Archives

May 25, 2022 @ 8:30 am By JD Alois  |  

LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, has announced a “major enhancement” to its automated loan auction platform, LCX. LendingClub states that institutions may now trade directly thus increasing liquidity for loans. LendingClub describes LCX as a “digital revolution in marketplace investing.”… Read More

April 27, 2022 @ 4:56 pm By JD Alois  |  

LendingClub (NYSE:LC) a digital bank with a focus on providing consumer snd commercial credit, has reported Q1 2022 earnings. According to the Fintech, revenue was reported at $289.5 million growing 174% year-over-year. Loan originations grew by 117%. Net income came in at $40.8 million compared… Read More

March 30, 2022 @ 9:30 am By JD Alois  |  

LendingClub (NYSE: LC), once a marketplace lender and now a digital bank, is reporting that it has topped 4 million “members” adding that the milestone arrives a bit over a year since it morphed into a regulated bank. Amber Carroll, Senior Vice President of Membership… Read More

February 10, 2022 @ 9:10 am By JD Alois  |  

LendingClub (NYSE: LC), one of the few nationally chartered digital banks in the US, has appointed a new Chief Technology Officer. LendingClub states that Balaji Thiagarajan will now manage the Fintech’s tech stack as its CTO. Thiagarajan joins LendingClub’s executive leadership reporting directly to CEO Scott… Read More

January 26, 2022 @ 4:33 pm By JD Alois  |  

LendingClub (NYSE:LC), one of the few fully chartered digital banks, has reported Q4 earnings as well as full-year 2021 results. According to a statement by the Fintech, LendingClub earned net income of $29.1 million during Q4 versus a loss of $26.7 million year prior. For… Read More

January 10, 2022 @ 4:47 pm By JD Alois  |  

LendingClub (NYSE:LC), a federally chartered digital bank, will share Q4 results and full-year 2021 performance later this month on January 26, 2022. LendingClub now has a complete year of operating as a digital bank following its acquisition of Radius Bank. LendingClub, once an online lender,… Read More

January 6, 2022 @ 2:56 pm By JD Alois  |  

LendingClub (NYSE:LC) is exiting the yacht lending sector. While most people were probably unaware that Lendingclub provided loans for boats, the digital bank announced this week that yacht lending will no longer be a part of their business. In a blog post, LendingClub CEO Scott… Read More

November 30, 2021 @ 10:22 am By JD Alois  |  

LendingClub (NYSE:LC) says its auto lending vertical, launched in 2016, now covers 94% of the US population. LendingClub was initially launched as a peer-to-peer consumer lender. Over time, it has morphed from a marketplace lending platform to a fully chartered digital bank. Adding new verticals… Read More

October 28, 2021 @ 9:06 am By JD Alois  |  

LendingClub (NYSE:LC) reported solid quarterly results yesterday that solidly beat earnings estimates. Earnings per share (EPS) came in $0.26 when estimates were expecting less than half of that. Following the news, shares rallied significantly higher and in pre-market trading, LendingClub shares are currently trading up… Read More

October 27, 2021 @ 4:53 pm By JD Alois  |  

LendingClub (NYSE:LC) has easily topped analyst estimates reporting net income of $27.2 million or an EPS of $0.26. Top line revenue came in at $246.2 million with total sequential revenue growth of 20% outpacing origination growth of 14%, according to the digital bank. Shares in… Read More

September 9, 2021 @ 9:26 am By JD Alois  |  

LendingClub (NYSE:LC), a digital bank and online lender, has improved its trading system for personal loans. According to a statement from the company it has extended the capabilities of its electronic trading platform named LCX to include LCX Link. This is designed to open access… Read More

August 3, 2021 @ 5:57 pm By Omar Faridi  |  

LendingClub Corporation (NYSE: LC), the parent firm of LendingClub Bank, the leading digital marketplace bank in the US, has shared key findings from its second Reality Check: Paycheck-To-Paycheck research series. The first report revealed that most US residents (54%) are living paycheck-to-paycheck; this second August… Read More

July 28, 2021 @ 4:53 pm By JD Alois  |  

LendingClub (NYSE:LC), a Fintech that started as a peer-to-peer lender and now operating as a digital bank, has posted strong 2nd quarter results that easily topped expectations. LendingClub finally turned the corner on profitability shredding guidance that had expected a loss. Shares moved considerably higher… Read More

July 15, 2021 @ 11:51 am By JD Alois  |  

In the days before Q2 earnings, LendingClub (NYSE:LC) has settled its case with the Federal Trade Commission (FTC), subject to court approval. According to a release distributed by LendingClub, the settlement requires LendingClub to make an $18 million payment for consumer remediation, an amount already… Read More

July 14, 2021 @ 3:16 pm By JD Alois  |  

LendingClub (NYSE:LC), once the largest marketplace lender in the US and now an emerging digital bank, is transitioning away from the Radius Bank brand. As was previously reported, LendingClub acquired federally chartered Radius Bank with the deal closing around the beginning of this year. The… Read More

June 8, 2021 @ 11:15 am By JD Alois  |  

LendingClub Corporation (NYSE: LC) has announced several executive changes as it focuses on its mission to emerge as a top digital banking operation. In a public statement, LendingClub said it has promoted Ronnie Momen to serve as its first Chief Consumer Banking Officer and hired… Read More

May 12, 2021 @ 2:53 pm By JD Alois  |  

Alto Solutions, a self-directed IRA platform, reports that it has been selected by LendingClub (NYSE: LC) as the new preferred IRA custodian for LendingClub IRA account holders. The news follows an announcement last month that Alto had raised $17 million in a Series A funding… Read More

April 28, 2021 @ 5:00 pm By JD Alois  |  

LendingClub Corporation (NYSE: LC), has announced Q1 2021 earnings delivering a net loss of $41 million for the quarter. Loan originations were $1,483.2 billion for the quarter. In Q1 2020 that number was $2,521 billion. Loan originations in Q4 of 2020 were $912.0 million. LendingClub… Read More

April 8, 2021 @ 9:13 am By JD Alois  |  

Last month, the US Paycheck Protection Program (PPP) was extended to aid small businesses impacted by the ongoing COVID-19 health crisis. With the program extending, LendingClub Bank says it will support SMEs with access to more PPP loans through its predecessor in interest Radius Bank…. Read More

March 17, 2021 @ 3:50 pm By Omar Faridi  |  

The shares of LendingClub (NYSE: LC), an online lender and nascent digital bank, have been surging recently. Last week, LendingClub reported an adjusted net loss of $(22.1) million in the fourth quarter, compared to an adjusted net income of $7.0 million the same quarter last… Read More