LendingClub Corp (N:LC)

Sector:  Financials Industry:  Consumer Lending
 
See Regulatory Filings on SEC
Company Contact
Address: 595 Market Street, Suite 200
SAN FRANCISCO CA 94105
Tel: N/A
Website: https://www.lendingclub.com
IR: See website
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Key People
Scott C. Sanborn
Chief Executive Officer, Director 		Andrew LaBenne
Chief Financial Officer 		Annie Armstrong
Chief Risk Officer
Ronnie Momen
Chief Consumer Banking Officer 		   
Business Overview
LendingClub Corporation is the parent company of LendingClub Bank (LC Bank). The Company operates most of its business through LC Bank, as a lender and originator of loans and as a regulated bank in the United States. LC Bank is the digital marketplace bank in the United States where members can access a range of financial products and services designed to help them pay less when borrowing and earn more when saving. LC Bank holds loans and funds those loans directly with its own capital and deposits. LC Bank's primary loan products include unsecured personal loans, secured auto refinance loans, and patient and education finance loans (Consumer Loans). LC Bank's commercial lending business is primarily focused on small businesses, and it participates in the United States small business administration (SBA) lending programs. LC Bank's deposit business includes sourcing deposits directly from consumer and commercial customers and from third-party marketing channels and deposit brokers.
Financial Overview
For the fiscal year ended 31 December 2023, LendingClub Corp revenues decreased 27% to $864.6M. Net income decreased 87% to $38.9M. Revenues reflect LendingClub Bank segment decrease of 28% to $833.1M, Net Interest Margin - Total - % decrease of 15% to 7%, Net Interest Spread - Total - % decrease of 19% to 6.32%. Net income also reflects Equipment and software increase of 9% to $53.5M (expense).
Employees: 1,025 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $6,941M as of Dec 31, 2023
Annual revenue (TTM): $864.62M as of Dec 31, 2023
EBITDA (TTM): $101.86M as of Dec 31, 2023
Net annual income (TTM): $38.94M as of Dec 31, 2023
Free cash flow (TTM): -$1,196M as of Dec 31, 2023
Net Debt Last Fiscal Year: $6,100M as of Dec 31, 2023
Shares outstanding: 110,410,602 as of Jan 31, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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