Archives

January 25, 2024 @ 3:35 pm By JD Alois  |  

While shares in digital bank LendingClub (NYSE: LC) have been a bit of a dog, some people see value in the future of the company. One big investor recently added shares to its holding. BlackRock recently filed an Amended Statement of Ownership showing an increase… Read More

December 19, 2023 @ 7:12 pm By Omar Faridi  |  

LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s digital marketplace bank, released key findings from the 29th edition of the Reality Check: Paycheck-To-Paycheck research series. The Credit Card Use Deep Dive Edition examines “the financial lifestyles of U.S. consumers and explores how… Read More

November 29, 2023 @ 1:12 pm By Omar Faridi  |  

LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s digital marketplace bank, released key findings from the Reality Check: Paycheck-To-Paycheck research series. The Holiday Shopping Deep Dive Edition examines “the financial lifestyles and spending choices of U.S. consumers going into the 2023 holiday… Read More

November 11, 2023 @ 12:10 pm By Omar Faridi  |  

LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s digital marketplace bank, announced it crossed $1 billion of personal loans sold through its Structured Loan Certificates Program (SLCLC Program). The company anticipates approximately $2 billion dollars of loan volume “through the SLCLC Program… Read More

October 31, 2023 @ 9:40 pm By Omar Faridi  |  

LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s leading digital marketplace bank, released key findings from the 27th edition of the Reality Check: Paycheck-To-Paycheck research series. The Savings Deep Dive Edition “examines consumers’ ability to preserve their savings in the current economic… Read More

October 25, 2023 @ 4:30 pm By JD Alois  |  

LendingClub (NYSE:LC), a digital bank with expertise in online lending, announced Q3 results today, reporting top line revenue of $200.8 million and net income of $5 million or EPS of $0.05. The top line number was a decline from $232.5 million in Q2 and when… Read More

October 12, 2023 @ 4:26 pm By JD Alois  |  

In a rather vague headline, digital bank and online lender LendingClub (NYSE:LC) says it is aligning its cost structure to the evolving macroeconomic environment. Scott Sanborn, LendingClub CEO, issued the following statement: “We continue to proactively implement various measures to navigate the persistent and ongoing… Read More

October 3, 2023 @ 4:07 pm By JD Alois  |  

LendingClub (NYSE:LC), the only pure-play digital bank that is publicly traded, is bouncing along its 52-week low as its shares troll under $6. Of course, the market is sinking today across the board as the reality of longer for higher sinks in. That – and… Read More

July 26, 2023 @ 10:27 pm By JD Alois  |  

LendingClub (NYSE: LC), a federally chartered digital bank, announced financial results for Q2 2023 today, delivering a positive earnings number while showing declines in both the top and bottom line. Total net revenue for Q2 was $232.5 million compared to $245.7 million during Q1. Total… Read More

April 30, 2023 @ 8:59 am By Omar Faridi  |  

LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s digital marketplace bank, recently announced financial results for the first quarter ended March 31, 2023. Scott Sanborn, LendingClub CEO, said: “We delivered a solid quarter driven by our strategic advantages, including over 15 years… Read More

April 24, 2023 @ 7:05 pm By JD Alois  |  

Digital bank LendingClub (NYSE: LC) has appointed Janey Whiteside joined as a member of its Board of Directors, effective April 20, 2023. Whiteside is currently a Partner of the Consello Group and the CEO of Consello’s Growth and Business Development division. Prior to Consello, Whiteside… Read More

March 27, 2023 @ 4:21 pm By JD Alois  |  

LendingClub (NYSE:LC) has appointed Stephen Cutler as a member of its Board of Directors. Cutler officially joined the board last week (March 23). An attorney, Cutler recently served in various positions at Simpson Thacher & Bartlett LLP, including as the Global Head of the firm’s… Read More

March 10, 2023 @ 5:47 pm By JD Alois  |  

The dust is still settling following the collapse of Silicon Valley Bank (NASDAQ:SIVB). While greater clarity may arise next week, clients of the bank are scrambling to figure out what they have and what they may not hold. Following the market close, LendingClub (NYSE:LC), a… Read More

January 25, 2023 @ 7:15 pm By JD Alois  |  

LendingClub (NYSE:LC), a top digital bank and online lending platform, has posted Q4 earnings along with full-year 2022 results today after the market close. The results were effectively in line with LendingClub’s pre-release of results earlier this month. At that time, LendingClub announced that it was… Read More

January 12, 2023 @ 5:37 pm By JD Alois  |  

LendingClub (NYSE:LC) has become the latest Fintech to cut costs and reduce employee headcount. According to an SEC filing and release, Lending Club will slash its workforce by 14% or 225 employees while reducing costs and incorporating a reorganization plan. LendingClub said the move was… Read More

December 2, 2022 @ 8:20 am By JD Alois  |  

LendingClub  (NYSE: LC) has agreed to acquire a $1.05 billion loan portfolio of personal loans that became available following US Bancorp’s acquisition of MUFG Union Bank’s core regional banking franchise. The loans were originated on the LendingClub platform. On September 21, 2021, MUFG and MUFG… Read More

October 26, 2022 @ 5:59 pm By JD Alois  |  

LendingClub (NYSE: LC), one of the few federally chartered digital banks, has reported Q3 2022 earnings. The Fintech states that total net revenue during the quarter came in at $304.9 million, growing by 24% year over year, driven by growth in net interest income. Alongside… Read More

August 2, 2022 @ 5:37 pm By JD Alois  |  

LendingClub (NYSE: LC) has appointed Faiz Ahmad and Kathryn Reimann as its newest members of its Board of Directors, effective August 15, 2022. LendingClub also announced that Patricia McCord has decided that she will resign from the Board, effective September 30, 2022. Scott Sanborn, CEO… Read More

July 27, 2022 @ 4:41 pm By JD Alois  |  

  LendingClub (NYSE:LC) has announced Q2 financial results reporting that both top-line revenue and net income are improving. According to the digital bank, Q2 delivered record revenue of $330 million, fueled by interest income along with loan marketplace revenue. Net income was solid at $182.1… Read More

June 10, 2022 @ 2:48 pm By JD Alois  |  

LendingClub Bank: Well Positioned for the Future. Recently, Fintech Nexus (formerly known as LendIt Fintech) held its annual event in New York City. Hundreds of Fintechs showed up for the in-person event that spanned the spectrum of innovative financial services. From blockchain to online capital… Read More