Tagged: scott sanborn

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

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

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 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

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

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

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

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

March 10, 2021 @ 4:34 pm By JD Alois  |  

LendingClub (NYSE: LC), an online lender and nascent digital bank, has announced financial results for Q4 2020 and the full year ending December. According to a release, LendingClub’s adjusted net loss was $(22.1) million in the fourth quarter, compared to adjusted net income of $7.0… Read More

February 1, 2021 @ 8:49 am By JD Alois  |  

LendingClub (NYSE:LC) has completed the acquisition of Radius Bancorp, according to a public release. Scott Sanborn, CEO of LendingClub, issued the following statement: “This is a historic day for LendingClub and a true watershed moment for the industry. The move to digital-first banking is accelerating,… Read More

January 19, 2021 @ 8:20 am By JD Alois  |  

LendingClub (NYSE:LC) says it has now received all the bank regulatory approvals necessary to complete its acquisition of digital bank Radius Bancorp. LendingClub said the deal should close on or around February 1, 2021, subject to completion or waiver of the remaining customary closing conditions. At… Read More

November 4, 2020 @ 6:17 pm By JD Alois  |  

LendingClub Corporation (NYSE: LC) has announced its Q3 results for the period ending September 30, 2020. LendingClub, a leading online lender, has been battered by the ongoing COVID-19 health crisis but is reporting a bounce back in loan originations. According to the earnings report, loan… Read More

August 19, 2020 @ 4:33 pm By JD Alois  |  

LendingClub (NYSE:LC) is the leading online consumer lender in the US and the first big Fintech lender to go public on the NYSE. Over $50 billion in lending has been originated on the platform that claims more than 3 million customers. The last few years… Read More

August 4, 2020 @ 4:36 pm By JD Alois  |  

LendingClub (NYSE:LC) is out with Q2 earnings and, as anticipated, COVID-19 has hit the online lender hard. According to the company, during the quarter loan originations came in at $325.8 million, down 90% year-over-year. LendingClub’s net revenue during the quarter was down 77% year over… Read More

May 28, 2020 @ 9:18 am By JD Alois  |  

  LendingClub (NYSE:LC), an online lending marketplace and emerging digital bank, has announced the launch of the “Member Center,” a centralized location for users to find assistance and support to better manage their financial lives during the COVID-19 crisis. Early one, when the Coronavirus first… Read More