EXHIBIT 99.1

LendingClub Reports Third Quarter 2023 Results

Continued GAAP Profitability With Strong Capital & Liquidity Levels

Doubles Issuance of Structured Certificates With New Buyers Added to Platform

SAN FRANCISCO – October 25, 2023 – LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s leading digital marketplace bank, today announced financial results for the third quarter ended September 30, 2023.

“Our disciplined execution has resulted in our tenth consecutive quarter of GAAP profitability. We are successfully leveraging our proprietary structured certificates program to drive marketplace issuance, while also taking difficult but necessary actions to align our expense base to current market conditions,” said Scott Sanborn, LendingClub CEO. “Looking ahead, these actions combined with our strong foundation and capital base have us well positioned to capture a historic refinance opportunity as market conditions stabilize.”

Third Quarter 2023 Results

Balance Sheet:

•Total assets of $8.5 billion compared to $8.3 billion in the prior quarter, primarily reflecting growth in securities related to the structured certificate program.

•Deposits of $7.0 billion compared to $6.8 billion in the prior quarter, primarily due to an increase in customer certificates of deposit.

◦FDIC-insured deposits represent approximately 86% of total deposits.

•Loans and leases held for investment of $5.2 billion compared to $5.6 billion in the prior quarter as the Company grew the structured certificate and extended seasoning programs while retaining fewer held for investment loans.

•Strong capital position with a consolidated Tier 1 leverage ratio of 13.2% and consolidated Common Equity Tier 1 capital ratio of 16.9%.

•Book value per common share of $11.02 compared to $11.09 in the prior quarter.

•Tangible book value per common share of $10.21 compared to $10.26 in the prior quarter.

Financial Performance:

•Loan originations of $1.5 billion compared to $2.0 billion in the prior quarter as a result of reduced purchases by bank loan investors.

•Total net revenue of $200.8 million compared to $232.5 million in the prior quarter due to:

◦Marketplace revenue of $60.9 million compared to $82.8 million in the prior quarter, primarily reflecting lower pricing on sold marketplace volumes, partially offset by a one-time benefit related to recouping volume-based purchase incentives from the bank investor channel.

◦Net interest income of $137.0 million compared to $146.7 million in the prior quarter reflecting a lower balance of held for investment loans and higher deposit funding costs.

•Net income of $5.0 million, or diluted EPS of $0.05, compared to $10.1 million, or diluted EPS of $0.09, in the prior quarter.

•Pre-provision net revenue (PPNR) of $72.8 million compared to $81.4 million in the prior quarter. PPNR in the third quarter of 2023 is inclusive of:

◦A non-recurring $10.4 million revenue benefit related to customer forfeitures of purchase incentives from the bank investor channel

◦A non-recurring $8.9 million benefit from lower accrued variable compensation

◦Severance charges of $5.4 million, partially offset by a $4.0 million reversal of previously accrued compensation

•Provision for credit losses of $64.5 million compared to $66.6 million in the prior quarter driven by lower volume of retained loans, offset by an increase in provision on the Held for Investment loan portfolio.

•Efficiency ratio improved to 63.7% compared to 65.0% in the prior quarter, driven by lower non-interest expense.

1

			Three Months Ended
($ in millions, except per share amounts)			September 30, 2023						June 30, 2023						September 30, 2022
Total net revenue			$	200.8					$	232.5					$	304.9
Non-interest expense			128.0						151.1						186.2
Pre-provision net revenue (1)			72.8						81.4						118.7
Provision for credit losses			64.5						66.6						82.7
Income before income tax benefit (expense)			8.3						14.8						36.0
Income tax benefit (expense)			(3.3)						(4.7)						7.2
Net income			$	5.0					$	10.1					$	43.2
Diluted EPS			$	0.05					$	0.09					$	0.41
Income tax benefit from release of tax valuation allowance			$	—					$	—					$	5.0
Net income excluding income tax benefit (1)			$	5.0					$	10.1					$	38.2
Diluted EPS excluding income tax benefit (1)			$	0.05					$	0.09					$	0.36

(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

			Fourth Quarter 2023
Loan Originations			$1.5B to $1.7B
Pre-Provision Net Revenue (PPNR)			$35M to $45M

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 $90 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 third 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, October 25, 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 (833) 470-1428, with Access Code 896211, 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 November 1, 2023, by calling +1 (929) 458-6194 or outside the U.S. +1 (833) 470-1428, with Access Code 963754. LendingClub has used, and intends to use, its investor relations website, blog (http://blog.lendingclub.com), Twitter handles (@LendingClub and @LendingClubIR) 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 borrowers and platform investors; our ability to realize the expected benefits from recent initiatives; competition; overall economic conditions; the interest rate environment; the regulatory environment; 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
			September 30, 2023						June 30, 2023						March 31, 2023						December 31, 2022						September 30, 2022						Q/Q						Y/Y
Operating Highlights:
Non-interest income			$	63,844					$	85,818					$	98,990					$	127,465					$	181,237					(26)		%				(65)		%
Net interest income			137,005						146,652						146,704						135,243						123,676						(7)		%				11		%
Total net revenue			200,849						232,470						245,694						262,708						304,913						(14)		%				(34)		%
Non-interest expense			128,035						151,079						157,308						180,044						186,219						(15)		%				(31)		%
Pre-provision net revenue(1)			72,814						81,391						88,386						82,664						118,694						(11)		%				(39)		%
Provision for credit losses			64,479						66,595						70,584						61,512						82,739						(3)		%				(22)		%
Income before income tax benefit (expense)			8,335						14,796						17,802						21,152						35,955						(44)		%				(77)		%
Income tax benefit (expense)			(3,327)						(4,686)						(4,136)						2,439						7,243						(29)		%				N/M
Net income			5,008						10,110						13,666						23,591						43,198						(50)		%				(88)		%
Income tax benefit from release of tax valuation allowance			—						—						—						3,180						5,015						N/M						N/M
Net income excluding income tax benefit(1)(2)			$	5,008					$	10,110					$	13,666					$	20,411					$	38,183					(50)		%				(87)		%
Basic EPS			$	0.05					$	0.09					$	0.13					$	0.22					$	0.41					(44)		%				(88)		%
Diluted EPS			$	0.05					$	0.09					$	0.13					$	0.22					$	0.41					(44)		%				(88)		%
Diluted EPS excluding income tax benefit(1)(2)			$	0.05					$	0.09					$	0.13					$	0.19					$	0.36					(44)		%				(86)		%
LendingClub Corporation Performance Metrics:
Net interest margin			6.9		%				7.1		%				7.5		%				7.8		%				8.3		%
Efficiency ratio(3)			63.7		%				65.0		%				64.0		%				68.5		%				61.1		%
Return on average equity (ROE)(4)			1.7		%				3.4		%				4.6		%				7.2		%				14.2		%
Return on average total assets (ROA)(5)			0.2		%				0.5		%				0.7		%				1.1		%				2.5		%
Marketing expense as a % of loan originations			1.3		%				1.2		%				1.2		%				1.4		%				1.3		%
LendingClub Corporation Capital Metrics:
Common equity Tier 1 capital ratio			16.9		%				16.1		%				15.6		%				15.8		%				18.3		%
Tier 1 leverage ratio			13.2		%				12.4		%				12.8		%				14.1		%				15.7		%
Book value per common share			$	11.02					$	11.09					$	11.08					$	10.93					$	10.67					(1)		%				3		%
Tangible book value per common share(1)			$	10.21					$	10.26					$	10.23					$	10.06					$	9.78					—		%				4		%
Loan Originations (in millions)(6):
Total loan originations			$	1,508					$	2,011					$	2,288					$	2,524					$	3,539					(25)		%				(57)		%
Marketplace loans			$	1,182					$	1,353					$	1,286					$	1,824					$	2,386					(13)		%				(50)		%
Loan originations held for investment			$	326					$	657					$	1,002					$	701					$	1,153					(50)		%				(72)		%
Loan originations held for investment as a % of total loan originations			22		%				33		%				44		%				28		%				33		%
Servicing Portfolio AUM (in millions)(7):
Total servicing portfolio			$	14,818					$	15,669					$	16,060					$	16,157					$	15,929					(5)		%				(7)		%
Loans serviced for others			$	9,601					$	10,204					$	10,504					$	10,819					$	11,807					(6)		%				(19)		%

5

LENDINGCLUB CORPORATION

OPERATING HIGHLIGHTS (Continued)

(In thousands, except percentages or as noted)

(Unaudited)

			As of and for the three months ended																														% Change
			September 30, 2023						June 30, 2023						March 31, 2023						December 31, 2022						September 30, 2022						Q/Q						Y/Y
Balance Sheet Data:
Loans and leases held for investment at amortized cost, net, excluding PPP loans			$	4,879,222					$	5,160,546					$	5,091,969					$	4,638,331					$	4,414,347					(5)		%				11		%
PPP loans			$	7,560					$	17,640					$	51,112					$	66,971					$	89,379					(57)		%				(92)		%
Total loans and leases held for investment at amortized cost, net(8)			$	4,886,782					$	5,178,186					$	5,143,081					$	4,705,302					$	4,503,726					(6)		%				9		%
Loans held for investment at fair value			$	326,299					$	404,119					$	748,618					$	925,938					$	15,057					(19)		%				N/M
Total loans and leases held for investment			$	5,213,081					$	5,582,305					$	5,891,699					$	5,631,240					$	4,518,783					(7)		%				15		%
Total assets			$	8,472,351					$	8,342,506					$	8,754,018					$	7,979,747					$	6,775,074					2		%				25		%
Total deposits			$	7,000,263					$	6,843,535					$	7,218,854					$	6,392,553					$	5,123,506					2		%				37		%
Total liabilities			$	7,264,132					$	7,136,983					$	7,563,276					$	6,815,453					$	5,653,664					2		%				28		%
Total equity			$	1,208,219					$	1,205,523					$	1,190,742					$	1,164,294					$	1,121,410					—		%				8		%

N/M – Not meaningful

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

(2)    Excludes fourth and third quarter 2022 income tax benefit of $3.2 million and $5.0 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
			September 30, 2023						June 30, 2023						March 31, 2023						December 31, 2022						September 30, 2022
Asset Quality Metrics:
Allowance for loan and lease losses to total loans and leases held for investment			6.7		%				6.4		%				6.4		%				6.5		%				6.3		%
Allowance for loan and lease losses to consumer loans and leases held for investment			7.4		%				7.1		%				7.1		%				7.3		%				7.2		%
Allowance for loan and lease losses to commercial loans and leases held for investment			2.0		%				1.9		%				2.0		%				2.0		%				1.9		%
Net charge-offs			$	68,795					$	59,884					$	49,845					$	37,148					$	22,658
Net charge-off ratio(1)			5.1		%				4.4		%				3.8		%				3.0		%				2.1		%

(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:

			September 30, 2023						December 31, 2022
Unsecured personal			$	4,094,748					$	3,866,373
Residential mortgages			186,510						199,601
Secured consumer			254,105						194,634
Total consumer loans held for investment			4,535,363						4,260,608
Equipment finance (1)			125,289						160,319
Commercial real estate			373,246						373,501
Commercial and industrial (2)			203,379						238,726
Total commercial loans and leases held for investment			701,914						772,546
Total loans and leases held for investment at amortized cost			5,237,277						5,033,154
Allowance for loan and lease losses			(350,495)						(327,852)
Loans and leases held for investment at amortized cost, net			$	4,886,782					$	4,705,302
Loans held for investment at fair value			326,299						925,938
Total loans and leases held for investment			$	5,213,081					$	5,631,240

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

(2)    Includes $7.6 million and $67.0 million of Paycheck Protection Program (PPP) loans as of September 30, 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
			September 30, 2023																		June 30, 2023
			Consumer						Commercial						Total						Consumer						Commercial						Total
Allowance for loan and lease losses, beginning of period			$	341,161					$	14,002					$	355,163					$	333,546					$	15,311					$	348,857
Credit loss expense for loans and leases held for investment			63,733						394						64,127						66,874						(684)						66,190
Charge-offs			(73,644)						(534)						(74,178)						(63,345)						(924)						(64,269)
Recoveries			5,038						345						5,383						4,086						299						4,385
Allowance for loan and lease losses, end of period			$	336,288					$	14,207					$	350,495					$	341,161					$	14,002					$	355,163

			Three Months Ended
			September 30, 2022
			Consumer						Commercial						Total
Allowance for loan and lease losses, beginning of period			$	228,184					$	15,076					$	243,260
Credit loss expense for loans and leases held for investment			81,935						664						82,599
Charge-offs			(22,944)						(784)						(23,728)
Recoveries			963						107						1,070
Allowance for loan and lease losses, end of period			$	288,138					$	15,063					$	303,201

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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:

September 30, 2023			30-59 Days						60-89 Days						90 or More Days						Total Days Past Due
Unsecured personal			$	33,476					$	26,668					$	29,398					$	89,542
Residential mortgages			—						—						163						163
Secured consumer			1,678						790						209						2,677
Total consumer loans held for investment			$	35,154					$	27,458					$	29,770					$	92,382
Equipment finance			$	—					$	3,150					$	—					$	3,150
Commercial real estate			4,493						434						1,618						6,545
Commercial and industrial (1)			1,514						29						1,515						3,058
Total commercial loans and leases held for investment (1)			$	6,007					$	3,613					$	3,133					$	12,753
Total loans and leases held for investment at amortized cost (1)			$	41,161					$	31,071					$	32,903					$	105,135

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.

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LENDINGCLUB CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(In thousands, except share and per share data)

(Unaudited)

			Three Months Ended																		Change (%)
			September 30, 2023						June 30, 2023						September 30, 2022						Q3 2023 vs Q2 2023						Q3 2023 vs Q3 2022
Non-interest income:
Origination fees			$	60,912					$	70,989					$	127,142					(14)		%				(52)		%
Servicing fees			32,768						22,015						23,760						49		%				38		%
Gain on sales of loans			8,572						13,221						23,554						(35)		%				(64)		%
Net fair value adjustments			(41,366)						(23,442)						(619)						76		%				N/M
Marketplace revenue			60,886						82,783						173,837						(26)		%				(65)		%
Other non-interest income			2,958						3,035						7,400						(3)		%				(60)		%
Total non-interest income			63,844						85,818						181,237						(26)		%				(65)		%
Total interest income			207,412						214,486						143,220						(3)		%				45		%
Total interest expense			70,407						67,834						19,544						4		%				260		%
Net interest income			137,005						146,652						123,676						(7)		%				11		%
Total net revenue			200,849						232,470						304,913						(14)		%				(34)		%
Provision for credit losses			64,479						66,595						82,739						(3)		%				(22)		%
Non-interest expense:
Compensation and benefits			58,497						71,553						84,916						(18)		%				(31)		%
Marketing			19,555						23,940						46,031						(18)		%				(58)		%
Equipment and software			12,631						13,968						12,491						(10)		%				1		%
Depreciation and amortization			11,250						11,638						10,681						(3)		%				5		%
Professional services			8,414						9,974						11,943						(16)		%				(30)		%
Occupancy			4,612						4,684						5,051						(2)		%				(9)		%
Other non-interest expense			13,076						15,322						15,106						(15)		%				(13)		%
Total non-interest expense			128,035						151,079						186,219						(15)		%				(31)		%
Income before income tax benefit (expense)			8,335						14,796						35,955						(44)		%				(77)		%
Income tax benefit (expense)			(3,327)						(4,686)						7,243						(29)		%				N/M
Net income			$	5,008					$	10,110					$	43,198					(50)		%				(88)		%
Net income per share:
Basic EPS			$	0.05					$	0.09					$	0.41					(44)		%				(88)		%
Diluted EPS			$	0.05					$	0.09					$	0.41					(44)		%				(88)		%
Weighted-average common shares – Basic			109,071,180						107,892,590						104,215,594						1		%				5		%
Weighted-average common shares – Diluted			109,073,194						107,895,072						105,853,938						1		%				3		%

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 September 30, 2023																		Three Months Ended June 30, 2023																		Three Months Ended September 30, 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			$	1,249,087					$	16,798					5.38		%				$	1,512,700					$	19,134					5.06		%				$	893,655					$	5,017					2.25		%
Securities available for sale at fair value			601,512						9,467						6.30		%				437,473						5,948						5.44		%				396,556						3,820						3.85		%
Loans held for sale at fair value			286,111						9,582						13.40		%				106,865						4,433						16.59		%				126,487						5,879						18.59		%
Loans and leases held for investment:
Unsecured personal loans			4,257,360						142,118						13.35		%				4,360,506						145,262						13.33		%				3,268,649						110,446						13.52		%
Commercial and other consumer loans			1,147,130						16,842						5.87		%				1,156,751						16,823						5.82		%				1,135,474						13,582						4.78		%
Loans and leases held for investment at amortized cost			5,404,490						158,960						11.76		%				5,517,257						162,085						11.75		%				4,404,123						124,028						11.26		%
Loans held for investment at fair value			362,837						11,788						13.00		%				670,969						21,692						12.93		%				17,763						791						17.83		%
Total loans and leases held for investment			5,767,327						170,748						11.84		%				6,188,226						183,777						11.88		%				4,421,886						124,819						11.29		%
Retail and certificate loans held for investment at fair value			22,311						817						14.65		%				32,760						1,194						14.57		%				104,010						3,685						14.17		%
Total interest-earning assets			7,926,348						207,412						10.47		%				8,278,024						214,486						10.36		%				5,942,594						143,220						9.64		%
Cash and due from banks and restricted cash			69,442																		78,221																		58,411
Allowance for loan and lease losses			(354,263)																		(354,348)																		(254,849)
Other non-interest earning assets			691,641																		686,956																		597,169
Total assets			$	8,333,168																	$	8,688,853																	$	6,343,325
Interest-bearing liabilities
Interest-bearing deposits:
Checking and money market accounts			$	1,271,720					$	9,541					2.98		%				$	1,397,302					$	7,760					2.23		%				$	2,192,904					$	4,575					0.83		%
Savings accounts and certificates of deposit			5,357,717						59,968						4.44		%				5,546,862						58,761						4.25		%				2,260,170						10,609						1.86		%
Interest-bearing deposits			6,629,437						69,509						4.16		%				6,944,164						66,521						3.84		%				4,453,074						15,184						1.35		%
Retail notes, certificates and secured borrowings			22,311						817						14.65		%				32,760						1,194						14.57		%				104,010						3,685						14.17		%
Other interest-bearing liabilities			13,567						81						2.42		%				31,409						119						1.51		%				140,904						675						1.92		%
Total interest-bearing liabilities			6,665,315						70,407						4.19		%				7,008,333						67,834						3.88		%				4,697,988						19,544						1.65		%
Non-interest bearing deposits			183,728																		205,750																		284,134
Other liabilities			271,118																		272,142																		250,086
Total liabilities			$	7,120,161																	$	7,486,225																	$	5,232,208

10

LENDINGCLUB CORPORATION

NET INTEREST INCOME (Continued)

(In thousands, except percentages or as noted)

(Unaudited)

			Consolidated LendingClub Corporation (1)
			Three Months Ended September 30, 2023																		Three Months Ended June 30, 2023																		Three Months Ended September 30, 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			$	1,213,007																	$	1,202,628																	$	1,111,117
Total liabilities and equity			$	8,333,168																	$	8,688,853																	$	6,343,325
Interest rate spread															6.28		%																6.48		%																7.99		%
Net interest income and net interest margin									$	137,005					6.91		%										$	146,652					7.09		%										$	123,676					8.32		%

(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)

			September 30, 2023						December 31, 2022
Assets
Cash and due from banks			$	19,220					$	23,125
Interest-bearing deposits in banks			1,288,550						1,033,905
Total cash and cash equivalents			1,307,770						1,057,030
Restricted cash			42,487						67,454
Securities available for sale at fair value ($872,341 and $399,668 at amortized cost, respectively)			795,669						345,702
Loans held for sale at fair value			362,789						110,400
Loans and leases held for investment			5,237,277						5,033,154
Allowance for loan and lease losses			(350,495)						(327,852)
Loans and leases held for investment, net			4,886,782						4,705,302
Loans held for investment at fair value			326,299						925,938
Retail and certificate loans held for investment at fair value			18,118						55,425
Property, equipment and software, net			159,768						136,473
Goodwill			75,717						75,717
Other assets			496,952						500,306
Total assets			$	8,472,351					$	7,979,747
Liabilities and Equity
Deposits:
Interest-bearing			$	6,687,069					$	6,158,560
Noninterest-bearing			313,194						233,993
Total deposits			7,000,263						6,392,553
Borrowings			10,717						74,858
Retail notes, certificates and secured borrowings at fair value			18,118						55,425
Other liabilities			235,034						292,617
Total liabilities			7,264,132						6,815,453
Equity
Common stock, $0.01 par value; 180,000,000 shares authorized; 109,648,769 and 106,546,995 shares issued and outstanding, respectively			1,096						1,065
Additional paid-in capital			1,660,236						1,628,590
Accumulated deficit			(398,961)						(427,745)
Accumulated other comprehensive loss			(54,152)						(37,616)
Total equity			1,208,219						1,164,294
Total liabilities and equity			$	8,472,351					$	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
						September 30, 2023						June 30, 2023						March 31, 2023						December 31, 2022						September 30, 2022
GAAP Net income						$	5,008					$	10,110					$	13,666					$	23,591					$	43,198
Less: Provision for credit losses						(64,479)						(66,595)						(70,584)						(61,512)						(82,739)
Less: Income tax benefit (expense)						(3,327)						(4,686)						(4,136)						2,439						7,243
Pre-provision net revenue						$	72,814					$	81,391					$	88,386					$	82,664					$	118,694

						For the three months ended
						September 30, 2023						June 30, 2023						March 31, 2023						December 31, 2022						September 30, 2022
Non-interest income						$	63,844					$	85,818					$	98,990					$	127,465					$	181,237
Net interest income						137,005						146,652						146,704						135,243						123,676
Total net revenue						200,849						232,470						245,694						262,708						304,913
Non-interest expense						(128,035)						(151,079)						(157,308)						(180,044)						(186,219)
Pre-provision net revenue						72,814						81,391						88,386						82,664						118,694
Provision for credit losses						(64,479)						(66,595)						(70,584)						(61,512)						(82,739)
Income before income tax benefit (expense)						8,335						14,796						17,802						21,152						35,955
Income tax benefit (expense)						(3,327)						(4,686)						(4,136)						2,439						7,243
GAAP Net income						$	5,008					$	10,110					$	13,666					$	23,591					$	43,198

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

						For the three months ended
						December 31, 2022						September 30, 2022
GAAP Net income						$	23,591					$	43,198
Less: Income tax benefit from release of tax valuation allowance (1)						3,180						5,015
Net income excluding income tax benefit						$	20,411					$	38,183
GAAP Diluted EPS						$	0.22					$	0.41
(A)			Income tax benefit from release of tax valuation allowance			$	3,180					$	5,015
(B)			Weighted-average common shares – Diluted			105,984,612						105,853,938
(A/B)			Diluted EPS impact of income tax benefit			$	0.03					$	0.05
Diluted EPS excluding income tax benefit						$	0.19					$	0.36

(1)    There was no income tax benefit from the release of a tax valuation allowance during the nine months ended September 30, 2023.

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

			September 30, 2023						June 30, 2023						March 31, 2023						December 31, 2022						September 30, 2022
GAAP common equity			$	1,208,219					$	1,205,523					$	1,190,742					$	1,164,294					$	1,121,410
Less: Goodwill			(75,717)						(75,717)						(75,717)						(75,717)						(75,717)
Less: Intangible assets			(13,151)						(14,167)						(15,201)						(16,334)						(17,512)
Tangible common equity			$	1,119,351					$	1,115,639					$	1,099,824					$	1,072,243					$	1,028,181
Book value per common share
GAAP common equity			$	1,208,219					$	1,205,523					$	1,190,742					$	1,164,294					$	1,121,410
Common shares issued and outstanding			109,648,769						108,694,120						107,460,734						106,546,995						105,088,761
Book value per common share			$	11.02					$	11.09					$	11.08					$	10.93					$	10.67
Tangible book value per common share
Tangible common equity			$	1,119,351					$	1,115,639					$	1,099,824					$	1,072,243					$	1,028,181
Common shares issued and outstanding			109,648,769						108,694,120						107,460,734						106,546,995						105,088,761
Tangible book value per common share			$	10.21					$	10.26					$	10.23					$	10.06					$	9.78

14