000140997012/312024Q3FALSEFALSEhttp://fasb.org/us-gaap/2024#OtherAssetshttp://fasb.org/us-gaap/2024#OtherAssetsP5MP1YP10Yhttp://fasb.org/us-gaap/2024#OtherAssetshttp://fasb.org/us-gaap/2024#OtherAssetshttp://fasb.org/us-gaap/2024#OtherLiabilitieshttp://fasb.org/us-gaap/2024#OtherLiabilities191xbrli:sharesiso4217:USDiso4217:USDxbrli:sharesxbrli:pure00014099702024-01-012024-09-3000014099702024-10-1800014099702024-09-3000014099702023-12-3100014099702024-07-012024-09-3000014099702023-07-012023-09-3000014099702023-01-012023-09-300001409970us-gaap:CommonStockMember2024-06-300001409970us-gaap:AdditionalPaidInCapitalMember2024-06-300001409970us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-06-300001409970us-gaap:RetainedEarningsMember2024-06-3000014099702024-06-300001409970us-gaap:AdditionalPaidInCapitalMember2024-07-012024-09-300001409970us-gaap:CommonStockMember2024-07-012024-09-300001409970us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-07-012024-09-300001409970us-gaap:RetainedEarningsMember2024-07-012024-09-300001409970us-gaap:CommonStockMember2024-09-300001409970us-gaap:AdditionalPaidInCapitalMember2024-09-300001409970us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-09-300001409970us-gaap:RetainedEarningsMember2024-09-300001409970us-gaap:CommonStockMember2023-12-310001409970us-gaap:AdditionalPaidInCapitalMember2023-12-310001409970us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310001409970us-gaap:RetainedEarningsMember2023-12-310001409970us-gaap:AdditionalPaidInCapitalMember2024-01-012024-09-300001409970us-gaap:CommonStockMember2024-01-012024-09-300001409970us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-01-012024-09-300001409970us-gaap:RetainedEarningsMember2024-01-012024-09-300001409970us-gaap:CommonStockMember2023-06-300001409970us-gaap:AdditionalPaidInCapitalMember2023-06-300001409970us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-06-300001409970us-gaap:RetainedEarningsMember2023-06-3000014099702023-06-300001409970us-gaap:AdditionalPaidInCapitalMember2023-07-012023-09-300001409970us-gaap:CommonStockMember2023-07-012023-09-300001409970us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-07-012023-09-300001409970us-gaap:RetainedEarningsMember2023-07-012023-09-300001409970us-gaap:CommonStockMember2023-09-300001409970us-gaap:AdditionalPaidInCapitalMember2023-09-300001409970us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-09-300001409970us-gaap:RetainedEarningsMember2023-09-3000014099702023-09-300001409970us-gaap:CommonStockMember2022-12-310001409970us-gaap:AdditionalPaidInCapitalMember2022-12-310001409970us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310001409970us-gaap:RetainedEarningsMember2022-12-3100014099702022-12-310001409970us-gaap:AdditionalPaidInCapitalMember2023-01-012023-09-300001409970us-gaap:CommonStockMember2023-01-012023-09-300001409970us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-01-012023-09-300001409970us-gaap:RetainedEarningsMember2023-01-012023-09-300001409970us-gaap:FinancialServiceMember2024-07-012024-09-300001409970us-gaap:FinancialServiceMember2023-07-012023-09-300001409970us-gaap:FinancialServiceMember2024-01-012024-09-300001409970us-gaap:FinancialServiceMember2023-01-012023-09-300001409970lc:ServicingFeesMember2024-07-012024-09-300001409970lc:ServicingFeesMember2023-07-012023-09-300001409970lc:ServicingFeesMember2024-01-012024-09-300001409970lc:ServicingFeesMember2023-01-012023-09-300001409970lc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2024-09-300001409970lc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970us-gaap:USGovernmentAgenciesDebtSecuritiesMember2024-09-300001409970us-gaap:MortgageBackedSecuritiesMember2024-09-300001409970us-gaap:AssetBackedSecuritiesMember2024-09-300001409970lc:MunicipalSecuritiesMember2024-09-300001409970lc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember2023-12-310001409970us-gaap:USGovernmentAgenciesDebtSecuritiesMember2023-12-310001409970lc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970us-gaap:MortgageBackedSecuritiesMember2023-12-310001409970us-gaap:AssetBackedSecuritiesMember2023-12-310001409970lc:MunicipalSecuritiesMember2023-12-310001409970us-gaap:AvailableforsaleSecuritiesMember2024-09-300001409970us-gaap:AssetPledgedAsCollateralMember2024-09-300001409970us-gaap:AssetPledgedAsCollateralMember2023-12-310001409970lc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2024-06-300001409970lc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2024-07-012024-09-300001409970lc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2024-01-012024-09-300001409970us-gaap:ResidentialMortgageBackedSecuritiesMember2024-09-300001409970lc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2024-07-012024-09-300001409970lc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2024-01-012024-09-300001409970lc:UnsecuredPersonalLoanMemberus-gaap:ConsumerPortfolioSegmentMember2024-09-300001409970lc:UnsecuredPersonalLoanMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310001409970us-gaap:ResidentialMortgageMemberus-gaap:ConsumerPortfolioSegmentMember2024-09-300001409970us-gaap:ResidentialMortgageMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310001409970lc:SecuredConsumerLoanMemberus-gaap:ConsumerPortfolioSegmentMember2024-09-300001409970lc:SecuredConsumerLoanMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310001409970us-gaap:ConsumerPortfolioSegmentMember2024-09-300001409970us-gaap:ConsumerPortfolioSegmentMember2023-12-310001409970lc:EquipmentFinanceMemberus-gaap:CommercialPortfolioSegmentMember2024-09-300001409970lc:EquipmentFinanceMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310001409970us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2024-09-300001409970us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310001409970lc:CommercialAndIndustrialLoanMemberus-gaap:CommercialPortfolioSegmentMember2024-09-300001409970lc:CommercialAndIndustrialLoanMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMember2023-12-310001409970us-gaap:AssetPledgedAsCollateralMemberlc:FederalReserveBankMember2024-09-300001409970us-gaap:AssetPledgedAsCollateralMembersrt:FederalHomeLoanBankOfDesMoinesMember2024-09-300001409970us-gaap:AssetPledgedAsCollateralMemberlc:FederalReserveBankMember2023-12-310001409970us-gaap:AssetPledgedAsCollateralMembersrt:FederalHomeLoanBankOfDesMoinesMember2023-12-310001409970us-gaap:ConsumerPortfolioSegmentMember2024-06-300001409970us-gaap:CommercialPortfolioSegmentMember2024-06-300001409970us-gaap:ConsumerPortfolioSegmentMember2023-06-300001409970us-gaap:CommercialPortfolioSegmentMember2023-06-300001409970us-gaap:ConsumerPortfolioSegmentMember2024-07-012024-09-300001409970us-gaap:CommercialPortfolioSegmentMember2024-07-012024-09-300001409970us-gaap:ConsumerPortfolioSegmentMember2023-07-012023-09-300001409970us-gaap:CommercialPortfolioSegmentMember2023-07-012023-09-300001409970us-gaap:ConsumerPortfolioSegmentMember2023-09-300001409970us-gaap:CommercialPortfolioSegmentMember2023-09-300001409970us-gaap:UnfundedLoanCommitmentMemberus-gaap:ConsumerPortfolioSegmentMember2024-06-300001409970us-gaap:UnfundedLoanCommitmentMemberus-gaap:CommercialPortfolioSegmentMember2024-06-300001409970us-gaap:UnfundedLoanCommitmentMember2024-06-300001409970us-gaap:UnfundedLoanCommitmentMemberus-gaap:ConsumerPortfolioSegmentMember2023-06-300001409970us-gaap:UnfundedLoanCommitmentMemberus-gaap:CommercialPortfolioSegmentMember2023-06-300001409970us-gaap:UnfundedLoanCommitmentMember2023-06-300001409970us-gaap:UnfundedLoanCommitmentMemberus-gaap:ConsumerPortfolioSegmentMember2024-07-012024-09-300001409970us-gaap:UnfundedLoanCommitmentMemberus-gaap:CommercialPortfolioSegmentMember2024-07-012024-09-300001409970us-gaap:UnfundedLoanCommitmentMember2024-07-012024-09-300001409970us-gaap:UnfundedLoanCommitmentMemberus-gaap:ConsumerPortfolioSegmentMember2023-07-012023-09-300001409970us-gaap:UnfundedLoanCommitmentMemberus-gaap:CommercialPortfolioSegmentMember2023-07-012023-09-300001409970us-gaap:UnfundedLoanCommitmentMember2023-07-012023-09-300001409970us-gaap:UnfundedLoanCommitmentMemberus-gaap:ConsumerPortfolioSegmentMember2024-09-300001409970us-gaap:UnfundedLoanCommitmentMemberus-gaap:CommercialPortfolioSegmentMember2024-09-300001409970us-gaap:UnfundedLoanCommitmentMember2024-09-300001409970us-gaap:UnfundedLoanCommitmentMemberus-gaap:ConsumerPortfolioSegmentMember2023-09-300001409970us-gaap:UnfundedLoanCommitmentMemberus-gaap:CommercialPortfolioSegmentMember2023-09-300001409970us-gaap:UnfundedLoanCommitmentMember2023-09-300001409970us-gaap:ConsumerPortfolioSegmentMember2022-12-310001409970us-gaap:CommercialPortfolioSegmentMember2022-12-310001409970us-gaap:ConsumerPortfolioSegmentMember2024-01-012024-09-300001409970us-gaap:CommercialPortfolioSegmentMember2024-01-012024-09-300001409970us-gaap:ConsumerPortfolioSegmentMember2023-01-012023-09-300001409970us-gaap:CommercialPortfolioSegmentMember2023-01-012023-09-300001409970us-gaap:UnfundedLoanCommitmentMemberus-gaap:ConsumerPortfolioSegmentMember2023-12-310001409970us-gaap:UnfundedLoanCommitmentMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310001409970us-gaap:UnfundedLoanCommitmentMember2023-12-310001409970us-gaap:UnfundedLoanCommitmentMemberus-gaap:ConsumerPortfolioSegmentMember2022-12-310001409970us-gaap:UnfundedLoanCommitmentMemberus-gaap:CommercialPortfolioSegmentMember2022-12-310001409970us-gaap:UnfundedLoanCommitmentMember2022-12-310001409970us-gaap:UnfundedLoanCommitmentMemberus-gaap:ConsumerPortfolioSegmentMember2024-01-012024-09-300001409970us-gaap:UnfundedLoanCommitmentMemberus-gaap:CommercialPortfolioSegmentMember2024-01-012024-09-300001409970us-gaap:UnfundedLoanCommitmentMember2024-01-012024-09-300001409970us-gaap:UnfundedLoanCommitmentMemberus-gaap:ConsumerPortfolioSegmentMember2023-01-012023-09-300001409970us-gaap:UnfundedLoanCommitmentMemberus-gaap:CommercialPortfolioSegmentMember2023-01-012023-09-300001409970us-gaap:UnfundedLoanCommitmentMember2023-01-012023-09-300001409970lc:UnfundedLoanCommitmentCommitmentsToExtendCreditMember2024-09-300001409970lc:UnfundedLoanCommitmentCommitmentsToExtendCreditMember2023-09-300001409970lc:UnfundedLoanCommitmentUnconditionallyCancellableMember2024-09-300001409970lc:UnsecuredPersonalLoanMemberus-gaap:ConsumerPortfolioSegmentMember2024-01-012024-09-300001409970us-gaap:ResidentialMortgageMemberus-gaap:ConsumerPortfolioSegmentMember2024-01-012024-09-300001409970lc:SecuredConsumerLoanMemberus-gaap:ConsumerPortfolioSegmentMember2024-01-012024-09-300001409970lc:EquipmentFinanceMemberus-gaap:CommercialPortfolioSegmentMember2024-01-012024-09-300001409970us-gaap:CommercialRealEstateMemberus-gaap:CommercialPortfolioSegmentMember2024-01-012024-09-300001409970lc:CommercialAndIndustrialLoanMemberus-gaap:CommercialPortfolioSegmentMember2024-01-012024-09-300001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancialAssetNotPastDueMember2024-09-300001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-09-300001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-09-300001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-09-300001409970lc:UnsecuredPersonalLoanMemberlc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMember2024-09-300001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberus-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetNotPastDueMember2024-09-300001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberus-gaap:ResidentialMortgageMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-09-300001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberus-gaap:ResidentialMortgageMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-09-300001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberus-gaap:ResidentialMortgageMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-09-300001409970us-gaap:ResidentialMortgageMemberlc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMember2024-09-300001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberlc:SecuredConsumerLoanMemberus-gaap:FinancialAssetNotPastDueMember2024-09-300001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberlc:SecuredConsumerLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-09-300001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberlc:SecuredConsumerLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-09-300001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberlc:SecuredConsumerLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-09-300001409970lc:SecuredConsumerLoanMemberlc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMember2024-09-300001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMember2024-09-300001409970lc:LoansAndLeasesHeldForInvestmentAtAmortizedCostMember2024-09-300001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310001409970lc:UnsecuredPersonalLoanMemberlc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMember2023-12-310001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberus-gaap:ResidentialMortgageMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberus-gaap:ResidentialMortgageMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberus-gaap:ResidentialMortgageMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberus-gaap:ResidentialMortgageMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310001409970us-gaap:ResidentialMortgageMemberlc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMember2023-12-310001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberlc:SecuredConsumerLoanMemberus-gaap:FinancialAssetNotPastDueMember2023-12-310001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberlc:SecuredConsumerLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberlc:SecuredConsumerLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMemberlc:SecuredConsumerLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310001409970lc:SecuredConsumerLoanMemberlc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMember2023-12-310001409970lc:ConsumerPortfolioSegmentExcludingCumulativeBasisAdjustmentForPortfolioLayerMethodMember2023-12-310001409970lc:LoansAndLeasesHeldForInvestmentAtAmortizedCostMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMemberlc:EquipmentFinanceMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMemberlc:EquipmentFinanceMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMemberlc:EquipmentFinanceMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMemberlc:EquipmentFinanceMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberlc:EquipmentFinanceMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberlc:EquipmentFinanceMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:DoubtfulMemberlc:EquipmentFinanceMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:DoubtfulMemberlc:EquipmentFinanceMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:UnlikelyToBeCollectedFinancingReceivableMemberlc:EquipmentFinanceMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:UnlikelyToBeCollectedFinancingReceivableMemberlc:EquipmentFinanceMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberlc:EquipmentFinanceMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMemberus-gaap:CommercialRealEstateMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMemberus-gaap:CommercialRealEstateMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMemberus-gaap:CommercialRealEstateMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMemberus-gaap:CommercialRealEstateMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberus-gaap:CommercialRealEstateMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberus-gaap:CommercialRealEstateMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:DoubtfulMemberus-gaap:CommercialRealEstateMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:DoubtfulMemberus-gaap:CommercialRealEstateMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:UnlikelyToBeCollectedFinancingReceivableMemberus-gaap:CommercialRealEstateMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:UnlikelyToBeCollectedFinancingReceivableMemberus-gaap:CommercialRealEstateMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMemberlc:CommercialAndIndustrialLoanMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMemberlc:CommercialAndIndustrialLoanMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMemberlc:CommercialAndIndustrialLoanMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMemberlc:CommercialAndIndustrialLoanMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberlc:CommercialAndIndustrialLoanMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberlc:CommercialAndIndustrialLoanMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:DoubtfulMemberlc:CommercialAndIndustrialLoanMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:DoubtfulMemberlc:CommercialAndIndustrialLoanMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:UnlikelyToBeCollectedFinancingReceivableMemberlc:CommercialAndIndustrialLoanMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:UnlikelyToBeCollectedFinancingReceivableMemberlc:CommercialAndIndustrialLoanMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberlc:CommercialAndIndustrialLoanMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMemberus-gaap:CommercialPortfolioSegmentMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMemberlc:EquipmentFinanceMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMemberlc:EquipmentFinanceMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMemberlc:EquipmentFinanceMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMemberlc:EquipmentFinanceMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberlc:EquipmentFinanceMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberlc:EquipmentFinanceMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:DoubtfulMemberlc:EquipmentFinanceMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:DoubtfulMemberlc:EquipmentFinanceMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:UnlikelyToBeCollectedFinancingReceivableMemberlc:EquipmentFinanceMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:UnlikelyToBeCollectedFinancingReceivableMemberlc:EquipmentFinanceMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberlc:EquipmentFinanceMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMemberus-gaap:CommercialRealEstateMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMemberus-gaap:CommercialRealEstateMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMemberus-gaap:CommercialRealEstateMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMemberus-gaap:CommercialRealEstateMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberus-gaap:CommercialRealEstateMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberus-gaap:CommercialRealEstateMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:DoubtfulMemberus-gaap:CommercialRealEstateMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:DoubtfulMemberus-gaap:CommercialRealEstateMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:UnlikelyToBeCollectedFinancingReceivableMemberus-gaap:CommercialRealEstateMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:UnlikelyToBeCollectedFinancingReceivableMemberus-gaap:CommercialRealEstateMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMemberlc:CommercialAndIndustrialLoanMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:PassMemberlc:CommercialAndIndustrialLoanMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMemberlc:CommercialAndIndustrialLoanMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SpecialMentionMemberlc:CommercialAndIndustrialLoanMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberlc:CommercialAndIndustrialLoanMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:SubstandardMemberlc:CommercialAndIndustrialLoanMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:DoubtfulMemberlc:CommercialAndIndustrialLoanMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:DoubtfulMemberlc:CommercialAndIndustrialLoanMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:UnlikelyToBeCollectedFinancingReceivableMemberlc:CommercialAndIndustrialLoanMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:UnlikelyToBeCollectedFinancingReceivableMemberlc:CommercialAndIndustrialLoanMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberlc:CommercialAndIndustrialLoanMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970us-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberlc:EquipmentFinanceMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberlc:EquipmentFinanceMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberlc:EquipmentFinanceMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberlc:EquipmentFinanceMemberus-gaap:FinancialAssetPastDueMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberlc:EquipmentFinanceMemberus-gaap:FinancialAssetPastDueMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:FinancialAssetPastDueMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:FinancialAssetPastDueMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberlc:CommercialAndIndustrialLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberlc:CommercialAndIndustrialLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberlc:CommercialAndIndustrialLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberlc:CommercialAndIndustrialLoanMemberus-gaap:FinancialAssetPastDueMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberlc:CommercialAndIndustrialLoanMemberus-gaap:FinancialAssetPastDueMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2024-09-300001409970us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2024-09-300001409970us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2024-09-300001409970us-gaap:FinancialAssetPastDueMemberus-gaap:CommercialPortfolioSegmentMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2024-09-300001409970us-gaap:CommercialPortfolioSegmentMemberlc:EquipmentFinanceMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberlc:EquipmentFinanceMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberlc:EquipmentFinanceMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberlc:EquipmentFinanceMemberus-gaap:FinancialAssetPastDueMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberlc:EquipmentFinanceMemberus-gaap:FinancialAssetPastDueMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:FinancialAssetPastDueMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:CommercialRealEstateMemberus-gaap:FinancialAssetPastDueMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberlc:CommercialAndIndustrialLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberlc:CommercialAndIndustrialLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberlc:CommercialAndIndustrialLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberlc:CommercialAndIndustrialLoanMemberus-gaap:FinancialAssetPastDueMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberlc:CommercialAndIndustrialLoanMemberus-gaap:FinancialAssetPastDueMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970us-gaap:FinancingReceivables30To59DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310001409970us-gaap:FinancingReceivables60To89DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310001409970us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310001409970us-gaap:FinancialAssetPastDueMemberus-gaap:CommercialPortfolioSegmentMember2023-12-310001409970us-gaap:CommercialPortfolioSegmentMemberus-gaap:FinancialAssetPastDueMemberus-gaap:LoansInsuredOrGuaranteedByUsGovernmentAuthoritiesMember2023-12-310001409970lc:ShortTermPaymentReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2024-07-012024-09-300001409970lc:ShortTermPaymentReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2023-07-012023-09-300001409970lc:ShortTermPaymentReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2024-01-012024-09-300001409970lc:ShortTermPaymentReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2023-01-012023-09-300001409970us-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2024-07-012024-09-300001409970us-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2023-07-012023-09-300001409970us-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2024-01-012024-09-300001409970us-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2023-01-012023-09-300001409970us-gaap:PrincipalForgivenessMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2024-07-012024-09-300001409970us-gaap:PrincipalForgivenessMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2023-07-012023-09-300001409970us-gaap:PrincipalForgivenessMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2024-01-012024-09-300001409970us-gaap:PrincipalForgivenessMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2023-01-012023-09-300001409970lc:UnsecuredPersonalLoanMemberus-gaap:ConsumerPortfolioSegmentMember2024-07-012024-09-300001409970lc:UnsecuredPersonalLoanMemberus-gaap:ConsumerPortfolioSegmentMember2023-07-012023-09-300001409970lc:UnsecuredPersonalLoanMemberus-gaap:ConsumerPortfolioSegmentMember2023-01-012023-09-300001409970lc:ShortTermPaymentReductionModificationMemberlc:ShortTermPaymentReductionMembersrt:MaximumMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2024-01-012024-09-300001409970lc:ShortTermPaymentReductionModificationMemberlc:ShortTermPaymentReductionMembersrt:MinimumMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2024-01-012024-09-300001409970lc:ShortTermPaymentReductionModificationMemberlc:ShortTermPaymentReductionFirstThreeMonthsOfModificationMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2024-09-300001409970lc:PermanentLoanModificationsMemberus-gaap:ExtendedMaturityMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2024-01-012024-09-300001409970lc:PermanentLoanModificationsMemberus-gaap:ContractualInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2024-07-012024-09-300001409970lc:PermanentLoanModificationsMemberus-gaap:ContractualInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2024-01-012024-09-300001409970lc:PermanentLoanModificationsMemberus-gaap:ContractualInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2023-07-012023-09-300001409970lc:PermanentLoanModificationsMemberus-gaap:ContractualInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2023-01-012023-09-300001409970lc:PermanentLoanModificationsMemberus-gaap:ExtendedMaturityMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2024-07-012024-09-300001409970lc:PermanentLoanModificationsMemberus-gaap:ExtendedMaturityMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2023-01-012023-09-300001409970lc:PermanentLoanModificationsMemberus-gaap:ExtendedMaturityMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2023-07-012023-09-300001409970lc:ShortTermPaymentReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancialAssetNotPastDueMember2024-09-300001409970us-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancialAssetNotPastDueMember2024-09-300001409970us-gaap:PrincipalForgivenessMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancialAssetNotPastDueMember2024-09-300001409970lc:ShortTermPaymentReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancialAssetNotPastDueMember2023-09-300001409970us-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancialAssetNotPastDueMember2023-09-300001409970us-gaap:PrincipalForgivenessMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancialAssetNotPastDueMember2023-09-300001409970lc:ShortTermPaymentReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-09-300001409970us-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-09-300001409970us-gaap:PrincipalForgivenessMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2024-09-300001409970lc:ShortTermPaymentReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-09-300001409970us-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-09-300001409970us-gaap:PrincipalForgivenessMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivables30To59DaysPastDueMember2023-09-300001409970lc:ShortTermPaymentReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-09-300001409970us-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-09-300001409970us-gaap:PrincipalForgivenessMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2024-09-300001409970lc:ShortTermPaymentReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-09-300001409970us-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-09-300001409970us-gaap:PrincipalForgivenessMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivables60To89DaysPastDueMember2023-09-300001409970lc:ShortTermPaymentReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-09-300001409970us-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-09-300001409970us-gaap:PrincipalForgivenessMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-09-300001409970lc:ShortTermPaymentReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-09-300001409970us-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-09-300001409970us-gaap:PrincipalForgivenessMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-09-300001409970lc:ShortTermPaymentReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2024-09-300001409970us-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2024-09-300001409970us-gaap:PrincipalForgivenessMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2024-09-300001409970lc:ShortTermPaymentReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2023-09-300001409970us-gaap:ExtendedMaturityAndInterestRateReductionMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2023-09-300001409970us-gaap:PrincipalForgivenessMemberus-gaap:ConsumerPortfolioSegmentMemberlc:UnsecuredPersonalLoanMember2023-09-300001409970us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2024-09-300001409970us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2024-09-300001409970lc:AllVariableInterestEntitiesMember2024-09-300001409970us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2023-12-310001409970us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2023-12-310001409970lc:AllVariableInterestEntitiesMember2023-12-310001409970us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2024-07-012024-09-300001409970us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2023-07-012023-09-300001409970us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2024-01-012024-09-300001409970us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2023-01-012023-09-300001409970us-gaap:ConsumerLoanMember2024-09-300001409970us-gaap:ConsumerLoanMember2023-12-310001409970us-gaap:FairValueInputsLevel1Member2024-09-300001409970us-gaap:FairValueInputsLevel2Member2024-09-300001409970us-gaap:FairValueInputsLevel3Member2024-09-300001409970us-gaap:FairValueInputsLevel1Memberlc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970us-gaap:FairValueInputsLevel2Memberlc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970us-gaap:FairValueInputsLevel3Memberlc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970us-gaap:FairValueInputsLevel1Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-09-300001409970us-gaap:FairValueInputsLevel2Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2024-09-300001409970us-gaap:FairValueInputsLevel1Memberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970us-gaap:FairValueInputsLevel2Memberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970us-gaap:FairValueInputsLevel3Memberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970us-gaap:FairValueInputsLevel1Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2024-09-300001409970us-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2024-09-300001409970us-gaap:FairValueInputsLevel1Memberus-gaap:MortgageBackedSecuritiesMember2024-09-300001409970us-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesMember2024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MortgageBackedSecuritiesMember2024-09-300001409970us-gaap:FairValueInputsLevel1Memberus-gaap:AssetBackedSecuritiesMember2024-09-300001409970us-gaap:FairValueInputsLevel2Memberus-gaap:AssetBackedSecuritiesMember2024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:AssetBackedSecuritiesMember2024-09-300001409970us-gaap:FairValueInputsLevel1Memberlc:MunicipalSecuritiesMember2024-09-300001409970us-gaap:FairValueInputsLevel2Memberlc:MunicipalSecuritiesMember2024-09-300001409970us-gaap:FairValueInputsLevel3Memberlc:MunicipalSecuritiesMember2024-09-300001409970us-gaap:FairValueInputsLevel1Member2023-12-310001409970us-gaap:FairValueInputsLevel2Member2023-12-310001409970us-gaap:FairValueInputsLevel3Member2023-12-310001409970us-gaap:FairValueInputsLevel1Memberlc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970us-gaap:FairValueInputsLevel2Memberlc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970us-gaap:FairValueInputsLevel3Memberlc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970us-gaap:FairValueInputsLevel1Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310001409970us-gaap:FairValueInputsLevel2Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310001409970us-gaap:ResidentialMortgageBackedSecuritiesMember2023-12-310001409970us-gaap:FairValueInputsLevel1Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2023-12-310001409970us-gaap:FairValueInputsLevel2Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:USGovernmentAgenciesDebtSecuritiesMember2023-12-310001409970us-gaap:FairValueInputsLevel1Memberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970us-gaap:FairValueInputsLevel2Memberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970us-gaap:FairValueInputsLevel3Memberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970us-gaap:FairValueInputsLevel1Memberus-gaap:MortgageBackedSecuritiesMember2023-12-310001409970us-gaap:FairValueInputsLevel2Memberus-gaap:MortgageBackedSecuritiesMember2023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MortgageBackedSecuritiesMember2023-12-310001409970us-gaap:FairValueInputsLevel1Memberus-gaap:AssetBackedSecuritiesMember2023-12-310001409970us-gaap:FairValueInputsLevel2Memberus-gaap:AssetBackedSecuritiesMember2023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:AssetBackedSecuritiesMember2023-12-310001409970us-gaap:FairValueInputsLevel1Memberlc:MunicipalSecuritiesMember2023-12-310001409970us-gaap:FairValueInputsLevel2Memberlc:MunicipalSecuritiesMember2023-12-310001409970us-gaap:FairValueInputsLevel3Memberlc:MunicipalSecuritiesMember2023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberlc:LoansHeldForSaleMembersrt:MinimumMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberlc:LoansHeldForSaleMembersrt:MaximumMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberlc:LoansHeldForSaleMembersrt:WeightedAverageMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberlc:LoansHeldForSaleMembersrt:MinimumMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberlc:LoansHeldForSaleMembersrt:MaximumMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberlc:LoansHeldForSaleMembersrt:WeightedAverageMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMemberlc:LoansHeldForSaleMembersrt:MinimumMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMemberlc:LoansHeldForSaleMembersrt:MaximumMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMemberlc:LoansHeldForSaleMembersrt:WeightedAverageMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMemberlc:LoansHeldForSaleMembersrt:MinimumMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMemberlc:LoansHeldForSaleMembersrt:MaximumMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMemberlc:LoansHeldForSaleMembersrt:WeightedAverageMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMemberlc:LoansHeldForSaleMembersrt:MinimumMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMemberlc:LoansHeldForSaleMembersrt:MaximumMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMemberlc:LoansHeldForSaleMembersrt:WeightedAverageMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMemberlc:LoansHeldForSaleMembersrt:MinimumMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMemberlc:LoansHeldForSaleMembersrt:MaximumMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMemberlc:LoansHeldForSaleMembersrt:WeightedAverageMember2023-01-012023-12-310001409970us-gaap:FairValueMeasurementsRecurringMemberlc:LoansHeldForSaleMember2024-09-300001409970us-gaap:FairValueMeasurementsRecurringMemberlc:LoansHeldForSaleMember2023-12-310001409970lc:LoansHeldForSaleMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputExpectedTermMember2024-01-012024-09-300001409970lc:LoansHeldForSaleMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputExpectedTermMember2023-01-012023-12-310001409970lc:LoansHeldForSaleMember2024-06-300001409970lc:LoansHeldForSaleMember2023-06-300001409970lc:LoansHeldForSaleMember2023-12-310001409970lc:LoansHeldForSaleMember2022-12-310001409970lc:LoansHeldForSaleMember2024-07-012024-09-300001409970lc:LoansHeldForSaleMember2023-07-012023-09-300001409970lc:LoansHeldForSaleMember2024-01-012024-09-300001409970lc:LoansHeldForSaleMember2023-01-012023-09-300001409970lc:LoansHeldForSaleMember2024-09-300001409970lc:LoansHeldForSaleMember2023-09-300001409970lc:LoansHeldForSaleMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-09-300001409970lc:LoansHeldForSaleMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310001409970lc:LoansHeldforInvestmentMember2024-07-012024-09-300001409970lc:LoansHeldforInvestmentMemberus-gaap:FairValueMeasurementsRecurringMemberlc:RetailAndCertificateLoansMember2024-09-300001409970lc:LoansHeldforInvestmentMemberus-gaap:FairValueMeasurementsRecurringMemberlc:RetailAndCertificateLoansMember2023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberlc:LoansHeldforInvestmentMembersrt:MinimumMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberlc:LoansHeldforInvestmentMembersrt:MaximumMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberlc:LoansHeldforInvestmentMembersrt:WeightedAverageMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberlc:LoansHeldforInvestmentMembersrt:MinimumMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberlc:LoansHeldforInvestmentMembersrt:MaximumMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberlc:LoansHeldforInvestmentMembersrt:WeightedAverageMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMemberlc:LoansHeldforInvestmentMembersrt:MinimumMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMemberlc:LoansHeldforInvestmentMembersrt:MaximumMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMemberlc:LoansHeldforInvestmentMembersrt:WeightedAverageMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMemberlc:LoansHeldforInvestmentMembersrt:MinimumMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMemberlc:LoansHeldforInvestmentMembersrt:MaximumMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMemberlc:LoansHeldforInvestmentMembersrt:WeightedAverageMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMemberlc:LoansHeldforInvestmentMembersrt:MinimumMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMemberlc:LoansHeldforInvestmentMembersrt:MaximumMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMemberlc:LoansHeldforInvestmentMembersrt:WeightedAverageMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMemberlc:LoansHeldforInvestmentMembersrt:MinimumMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMemberlc:LoansHeldforInvestmentMembersrt:MaximumMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMemberlc:LoansHeldforInvestmentMembersrt:WeightedAverageMember2023-01-012023-12-310001409970us-gaap:FairValueMeasurementsRecurringMemberlc:LoansHeldforInvestmentMember2024-09-300001409970us-gaap:FairValueMeasurementsRecurringMemberlc:LoansHeldforInvestmentMember2023-12-310001409970lc:LoansHeldforInvestmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputExpectedTermMembersrt:WeightedAverageMember2024-01-012024-09-300001409970lc:LoansHeldforInvestmentMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:MeasurementInputExpectedTermMembersrt:WeightedAverageMember2023-01-012023-12-310001409970lc:LoansHeldforInvestmentMember2024-06-300001409970lc:LoansHeldforInvestmentMember2023-06-300001409970lc:LoansHeldforInvestmentMember2023-12-310001409970lc:LoansHeldforInvestmentMember2022-12-310001409970lc:LoansHeldforInvestmentMember2023-07-012023-09-300001409970lc:LoansHeldforInvestmentMember2024-01-012024-09-300001409970lc:LoansHeldforInvestmentMember2023-01-012023-09-300001409970lc:LoansHeldforInvestmentMember2024-09-300001409970lc:LoansHeldforInvestmentMember2023-09-300001409970lc:LoansHeldforInvestmentMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ConsumerLoanMember2024-09-300001409970lc:LoansHeldforInvestmentMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ConsumerLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2024-09-300001409970lc:LoansHeldforInvestmentMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ConsumerLoanMember2023-12-310001409970lc:LoansHeldforInvestmentMemberus-gaap:EstimateOfFairValueFairValueDisclosureMemberus-gaap:FairValueMeasurementsRecurringMemberus-gaap:ConsumerLoanMemberus-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember2023-12-310001409970us-gaap:MeasurementInputDiscountRateMembersrt:MinimumMemberlc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970us-gaap:MeasurementInputDiscountRateMembersrt:MaximumMemberlc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970us-gaap:MeasurementInputDiscountRateMembersrt:WeightedAverageMemberlc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970us-gaap:MeasurementInputDiscountRateMembersrt:MinimumMemberlc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970us-gaap:MeasurementInputDiscountRateMembersrt:MaximumMemberlc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970us-gaap:MeasurementInputDiscountRateMembersrt:WeightedAverageMemberlc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970srt:WeightedAverageMemberlc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970srt:WeightedAverageMemberlc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970lc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2024-06-300001409970lc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2023-06-300001409970lc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970lc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2022-12-310001409970lc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2024-07-012024-09-300001409970lc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2023-07-012023-09-300001409970lc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2024-01-012024-09-300001409970lc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2023-01-012023-09-300001409970lc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970lc:SeniorAssetBackedSecuritiesStructuredProgramTransactionsMember2023-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMembersrt:MinimumMemberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMembersrt:MaximumMemberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMembersrt:WeightedAverageMemberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMembersrt:MinimumMemberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMembersrt:MaximumMemberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMembersrt:WeightedAverageMemberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMembersrt:MinimumMemberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMembersrt:MaximumMemberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMembersrt:WeightedAverageMemberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMembersrt:MinimumMemberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMembersrt:MaximumMemberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMembersrt:WeightedAverageMemberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMembersrt:MinimumMemberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMembersrt:MaximumMemberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMembersrt:WeightedAverageMemberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMembersrt:MinimumMemberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMembersrt:MaximumMemberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMembersrt:WeightedAverageMemberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970srt:WeightedAverageMemberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970srt:WeightedAverageMemberlc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970lc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2024-06-300001409970lc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2023-06-300001409970lc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2023-12-310001409970lc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2022-12-310001409970lc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2024-07-012024-09-300001409970lc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2023-07-012023-09-300001409970lc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2024-01-012024-09-300001409970lc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2023-01-012023-09-300001409970lc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2023-07-012023-09-300001409970lc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2023-01-012023-09-300001409970lc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2024-09-300001409970lc:OtherAssetBackedSecuritiesStructuredProgramTransactionsMember2023-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberlc:ServicingAssetsMembersrt:MinimumMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberlc:ServicingAssetsMembersrt:MaximumMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberlc:ServicingAssetsMembersrt:WeightedAverageMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberlc:ServicingAssetsMembersrt:MinimumMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberlc:ServicingAssetsMembersrt:MaximumMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputDiscountRateMemberlc:ServicingAssetsMembersrt:WeightedAverageMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMemberlc:ServicingAssetsMembersrt:MinimumMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMemberlc:ServicingAssetsMembersrt:MaximumMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMemberlc:ServicingAssetsMembersrt:WeightedAverageMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMemberlc:ServicingAssetsMembersrt:MinimumMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMemberlc:ServicingAssetsMembersrt:MaximumMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputLossSeverityMemberlc:ServicingAssetsMembersrt:WeightedAverageMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMemberlc:ServicingAssetsMembersrt:MinimumMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMemberlc:ServicingAssetsMembersrt:MaximumMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMemberlc:ServicingAssetsMembersrt:WeightedAverageMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMemberlc:ServicingAssetsMembersrt:MinimumMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMemberlc:ServicingAssetsMembersrt:MaximumMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:MeasurementInputPrepaymentRateMemberlc:ServicingAssetsMembersrt:WeightedAverageMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberlc:ServicingAssetsMembersrt:MinimumMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberlc:ServicingAssetsMembersrt:MaximumMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberlc:ServicingAssetsMembersrt:WeightedAverageMember2024-01-012024-09-300001409970us-gaap:FairValueInputsLevel3Memberlc:ServicingAssetsMembersrt:MinimumMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberlc:ServicingAssetsMembersrt:MaximumMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberlc:ServicingAssetsMembersrt:WeightedAverageMember2023-01-012023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberlc:ServicingAssetsMember2024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMemberlc:ServicingAssetsMember2023-12-310001409970us-gaap:FairValueMeasurementsRecurringMember2024-01-012024-09-300001409970us-gaap:FairValueMeasurementsRecurringMember2023-01-012023-12-310001409970us-gaap:FairValueMeasurementsRecurringMember2024-09-300001409970us-gaap:FairValueMeasurementsRecurringMember2023-12-310001409970us-gaap:FairValueMeasurementsRecurringMember2024-06-300001409970us-gaap:FairValueMeasurementsRecurringMember2023-06-300001409970us-gaap:FairValueMeasurementsRecurringMember2022-12-310001409970us-gaap:FairValueMeasurementsRecurringMember2024-07-012024-09-300001409970us-gaap:FairValueMeasurementsRecurringMember2023-07-012023-09-300001409970us-gaap:FairValueMeasurementsRecurringMember2023-01-012023-09-300001409970us-gaap:FairValueMeasurementsRecurringMember2023-09-300001409970us-gaap:CarryingReportedAmountFairValueDisclosureMember2024-09-300001409970us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-09-300001409970us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-09-300001409970us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2024-09-300001409970us-gaap:EstimateOfFairValueFairValueDisclosureMember2024-09-300001409970us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310001409970us-gaap:FairValueInputsLevel1Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001409970us-gaap:FairValueInputsLevel2Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001409970us-gaap:FairValueInputsLevel3Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001409970us-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310001409970us-gaap:OtherCreditDerivativesMember2024-09-300001409970us-gaap:OtherCreditDerivativesMember2023-12-310001409970us-gaap:InterestRateCapMember2024-09-300001409970us-gaap:InterestRateCapMember2023-12-310001409970us-gaap:OtherCreditDerivativesMember2024-07-012024-09-300001409970us-gaap:OtherCreditDerivativesMember2023-07-012023-09-300001409970us-gaap:OtherCreditDerivativesMember2024-01-012024-09-300001409970us-gaap:OtherCreditDerivativesMember2023-01-012023-09-300001409970us-gaap:InterestRateCapMember2024-07-012024-09-300001409970us-gaap:InterestRateCapMember2023-07-012023-09-300001409970us-gaap:InterestRateCapMember2024-01-012024-09-300001409970us-gaap:InterestRateCapMember2023-01-012023-09-300001409970us-gaap:InterestRateSwapMembersrt:MinimumMember2024-01-012024-09-300001409970us-gaap:InterestRateSwapMembersrt:MaximumMember2024-01-012024-09-300001409970us-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FinanceReceivablesMember2024-09-300001409970us-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FinanceReceivablesMember2023-12-310001409970us-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AvailableforsaleSecuritiesMember2024-09-300001409970us-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:AvailableforsaleSecuritiesMember2023-12-310001409970us-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2024-09-300001409970us-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMemberus-gaap:DesignatedAsHedgingInstrumentMember2023-12-310001409970lc:InterestAndFeesOnLoansHeldForInvestmentMember2024-07-012024-09-300001409970lc:InterestAndFeesOnLoansHeldForInvestmentMember2023-07-012023-09-300001409970lc:InterestAndFeesOnLoansHeldForInvestmentMember2024-01-012024-09-300001409970lc:InterestAndFeesOnLoansHeldForInvestmentMember2023-01-012023-09-300001409970lc:InterestOnSecuritiesAvailableForSaleMember2024-07-012024-09-300001409970lc:InterestOnSecuritiesAvailableForSaleMember2023-07-012023-09-300001409970lc:InterestOnSecuritiesAvailableForSaleMember2024-01-012024-09-300001409970lc:InterestOnSecuritiesAvailableForSaleMember2023-01-012023-09-300001409970us-gaap:AvailableforsaleSecuritiesMember2024-09-300001409970us-gaap:AvailableforsaleSecuritiesMember2023-12-310001409970us-gaap:SoftwareDevelopmentMember2024-09-300001409970us-gaap:SoftwareDevelopmentMember2023-12-310001409970lc:SoftwareDevelopmentPurchasedSoftwareMember2024-09-300001409970lc:SoftwareDevelopmentPurchasedSoftwareMember2023-12-310001409970us-gaap:PropertyPlantAndEquipmentOtherTypesMember2024-07-012024-09-300001409970us-gaap:PropertyPlantAndEquipmentOtherTypesMember2024-01-012024-09-300001409970us-gaap:PropertyPlantAndEquipmentOtherTypesMember2023-07-012023-09-300001409970us-gaap:PropertyPlantAndEquipmentOtherTypesMember2023-01-012023-09-300001409970us-gaap:CustomerRelationshipsMember2024-09-300001409970us-gaap:CustomerRelationshipsMember2023-12-310001409970us-gaap:CustomerRelationshipsMembersrt:MinimumMember2024-09-300001409970us-gaap:CustomerRelationshipsMembersrt:MaximumMember2024-09-300001409970lc:FederalReserveBankBorrowingsMember2024-09-300001409970us-gaap:AssetPledgedAsCollateralMemberlc:FederalReserveBankBorrowingsMember2024-09-300001409970lc:FederalReserveBankBorrowingsMember2023-12-310001409970us-gaap:AssetPledgedAsCollateralMemberlc:FederalReserveBankBorrowingsMember2023-12-310001409970us-gaap:FederalHomeLoanBankAdvancesMember2024-09-300001409970us-gaap:AssetPledgedAsCollateralMemberus-gaap:FederalHomeLoanBankAdvancesMember2024-09-300001409970us-gaap:FederalHomeLoanBankAdvancesMember2023-12-310001409970us-gaap:AssetPledgedAsCollateralMemberus-gaap:FederalHomeLoanBankAdvancesMember2023-12-310001409970lc:RetailNotesCertificatesAndSecuredBorrowingsMember2024-09-300001409970lc:RetailNotesCertificatesAndSecuredBorrowingsMember2023-12-310001409970lc:PaycheckProtectionProgramLiquidityFacilityAndPayableOnStructuredProgramBorrowingsMember2023-12-310001409970lc:PaycheckProtectionProgramLiquidityFacilityMember2023-12-310001409970lc:PaycheckProtectionProgramLiquidityFacilityMember2023-12-310001409970lc:PayableOnStructuredProgramBorrowingsMember2023-12-310001409970lc:PayableOnStructuredProgramBorrowingsMember2023-12-310001409970us-gaap:RestrictedStockUnitsRSUMember2024-07-012024-09-300001409970us-gaap:RestrictedStockUnitsRSUMember2023-07-012023-09-300001409970us-gaap:RestrictedStockUnitsRSUMember2024-01-012024-09-300001409970us-gaap:RestrictedStockUnitsRSUMember2023-01-012023-09-300001409970us-gaap:PerformanceSharesMember2024-07-012024-09-300001409970us-gaap:PerformanceSharesMember2023-07-012023-09-300001409970us-gaap:PerformanceSharesMember2024-01-012024-09-300001409970us-gaap:PerformanceSharesMember2023-01-012023-09-300001409970us-gaap:RestrictedStockUnitsRSUMember2023-12-310001409970us-gaap:RestrictedStockUnitsRSUMember2024-09-300001409970us-gaap:PerformanceSharesMember2023-12-310001409970us-gaap:PerformanceSharesMember2024-09-300001409970srt:MinimumMember2024-09-300001409970srt:MaximumMember2024-09-300001409970us-gaap:OccupancyMember2024-07-012024-09-300001409970us-gaap:OccupancyMember2024-01-012024-09-300001409970us-gaap:OccupancyMember2023-07-012023-09-300001409970us-gaap:OccupancyMember2023-01-012023-09-300001409970lc:UnfundedLoanCommitmentCommitmentsToExtendCreditMember2023-12-310001409970lc:LendingClubMember2024-09-300001409970lc:LendingClubMember2023-12-310001409970lc:LendingClubBankMember2024-09-300001409970lc:LendingClubBankMember2023-12-3100014099702021-12-310001409970lc:OneCustomerMemberus-gaap:CustomerConcentrationRiskMemberus-gaap:SalesRevenueNetMember2023-01-012023-09-300001409970us-gaap:OperatingSegmentsMemberlc:LendingClubBankMember2024-07-012024-09-300001409970us-gaap:OperatingSegmentsMemberlc:LendingClubBankMember2023-07-012023-09-300001409970us-gaap:OperatingSegmentsMemberlc:LendingClubCorporationMember2024-07-012024-09-300001409970us-gaap:OperatingSegmentsMemberlc:LendingClubCorporationMember2023-07-012023-09-300001409970us-gaap:IntersegmentEliminationMember2024-07-012024-09-300001409970us-gaap:IntersegmentEliminationMember2023-07-012023-09-300001409970us-gaap:OperatingSegmentsMemberlc:LendingClubBankMember2024-01-012024-09-300001409970us-gaap:OperatingSegmentsMemberlc:LendingClubBankMember2023-01-012023-09-300001409970us-gaap:OperatingSegmentsMemberlc:LendingClubCorporationMember2024-01-012024-09-300001409970us-gaap:OperatingSegmentsMemberlc:LendingClubCorporationMember2023-01-012023-09-300001409970us-gaap:IntersegmentEliminationMember2024-01-012024-09-300001409970us-gaap:IntersegmentEliminationMember2023-01-012023-09-300001409970us-gaap:OperatingSegmentsMemberlc:LendingClubBankMember2024-09-300001409970us-gaap:OperatingSegmentsMemberlc:LendingClubBankMember2023-12-310001409970us-gaap:OperatingSegmentsMemberlc:LendingClubCorporationMember2024-09-300001409970us-gaap:OperatingSegmentsMemberlc:LendingClubCorporationMember2023-12-310001409970us-gaap:IntersegmentEliminationMember2024-09-300001409970us-gaap:IntersegmentEliminationMember2023-12-310001409970lc:JordanChengMember2024-01-012024-09-300001409970lc:JordanChengMember2024-07-012024-09-300001409970lc:JordanChengMember2024-09-300001409970lc:ErinSelleckMember2024-01-012024-09-30

美國
證券交易委員會
華盛頓特區20549
格式
10-Q
☒根據1934年證券交易法第13或15(d)節的季度報告
截至季度結束日期的財務報告2024年9月30日
委託文件編號：001-39866001-36771
 
lendingclub 公司
(根據其章程規定的註冊人準確名稱)
特拉華州51-0605731
（國家或其他管轄區的
公司成立或組織）		（IRS僱主
唯一識別號碼）
595 Market Street, Suite 200,
舊金山,加利福尼亞州94105
（總部地址及郵政編碼）
公司電話號碼，包括區號：（415) 930-7440
在法案第12(b)條的規定下注冊的證券：
每一類的名稱交易代碼在其上註冊的交易所的名稱
普通股，每股面值0.01美元LC請使用moomoo賬號登錄查看New York Stock Exchange
請在以下空格內打勾，以表示註冊人：(1)在過去12個月(或註冊人所要求提交此類報告的更短期間內)已提交了根據1934年證券交易法第13或15(d)條規定需要提交的所有報告；並且(2)在過去90個天內一直遵守此類提交要求。是  ☒    否  ☐
請檢查標記，指示發行人是否已根據S-t條例（本章節第232.405條）的規定，在過去的12個月內（或發行人需提交此類文件的較短期間）按規定提交了每個交互式數據文件。是☒  否 ☐
請在交易所法規則120.2規定的「大型加速申報人」、「加速申報人」、「小型報告公司」和「新興成長公司」的定義中選中相應選項。
大型加速報告人 ☒加速文件提交人☐
非加速文件提交人 ☐更小的報告公司☐
新興成長公司☐
如果是新興成長型公司，請在複選框中打勾，以確定註冊人是否選擇不使用在1934年證券交易法第13(a)條項下提供的任何新的或修訂的財務會計準準則的延長過渡期。☐
請通過複選標記來指示註冊人是否爲殼公司（如《交易所法》規則120億.2所定義）。 是 ☐ 否 ☒
截至2024年10月18日，共有 112,401,990 股。


LENDINGCLUB公司
目錄

1

術語簡介

以下是lendingclub公司在財務報告中經常使用的常見縮略詞和術語列表：
ACL
信用損失準備金（包括貸款和租賃損失準備金、可供出售證券準備金和未撥款放款承諾準備金）
收購收購Radius Bancorp，Inc。
可供出售金融資產可供出售
貸款和租賃損失撥備貸款及租賃損失撥備
年度報告
公司的《第II部分第7項》年度報告於2023年12月31日結束。
會計準則更新會計準則更新
資產管理規模
管理資產（公司服務的貸款發放未償餘額，包括出售給投資者的貸款，以及公司持有的用於投資和出售的貸款）
資產負債表：彙編的綜合資產負債表
CECL（Current expected credit losses，預期信貸損失）當前預期信用損失（會計準則更新2016-13，金融工具-信用損失（326號課題）：金融工具信用損失的計量）
普通股股本的風險調整資本率一級資本
CET1資本比例
按照巴塞爾III資本框架下定義的普通股一級資本與總風險加權資產比率
DCF貼現現金流
每股收益每股收益
使擁有公司註冊證券類別10%以上股權的官員、董事或實際股東代表簽署人遞交表格3、4和5（包括修正版及有關聯合遞交協議）,符合證券交易法案第16(a)條及其下屬規則規定的要求；證券交易所法(1934年修改)第425條規定
FRb或聯邦儲備銀行美國聯邦儲備系統理事會，以及相應的聯邦儲備銀行
通用會計原則(GAAP)美國通用會計準則
持有至到期投資公司保留並用於投資的貸款
持有待售投資預計將出售給投資者的待售貸款，包括市場貸款
損益表收入簡明合併表格
LC 銀行或 lendingclub 銀行lendingclub 銀行，全國協會
lendingclub, LC, 公司, 我們, 我們, 或 我們的lendingclub銀行及其子公司
貸款發放
公司發放或由第三方髮卡銀行協助發放的無抵押個人貸款和汽車再融資貸款
市場貸款
包括被指定爲HFS並隨後出售給投資者的貸款發放，以及由第三方髮卡銀行協助發放的貸款發放
N/M不具有意義
OCC運用其專業知識爲每個終端用戶應用程序提供最適合性能要求的電纜和連接產品及集成解決方案。 OCC的解決方案涵蓋廣泛的應用範圍-從商業，企業網絡，數據中心，住宅和校園安裝到爲軍事，工業，採礦業，石化和廣播應用以及無線運營商市場定製產品到惡劣環境，包括。華盛頓特區，郵編20219
母公司。
lendingclub公司 (lendingclub銀行全國協會及其他子公司的母公司)
PPNR 或 預計淨收入
一種非通用會計準則財務指標，通過從淨利潤中減去信貸損失準備和所得稅收益/費用計算得出
RadiusRadius Bancorp，Inc.
SEC美國證券交易所委員會
證券法1933年證券法, 經修訂版
現金流量表
簡明的綜合現金流量表
2

結構化證券
資產支持證券化交易，公司於交易時保留高級票據安全保證，以預定價格將剩餘證書出售給市場投資者
結構化計劃交易
資產支持證券化交易，包括結構化證券交易，在這些交易中，特定的認可投資者和合格的機構投資者有機會投資於由一攬子無抵押個人整個貸款支持的證券
一級資本充足率
第一層資本，包括普通股一級資本以及符合額外第一層資本標準的不累積永久優先股權，按照巴塞爾Ⅲ資本框架下定義的總風險加權資產計算
一級槓桿比率
第一層資本，包括普通股一級資本以及符合額外第一層資本標準的不累積永久優先股權，按照巴塞爾Ⅲ資本框架下定義的季度調整平均資產計算
總資本充足率
總資本，包括普通股第一級資本、第一級資本、信貸損失準備金和符合第二級資本標準的資格次級債務，除以根據巴塞爾III資本框架定義的總風險加權資產
無抵押個人貸款
公司平台上發起的無抵押個人貸款，包括面向消費者的在線直接平台和與一系列教育和患者金融提供者聯接的平台
VIE可變利益實體
3

LENDINGCLUB公司

除非上下文另有要求，在本文件中，「lendingclub」，「公司」，「我們」，「我們」，及「我們的」指代LendingClub Corporation，一家特拉華州的公司，情況適用時還包括其合併子公司和合並變量利益實體（VIEs），包括LendingClub銀行，國家協會（LC銀行），以及各種旨在促進LendingClub結構化計劃下貸款銷售交易的實體。

前瞻性聲明

本季度10-Q表格報告（報告）包含根據《證券法》第27A條和《證券交易法》第21E條的定義屬於前瞻性聲明。在本報告中的前瞻性聲明包括但不限於關於借款人、信用評分、我們的策略、未來業務、預期損失、未來財務狀況、未來營業收入、預期成本、前景、計劃、管理目標、預期市場增長和對我們業務的影響的描述。您可以通過諸如「預期」、「表現」、「相信」、「繼續」、「可能」、「估計」、「期望」、「預測」、「未來」、「打算」、「可能」、「機會」、「計劃」、「預測」、「項目」、「應該」、「策略」、「目標」、「將」、「將會」或類似表達來識別這些前瞻性聲明。

這些前瞻性聲明包括但不限於以下內容：

•我們及第三方合作伙伴或提供商需遵守適用的地方、州和聯邦法律、法規以及影響我們業務的監管發展或法院裁決。
•會計準則或政策的影響，包括當前預期信用損失（CECL）標準；
•美國監管機構對我們的審查結果以及任何此類監管機構可能要求我們限制業務活動、增加貸款準備金、增加資本水平或影響我們借款能力或保持或增加存款的可能性。
•我們有能力有效管理資本或流動性，以支持我們不斷髮展的業務或運營需求，同時保持符合監管要求和適當的風險管理標準；
•對我們存入資金基礎的變化影響;
•持續或改變短期和開多時間利率環境和經濟氛圍的影響;
•借款人償還貸款的能力和意願；
•我們相信我們商業貸款組合中的某些貸款和租賃將按合同貸款條款完全償還;
•我們有能力維持投資者對我們平台的信懇智能；
•我們貸款產品的表現和投資者預期收益率；
•對待決訴訟和政府調查以及調查能力的影響及我們的解決能力;
•使用我們自己的資金購買貸款;
•我們的意圖是不賣出我們可供出售（AFS）的投資組合；
•我們的財務狀況和表現，包括管理層估計對我們財務表現的影響以及中期和全年業績之間的關係；
•用於估值我們金融工具的公允價值估計；
•我們對利率敏感度的估計；
•我們對依賴抵押品的貸款預期信用損失的計算；
•我們估計的最大損失承受能力;
•我們對貸款服務費收入的預期是基於預測的提前償還和貸款出售時估計的市場服務費率。
•資本支出；
•我們遵守合同義務或限制；
•我們能夠開發和維護有效的內部控制能力；
•我們繼續實現我們數字化市場銀行業務模式的財務和戰略收益的能力；和
•其他風險因素會不時在我們向美國證券交易委員會提交的報告中列出。
4

LENDINGCLUB公司


我們提醒您，前述列表可能並未包含本報告中所有的前瞻性聲明。我們可能無法真正實現前瞻性聲明中披露的計劃、意圖或期望，您不應過度依賴前瞻性聲明。我們已在本報告的「風險因素」部分，以及截至2023年12月31日的年度10-k形式報告中，以及在本報告及我們向SEC提交的其他文件中出現的簡明綜合財務報表、相關附註和其他信息中，包含了重要因素，這些因素可能導致真實結果或事件與本報告中的前瞻性聲明實質性不符。前瞻性聲明不反映我們未來任何收購、合併、剝離、合資或投資可能造成的潛在影響。

您應該仔細完整地閱讀這份報告，並理解實際未來結果可能會大不相同於我們的預期。除非法律要求，我們不承擔更新或修訂任何前瞻性聲明的義務，無論是基於新信息、實際結果、未來事件或其他原因。

5

第一部分 財務信息
項目1.基本報表
借貸俱樂部公司
簡明合併資產負債表
（以千爲單位，股份和每股金額除外）
(未經審計)
2022年9月30日
2024		12月31日
2023
資產
現金和存放在銀行的款項$25,558 $14,993 
銀行中的 bearing 存款991,372 1,237,511 
現金及現金等價物總額1,016,930 1,252,504 
限制性現金(1)
33,347 41,644 
可供出售證券按公允價值計量（$3,319,988 和 $1,663,990 分別以攤銷成本計量
3,311,418 1,620,262 
按公允價值計量的待售貸款849,967 407,773 
持有投資貸款和租賃融資4,108,329 4,850,302 
貸款和租賃損失撥備(220,564)(310,387)
投資持有的貸款和租賃淨額3,887,765 4,539,915 
按公允價值持有的投資貸款 (1)(2)
1,287,495 272,678 
資產、設備及軟件淨額167,809 161,517 
商譽75,717 75,717 
其他 (1)
407,059 455,453 
總資產$11,037,507 $8,827,463 
負債和股東權益
存款：
計息帳戶$9,099,092 $7,001,680 
非計息帳戶360,516 331,806 
存款總額9,459,608 7,333,486 
借款(1)(2)
2,683 19,354 
其他負債 (1)
232,321 222,801 
負債合計9,694,612 7,575,641 
股權
普通股，每股面值爲 $0.0001；0.01面值;180,000,000.01股已發行並流通；112,401,990和頁面。110,410,602 已發行和未流通股份
1,124 1,104 
額外實收資本
1,692,538 1,669,828 
累積赤字(347,196)(388,806)
累計其他綜合損失(3,571)(30,304)
股東權益總計1,342,895 1,251,822 
負債和所有者權益總額$11,037,507 $8,827,463 
(1)    包括2023年12月31日的以合併可變利益實體記載的金額。請參見“簡明合併財務報表註釋 - 注6.證券化和變量利益實體.”
(2)    之前的金額已按照當前期間的格式重新分類。

請參閱簡明合併財務報表中的說明。
6

LENDINGCLUB公司
收入簡明合併表格
（以千爲單位，股份和每股金額除外）
(未經審計)
截至三個月結束
2022年9月30日		九個月結束
2022年9月30日
 2024202320242023
非息收入：
市場收入$58,384 $60,886 $170,628 $239,303 
其他非利息收入3,256 2,958 7,525 9,349 
總非利息收入61,640 63,844 178,153 248,652 
利息收入：
持有待售貸款的利息30,326 9,582 71,746 19,772 
投資持有的貸款和租賃的利息和費用118,788 158,960 376,000 471,512 
公允價值投資持有的貸款利息 (1)
26,345 12,605 46,801 64,066 
可供出售證券的利息52,476 9,467 130,702 19,315 
其他利息收入12,442 16,798 42,113 49,646 
總利息收入240,377 207,412 667,362 624,311 
利息支出:
贖回Baskets的日元數量。如果Trust的日元被提取以支付Trust的開支，需要創建籃子或在籃子贖回時發生的，用於表示Baskets的日元數量的代幣的日元數量可能會隨着時間的推移而逐漸減少。96,863 69,509 271,019 189,303 
其他利息費用 (1)
3,273 898 4,686 4,647 
總利息支出100,136 70,407 275,705 193,950 
淨利息收入140,241 137,005 391,657 430,361 
營業收入總額201,881 200,849 569,810 679,013 
撥備47,541 64,479 115,029 201,658 
非利息支出：
薪酬和福利57,408 58,497 173,502 203,357 
市場營銷26,186 19,555 76,987 70,375 
設備和軟件12,789 12,631 37,833 40,295 
折舊和攤銷13,341 11,250 39,086 35,242 
專業服務8,014 8,414 22,909 27,446 
佔用率4,005 4,612 11,807 13,606 
其他非利息支出14,589 13,076 38,699 46,101 
非利息支出總額136,332 128,035 400,823 436,422 
稅前收入
18,008 8,335 53,958 40,933 
所得稅費用
(3,551)(3,327)(12,348)(12,149)
淨收入$14,457 $5,008 $41,610 $28,784 
每股收益: (2)
每股收益$0.13 $0.05 $0.37 $0.27 
攤薄後每股收益$0.13 $0.05 $0.37 $0.27 
加權平均普通股-基本112,042,202 109,071,180 111,376,778 107,966,544 
加權平均普通股-攤薄113,922,256 109,073,194 112,027,815 107,969,920 
(1)    之前的金額已按照當前期間的格式重新分類。
(2)    參見「」了解證券交易委員會對此類賠償條款的立場基本報表附註-第3條。每股收益附加信息請參閱。

請參閱簡明合併財務報表中的說明。
7

LENDINGCLUB公司
綜合收益（損失）的簡明合併報表
（以千爲單位）
(未經審計)
截至三個月結束
2022年9月30日		九個月結束
2022年9月30日
2024202320242023
淨收入$14,457 $5,008 $41,610 $28,784 
其他綜合收益（損失）：
證券可供出售金融資產公允價值變動影響淨利潤
47,012 (20,547)37,326 (22,706)
稅前其他綜合收益(虧損)
47,012 (20,547)37,326 (22,706)
所得稅影響(13,198)5,583 (10,593)6,170 
其他綜合收益（虧損），淨額
33,814 (14,964)26,733 (16,536)
總綜合收益（損失）
$48,271 $(9,956)$68,343 $12,248 

請參閱簡明合併財務報表中的說明。
8

LENDINGCLUB公司
壓縮的綜合權益變動表
股票數量
(未經審計)
普通股額外的
實收資本
資本		其他積累
綜合
損失		累積的
$		總費用
股權
 股份數量
2024年6月30日餘額
111,812,215 $1,118 $1,685,865 $(37,385)$(361,653)$1,287,945 
以股票爲基礎的報酬計劃— — 11,248 — — 11,248 
股權激勵計劃下的淨髮行589,775 6 (4,575)— — (4,569)
可供出售證券的未實現收益，稅後淨額
— — — 33,814 — 33,814 
淨收入— — — — 14,457 14,457 
2024年9月30日餘額
112,401,990 $1,124 $1,692,538 $(3,571)$(347,196)$1,342,895 
普通股額外的
實收資本
資本
其他積累
綜合
損失
累積的
$		總費用
股權
股份數量
2023年12月31日的餘額
110,410,602 $1,104 $1,669,828 $(30,304)$(388,806)$1,251,822 
以股票爲基礎的報酬計劃— — 36,162 — — 36,162 
股權激勵計劃下的淨髮行量1,991,388 20 (13,452)— — (13,432)
可供出售證券的未實現賬面收益淨額，稅後
— — — 26,733 — 26,733 
淨收入
— — — — 41,610 41,610 
2024年9月30日餘額
112,401,990 $1,124 $1,692,538 $(3,571)$(347,196)$1,342,895 
普通股額外的
實收資本
資本
其他積累
綜合
損失
累積的
$		總費用
股權
股份數量
6,749.7
108,694,120 $1,087 $1,647,593 $(39,188)$(403,969)$1,205,523 
以股票爲基礎的報酬計劃— — 16,783 — — 16,783 
股權激勵計劃下的淨髮行量954,649 9 (4,140)— — (4,131)
可供出售證券未實現損失淨額（稅後）
— — — (14,964)— (14,964)
淨收入— — — — 5,008 5,008 
2023年9月30日餘額
109,648,769 $1,096 $1,660,236 $(54,152)$(398,961)$1,208,219 
 普通股額外的
實收資本
資本
其他積累
綜合
損失
累積的
$		總費用
股權
 股份數量
2022年12月31日的餘額爲
106,546,995 $1,065 $1,628,590 $(37,616)$(427,745)$1,164,294 
以股票爲基礎的報酬計劃— — 48,874 — — 48,874 
股權激勵計劃下的淨髮行量3,101,774 31 (17,228)— — (17,197)
可供出售證券的淨未實現損失，扣除稅款
— — — (16,536)— (16,536)
淨收入— — — — 28,784 28,784 
2023年9月30日餘額
109,648,769 $1,096 $1,660,236 $(54,152)$(398,961)$1,208,219 

參閱簡明合併基本報表附註。
9

LENDINGCLUb CORPORATION
簡化合並現金流量表
(以千爲單位)
（未經審計）
截至九個月
9月30日,
 20242023
經營活動產生的現金流:
淨利潤$41,610 $28,784 
對凈利潤與經營活動使用的現金之間進行調整:
公允價值調整129,679 80,222 
貸款服務資產公允價值變動60,068 41,750 
貸款銷售收益(34,090)(35,918)
信用損失準備115,029 201,658 
貸款遞延費用和成本的增值(52,980)(74,486)
基於股票的補償，淨額30,527 42,122 
折舊和攤銷39,086 35,242 
其他，淨額6,368 (8,474)
待售貸款的淨變化(2,806,609)(590,400)
經營性資產和負債的淨變化：
其他資產19,747 23,622 
其他負債2,764 (65,917)
經營活動中使用的淨現金
(2,448,801)(321,795)
投資活動產生的現金流：
貸款和租賃的淨變動 (1)
(427,412)141,221 
購買可出售證券(31,749)(59,336)
出售、到期和償還可出售證券的收益
607,651 42,856 
購買物業、設備和軟件，淨額(37,082)(48,239)
其他投資活動(1,685)(8,606)
投資活動提供的淨現金
109,723 67,896 
融資活動的現金流：
存款的淨變動2,124,304 599,054 
借款的本金還款 (1)
(16,284)(102,187)
50,000(12,813)(17,195)
融資活動提供的淨現金2,095,207 479,672 
現金、現金等價物及受限制現金的淨（減少）增加
$(243,871)$225,773 
現金、現金等價物及受限制現金，期初餘額$1,294,148 $1,124,484 
現金、現金等價物及受限制現金，期末$1,050,277 $1,350,257 
補充現金流信息：
支付的利息$278,159 $180,167 
支付的稅款$111 $7,757 
支付的經營租賃費用已包含在租賃負債的計量中$9,580 $9,581 
補充非現金投資活動：
從結構化計劃交易中保留的淨證券$2,228,307 $454,831 
(1)    前期金額已被重新分類，以符合本期的呈現。

10

LENDINGCLUb CORPORATION
濃縮合並現金流量表（續）
(以千爲單位)
（未經審計）
The following presents cash, cash equivalents and restricted cash by category within the Balance Sheet:
 September 30,
2024		December 31,
2023
Cash and cash equivalents$1,016,930 $1,252,504 
Restricted cash33,347 41,644 
Total cash, cash equivalents and restricted cash
$1,050,277 $1,294,148 

See Notes to Condensed Consolidated Financial Statements.

11

LENDINGCLUb CORPORATION
附註至簡明綜合財務報表
(以千爲單位的表格金額，除分享和每股金額、比率或特別註明的情況外)
（未經審計）


1. 重要會計政策的總結

財務報表基礎

LendingClub公司（LendingClub）成立於2006年，通過利用科技、數據科學和獨特的市場模型，將傳統信用產品——分期貸款——帶入數字時代。2021年2月，LendingClub完成了對Radius的收購，成爲一家銀行控股公司，併成立了LC Bank作爲其全資子公司。該公司通過LC Bank開展其絕大多數的業務，作爲貸款人和貸款發起人，作爲美國的一家受監管銀行。

所有板塊間餘額和交易在合併中已被消除。 這些合併的基本報表是按照美國通用會計原則（GAAP）編制的，適用於中期財務信息，並且在管理層的意見中，包含了所有必要的調整，包括正常的經常性調整，以公正地陳述所呈現期間的結果和財務狀況。 這些會計原則要求管理層做出某些估計和假設，這會影響附帶的基本報表中的金額。這些估計和假設本質上是主觀的，實際結果可能與這些估計和假設有所不同，且差異可能是重要的。 報告的中期結果不一定能反映全年或任何其他中期的結果。

公司在2024年前九個月的簡明合併基本報表及附帶註釋中進行了以下呈現更改：
•合併的綜合資產負債表（資產負債表） – 「按公允價值持有的零售和證書貸款」與「按公允價值持有的貸款」合併，而「按公允價值的零售票據和證書」則與「借款」合併；
•合併的綜合收益表（利潤表）– "按公允價值計入投資的零售貸款和憑證的利息"與"按公允價值計入投資的貸款的利息"合併在一起，"按公允價值計入的零售票據和憑證的利息"合併在"其他利息費用"中；並且
•合併現金流量表 - 「零售和證書貸款的淨減少」與「貸款和租賃的淨變化」合併在一起，「零售票據和證書的本金償還」合併在「借款的本金償還」中。

在所有情況下，相應的前期金額已被重新分類，以符合當前期間的展示。

附帶的中期簡明合併基本報表及相關附註應與公司於2023年12月31日結束的年度報告（在2024年2月16日提交的10-K報告中包含的合併基本報表及相關附註）一起閱讀。

重要的會計政策

公司的重大會計政策在“第二部分 - 第8項 基本報表和補充數據 - 註釋1 重大會計政策摘要”中進行了討論。在截至2024年9月30日的九個月內，這些重大會計政策沒有變化。

12

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

新會計準則的採用

公司在截至2024年9月30日的九個月期間沒有采用新的會計標準。

尚未採用的新會計準則

在2023年11月，FASB發佈了ASU 2023-07， 分部報告（主題280）– 可報告分部披露的改進，該標準改善了可報告分部的披露要求，主要通過增強對重要分部費用的披露。新標準適用於在2023年12月15日之後開始的年度期間，以及在2024年12月15日之後開始的中期期間。本標準的修訂應當追溯適用，允許提前採用。公司正在評估此ASU的影響，但預計不會產生重大影響。

在2023年12月，財務會計準則委員會發佈了ASU 2023-09， 所得稅（主題740）— 改進所得稅披露該標準改善了所得稅的披露要求，主要通過增強與稅率調節和已支付所得稅相關的披露。新的標準在2024年12月15日之後開始適用於年度報告。該標準的修訂應採用前瞻性應用，允許追溯應用。也允許提前採用。公司正在評估該ASU的影響，但預計不會對財務產生重大影響。

2. 市場營業收入

市場營業收入包括（i）起源費用，（ii）服務費用，（iii）貸款銷售收益和（iv）淨公允價值調整，具體如下。

創始費用： 創始費用主要是與發放和發行無擔保個人貸款相關的費用，這些貸款將被持有以供出售（HFS）。

服務費用： 公司收取服務費用，以補償其代表投資者爲貸款提供服務的費用，包括管理借款人的付款和收款，以及向這些投資者付款。服務費用的營業收入主要受投資者支付的服務費率以及爲投資者服務的貸款未償本金餘額的影響。與已售貸款相關的服務費收入還包括與服務資產公允價值變化相關的金額。

貸款銷售收益： 與貸款銷售相關，公司根據合同服務費高於或低於估計市場服務費的程度確認貸款銷售的收益或損失。此外，公司還確認交易費用（如有），作爲貸款銷售的損失。

淨公允價值調整： 公司對以公允價值計量的貸款記錄公允價值調整，這包括超過或低於出售貸款本金金額的售價所產生的收益或損失以及已實現的淨沖銷。此外，由於貸款保留在資產負債表上，對貸款的增量公允價值損失調整記錄在「市場收入」中的「淨公允價值調整」項下，而根據貸款的合同利率計算的相關利息收入則記錄在「淨利息收入」中。

13

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

下表列出了所示時期的市場營業收入構成：
截止三個月
9月30日，		截至九個月
9月30日，
2024202320242023
起源費用$71,465 $60,912 $218,675 $202,444 
服務費用8,081 32,768 47,542 81,163 
貸款銷售收入12,433 8,572 34,090 35,918 
淨公允價值調整(33,595)(41,366)(129,679)(80,222)
總市場營業收入$58,384 $60,886 $170,628 $239,303 

3. 每股收益

下表詳細列出了公司的基本和攤薄後每股收益的計算：
截止三個月
9月30日，		截至九個月
9月30日，
2024202320242023
基本每股收益：
歸屬於股東的凈利潤$14,457 $5,008 $41,610 $28,784 
加權平均普通股 – 基本112,042,202 109,071,180 111,376,778 107,966,544 
基本每股收益$0.13 $0.05 $0.37 $0.27 
攤薄後每股收益：
歸屬於股東的凈利潤$14,457 $5,008 $41,610 $28,784 
加權平均普通股 - 攤薄113,922,256 109,073,194 112,027,815 107,969,920 
攤薄後每股收益$0.13 $0.05 $0.37 $0.27 

14

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

4. 可供出售證券

可供出售（AFS）證券的攤銷成本、未實現的總收益和損失，以及公允價值如下所示：
2024年9月30日攤銷
成本		毛利
未實現
收益		毛利
未實現
虧損
補貼
信用損失
公平
價值
與結構化項目交易相關的高級資產支持證券 (1)
$2,717,915 $42,520 $— $— $2,760,435 
美國機構住宅抵押貸款支持證券257,602 333 (32,334)— 225,601 
與結構化項目交易相關的其他資產支持證券 (2)
164,831 42 (306)(2,263)162,304 
美國機構證券90,457 — (10,881)— 79,576 
抵押貸款支持證券63,300 310 (4,891)— 58,719 
其他資產支持證券22,641 36 (496)— 22,181 
市政證券3,242 — (640)— 2,602 
可供出售的總證券 (3)
$3,319,988 $43,241 $(49,548)$(2,263)$3,311,418 
2023年12月31日攤銷
成本		毛利
未實現
收益		毛利
未實現
虧損		公平
價值
與結構化計劃交易相關的高級資產支持證券
$1,165,513 $10,932 $(42)$1,176,403 
美國機構住宅抵押貸款支持證券261,885 208 (37,497)224,596 
美國機構證券93,452 — (13,348)80,104 
與結構化計劃交易相關的其他資產支持證券 (2)
70,662 2,731 — 73,393 
抵押貸款支持證券42,511 — (5,435)37,076 
其他資產支持證券26,710 25 (634)26,101 
市政證券3,257 — (668)2,589 
可供出售的證券總額 (3)
$1,663,990 $13,896 $(57,624)$1,620,262 
(1)排除了一個$95針對在2024年9月30日指定爲活躍公允價值對沖關係的證券的千級組合基礎調整。見“註釋 8. 衍生工具和對沖活動”以獲取更多信息。
(2)截至2024年9月30日和2023年12月31日，$162.3 百萬和$70.1 與結構性項目交易相關的其他資產支持證券的公允價值分別爲百萬美元，受限於公司作爲「贊助商」根據美國風險保留規則的義務的轉讓限制。
(3)截至2024年9月30日和2023年12月31日，包括$378.8百萬和$359.5百萬，分別是以公允價值作爲抵押的證券。

15

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

以下是按持續未實現損失的期間彙總的AFS證券未實現損失的總結：
少於
12個月		12個月
或更長		總計
2024年9月30日公平
價值		未實現
虧損		公平
價值		未實現
虧損		公平
價值		未實現
虧損
美國機構住宅抵押貸款支持證券$6,520 $(9)$199,638 $(32,325)$206,158 $(32,334)
與結構化計劃交易相關的其他資產支持證券41,075 (306)— — 41,075 (306)
美國機構證券— — 79,576 (10,881)79,576 (10,881)
抵押貸款支持證券— — 33,663 (4,891)33,663 (4,891)
其他資產支持證券— — 13,123 (496)13,123 (496)
市政證券— — 2,602 (640)2,602 (640)
總證券未實現損失$47,595 $(315)$328,602 $(49,233)$376,197 $(49,548)
少於
12個月		12個月
或更長		總計
2023年12月31日公平
價值		未實現
虧損		公平
價值		未實現
虧損		公平
價值		未實現
虧損
與結構化計劃交易相關的高級資產支持證券
$38,359 $(42)$— $— $38,359 $(42)
美國機構住宅抵押貸款支持證券6,497 (149)201,426 (37,348)207,923 (37,497)
美國機構證券— — 80,104 (13,348)80,104 (13,348)
抵押貸款支持證券13,973 (740)23,103 (4,695)37,076 (5,435)
其他資產支持證券12,911 (50)8,538 (584)21,449 (634)
市政證券— — 2,589 (668)2,589 (668)
總證券未實現損失$71,740 $(981)$315,760 $(56,643)$387,500 $(57,624)

截至2024年9月30日，公司AFS投資組合的主要部分由與結構化程序交易相關的高級資產支持證券和美國機構支持的證券組成。管理層認爲，美國機構支持證券因某些美國政府機構對本金和利息的擔保而具有最高的信用質量和評級。截至2024年9月30日，公司AFS投資組合中大多數處於未實現虧損狀態的證券被評爲投資級。AFS投資組合中幾乎所有未實現虧損均是由利率上升造成的。公司不打算出售該投資組合，也不太可能在其攤銷成本回收之前被要求出售任何投資。有關管理層對處於未實現虧損狀態的AFS證券的季度評估的描述，請參見“第二部分 – 第8項 基本報表與補充數據 – 註釋1 重要會計政策摘要”在我們的年度報告中。

下表展示了AFS證券的信用損失準備金的活動，按證券類型分類：
與結構化項目交易相關的其他資產支持證券

截至2024年9月30日的三個月截至2024年9月的九個月
期初信貸損失準備金
$2,083 $— 
可供出售證券的信貸損失費用
180 2,263 
期末信貸損失準備金
$2,263 $2,263 

16

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

2023年第三季度和前九個月，AFS證券的信貸損失準備金沒有任何活動。

可供出售證券的合同到期日如下：
2024年9月30日攤銷成本公允價值
加權-
平均
收益率 (1)
到期時間在一年內：
美國機構證券$3,000 $2,983 
一年內到期總額3,000 2,983 3.50 %
一年後至五年內到期：
與結構性計劃交易相關的高級資產支持證券2,717,915 2,760,435 
與結構性計劃交易相關的其他資產支持證券164,831 162,304 
美國機構證券7,850 7,701 
抵押貸款支持證券2,701 2,471 
其他資產支持證券335 334 
市政證券
154 143 
1年到5年後的總到期金額2,893,786 2,933,388 7.62 %
5年到10年後的到期金額：
美國機構證券21,998 20,144 
其他資產支持證券13,115 13,112 
美國機構住宅抵押貸款證券4,013 3,869 
抵押貸款支持證券923 799 
市政證券464 410 
5年到10年後的總到期金額40,513 38,334 4.28 %
到期時間爲10年後：
美國機構的住宅抵押貸款支持證券253,589 221,732 
美國機構證券57,609 48,748 
抵押貸款支持證券59,676 55,449 
其他資產支持證券9,191 8,735 
市政證券2,624 2,049 
10年後到期總計382,689 336,713 2.87 %
可供出售的總證券$3,319,988 $3,311,418 6.86 %
(1)加權平均收益是通過計算截至2024年9月30日的九個月期間的平均月末攤銷成本來得出的。

在2024年第三季度和前九個月，公司確認了收益爲$30.1百萬，來自與結構化項目交易相關的高級資產支持證券銷售的總實現收益爲$114千。在2023年第三季度和前九個月中，沒有AFS證券的銷售。

17

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

5. 按攤餘成本計量的投資貸款和租賃，扣除貸款和租賃損失準備金

LendingClub將某些持有投資的貸款和租賃按攤餘成本確認。其他HFI和所有HFS貸款根據公司的公允價值選擇記錄爲公允價值。A應計利息應收款不包括在貸款和租賃HFI的攤餘成本基礎上，並在“其他資產”中報告， 資產負債表。截至2024年9月30日，按攤餘成本計算的與貸款和租賃HFI相關的淨應計利息應收款爲$28.2百萬和$32.2百萬。 2023年12月31日，分別.

以攤餘成本計量的投資貸款和租賃

公司將其貸款和租賃HFI組合劃分爲（i）消費和（ii）商業。下表展示了每個組合按融資應收款類別的元件：
2024年9月30日2023年12月31日
無擔保個人貸款$3,068,078 $3,726,830 
住宅抵押貸款175,345 183,050 
有擔保消費貸款239,206 250,039 
持有投資的消費貸款總額3,482,629 4,159,919 
設備融資 (1)
74,674 110,992 
商業房地產371,796 380,322 
商業和工業179,230 199,069 
總持有投資的商業貸款和租賃625,700 690,383 
總持有投資的貸款和租賃4,108,329 4,850,302 
貸款和租賃損失準備金(220,564)(310,387)
持有投資的貸款和租賃，淨值 (2)
$3,887,765 $4,539,915 
(1)    由設備的銷售類型租賃組成。請參見“注17. 租賃”以獲取更多信息。
(2)    截至2024年9月30日，公司在循環信貸工具、定期貸款和高級票據下分別有$3.9以十億美元作爲抵押的貸款，包含$3.5在聯邦儲備銀行(FRB)折扣窗口下承諾的十億美元以及 $463.4百萬 承諾給聯邦住房貸款銀行(德梅因的FHLB。截至2023年12月31日，公司有$4.0以十億美元作爲抵押的貸款，包含$3.5在FRB折扣窗口下承諾的十億美元以及 $479.0百萬 承諾給 得梅因的FHLb。

下表顯示了貸款和租賃損失準備金（ALLL）的元件：
2024年9月30日2023年12月31日
貸款和租賃損失的總撥備 (1)
$274,538 $355,773 
回收資產價值 (2)
(53,974)(45,386)
貸款和租賃損失準備金$220,564 $310,387 
(1)    代表對現有投資組合餘額未來估計的淨沖銷的準備金。
(2)    代表對先前沖銷金額預期回收的負撥備。

2024年9月30日消費商業總計
用於投資的貸款和租賃$3,482,629 $625,700 $4,108,329 
貸款和租賃損失準備金$200,899 $19,665 $220,564 
撥備比例 (1)
5.8 %3.1 %5.4 %
貸款和租賃損失的總撥備$254,873 $19,665 $274,538 
毛撥備率 (1)
7.3 %3.1 %6.7 %
18

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

2023年12月31日消費商業總計
用於投資的貸款和租賃
$4,159,919 $690,383 $4,850,302 
貸款和租賃損失準備金
$298,061 $12,326 $310,387 
允許比例 (1)
7.2 %1.8 %6.4 %
貸款和租賃損失的總撥備
$343,447 $12,326 $355,773 
總允許比率 (1)
8.3 %1.8 %7.3 %
(1)按適用情況計算爲ALLL或總ALLL，針對以攤銷成本持有的投資貸款和租賃的相應投資組合部分餘額。

19

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

按投資組合細分的信用損失準備金活動如下：
截至9月30日三個月
20242023
消費商業總計消費商業總計
貸款和租賃損失準備金，期初餘額$210,729 $18,180 $228,909 $341,161 $14,002 $355,163 
用於投資的貸款和租賃的信貸損失費用
45,813 1,647 47,460 63,733 394 64,127 
減值 (1)
(68,388)(721)(69,109)(73,644)(534)(74,178)
回收12,745 559 13,304 5,038 345 5,383 
貸款和租賃損失準備金，期末$200,899 $19,665 $220,564 $336,288 $14,207 $350,495 
未提供貸款承諾準備金，期初$— $1,455 $1,455 $— $2,017 $2,017 
未提供貸款承諾的信貸損失費用（收益）
— (99)(99)— 352 352 
未提供貸款承諾準備金，期末 (2)
$— $1,356 $1,356 $— $2,369 $2,369 
截至9月30日的九個月
20242023
消費商業總計消費商業總計
貸款和租賃損失準備金，期初餘額$298,061 $12,326 $310,387 $312,489 $15,363 $327,852 
投資性貸款和租賃的信用損失費用（收益）
104,259 9,024 113,283 201,291 (124)201,167 
減值 (1)
(234,992)(2,547)(237,539)(189,201)(1,809)(191,010)
回收33,571 862 34,433 11,709 777 12,486 
貸款和租賃損失準備金，期末$200,899 $19,665 $220,564 $336,288 $14,207 $350,495 
未資金貸款承諾準備金，期初$— $1,873 $1,873 $18 $1,860 $1,878 
未資金貸款承諾的信用損失費用（收益）
— (517)(517)(18)509 491 
未資金貸款承諾準備金，期末 (2)
$— $1,356 $1,356 $— $2,369 $2,369 
(1)無擔保個人貸款在借款人出現以下情況時被註銷：(i) 合同逾期120天或(ii) 逾期兩期並已申請破產或已去世。
(2)與$105.3百萬和$89.5截至2024年9月30日和2023年9月30日，未資助承諾爲$百萬。11.4截至2024年9月30日，$105.3$百萬未資助承諾中，有$百萬是無條件可取消的，因此沒有相關的儲備。

20

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

下表列出了2024年前九個月按起始年份計算的核銷情況:
按發放年份的貸款損失總額
20242023202220212020以前總計
無擔保個人貸款$2,033 $72,410 $119,341 $39,714 $— $— $233,498 
住宅抵押貸款— — — — — — — 
有擔保消費貸款— 341 765 388 — — 1,494 
持有投資的總消費貸款2,033 72,751 120,106 40,102 — — 234,992 
設備融資— — — — — — — 
商業房地產— — — — — — — 
商業和工業— 421 507 403 — 1,216 2,547 
投資持有的商業貸款和租賃總額— 421 507 403 — 1,216 2,547 
投資持有的貸款和租賃總額$2,033 $73,172 $120,613 $40,505 $— $1,216 $237,539 

消費貸款信用質量因數

公司根據貸款的逾期狀況和還款活動評估其消費貸款組合的信用質量。貸款逾期報告基於借款人相對於貸款合同條款的還款活動。 下表展示了消費組合部分按逾期狀況和貸款發放年份的信用質量指標分類的融資應收款項。
2024年9月30日按發放年份劃分的定期貸款和租賃
20242023202220212020以前總計
無擔保個人貸款
流動 $898,427 $950,003 $957,619 $187,075 $— $— $2,993,124 
逾期30-59天 2,564 9,135 10,989 3,061 — — 25,749 
逾期60-89天 1,681 7,234 8,617 2,624 — — 20,156 
逾期90天或更長時間 1,119 8,520 10,002 2,711 — — 22,352 
總無抵押個人貸款 (1)
903,791 974,892 987,227 195,471 — — 3,061,381 
住宅抵押貸款
流動 — — 46,466 53,068 29,117 46,382 175,033 
逾期30-59天 — — — — — — — 
逾期60-89天 — — — — — 145 145 
逾期90天或更長時間 — — — — — 167 167 
總住宅抵押貸款 — — 46,466 53,068 29,117 46,694 175,345 
擔保消費
當前65,997 89,220 65,564 12,830 — 2,395 236,006 
逾期30-59天61 679 1,177 366 — — 2,283 
逾期60-89天25 174 409 67 — — 675 
逾期90天或以上22 13 135 72 — — 242 
總擔保消費66,105 90,086 67,285 13,335 — 2,395 239,206 
持有投資的總消費貸款$969,896 $1,064,978 $1,100,978 $261,874 $29,117 $49,089 $3,475,932 
(1)排除了按組合層方法指定爲公允價值對沖的貸款的累計基礎調整。截至2024年9月30日，基礎調整總額爲$6.7百萬，代表了對對沖貸款的攤餘成本的增加。參見“註釋 8. 衍生工具和對沖活動”以獲取更多信息。

21

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

2023年12月31日按origination年份劃分的定期貸款和租賃
2023
2022202120202019以前總計
無擔保個人貸款
流動 $1,498,737 $1,688,512 $438,296 $— $— $— $3,625,545 
逾期30-59天 9,034 17,017 6,665 — — — 32,716 
逾期60-89天 7,767 15,538 6,251 — — — 29,556 
逾期90天或更長時間 6,924 16,564 6,644 — — — 30,132 
總無擔保個人貸款 (1)
1,522,462 1,737,631 457,856 — — — 3,717,949 
住宅抵押貸款
流動 53 48,473 54,855 29,960 18,917 29,041 181,299 
逾期30-59天 — — — — 1,331 420 1,751 
逾期60-89天 — — — — — — — 
逾期90天或更長時間 — — — — — — — 
總住宅抵押貸款 53 48,473 54,855 29,960 20,248 29,461 183,050 
擔保消費
當前125,618 97,084 21,949 — 2,460 — 247,111 
逾期30-59天364 1,295 417 — — — 2,076 
逾期60-89天94 373 168 — — — 635 
逾期90天或以上— 153 64 — — — 217 
總擔保消費126,076 98,905 22,598 — 2,460 — 250,039 
總消費貸款持有投資$1,648,591 $1,885,009 $535,309 $29,960 $22,708 $29,461 $4,151,038 
(1)    不包括按投資組合層次法在公允價值對沖下指定的貸款的累積基礎調整。截至2023年12月31日，基礎調整總額爲$8.9百萬，並代表對被對沖貸款的攤餘成本的增加。見“註釋 8. 衍生工具和對沖活動”以獲取更多信息。

商業貸款信用質量因數

公司根據監管風險評級評估其商業貸款組合的信用質量。公司根據有關抵押品的質量和可實現價值（如有）以及債務人償還債務的能力（例如當前的財務信息、歷史還款經驗、信用文件、公共信息和當前經濟趨勢等因素），將貸款和租賃分類爲風險評級。公司通過根據相關的信用風險對貸款和租賃進行分類，單獨分析貸款和租賃，並在每次信貸延續、續期或修改時進行此分析，或在發生可觀察事件表明信用質量可能下降時進行分析，並且對大額貸款至少每年進行一次。風險評級分類包括以下內容：

通過 – 公司認爲將按照合同貸款條款全額償還的貸款和租賃。

特別關注 – 貸款和租賃中存在潛在弱點，需要管理層的密切關注。如果不加以糾正，這些潛在的弱點可能會導致貸款的還款前景或公司的信用狀況在未來某個時候惡化。

次級貸款 – 貸款和租賃因債務人或抵押品的當前實際價值和支付能力不足而保護不充分。被分類爲此的貸款和租賃存在明確的弱點，可能危及債務的償還和清算。如果缺陷未得到糾正，公司的損失可能性明顯。借款人的正常支付處於危險之中，雖然本金損失仍然可能，但並非迫在眉睫。

22

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

疑似 – 貸款和租賃存在與分類爲次級的所有固有弱點，且添加了這一特徵：根據目前已知的事實、條件和價值，這些弱點使得全額收回或清算變得高度可疑和不太可能。

Loss - 被認爲無法收回且價值不大的貸款和租賃。

以下表格展示了商業投資組合細分中按風險評級和起始年份分類的融資應收款項。
2024年9月30日按發放年份劃分的定期貸款和租賃
20242023202220212020以前總計
擔保金額 (1)
設備融資
通過 $— $1,882 $35,734 $9,384 $10,220 $10,004 $67,224 $— 
特別提及— — 374 693 — — 1,067 — 
次級 — — 1,060 5,323 — — 6,383 — 
可疑 — — — — — — — — 
Loss— — — — — — — — 
設備融資總額— 1,882 37,168 15,400 10,220 10,004 74,674 — 
商業房地產業
通過 15,826 61,965 90,147 24,024 27,866 112,087 331,915 30,761 
特別提及— — — — 562 6,316 6,878 422 
次級 — — 2,437 8,487 8,856 11,139 30,919 8,945 
可疑 — — — — — — — — 
Loss— — 1,121 496 — 467 2,084 1,768 
總商業房地產15,826 61,965 93,705 33,007 37,284 130,009 371,796 41,896 
商業和工業
通過 22,397 33,634 40,493 31,277 6,215 14,125 148,141 94,664 
特別提及— — 1,842 — — 27 1,869 1,485 
不合格 — 3,302 11,411 2,352 1,472 1,691 20,228 12,620 
可疑 — — 3,279 1,510 505 285 5,579 4,684 
Loss— — 2,651 568 — 194 3,413 3,407 
總商業和工業22,397 36,936 59,676 35,707 8,192 16,322 179,230 116,860 
總商業貸款和租賃持有投資$38,223 $100,783 $190,549 $84,114 $55,696 $156,335 $625,700 $158,756 
(1)    代表由小企業管理局（SBA）擔保的貸款餘額。

23

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

2023年12月31日按發放年份分類的定期貸款和租賃
2023
2022202120202019以前總計
擔保金額 (1)
設備融資
通過 $2,945 $33,430 $26,311 $7,754 $9,411 $6,288 $86,139 $— 
特別提及— 15,235 1,962 5,873 1,335 — 24,405 — 
不合格 — — — 448 — — 448 — 
可疑 — — — — — — — — 
Loss— — — — — — — — 
設備融資總額2,945 48,665 28,273 14,075 10,746 6,288 110,992 — 
商業房地產業
通過 49,067 94,247 34,535 43,058 52,160 78,062 351,129 33,423 
特別提及— — — — — 13,706 13,706 — 
不合格 — 3,598 7,716 — — 2,139 13,453 9,425 
可疑 — — — — — — — — 
Loss— — 1,515 — — 519 2,034 1,471 
總商業房地產49,067 97,845 43,766 43,058 52,160 94,426 380,322 44,319 
商業和工業
通過 40,636 60,352 39,304 9,525 10,282 11,626 171,725 104,928 
特別提及— 10,881 1,532 729 137 444 13,723 9,384 
不合格 — 2,304 5,426 673 1,045 1,434 10,882 6,908 
可疑 — 649 — 548 — 286 1,483 1,214 
Loss— — — — — 1,256 1,256 1,229 
總商業和工業40,636 74,186 46,262 11,475 11,464 15,046 199,069 123,663 
總持有投資的商業貸款和租賃$92,648 $220,696 $118,301 $68,608 $74,370 $115,760 $690,383 $167,982 
(1)    代表由小企業管理局（SBA）擔保的貸款餘額。

以下表格展示了商業組合部分內按攤餘成本計提的逾期貸款和租賃的分析：
2024年9月30日30-59
天		60-89
天		90天或更多
天
過期總天數
擔保金額 (1)
設備融資$— $— $4,850 $4,850 $— 
商業房地產3,882 678 6,106 10,666 8,681 
商業和工業
417 8,207 7,232 15,856 12,347 
總持有投資的商業貸款和租賃$4,299 $8,885 $18,188 $31,372 $21,028 
2023年12月31日30-59
天		60-89
天		90天或更多
天
逾期總天數
擔保金額 (1)
設備融資$1,265 $— $— $1,265 $— 
商業房地產— 3,566 1,618 5,184 4,047 
商業和工業
12,261 1,632 1,515 15,408 11,260 
總持有投資的商業貸款和租賃$13,526 $5,198 $3,133 $21,857 $15,307 
(1)    代表由小企業管理局（SBA）擔保的貸款餘額。

24

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

貸款修改

公司擁有貸款修改計劃，以幫助面臨財務困難的借款人，減輕損失並最大化公司服務貸款的回收。 下表展示了在所示期間內按修改類型修改的貸款的攤銷成本：
截至9月30日三個月截至9月30日的九個月
2024202320242023
開空期支付減少
$7,384 $448 $24,106 $770 
永久貸款修改
2,281 860 4,721 2,020 
債務和解
5,521 9,177 5,713 9,355 
總貸款修改 – 無擔保個人貸款
$15,186 $10,485 $34,540 $12,145 
截至期末的無擔保個人貸款按攤銷成本的百分比
0.5 %0.3 %1.1 %0.3 %

在2023年第三季度，公司擴大了其數字渠道，幫助遭遇財務困難的借款人申請開空支付減少修改計劃。在該計劃下，借款人可能會獲得臨時支付減少。 三個月如果借款人在前三個月內滿足臨時支付減少的要求，他們可能會獲得額外的支付減少。 三個月 期限，他們可能有資格獲得額外的 三個月。獲得額外的 三個月 付款減免被視爲其他非微不足道的付款延遲，併成爲開空付款減免修改。開空付款減免修改導致期限延長 五 至 八個月 與貸款的原到期日相比，並不包括任何本金或利息的豁免。在收到付款減免時，逾期貸款變更爲正常狀態。然而，如果借款人未能遵守修改後的條款，逾期狀態將恢復爲貸款的原合同條款。處於臨時付款減免的前三個月的借款人，截至2024年9月30日，尚有總計16.8百萬的貸款餘額以攤銷成本形式尚未償還，並可能隨後有資格獲得開空付款減免修改。

永久貸款修改包括降低合同利率和延長合同到期日期，最長可達 作爲收入確認，時間跨度爲十二個月 且不包括任何本金豁免。爲了符合這種修改，借款人必須滿足公司的債務收入比要求。在2024年第三季度和前九個月，基於該計劃的加權平均利率降低約爲 7.0% 7.8%，分別。在2023年第三季度和前九個月，基於該計劃的加權平均利率降低約爲 7.2% 9.2%，分別。加權平均到期日期延長約爲 作爲收入確認，時間跨度爲十二個月 針對所有時期。

債務和解修改包括與第三方債務和解公司進行接洽，這會減少借款人所欠的本金和利息。公司通常會在修改後的幾個月內註銷這些貸款，因爲根據修改協議的還款金額低於原合同金額。

25

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

下表展示了截至以下所示期間的貸款修改的攤銷成本的逾期狀態，這些修改是在過去十二個月內進行的：
2024年9月30日
2023年9月30日(1)
開空期付款減免永久貸款修改債務和解開空期付款減免永久貸款修改債務和解
無抵押個人貸款
當前$21,281 $5,049 $133 $672 $1,807 $55 
30-59天2,064 188 9 22 154 11 
60-89天1,619 284 832 28 22 2,798 
90天或更長時間1,243 265 4,824 48 37 6,491 
總貸款修改$26,207 $5,786 $5,798 $770 $2,020 $9,355 
(1)     反映了在前九個月內進行修改的貸款修改的攤餘成本的拖欠狀態，因爲相關的ASU 2022-02於2023年1月1日被前瞻性採用。

如果借款人在逾期120天后違約，那麼修改後的貸款將在違約時計入壞賬。 下表顯示了在計入壞賬前的十二個月內進入的貸款修改的期間總計壞賬金額：
截至9月30日三個月截至9月30日的九個月
2024
2023(1)
2024
2023(1)
開空期支付減少
$2,986 $24 $4,546 $38 
永久貸款修改
551 86 1,479 164 
債務和解
15,631 15,158 57,603 33,621 
總貸款修改 – 無擔保個人貸款
$19,168 $15,268 $63,628 $33,823 
(1)     反映了在減值期間內，對在減值前九個月內進行的貸款修改的總減值金額，因爲相關的ASU 2022-02於2023年1月1日起前瞻性地被採納。

非應計資產

不計息貸款和租賃是指其利息的計提已被暫停的貸款和租賃。當貸款和租賃合同逾期90天或更長時間時，通常會被列爲不計息狀態；如果管理層認爲回收的可能性不足以支持繼續計提，亦可提前列爲不計息狀態，並且不遲於逾期120天時將其沖銷。

某些處於非累積狀態的貸款可能被視爲依賴擔保的貸款，如果借款人面臨財務困難且預計貸款的償還主要通過出售或操作擔保物來實現。公司的依賴擔保貸款的預期信用損失計算爲攤銷成本基礎與基礎擔保物的公允價值之間的差額，減去銷售成本（如適用）。
26

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

下表展示了非應計貸款和租賃：
2024年9月30日2023年12月31日
非應計
未計利息且沒有相關的ACL (1)
非應計
未計利息且沒有相關的ACL (1)
無擔保個人貸款$22,352 $— $30,132 $— 
住宅抵押貸款467 377 312 312 
有擔保消費貸款242 — 217 — 
持有投資的總非 accrual 消費貸款23,061 377 30,661 312 
設備融資4,814 — — — 
商業房地產15,412 1,607 9,663 2,187 
商業和工業21,671 4,645 4,058 1,590 
持有投資的總非 accrual 商業貸款和租賃 (2)
41,897 6,252 13,721 3,777 
持有投資的總非 accrual 貸款和租賃$64,958 $6,629 $44,382 $4,089 
(1)     Subset of total nonaccrual loans and leases.
(2)     Includes $22.8 million and $10.4 million in loan balances guaranteed by the SBA as of September 30, 2024 and December 31, 2023, respectively.

September 30, 2024December 31, 2023
Nonaccrual
Nonaccrual Ratios (1)
Nonaccrual
Nonaccrual Ratios (1)
Total nonaccrual consumer loans held for investment$23,061 0.7 %$30,661 0.7 %
Total nonaccrual commercial loans and leases held for investment41,897 6.7 %13,721 2.0 %
Total nonaccrual loans and leases held for investment$64,958 1.6 %$44,382 0.9 %
(1)     Calculated as the ratio of non-accruing loans and leases to loans and leases HFI at amortized cost.




27

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

6. 證券化和變量利益實體

下表列出了公司資產和負債在與VIEs的交易中的分類，包括結構化計劃交易。公司還以多種形式參與VIEs，包括服務貸款和持有VIEs的高級資產支持證券或次級權益。此外，下面表格中資產和負債的賬面金額不包括在合併中被抵消的公司內部餘額。
2024年9月30日2023年12月31日
綜合 (1)
非合併的 總計合併非合併的總計
資產
受限制現金$— $— $— $3,454 $— $3,454 
按公允價值計量的可供出售證券— 2,922,740 2,922,740 — 1,249,796 1,249,796 
按公允價值計量的投資性貸款 (2)
— — — 970 — 970 
其他資產— 53,154 53,154 14 31,531 31,545 
總資產$— $2,975,894 $2,975,894 $4,438 $1,281,327 $1,285,765 
負債
借款 (2)
— — — 2,888 — 2,888 
其他負債— 6,608 6,608 4 3,301 3,305 
總負債$— $6,608 $6,608 $2,892 $3,301 $6,193 
總淨資產（最大損失風險）$— $2,969,286 $2,969,286 $1,546 $1,278,026 $1,279,572 
(1)    During the third quarter of 2024, the Company deconsolidated its previously consolidated VIEs.
(2)    Prior period amounts have been reclassified to conform to the current period presentation.

Maximum loss exposure represents estimated loss that would be incurred under severe, hypothetical circumstances, for which the Company believes the possibility is extremely remote, such as where the value of interests and any associated collateral declines to zero. Accordingly, this required disclosure is not an indication of expected losses.

28

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

下表總結了與未合併VIE相關的活動，其中轉讓在公司的基本報表中被視爲銷售：
截止三個月
9月30日，		截至九個月
9月30日，
2024202320242023
收到的對價公允價值：
現金$131,358 $40,994 $322,248 $59,045 
從結構化項目交易中保留的淨證券
730,182 301,602 2,228,307 454,831 
其他資產，淨值
9,427 3,790 29,066 6,089 
總對價870,967 346,386 2,579,621 519,965 
貸款出售的公允價值(832,421)(343,142)(2,523,631)(514,701)
與結構性計劃交易相關的高級證券的出售
(30,000)— (30,000)— 
債務的非合併處理
880 — 880 — 
從證券化或出售的貸款中撤回的本金
(737)— (737)— 
貸款和證券出售的收益 (1)
$8,689 $3,244 $26,133 $5,264 
持續參與的現金收益：
服務和其他管理費用$7,675 $1,234 $18,380 $3,110 
從結構化項目交易中保留的證券所獲得的利息
$46,153 $5,142 $113,206 $8,736 
(1)    主要由貸款銷售時確認的服務資產組成，扣除任何交易費用，並排除在售前確認的發起費用和公允價值調整。

自2023年第二季度開始，公司恢復了其結構化計劃交易，推出了新的結構化證券，在交易時以固定利率保留高級證券，除此之外，還需要根據美國風險保留規則要求的金額，並出售剩餘證券。對公司的資產沒有直接追索權，證券持有人只能向發行其證券的VIE資產尋求付款。剩餘證券主要面臨來自基礎無擔保個人貸款的信用和提前還款風險。見“注4：可供出售證券”以獲取與這些證券相關的額外信息。

截至2024年9月30日，未合併可變利益實體持有的未償還本金總餘額爲$3.3十億美元，其中$32.6百萬被歸因於逾期30天或以上的表外貸款。截止2023年12月31日，未合併可變利益實體持有的未償還本金總餘額爲$1.6十億美元，其中$9.5百萬被歸因於逾期30天或以上的表外貸款。對於這些貸款，如果因違反與其貸款出售或服務合同相關的陳述和保證而被要求回購貸款，公司的損失才會發生。

7. 公允價值計量

有關公允價值層級和公司的公允價值方法的描述，請參見“第二部分 – 第8項 基本報表與補充數據 – 註釋1 重要會計政策摘要” 在 年度報告。 公司將某些資產和負債按公允價值記錄，如下表所列。

29

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

持續公平價值計量

下表按公允價值等級列出了公司定期按公允價值計量的資產和 liabilities：
2024年9月30日
一級
二級
第三級
截至
公允價值
資產:
以公允價值出售的貸款$— $— $849,967 $849,967 
以公允價值計入的投資貸款
— — 1,287,495 1,287,495 
可供出售的證券：
與結構化計劃交易相關的高級資產支持證券— — 2,760,435 2,760,435 
美國機構住宅抵押貸款支持證券— 225,601 — 225,601 
與結構化計劃交易相關的其他資產支持證券— — 162,304 162,304 
美國機構證券— 79,576 — 79,576 
抵押貸款支持證券— 58,719 — 58,719 
其他資產支持證券— 22,181 — 22,181 
市政證券— 2,602 — 2,602 
可供出售的總證券— 388,679 2,922,739 3,311,418 
服務資產— — 60,133 60,133 
其他資產— 2,465 — 2,465 
總資產$— $391,144 $5,120,334 $5,511,478 
負債：
借款
— — 2,683 2,683 
其他負債— 8,678 12,276 20,954 
總負債$— $8,678 $14,959 $23,637 

30

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

2023年12月31日
一級
二級
第三級
截至
公允價值
資產:
按公允價值出售的貸款$— $— $407,773 $407,773 
按公允價值持有的投資貸款 (1)
— — 272,678 272,678 
可供出售的證券：
與結構化計劃交易相關的高級資產支持證券— — 1,176,403 1,176,403 
美國機構住宅抵押貸款支持證券— 224,596 — 224,596 
美國機構證券— 80,104 — 80,104 
與結構化計劃交易相關的其他資產支持證券
— — 73,393 73,393 
抵押貸款支持證券
— 37,076 — 37,076 
其他資產支持證券— 26,101 — 26,101 
市政證券— 2,589 — 2,589 
可供出售的總證券— 370,466 1,249,796 1,620,262 
服務資產— — 77,680 77,680 
其他資產— 3,525 — 3,525 
總資產$— $373,991 $2,007,927 $2,381,918 
負債：
借款 (1)
— — 12,956 12,956
其他負債— 12,072 7,655 19,727
總負債$— $12,072 $20,611 $32,683 
(1)前期金額已重新分類，以符合當前期間的呈報格式。

金融工具在估值層次中根據可觀察或不可觀察因素在整體公允價值測量中的重要性進行分類。對於上述表格中列出的不在活躍市場中以可觀察價格交易的金融工具，公司使用重要的不可觀察輸入來測量這些資產和負債的公允價值。這些公允價值估算也可能包括來自外部來源的可觀察、積極報價的元件。因此，屬於第2級或第3級類別的資產和負債的公允價值變動可能包括因可觀察和不可觀察輸入而引起的公允價值變化。公司主要使用折現現金流（DCF）模型來估計第3級工具的公允價值，該模型基於預計未來現金流的現值。該模型使用的輸入本質上是判斷性的，並反映了公司對市場參與者計算公允價值時使用的假設的最佳估計。在2024年或2023年的第三季度和前九個月內，公司沒有將任何資產或負債轉入或轉出第3級。

在公司第3級資產的公允價值測量中使用了以下重要的不可觀察輸入：
•折扣率 – 期望現金流折現至貸款淨現值的加權平均利率。折現率主要根據市場投資者的回報預期來確定。
•年化淨覈銷率 – 年化的平均覈銷率，扣除回收，以貸款池的平均本金餘額作爲相似風險特徵的百分比表示。計算方式
31

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

這一年化利率還包含了基於公司當前宏觀經濟前景的信用損失的定性估計。
•年化提前償還率 – 年化提前償還率以相似風險特徵的貸款池的平均本金餘額的百分比表示。

以上每項輸入的單獨增加將導致公允價值測量的下降。

靈敏度計算是理論上的，不應被視爲對未來表現的預測。假設變化對公允價值的影響通常無法確定，因爲假設變化與公允價值之間的關係可能不是線性的。一個因素的變化可能導致其他因素的變化，從而影響假設結果。

以公允價值計量的待售貸款

重大不可觀察輸入

在貸款公允價值計量中使用了以下重要不可觀察輸入：
2024年9月30日2023年12月31日
最小值最大加權-
平均		最小值最大加權-
平均
折現率7.5 %13.8 %8.3 %8.1 %10.3 %9.0 %
年化淨違約率 (1)
1.7 %19.6 %6.5 %2.7 %12.9 %6.5 %
年化提前還款率 (1)
14.4 %22.5 %19.2 %15.7 %22.5 %19.9 %
(1)    加權平均利率是基於每個貸款組合的原始本金餘額計算的。

公允價值敏感性

按公允價值計量的貸款HFS對關鍵假設不利變動的敏感性如下：
2024年9月30日2023年12月31日
以公允價值出售的貸款
$849,967 $407,773 
預計剩餘加權平均期限（以年爲單位）
1.41.5
折現率：
100個點子的增加$(10,868)$(5,093)
200個點子的增加$(21,005)$(10,051)
年化淨覈銷率：
10%的增加$(10,797)$(5,102)
20%的增加$(21,673)$(10,184)
年化預付款率：
10%的增加$(2,116)$(851)
20%的增加$(4,162)$(1,628)

32

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

公允價值調整

下表展示了按公允價值計量的HFS貸款活動：
截止三個月
9月30日，		截至九個月
9月30日，
2024202320242023
期初公允價值$791,059 $250,361 $407,773 $110,400 
新產生的貸款和購買1,331,058 1,107,771 4,011,238 3,584,918 
銷售(1,162,662)(950,451)(3,264,476)(3,435,949)
本金支付(75,695)(22,372)(173,572)(33,972)
轉讓— 3,299 — 195,106 
已實現的減值損失，淨額扣除回收款，已記錄於收益中
(4,819)(2,757)(13,255)(10,477)
公允價值調整已記錄於收益中(28,974)(23,062)(117,741)(47,237)
期末公允價值$849,967 $362,789 $849,967 $362,789 

下表總結了公司持有的HFS貸款的總公平價值，以及逾期90天或更久的金額：
2024年9月30日2023年12月31日
總計90天或以上
過期天數		總計90天或以上
過期天數
累計未償還本金餘額$884,507 $2,476 $431,955 $1,395 
累計公允價值調整(34,540)(2,001)(24,182)(1,102)
待售貸款的公允價值
$849,967 $475 $407,773 $293 

以公允價值計量的投資貸款

按公允價值計算的HFI貸款主要包括在2024年第三季度收購的貸款組合，未償本金餘額爲$1.3由於收購貸款組合剩餘期限短，公司選擇將HFI貸款組合按公允價值選項進行會計處理。

該公司不承擔由其成員支付依賴的自我導向零售計劃（零售計劃）資助的貸款的本金或利率風險，因爲貸款餘額、利率和到期日是相匹配且通過相同利率和到期日的等額票據進行抵消。因此，下面呈現的表格不包括以公允價值持有的零售和存款證貸款，這些貸款在2024年9月30日和2023年12月31日分別爲$2.7百萬和$10.5 百萬。

重大不可觀察輸入

以下重要的不可觀察輸入在HFI貸款的公允價值計量中使用：
2024年9月30日2023年12月31日
最小值最大加權-
平均		最小值最大加權-
平均
折現率7.1 %22.0 %10.5 %8.4 %16.2 %12.8 %
年化淨覈銷率 (1)
2.8 %19.9 %6.4 %1.9 %5.9 %3.7 %
年化提前償還率 (1)
15.4 %21.3 %19.3 %18.6 %27.7 %22.6 %
(1)    加權平均利率是基於每個貸款組合的原始本金餘額計算的。
33

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)


公允價值敏感性

按公允價值計量的貸款HFI對關鍵假設不利變動的敏感性如下：
2024年9月30日2023年12月31日
以公允價值計入的投資貸款$1,284,812 $262,190 
預期剩餘加權平均壽命（以年爲單位）
0.90.9
折現率：
100個點子的增加$(10,420)$(1,957)
200個點子的增加$(20,688)$(3,888)
年化淨沖銷率：
10% 增加$(7,373)$(1,753)
20% 增加$(15,612)$(3,595)
年化預付款率：
10% 增加$(2,629)$(857)
20% 增加$(5,184)$(1,675)

公允價值調整

下表展示了公允價值下的HFI貸款活動：
截止三個月
9月30日，		截至九個月
9月30日，
2024202320242023
期初公允價值$334,642 $404,119 $262,190 $925,938 
採購1,162,845 112 1,395,629 4,149 
本金支付(206,847)(76,495)(366,777)(419,233)
轉讓— (3,472)— (195,106)
利息收入的累積和公平價值調整記錄在收益中
(5,828)2,035 (6,230)10,551 
期末的公平價值$1,284,812 $326,299 $1,284,812 $326,299 

下表總結了公司持有的按公允價值計量的HFI貸款的總公允價值，以及逾期90天或更久的貸款金額：
2024年9月30日2023年12月31日
總計90天或以上
逾期天數		總計90天或以上
逾期天數
累計未償還本金餘額$1,384,752 $16,953 $281,031 $3,774 
累計公允價值調整(99,940)(13,693)(18,841)(3,037)
持有投資的貸款的公允價值$1,284,812 $3,260 $262,190 $737 

34

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

與結構化程序交易相關的資產支持證券

與結構化項目交易相關的高級資產支持證券

重要的不可觀察輸入

在對與結構化程序交易相關的高級資產支持證券的公允價值計量中，使用了以下重要的不可觀察輸入，包括信用利差：
2024年9月30日2023年12月31日
最小值最大加權-
平均		最小值最大加權-
平均
折現率5.8 %6.0 %5.9 %7.0 %7.0 %7.0 %

公允價值敏感性

與結構化程序交易相關的高級資產支持證券的公允價值對關鍵假設的不利變化的敏感性如下：
2024年9月30日2023年12月31日
持有利益的公允價值$2,760,435 $1,176,403 
預計剩餘加權平均壽命（以年爲單位）
1.31.5
折現率：
增加100個點子$(36,141)$(18,016)
增加200個點子$(72,282)$(36,033)

公允價值調整

下表展示了與結構化項目交易活動相關的高級資產支持證券：
截止三個月
9月30日，		截至九個月
9月30日，
2024202320242023
期初公允價值$2,312,114 $142,785 $1,176,403 $— 
新增688,692 284,704 2,102,338 429,384 
銷售
(30,114)— (30,114)— 
收到的現金(241,555)(14,244)(519,822)(15,534)
未實現收益（損失）的變動
31,298 (848)31,630 (1,453)
期末公允價值$2,760,435 $412,397 $2,760,435 $412,397 

35

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

其他與結構化融資交易相關的資產支持證券

重要的不可觀察輸入

在與結構化程序交易相關的其他資產支持證券的公允價值測量中使用了以下重大不可觀察輸入：
2024年9月30日2023年12月31日
最小值最大加權-
平均		最小值最大加權-
平均
折現率7.5 %11.0 %8.0 %8.1 %10.3 %9.0 %
年化淨覈銷率 (1)
3.3 %6.3 %4.8 %4.9 %5.9 %5.5 %
年化提前償還率 (1)
18.0 %20.4 %19.6 %19.2 %21.0 %20.1 %
(1)    加權平均利率是根據每個證券的原始本金餘額計算的。

公允價值敏感性

與結構化項目交易相關的其他資產支持證券公允價值對關鍵假設的不利變動的敏感性如下：
2024年9月30日2023年12月31日
持有權益的公允價值$162,304 $73,393 
預計剩餘加權平均壽命（以年爲單位）
1.41.5
折扣率：
100個點子的增加$(1,985)$(927)
200個點子的增加$(3,870)$(1,836)
年化淨減值率：
10%的增加$(1,661)$(882)
20%的增加$(3,331)$(1,771)
年化提前還款率：
10%的增加$(359)$(203)
20%的增加$(708)$(430)

公允價值調整

下表展示了與結構化計劃交易活動相關的其他資產支持證券：
截止三個月
9月30日，		截至9月30日的九個月
2024202320242023
期初公允價值$135,545 $16,980 $73,393 $12,469 
新增42,562 17,190 129,187 25,970 
收到的現金(15,641)(2,812)(37,707)(7,081)
可供出售證券的信貸損失費用
(180)— (2,263)— 
未實現收益（損失）的變動
18 (296)(306)(296)
期末公允價值$162,304 $31,062 $162,304 $31,062 

36

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

S服務資產

重大不可觀察輸入

在向投資者出售貸款的服務資產的公允價值測量中，使用了以下重要的不可觀察輸入：
2024年9月30日2023年12月31日
最小值最大加權-
平均		最小值最大加權-
平均
折現率8.7 %17.3 %10.8 %8.7 %17.3 %11.3 %
年化淨損失率 (1)
1.7 %21.0 %8.2 %1.9 %24.0 %8.7 %
年化提前償還率 (1)
13.9 %24.5 %19.6 %15.6 %25.7 %20.3 %
市場服務費率 (2)
0.62 %0.62 %0.62 %0.62 %0.62 %0.62 %
(1)    加權平均利率是基於每個貸款組合的原始本金餘額計算的。
(2)    願意的市場參與者對於提供與公司服務的貸款組合具有相似特徵的貸款所需的費用。

公允價值敏感性

服務資產公允價值對關鍵假設不利變化的敏感性如下：
2024年9月30日2023年12月31日
服務資產的公允價值$60,133 $77,680 
預計剩餘加權平均壽命（以年爲單位）
1.21.2
折現率：
100個點子的增加$(545)$(675)
200個點子的增加$(1,089)$(1,349)
年度淨呆賬率：
10%的增加$(546)$(878)
20%的增加$(1,093)$(1,756)
年化提前還款率：
10%的增加$(1,269)$(1,550)
20%的增加$(2,538)$(3,100)

The Company’s selection of the most representative market servicing rates for servicing assets is inherently judgmental. The Company reviews third-party servicing rates for its loans, loans in similar credit sectors, and market servicing benchmarking analyses provided by third-party valuation firms, when available. The table below shows the impact on the estimated fair value of servicing assets, calculated using different market servicing rate assumptions:
September 30, 2024December 31, 2023
Weighted-average market servicing rate assumptions
0.62 %0.62 %
Change in fair value from:
Servicing rate increase by 0.10%
$(6,843)$(8,719)
Servicing rate decrease by 0.10%
$6,843 $8,719 
37

LENDINGCLUB CORPORATION
Notes to Condensed Consolidated Financial Statements
(Tabular Amounts in Thousands, Except Share and Per Share Amounts, Ratios, or as Noted)
(Unaudited)


Fair Value Reconciliation

The following table presents servicing assets activity:
截止三個月
9月30日，		截至九個月
9月30日，
2024202320242023
期初公允價值$69,709 $85,387 $77,680 $84,308 
發行 (1)
15,202 11,568 42,539 39,269 
公允價值變動，包含在市場營收中(24,772)(12,100)(60,068)(41,750)
其他淨變動(6)(3,095)(18)(67)
期末公允價值$60,133 $81,760 $60,133 $81,760 
(1)    代表在貸款出售時記錄的服務資產。包含在利潤表中「市場營收」下的「貸款銷售收益」中。

未按照公允價值記錄的金融工具

下表顯示了公司資產及負債的賬面金額和按公允價值層級估計的公允價值，這些資產和負債並不是以公允價值定期記錄的：
2024年9月30日賬面價值
第1級
二級
第三級
截至
公允價值
資產:
持有投資的貸款和租賃，淨值$3,887,765 $— $— $4,036,611 $4,036,611 
其他資產42,035 — 41,655 702 42,357 
總資產$3,929,800 $— $41,655 $4,037,313 $4,078,968 
負債：
存入資金 (1)
$2,865,207 $— $— $2,869,785 $2,869,785 
其他負債53,629 — 32,577 21,052 53,629 
總負債$2,918,836 $— $32,577 $2,890,837 $2,923,414 
2023年12月31日賬面價值
一級
二級
第三級
截至
公允價值
資產:
持有投資的貸款和租賃，淨值$4,539,915 $— $— $4,675,354 $4,675,354 
其他資產37,605 — 36,884 1,017 37,901 
總資產$4,577,520 $— $36,884 $4,676,371 $4,713,255 
負債：
存入資金 (1)
$1,714,889 $— $— $1,714,203 $1,714,203 
借款6,398 — — 6,398 6,398 
其他負債59,015 — 36,823 22,192 59,015 
總負債$1,780,302 $— $36,823 $1,742,793 $1,779,616 
(1)    不包括沒有定義或合同到期日的存入資金負債。

38

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

8. 衍生工具和對沖活動

公司使用衍生工具，包括利率互換和利率上限，來管理與其固定利率資產相關的利率風險。此外，公司還向有限數量的戰略投資者提供信用支持協議，這些協議被視爲信用衍生負債。

未指定爲會計對沖的衍生工具

The table below presents the notional and gross fair value amounts of the Company’s derivatives that are not designated as accounting hedges:
September 30, 2024December 31, 2023
Notional
Derivative Asset (1)
Derivative Liability (1)
Notional
Derivative Liability (1)
Credit derivatives (2)
$12,267 $— $(11,404)$7,307 $(6,372)
Interest rate caps200,000 40 — — — 
Total
$212,267 $40 $(11,404)$7,307 $(6,372)
(1)    Recorded in “Other assets” or “Other liabilities,” as applicable, on the Balance Sheet and in “Operating activities” on the Statement of Cash Flow.
(2)    Represent credit support agreements related to loan sales, whereby the Company is obligated to make payments to a limited number of strategic investors approximately 18 months after sale if credit losses exceed certain initial agreed-upon thresholds, subject to a maximum dollar amount. The notional amount represents the Company’s maximum dollar exposure. The fair value of the credit derivatives is based on the combined impact of both the quantitative and qualitative credit loss forecast.

The table below presents the losses recognized on the Company’s derivatives that are not designated as accounting hedges:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Credit derivatives (1)
$(1,590)$(2,312)$(5,032)$(3,257)
Interest rate caps (2)
(363)— (426)— 
Total losses
$(1,953)$(2,312)$(5,458)$(3,257)
(1)    The initial fair value of the credit derivative liabilities is recorded in “Gain on sales of loans” with changes in the fair value recorded in “Net fair value adjustments,” both within “Marketplace revenue” on the Income Statement.
(2)    Changes in the fair value of the interest rate cap are recorded in “Net fair value adjustments” within “Marketplace revenue” on the Income Statement.

Derivatives Designated as Accounting Hedges

The Company is exposed to changes in the fair value of its fixed-rate assets due to changes in benchmark interest rates. The Company enters into interest rate swaps to manage its exposure to changes in fair value of these assets attributable to changes in the Secured Overnight Financing Rate (SOFR). The interest rate swaps qualify as fair value hedges and involve the payment of fixed-rate amounts to a counterparty in exchange for the receipt of variable-rate payments over the life of the agreements, ranging from approximately one to three years.

39

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)

下表顯示了公司用於對沖的利率掉期的名義和總公允價值金額：
2024年9月30日2023年12月31日
名義
衍生資產 (1)
衍生負債 (1)
名義
衍生負債 (1)
無抵押個人貸款
$1,075,000 $63 $(6,429)$1,500,000 $(8,547)
可供出售的證券
225,000 114 — — — 
總利率掉期
$1,300,000 $177 $(6,429)$1,500,000 $(8,547)
(1)    在資產負債表的「其他資產」或「其他負債」中記錄，並在現金流量表的「經營活動」中記錄。

下表總結了公司公允價值對沖所確認的收益（損失）：
截止三個月
9月30日，		截至九個月
9月30日，
2024202320242023
無抵押個人貸款：
對沖項目
$8,273 $(3,020)$(2,184)$(3,020)
用於對沖的衍生品(7,734)3,483 2,181 3,483 
衍生品的利息結算 (1)
1,490 883 4,259 883 
對沖的無擔保個人貸款的總收益 (2)
2,029 1,346 4,256 1,346 
可供出售的證券：
對沖項目
95 — 95 — 
用於對沖的衍生品
114 — 114 — 
衍生品的利息結算 (1)
54 — 54 — 
可供出售的對沖證券總收益 (3)
263 — 263 — 
公允價值對沖的總收益
$2,292 $1,346 $4,519 $1,346 
(1)    包括應收利息和應付利息。
(2)    在損益表中記錄爲「投資性貸款和租賃產生的利息和費用」。
(3)    在損益表中記錄爲「可供出售證券的利息」。

下表列出了公允價值對沖的累計基礎調整：
2024年9月30日2023年12月31日
資產負債表項目
已關閉投資組合的賬面價值 (1)
包含在對沖項目賬面價值中的累計公允價值調整
已關閉投資組合的賬面價值 (1)
包含在對沖項目賬面價值中的累計公允價值調整
可供出售證券
$2,544,974 $95 $— $— 
用於投資的貸款和租賃
$1,744,465 $6,697 $3,109,854 $8,881 
(1)    代表在組合方法對沖關係中，按照攤餘成本計算的總閉合資產組合，其中對沖項目是預計在對沖關係結束時仍然存在的特定層。到2024年9月30日，指定爲對沖項目的可供出售證券和無擔保個人貸款的攤餘成本爲$225百萬和$1.075十億，分別爲。到2023年12月31日，指定爲組合層對沖關係中對沖項目的無擔保個人貸款的攤餘成本爲$1.5十億。
40

LendingClub CORPORATION
附註至簡明合併財務報表
(表格金額以千爲單位，除分享和每股金額、比率或另有說明外)
(未經審計)


9. 資產、設備和軟體淨值

淨資產、設備和軟體由以下內容組成：
2024年9月30日2023年12月31日
軟體 (1)
$244,619 $209,260 
租賃改善30,699 30,764 
計算機設備21,777 21,654 
傢具和固定裝置5,554 5,845 
總資產、設備和軟體302,649 267,523 
累計折舊和攤銷(134,840)(106,006)
總資產、設備和軟體淨額$167,809 $161,517 
(1)    Includes $38.7 million and $66.9 million of development in progress for internally-developed software and $2.5 million and $4.6 million of development in progress to customize purchased software as of September 30, 2024 and December 31, 2023, respectively.

Depreciation and amortization expense on property, equipment and software was $12.5 million and $36.4 million for the third quarter and first nine months of 2024, respectively. Depreciation and amortization expense on property, equipment and software was $10.3 million and $32.1 million for the third quarter and first nine months of 2023, respectively.

10. Goodwill and Intangible Assets

Goodwill

The Company’s goodwill balance was $75.7 million as of both September 30, 2024 and December 31, 2023. The Company did not record any goodwill impairment expense for the third quarters and first nine months of 2024 and 2023. Goodwill is not amortized, but is subject to annual impairment tests that are performed in the fourth quarter of each calendar year. For additional detail, see “Part II – Item 8. Financial Statements and Supplementary Data – Note 1. Summary of Significant Accounting Policies” in the Annual Report.

Intangible Assets

Intangible assets consist of customer relationships. Intangible assets, net of accumulated amortization, are included in “Other assets” on the Balance Sheet. The gross and net carrying values and accumulated amortization were as follows:
September 30, 2024December 31, 2023
Gross carrying value$54,500 $54,500 
Accumulated amortization(45,061)(42,365)
Net carrying value$9,439 $12,135 

The customer relationship intangible assets are amortized on an accelerated basis from ten to fourteen years. Amortization expense associated with intangible assets for the third quarter and first nine months of 2024 was $0.9 million and $2.7 million, respectively. Amortization expense associated with intangible assets for the third quarter and first nine months of 2023 was $1.0 million and $3.2 million, respectively. There was no impairment loss for the third quarters and first nine months of 2024 and 2023.
41

LENDINGCLUB CORPORATION
Notes to Condensed Consolidated Financial Statements
(Tabular Amounts in Thousands, Except Share and Per Share Amounts, Ratios, or as Noted)
(Unaudited)


The expected future amortization expense for intangible assets as of September 30, 2024, is as follows:
2024$853 
20252,901 
20262,252 
20271,603 
2028945 
Thereafter885 
Total$9,439 

11. Other Assets

Other assets consist of the following:
September 30, 2024December 31, 2023
Deferred tax assets, net (1)
$128,648 $151,411 
Servicing assets (2)
60,514 78,401 
Accrued interest receivable
43,662 35,793 
Nonmarketable equity investments43,147 42,891 
Operating lease assets21,198 26,611 
Intangible assets, net (3)
9,439 12,135 
Other100,451 108,211 
Total other assets$407,059 $455,453 
(1)    See “Note 16. Income Taxes” for additional detail.
(2)    Loans underlying servicing assets had a total outstanding principal balance of $7.1 billion and $9.5 billion as of September 30, 2024 and December 31, 2023, respectively.
(3)    See “Note 10. Goodwill and Intangible Assets” for additional detail.

12. Deposits

Deposits consist of the following:
September 30, 2024December 31, 2023
Interest-bearing deposits:
Savings and money market accounts$5,257,239 $4,349,239 
Certificates of deposit2,865,207 1,714,889 
Checking accounts976,646 937,552 
Total9,099,092 7,001,680 
Noninterest-bearing deposits360,516 331,806 
Total deposits$9,459,608 $7,333,486 

42

LENDINGCLUB CORPORATION
Notes to Condensed Consolidated Financial Statements
(Tabular Amounts in Thousands, Except Share and Per Share Amounts, Ratios, or as Noted)
(Unaudited)

Total certificates of deposit at September 30, 2024 are scheduled to mature as follows:
2024$803,943 
20251,588,306 
2026443,356 
202717,724 
20282,039 
Thereafter9,839 
Total certificates of deposit$2,865,207 

The following table presents the amount of certificates of deposit with denominations exceeding the Federal Deposit Insurance Corporation (FDIC) limit of $250 thousand, segregated by time remaining until maturity, as of September 30, 2024:
Three months or lessOver 3 months through
6 months		Over 6 months through
12 months		Over
12 months		Total
Certificates of deposit$102,110 $36,946 $135,647 $45,972 $320,675 

13. Borrowings

Borrowing Capacity

The following table summarizes the Company’s available borrowing capacity and the related pledged collateral:
September 30, 2024December 31, 2023
Available Borrowing Capacity
Pledged Collateral
Available Borrowing CapacityPledged Collateral
FRB Discount Window
$2,942,472 $3,482,695 $2,816,501 $3,507,541 
FHLB of Des Moines
663,439 842,163 661,337 838,511 
Total
$3,605,911 $4,324,858 $3,477,838 $4,346,052 

Long-term Debt

As of September 30, 2024 and December 31, 2023, the Company had $2.7 million and $10.5 million, respectively, in debt outstanding related to the Retail Program. The Company does not assume principal or interest rate risk on loans that were funded through the Retail Program because loan balances, interest rates and maturities were matched and offset by an equal balance of notes and certificates with the exact same interest rates and maturities. As of December 31, 2020, LendingClub ceased offering and selling retail notes and certificates under the Retail Program. As such, the total balance will continue to decline as underlying borrower payments are made.

As of December 31, 2023, in addition to the above, the Company had debt outstanding of $8.9 million, consisting of advances from Paycheck Protection Program Liquidity Facility of $6.4 million (with pledged collateral of $6.4 million) and payable on Structured Program borrowings of $2.5 million (with pledged collateral of $3.9 million).

43

LENDINGCLUB CORPORATION
Notes to Condensed Consolidated Financial Statements
(Tabular Amounts in Thousands, Except Share and Per Share Amounts, Ratios, or as Noted)
(Unaudited)

14. Other Liabilities

Other liabilities consist of the following:
September 30, 2024December 31, 2023
Accounts payable and accrued expenses$68,429 $54,619 
Payable to investors (1)
32,577 36,823 
Operating lease liabilities29,441 37,869 
Other101,874 93,490 
Total other liabilities$232,321 $222,801 
(1)    Represents principal and interest on loans collected by the Company and pending disbursement to investors.

15. Employee Incentive Plans

The Company’s equity incentive plans provide for granting awards, including restricted stock units (RSUs), performance-based restricted stock units (PBRSUs), cash awards and stock options to employees, officers and directors.

Stock-based Compensation

Stock-based compensation expense, included in “Compensation and benefits” expense on the Income Statement, was as follows for the periods presented:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
RSUs
$10,290 $15,384 $33,845 $45,357 
PBRSUs958 1,471 2,317 3,935 
Stock-based compensation expense, gross11,248 16,855 36,162 49,292 
Less: Capitalized stock-based compensation expense1,714 2,449 5,635 7,170 
Stock-based compensation expense, net$9,534 $14,406 $30,527 $42,122 

Restricted Stock Units

The following table summarizes the Company’s RSU activity:
Number
of Units		Weighted-
Average
Grant Date
Fair Value
Unvested at December 31, 2023
6,999,831 $9.42 
Granted4,252,647 $8.87 
Vested(3,390,746)$10.12 
Forfeited/expired(1,151,204)$9.12 
Unvested at September 30, 2024
6,710,528 $8.77 

During the first nine months of 2024, the Company granted 4,252,647 RSUs with an aggregate fair value of $37.7 million.
44

LENDINGCLUB CORPORATION
Notes to Condensed Consolidated Financial Statements
(Tabular Amounts in Thousands, Except Share and Per Share Amounts, Ratios, or as Noted)
(Unaudited)


As of September 30, 2024, there was $52.8 million of unrecognized compensation cost related to unvested RSUs, which is expected to be recognized over a weighted-average period of approximately 1.8 years, subject to any forfeitures.

Performance-based Restricted Stock Units

The Company’s outstanding PBRSU awards have a market-based metric and/or an operating-based metric, each with a three-year performance period, following which any earned portion is immediately vested. With respect to PBRSU awards with a market-based metric, the compensation expense of the award is fixed at the time of grant (incorporating the probability of achieving the market-based metric) and expensed over the performance period. With respect to PBRSU awards with an operating-based metric, the compensation expense of the award is set at the time of grant (assuming a target level of achievement), subsequently adjusted for actual performance during the performance period and expensed over the performance/vesting period.

The following table summarizes the Company’s PBRSU activity:
Number
of Units		Weighted-
Average
Grant Date
Fair Value
Unvested at December 31, 2023
1,469,813 $12.60 
Granted462,060 $8.59 
Forfeited/expired(719,664)$16.64 
Unvested at September 30, 2024
1,212,209 $8.68 

During the first nine months of 2024, the Company granted 462,060 PBRSUs with an aggregate fair value of $4.0 million.

As of September 30, 2024, there was $4.6 million of unrecognized compensation cost related to unvested PBRSUs, which is expected to be recognized over a weighted-average period of approximately 1.3 years, subject to any forfeitures.

16. Income Taxes

For the third quarter and first nine months of 2024, the Company recorded an income tax expense of $3.6 million and $12.3 million, respectively, representing an effective tax rate of 19.7% and 22.9%, respectively. For the third quarter and first nine months of 2023, the Company recorded an income tax expense of $3.3 million and $12.1 million, respectively, representing an effective tax rate of 39.9% and 29.7%, respectively. The effective tax rate differs from the statutory rate due to the favorable impact of recurring items such as tax credits, the unfavorable impact of the non-deductible portions of executive compensation, and the net discrete impact of stock-based compensation. The decrease in effective tax rates for the 2024 periods compared to the same periods in 2023 is primarily due to the net discrete impact of stock-based compensation.

45

LENDINGCLUB CORPORATION
Notes to Condensed Consolidated Financial Statements
(Tabular Amounts in Thousands, Except Share and Per Share Amounts, Ratios, or as Noted)
(Unaudited)

The following table summarizes the Company’s net deferred tax assets:
September 30, 2024December 31, 2023
Deferred tax assets, net of liabilities$175,051 $197,519 
Valuation allowance(46,403)(46,108)
Deferred tax assets, net of valuation allowance$128,648 $151,411 

17. Leases

Lessor Arrangements

The Company has lessor arrangements which consist of sales-type leases for equipment (Equipment Finance). Such arrangements may include options to renew or to purchase the leased equipment at the end of the lease term. For the third quarter and first nine months of 2024, interest earned on Equipment Finance was $1.2 million and $4.3 million, respectively, and is included in “Interest and fees on loans and leases held for investment” on the Income Statement. For the third quarter and first nine months of 2023, interest earned on Equipment Finance was $2.0 million and $7.2 million, respectively.

The components of Equipment Finance assets are as follows:
September 30, 2024December 31, 2023
Lease receivables$59,045 $92,546 
Unguaranteed residual asset values22,116 28,913 
Unearned income(6,887)(11,072)
Deferred fees400 605 
Total$74,674 $110,992 

Future minimum lease payments based on maturity of the Company’s lessor arrangements as of September 30, 2024 were as follows:
2024$8,717 
202524,096 
202614,555 
20277,941 
20284,030 
Thereafter1,539 
Total lease payments$60,878 
Discount effect(1,833)
Present value of future minimum lease payments$59,045 

Lessee Arrangements

The Company has various operating leases, including with respect to its headquarters in San Francisco, California, and office spaces in the Salt Lake City, Utah, and Boston, Massachusetts areas. As of September 30, 2024, the lease agreements have remaining lease terms ranging from approximately two years to five years. Some of the lease agreements include options to extend the lease term for up to an additional fifteen years. As of September 30, 2024,
46

LENDINGCLUB CORPORATION
Notes to Condensed Consolidated Financial Statements
(Tabular Amounts in Thousands, Except Share and Per Share Amounts, Ratios, or as Noted)
(Unaudited)

the Company pledged $0.4 million of cash and $1.1 million in letters of credit as security deposits in connection with its lease agreements.

Balance sheet information related to leases was as follows:
ROU Assets and Lease LiabilitiesBalance Sheet ClassificationSeptember 30, 2024December 31, 2023
Operating lease assetsOther assets$21,198 $26,611 
Operating lease liabilitiesOther liabilities$29,441 $37,869 

Net lease costs were $2.7 million and $7.9 million during the third quarter and first nine months of 2024, respectively. Such costs are recorded within “Occupancy” expense on the Income Statement. Net lease costs were $3.1 million and $9.4 million during the third quarter and first nine months of 2023, respectively.

Supplemental cash flow information related to the Company’s operating leases was as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2024202320242023
Non-cash operating activity:
Leased assets obtained or adjusted in exchange for new, amended, and modified operating lease liabilities (1)
$— $— $— $(4,664)
(1)    Amounts include noncash remeasurements of the operating lease ROU asset.

The Company’s future minimum undiscounted lease payments under operating leases as of September 30, 2024 were as follows:
Operating Lease
Payments
2024$3,223 
202513,129 
20267,228 
20274,265 
20283,922 
Thereafter909 
Total lease payments$32,676 
Discount effect(3,235)
Present value of future minimum lease payments$29,441 

The weighted-average remaining lease term and discount rate used in the calculation of the Company’s operating lease assets and liabilities were as follows:
Lease Term and Discount RateSeptember 30, 2024December 31, 2023
Weighted-average remaining lease term (in years)3.133.72
Weighted-average discount rate4.96 %5.04 %

47

LENDINGCLUB CORPORATION
Notes to Condensed Consolidated Financial Statements
(Tabular Amounts in Thousands, Except Share and Per Share Amounts, Ratios, or as Noted)
(Unaudited)

18. Commitments and Contingencies

Operating Lease Commitments

For discussion regarding the Company’s operating lease commitments, see “Note 17. Leases.”

Loan Repurchase Obligations

The Company is generally required to repurchase loans or interests therein in the event of identity theft or certain other types of fraud on the part of the borrower or education and patient service providers. The Company may also repurchase loans or interests therein in connection with certain customer accommodations. In connection with certain loan sales, the Company agreed to repurchase loans if representations and warranties made with respect to such loans were breached under certain circumstances. The Company believes such provisions are customary and consistent with institutional loan and securitization market standards.

Unfunded Loan Commitments

As of September 30, 2024 and December 31, 2023, the contractual amount of unfunded loan commitments was $105.3 million and $78.1 million, respectively. See “Note 5. Loans and Leases Held for Investment at Amortized Cost, Net of Allowance for Loan and Lease Losses” for additional detail related to the reserve for unfunded lending commitments.

Legal

The Company is subject to various claims brought in a litigation or regulatory context. These matters include lawsuits, including but not limited to, putative class action lawsuits and routine litigation matters arising in the ordinary course of business. In addition, the Company, and its business practices and compliance with licensing and other regulatory requirements, is subject to periodic exams, investigations, inquiries or requests, enforcement actions and other proceedings from federal and state regulatory and/or law enforcement agencies, including from the federal banking regulators that directly regulate the Company and/or LC Bank. The majority of these claims and proceedings relate to or arise from alleged state or federal law and regulatory violations, or are alleged commercial disputes or consumer complaints. The Company accrues for costs related to contingencies when a loss from such claims is probable and the amount of loss can be reasonably estimated. In determining whether a loss from a claim is probable and the loss can be reasonably estimated, the Company reviews and evaluates its litigation and regulatory matters on at least a quarterly basis in light of potentially relevant factual and legal developments. If the Company determines an unfavorable outcome is not probable or the amount of loss cannot be reasonably estimated, the Company does not accrue for a potential litigation loss. In those situations, the Company discloses an estimate or range of the reasonably possible losses, if such estimates can be made.

Regulatory Examinations and Actions Relating to the Company’s Business Practices, Licensing and Compliance with Applicable Laws

The Company is and has been subject to periodic inquiries, exams and enforcement actions brought by federal and state regulatory agencies relating to the Company’s business practices, the required licenses to operate its business, and operating in compliance with applicable laws, including the requirements of its licenses and the regulatory framework applicable to its business.

In the past, the Company has successfully resolved such matters in a manner that was not material to its results of financial operations in any period and that did not materially limit the Company’s ability to conduct its business.
48

LENDINGCLUB CORPORATION
Notes to Condensed Consolidated Financial Statements
(Tabular Amounts in Thousands, Except Share and Per Share Amounts, Ratios, or as Noted)
(Unaudited)

However, no assurances can be given as to the timing, outcome or consequences of these matters or other similar matters if or as they arise.

19. Regulatory Requirements

LendingClub and LC Bank are subject to comprehensive supervision, examination and enforcement, and regulation by the FRB and the Office of the Comptroller of the Currency (OCC), including generally similar capital adequacy requirements adopted by the FRB and the OCC, respectively. These requirements establish required minimum ratios for Common Equity Tier 1 (CET1) risk-based capital, Tier 1 risk-based capital, total risk-based capital and a Tier 1 leverage ratio; set risk-weighting for assets and certain other items for purposes of the risk-based capital ratios; and define what qualifies as capital for purposes of meeting the capital requirements. Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company.

The minimum capital requirements under the Basel Committee on Banking Supervision standardized approach for U.S. banking organizations (Basel III) capital framework are: a CET1 risk-based capital ratio of 4.5%, a Tier 1 risk-based capital ratio of 6.0%, a total risk-based capital ratio of 8.0%, and a Tier 1 leverage ratio of 4.0%. Additionally, a Capital Conservation Buffer (CCB) of 2.5% must be maintained above the minimum risk-based capital requirements in order to avoid certain limitations on capital distributions, stock repurchases, and certain discretionary bonus payments. In addition to these guidelines, the regulators assess any particular institution’s capital adequacy based on numerous factors and may require a particular banking organization to maintain capital at levels higher than the generally applicable minimums prescribed under the Basel III capital framework.

The following table summarizes the Company’s and LC Bank’s regulatory capital amounts (in millions) and ratios:
September 30, 2024December 31, 2023
Required Minimum plus Required CCB for
Non-Leverage Ratios
AmountRatioAmountRatio
LendingClub Corporation:
CET1 capital (1)
$1,157.2 15.9 %$1,090.2 17.9 %7.0 %
Tier 1 capital$1,157.2 15.9 %$1,090.2 17.9 %8.5 %
Total capital$1,249.8 17.1 %$1,169.2 19.2 %10.5 %
Tier 1 leverage$1,157.2 11.3 %$1,090.2 12.9 %4.0 %
Risk-weighted assets$7,289.3 N/A$6,104.5 N/AN/A
Quarterly adjusted average assets$10,270.0 N/A$8,476.1 N/AN/A
LendingClub Bank:
CET1 capital (1)
$1,050.8 14.5 %$949.4 15.8 %7.0 %
Tier 1 capital$1,050.8 14.5 %$949.4 15.8 %8.5 %
Total capital$1,142.8 15.8 %$1,027.4 17.1 %10.5 %
Tier 1 leverage$1,050.8 10.3 %$949.4 11.4 %4.0 %
Risk-weighted assets$7,235.1 N/A$6,022.2 N/AN/A
Quarterly adjusted average assets$10,195.1 N/A$8,337.4 N/AN/A
N/A – Not applicable
(1)     Consists of common stockholders’ equity as defined under U.S. GAAP and certain adjustments made in accordance with regulatory capital guidelines, including the addition of the CECL transitional benefit and deductions for goodwill and other intangible assets.

In response to the COVID-19 pandemic, the FRB, OCC, and FDIC adopted a final rule related to the regulatory
49

LENDINGCLUB CORPORATION
Notes to Condensed Consolidated Financial Statements
(Tabular Amounts in Thousands, Except Share and Per Share Amounts, Ratios, or as Noted)
(Unaudited)

capital treatment of the allowance for credit losses under CECL. As permitted by the rule, the Company elected to delay the estimated impact of CECL on regulatory capital resulting in a CET1 capital benefit of $35 million at December 31, 2021. This benefit is phased out over a three-year transition period that commenced on January 1, 2022 at a rate of 25% each year through January 1, 2025.

The Federal Deposit Insurance Act provides for a system of “prompt corrective action” (PCA). The PCA regime provides for capitalization categories ranging from “well-capitalized” to “critically undercapitalized.” An institution’s PCA category is determined primarily by its regulatory capital ratios. The PCA requires remedial actions and imposes limitations that become increasingly stringent as its PCA capitalization category declines, including the ability to accept and/or rollover brokered deposits. At September 30, 2024 and December 31, 2023, the Company’s and LC Bank’s regulatory capital ratios exceeded the thresholds required to be regarded as well-capitalized institutions and met all capital adequacy requirements to which they are subject. There have been no events or conditions since September 30, 2024 that management believes would change the Company’s categorization.

Federal laws and regulations limit the dividends that a national bank may pay. Dividends that may be paid by a national bank without the express approval of the OCC are limited to that bank’s retained net profits for the preceding two calendar years plus retained net profits up to the date of any dividend declaration in the current calendar year. Retained net profits, as defined by the OCC, consist of net income less dividends declared during the period. No dividends were declared by LC Bank during the first nine months of 2024 or during 2023.

Federal law restricts the amount and the terms of both credit and non-credit transactions between a bank and its nonbank affiliates. These covered transactions may not exceed 10% of the bank’s capital and surplus (which for this purpose represents tier 1 and tier 2 capital, as calculated under the risk-based capital rules, plus the balance of the allowance for credit losses excluded from tier 2 capital) with any single nonbank affiliate and 20% of the bank’s capital and surplus with all its nonbank affiliates. Covered transactions that are extensions of credit may require collateral to be pledged to provide added security to the bank.

20. Segment Reporting

The Company defines operating segments to be components of the Company for which discrete financial information is evaluated regularly by the Company’s Chief Executive Officer and Chief Financial Officer to allocate resources and evaluate financial performance. This information is reviewed according to the legal organizational structure of the Company’s operations with products and services presented separately for the parent bank holding company and its wholly-owned subsidiary, LC Bank. Income taxes are recorded on a separate entity basis whereby each operating segment determines income tax expense or benefit as if it filed a separate tax return.

All of the Company’s revenue is generated in the United States. The Company has experienced reductions in marketplace investor demand in connection with increases in interest rates and volatility in the macro economy. However, no individual borrower or marketplace investor accounted for 10% or more of total net revenue during the third quarter and first nine months of 2024 and the third quarter of 2023. During the first nine months of 2023, one marketplace bank investor accounted for 12% of total net revenue. No other individual borrower or marketplace investor accounted for 10% or more of total net revenue for any of the periods presented.

LendingClub Bank

The LC Bank operating segment represents the national bank legal entity and reflects post-Acquisition operating activities. This segment provides a full complement of financial products and solutions, including loans, leases and deposits. It originates loans to individuals and businesses, retains loans for investment, sells loans to investors and manages relationships with deposit holders.
50

LENDINGCLUB CORPORATION
Notes to Condensed Consolidated Financial Statements
(Tabular Amounts in Thousands, Except Share and Per Share Amounts, Ratios, or as Noted)
(Unaudited)


LendingClub Corporation (Parent Only)

The LendingClub Corporation (Parent only) operating segment represents the holding company legal entity and predominately reflects the operations of the Company prior to the Acquisition. This activity includes, but is not limited to, servicing fee revenue on purchased servicing assets, and interest income and interest expense related to the Retail Program and Structured Program transactions entered into prior to the Acquisition.

Financial information for the segments is presented in the following tables:
LendingClub
Bank		LendingClub
Corporation
(Parent only)		Intercompany
Eliminations		Consolidated Total
Three Months Ended September 30,Three Months Ended September 30,Three Months Ended September 30,Three Months Ended September 30,
20242023202420232024202320242023
Non-interest income:
Marketplace revenue$42,583 $37,439 $9,125 $12,320 $6,676 $11,127 $58,384 $60,886 
Other non-interest income13,047 18,783 2,793 2,478 (12,584)(18,303)3,256 2,958 
Total non-interest income55,630 56,222 11,918 14,798 (5,908)(7,176)61,640 63,844 
Interest income:
Interest income239,880 203,961 497 3,451 — — 240,377 207,412 
Interest expense(100,005)(69,517)(131)(890)— — (100,136)(70,407)
Net interest income139,875 134,444 366 2,561 — — 140,241 137,005 
Total net revenue195,505 190,666 12,284 17,359 (5,908)(7,176)201,881 200,849 
Provision for credit losses(47,541)(64,463)— (16)— — (47,541)(64,479)
Non-interest expense(129,685)(122,142)(12,555)(13,069)5,908 7,176 (136,332)(128,035)
Income (Loss) before income tax benefit (expense)
18,279 4,061 (271)4,274 — — 18,008 8,335 
Income tax benefit (expense)(3,657)(2,380)106 (947)— — (3,551)(3,327)
Net income (loss)
$14,622 $1,681 $(165)$3,327 $— $— $14,457 $5,008 
Capital expenditures$12,436 $15,984 $— $— $— $— $12,436 $15,984 
Depreciation and amortization$11,278 $7,579 $2,063 $3,671 $— $— $13,341 $11,250 
51

LENDINGCLUB CORPORATION
Notes to Condensed Consolidated Financial Statements
(Tabular Amounts in Thousands, Except Share and Per Share Amounts, Ratios, or as Noted)
(Unaudited)

LendingClub
Bank		LendingClub
Corporation
(Parent only)		Intercompany
Eliminations		Consolidated Total
Nine Months Ended September 30,Nine Months Ended September 30,Nine Months Ended September 30,Nine Months Ended September 30,
20242023202420232024202320242023
Non-interest income:
Marketplace revenue$120,631 $172,133 $29,899 $33,200 $20,098 $33,970 $170,628 $239,303 
Other non-interest income39,129 59,687 6,642 7,462 (38,246)(57,800)7,525 9,349 
Total non-interest income159,760 231,820 36,541 40,662 (18,148)(23,830)178,153 248,652 
Interest income:
Interest income662,501 612,805 4,861 11,506 — — 667,362 624,311 
Interest expense(275,016)(189,959)(689)(3,991)— — (275,705)(193,950)
Net interest income387,485 422,846 4,172 7,515 — — 391,657 430,361 
Total net revenue547,245 654,666 40,713 48,177 (18,148)(23,830)569,810 679,013 
Provision for credit losses(115,029)(201,658)— — — — (115,029)(201,658)
Non-interest expense(383,038)(413,088)(35,933)(47,164)18,148 23,830 (400,823)(436,422)
Income before income tax expense
49,178 39,920 4,780 1,013 — — 53,958 40,933 
Income tax expense
(11,214)(12,065)(1,134)(84)— — (12,348)(12,149)
Net income
$37,964 $27,855 $3,646 $929 $— $— $41,610 $28,784 
Capital expenditures$37,082 $48,239 $— $— $— $— $37,082 $48,239 
Depreciation and amortization$32,340 $21,546 $6,746 $13,696 $— $— $39,086 $35,242 
52

LENDINGCLUB CORPORATION
Notes to Condensed Consolidated Financial Statements
(Tabular Amounts in Thousands, Except Share and Per Share Amounts, Ratios, or as Noted)
(Unaudited)

LendingClub BankLendingClub Corporation
(Parent only)		Intercompany
Eliminations		Consolidated Total
 September 30, 2024December 31, 2023September 30, 2024December 31, 2023September 30, 2024December 31, 2023September 30, 2024December 31, 2023
Assets
Total cash and cash equivalents$989,612 $1,230,206 $89,967 $110,273 $(62,649)$(87,975)$1,016,930 $1,252,504 
Restricted cash— — 43,432 46,628 (10,085)(4,984)33,347 41,644 
Securities available for sale at fair value3,311,418 1,617,309 — 2,953 — — 3,311,418 1,620,262 
Loans held for sale at fair value849,967 407,773 — — — — 849,967 407,773 
Loans and leases held for investment, net3,887,765 4,539,915 — — — — 3,887,765 4,539,915 
Loans held for investment at fair value (1)
1,281,219 253,800 6,276 18,878 — — 1,287,495 272,678 
Property, equipment and software, net157,494 144,439 10,315 17,078 — — 167,809 161,517 
Investment in subsidiary— — 865,724 816,703 (865,724)(816,703)— — 
Goodwill75,717 75,717 — — — — 75,717 75,717 
Other assets295,059 341,680 136,780 131,135 (24,780)(17,362)407,059 455,453 
Total assets10,848,251 8,610,839 1,152,494 1,143,648 (963,238)(927,024)11,037,507 8,827,463 
Liabilities and Equity
Total deposits9,532,342 7,426,445 — — (72,734)(92,959)9,459,608 7,333,486 
Borrowings (1)
— 6,398 2,683 12,956 — — 2,683 19,354 
Other liabilities175,752 154,077 81,349 86,086 (24,780)(17,362)232,321 222,801 
Total liabilities9,708,094 7,586,920 84,032 99,042 (97,514)(110,321)9,694,612 7,575,641 
Total equity1,140,157 1,023,919 1,068,462 1,044,606 (865,724)(816,703)1,342,895 1,251,822 
Total liabilities and equity$10,848,251 $8,610,839 $1,152,494 $1,143,648 $(963,238)$(927,024)$11,037,507 $8,827,463 
(1)    Prior period amounts have been reclassified to conform to the current period presentation.

53

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the condensed consolidated financial statements and related notes that appear in this Quarterly Report on Form 10-Q (Report). In addition to historical condensed consolidated financial information, the following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to these differences include those discussed below and elsewhere in this Report, and in “Part I – Item 1A. Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (Annual Report) and, if applicable, as modified by “Part II – Item 1A. Risk Factors” in this Report. The forward-looking statements included in this Report are made only as of the date hereof and we do not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

54

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
Overview

LendingClub operates a leading digital marketplace bank and is one of a small number of fintech companies with a national bank charter. We are building a new of kind of bank, one that aims to advantage our members with the information, tools, and guidance they need to achieve their own version of financial success. We do this by leveraging data and technology to increase access to credit, lower borrowing costs, and improve the return on savings – all through a smart, simple, and rewarding digital experience.

Executive Summary

The following results for the third quarter of 2024 reflect growth in originations and improved loan sales pricing. In addition, during the third quarter of 2024, we acquired a loan portfolio with a $1.3 billion outstanding principal balance which drove growth in total assets.

•Loan originations: Loan originations for the third quarter of 2024 increased $100.1 million, or 6%, sequentially and $404.8 million, or 27%, year over year. The increases were driven by an increase in unsecured personal loan origination volume combined with investor demand for Structured Certificates.
◦Loan originations held for investment (HFI) at amortized cost for the third quarter of 2024 increased $173.9 million, or 52%, sequentially and $183.3 million, or 56%, year over year.
◦Loan originations HFI at amortized cost as a percentage of loan originations was 27% and 19% for the third and second quarters of 2024, respectively, and 22% for the third quarter of 2023. The percentage of loan originations HFI in any period is dependent on many factors, including quarterly loan origination volume, risk-adjusted returns, liquidity and general regulatory capital considerations.

•Total net revenue: Total net revenue for the third quarter of 2024 increased $14.6 million, or 8%, sequentially and $1.0 million, or 1%, year over year.
◦Marketplace revenue: Marketplace revenue for the third quarter of 2024 increased $2.0 million, or 4%, sequentially and decreased $2.5 million, or 4%, year over year. The sequential increase was primarily due to improved loan sales prices. The year-over-year decrease was primarily due to a decrease in loan balances serviced for others, partially offset by improved loan sales prices. In addition, both the sequential and year-over-year changes reflect a $7.7 million servicing asset write-off related to the loan portfolio purchase during the third quarter of 2024.
◦Net interest income: Net interest income for the third quarter of 2024 increased $11.7 million, or 9%, sequentially and $3.2 million, or 2%, year over year. The increases were primarily due to growth in total interest-earning assets driven by the $1.3 billion loan portfolio purchase during the third quarter of 2024, partially offset by an increase in interest expense associated with growth in interest-bearing deposits.
◦Net interest margin: Net interest margin for the third quarter of 2024 was 5.63%, decreasing from 5.75% in the second quarter of 2024 and from 6.91% in the third quarter of 2023.

•Provision for credit losses: Provision for credit losses for the third quarter of 2024 increased $12.0 million, or 34%, sequentially and decreased $16.9 million, or 26%, year over year. The sequential increase was primarily driven by an increase in initial provision from a higher volume of originated loans retained as HFI at amortized cost, partially offset by the impact of a $5.3 million provision in our Commercial Real Estate (CRE) portfolio due to one office loan, which was recognized in the second quarter of 2024. Excluding this one office loan, the CRE office loan portfolio balance was under $35 million as of September 30, 2024. The majority of office loans were originated prior to the Acquisition. The year-over-year decrease was primarily driven by a higher quantitative and qualitative allowance in the third quarter of 2023 due to an increase in expected losses and a less favorable economic outlook, partially offset by an increase in the initial provision for credit losses from a higher volume of originated loans retained as HFI at amortized cost.
55

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)

•Total non-interest expense: Total non-interest expense for the third quarter of 2024 increased $4.1 million, or 3%, sequentially and $8.3 million, or 6%, year over year. The year-over-year increase was primarily due to an increase in marketing expense based on higher origination volume of marketplace loans and an increase in depreciation and amortization expense, partially offset by a decrease in compensation and benefits expense due to the workforce reduction plans we implemented in 2023.

•Net income: Net income for the third quarter of 2024 decreased $0.4 million, or 3%, sequentially and increased $9.4 million, or 189%, year over year.

•Diluted earnings per share (EPS): Diluted EPS was $0.13 for both the third and second quarters of 2024 and $0.05 for the third quarter of 2023.

•Pre-provision net revenue (PPNR): Pre-provision net revenue for the third quarter of 2024 increased $10.6 million, or 19%, sequentially and decreased $7.3 million, or 10%, year over year. The sequential increase was driven by an increase in total net revenue, partially offset by an increase in non-interest expense. The year-over-year decrease was driven by an increase in non-interest expense.

•Total assets: Total assets as of September 30, 2024 increased $1.5 billion, or 15%, sequentially and $2.6 billion, or 30%, year over year. The increases primarily reflect growth in loans held for investment at fair value, including the acquisition of a loan portfolio during the third quarter of 2024 with a $1.3 billion outstanding principal balance, securities related to our Structured Certificates program, and loans held for sale (HFS) related to our extended seasoning program.

•Deposits: Total deposits as of September 30, 2024 increased $1.4 billion, or 17%, sequentially, and $2.5 billion, or 35%, year over year. The increases primarily reflect growth in high-yield savings and certificates of deposit. Federal Deposit Insurance Corporation (FDIC)-insured deposits represent approximately 88% of total deposits as of September 30, 2024.

The above summary should be read in conjunction with this Management’s Discussion and Analysis of Financial Condition and Results of Operations in its entirety. For additional discussion related to our operating segments, see “Segment Information.”

56

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
Financial Highlights
We regularly review several metrics to evaluate our business, measure our performance, identify trends, formulate financial projections and make strategic decisions. The following presents our select financial metrics for the periods presented:
As of and for the Three Months Ended
As of and for the Nine Months Ended September 30,
September 30,
2024		June 30,
2024		September 30,
2023		20242023
Non-interest income$61,640 $58,713 $63,844 $178,153 $248,652 
Net interest income140,241 128,528 137,005 391,657 430,361 
Total net revenue201,881 187,241 200,849 569,810 679,013 
Non-interest expense136,332 132,258 128,035 400,823 436,422 
Pre-provision net revenue (1)
65,549 54,983 72,814 168,987 242,591 
Provision for credit losses47,541 35,561 64,479 115,029 201,658 
Income before income tax expense
18,008 19,422 8,335 53,958 40,933 
Income tax expense
(3,551)(4,519)(3,327)(12,348)(12,149)
Net income14,457 14,903 5,008 41,610 28,784 
Basic EPS$0.13 $0.13 $0.05 $0.37 $0.27 
Diluted EPS$0.13 $0.13 $0.05 $0.37 $0.27 
LendingClub Corporation Performance Metrics:
Net interest margin5.63 %5.75 %6.91 %5.70 %7.17 %
Efficiency ratio (2)
67.5 %70.6 %63.7 %70.3 %64.3 %
Return on average equity (ROE)4.4 %4.7 %1.7 %4.3 %3.2 %
Return on average total assets (ROA)0.6 %0.6 %0.2 %0.6 %0.5 %
Marketing as a % of loan originations1.37 %1.47 %1.30 %1.43 %1.21 %
LendingClub Corporation Capital Metrics:
Common equity tier 1 capital ratio15.9 %17.9 %16.9 %
Tier 1 leverage ratio11.3 %12.1 %13.2 %
Book value per common share$11.95 $11.52 $11.02 
Tangible book value per common share (1)
$11.19 $10.75 $10.21 
Loan Originations (in millions) (3):
Marketplace loans$1,403 $1,477 $1,182 $4,242 $3,821 
Loan originations held for investment510 336 326 1,131 1,986 
Total loan originations$1,913 $1,813 $1,508 $5,372 $5,806 
Loan originations held for investment as % of total loan originations27 %19 %22 %21 %34 %
Servicing portfolio AUM (in millions) (4):
Total servicing portfolio$12,674 $12,999 $14,818 
Loans serviced for others$7,028 $8,337 $9,601 
(1)    Represents a non-GAAP financial measure. See “Non-GAAP Financial Measures” for additional information.
(2)    Calculated as the ratio of non-interest expense to total net revenue.
(3)    Includes unsecured personal loans and auto loans only.
(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 for investment by the Company.

57

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
As of and for the Three Months Ended
September 30,
2024		June 30,
2024		September 30,
2023
Balance Sheet Data:
Securities available for sale
$3,311,418 $2,814,383 $795,669 
Loans held for sale at fair value
$849,967 $791,059 $362,789 
Loans and leases held for investment at amortized cost
$4,108,329 $4,228,391 $5,237,277 
Gross allowance for loan and lease losses (1)
$(274,538)$(285,368)$(388,156)
Recovery asset value (2)
$53,974 $56,459 $37,661 
Allowance for loan and lease losses
$(220,564)$(228,909)$(350,495)
Loans and leases held for investment at amortized cost, net
$3,887,765 $3,999,482 $4,886,782 
Loans held for investment at fair value (3)(4)
$1,287,495 $339,222 $344,417 
Total loans and leases held for investment (3)(4)
$5,175,260 $4,338,704 $5,231,199 
Total assets$11,037,507 $9,586,050 $8,472,351 
Total deposits$9,459,608 $8,095,328 $7,000,263 
Total liabilities$9,694,612 $8,298,105 $7,264,132 
Total equity$1,342,895 $1,287,945 $1,208,219 
Allowance Ratios (5):
ALLL to total loans and leases held for investment at amortized cost
5.4 %5.4 %6.7 %
ALLL to commercial loans and leases held for investment at amortized cost
3.1 %2.7 %2.0 %
ALLL to consumer loans and leases held for investment at amortized cost
5.8 %5.9 %7.4 %
Gross ALLL to consumer loans and leases held for investment at amortized cost
7.3 %7.5 %8.2 %
Net charge-offs$55,805 $66,818 $68,795 
Net charge-off ratio (6)
5.4 %6.2 %5.1 %
(1)    Represents the allowance for future estimated net charge-offs on existing portfolio balances.
(2)    Represents the negative allowance for expected recoveries of amounts previously charged-off.
(3)    Prior period amounts have been reclassified to conform to the current period presentation.
(4)    The balance at September 30, 2024 includes a loan portfolio acquired during the third quarter of 2024 with a $1.3 billion outstanding principal balance.
(5)    Calculated as ALLL or gross ALLL, where applicable, to the corresponding portfolio segment balance of loans and leases held for investment at amortized cost.
(6)    Calculated as annualized net charge-offs divided by average outstanding loans and leases HFI at amortized cost, net, during the period.
58

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
Results of Operations
The following table sets forth the Condensed Consolidated Statements of Income (Income Statement) data for each of the periods presented:
Three Months EndedChange (%)
September 30,
2024		June 30,
2024		September 30,
2023
Q3 2024
vs
Q2 2024
Q3 2024
vs
Q3 2023
Non-interest income:
Marketplace revenue$58,384 $56,353 $60,886 4 %(4)%
Other non-interest income3,256 2,360 2,958 38 %10 %
Total non-interest income61,640 58,713 63,844 5 %(3)%
Interest income:
Interest on loans held for sale30,326 26,721 9,582 13 %216 %
Interest and fees on loans and leases held for investment118,788 124,819 158,960 (5)%(25)%
Interest on loans held for investment at fair value (1)
26,345 12,047 12,605 119 %109 %
Interest on securities available for sale52,476 42,879 9,467 22 %454 %
Other interest income
12,442 13,168 16,798 (6)%(26)%
Total interest income240,377 219,634 207,412 9 %16 %
Interest expense:
Interest on deposits96,863 90,193 69,509 7 %39 %
Other interest expense (1)
3,273 913 898 258 %264 %
Total interest expense100,136 91,106 70,407 10 %42 %
Net interest income140,241 128,528 137,005 9 %2 %
Total net revenue201,881 187,241 200,849 8 %1 %
Provision for credit losses47,541 35,561 64,479 34 %(26)%
Non-interest expense:
Compensation and benefits57,408 56,540 58,497 2 %(2)%
Marketing26,186 26,665 19,555 (2)%34 %
Equipment and software12,789 12,360 12,631 3 %1 %
Depreciation and amortization13,341 13,072 11,250 2 %19 %
Professional services8,014 7,804 8,414 3 %(5)%
Occupancy4,005 3,941 4,612 2 %(13)%
Other non-interest expense14,589 11,876 13,076 23 %12 %
Total non-interest expense136,332 132,258 128,035 3 %6 %
Income before income tax expense
18,008 19,422 8,335 (7)%116 %
Income tax expense
(3,551)(4,519)(3,327)(21)%7 %
Net income$14,457 $14,903 $5,008 (3)%189 %
59

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
Nine Months Ended September 30,
20242023Change (%)
Non-interest income:
Marketplace revenue$170,628 $239,303 (29)%
Other non-interest income7,525 9,349 (20)%
Total non-interest income178,153 248,652 (28)%
Interest income:
Interest on loans held for sale71,746 19,772 263 %
Interest and fees on loans and leases held for investment376,000 471,512 (20)%
Interest on loans held for investment at fair value (1)
46,801 64,066 (27)%
Interest on securities available for sale130,702 19,315 577 %
Other42,113 49,646 (15)%
Total interest income667,362 624,311 7 %
Interest expense:
Interest on deposits271,019 189,303 43 %
Other interest expense (1)
4,686 4,647 1 %
Total interest expense275,705 193,950 42 %
Net interest income391,657 430,361 (9)%
Total net revenue569,810 679,013 (16)%
Provision for credit losses115,029 201,658 (43)%
Non-interest expense:
Compensation and benefits173,502 203,357 (15)%
Marketing76,987 70,375 9 %
Equipment and software37,833 40,295 (6)%
Depreciation and amortization39,086 35,242 11 %
Professional services22,909 27,446 (17)%
Occupancy11,807 13,606 (13)%
Other non-interest expense38,699 46,101 (16)%
Total non-interest expense400,823 436,422 (8)%
Income before income tax expense
53,958 40,933 32 %
Income tax expense
(12,348)(12,149)2 %
Net income$41,610 $28,784 45 %
(1)    Prior period amounts have been reclassified to conform to the current period presentation.

The analysis below is presented for the following periods: Third quarter of 2024 compared to the second quarter of 2024 (sequential), third quarter of 2024 compared to the third quarter of 2023 (year over year) and the first nine months of 2024 compared to the first nine months of 2023 (nine months over nine months).

60

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
Marketplace Revenue

Marketplace revenue consists of the following:
Three Months EndedChange (%)
September 30,
2024		June 30,
2024		September 30,
2023
Q3 2024
vs
Q2 2024
Q3 2024
vs
Q3 2023
Origination fees$71,465 $77,131 $60,912 (7)%17 %
Servicing fees8,081 19,869 32,768 (59)%(75)%
Gain on sales of loans12,433 10,748 8,572 16 %45 %
Net fair value adjustments(33,595)(51,395)(41,366)(35)%(19)%
Total marketplace revenue$58,384 $56,353 $60,886 4 %(4)%

Nine Months Ended September 30,
20242023Change (%)
Origination fees$218,675 $202,444 8 %
Servicing fees47,542 81,163 (41)%
Gain on sales of loans34,090 35,918 (5)%
Net fair value adjustments(129,679)(80,222)62 %
Total marketplace revenue$170,628 $239,303 (29)%

We elected to account for HFS loans under the fair value option. With the election of the fair value option, origination fees, net fair value adjustments prior to the sales of the loans, and servicing asset gains on the sales of the loans, are reported as separate components within “Marketplace revenue.”

Origination Fees

Origination fees recorded as a component of marketplace revenue are primarily fees earned related to originating and issuing unsecured personal loans that are HFS.

The following tables present loan origination volume during each of the periods set forth below:
Three Months EndedChange (%)
September 30,
2024		June 30,
2024		September 30,
2023
Q3 2024
vs
Q2 2024
Q3 2024
vs
Q3 2023
Marketplace loans$1,403,330 $1,477,116 $1,181,858 (5)%19 %
Loan originations held for investment509,569 335,646326,290 52 %56 %
Total loan originations (1)
$1,912,899 $1,812,762 $1,508,148 6 %27 %
Nine Months Ended September 30,
20242023Change (%)
Marketplace loans$4,241,623 $3,820,640 11 %
Loan originations held for investment1,130,537 1,985,659 (43)%
Total loan originations (1)
$5,372,160 $5,806,299 (7)%
(1)    Includes unsecured personal loans and auto loans only.

61

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
Sequential: Origination fees were $71.5 million and $77.1 million for the third and second quarters of 2024, respectively, a decrease of 7%.

Year Over Year: Origination fees were $71.5 million and $60.9 million for the third quarters of 2024 and 2023, respectively, an increase of 17%.

Nine Months Over Nine Months: Origination fees were $218.7 million and $202.4 million for the first nine months of 2024 and 2023, respectively, an increase of 8%.

The changes in origination fees were primarily driven by the increase or decrease in the origination volume of marketplace loans.

Servicing Fees

We receive servicing fees to compensate us for servicing loans on behalf of investors, including managing payments from borrowers, collections and payments to those investors. Servicing fee revenue related to loans sold also includes the change in fair value of servicing assets associated with the loans.

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.
As of the period ended
Change (%)
September 30,
2024		June 30,
2024		September 30,
2023
Q3 2024
vs
Q2 2024
Q3 2024
vs
Q3 2023
AUM (in millions):
Loans sold$7,033 $8,345 $9,629 (16)%(27)%
Loans held by LendingClub Bank5,641 4,654 5,189 21 %9 %
Total$12,674 $12,999 $14,818 (3)%(14)%

In addition to the loans serviced on our marketplace platform, we serviced $106.5 million, $111.6 million and $138.8 million in outstanding principal balance of commercial loans sold as of September 30, 2024, June 30, 2024 and September 30, 2023, respectively.

Sequential: Servicing fees were $8.1 million and $19.9 million for the third and second quarters of 2024, respectively, a decrease of 59%.

Year Over Year: Servicing fees were $8.1 million and $32.8 million for the third quarters of 2024 and 2023, respectively, a decrease of 75%.

Nine Months Over Nine Months: Servicing fees were $47.5 million and $81.2 million for the first nine months of 2024 and 2023, respectively, a decrease of 41%.
62

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)

The decreases in servicing fees were primarily due to a decrease in loan balances serviced for others as well as a $7.7 million servicing asset write-off related to the loan portfolio purchase during the third quarter of 2024. In addition, the year over year and nine months over nine months decreases were also driven by a one-time benefit related to recouping volume-based purchase incentives during the third quarter of 2023 as well as an increase in the fair value of the servicing asset based on higher expected servicing fee revenue in 2023.

Gain on Sales of Loans

In connection with loan sales, we recognize a gain or loss on the sale of loans based on the level to which the contractual servicing fee is above or below an estimated market rate of servicing at the time of sale. Additionally, we recognize transaction costs, if any, as a loss on sale of loans.

The following tables present the unpaid principal balance of the volume of marketplace loans sold, which is a key driver of our gain on sales revenue, during each of the periods set forth below:
Three Months EndedChange (%)
September 30,
2024		June 30,
2024		September 30,
2023
Q3 2024
vs
Q2 2024
Q3 2024
vs
Q3 2023
Marketplace loans sold (1)
$1,195,128 $1,078,287 $964,285 11 %24 %
Nine Months Ended September 30,
20242023Change (%)
Marketplace loans sold (1)
$3,371,859 $3,478,666 (3)%
(1)    Includes unsecured personal loans and auto loans only.

Sequential: Gain on sales of loans was $12.4 million and $10.7 million for the third and second quarters of 2024, respectively, an increase of 16%.

Year Over Year: Gain on sales of loans was $12.4 million and $8.6 million for the third quarters of 2024 and 2023, respectively, an increase of 45%.

Nine Months Over Nine Months: Gain on sales of loans was $34.1 million and $35.9 million for the first nine months of 2024 and 2023, respectively, a decrease of 5%.

The changes in the gain on sales of loans were primarily driven by the increase or decrease in the volume of marketplace loans sold.

Net Fair Value Adjustments

We record fair value adjustments on loans that are recorded at fair value, which include gains or losses from sale prices in excess of or less than the loan principal amount sold and realized net charge-offs. In addition, as loans are held on the Balance Sheet, incremental fair value loss adjustments on the loans are recorded in “Net fair value adjustments” within “Marketplace revenue,” whereas the associated interest income, based on the loans’ contractual interest rate, is recorded within “Net interest income.”

Sequential: Net fair value adjustments were $(33.6) million and $(51.4) million for the third and second quarters of 2024, respectively, a decreased loss of $17.8 million.

63

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
Year Over Year: Net fair value adjustments were $(33.6) million and $(41.4) million for the third quarters of 2024 and 2023, respectively, a decreased loss of $7.8 million.

Nine Months Over Nine Months: Net fair value adjustments were $(129.7) million and $(80.2) million for the first nine months of 2024 and 2023, respectively, an increased loss of $49.5 million.

The changes in net fair value adjustments were primarily driven by the increase or decrease in the origination volume of marketplace loans. In addition, the decreased losses sequentially and year over year were attributable to higher loan sales prices, resulting from lower interest rates and increased investor demand.

Net fair value adjustments primarily consist of fair value adjustments on our loans HFS portfolio. See “Notes to Condensed Consolidated Financial Statements – Note 7. Fair Value Measurements” for additional information related to the significant unobservable inputs used in the fair value measurement of loans HFS and activity within the loans HFS portfolio.
64

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
Net Interest Income

The table below presents net interest income information corresponding to interest-earning assets and interest-bearing funding sources. The average yield/rate is calculated by dividing the annualized period-end interest income/expense by the average balance.
Three Months Ended
September 30, 2024
Three Months Ended
June 30, 2024
Three Months Ended
September 30, 2023
Average
Balance		Interest Income/
Expense		Average Yield/
Rate		Average
Balance		Interest Income/
Expense		Average Yield/
Rate		Average
Balance		Interest Income/
Expense		Average Yield/
Rate
Interest-earning assets (1)
Cash, cash equivalents, restricted cash and other$939,611 $12,442 5.30 %$976,330 $13,168 5.40 %$1,249,087 $16,798 5.38 %
Securities available for sale at fair value3,047,305 52,476 6.89 %2,406,767 42,879 7.13 %601,512 9,467 6.30 %
Loans held for sale at fair value899,434 30,326 13.49 %838,143 26,721 12.75 %286,111 9,582 13.40 %
Loans and leases held for investment at amortized cost:
Unsecured personal loans
3,045,150 103,291 13.57 %3,243,161 108,425 13.37 %4,257,360 142,118 13.35 %
Commercial and other consumer loans (2)
1,057,688 15,497 5.86 %1,097,846 16,394 5.97 %1,147,130 16,842 5.87 %
Loans and leases held for investment at amortized cost4,102,838 118,788 11.58 %4,341,007 124,819 11.50 %5,404,490 158,960 11.76 %
Loans held for investment at fair value (2)
972,698 26,345 10.83 %383,872 12,047 12.55 %385,148 12,605 13.09 %
Total loans and leases held for investment (2)
5,075,536 145,133 11.44 %4,724,879 136,866 11.59 %5,789,638 171,565 11.85 %
Total interest-earning assets9,961,886 240,377 9.65 %8,946,119 219,634 9.82 %7,926,348 207,412 10.47 %
Cash and due from banks and restricted cash41,147 55,906 69,442 
Allowance for loan and lease losses(225,968)(245,478)(354,263)
Other non-interest earning assets624,198 632,253 691,641 
Total assets$10,401,263 $9,388,800 $8,333,168 
Interest-bearing liabilities
Interest-bearing deposits:
Checking and money market accounts$1,092,376 $10,146 3.70 %$1,097,696 $10,084 3.69 %$1,271,720 $9,541 2.98 %
Savings accounts and certificates of deposit6,944,586 86,717 4.97 %6,449,061 80,109 5.00 %5,357,717 59,968 4.44 %
Interest-bearing deposits
8,036,962 96,863 4.79 %7,546,757 90,193 4.81 %6,629,437 69,509 4.16 %
Other interest-bearing liabilities (2)
486,736 3,273 2.69 %56,628 913 6.45 %35,878 898 10.03 %
Total interest-bearing liabilities8,523,698 100,136 4.67 %7,603,385 91,106 4.82 %6,665,315 70,407 4.19 %
65

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
Three Months Ended
September 30, 2024
Three Months Ended
June 30, 2024
Three Months Ended
September 30, 2023
Average
Balance		Interest Income/
Expense		Average Yield/
Rate		Average
Balance		Interest Income/
Expense		Average Yield/
Rate		Average
Balance		Interest Income/
Expense		Average Yield/
Rate
Noninterest-bearing deposits
344,577 303,199 183,728 
Other liabilities225,467 215,608 271,118 
Total liabilities$9,093,742 $8,122,192 $7,120,161 
Total equity$1,307,521 $1,266,608 $1,213,007 
Total liabilities and equity$10,401,263 $9,388,800 $8,333,168 
Interest rate spread4.98 %5.00 %6.28 %
Net interest income and net interest margin$140,241 5.63 %$128,528 5.75 %$137,005 6.91 %
(1)    Nonaccrual loans and any related income are included in their respective loan categories.
(2)    Prior period amounts have been reclassified to conform to the current period presentation.

An analysis of the sequential and year-over-year changes in the categories of interest revenue and interest expense resulting from changes in volume and rate is as follows:
Three Months Ended September 30, 2024
Compared to
Three Months Ended June 30, 2024
Increase (Decrease) Due to Change in:
Average Volume(1)
Average
Yield/Rate(1)
Total
Interest-earning assets
Cash, cash equivalents, restricted cash and other$(486)$(240)$(726)
Securities available for sale at fair value11,074 (1,477)9,597 
Loans held for sale at fair value2,016 1,589 3,605 
Loans and leases held for investment at amortized cost(6,892)861 (6,031)
Loans held for investment at fair value
16,155 (1,857)14,298 
Total increase (decrease) in interest income on interest-earning assets
$21,867 $(1,124)$20,743 
Interest-bearing liabilities
Checking and money market accounts$59 $3 $62 
Savings accounts and certificates of deposit7,005 (397)6,608 
Interest-bearing deposits7,064 (394)6,670 
Other interest-bearing liabilities
3,182 (822)2,360 
Total increase (decrease) in interest expense on interest-bearing liabilities
$10,246 $(1,216)$9,030 
Increase in net interest income
$11,621 $92 $11,713 
(1)    Volume and rate changes have been allocated on a consistent basis using the respective percentage changes in average balances and average rates.
66

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
Three Months Ended September 30, 2024
Compared to
Three Months Ended September 30, 2023
Increase (Decrease) Due to Change in:
Average Volume(1)
Average
Yield/Rate(1)
Total
Interest-earning assets
Cash, cash equivalents, restricted cash and other$(4,100)$(256)$(4,356)
Securities available for sale at fair value42,036 973 43,009 
Loans held for sale at fair value20,679 65 20,744 
Loans and leases held for investment at amortized cost(37,724)(2,448)(40,172)
Loans held for investment at fair value (2)
16,250 (2,510)13,740 
Total increase (decrease) in interest income on interest-earning assets
$37,141 $(4,176)$32,965 
Interest-bearing liabilities
Checking and money market accounts$(1,462)$2,067 $605 
Savings accounts and certificates of deposit19,097 7,652 26,749 
Interest-bearing deposits17,635 9,719 27,354 
Other interest-bearing liabilities (2)
3,488 (1,113)2,375 
Total increase in interest expense on interest-bearing liabilities
$21,123 $8,606 $29,729 
Increase (decrease) in net interest income
$16,018 $(12,782)$3,236 
(1)    Volume and rate changes have been allocated on a consistent basis using the respective percentage changes in average balances and average rates.
(2)    Prior period amounts have been reclassified to conform to the current period presentation.

67

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
Nine Months Ended
September 30, 2024		Nine Months Ended
September 30, 2023
Average
Balance		Interest Income/
Expense		Average Yield/
Rate		Average
Balance		Interest Income/
Expense		Average Yield/
Rate
Interest-earning assets (1)
Cash, cash equivalents, restricted cash and other$1,044,063 $42,113 5.38 %$1,327,592 $49,646 4.99 %
Securities available for sale at fair value2,477,631 130,702 7.03 %468,189 19,315 5.50 %
Loans held for sale at fair value735,551 71,746 13.01 %168,495 19,772 15.65 %
Loans and leases held for investment at amortized cost:
Unsecured personal loans
3,267,988 327,771 13.37 %4,228,891 421,066 13.28 %
Commercial and other consumer loans (2)
1,090,368 48,229 5.90 %1,159,691 50,446 5.80 %
Loans and leases held for investment at amortized cost4,358,356 376,000 11.50 %5,388,582 471,512 11.67 %
Loans held for investment at fair value (2)
539,223 46,801 11.57 %655,415 64,066 13.03 %
Total loans and leases held for investment (2)
4,897,579 422,801 11.51 %6,043,997 535,578 11.82 %
Total interest-earning assets9,154,824 667,362 9.72 %8,008,273 624,311 10.39 %
Cash and due from banks and restricted cash51,792 73,171 
Allowance for loan and lease losses(254,102)(349,049)
Other non-interest earning assets629,288 681,841 
Total assets$9,581,802 $8,414,236 
Interest-bearing liabilities
Interest-bearing deposits:
Checking and money market accounts$1,081,601 $29,641 3.66 %$1,432,912 $24,869 2.32 %
Savings accounts and certificates of deposit6,489,530 241,378 4.97 %5,219,587 164,434 4.21 %
Interest-bearing deposits
7,571,131 271,019 4.78 %6,652,499 189,303 3.80 %
Other interest-bearing liabilities (2)
191,061 4,686 3.28 %84,265 4,647 7.37 %
Total interest-bearing liabilities7,762,192 275,705 4.74 %6,736,764 193,950 3.85 %
Noninterest-bearing deposits
321,819 210,264 
Other liabilities220,558 269,068 
Total liabilities$8,304,569 $7,216,096 
Total equity$1,277,233 $1,198,140 
Total liabilities and equity$9,581,802 $8,414,236 
Interest rate spread4.98 %6.55 %
Net interest income and net interest margin$391,657 5.70 %$430,361 7.17 %
(1)    Nonaccrual loans and any related income are included in their respective loan categories.
(2)    Prior period amounts have been reclassified to conform to the current period presentation.













68

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
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:
Nine Months Ended September 30, 2024
Compared to
Nine Months Ended September 30, 2023
Increase (Decrease) Due to Change in:
Average Volume(1)
Average
Yield/Rate(1)
Total
Interest-earning assets
Cash, cash equivalents, restricted cash and other$(11,211)$3,678 $(7,533)
Securities available for sale at fair value104,595 6,792 111,387 
Loans held for sale at fair value55,848 (3,874)51,974 
Loans and leases held for investment at amortized cost(88,966)(6,546)(95,512)
Loans held for investment at fair value (2)
(10,578)(6,687)(17,265)
Total increase (decrease) in interest income on interest-earning assets
$49,688 $(6,637)$43,051 
Interest-bearing liabilities
Checking and money market accounts$(7,162)$11,934 $4,772 
Savings accounts and certificates of deposit44,268 32,676 76,944 
Interest-bearing deposits37,106 44,610 81,716 
Other interest-bearing liabilities (2)
3,628 (3,589)39 
Total increase in interest expense on interest-bearing liabilities
$40,734 $41,021 $81,755 
Increase (decrease) in net interest income
$8,954 $(47,658)$(38,704)
(1)    Volume and rate changes have been allocated on a consistent basis using the respective percentage changes in average balances and average rates.
(2)    Prior period amounts have been reclassified to conform to the current period presentation.
69

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
Provision for Credit Losses

The allowance for loan and lease losses (ALLL) for lifetime expected losses under CECL on HFI loans and leases at amortized cost is initially recognized as “Provision for credit losses” at the time of origination. The ALLL is estimated using a discounted cash flow (DCF) approach, where effective interest rates are used to calculate the NPV of expected cash flows. The effective interest rates are calculated based on the periodic interest income received from the loan’s contractual cash flows and the net investment in the loan, which includes deferred origination fees and costs, to provide a constant rate of return over the loan term. The NPV from the DCF approach is then compared to the amortized cost basis of the loans and leases to derive expected credit losses. Under the DCF approach, the provision for credit losses in subsequent periods includes a credit loss expense related to the discounting effect due to the passage of time after the initial recognition of ALLL on originated HFI loans at amortized cost.

The provision for credit losses includes the credit loss expense for HFI loans and leases at amortized cost, available for sale (AFS) securities and unfunded lending commitments. The table below illustrates the composition of the provision for credit losses for each period presented, as well as the loan originations held for investment in each period, which is a key driver for credit loss expense:
Three Months EndedNine Months Ended September 30,
September 30,
2024		June 30,
2024		September 30,
2023		20242023
Credit loss expense for loans and leases held for investment$47,460 $36,577 $64,127 $113,283 $201,167 
Credit loss expense (benefit) for securities available for sale
180 (809)— 2,263 — 
Credit loss expense (benefit) for unfunded lending commitments
(99)(207)352 (517)491 
Total provision for credit losses$47,541 $35,561 $64,479 $115,029 $201,658 
Loan originations held for investment$509,569 $335,646 $326,290 $1,130,537 $1,985,659 

Sequential: The provision for credit losses was $47.5 million and $35.6 million for the third and second quarters of 2024, respectively, an increase of 34%. The increase was primarily driven by an increase in initial provision from a higher volume of originated loans retained as HFI at amortized cost, partially offset by the impact of a $5.3 million provision in our Commercial Real Estate (CRE) portfolio due to one office loan, which was recognized in the second quarter of 2024. Excluding this one office loan, the CRE office loan portfolio balance was under $35 million as of September 30, 2024. The majority of office loans were originated prior to the Acquisition.

Year Over Year: The provision for credit losses was $47.5 million and $64.5 million for the third quarters of 2024 and 2023, respectively, a decrease of 26%. The decrease was primarily driven by a higher quantitative and qualitative allowance in the third quarter of 2023 due to an increase in expected losses and a less favorable economic outlook, partially offset by an increase in the initial provision for credit losses from a higher volume of originated loans retained as HFI at amortized cost.

Nine Months Over Nine Months: The provision for credit losses was $115.0 million and $201.7 million for the first nine months of 2024 and 2023, respectively, a decrease of 43%. The decrease was primarily driven by a decrease in the initial provision for credit losses from a lower volume of originated loans retained as HFI at amortized cost.


70

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
Allowance for Credit Losses

The activity in the allowance for credit losses (ACL) was as follows:
Three Months EndedNine Months Ended September 30,
September 30,
2024		June 30,
2024		September 30,
2023		20242023
Allowance for loan and lease losses, beginning of period$228,909 $259,150 $355,163 $310,387 $327,852 
Credit loss expense for loans and leases held for investment47,460 36,577 64,127 113,283 201,167 
Charge-offs(69,109)(78,088)(74,178)(237,539)(191,010)
Recoveries13,304 11,270 5,383 34,433 12,486 
Allowance for loan and lease losses, end of period
$220,564 $228,909 $350,495 $220,564 $350,495 
Allowance for securities available for sale, beginning of period$2,083 $2,892 $— $— $— 
Credit loss expense (benefit) for securities available for sale
180 (809)— 2,263 — 
Allowance for securities available for sale, end of period$2,263 $2,083 $— $2,263 $— 
Reserve for unfunded lending commitments, beginning of period$1,455 $1,662 $2,017 $1,873 $1,878 
Credit loss expense (benefit) for unfunded lending commitments
(99)(207)352 (517)491 
Reserve for unfunded lending commitments, end of period (1)
$1,356 $1,455 $2,369 $1,356 $2,369 
(1)    Relates to $105.3 million, $91.5 million and $89.5 million of unfunded commitments as of September 30, 2024, June 30, 2024 and September 30, 2023, respectively. As of September 30, 2024, $11.4 million of the $105.3 million of unfunded commitments is unconditionally cancellable and therefore has no associated reserve.

The following table presents the components of the allowance for loan and lease losses:
September 30,
2024		June 30,
2024		September 30,
2023
Gross allowance for loan and lease losses (1)
$274,538 $285,368 $388,156 
Recovery asset value (2)
(53,974)(56,459)(37,661)
Allowance for loan and lease losses$220,564 $228,909 $350,495 
(1)    Represents the allowance for future estimated net charge-offs on existing portfolio balances.
(2)    Represents a negative allowance for expected recoveries of amounts previously charged-off.

71

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
September 30,
2024		June 30,
2024		September 30,
2023
Total loans and leases held for investment$4,108,329 $4,228,391 $5,237,277 
Allowance for loan and lease losses
$220,564 $228,909 $350,495 
Allowance ratio (1)
5.4 %5.4 %6.7 %
Gross allowance for loan and lease losses
$274,538 $285,368 $388,156 
Gross allowance ratio (1)
6.7 %6.7 %7.4 %
(1)    Calculated as ALLL or gross ALLL, where applicable, to total loans and leases held for investment at amortized cost.

Net Charge-Offs

The following table presents information regarding average loan and lease balances, net charge-offs and the annualized ratio of net charge-offs to average outstanding loans and leases HFI at amortized cost, net, during the period:
Three Months EndedNine Months Ended September 30,
September 30,
2024		June 30,
2024		September 30,
2023		20242023
Average loans and leases held for investment at amortized cost
$4,102,838$4,341,007$5,404,490$4,358,356$5,388,582
Net charge-offs
$55,805$66,818$68,795$203,106$178,524
Net charge-off ratio
5.4 %6.2 %5.1 %6.2 %4.4 %

Nonaccrual

Loans and leases are generally placed on nonaccrual status when contractually past due 90 days or more, or earlier if management believes that the probability of collection does not warrant further accrual. Unsecured personal loans are charged-off no later than 120 days past due.

The following table presents information regarding total nonaccrual loans and leases:
September 30,
2024		June 30,
2024		September 30,
2023
Nonaccrual loans and leases held for investment at amortized cost
$64,958 $65,146 $49,999 
% of total loans and leases held for investment
1.6 %1.5 %1.0 %

For additional information on the ACL and nonaccrual loans and leases, see “Item 8. Financial Statements and Supplementary Data – Notes to Consolidated Financial Statements – Note 1. Summary of Significant Accounting Policies” in our Annual Report and “Note 5. Loans and Leases Held for Investment at Amortized Cost, Net of Allowance for Loan and Lease Losses” in this Report.

72

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
Non-Interest Expense

Non-interest expense primarily consists of (i) compensation and benefits, which include salaries and wages, benefits and stock-based compensation expense, (ii) marketing, which includes costs attributable to borrower and deposit customer acquisition efforts and building general brand awareness, (iii) equipment and software, (iv) depreciation and amortization, (v) professional services, which primarily consist of consulting fees, and (vi) occupancy, which includes rent expense and all other costs related to occupying our office spaces.
Three Months EndedChange (%)
September 30,
2024		June 30,
2024		September 30,
2023		Q3 2024
vs
Q2 2024
Q3 2024
vs
Q3 2023
Non-interest expense:
Compensation and benefits$57,408 $56,540 $58,497 2 %(2)%
Marketing26,186 26,665 19,555 (2)%34 %
Equipment and software12,789 12,360 12,631 3 %1 %
Depreciation and amortization13,341 13,072 11,250 2 %19 %
Professional services8,014 7,804 8,414 3 %(5)%
Occupancy4,005 3,941 4,612 2 %(13)%
Other non-interest expense14,589 11,876 13,076 23 %12 %
Total non-interest expense$136,332 $132,258 $128,035 3 %6 %

Nine Months Ended September 30,
20242023Change (%)
Non-interest expense:
Compensation and benefits$173,502 $203,357 (15)%
Marketing76,987 70,375 9 %
Equipment and software37,833 40,295 (6)%
Depreciation and amortization39,086 35,242 11 %
Professional services22,909 27,446 (17)%
Occupancy11,807 13,606 (13)%
Other non-interest expense38,699 46,101 (16)%
Total non-interest expense$400,823 $436,422 (8)%

Compensation and Benefits

Sequential: Compensation and benefits expense increased $0.9 million, or 2%, for the third quarter of 2024 compared to the second quarter of 2024.

Year Over Year: Compensation and benefits expense decreased $1.1 million, or 2%, for the third quarter of 2024 compared to the same period in 2023.

Nine Months Over Nine Months: Compensation and benefits expense decreased $29.9 million, or 15%, for the first nine months of 2024 compared to the same period in 2023. The decrease was primarily due to a decrease in headcount as a result of the workforce reduction plans we implemented in 2023.

73

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
Marketing

Sequential: Marketing expense decreased $0.5 million, or 2%, for the third quarter of 2024 compared to the second quarter of 2024.

Year Over Year: Marketing expense increased $6.6 million, or 34%, for the third quarter of 2024 compared to the same period in 2023.

Nine Months Over Nine Months: Marketing expense increased $6.6 million, or 9%, for the first nine months of 2024 compared to the same period in 2023.

The increases year over year and nine months over nine months in marketing expense were primarily due to an increase in variable marketing expenses based on higher origination volume of marketplace loans.

Equipment and Software

Sequential: Equipment and software expense increased $0.4 million, or 3%, for the third quarter of 2024 compared to the second quarter of 2024.

Year Over Year: Equipment and software expense increased $0.2 million, or 1%, for the third quarter of 2024 compared to the same period in 2023.

Nine Months Over Nine Months: Equipment and software expense decreased $2.5 million, or 6%, for the first nine months of 2024 compared to the same period in 2023. The decrease was primarily due to a decrease in software license expense.

Depreciation and Amortization

Sequential: Depreciation and amortization expense increased $0.3 million, or 2%, for the third quarter of 2024 compared to the second quarter of 2024.

Year Over Year: Depreciation and amortization expense increased $2.1 million, or 19%, for the third quarter of 2024 compared to the same period in 2023.

Nine Months Over Nine Months: Depreciation and amortization expense increased $3.8 million, or 11%, for the first nine months of 2024 compared to the same period in 2023.

The increases in depreciation and amortization expense were primarily due to an increase in the amortization of internally-developed software.

Professional Services

Sequential: Professional services increased $0.2 million, or 3%, for the third quarter of 2024 compared to the second quarter of 2024.

Year Over Year: Professional services decreased $0.4 million, or 5%, for the third quarter of 2024 compared to the same period in 2023.

Nine Months Over Nine Months: Professional services decreased $4.5 million, or 17%, for the first nine months of 2024 compared to the same period in 2023.
74

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)

The changes in professional services expense were primarily due to an increase or decrease in consulting fees.

Occupancy

Sequential: Occupancy expense increased $0.1 million, or 2%, for the third quarter of 2024 compared to the second quarter of 2024.

Year Over Year: Occupancy expense decreased $0.6 million, or 13%, for the third quarter of 2024 compared to the same period in 2023.

Nine Months Over Nine Months: Occupancy expense decreased $1.8 million, or 13%, for the first nine months of 2024 compared to the same period in 2023.

The year over year and nine months over nine months decreases in occupancy expense were primarily due to a decrease in rent expense.

Other non-interest expense

Sequential: Other non-interest expense increased $2.7 million, or 23%, for the third quarter of 2024 compared to the second quarter of 2024.

Year Over Year: Other non-interest expense increased $1.5 million, or 12%, for the third quarter of 2024 compared to the same period in 2023.

Nine Months Over Nine Months: Other non-interest expense decreased $7.4 million, or 16%, for the first nine months of 2024 compared to the same period in 2023.

The changes in other non-interest expense were primarily due to increases or decreases in miscellaneous operating expenses.

Income Taxes

For the third quarter and first nine months of 2024, we recorded an income tax expense of $3.6 million and $12.3 million, respectively, representing an effective tax rate of 19.7% and 22.9%, respectively. For the third quarter and first nine months of 2023, we recorded an income tax expense of $3.3 million and $12.1 million, respectively, representing an effective tax rate of 39.9% and 29.7%, respectively. The effective tax rate differs from the statutory rate due to the favorable impact of recurring items such as tax credits, the unfavorable impact of the non-deductible portions of executive compensation, and the net discrete impact of stock-based compensation. The decrease in effective tax rates for the 2024 periods compared to the same periods in 2023 is primarily due to the net discrete impact of stock-based compensation.

As of September 30, 2024, we maintained a valuation allowance of $46.4 million related to certain state net operating loss carryforwards (NOLs) and state tax credit carryforwards. The realization and timing of any remaining state NOLs and state tax credit carryforwards is uncertain and may expire before being utilized, based primarily on the allocation of taxable income constraints to the Parent and not related to the earnings of the Company. Changes to deferred tax asset valuation allowances and liabilities related to uncertain tax positions are recorded as current period income tax expense or benefit.

75

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
Income taxes are recorded on a separate entity basis whereby each operating segment determines income tax expense or benefit as if it filed a separate tax return. Differences between separate entity and consolidated tax returns are eliminated upon consolidation.

Segment Information

The Company defines operating segments to be components of the Company for which discrete financial information is evaluated regularly by the Company’s Chief Executive Officer and Chief Financial Officer to allocate resources and evaluate financial performance. This information is reviewed according to the legal organizational structure of the Company’s operations with products and services presented separately for the parent bank holding company and its wholly-owned subsidiary, LC Bank.

LendingClub Bank

The LC Bank operating segment represents the national bank legal entity and reflects post-Acquisition operating activities. This segment provides a full complement of financial products and solutions, including loans, leases and deposits. It originates loans to individuals and businesses, retains loans for investment, sells loans to investors and manages relationships with deposit holders.

LendingClub Corporation (Parent Only)

The LendingClub Corporation (Parent only) operating segment represents the holding company legal entity and predominately reflects the operations of the Company prior to the Acquisition. This activity includes, but is not limited to, servicing fee revenue on purchased servicing assets, and interest income and interest expense related to the Retail Program and Structured Program transactions entered into prior to the Acquisition.

76

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
Financial information for the segments is presented in the following table:
LendingClub
Bank		LendingClub
Corporation
(Parent only)		Intercompany
Eliminations		Consolidated Total
Three Months Ended September 30,Three Months Ended September 30,Three Months Ended September 30,Three Months Ended September 30,
 20242023202420232024202320242023
Non-interest income:
Marketplace revenue$42,583 $37,439 $9,125 $12,320 $6,676 $11,127 $58,384 $60,886 
Other non-interest income13,047 18,783 2,793 2,478 (12,584)(18,303)3,256 2,958 
Total non-interest income55,630 56,222 11,918 14,798 (5,908)(7,176)61,640 63,844 
Interest income:
Interest income239,880 203,961 497 3,451 — — 240,377 207,412 
Interest expense(100,005)(69,517)(131)(890)— — (100,136)(70,407)
Net interest income139,875 134,444 366 2,561 — — 140,241 137,005 
Total net revenue195,505 190,666 12,284 17,359 (5,908)(7,176)201,881 200,849 
Provision for credit losses(47,541)(64,463)— (16)— — (47,541)(64,479)
Non-interest expense(129,685)(122,142)(12,555)(13,069)5,908 7,176 (136,332)(128,035)
Income (Loss) before income tax benefit (expense)
18,279 4,061 (271)4,274 — — 18,008 8,335 
Income tax benefit (expense) (3,657)(2,380)106 (947)— — (3,551)(3,327)
Net income (loss)
$14,622 $1,681 $(165)$3,327 $— $— $14,457 $5,008 
Capital expenditures$12,436 $15,984 $— $— $— $— $12,436 $15,984 
Depreciation and amortization$11,278 $7,579 $2,063 $3,671 $— $— $13,341 $11,250 
77

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
LendingClub
Bank		LendingClub
Corporation
(Parent only)		Intercompany
Eliminations		Consolidated Total
Nine Months Ended September 30,Nine Months Ended September 30,Nine Months Ended September 30,Nine Months Ended September 30,
20242023202420232024202320242023
Non-interest income:
Marketplace revenue$120,631 $172,133 $29,899 $33,200 $20,098 $33,970 $170,628 $239,303 
Other non-interest income39,129 59,687 6,642 7,462 (38,246)(57,800)7,525 9,349 
Total non-interest income159,760 231,820 36,541 40,662 (18,148)(23,830)178,153 248,652 
Interest income:
Interest income662,501 612,805 4,861 11,506 — — 667,362 624,311 
Interest expense(275,016)(189,959)(689)(3,991)— — (275,705)(193,950)
Net interest income387,485 422,846 4,172 7,515 — — 391,657 430,361 
Total net revenue547,245 654,666 40,713 48,177 (18,148)(23,830)569,810 679,013 
Provision for credit losses(115,029)(201,658)— — — — (115,029)(201,658)
Non-interest expense(383,038)(413,088)(35,933)(47,164)18,148 23,830 (400,823)(436,422)
Income before income tax expense
49,178 39,920 4,780 1,013 — — 53,958 40,933 
Income tax expense
(11,214)(12,065)(1,134)(84)— — (12,348)(12,149)
Net income
$37,964 $27,855 $3,646 $929 $— $— $41,610 $28,784 
Capital expenditures$37,082 $48,239 $— $— $— $— $37,082 $48,239 
Depreciation and amortization$32,340 $21,546 $6,746 $13,696 $— $— $39,086 $35,242 

The material drivers and trends of the financial results of the segments presented above are consistent with those provided on a consolidated basis in "Results of Operations."

Non-GAAP Financial Measures

To supplement our financial statements, which are prepared and presented in accordance with GAAP, we use the following non-GAAP financial measures: Pre-Provision Net Revenue (PPNR) and Tangible Book Value (TBV) Per Common Share. Our non-GAAP financial measures do have limitations as analytical tools and you should not consider them in isolation or as a substitute for an analysis of our results under GAAP.

We believe these non-GAAP financial measures provide management and investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and enable comparison of our financial results with other public companies.

We believe PPNR is an important measure because it reflects the underlying financial performance of our business operations. PPNR is a non-GAAP financial measure calculated by subtracting the provision for credit losses and income tax benefit/expense from net income.

We believe TBV Per Common Share is an important measure used to evaluate the Company’s use of equity. TBV Per Common Share is a non-GAAP financial measure representing the book value of common equity reduced by goodwill and intangible assets, divided by ending number of common shares issued and outstanding.

78

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
The following tables provide a reconciliation of PPNR to the nearest GAAP measure:
Three Months EndedNine Months Ended
September 30, 2024June 30, 2024September 30, 2023September 30, 2024September 30, 2023
GAAP Net income$14,457 $14,903 $5,008 $41,610 $28,784 
Less: Provision for credit losses(47,541)(35,561)(64,479)(115,029)(201,658)
Less: Income tax expense
(3,551)(4,519)(3,327)(12,348)(12,149)
Pre-provision net revenue$65,549 $54,983 $72,814 $168,987 $242,591 

Three Months EndedNine Months Ended
September 30, 2024June 30, 2024September 30, 2023September 30, 2024September 30, 2023
Non-interest income$61,640 $58,713 $63,844 $178,153 $248,652 
Net interest income140,241 128,528 137,005 391,657 430,361 
Total net revenue201,881 187,241 200,849 569,810 679,013 
Non-interest expense(136,332)(132,258)(128,035)(400,823)(436,422)
Pre-provision net revenue65,549 54,983 72,814 168,987 242,591 
Provision for credit losses(47,541)(35,561)(64,479)(115,029)(201,658)
Income before income tax expense
18,008 19,422 8,335 53,958 40,933 
Income tax expense
(3,551)(4,519)(3,327)(12,348)(12,149)
GAAP Net income$14,457 $14,903 $5,008 $41,610 $28,784 

The following table provides a reconciliation of TBV Per Common Share to the nearest GAAP measure:
As ofSeptember 30,
2024		June 30,
2024		September 30,
2023
GAAP common equity$1,342,895 $1,287,945 $1,208,219 
Less: Goodwill(75,717)(75,717)(75,717)
Less: Intangible assets(9,439)(10,293)(13,151)
Tangible common equity$1,257,739 $1,201,935 $1,119,351 
Book value per common share
GAAP common equity$1,342,895 $1,287,945 $1,208,219 
Common shares issued and outstanding112,401,990 111,812,215 109,648,769 
Book value per common share$11.95 $11.52 $11.02 
Tangible book value per common share
Tangible common equity$1,257,739 $1,201,935 $1,119,351 
Common shares issued and outstanding112,401,990 111,812,215 109,648,769 
Tangible book value per common share$11.19 $10.75 $10.21 

Supervision and Regulatory Environment

We are subject to periodic exams, investigations, inquiries or requests, enforcement actions and other proceedings from federal and state regulatory and/or law enforcement agencies, including the federal banking regulators that directly regulate the Company and/or LC Bank. Further, we are subject to claims, individual and class action lawsuits, and lawsuits alleging regulatory violations. Although historically the Company has generally resolved
79

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
these matters in a manner that was not materially adverse to its financial results or business operations, no assurance can be given as to the timing, outcome or consequences of any of these matters in the future.

We are subject to supervision, regulation, examination and enforcement by multiple federal banking regulatory bodies. Specifically, as a bank holding company, the Company is subject to ongoing and comprehensive supervision, regulation, examination and enforcement by the Board of Governors of the Federal Reserve System (FRB). Further, as a national bank, LC Bank is subject to ongoing and comprehensive supervision, regulation, examination and enforcement by the Office of the Comptroller of the Currency (OCC). Accordingly, we have been and continue to invest in regulatory compliance and be subject to certain parameters, obligations and/or limitations set forth by the banking regulations and regulators with respect to the operation of our business.

If we are found to not have complied with applicable laws, regulations or requirements, we could: (i) lose one or more of our licenses or authorizations, or be required to obtain a new license or authorization, (ii) become subject to a consent order or administrative enforcement action, (iii) face lawsuits (including class action lawsuits), sanctions, penalties, or other monetary losses due to judgments, orders, or settlements, (iv) be in breach of certain contracts, which may void or cancel such contracts, (v) decide or be compelled to modify or suspend certain of our business practices and/or (vi) be unable to execute on certain Company initiatives, which may have an adverse effect on our ability to operate and/or evolve our lending marketplace and other products and/or services; any of which may harm our business or financial results.

See “Part I – Item 1. Business – Regulation and Supervision,” “Part I – Item 1A. Risk Factors – Risks Related to Regulation, Supervision and Compliance,” and “Part I – Item 1A. Risk Factors – Risks Related to Operating Our Business” in our Annual Report for further discussion regarding our supervision and regulatory environment.

Capital Management

The prudent management of capital is fundamental to the successful achievement of our business initiatives. We actively review capital through a process that continuously assesses and monitors the Company’s overall capital adequacy. Our objective is to maintain capital at an amount commensurate with our risk profile and risk tolerance objectives, and to meet both regulatory and market expectations.

The formation of LC Bank as a nationally chartered association and the organization of the Company as a bank holding company subjects us to various capital adequacy guidelines issued by the OCC and the FRB, including the requirement to maintain regulatory capital ratios in accordance with the Basel Committee on Banking Supervision standardized approach for U.S. banking organizations (Basel III). As a Basel III standardized approach institution, we selected the one-time election to opt-out of the requirements to include all the components of accumulated other comprehensive income included in common stockholder’s equity. The minimum capital requirements under the Basel III capital framework are: a Common Equity Tier 1 (CET1) risk-based capital ratio of 4.5%, a Tier 1 risk-based capital ratio of 6.0%, a total risk-based capital ratio of 8.0%, and a Tier 1 leverage ratio of 4.0%. Additionally, a Capital Conservation Buffer (CCB) of 2.5% must be maintained above the minimum risk-based capital requirements in order to avoid certain limitations on capital distributions, stock repurchases, and certain discretionary bonus payments. In addition to these guidelines, the banking regulators may require a banking organization to maintain capital at levels higher than the minimum ratios prescribed under the Basel III capital framework. See “Part I – Item 1. Business – Regulation and Supervision – Capital and Liquidity Requirements and Prompt Corrective Action” in our Annual Report and “Notes to Condensed Consolidated Financial Statements – Note 19. Regulatory Requirements” in this Report for additional information.

80

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
The following table summarizes the Company’s and LC Bank’s regulatory capital amounts (in millions) and ratios:
September 30, 2024December 31, 2023
Required Minimum plus Required CCB for
Non-Leverage Ratios
AmountRatioAmountRatio
LendingClub Corporation:
CET1 capital (1)
$1,157.2 15.9 %$1,090.2 17.9 %7.0 %
Tier 1 capital$1,157.2 15.9 %$1,090.2 17.9 %8.5 %
Total capital$1,249.8 17.1 %$1,169.2 19.2 %10.5 %
Tier 1 leverage$1,157.2 11.3 %$1,090.2 12.9 %4.0 %
Risk-weighted assets$7,289.3 N/A$6,104.5 N/AN/A
Quarterly adjusted average assets$10,270.0 N/A$8,476.1 N/AN/A
LendingClub Bank:
CET1 capital (1)
$1,050.8 14.5 %$949.4 15.8 %7.0 %
Tier 1 capital$1,050.8 14.5 %$949.4 15.8 %8.5 %
Total capital$1,142.8 15.8 %$1,027.4 17.1 %10.5 %
Tier 1 leverage$1,050.8 10.3 %$949.4 11.4 %4.0 %
Risk-weighted assets$7,235.1 N/A$6,022.2 N/AN/A
Quarterly adjusted average assets$10,195.1 N/A$8,337.4 N/AN/A
N/A – Not applicable
(1)    Consists of common stockholders’ equity as defined under U.S. GAAP and certain adjustments made in accordance with regulatory capital guidelines, including the addition of the CECL transitional benefit and deductions for goodwill and other intangible assets.

The higher risk-based capital ratios for the Company reflect generally lower risk-weights for assets held by LendingClub Corporation as compared with LC Bank.

In response to the COVID-19 pandemic, the FRB, OCC, and FDIC adopted a final rule related to the regulatory capital treatment of the allowance for credit losses under CECL. As permitted by the rule, the Company elected to delay the estimated impact of CECL on regulatory capital resulting in a capital benefit of $35 million at December 31, 2021. This benefit is phased out over a three-year transition period that commenced on January 1, 2022 at a rate of 25% each year through January 1, 2025.

Liquidity

We manage liquidity to meet our cash flow and collateral obligations in a timely manner at a reasonable cost. We must maintain operating liquidity to meet our expected daily and forecasted cash flow requirements, as well as contingent liquidity to meet unexpected funding requirements.

As our primary business at LC Bank involves taking deposits and originating loans, a key role of liquidity management is to ensure that customers have timely access to funds from deposits and for loans. Liquidity management also involves maintaining sufficient liquidity to repay borrowings, pay operating expenses and support extraordinary funding requirements when necessary.

81

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
LendingClub Bank Liquidity

The following table summarizes LC Bank’s primary sources of short-term liquidity as of the periods presented:
September 30, 2024December 31, 2023
Cash and cash equivalents$989,612 $1,230,206 
Securities available for sale (1)
$388,679 $370,466 
Deposits$9,532,342 $7,426,445 
Available borrowing capacity:
FRB Discount Window borrowing capacity
$2,942,472 $2,816,501 
FHLB of Des Moines borrowing capacity (2)
$663,439 $661,337 
Total available borrowing capacity$3,605,911 $3,477,838 
(1)    Excludes illiquid securities available for sale.
(2)    Includes both loans and securities available for sale pledged as collateral.

The primary uses of LC Bank liquidity include the funding/acquisition of loans and securities purchases; withdrawals, maturities and the payment of interest on deposits; compensation and benefits expense; taxes; capital expenditures, including internally developed software, leasehold improvements and computer equipment; and costs associated with the continued development and support of our online lending marketplace platform.

Net capital expenditures were $37.1 million, or 6.8% of total net revenue, and $48.2 million, or 7.4% of total net revenue, for the first nine months of 2024 and 2023, respectively. Capital expenditures in 2024 are expected to be approximately $60 million, primarily related to costs associated with the continued development and support of our online lending marketplace platform.

LendingClub Holding Company Liquidity

The primary source of liquidity at the holding company is $90.0 million and $110.3 million in cash and cash equivalents as of September 30, 2024 and December 31, 2023, respectively. Additionally, the holding company has the ability to access the capital markets through additional registrations and public equity offerings.

Uses of cash at the holding company include the routine cash flow requirements as a bank holding company, such as interest and expenses (including those associated with our office leases), the needs of LC Bank for additional equity and, as required, its need for debt financing and support for extraordinary funding requirements when necessary.

Factors Impacting Liquidity

The Company’s liquidity could be adversely impacted by deteriorating financial and market conditions, the inability or unwillingness of a creditor to provide funding, an idiosyncratic event (e.g., a major loss, causing a perceived or actual deterioration in its financial condition), an adverse systemic event (e.g., default or bankruptcy of a significant capital markets participant), or others.

We believe, based on our projections, that our cash on hand, liquid AFS securities, available borrowing capacity, and net cash flows from operating, investing and financing activities are sufficient to meet our liquidity needs for the next twelve months, as well as beyond the next twelve months. See “Item 1. Financial Statements – Condensed Consolidated Statements of Cash Flows” for additional detail regarding our cash flows.

82

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
Market Risk

Market risk represents the risk of potential losses arising from changes in interest rates, foreign exchange rates, equity prices, commodity prices, and/or other relevant market rates or prices. The primary market risk to which we are exposed is interest rate risk. Interest rate risk arises from financial instruments including loans, securities and borrowings, all entered into for purposes other than trading.

Interest Rate Sensitivity

LendingClub Bank

Our net interest income is affected by changes in the level of interest rates, the impact of interest rate fluctuations on asset prepayments, and the level and composition of deposits and liabilities, among other factors.

Loans HFI at LC Bank are funded primarily through our deposit base. The majority of loans HFI are fixed-rate instruments over the term of the loans. As a result, the primary component of interest rate risk on our financial instruments at LC Bank arises from the impact of fluctuations in loan and deposit rates on our net interest income. Therefore, we use a sensitivity analysis to assess the impact of hypothetical changes in interest rates on our net interest income results. The outcome of the analysis is influenced by a variety of assumptions, including the maturity profile and prepayment level of our unsecured consumer loans and expected consumer responses to changes in rates paid on non-maturity deposit products. Our assumptions are periodically calibrated to observed data and/or expected outcomes. We actively monitor the level of exposure to movements in interest rates and have entered into interest rate hedging instruments, some of which qualify for hedge accounting treatment, to manage such risk. See “Note 8. Derivative Instruments and Hedging Activities” for additional information.

The following table presents the change in projected net interest income for the next twelve months due to a hypothetical instantaneous parallel change in interest rates relative to current rates:
 September 30, 2024December 31, 2023
Instantaneous Change in Interest Rates:
 + 200 basis points(6.6)%(4.8)%
 + 100 basis points(3.2)%(2.2)%
 – 100 basis points1.2 %— %
 – 200 basis points1.9 %(0.4)%

As illustrated in the table above, net interest income is projected to decrease over the next twelve months during hypothetical rising interest rate environments primarily as a result of higher rates paid on interest-bearing deposits, partially offset by higher rates earned on new loans, investment purchases, and cash and cash equivalents as well as by the impact of our hedging activity. Conversely, net interest income is projected to increase over the next twelve months during hypothetical declining interest rate environments. The increase in sensitivity as of September 30, 2024 relative to December 31, 2023 is primarily due to the composition of our loans, deposits and hedging instruments and assumes no replacement of maturing interest rate hedges. Furthermore, during fluctuating interest rate environments, the increased sensitivity of repricing interest-bearing deposits is more impactful than that of repricing fixed-rate loans.

Although we believe that these measurements provide an estimate of our interest rate sensitivity, they do not account for potential changes in credit quality, balance sheet mix, size of our balance sheet, or other business developments that could affect net income. Actual results could differ materially from the estimated outcomes of our simulations.

83

LENDINGCLUB CORPORATION
Management’s Discussion and Analysis of Financial Condition and Results of Operations
(Tabular Amounts in Thousands, Except Share and Per Share Data and Ratios, or as Noted)
For additional details regarding maturities of loans and leases HFI, see “Part II – Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations – Market Risk” in our Annual Report.

For the contractual maturities and weighted-average yields on the Company’s AFS securities portfolio, see “Notes to Condensed Consolidated Financial Statements – Note 4. Securities Available for Sale.”

LendingClub Holding Company

At the holding company level, we continue to measure interest rate sensitivity by evaluating the change in fair value of certain assets and liabilities due to a hypothetical change in interest rates. Principal payments on our loans HFI continue to reduce the outstanding balance of this portfolio, and, as a result, the fair value impact from changes in interest rates continues to diminish.

Contingencies

For a comprehensive discussion of contingencies as of September 30, 2024, see “Item 1. Financial Statements – Notes to Condensed Consolidated Financial Statements – Note 18. Commitments and Contingencies.”

Critical Accounting Estimates

Certain of the Company’s accounting policies that involve a higher degree of judgment and complexity are discussed in “Part II – Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations – Critical Accounting Estimates” in our Annual Report. There have been no significant changes to these critical accounting estimates during the first nine months of 2024.

84

LENDINGCLUB CORPORATION

Item 3. Quantitative and Qualitative Disclosures About Market Risk

For a comprehensive discussion regarding quantitative and qualitative disclosures about market risk, see “Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations – Market Risk.”

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

The Company’s management evaluated, with the participation of the Company’s Chief Executive Officer (CEO) and Chief Financial Officer (CFO), the effectiveness of the Company’s disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) as of September 30, 2024. In designing and evaluating its disclosure controls and procedures, the Company’s management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance, not absolute assurance, of achieving the desired control objectives, and is required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures.

Based on the evaluation, the Company’s CEO and CFO concluded that the Company’s disclosure controls and procedures as of September 30, 2024, were designed and functioned effectively to provide reasonable assurance that the information required to be disclosed by the Company in reports filed under the Exchange Act is (i) recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms, and (ii) accumulated and communicated to management, including the principal executive and principal financial officers, as appropriate, to allow timely decisions regarding required disclosure.

Changes in Internal Control Over Financial Reporting

No change in the Company’s internal control over financial reporting (as defined in Rule 13a-15(f) under the Exchange Act) occurred during the third quarter of 2024, that has materially affected, or is reasonably likely to materially affect, the Company’s internal control over financial reporting.

PART II. OTHER INFORMATION

Item 1. Legal Proceedings

For a comprehensive discussion of legal proceedings, see “Part I. Financial Information – Item 1. Financial Statements – Notes to Condensed Consolidated Financial Statements – Note 18. Commitments and Contingencies – Legal,” which is incorporated herein by reference.

Item 1A. Risk Factors

The risks described in “Part I – Item 1A. Risk Factors” in our Annual Report, could materially and adversely affect our business, financial condition, operating results and prospects, and the trading price of our common stock could decline. While we believe the risks and uncertainties described therein include all material risks currently known by us, it is possible that these may not be the only ones we face. Due to risks and uncertainties, known and unknown, our past financial results may not be a reliable indicator of future performance and historical trends should not be used to anticipate results or trends in future periods. The Risk Factors section of our Annual Report remains current in all material respects.


85

LENDINGCLUB CORPORATION

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

Rule 10b5-1 Trading Plans


The following table shows the trading arrangements intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) adopted by the Company’s directors and executive officers during the third quarter of 2024:
Name and Title
Adoption Date
Expiration Date
Aggregate Number of Shares to be Sold
Jordan Cheng, General Counsel and Corporate Secretary
August 1, 2024
February 8, 2025
Up to 25,000

Other than disclosed above, during the third quarter of 2024, none of the Company’s directors or executive officers adopted or terminated any contract, instruction or written plan for the purchase or sale of the Company’s securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) or any “non-Rule 10b5-1 trading arrangement.”

In the Form 10-Q filed on May 1, 2024 (the May 2024 10-Q), the Company disclosed a Rule 10b5-1 Trading Plan entered into by Erin Selleck (the Selleck Trading Plan). The expiration date of the Selleck Trading Plan, per its original terms, is February 5, 2025, not January 31, 2025, as disclosed in the May 2024 10-Q.

86

LENDINGCLUB CORPORATION

Item 6. Exhibits

Exhibit Index

The exhibits noted in the accompanying Exhibit Index are filed or incorporated by reference as a part of this Report and such Exhibit Index is incorporated herein by reference.
Incorporated by Reference
Exhibit
Number		Exhibit DescriptionFormFile No.ExhibitFiling
Date		Filed Herewith
101.INSXBRL Instance Document‡X
101.SCHXBRL Taxonomy Extension Schema DocumentX
101.CALXBRL Taxonomy Extension Calculation LinkbaseX
101.DEFXBRL Taxonomy Extension Definition LinkbaseX
101.LABXBRL Taxonomy Extension Label LinkbaseX
101.PREXBRL Taxonomy Extension Presentation LinkbaseX
104Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)
‡    The instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

87

LENDINGCLUB CORPORATION

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
LENDINGCLUB CORPORATION
(Registrant)
Date:October 30, 2024/s/ SCOTT SANBORN
Scott Sanborn
Chief Executive Officer
Date:October 30, 2024/s/ ANDREW LABENNE
Andrew LaBenne
Chief Financial Officer

88