Tagged: lendingclub

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

September 2, 2023 @ 10:17 am By Omar Faridi  |  

LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s digital marketplace bank, released findings from the 25th edition of the New Reality Check: Paycheck-To-Paycheck research series.” The Nonessential Spending Deep Dive Edition examines “the impact of nonessential spending on consumers’ ability to manage… 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

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