EXHIBIT 99.1

LendingClub Reports First Quarter 2023 Results

Net Income of $13.7M, Driven by 7% Sequential Increase in Pre-Provision Net Revenue (PPNR)

Deposits Up 13% Sequentially to $7.2B; $1.6B in Cash

SAN FRANCISCO – April 26, 2023 – LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s leading digital marketplace bank, today announced financial results for the first quarter ended March 31, 2023.

“We delivered a solid quarter driven by our strategic advantages, including over 15 years of cycle-tested data, prudent and agile underwriting, and our digital marketplace bank model,” said Scott Sanborn, LendingClub CEO. “While we expect continued industry and macro headwinds, these significant advantages, along with our growing online consumer deposit franchise and high-yielding short duration assets, provide us with a range of options to navigate the current macro environment while we build toward an ambitious future for the company and our growing membership base.”

First Quarter 2023 Results

Balance Sheet:

•Total assets grew 10% sequentially to $8.8 billion from $8.0 billion at December 31, 2022.

•Deposits up 13% sequentially to $7.2 billion; FDIC-insured deposits represent approximately 86% of total deposits.

◦Cash of $1.6 billion increased 55% from December 31, 2022.

◦Available aggregate borrowing capacity of $4.1 billion as of April 26, 2023.

•Loans and leases held for investment portfolio grew 4.6% sequentially from $5.6 billion to $5.9 billion.

•Substantial capital with a consolidated Tier 1 leverage ratio of 12.8% and consolidated Common Equity Tier 1 capital ratio of 15.6%.

•Book value per common share of $11.08, up 1.4% from $10.93 at December 31, 2022.

•Tangible book value per common share of $10.23, up 1.7% from $10.06 at December 31, 2022.

Financial Performance:

•Loan originations were $2.3 billion compared to $2.5 billion in the prior quarter.

•Total net revenue was $245.7 million compared to $262.7 million in the prior quarter, as growth in net interest income was offset by lower marketplace revenue.

◦Net interest income increased 8% from the prior quarter to $146.7 million, primarily due to higher balance sheet growth and partially offset by lower net interest margin due to higher cost of deposits.

◦Marketplace revenue was $95.6 million compared to $123.4 million in the prior quarter, reflecting a reduction in sold marketplace volumes.

•Net income of $13.7 million, or diluted EPS of $0.13, compared to $23.6 million, or diluted EPS of $0.22, in the prior quarter, reflecting higher credit provisioning due to growth in the held-for-investment portfolio as well as higher tax expense.

•Pre-provision net revenue (PPNR) of $88.4 million grew 7% over the prior quarter, driven by the Company’s cost reduction actions and a $9.0 million one-time revenue benefit primarily due to slower prepayments.

•Credit quality of the held-for-investment prime loan portfolio performing in-line with expectations as portfolio seasons; provision for credit losses of $70.6 million primarily reflects $1.0 billion of quarterly loan originations held for investment.

•Efficiency ratio improved to 64.0% from 68.5% in the prior quarter due to cost reduction actions and marketing efficiency.

1

			Three Months Ended
($ in millions, except per share amounts)			March 31, 2023						December 31, 2022						March 31, 2022
Total net revenue			$	245.7					$	262.7					$	289.5
Non-interest expense			157.3						180.0						191.2
Pre-provision net revenue (1)			88.4						82.7						98.3
Provision for credit losses			70.6						61.5						52.5
Income before income tax benefit (expense)			17.8						21.2						45.8
Income tax benefit (expense)			(4.1)						2.4						(5.0)
Net income			$	13.7					$	23.6					$	40.8
Diluted EPS			$	0.13					$	0.22					$	0.39
Income tax benefit from release of tax valuation allowance			$	—					$	3.2					$	—
Net income excluding income tax benefit (1)			$	13.7					$	20.4					$	40.8
Diluted EPS excluding income tax benefit (1)			$	0.13					$	0.19					$	0.39

(1)    See page 3 of this release for additional information on our use of non-GAAP financial measures.

For a calculation of Pre-Provision Net Revenue, Net Income Excluding Income Tax Benefit, Diluted EPS Excluding Income Tax Benefit, and Tangible Book Value Per Common Share, refer to the “Reconciliation of GAAP to Non-GAAP Financial Measures” tables at the end of this release.

Financial Outlook

			Second Quarter 2023
Loan Originations			$1.9B to $2.1B
Pre-Provision Net Revenue (PPNR)			$60M to $70M

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 $80 billion in loans, our advanced 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 4.7 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 first quarter 2023 webcast and teleconference is scheduled to begin at 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time) on Wednesday, April 26, 2023. 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 (404) 975-4839, or outside the U.S. +1 (929) 526-1599, with Access Code 900462, 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 May 3, 2023, by calling +1 (929) 458-6194 or outside the U.S. +44 (204) 525-0658, with Access Code 850910. 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

Non-GAAP Financial Measures

To supplement our financial statements, which are prepared and presented in accordance with GAAP, we use the following non-GAAP financial measures: Pre-Provision Net Revenue, Net Income Excluding Income Tax Benefit, Diluted EPS Excluding Income Tax Benefit, and Tangible Book Value Per Common Share. Our non-GAAP financial measures do have limitations as analytical tools and you should not consider them in isolation or as a substitute for an analysis of our results under GAAP.

We believe these non-GAAP financial measures provide management and investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and enable comparison of our financial results with other public companies.

We believe Pre-Provision Net Revenue, Net Income Excluding Income Tax Benefit and Diluted EPS Excluding Income Tax Benefit are important measures because they reflect the financial performance of our business operations. Pre-Provision Net Revenue is a non-GAAP financial measure calculated by subtracting the provision for credit losses and income tax benefit/expense from net income. Net Income Excluding Income Tax Benefit adjusts for the release of a deferred tax asset valuation allowance in 2022. Diluted EPS Excluding Income Tax Benefit is a non-GAAP financial measure calculated by dividing Net Income Excluding Income Tax Benefit by the weighted-average diluted common shares outstanding.

We believe Tangible Book Value (TBV) Per Common Share is an important measure used to evaluate the company’s use of equity. TBV Per Common Share is a non-GAAP financial measure representing common equity reduced by goodwill and intangible assets, divided by ending common shares issued and outstanding.

3

For a reconciliation of such measures to the nearest GAAP measures, please refer to the tables beginning on page 13 of this release.

Safe Harbor Statement

Some of the statements above, including statements regarding our competitive advantages, macroeconomic outlook, 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; our ability to realize the expected benefits from recent initiatives, including our cost reduction plan and the acquisition of a $1 billion loan portfolio; competition; overall economic conditions; the interest rate environment; 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 Annual Report on Form 10-K, as filed with the Securities and Exchange Commission, as well as in our subsequent filings 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.

*****

4

LENDINGCLUB CORPORATION

OPERATING HIGHLIGHTS

(In thousands, except percentages or as noted)

(Unaudited)

			As of and for the three months ended																														% Change
			March 31, 2023						December 31, 2022						September 30, 2022						June 30, 2022						March 31, 2022						Q/Q						Y/Y
Operating Highlights:
Non-interest income			$	98,990					$	127,465					$	181,237					$	213,832					$	189,857					(22)		%				(48)		%
Net interest income			146,704						135,243						123,676						116,226						99,680						8		%				47		%
Total net revenue			245,694						262,708						304,913						330,058						289,537						(6)		%				(15)		%
Non-interest expense			157,308						180,044						186,219						209,386						191,204						(13)		%				(18)		%
Pre-provision net revenue(1)			88,386						82,664						118,694						120,672						98,333						7		%				(10)		%
Provision for credit losses			70,584						61,512						82,739						70,566						52,509						15		%				34		%
Income before income tax benefit (expense)			17,802						21,152						35,955						50,106						45,824						(16)		%				(61)		%
Income tax benefit (expense)			(4,136)						2,439						7,243						131,954						(4,988)						N/M						(17)		%
Net income			13,666						23,591						43,198						182,060						40,836						(42)		%				(67)		%
Income tax benefit from release of tax valuation allowance			—						3,180						5,015						135,300						—						N/M						N/M
Net income excluding income tax benefit(1)(2)			$	13,666					$	20,411					$	38,183					$	46,760					$	40,836					(33)		%				(67)		%
Basic EPS – common stockholders			$	0.13					$	0.22					$	0.41					$	1.77					$	0.40					(41)		%				(68)		%
Diluted EPS – common stockholders			$	0.13					$	0.22					$	0.41					$	1.73					$	0.39					(41)		%				(67)		%
Diluted EPS excluding income tax benefit(1)(2)			$	0.13					$	0.19					$	0.36					$	0.45					$	0.39					(32)		%				(67)		%
LendingClub Corporation Performance Metrics:
Net interest margin			7.5		%				7.8		%				8.3		%				8.5		%				8.3		%
Efficiency ratio(3)			64.0		%				68.5		%				61.1		%				63.4		%				66.0		%
Return on average equity (ROE)(4)			4.6		%				7.2		%				14.2		%				33.8		%				18.7		%
Return on average total assets (ROA)(5)			0.7		%				1.1		%				2.5		%				5.5		%				3.1		%
Marketing expense as a % of loan originations			1.2		%				1.4		%				1.3		%				1.6		%				1.7		%
LendingClub Corporation Capital Metrics:
Common equity Tier 1 capital ratio			15.6		%				15.8		%				18.3		%				20.0		%				20.6		%
Tier 1 leverage ratio			12.8		%				14.1		%				15.7		%				16.2		%				15.6		%
Book value per common share			$	11.08					$	10.93					$	10.67					$	10.41					$	8.68					1		%				28		%
Tangible book value per common share(1)			$	10.23					$	10.06					$	9.78					$	9.50					$	7.75					2		%				32		%
Loan Originations (in millions)(6):
Total loan originations			$	2,288					$	2,524					$	3,539					$	3,840					$	3,217					(9)		%				(29)		%
Marketplace loans			$	1,286					$	1,824					$	2,386					$	2,819					$	2,360					(29)		%				(46)		%
Loan originations held for investment			$	1,002					$	701					$	1,153					$	1,021					$	856					43		%				17		%
Loan originations held for investment as a % of total loan originations			44		%				28		%				33		%				27		%				27		%
Servicing Portfolio AUM (in millions)(7):
Total servicing portfolio			$	16,060					$	16,157					$	15,929					$	14,783					$	13,341					(1)		%				20		%
Loans serviced for others			$	10,504					$	10,819					$	11,807					$	11,382					$	10,475					(3)		%				—		%

5

LENDINGCLUB CORPORATION

OPERATING HIGHLIGHTS (Continued)

(In thousands, except percentages or as noted)

(Unaudited)

			As of and for the three months ended																														% Change
			March 31, 2023						December 31, 2022						September 30, 2022						June 30, 2022						March 31, 2022						Q/Q						Y/Y
Balance Sheet Data:
Loans and leases held for investment at amortized cost, net, excluding PPP loans			$	5,091,969					$	4,638,331					$	4,414,347					$	3,692,667					$	3,049,325					10		%				67		%
PPP loans			$	51,112					$	66,971					$	89,379					$	118,794					$	184,986					(24)		%				(72)		%
Total loans and leases held for investment at amortized cost, net(8)			$	5,143,081					$	4,705,302					$	4,503,726					$	3,811,461					$	3,234,311					9		%				59		%
Loans held for investment at fair value			$	748,618					$	925,938					$	15,057					$	20,583					$	15,384					(19)		%				4,766		%
Total loans and leases held for investment			$	5,891,699					$	5,631,240					$	4,518,783					$	3,832,044					$	3,249,695					5		%				81		%
Total assets			$	8,754,018					$	7,979,747					$	6,775,074					$	6,186,765					$	5,574,425					10		%				57		%
Total deposits			$	7,218,854					$	6,392,553					$	5,123,506					$	4,527,672					$	3,977,477					13		%				81		%
Total liabilities			$	7,563,276					$	6,815,453					$	5,653,664					$	5,107,648					$	4,686,991					11		%				61		%
Total equity			$	1,190,742					$	1,164,294					$	1,121,410					$	1,079,117					$	887,434					2		%				34		%

N/M – Not meaningful

(1)    Represents a non-GAAP financial measure. See “Reconciliation of GAAP to Non-GAAP Financial Measures.”

(2)    Excludes fourth, third and second quarter 2022 income tax benefit of $3.2 million, $5.0 million and $135.3 million, respectively, due to the release of a deferred tax asset valuation allowance.

(3)    Calculated as the ratio of non-interest expense to total net revenue.

(4)    Calculated as annualized net income (which excludes the income tax benefit from the release of the deferred tax asset valuation allowance in the periods it did not occur) divided by average equity for the period presented.

(5)    Calculated as annualized net income (which excludes the income tax benefit from the release of the deferred tax asset valuation allowance in the periods it did not occur) divided by average total assets for the period presented.

(6)    Includes unsecured personal loans and auto loans only.

(7)    Loans serviced on our platform, which includes unsecured personal loans, auto loans and education and patient finance loans serviced for others and held for investment by the company.

(8)    Excludes loans held for investment at fair value, which primarily consists of a loan portfolio that was acquired in the fourth quarter of 2022.

The asset quality metrics presented in the following table are for loans and leases held for investment at amortized cost and do not reflect loans held for investment at fair value:

			As of and for the three months ended
			March 31, 2023						December 31, 2022						September 30, 2022						June 30, 2022						March 31, 2022
Asset Quality Metrics:
Allowance for loan and lease losses to total loans and leases held for investment			6.4		%				6.5		%				6.3		%				6.0		%				5.5		%
Allowance for loan and lease losses to consumer loans and leases held for investment			7.1		%				7.3		%				7.2		%				6.9		%				6.6		%
Allowance for loan and lease losses to commercial loans and leases held for investment			2.0		%				2.0		%				1.9		%				2.0		%				1.8		%
Net charge-offs			$	49,845					$	37,148					$	22,658					$	14,778					$	8,632
Net charge-off ratio(1)			3.8		%				3.0		%				2.1		%				1.6		%				1.2		%

(1)    Net charge-off ratio is calculated as annualized net charge-offs divided by average outstanding loans and leases held for investment during the period, excluding PPP loans.

6

LENDINGCLUB CORPORATION

LOANS AND LEASES HELD FOR INVESTMENT

(In thousands)

(Unaudited)

The following table presents loans and leases held for investment at amortized cost and loans held for investment at fair value:

			March 31, 2023						December 31, 2022
Unsecured personal			$	4,319,148					$	3,866,373
Residential mortgages			197,728						199,601
Secured consumer			212,748						194,634
Total consumer loans held for investment			4,729,624						4,260,608
Equipment finance (1)			153,905						160,319
Commercial real estate			372,770						373,501
Commercial and industrial (2)			235,639						238,726
Total commercial loans and leases held for investment			762,314						772,546
Total loans and leases held for investment at amortized cost			5,491,938						5,033,154
Allowance for loan and lease losses			(348,857)						(327,852)
Loans and leases held for investment at amortized cost, net			$	5,143,081					$	4,705,302
Loans held for investment at fair value			748,618						925,938
Total loans and leases held for investment			$	5,891,699					$	5,631,240

(1)    Comprised of sales-type leases for equipment.

(2)    Includes $51.1 million and $67.0 million of Paycheck Protection Program (PPP) loans as of March 31, 2023 and December 31, 2022, 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)

(Unaudited)

The following tables present the allowance for loan and lease losses on loans and leases held for investment at amortized cost and do not reflect loans held for investment at fair value:

			Three Months Ended
			March 31, 2023																		December 31, 2022
			Consumer						Commercial						Total						Consumer						Commercial						Total
Allowance for loan and lease losses, beginning of period			$	312,489					$	15,363					$	327,852					$	288,138					$	15,063					$	303,201
Credit loss expense for loans and leases held for investment			70,684						166						70,850						61,392						407						61,799
Charge-offs			(52,212)						(351)						(52,563)						(38,579)						(225)						(38,804)
Recoveries			2,585						133						2,718						1,538						118						1,656
Allowance for loan and lease losses, end of period			$	333,546					$	15,311					$	348,857					$	312,489					$	15,363					$	327,852

			Three Months Ended
			March 31, 2022
			Consumer						Commercial						Total
Allowance for loan and lease losses, beginning of period			$	128,812					$	15,577					$	144,389
Credit loss expense for loans and leases held for investment			53,718						(1,490)						52,228
Charge-offs			(9,017)						(72)						(9,089)
Recoveries			344						113						457
Allowance for loan and lease losses, end of period			$	173,857					$	14,128					$	187,985

7

LENDINGCLUB CORPORATION

PAST DUE LOANS AND LEASES HELD FOR INVESTMENT

(In thousands)

(Unaudited)

The following tables present past due loans and leases held for investment at amortized cost and do not reflect loans held for investment at fair value:

March 31, 2023			30-59 Days						60-89 Days						90 or More Days						Total Days Past Due
Unsecured personal			$	26,941					$	19,759					$	18,984					$	65,684
Residential mortgages			230						—						167						397
Secured consumer			1,922						260						187						2,369
Total consumer loans held for investment			$	29,093					$	20,019					$	19,338					$	68,450
Equipment finance			$	3,020					$	—					$	771					$	3,791
Commercial real estate			8,251						2,112						103						10,466
Commercial and industrial (1)			941						—						1,608						2,549
Total commercial loans and leases held for investment (1)			$	12,212					$	2,112					$	2,482					$	16,806
Total loans and leases held for investment at amortized cost (1)			$	41,305					$	22,131					$	21,820					$	85,256

December 31, 2022			30-59 Days						60-89 Days						90 or More Days						Total Days Past Due
Unsecured personal			$	21,016					$	16,418					$	16,255					$	53,689
Residential mortgages			—						254						331						585
Secured consumer			1,720						382						188						2,290
Total consumer loans held for investment			$	22,736					$	17,054					$	16,774					$	56,564
Equipment finance			$	3,172					$	—					$	859					$	4,031
Commercial real estate			—						102						—						102
Commercial and industrial (1)			—						—						1,643						1,643
Total commercial loans and leases held for investment (1)			$	3,172					$	102					$	2,502					$	5,776
Total loans and leases held for investment at amortized cost (1)			$	25,908					$	17,156					$	19,276					$	62,340

(1)    Past due PPP loans are excluded from the tables.

8

LENDINGCLUB CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except share and per share data)

(Unaudited)

			Three Months Ended																		Change (%)
			March 31, 2023						December 31, 2022						March 31, 2022						Q1 2023 vs Q4 2022						Q1 2023 vs Q1 2022
Non-interest income:
Origination fees			$	70,543					$	100,692					$	122,093					(30)		%				(42)		%
Servicing fees			26,380						20,169						18,514						31		%				42		%
Gain on sales of loans			14,125						18,352						24,110						(23)		%				(41)		%
Net fair value adjustments			(15,414)						(15,774)						15,249						(2)		%				(201)		%
Marketplace revenue			95,634						123,439						179,966						(23)		%				(47)		%
Other non-interest income			3,356						4,026						9,891						(17)		%				(66)		%
Total non-interest income			98,990						127,465						189,857						(22)		%				(48)		%
Total interest income			202,413						173,999						111,653						16		%				81		%
Total interest expense			55,709						38,756						11,973						44		%				365		%
Net interest income			146,704						135,243						99,680						8		%				47		%
Total net revenue			245,694						262,708						289,537						(6)		%				(15)		%
Provision for credit losses			70,584						61,512						52,509						15		%				34		%
Non-interest expense:
Compensation and benefits			73,307						87,768						81,610						(16)		%				(10)		%
Marketing			26,880						35,139						55,080						(24)		%				(51)		%
Equipment and software			13,696						13,200						11,046						4		%				24		%
Depreciation and amortization			12,354						11,554						11,039						7		%				12		%
Professional services			9,058						10,029						12,406						(10)		%				(27)		%
Occupancy			4,310						4,698						6,019						(8)		%				(28)		%
Other non-interest expense			17,703						17,656						14,004						—		%				26		%
Total non-interest expense			157,308						180,044						191,204						(13)		%				(18)		%
Income before income tax benefit (expense)			17,802						21,152						45,824						(16)		%				(61)		%
Income tax benefit (expense)			(4,136)						2,439						(4,988)						N/M						(17)		%
Net income			$	13,666					$	23,591					$	40,836					(42)		%				(67)		%
Net income per share:
Basic EPS – common stockholders			$	0.13					$	0.22					$	0.40					(41)		%				(68)		%
Diluted EPS – common stockholders			$	0.13					$	0.22					$	0.39					(41)		%				(67)		%
Weighted-average common shares – Basic			106,912,139						105,650,177						101,493,561						1		%				5		%
Weighted-average common shares – Diluted			106,917,770						105,984,612						105,052,904						1		%				2		%

N/M – Not meaningful

9

LENDINGCLUB CORPORATION

NET INTEREST INCOME

(In thousands, except percentages or as noted)

(Unaudited)

			Consolidated LendingClub Corporation (1)
			Three Months Ended March 31, 2023																		Three Months Ended December 31, 2022																		Three Months Ended March 31, 2022
			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 (2)
Cash, cash equivalents, restricted cash and other			$	1,220,677					$	13,714					4.49		%				$	1,139,887					$	10,595					3.72		%				$	892,921					$	688					0.31		%
Securities available for sale at fair value			362,960						3,900						4.30		%				349,512						3,359						3.84		%				325,155						4,511						5.55		%
Loans held for sale at fair value			110,580						5,757						20.83		%				114,851						5,724						19.93		%				255,139						7,450						11.68		%
Loans and leases held for investment:
Unsecured personal loans			4,066,713						133,687						13.15		%				3,825,808						125,872						13.16		%				2,060,323						78,376						15.22		%
Commercial and other consumer loans			1,175,504						16,780						5.71		%				1,164,326						15,197						5.22		%				1,075,412						13,066						4.86		%
Loans and leases held for investment at amortized cost			5,242,217						150,467						11.48		%				4,990,134						141,069						11.31		%				3,135,735						91,442						11.66		%
Loans held for investment at fair value			836,313						26,892						12.86		%				308,570						10,862						14.08		%				18,523						593						12.80		%
Total loans and leases held for investment			6,078,530						177,359						11.67		%				5,298,704						151,931						11.47		%				3,154,258						92,035						11.67		%
Retail and certificate loans held for investment at fair value			46,525						1,683						14.47		%				66,469						2,390						14.38		%				198,813						6,969						14.02		%
Total interest-earning assets			7,819,272						202,413						10.35		%				6,969,423						173,999						9.99		%				4,826,286						111,653						9.25		%
Cash and due from banks and restricted cash			71,878																		64,907																		92,683
Allowance for loan and lease losses			(338,359)																		(314,861)																		(163,631)
Other non-interest earning assets			666,650																		613,664																		486,363
Total assets			$	8,219,441																	$	7,333,133																	$	5,241,701
Interest-bearing liabilities
Interest-bearing deposits:
Checking and money market accounts			$	1,633,691					$	7,568					1.88		%				$	1,929,260					$	7,500					1.54		%				$	2,240,450					$	1,724					0.31		%
Savings accounts and certificates of deposit			4,747,478						45,705						3.90		%				3,576,205						28,251						3.13		%				1,071,133						1,714						0.64		%
Interest-bearing deposits			6,381,169						53,273						3.39		%				5,505,465						35,751						2.58		%				3,311,583						3,438						0.42		%
Retail notes, certificates and secured borrowings			46,525						1,683						14.47		%				66,469						2,390						14.38		%				198,813						6,969						14.02		%
Other interest-bearing liabilities			107,520						753						2.80		%				105,834						615						2.33		%				312,690						1,566						2.00		%
Total interest-bearing liabilities			6,535,214						55,709						3.46		%				5,677,768						38,756						2.71		%				3,823,086						11,973						1.25		%
Non-interest bearing deposits			241,954																		251,686																		227,337
Other liabilities			263,868																		266,558																		319,241
Total liabilities			$	7,041,036																	$	6,196,012																	$	4,369,664

10

LENDINGCLUB CORPORATION

NET INTEREST INCOME (Continued)

(In thousands, except percentages or as noted)

(Unaudited)

			Consolidated LendingClub Corporation (1)
			Three Months Ended March 31, 2023																		Three Months Ended December 31, 2022																		Three Months Ended March 31, 2022
			Average Balance						Interest Income/ Expense						Average Yield/ Rate						Average Balance						Interest Income/ Expense						Average Yield/ Rate						Average Balance						Interest Income/ Expense						Average Yield/ Rate
Total equity			$	1,178,405																	$	1,137,121																	$	872,037
Total liabilities and equity			$	8,219,441																	$	7,333,133																	$	5,241,701
Interest rate spread															6.90		%																7.28		%																8.00		%
Net interest income and net interest margin									$	146,704					7.50		%										$	135,243					7.76		%										$	99,680					8.26		%

(1)    Consolidated presentation reflects intercompany eliminations.

(2)    Nonaccrual loans and any related income are included in their respective loan categories.

11

LENDINGCLUB CORPORATION

CONSOLIDATED BALANCE SHEETS

(In Thousands, Except Share and Per Share Amounts)

(Unaudited)

			March 31, 2023						December 31, 2022
Assets
Cash and due from banks			$	22,732					$	23,125
Interest-bearing deposits in banks			1,614,265						1,033,905
Total cash and cash equivalents			1,636,997						1,057,030
Restricted cash			47,342						67,454
Securities available for sale at fair value ($428,395 and $399,668 at amortized cost, respectively)			380,028						345,702
Loans held for sale at fair value			44,647						110,400
Loans and leases held for investment			5,491,938						5,033,154
Allowance for loan and lease losses			(348,857)						(327,852)
Loans and leases held for investment, net			5,143,081						4,705,302
Loans held for investment at fair value			748,618						925,938
Retail and certificate loans held for investment at fair value			38,855						55,425
Property, equipment and software, net			144,041						136,473
Goodwill			75,717						75,717
Other assets			494,692						500,306
Total assets			$	8,754,018					$	7,979,747
Liabilities and Equity
Deposits:
Interest-bearing			$	7,018,014					$	6,158,560
Noninterest-bearing			200,840						233,993
Total deposits			7,218,854						6,392,553
Borrowings			52,980						74,858
Retail notes, certificates and secured borrowings at fair value			38,855						55,425
Other liabilities			252,587						292,617
Total liabilities			7,563,276						6,815,453
Equity
Series A Preferred stock, $0.01 par value; 1,200,000 shares authorized; 0 shares issued and outstanding			—						—
Common stock, $0.01 par value; 180,000,000 shares authorized; 107,460,734 and 106,546,995 shares issued and outstanding, respectively			1,075						1,065
Additional paid-in capital			1,637,283						1,628,590
Accumulated deficit			(414,079)						(427,745)
Accumulated other comprehensive loss			(33,537)						(37,616)
Total equity			1,190,742						1,164,294
Total liabilities and equity			$	8,754,018					$	7,979,747

12

LENDINGCLUB CORPORATION

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(In thousands, except share and per share data)

(Unaudited)

Pre-Provision Net Revenue

						For the three months ended
						March 31, 2023						December 31, 2022						September 30, 2022						June 30, 2022						March 31, 2022
GAAP Net income						$	13,666					$	23,591					$	43,198					$	182,060					$	40,836
Less: Provision for credit losses						(70,584)						(61,512)						(82,739)						(70,566)						(52,509)
Less: Income tax benefit (expense)						(4,136)						2,439						7,243						131,954						(4,988)
Pre-provision net revenue						$	88,386					$	82,664					$	118,694					$	120,672					$	98,333

						For the three months ended
						March 31, 2023						December 31, 2022						September 30, 2022						June 30, 2022						March 31, 2022
Non-interest income						$	98,990					$	127,465					$	181,237					$	213,832					$	189,857
Net interest income						146,704						135,243						123,676						116,226						99,680
Total net revenue						245,694						262,708						304,913						330,058						289,537
Non-interest expense						(157,308)						(180,044)						(186,219)						(209,386)						(191,204)
Pre-provision net revenue						88,386						82,664						118,694						120,672						98,333
Provision for credit losses						(70,584)						(61,512)						(82,739)						(70,566)						(52,509)
Income before income tax benefit (expense)						17,802						21,152						35,955						50,106						45,824
Income tax benefit (expense)						(4,136)						2,439						7,243						131,954						(4,988)
GAAP Net income						$	13,666					$	23,591					$	43,198					$	182,060					$	40,836

Net Income Excluding Income Tax Benefit and Diluted EPS Excluding Income Tax Benefit

						For the three months ended
						December 31, 2022						September 30, 2022						June 30, 2022
GAAP Net income						$	23,591					$	43,198					$	182,060
Less: Income tax benefit from release of tax valuation allowance						3,180						5,015						135,300
Net income excluding income tax benefit						$	20,411					$	38,183					$	46,760
GAAP Diluted EPS – common stockholders						$	0.22					$	0.41					$	1.73
(A)			Income tax benefit from release of tax valuation allowance			$	3,180					$	5,015					$	135,300
(B)			Weighted-average common shares – Diluted			105,984,612						105,853,938						105,042,626
(A/B)			Diluted EPS impact of income tax benefit			$	0.03					$	0.05					$	1.29
Diluted EPS excluding income tax benefit						$	0.19					$	0.36					$	0.44

13

LENDINGCLUB CORPORATION

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (Continued)

(In thousands, except share and per share data)

(Unaudited)

Tangible Book Value Per Common Share

			March 31, 2023						December 31, 2022						September 30, 2022						June 30, 2022						March 31, 2022
GAAP common equity			$	1,190,742					$	1,164,294					$	1,121,410					$	1,079,117					$	887,434
Less: Goodwill			(75,717)						(75,717)						(75,717)						(75,717)						(75,717)
Less: Intangible assets			(15,201)						(16,334)						(17,512)						(18,690)						(19,886)
Tangible common equity			$	1,099,824					$	1,072,243					$	1,028,181					$	984,710					$	791,831
Book value per common share
GAAP common equity			$	1,190,742					$	1,164,294					$	1,121,410					$	1,079,117					$	887,434
Common shares issued and outstanding			107,460,734						106,546,995						105,088,761						103,630,776						102,194,037
Book value per common share			$	11.08					$	10.93					$	10.67					$	10.41					$	8.68
Tangible book value per common share
Tangible common equity			$	1,099,824					$	1,072,243					$	1,028,181					$	984,710					$	791,831
Common shares issued and outstanding			107,460,734						106,546,995						105,088,761						103,630,776						102,194,037
Tangible book value per common share			$	10.23					$	10.06					$	9.78					$	9.50					$	7.75

14