lendingclublogonewa02.jpg                                    EXHIBIT 99.1
LendingClub Reports Fourth Quarter and Full Year 2021 Results
Record Q4 Revenue and Net Income Exceed High End of Guidance and Drive Full Year Profitability
2022 Outlook Reflects Revenue Growth of approximately 40% and Net Income Growth of $100+ Million
    
SAN FRANCISCO – January 26, 2022 – LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s leading digital marketplace bank, today announced financial results for the fourth quarter and full year ended December 31, 2021.
    “We have closed out a transformative year at LC by delivering the growth, innovation, and efficiency of a fintech along with the funding advantages, revenue diversity, and regulatory clarity of a bank,” said Scott Sanborn, LendingClub’s CEO. “We expect our transformed business model and data and membership advantages to help drive more than $100 million in incremental earnings in 2022 as we continue to evolve our member-focused business into a multi-product, digital marketplace bank.”

Record Full Year 2021 Results Driven by Return to Growth, Transformed Business Economics and Increased Operational Efficiency
•Revenue of $818.6 million, up 157% compared to 2020, with marketplace revenue 136% higher and the new recurring stream of net interest income 259% higher year-over-year.
•Achieved GAAP profitability during 2021, with net income of $18.6 million for the year ended December 31, 2021, compared to a net loss of $187.5 million in 2020.
•Results driven by initiatives undertaken in 2021 and in prior years to improve efficiency, as well as the transformational business model changes with the bank acquisition, both of which position LendingClub well to generate continued strong revenue and earnings growth.
•Key achievements for the year include acquiring and integrating the bank, consolidating the personal, auto refinance and purchase finance loans onto one origination platform, and accelerating membership acquisition.

Record Fourth Quarter 2021 Results Exceed Expectations
•Revenue of $262.2 million, with sequential growth of 7% outpacing growth in originations.
◦New recurring stream of net interest income grew 27% sequentially to $83.1 million, as the bank’s loan portfolio (excluding PPP loans and including $248.9 million of yacht loans transferred to held for sale) grew 22% from September 30, 2021.
◦Marketplace revenue of $170.6 million declined 2% sequentially, primarily reflecting a reduction in loans sold through the marketplace as loan retention increased from 20% in the third quarter of 2021 to 25% of total originations in the fourth quarter of 2021, driving 43% growth in the personal loan portfolio retained on the balance sheet at period end.
◦Deposits grew 10% sequentially to $3.1 billion, in line with growth in our loans held for investment.
•Net income of $29.1 million, up 7% sequentially, and diluted earnings per share of $0.27 as strong revenue growth exceeded the impact of investments in loan retention, marketing and technology.
•Net income was negatively impacted by $56.6 million of notable items: $39.5 million of Current Expected Credit Loss (CECL) provisioning, less net charge-offs, and $17.1 million of net revenue deferrals both driven by strong retained loan growth. These items reduced our earnings per share by $0.53 in the fourth quarter of 2021.

Three Months Ended  Year Ended
($ in millions)December 31,
2021		September 30,
2021		December 31,
2020		December 31,
2021		December 31,
2020
Loan originations(1)
$3,069.1 $3,106.7 $912.0 $10,381.3 $4,343.4 
Total revenue$262.2 $246.2 $75.9 $818.6 $318.1 
Consolidated net income (loss)$29.1 $27.2 $(26.7)$18.6 $(187.5)
(1)     Includes unsecured personal loans, auto loans, and education and patient finance loans only.
1


Financial Outlook

(millions)First Quarter
2022		Full Year
2022
Total revenue$255M to $265M$1.1B to $1.2B
Consolidated net income$25M to $30M$130M to $150M

Notable Items Impacting Fourth Quarter 2021 Consolidated Net Income

(millions)
Consolidated Net Income Impact(1)
Per
Diluted Share Impact		Commentary
Revenue deferrals, net of amortization$(17.1)$0.16Origination fee and cost deferrals, net of interest income amortization during the period
Provision for credit losses, less net charge-offs$(39.5)$0.37Primarily for consumer loans originated and retained in the quarter
Total$(56.6)$0.53
(1)    Amounts presented net of tax.
2

About LendingClub
LendingClub Corporation (NYSE: LC) is the parent company of LendingClub Bank, National Association, Member FDIC. LendingClub Bank is the leading digital marketplace bank in the U.S., where members can access a broad range of financial products and services designed to help them pay less when borrowing and earn more when saving. Based on more than 150 billion cells of data and over $70 billion in loans, our artificial intelligence-driven credit decisioning and machine-learning models are used across the customer lifecycle to expand seamless access to credit for our members, while generating compelling risk-adjusted returns for our loan investors. Since 2007, more than 3.9 million members have joined the Club to help reach their financial goals. For more information about LendingClub, visit https://www.lendingclub.com.

Conference Call and Webcast Information
The LendingClub fourth quarter 2021 webcast and teleconference is scheduled to begin at 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time) on Wednesday, January 26, 2022. A live webcast of the call will be available at http://ir.lendingclub.com under the Filings & Financials menu in Quarterly Results. To access the call, please dial +1 (888) 317-6003, or outside the U.S. +1 (412) 317-6061, with conference ID 1727043, ten minutes prior to 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time). An audio archive of the call will be available at http://ir.lendingclub.com. An audio replay will also be available 1 hour after the end of the call until February 2, 2022, by calling +1 (877) 344-7529 or outside the U.S. +1 (412) 317-0088, with Conference ID 5387149. LendingClub has used, and intends to use, its investor relations website, blog (http://blog.lendingclub.com), Twitter handle (@LendingClub) and Facebook page (https://www.facebook.com/LendingClubTeam) as a means of disclosing material non-public information and to comply with its disclosure obligations under Regulation FD.

Contacts
For Investors:
IR@lendingclub.com
Media Contact:
Press@lendingclub.com

Safe Harbor Statement
Some of the statements above, including statements regarding our competitive advantages, ability to grow and evolve our business, anticipated future performance and financial results, are “forward-looking statements.” The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “predict,” “project,” “will,” “would” and similar expressions may identify forward-looking statements, although not all forward-looking statements contain these identifying words. Factors that could cause actual results to differ materially from those contemplated by these forward-looking statements include: our ability to continue to attract and retain new and existing customers; competition; overall economic conditions; the regulatory environment; demand for the types of loans facilitated by us; default rates and those factors set forth in the section titled “Risk Factors” in our most recent Quarterly Report on Form 10-Q and Annual Report on Form 10-K, each as filed with the Securities and Exchange Commission, as well as our subsequent reports on Form 10-Q and 10-K each as filed with the Securities and Exchange Commission. We may not actually achieve the plans, intentions or expectations disclosed in forward-looking statements, and you should not place undue reliance on forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements. 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.

*****
3
LENDINGCLUB CORPORATION
OPERATING HIGHLIGHTS
(In thousands, except percentages or as noted)
(Unaudited)
The information in the following tables is presented for the consolidated LendingClub Corporation, unless specifically noted for LendingClub Bank, the company’s wholly-owned subsidiary:
As of and for the three months ended% Change
December 31,
2021		September 30,
2021		June 30,
2021		March 31,
2021		December 31,
2020		Q/QY/Y
Operating Highlights:
Non-interest income$179,111 $180,878 $158,476 $87,334 $72,597 (1)%147 %
Net interest income$83,132 $65,288 $45,905 $18,506 2,899 27 %N/M
Total net revenue$262,243 $246,166 $204,381 $105,840 $75,496 7 %247 %
Consolidated net income (loss)$29,108 $27,185 $9,371 $(47,084)$(26,655)7 %N/M
Basic EPS – common stockholders$0.29 $0.27 $0.10 $(0.49)$(0.29)7 %N/M
Diluted EPS – common stockholders$0.27 $0.26 $0.09 $(0.49)$(0.29)4 %N/M
LendingClub Bank Performance Metrics:
Net interest margin8.3 %7.1 %5.5 %3.3 %N/A
Efficiency ratio (1)
69.5 %67.5 %69.0 %104.8 %N/A
Return on average equity (ROE)21.7 %26.5 %34.7 %N/AN/A
Return on average total assets (ROA)3.10 %3.7 %4.7 %N/AN/A
LendingClub Bank Capital Ratios:
Common Equity Tier 1 Capital Ratio16.7 %18.0 %18.7 %20.9 %N/A
Tier 1 Leverage Ratio14.3 %14.1 %13.5 %12.9 %N/A
Consolidated LendingClub Corporation Performance Metrics:
Net interest margin7.6 %6.3 %4.7 %1.8 %0.7 %
Efficiency ratio (1)
71.8 %72.6 %78.4 %126.8 %N/A
Return on average equity (ROE)14.1 %13.8 %5.0 %N/AN/A
Return on average total assets (ROA)2.4 %2.4 %0.8 %N/AN/A
Marketing expense as a % of loan originations1.7 %1.6 %1.3 %1.3 %0.9 %
Loan originations (in millions) (2):
Marketplace loans$2,308 $2,471 $2,182 $1,139 $912 (7)%153 %
Loan originations held for investment$761 $636 $541 $344 $— 20 %N/A
Total loan originations$3,069 $3,107 $2,722 $1,483 $912 (1)%237 %
Servicing portfolio AUM
(in millions) (3)
$12,463$11,592$10,741$10,271$11,0028 %(6)%
Balance Sheet Data:
Loans and leases held for investment, net, excluding PPP loans$2,486,440 $2,235,698 $1,791,492 $1,414,900 $— 11 %N/A
PPP loans$268,297 $367,558 $507,553 $664,400 $— (27)%N/A
Total loans and leases held for investment, net$2,754,737 $2,603,256 $2,299,045 $2,079,300 $— 6 %N/A
Total assets$4,900,319 $4,750,760 $4,370,101 $4,491,089 $1,863,293 3 %163 %
Total deposits$3,135,788 $2,838,719 $2,539,704 $2,373,437 $— 10 %N/A
Total liabilities$4,050,077 $3,945,970 $3,607,742 $3,757,954 $1,139,122 3 %256 %
Total equity$850,242 $804,790 $762,359 $733,135 $724,171 6 %17 %
4
LENDINGCLUB CORPORATION
OPERATING HIGHLIGHTS (Continued)
(In thousands, except percentages or as noted)
(Unaudited)
As of and for the three months ended% Change
December 31,
2021		September 30,
2021		June 30,
2021		March 31,
2021		December 31,
2020		Q/QY/Y
Allowance Ratios:
Allowance for loan and lease losses to total loans and leases held for investment5.0 %3.9 %3.0 %1.7 %N/A
Allowance for loan and lease losses to total loans and leases held for investment, excluding PPP loans5.5 %4.5 %3.8 %2.5 %N/A
Allowance for loan and lease losses to consumer loans and leases held for investment6.4 %5.2 %4.3 %2.3 %N/A
Allowance for loan and lease losses to commercial loans and leases held for investment1.8 %1.6 %1.5 %1.3 %N/A
Allowance for loan and lease losses to commercial loans and leases held for investment, excluding PPP loans2.6 %2.6 %2.8 %1.7 %N/A
N/M – Not meaningful
N/A – Not applicable
(1)    Calculated as the ratio of non-interest expense to total net revenue.
(2)    Includes unsecured personal loans, auto loans, and education and patient finance loans only.
(3)    Loans serviced on our platform, which includes personal and auto loans serviced for others and retained for investment by the Company.
5

LENDINGCLUB CORPORATION
LOANS AND LEASES HELD FOR INVESTMENT
(In thousands, except percentages or as noted)
(Unaudited)

December 31,
2021		September 30, 2021
Unsecured personal$1,804,578 $1,258,279 
Residential mortgages151,362 141,200 
Secured consumer65,976 314,539 
Other consumer— 1,220 
Total consumer loans held for investment2,021,916 1,715,238 
Equipment finance (1)
149,155 157,457 
Commercial real estate310,399 316,135 
Commercial and industrial (2)
417,656 519,162 
Total commercial loans and leases held for investment877,210 992,754 
Total loans and leases held for investment2,899,126 2,707,992 
Allowance for loan and lease losses(144,389)(104,736)
Loans and leases held for investment, net$2,754,737 $2,603,256 
(1)    Comprised of sales-type leases for equipment.
(2)    Includes $268.3 million and $367.6 million of Paycheck Protection Program (PPP) loans as of December 31, 2021 and September 30, 2021, respectively. Such loans are guaranteed by the Small Business Association and, therefore, the Company determined no allowance for expected credit losses is required on these loans.


LENDINGCLUB CORPORATION
ALLOWANCE FOR LOAN AND LEASE LOSSES
(In thousands, except percentages or as noted)
(Unaudited)

Three Months Ended
December 31, 2021September 30, 2021
ConsumerCommercialTotalConsumerCommercialTotal
Allowance for loan and lease losses, beginning of period$88,631 $16,105 $104,736 $54,058 $17,023 $71,081 
Credit loss expense for loans and leases held for investment45,595 (306)45,289 37,695 (562)37,133 
Charge-offs(5,557)(313)(5,870)(3,142)(1,194)(4,336)
Recoveries143 91 234 20 838 858 
Allowance for loan and lease losses, end of period$128,812 $15,577 $144,389 $88,631 $16,105 $104,736 

6
LENDINGCLUB CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share data)
(Unaudited)

Three Months Ended
 December 31,
2021		September 30,
2021		Change (%)
Non-interest income:
Marketplace revenue (1)
$170,562 $174,556 (2)%
Other non-interest income8,549 6,322 35 %
Total non-interest income179,111 180,878 (1)%
Interest income:
Interest on loans held for sale7,153 8,536 (16)%
Interest and fees on loans and leases held for investment76,964 57,644 34 %
Interest on retail and certificate loans held for investment at fair value9,236 12,172 (24)%
Interest on other loans held for investment at fair value762 973 (22)%
Interest on securities available for sale3,071 3,180 (3)%
Other interest income469 355 32 %
Total interest income97,655 82,860 18 %
Interest expense:
Interest on deposits2,616 1,899 38 %
Interest on short-term borrowings561 849 (34)%
Interest on retail notes, certificates and secured borrowings9,236 12,172 (24)%
Interest on Structured Program borrowings1,642 2,120 (23)%
Interest on other long-term debt468 532 (12)%
Total interest expense14,523 17,572 (17)%
Net interest income83,132 65,288 27 %
Total net revenue262,243 246,166 7 %
Provision for credit losses45,149 37,524 20 %
Non-interest expense:
Compensation and benefits78,741 73,304 7 %
Marketing50,708 50,782 — %
Equipment and software12,019 10,297 17 %
Occupancy4,706 6,486 (27)%
Depreciation and amortization10,462 10,549 (1)%
Professional services12,699 11,750 8 %
Other non-interest expense18,885 15,607 21 %
Total non-interest expense188,220 178,775 5 %
Income before income tax expense (benefit)28,874 29,867 (3)%
Income tax expense (benefit)(234)2,682 N/M
Consolidated net income$29,108 $27,185 7 %
Net income per share attributable to common stockholders – Basic$0.29 $0.27 
Net income per share attributable to common stockholders – Diluted$0.27 $0.26 
Weighted-average common shares – Basic100,320,691 99,073,507 
Weighted-average common shares – Diluted108,096,823 106,108,662 
N/M – Not meaningful
7
LENDINGCLUB CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Continued)
(In thousands, except share and per share data)
(Unaudited)
(1)    Marketplace revenue consists of the following:
Three Months Ended
December 31, 2021September 30,
2021		Change (%)
Origination fees$118,353 $129,125 (8)%
Servicing fees20,940 20,819 1 %
Gain on sales of loans20,569 21,907 (6)%
Net fair value adjustments10,700 2,705 N/M
Total marketplace revenue$170,562 $174,556 (2)%

8
LENDINGCLUB CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share data)
(Unaudited)
Year Ended December 31,
 2021
2020(1)
Change (%)
Non-interest income:
Marketplace revenue (2)
$578,580 $245,314 136 %
Other non-interest income27,219 13,442 102 %
Total non-interest income605,799 258,756 134 %
Interest income:
Interest on loans held for sale29,540 72,876 (59)%
Interest and fees on loans and leases held for investment188,977 — N/M
Interest on retail and certificate loans held for investment at fair value57,684 115,952 (50)%
Interest on other loans held for investment at fair value4,436 7,688 (42)%
Interest on securities available for sale11,025 12,125 (9)%
Other interest income1,170 1,053 11 %
Total interest income292,832 209,694 40 %
Interest expense:
Interest on deposits7,228 — N/M
Interest on short-term borrowings3,677 17,837 (79)%
Interest on retail notes, certificates and secured borrowings57,684 115,952 (50)%
Interest on Structured Program borrowings9,638 16,204 (41)%
Interest on other long-term debt1,774 373 N/M
Total interest expense80,001 150,366 (47)%
Net interest income212,831 59,328 259 %
Total net revenue818,630 318,084 157 %
Provision for credit losses138,800 3,382 N/M
Non-interest expense:
Compensation and benefits288,390 252,517 14 %
Marketing156,142 51,518 203 %
Equipment and software39,490 26,842 47 %
Occupancy24,249 27,870 (13)%
Depreciation and amortization44,285 54,030 (18)%
Professional services47,572 41,780 14 %
Other non-interest expense61,258 47,762 28 %
Total non-interest expense661,386 502,319 32 %
Income (Loss) before income tax expense (benefit)18,444 (187,617)N/M
Income tax expense (benefit)(136)(79)N/M
Consolidated net income (loss)$18,580 $(187,538)N/M
Basic EPS – common stockholders$0.19 $(2.63)
Diluted EPS – common stockholders$0.18 $(2.63)
Weighted-average common shares – Basic97,486,754 77,934,302 
Weighted-average common shares – Diluted102,147,353 77,934,302 
Basic EPS – preferred stockholders$0.19 $1.39 
Diluted EPS – preferred stockholders$0.00 $1.39 
Weighted-average common shares, as converted – Basic653,118 12,505,393 
Weighted-average common shares, as converted – Diluted— 12,505,393 
N/M – Not meaningful
9
LENDINGCLUB CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS (Continued)
(In thousands, except share and per share data)
(Unaudited)
(1)    Prior period amounts have been reclassified to conform to the current period presentation.
(2)    Marketplace revenue consists of the following:
Year Ended December 31,
20212020Change (%)
Origination fees$416,839 $207,640 101 %
Servicing fees87,639 111,864 (22)%
Gain on sales of loans70,116 30,812 128 %
Net fair value adjustments3,986 (105,002)N/M
Total marketplace revenue$578,580 $245,314 136 %
10
LENDINGCLUB CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS BY SEGMENT
(In thousands, except share and per share data)
(Unaudited)

Three months ended December 31, 2021
LendingClub
Bank		LendingClub
Corporation
(Parent only)		Intercompany
Eliminations		Total
Non-interest income:
Marketplace revenue$146,936 $23,626 $— $170,562 
Other non-interest income21,520 4,199 (17,170)8,549 
Total non-interest income168,456 27,825 (17,170)179,111 
Interest income:
Interest income83,310 14,345 — 97,655 
Interest expense(2,923)(11,600)— (14,523)
Net interest income80,387 2,745 — 83,132 
Total net revenue248,843 30,570 (17,170)262,243 
Reversal of (provision for) credit losses(45,244)95 — (45,149)
Non-interest expense(173,017)(32,373)17,170 (188,220)
Income (Loss) before income tax benefit (expense)30,582 (1,708)— 28,874 
Income tax benefit (expense)1,305 20,192 (21,263)234 
Consolidated net income (loss)$31,887 $18,484 $(21,263)$29,108 

Three Months Ended September 30, 2021
LendingClub
Bank		LendingClub
Corporation
(Parent only)		Intercompany
Eliminations		Total
Non-interest income:
Marketplace revenue$151,109 $23,447 $— $174,556 
Other non-interest income25,393 4,140 (23,211)6,322 
Total non-interest income176,502 27,587 (23,211)180,878 
Interest income:
Interest income64,606 18,254 — 82,860 
Interest expense(2,270)(15,302)— (17,572)
Net interest income62,336 2,952 — 65,288 
Total net revenue238,838 30,539 (23,211)246,166 
Reversal of (provision for) credit losses(38,019)495 — (37,524)
Non-interest expense(161,101)(40,885)23,211 (178,775)
Income (Loss) before income tax benefit39,718 (9,851)— 29,867 
Income tax benefit (expense)(4,670)12,607 (10,619)(2,682)
Consolidated net income (loss)$35,048 $2,756 $(10,619)$27,185 
11
LENDINGCLUB BANK
NET INTEREST INCOME
(In thousands, except percentages or as noted)
(Unaudited)
LendingClub Bank
Three Months Ended
December 31, 2021		Three Months Ended
September 30, 2021
Average
Balance		Interest Income/
Expense		Average Yield/
Rate		Average
Balance		Interest Income/
Expense		Average Yield/
Rate
Interest-earning assets (1)
Cash, cash equivalents and restricted cash$651,003 $468 0.29 %$695,294 $352 0.20 %
Securities available for sale at fair value200,091 680 1.36 %182,882 632 1.38 %
Loans held for sale122,007 5,199 17.04 %145,262 5,978 16.46 %
Loans and leases held for investment:
Unsecured personal loans1,542,285 60,383 15.66 %991,297 39,532 15.95 %
Secured consumer loans436,260 4,029 3.69 %464,194 4,688 4.04 %
Commercial loans and leases619,648 8,663 5.59 %616,823 7,887 5.11 %
PPP loans325,133 3,888 4.78 %436,785 5,537 5.07 %
Loans and leases held for investment2,923,326 76,963 10.53 %2,509,099 57,644 9.19 %
Total interest-earning assets3,896,427 83,310 8.55 %3,532,537 64,606 7.32 %
Cash and due from banks23,362 29,290 
Allowance for loan and lease losses(125,120)(86,686)
Other non-interest earning assets326,402 270,594 
Total assets$4,121,071 $3,745,735 
Interest-bearing liabilities
Interest-bearing deposits
Checking and money market accounts$2,146,687 $1,716 0.32 %$2,221,365 $1,707 0.30 %
Savings accounts and certificates of deposit580,361 900 0.62 %307,807 192 0.25 %
Interest-bearing deposits2,727,048 2,616 0.38 %2,529,172 1,899 0.30 %
Short-term borrowings282 — — %321 — — %
Advances from PPPLF342,335 307 0.36 %416,748 371 0.36 %
Total interest-bearing liabilities3,069,665 2,923 0.38 %2,946,241 2,270 0.31 %
Non-interest bearing deposits283,066 114,065 
Other liabilities179,752 155,806 
Total liabilities$3,532,483 $3,216,112 
Total equity$588,588 $529,623 
Total liabilities and equity$4,121,071 $3,745,735 
Interest rate spread8.17 %7.01 %
Net interest income and net interest margin$80,387 8.25 %$62,336 7.06 %
(1)    Nonaccrual loans and any related income are included in their respective loan categories.
12
LENDINGCLUB CORPORATION
NET INTEREST INCOME (Continued)
(In thousands, except percentages or as noted)
(Unaudited)
Three Months Ended December 31, 2021
LendingClub BankLendingClub Corporation
(Parent only)		Consolidated
LendingClub Corporation
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 and restricted cash$651,003 $467 0.29 %$59,469 $2 0.01 %$710,472 $469 0.26 %
Securities available for sale at fair value200,091 680 1.36 %65,049 2,391 14.70 %265,140 3,071 4.63 %
Loans held for sale at fair value122,007 5,199 17.04 %62,701 1,954 12.47 %184,708 7,153 15.49 %
Loans and leases held for investment:
Unsecured personal loans1,542,285 60,384 15.66 %— — — %1,542,285 60,384 15.66 %
Secured consumer loans436,260 4,029 3.69 %— — — %436,260 4,029 3.69 %
Commercial loans and leases619,648 8,663 5.59 %— — — %619,648 8,663 5.59 %
PPP loans325,133 3,888 4.78 %— — — %325,133 3,888 4.78 %
Loans and leases held for investment2,923,326 76,964 10.53 %— — — %2,923,326 76,964 10.53 %
Retail and certificate loans held for investment at fair value— — — %262,548 9,236 14.07 %262,548 9,236 14.07 %
Other loans held for investment at fair value— — — %24,184 762 12.60 %24,184 762 12.60 %
Total interest-earning assets3,896,427 83,310 8.55 %473,951 14,345 12.11 %4,370,378 97,655 8.94 %
Cash and due from banks and restricted cash23,362 121,270 73,258 
Allowance for loan and lease losses(125,120)— (125,120)
Other non-interest earning assets326,402 763,808 465,010 
Total assets$4,121,071 $1,359,029 $4,783,526 
Interest-bearing liabilities
Interest-bearing deposits:
Checking and money market accounts$2,146,687 $1,716 0.32 %$— $— — %$2,146,687 $1,716 0.32 %
Savings accounts and certificates of deposit580,361 900 0.62 %— — — %580,361 900 0.62 %
Interest-bearing deposits2,727,048 2,616 0.38 %— — — %2,727,048 2,616 0.38 %
Short-term borrowings282 — — %36,541 561 6.13 %36,823 561 6.08 %
Advances from PPPLF342,335 307 0.36 %— — — %342,335 307 0.36 %
Retail notes, certificates and secured borrowings— — — %262,548 9,236 14.07 %262,548 9,236 14.07 %
Structured Program borrowings— — — %77,354 1,642 8.49 %77,354 1,642 8.49 %
Other long-term debt— — — %15,514 161 4.15 %15,514 161 4.15 %
Total interest-bearing liabilities3,069,665 2,923 0.38 %391,957 11,600 11.84 %3,461,622 14,523 1.68 %
13
LENDINGCLUB CORPORATION
NET INTEREST INCOME (Continued)
(In thousands, except percentages or as noted)
(Unaudited)
Three Months Ended December 31, 2021
LendingClub BankLendingClub Corporation
(Parent only)		Consolidated
LendingClub Corporation
Average
Balance		Interest Income/
Expense		Average Yield/
Rate		Average
Balance		Interest Income/
Expense		Average Yield/
Rate		Average
Balance		Interest Income/
Expense		Average Yield/
Rate
Non-interest bearing deposits283,066 — 211,692 
Other liabilities179,752 162,938 282,339 
Total liabilities$3,532,483 $554,895 $3,955,653 
Total equity$588,588 $804,134 $827,873 
Total liabilities and equity$4,121,071 $1,359,029 $4,783,526 
Interest rate spread8.17 %0.27 %7.26 %
Net interest income and net interest margin$80,387 8.25 %$2,745 2.32 %$83,132 7.61 %
(1)     Consolidated presentation reflects intercompany eliminations.
(2)    Nonaccrual loans and any related income are included in their respective loan categories.
14
LENDINGCLUB CORPORATION
NET INTEREST INCOME (Continued)
(In thousands, except percentages or as noted)
(Unaudited)
Three Months Ended September 30, 2021
LendingClub BankLendingClub Corporation
(Parent only)		Consolidated
LendingClub Corporation
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 and restricted cash$695,294 $352 0.20 %$83,405 $3 0.01 %$778,667 $355 0.18 %
Securities available for sale at fair value182,882 632 1.38 %83,804 2,548 12.16 %266,686 3,180 4.77 %
Loans held for sale at fair value145,262 5,978 16.46 %81,160 2,558 12.60 %226,422 8,536 15.08 %
Loans and leases held for investment:
Unsecured personal loans991,297 39,532 15.95 %— — — %991,297 39,532 15.95 %
Secured consumer loans464,194 4,688 4.04 %— — — %464,194 4,688 4.04 %
Commercial loans and leases616,823 7,887 5.11 %— — — %616,823 7,887 5.11 %
PPP loans436,785 5,537 5.07 %— — — %436,785 5,537 5.07 %
Loans and leases held for investment2,509,099 57,644 9.19 %— — — %2,509,099 57,644 9.19 %
Retail and certificate loans held for investment at fair value— — — %344,205 12,172 14.15 %344,205 12,172 14.15 %
Other loans held for investment at fair value— — — %30,981 973 12.58 %30,981 973 12.58 %
Total interest-earning assets3,532,537 64,606 7.32 %623,555 18,254 11.71 %4,156,060 82,860 7.97 %
Cash and due from banks and restricted cash29,290 99,985 96,733 
Allowance for loan and lease losses(86,686)— (86,686)
Other non-interest earning assets270,594 760,131 449,964 
Total assets$3,745,735 $1,483,671 $4,616,071 
Interest-bearing liabilities
Interest-bearing deposits:
Checking and money market accounts$2,221,365 $1,707 0.30 %$— $— — %$2,221,365 $1,707 0.30 %
Savings accounts and certificates of deposit307,807 192 0.25 %— — — %307,807 192 0.25 %
Interest-bearing deposits2,529,172 1,899 0.30 %— — — %2,529,172 1,899 0.30 %
Short-term borrowings321 — — %56,903 849 5.97 %57,224 849 5.93 %
Advances from PPPLF416,748 371 0.36 %— — — %416,748 371 0.36 %
Retail notes, certificates and secured borrowings— — — %344,087 12,173 14.15 %344,087 12,173 14.15 %
Structured Program borrowings— — — %100,178 2,119 8.46 %100,178 2,119 8.46 %
Other long-term debt— — — %15,606 161 4.13 %15,606 161 4.13 %
Total interest-bearing liabilities2,946,241 2,270 0.31 %516,774 15,302 11.84 %3,463,015 17,572 2.03 %
15
LENDINGCLUB CORPORATION
NET INTEREST INCOME (Continued)
(In thousands, except percentages or as noted)
(Unaudited)
Three Months Ended September 30, 2021
LendingClub BankLendingClub Corporation
(Parent only)		Consolidated
LendingClub Corporation
Average
Balance		Interest Income/
Expense		Average Yield/
Rate		Average
Balance		Interest Income/
Expense		Average Yield/
Rate		Average
Balance		Interest Income/
Expense		Average Yield/
Rate
Non-interest bearing deposits114,065 — 81,491 
Other liabilities155,806 183,962 285,292 
Total liabilities$3,216,112 $700,736 $3,829,798 
Total equity$529,623 $782,935 $786,273 
Total liabilities and equity$3,745,735 $1,483,671 $4,616,071 
Interest rate spread7.01 %(0.13)%5.95 %
Net interest income and net interest margin$62,336 7.06 %$2,952 1.89 %$65,288 6.28 %
(1)    Consolidated presentation reflects intercompany eliminations.
(2)    Nonaccrual loans and any related income are included in their respective loan categories.
16
LENDINGCLUB CORPORATION
CONSOLIDATED BALANCE SHEETS
(In Thousands, Except Share and Per Share Amounts)
(Unaudited)
December 31, 2021December 31, 2020
Assets
Cash and due from banks$35,670 $5,197 
Interest-bearing deposits in banks651,456 519,766 
Total cash and cash equivalents687,126 524,963 
Restricted cash76,460 103,522 
Securities available for sale at fair value (includes $256,170 and $159,164 at amortized cost, respectively)263,530 142,226 
Loans held for sale (includes $142,370 and $121,902 at fair value, respectively)391,248 121,902 
Loans and leases held for investment2,899,126 — 
Allowance for loan and lease losses(144,389)— 
Loans and leases held for investment, net2,754,737 — 
Retail and certificate loans held for investment at fair value229,719 636,686 
Other loans held for investment at fair value21,240 49,954 
Property, equipment and software, net97,996 96,641 
Goodwill75,717 — 
Other assets302,546 187,399 
Total assets$4,900,319 $1,863,293 
Liabilities and Equity
Deposits:
Interest-bearing$2,919,203 $— 
Noninterest-bearing216,585 — 
Total deposits3,135,788 — 
Short-term borrowings27,780 104,989 
Advances from Paycheck Protection Program Liquidity Facility (PPPLF)271,933 — 
Retail notes, certificates and secured borrowings at fair value229,719 636,774 
Payable on Structured Program borrowings65,451 152,808 
Other long-term debt15,455 — 
Other liabilities303,951 244,551 
Total liabilities4,050,077 1,139,122 
Equity
Series A Preferred stock, $0.01 par value; 1,200,000 shares authorized; 0 and 43,000 shares issued and outstanding, respectively— — 
Common stock, $0.01 par value; 180,000,000 shares authorized; 101,043,924 and 88,149,510 shares issued and outstanding, respectively1,010 881 
Additional paid-in capital
1,609,820 1,508,020 
Accumulated deficit(767,634)(786,214)
Accumulated other comprehensive income7,046 1,484 
Total equity850,242 724,171 
Total liabilities and equity$4,900,319 $1,863,293 

17
LENDINGCLUB CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS BY SEGMENT
(In Thousands, Except Share and Per Share Amounts)
(Unaudited)

LendingClub
Bank		LendingClub
Corporation
(Parent only)		Intercompany
Eliminations		Total
 December 31, 2021December 31, 2020December 31, 2021December 31, 2020December 31, 2021December 31, 2020December 31, 2021December 31, 2020
Assets
Total cash and cash equivalents$659,919 $— $88,268 $524,963 $(61,061)$— $687,126 $524,963 
Restricted cash— — 76,540 103,522 (80)— 76,460 103,522 
Securities available for sale at fair value205,730 — 57,800 142,226 — — 263,530 142,226 
Loans held for sale335,449 — 55,799 121,902 — — 391,248 121,902 
Loans and leases held for investment, net2,754,737 — — — — — 2,754,737 — 
Retail and certificate loans held for investment at fair value— — 229,719 636,686 — — 229,719 636,686 
Other loans held for investment at fair value— — 21,240 49,954 — — 21,240 49,954 
Property, equipment and software, net36,424 — 61,572 96,641 — — 97,996 96,641 
Investment in subsidiary— — 557,577 — (557,577)— — — 
Goodwill75,717 — — — — — 75,717 — 
Other assets254,075 — 168,042 187,399 (119,571)— 302,546 187,399 
Total assets4,322,051 — 1,316,557 1,863,293 (738,289)— 4,900,319 1,863,293 
Liabilities and Equity
Total deposits3,196,929 — — — (61,141)— 3,135,788 — 
Short-term borrowings165 — 27,615 104,989 — — 27,780 104,989 
Advances from PPPLF271,933 — — — — — 271,933 — 
Retail notes, certificates and secured borrowings at fair value— — 229,719 636,774 — — 229,719 636,774 
Payable on Structured Program borrowings— — 65,451 152,808 — — 65,451 152,808 
Other long-term debt— — 15,455 — — — 15,455 — 
Other liabilities218,775 — 150,727 244,551 (65,551)— 303,951 244,551 
Total liabilities3,687,802 — 488,967 1,139,122 (126,692)— 4,050,077 1,139,122 
Total equity634,249 — 827,590 724,171 (611,597)— 850,242 724,171 
Total liabilities and equity$4,322,051 $— $1,316,557 $1,863,293 $(738,289)$— $4,900,319 $1,863,293 
18