over year.
Current wording
•Net income: Net income for the third quarter of 2025 increased $29.8 million, or 206%, year over year.
Previous wording
•Diluted earnings per share (EPS): Diluted EPS was $0.33, compared to $0.13 for the second quarter of 2024.
Current wording
•Diluted earnings per share (EPS): Diluted EPS grew to $0.37, compared to $0.13 for the third quarter of 2024.
Previous wording
•Pre-provision net revenue (PPNR): PPNR for the second quarter of 2025 increased $38.7 million, or 70%, year over year, driven by an increase in total net revenue, partially offset by an increase in non-interest expense.
Current wording
•Pre-provision net revenue (PPNR): PPNR for the third quarter of 2025 increased $38.0 million, or 58%, year over year, driven by an increase in total net revenue, partially offset by an increase in non-interest expense.
Previous wording
•Deposits: Total deposits as of June 30, 2025 increased $1.0 billion, or 13%, year over year. The increase was primarily due to growth in our high-yield savings deposits. Federal Deposit Insurance Corporation (FDIC)-insured deposits represent approximately 86% of total deposits as of June 30, 2025.
Current wording
◦Federal Deposit Insurance Corporation (FDIC)-insured deposits represent approximately 88% of total deposits as of September 30, 2025.
Previous wording
(4) Assets under management (AUM) reflects loans serviced on our platform, which includes outstanding balances of unsecured personal loans, auto refinance loans and education and patient finance loans serviced for others and retained by the Company.
Current wording
(4) Assets under management (AUM) reflects loans serviced on our platform, which includes outstanding balances of unsecured personal loans, auto refinance loans and education and patient finance loans serviced for others and retained by the Company as of the end of the periods presented.
Previous wording
The analysis below is presented for the following periods: Second quarter of 2025 compared to the first quarter of 2025 (sequential), second quarter of 2025 compared to the second quarter of 2024 (year over year) and first half of 2025 compared to the first half of 2024 (six months over six months).
Current wording
The analysis below is presented for the following periods: Third quarter of 2025 compared to the second quarter of 2025 (sequential), third quarter of 2025 compared to the third quarter of 2024 (year over year) and first nine months of 2025 compared to the first nine months of 2024 (nine months over nine months).
Previous wording
Year Over Year: Origination fees were $87.6 million and $77.1 million for the second quarters of 2025 and 2024, respectively, an increase of 14%.
Current wording
Year Over Year: Origination fees were $105.7 million and $71.5 million for the third quarters of 2025 and 2024, respectively, an increase of 48%.
Previous wording
The table below illustrates AUM serviced on our platform by the method in which the loans were financed as of the periods presented. Loans sold and subsequently serviced on behalf of the investor represent a key driver of our servicing fee revenue.
Current wording
The table below illustrates the average balance of loans sold and subsequently serviced on behalf of the investor for the periods presented (in millions):
Previous wording
In addition to the loans serviced on our marketplace platform, we serviced $52.8 million, $93.1 million and $111.6 million in outstanding principal balance of commercial loans sold as of June 30, 2025, March 31, 2025 and June 30, 2024, respectively.
Current wording
In addition to the loans serviced on our marketplace platform, we serviced $53.0 million, $52.8 million and $106.5 million in outstanding principal balance of commercial loans sold as of September 30, 2025, June 30, 2025 and September 30, 2024, respectively.
Previous wording
Year Over Year: Gain on sales of loans was $13.5 million and $10.7 million for the second quarters of 2025 and 2024, respectively, an increase of 26%. The increase was primarily driven by the increase in the volume of marketplace loans sold as well as higher Structured Program transaction expenses in the second quarter of 2024.
Current wording
Year Over Year: Gain on sales of loans was $17.8 million and $12.4 million for the third quarters of 2025 and 2024, respectively, an increase of 43%. The increase was primarily driven by the increase in the volume of marketplace loans sold as well as higher Structured Program transaction expenses in the third quarter of 2024.
Previous wording
Six Months Over Six Months: Gain on sales of loans was $25.7 million and $21.7 million for the first halves of 2025 and 2024, respectively, an increase of 19%. The increase was primarily driven by the increase in the volume of marketplace loans sold as well as higher Structured Program transaction expenses in the first half of 2024.
Current wording
Nine Months Over Nine Months: Gain on sales of loans was $43.5 million and $34.1 million for the first nine months of 2025 and 2024, respectively, an increase of 28%. The increase was primarily driven by the increase in the volume of marketplace loans sold as well as higher Structured Program transaction expenses in the nine months of 2024.
Previous wording
An analysis of the six months over six months changes in the categories of interest revenue and interest expense resulting from changes in volume and rate is as follows:
Current wording
An analysis of the nine months over nine months changes in the categories of interest revenue and interest expense resulting from changes in volume and rate is as follows:
Previous wording
(2)Relates to $103.4 million, $96.3 million and $91.5 million of unfunded commitments as of June 30, 2025, March 31, 2025 and June 30, 2024, respectively.
Current wording
(2)Relates to $114.4 million, $103.4 million and $105.3 million of unfunded commitments as of September 30, 2025, June 30, 2025 and September 30, 2024, respectively.
Previous wording
Sequential: Compensation and benefits expense increased $3.6 million, or 6%, for the second quarter of 2025 compared to the first quarter of 2025. The increase in compensation and benefits expense was primarily due to an increase in variable compensation expense.
Current wording
Sequential: Compensation and benefits expense decreased $1.2 million, or 2%, for the third quarter of 2025 compared to the second quarter of 2025. The decrease in compensation and benefits expense was primarily due to a decrease in variable compensation expense, partially offset by an increase in headcount.
Previous wording
Year Over Year: Compensation and benefits expense increased $5.4 million, or 10%, for the second quarter of 2025 compared to the same period in 2024. The increase in compensation and benefits expense was primarily due to an increase in variable compensation expense and an increase in headcount.
Current wording
Year Over Year: Compensation and benefits expense increased $3.4 million, or 6%, for the third quarter of 2025 compared to the same period in 2024. The increase in compensation and benefits expense was primarily due to an increase in headcount.
Previous wording
Six Months Over Six Months: Compensation and benefits expense increased $4.3 million, or 4%, for the first half of 2025 compared to the same period in 2024. The increase was primarily due to an increase in headcount.
Current wording
Nine Months Over Nine Months: Compensation and benefits expense increased $7.7 million, or 4%, for the first nine months of 2025 compared to the same period in 2024. The increase in compensation and benefits expense was primarily due to an increase in headcount.
Previous wording
Year Over Year: Marketing expense increased $6.9 million, or 26%, for the second quarter of 2025 compared to the same period in 2024.
Current wording
Year Over Year: Marketing expense increased $14.5 million, or 55%, for the third quarter of 2025 compared to the same period in 2024.
Previous wording
Sequential: Equipment and software expense decreased $0.1 million, or 1%, for the second quarter of 2025 compared to the first quarter of 2025.
Current wording
Sequential: Equipment and software expense decreased $1.0 million, or 7%, for the third quarter of 2025 compared to the second quarter of 2025.
Previous wording
Year Over Year: Equipment and software expense increased $2.1 million, or 17%, for the second quarter of 2025 compared to the same period in 2024.
Current wording
Year Over Year: Equipment and software expense increased $0.7 million, or 5%, for the third quarter of 2025 compared to the same period in 2024.
Previous wording
Six Months Over Six Months: Equipment and software expense increased $4.1 million, or 16%, for the first half of 2025 compared to the same period in 2024.
Current wording
Nine Months Over Nine Months: Equipment and software expense increased $4.8 million, or 13%, for the first nine months of 2025 compared to the same period in 2024.
Previous wording
The increases in equipment and software expense were primarily due to an increase in software license expense and cloud services.
Current wording
The changes in equipment and software expense were primarily due to an increase or decrease in software license expense and cloud services.
Previous wording
Year Over Year: Depreciation and amortization expense increased $2.4 million, or 18%, for the second quarter of 2025 compared to the same period in 2024.
Current wording
Year Over Year: Depreciation and amortization expense increased $3.5 million, or 27%, for the third quarter of 2025 compared to the same period in 2024.
Previous wording
The increases in depreciation and amortization expense were primarily due to an increase in the amortization of internally-developed software.
Current wording
The increases in depreciation and amortization expense were primarily due to an increase in the amortization of internally-developed software placed into service during the respective periods.
Previous wording
Year Over Year: Professional services increased $2.5 million, or 32%, for the second quarter of 2025 compared to the same period in 2024.
Current wording
Year Over Year: Professional services increased $2.9 million, or 36%, for the third quarter of 2025 compared to the same period in 2024.
Previous wording
Six Months Over Six Months: Professional services increased $5.2 million, or 35%, for the first half of 2025 compared to the same period in 2024.
Current wording
Nine Months Over Nine Months: Professional services increased $8.1 million, or 35%, for the first nine months of 2025 compared to the same period in 2024.
Previous wording
Sequential: Occupancy expense increased $0.4 million, or 10%, for the second quarter of 2025 compared to the first quarter of 2025.
Current wording
Sequential: Occupancy expense increased $0.5 million, or 10%, for the third quarter of 2025 compared to the second quarter of 2025.
Previous wording
Year Over Year: Occupancy expense increased $0.8 million, or 21%, for the second quarter of 2025 compared to the same period in 2024.
Current wording
Year Over Year: Occupancy expense increased $1.2 million, or 31%, for the third quarter of 2025 compared to the same period in 2024.
Previous wording
The increases in occupancy expense were primarily related to operating expenses associated with the office building we purchased in April 2025.
Current wording
The increases in occupancy expense were primarily related to operating expenses associated with the office building purchased during the second quarter of 2025.
Previous wording
Sequential: Other non-interest expense increased $0.5 million, or 4%, for the second quarter of 2025 compared to the first quarter of 2025.
Current wording
Sequential: Other non-interest expense increased $0.6 million, or 4%, for the third quarter of 2025 compared to the second quarter of 2025.
Previous wording
Year Over Year: Other non-interest expense increased $2.2 million, or 19%, for the second quarter of 2025 compared to the same period in 2024.
Current wording
Year Over Year: Other non-interest expense remained relatively flat for the third quarter of 2025 compared to the same period in 2024.
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