v3.23.2

Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Financial information for the segments is presented in the following tables:

			LendingClub Bank												LendingClub Corporation (Parent only)												Intercompany Eliminations												Consolidated Total
			Three Months Ended June 30,												Three Months Ended June 30,												Three Months Ended June 30,												Three Months Ended June 30,
			2023						2022						2023						2022						2023						2022						2023						2022
Non-interest income:
Marketplace revenue			$	62,006					$	191,087					$	7,772					$	11,167					$	13,005					$	4,130					$	82,783					$	206,384
Other non-interest income			21,743						20,041						2,431						3,914						(21,139)						(16,507)						3,035						7,448
Total non-interest income			83,749						211,128						10,203						15,081						(8,134)						(12,377)						85,818						213,832
Interest income:
Interest income			210,514						120,152						3,972						8,316						—						—						214,486						128,468
Interest expense			(66,546)						(6,213)						(1,288)						(6,029)						—						—						(67,834)						(12,242)
Net interest income			143,968						113,939						2,684						2,287						—						—						146,652						116,226
Total net revenue			227,717						325,067						12,887						17,368						(8,134)						(12,377)						232,470						330,058
Provision for credit losses			(66,611)						(70,566)						16						—						—						—						(66,595)						(70,566)
Non-interest expense			(142,563)						(196,636)						(16,650)						(25,127)						8,134						12,377						(151,079)						(209,386)
Income (Loss) before income tax benefit (expense)			18,543						57,865						(3,747)						(7,759)						—						—						14,796						50,106
Income tax benefit (expense)			(5,429)						(17,318)						743						85,864						—						63,408						(4,686)						131,954
Net income (loss)			$	13,114					$	40,547					$	(3,004)					$	78,105					$	—					$	63,408					$	10,110					$	182,060
Capital expenditures			$	15,857					$	15,783					$	—					$	—					$	—					$	—					$	15,857					$	15,783
Depreciation and amortization			$	7,073					$	3,510					$	4,565					$	7,047					$	—					$	—					$	11,638					$	10,557

			LendingClub Bank												LendingClub Corporation (Parent only)												Intercompany Eliminations												Consolidated Total
			Six Months Ended June 30,												Six Months Ended June 30,												Six Months Ended June 30,												Six Months Ended June 30,
			2023						2022						2023						2022						2023						2022						2023						2022
Non-interest income:
Marketplace revenue			$	134,694					$	355,922					$	20,880					$	26,298					$	22,843					$	4,130					$	178,417					$	386,350
Other non-interest income			40,904						39,539						4,984						8,137						(39,497)						(30,337)						6,391						17,339
Total non-interest income			175,598						395,461						25,864						34,435						(16,654)						(26,207)						184,808						403,689
Interest income:
Interest income			408,844						219,975						8,055						20,146						—						—						416,899						240,121
Interest expense			(120,442)						(9,857)						(3,101)						(14,358)						—						—						(123,543)						(24,215)
Net interest income			288,402						210,118						4,954						5,788						—						—						293,356						215,906
Total net revenue			464,000						605,579						30,818						40,223						(16,654)						(26,207)						478,164						619,595
Provision for credit losses			(137,195)						(123,075)						16						—						—						—						(137,179)						(123,075)
Non-interest expense			(290,946)						(375,095)						(34,095)						(51,702)						16,654						26,207						(308,387)						(400,590)
Income (Loss) before income tax benefit (expense)			35,859						107,409						(3,261)						(11,479)						—						—						32,598						95,930
Income tax benefit (expense)			(9,685)						(29,673)						863						103,591						—						53,048						(8,822)						126,966
Net income (loss)			$	26,174					$	77,736					$	(2,398)					$	92,112					$	—					$	53,048					$	23,776					$	222,896
Capital expenditures			$	32,255					$	37,358					$	—					$	—					$	—					$	—					$	32,255					$	37,358
Depreciation and amortization			$	13,967					$	7,010					$	10,025					$	14,586					$	—					$	—					$	23,992					$	21,596

			LendingClub Bank												LendingClub Corporation (Parent only)												Intercompany Eliminations												Consolidated Total
			June 30, 2023						December 31, 2022						June 30, 2023						December 31, 2022						June 30, 2023						December 31, 2022						June 30, 2023						December 31, 2022
Assets
Total cash and cash equivalents			$	1,176,563					$	1,020,874					$	74,632					$	56,475					$	(47,271)					$	(20,319)					$	1,203,924					$	1,057,030
Restricted cash			—						—						41,206						75,409						(6,414)						(7,955)						34,792						67,454
Securities available for sale at fair value			515,466						329,287						8,113						16,415						—						—						523,579						345,702
Loans held for sale at fair value			250,361						110,400						—						—						—						—						250,361						110,400
Loans and leases held for investment, net			5,178,186						4,705,302						—						—						—						—						5,178,186						4,705,302
Loans held for investment at fair value			390,654						906,711						13,465						19,227						—						—						404,119						925,938
Retail and certificate loans held for investment at fair value			—						—						26,837						55,425						—						—						26,837						55,425
Property, equipment and software, net			127,438						102,274						24,170						34,199						—						—						151,608						136,473
Investment in subsidiary			—						—						797,899						755,319						(797,899)						(755,319)						—						—
Goodwill			75,717						75,717						—						—						—						—						75,717						75,717
Other assets			335,118						339,341						177,798						173,851						(19,533)						(12,886)						493,383						500,306
Total assets			8,049,503						7,589,906						1,164,120						1,186,320						(871,117)						(796,479)						8,342,506						7,979,747
Liabilities and Equity
Total deposits			6,897,220						6,420,827						—						—						(53,685)						(28,274)						6,843,535						6,392,553
Borrowings			10,654						64,154						5,021						10,704						—						—						15,675						74,858
Retail notes, certificates and secured borrowings at fair value			—						—						26,837						55,425						—						—						26,837						55,425
Other liabilities			156,563						189,185						113,921						116,318						(19,548)						(12,886)						250,936						292,617
Total liabilities			7,064,437						6,674,166						145,779						182,447						(73,233)						(41,160)						7,136,983						6,815,453
Total equity			985,066						915,740						1,018,341						1,003,873						(797,884)						(755,319)						1,205,523						1,164,294
Total liabilities and equity			$	8,049,503					$	7,589,906					$	1,164,120					$	1,186,320					$	(871,117)					$	(796,479)					$	8,342,506					$	7,979,747

X

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-25

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

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