EXHIBIT 99.1
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LendingClub Reports First Quarter 2026 Results
Strong Performance Across Key Metrics
Delivered Record $67.3 Million Pre-Tax Income, 13.7% ROE, and 14.5% ROTCE
Increased Originations +31% and Delivered Diluted EPS of $0.44, +340%
Rebranding to Happen Bank in Summer 2026

SAN FRANCISCO – April 27, 2026 – LendingClub Corporation (NYSE: LC) today announced financial results for the first quarter ended March 31, 2026.

“We’re starting 2026 with exceptional momentum, delivering 31% year-over-year growth in originations while achieving record pre-tax earnings of $67 million and ROTCE of 14.5%,” said Scott Sanborn, LendingClub CEO. “At the same time, we advanced key strategic priorities, including the upcoming rebrand to Happen Bank, expanding into the $500 billion home improvement loan category, and maintaining our credit outperformance. Our focused, proven strategy is successfully attracting and retaining high-quality members as we continue generating consistent, durable returns.”

First Quarter 2026 Results

Highlights:
•Announced new brand, Happen Bank, launching summer 2026, reflecting both our expanded banking capabilities and our core mission: to clear the way for people going places.
•Began underwriting and originating home improvement loans in April, leveraging distinct advantages over incumbents and opening meaningful opportunity for growth.
•Achieved $2.7 billion in origination volume, up 31% compared to the prior year, driven in part by the successful execution of product and marketing initiatives.
•Diluted EPS of $0.44, more than quadrupled compared to the prior year.
•Continued credit outperformance vs. competitor set, with over 40% lower delinquencies.
•AI-powered automation and agent support tools led to record personal loans operations production efficiency in the first quarter and a record-high >90% automation rate for issued loans.
•Executed $26 million of the $100 million Stock Repurchase and Acquisition Program, with cumulative utilization through March totaling $38 million.

Balance Sheet:
•Total assets of $11.9 billion, up 14% year-over-year, primarily due to growth in loans and securities.
•Deposits of $10.2 billion, up 14% year-over-year, with 88% of deposits FDIC-insured.
•Robust available liquidity of $3.7 billion.
•Strong capital position with a consolidated Tier 1 leverage ratio of 11.9% and a CET1 capital ratio of 17.0%.

Financial Performance:
•Loan originations grew 31% to $2.7 billion, compared to $2.0 billion in the prior year, driven by the successful execution of product and marketing initiatives.
•Total net revenue increased 16% to $252.3 million, compared to $217.7 million in the prior year, driven by higher loan sales and loan sale pricing and higher net interest margin on a larger balance sheet.
◦Net interest margin expanded to 6.28%, compared to 5.97% in the prior year, driven primarily by improved deposit funding costs.
•Provision for credit losses of $0.4 million, compared to $58.1 million in the prior year, due to strong credit performance and the 2026 election of fair value option (FVO) accounting for all new originations.
•Net charge-offs on total loans and leases held for investment improved to $42.5 million, compared to $76.1 million in the same quarter in the prior year, supported by strong credit performance.
•Net income and Diluted EPS more than quadrupled to $51.6 million and $0.44, respectively, compared to $11.7 million and $0.10 in the prior year, respectively.
•Profit margin (pre-tax) of 26.7%, compared to 7.2% in the prior year.
•Return on Equity (ROE) of 13.7% with a Return on Tangible Common Equity (ROTCE) of 14.5%.
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Summary Financial Highlights:
Three Months Ended
($ in millions, except per share amounts)March 31,
2026		December 31,
2025		March 31,
2025
Total net revenue$252.3 $266.5 $217.7 
Provision for credit losses0.4 47.2 58.1 
Non-interest expense184.5 169.3 143.9 
Income before income tax expense67.3 50.0 15.7 
Income tax expense(15.7)(8.5)(4.0)
Net income$51.6 $41.6 $11.7 
Diluted EPS$0.44 $0.35 $0.10 

For a calculation of Tangible Book Value Per Common Share and Return on Tangible Common Equity, refer to the “Reconciliation of GAAP to Non-GAAP Financial Measures” tables at the end of this release.

2026 Strategic Priorities & Investments

LendingClub has made important progress on several strategic initiatives:

Corporate Rebrand: Rebranding to Happen BankTM, a bank that clears the way for people going places, providing fast and easy access to award-winning products that help them save more of what they earn and earn more on what they save. The new brand reflects LendingClub’s transition from a pioneering online lender to a diversified digital-first bank that combines deposits, lending, and a capital-light marketplace bank model. The company will transition to the new brand this summer. Rebrand-related costs are included in the 2026 financial guidance.

Home Improvement Financing: Having previously acquired foundational technology and key talent, LendingClub is now underwriting and originating home improvement loans through its initial partnership with the Wisetack platform. Inbound interest from additional potential partners has been significant. Home improvement financing is a $500 billion market where LendingClub has distinct advantages over incumbents and a meaningful opportunity for growth.

AI and Operating Efficiency: The company has over 60 active AI initiatives underway across marketing, product, engineering, operations, customer experience, and compliance, with the goal of improving efficiency and supporting margin expansion over time. AI-powered automation and agent support tools have already led to record personal loans operations production efficiency and a record-high >90% automation rate for issued loans in the first quarter.

New Marketing Channel Investment: LendingClub accelerated investments in new acquisition channels, including paid social and display, ahead of normal seasonal timing in order to build attribution models and data capabilities for the full-year 2026 growth plan. Successful execution of marketing and product initiatives contributed to a 31% year-over-year increase in originations growth in the first quarter.

Transition to Fair Value Option Accounting: Starting first quarter of 2026, LendingClub has adopted FVO accounting for all new originations of loans held for investment. This change aligns the accounting treatment for loans held for investment and held for sale, creating a consistent framework across the business and removing the front-loaded CECL reserve impact that corresponds to balance sheet growth. The company expects this transition will, over time, result in higher return on invested capital.

From a financial reporting perspective, under FVO, new loans are marked to fair value at origination, with subsequent changes in fair value, reflecting both credit performance and market conditions, flowing through non-interest income each quarter rather than through a separate provision for credit losses. The company will no longer record a CECL provision on new loan originations.
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Financial Outlook

Second Quarter 2026
Loan originations
$3.0B to $3.1B
Diluted EPS
$0.40 to $0.45
Full Year 2026
Loan originations
$11.6B to $12.6B
Diluted EPS
$1.65 to $1.80

About LendingClub

LendingClub Bank (soon to be Happen BankTM) is a digital bank built for the Motivated Middle: high-FICO, high-income, digitally savvy consumers actively managing their financial lives. Our difference? We make it easy for them to access award-winning products that help them keep more of what they earn and earn more on what they save. Our products are aligned by design to reward our five million plus members when they take positive financial steps, like saving regularly or making loan payments on time.

Our success is fueled by our advanced credit underwriting, a proprietary technology platform engineered for innovation, and a marketplace bank model that drives value for members, loan investors, and shareholders alike. The result is affordable credit, meaningful value, and a trusted banking relationship delivered consistently and profitably at scale.

As we look to our next chapter, we’re choosing a name that reflects why we exist: to clear the way for our members to make it happen. Learn more at https://www.meethappen.com.

LendingClub Corporation (NYSE: LC) is the parent company and operator of LendingClub Bank, National Association, Member FDIC. For more information about LendingClub, visit https://www.lendingclub.com.

Conference Call and Webcast Information
The LendingClub first quarter 2026 webcast and teleconference is scheduled to begin at 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time) on Monday, April 27, 2026. A live webcast of the call will be available at http://ir.lendingclub.com under the Filings & Financials menu in Quarterly Results. To listen to the call, register using this link: https://events.q4inc.com/attendee/442019885 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. LendingClub has used, and intends to use, its investor relations website, X (formerly 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.

Question Submissions
Prior to quarterly earnings, investors have the ability to submit and upvote questions for LendingClub’s management team to consider. To participate, visit the link provided in each quarter's earnings date announcement.

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

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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: Tangible Book Value (TBV) Per Common Share and Return on Tangible Common Equity (ROTCE). 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 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 tangible common equity for the period (common equity reduced by goodwill and customer relationship intangible assets), divided by the ending number of common shares issued and outstanding.

We believe ROTCE is an important measure because it reflects the company's ability to generate income from its core assets. ROTCE is a non-GAAP financial measure calculated by dividing annualized net income by the average tangible common equity for the applicable period.

For a reconciliation of such measures to the nearest GAAP measures, please refer to the tables on page 11 of this release.

Safe Harbor Statement
Some of the statements above, including statements regarding our entry into home improvement financing, our rebranding initiative, and anticipated future performance and financial results, are “forward-looking statements.” The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “predict,” “project,” “should,” “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 loan performance, our ability to continue to attract and retain new and existing borrowers and marketplace investors (including retaining long-term investors through the duration of their expected partnership and achieving the anticipated level of purchases); competition; overall economic conditions; our ability to integrate acquired technology; the interest rate and/or 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. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements, and you should not place undue reliance on 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,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025		Q/QY/Y
Operating Highlights:
Net interest income$176,234 $163,027 $158,439 $154,249 $149,957 8 %18 %
Non-interest income76,017 103,444 107,792 94,186 67,754 (27)%12 %
Total net revenue252,251 266,471 266,231 248,435 217,711 (5)%16 %
Provision for credit losses390 47,158 46,280 39,733 58,149 (99)%(99)%
Non-interest expense184,533 169,284 162,713 154,718 143,867 9 %28 %
Income before income tax expense
67,328 50,029 57,238 53,984 15,695 35 %329 %
Income tax expense
(15,725)(8,475)(12,964)(15,806)(4,024)86 %291 %
Net income$51,603 $41,554 $44,274 $38,178 $11,671 24 %342 %
Diluted EPS$0.44 $0.35 $0.37 $0.33 $0.10 26 %340 %
Total loan originations (in millions)(1)
$2,669 $2,637 $2,656 $2,433 $2,032 1 %31 %
Current period originations sold or held for sale
$1,717 $2,090 $2,027 $1,702 $1,314 (18)%31 %
Current period originations held for investment
$952 $547 $629 $731 $717 74 %33 %
Total servicing portfolio (in millions)(2)
$13,854$13,423$12,986$12,524$12,2413 %13 %
Loans serviced for others$7,750$7,601$7,612$7,185$7,1302 %9 %
Performance Metrics:
Net interest margin6.28 %5.98 %6.18 %6.14 %5.97 %
Profit margin(3)
26.7 %18.8 %21.5 %21.7 %7.2 %
Return on average equity (ROE)(4)
13.7 %11.3 %12.4 %11.1 %3.5 %
Return on tangible common equity (ROTCE)(5)(6)
14.5 %11.9 %13.2 %11.8 %3.7 %
Return on average total assets (ROA)(7)
1.8 %1.5 %1.7 %1.5 %0.4 %
Marketing expense as a % of loan originations(1)
2.08 %1.73 %1.53 %1.38 %1.44 %
Average balance - total loans and leases held for investment
$4,797,639 $4,767,573 $4,890,619 $4,899,272 $5,030,204 1 %(5)%
Net charge-offs - total loans and leases held for investment
$42,493 $47,852 $41,899 $46,078 $76,128 (11)%(44)%
Net charge-off ratio - total loans and leases held for investment(8)
3.5 %4.0 %3.4 %3.8 %6.1 %
Capital Metrics:
Common equity Tier 1 capital ratio17.0 %17.4 %18.0 %17.5 %17.8 %
Tier 1 leverage ratio11.9 %12.0 %12.3 %12.2 %11.7 %
Book value per common share$13.19 $13.01 $12.68 $12.25 $11.95 1 %10 %
Tangible book value per common share(6)
$12.49 $12.30 $11.95 $11.53 $11.22 2 %11 %
(1)    Beginning in the first quarter of 2026, includes all loans originated during the respective periods (unsecured consumer loans, auto loans and small business loans). Previously this included unsecured consumer loans and auto loans only. In the first quarter of 2026, this update included $15 million of small business loan originations. Prior periods have been reclassified to conform to the current period presentation.
(2)    Reflects loans serviced on our platform, which includes unsecured consumer loans and auto loans serviced for others for which servicing rights are retained by the Company.
(3)    Calculated as the ratio of income before income tax expense to total net revenue.
(4)    Calculated as annualized net income divided by average equity for the period presented.
(5)    Calculated as annualized net income divided by average tangible common equity for the period presented.
(6)    Represents a non-GAAP financial measure. See “Reconciliation of GAAP to Non-GAAP Financial Measures.”
(7)    Calculated as annualized net income divided by average total assets for the period presented.
(8)    Beginning in the first quarter of 2026, the net charge-off ratio is calculated as annualized net charge-offs for total loans and leases held for investment (at amortized cost and fair value) divided by average total outstanding loans and leases held for investment during the period. Prior to the first quarter of 2026, this was calculated based on loans and leases held for investment at amortized cost only. Prior period amounts have been reclassified to conform to the current period presentation.
5
LENDINGCLUB CORPORATION
OPERATING HIGHLIGHTS (Continued)
(In thousands, except percentages or as noted)
(Unaudited)

As of the period ended
% Change
March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025		Q/QY/Y
Balance Sheet Data:
Securities available for sale$3,867,576 $3,706,709 $3,742,304 $3,527,142 $3,426,571 4 %13 %
Loans held for sale
$1,836,121 $1,762,396 $1,213,140 $1,008,168 $703,378 4 %161 %
Loans and leases held for investment
$4,700,990 $4,470,383 $4,573,425 $4,765,068 $4,790,138 5 %(2)%
Total loans and leases
$6,537,111 $6,232,779 $5,786,565 $5,773,236 $5,493,516 5 %19 %
Total assets$11,939,839 $11,567,816 $11,072,515 $10,775,333 $10,483,096 3 %14 %
Total deposits$10,189,511 $9,833,870 $9,388,233 $9,136,124 $8,905,902 4 %14 %
Total liabilities$10,416,311 $10,067,388 $9,610,302 $9,369,298 $9,118,579 3 %14 %
Total equity$1,523,528 $1,500,428 $1,462,213 $1,406,035 $1,364,517 2 %12 %



6
LENDINGCLUB CORPORATION
LOANS AND LEASES HELD FOR INVESTMENT BY DELINQUENCY STATUS
(In thousands)
(Unaudited)
The following tables present loans and leases held for investment (at amortized cost and fair value) by delinquency status(1):
March 31, 2026
Current
30-59
Days		60-89
Days		90 or More
Days
Total
Guaranteed Amount (2)
Unsecured consumer (3)
$3,703,293 $22,006 $18,305 $16,826 $3,760,430 $— 
Residential mortgages147,730 1,719 — 25 149,474 — 
Secured consumer341,829 3,012 545 237 345,623 — 
Total consumer loans held for investment4,192,852 26,737 18,850 17,088 4,255,527 — 
Equipment finance (4)
32,824 — — 3,623 36,447 — 
Commercial real estate (5)
480,877 — 399 10,295 491,571 38,372 
Commercial and industrial
129,103 3,662 1,417 20,122 154,304 107,816 
Total commercial loans and leases held for investment
642,804 $3,662 $1,816 $34,040 $682,322 $146,188 
Total loans and leases held for investment
$4,835,656 $30,399 $20,666 $51,128 $4,937,849 $146,188 
December 31, 2025
Current
30-59
Days		60-89
Days		90 or More
Days
Total
Guaranteed Amount (2)
Unsecured consumer (3)
$3,600,434 $24,075 $19,685 $18,929 $3,663,123 $— 
Residential mortgages150,099 — 888 86 151,073 — 
Secured consumer257,063 3,015 596 395 261,069 — 
Total consumer loans held for investment4,007,596 27,090 21,169 19,410 4,075,265 — 
Equipment finance (4)
35,973 696 — 3,088 39,757 — 
Commercial real estate (5)
461,307 — — 11,182 472,489 39,507 
Commercial and industrial
133,526 1,540 1,878 20,074 157,018 108,826 
Total commercial loans and leases held for investment
630,806 2,236 1,878 34,344 669,264 148,333 
Total loans and leases held for investment
$4,638,402 $29,326 $23,047 $53,754 $4,744,529 $148,333 
(1)    Beginning in the first quarter of 2026, amounts include loans and leases held for investment measured at both amortized cost and fair value. Prior to the first quarter of 2026, amounts included loans and leases held for investment at amortized cost only.
(2)    Represents loan balances guaranteed by the Small Business Association (SBA).
(3)    Excludes basis adjustment for loans previously designated in fair value hedges under the portfolio layer method of $0.8 million and $1.6 million as of March 31, 2026 and December 31, 2025, respectively.
(4)    Comprised of sales-type leases for equipment.
(5)    Includes $307.0 million and $286.8 million in loans originated through the SBA as of March 31, 2026 and December 31, 2025, respectively.

7
LENDINGCLUB CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except share and per share data)
(Unaudited)
Three Months EndedChange (%)
 March 31,
2026		December 31,
2025		March 31,
2025
Q1 2026
vs
Q4 2025
Q1 2026
vs
Q1 2025
Interest income:
Interest on loans (1)
$199,897 $185,814 $166,173 8 %20 %
Interest on securities available for sale54,411 55,948 56,280 (3)%(3)%
Other interest income6,899 8,824 9,606 (22)%(28)%
Total interest income$261,207 $250,586 $232,059 4 %13 %
Interest expense:
Interest on deposits84,971 87,558 82,100 (3)%3 %
Other interest expense
2 1 2 100 %— %
Total interest expense84,973 87,559 82,102 (3)%3 %
Net interest income176,234 163,027 149,957 8 %18 %
Non-interest income:
Origination fees (2)
130,088 109,562 69,944 19 %86 %
Servicing fees (2)
13,113 12,845 12,748 2 %3 %
Gain on sales of loans (2)
16,269 15,546 12,202 5 %33 %
Net fair value adjustments (2)
(88,925)(39,451)(29,251)(125)%(204)%
Other non-interest income5,472 4,942 2,111 11 %159 %
Total non-interest income76,017 103,444 67,754 (27)%12 %
Total net revenue252,251 266,471 217,711 (5)%16 %
Provision for credit losses390 47,158 58,149 (99)%(99)%
Non-interest expense:
Compensation and benefits65,514 60,638 58,389 8 %12 %
Marketing55,415 45,680 29,239 21 %90 %
Equipment and software15,293 14,410 14,644 6 %4 %
Depreciation and amortization15,819 16,641 13,909 (5)%14 %
Professional services11,767 11,353 9,764 4 %21 %
Occupancy6,391 5,457 4,345 17 %47 %
Other non-interest expense14,334 15,105 13,577 (5)%6 %
Total non-interest expense184,533 169,284 143,867 9 %28 %
Income before income tax expense
67,328 50,029 15,695 35 %329 %
Income tax expense
(15,725)(8,475)(4,024)86 %291 %
Net income$51,603 $41,554 $11,671 24 %342 %
Net income per share:
Basic EPS$0.45 $0.36 $0.10 25 %350 %
Diluted EPS$0.44 $0.35 $0.10 26 %340 %
Weighted-average common shares – Basic115,400,564 115,334,621 113,693,399 — %2 %
Weighted-average common shares – Diluted117,333,435 118,855,315 116,176,898 (1)%1 %
(1)    Beginning in the first quarter of 2026, we combined “Interest on loans held for sale,” “Interest and fees on loans and leases held for investment,” and “Interest on loans held for investment at fair value,” into a single line item called “Interest on loans.” Prior period amounts have been reclassified to conform to the current period presentation.
(2)    Beginning in the first quarter of 2026, these components previously aggregated under “Marketplace revenue” on the Income Statement, are now presented as separate line items. Prior period amounts have been reclassified to conform to the current period presentation.
8
LENDINGCLUB CORPORATION
NET INTEREST INCOME
(In thousands, except percentages or as noted)
(Unaudited)
Consolidated LendingClub Corporation (1)
Three Months Ended
March 31, 2026
Three Months Ended
December 31, 2025
Three Months Ended
March 31, 2025
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$775,385 $6,899 3.56 %$905,427 $8,824 3.90 %$893,058 $9,606 4.30 %
Securities available for sale at fair value3,737,199 54,411 5.82 %3,695,980 55,948 6.06 %3,397,720 56,280 6.63 %
Loans held for sale at fair value
1,910,017 64,531 13.51 %1,530,624 51,006 13.33 %723,972 21,814 12.05 %
Loans held for investment at fair value
807,486 25,467 12.62 %455,168 12,292 10.80 %921,008 25,410 11.04 %
Loans and leases held for investment at amortized cost:
Unsecured consumer loans
2,934,584 94,763 12.92 %3,252,204 106,716 13.13 %3,097,136 104,722 13.53 %
Commercial and secured consumer loans
1,055,569 15,136 5.74 %1,060,201 15,800 5.96 %1,012,060 14,227 5.62 %
Loans and leases held for investment at amortized cost
3,990,153 109,899 11.02 %4,312,405 122,516 11.36 %4,109,196 118,949 11.58 %
Total loans and leases held for investment4,797,639 135,366 11.29 %4,767,573 134,808 11.31 %5,030,204 144,359 11.48 %
Total interest-earning assets11,220,240 261,207 9.31 %10,899,604 250,586 9.20 %10,044,954 232,059 9.24 %
Cash and due from banks and restricted cash26,343 32,308 30,084 
Allowance for loan and lease losses(262,466)(275,187)(239,608)
Other non-interest earning assets668,486 644,221 593,740 
Total assets$11,652,603 $11,300,946 $10,429,170 
Interest-bearing liabilities
Interest-bearing deposits (3):
Savings and money market accounts6,694,780 58,714 3.56 %6,478,888 60,960 3.73 %5,917,852 55,881 3.83 %
Certificates of deposit2,488,015 25,174 4.10 %2,400,374 25,377 4.19 %2,172,242 24,866 4.64 %
Checking accounts393,963 1,083 1.12 %396,430 1,221 1.22 %430,449 1,353 1.27 %
Interest-bearing deposits9,576,758 84,971 3.60 %9,275,692 87,558 3.75 %8,520,543 82,100 3.91 %
Other interest-bearing liabilities222 2 3.79 %109 1 4.28 %222 2 4.47 %
Total interest-bearing liabilities9,576,980 84,973 3.60 %9,275,801 87,559 3.75 %8,520,765 82,102 3.91 %
Noninterest-bearing deposits334,136 311,147 321,777 
Other liabilities233,776 240,642 237,155 
Total liabilities$10,144,892 $9,827,590 $9,079,697 
Total equity$1,507,711 $1,473,356 $1,349,473 
Total liabilities and equity$11,652,603 $11,300,946 $10,429,170 
Interest rate spread5.71 %5.45 %5.33 %
Net interest income and net interest margin$176,234 6.28 %$163,027 5.98 %$149,957 5.97 %
(1)    Consolidated presentation reflects intercompany eliminations.
(2)    Nonaccrual loans and any related income are included in their respective loan categories.
(3)    Prior period amounts have been reclassified to conform to the current period presentation.
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LENDINGCLUB CORPORATION
CONSOLIDATED BALANCE SHEETS
(In Thousands, Except Share and Per Share Amounts)
(Unaudited)
March 31,
2026		December 31,
2025
Assets
Cash and due from banks$19,528 $11,749 
Interest-bearing deposits in banks782,415 905,905 
Total cash and cash equivalents801,943 917,654 
Restricted cash19,919 12,783 
Securities available for sale at fair value ($3,908,834 and $3,733,780 at amortized cost, respectively)
3,867,576 3,706,709 
Loans held for sale at fair value1,836,121 1,762,396 
Loans held for investment at fair value
1,237,850 473,314 
Loans and leases held for investment3,700,837 4,272,812 
Allowance for loan and lease losses(237,697)(275,743)
Loans and leases held for investment, net3,463,140 3,997,069 
Property, equipment and software, net273,472 254,088 
Goodwill75,717 75,717 
Other assets364,101 368,086 
Total assets$11,939,839 $11,567,816 
Liabilities and Equity
Deposits:
Interest-bearing$9,781,568 $9,459,483 
Noninterest-bearing407,943 374,387 
Total deposits10,189,511 9,833,870 
Other liabilities226,800 233,518 
Total liabilities10,416,311 10,067,388 
Equity
Common stock, $0.01 par value; 180,000,000 shares authorized; 115,497,890 and 115,368,987 shares issued and outstanding, respectively
1,155 1,154 
Additional paid-in capital1,701,280 1,719,233 
Accumulated deficit(150,196)(201,799)
Accumulated other comprehensive loss(28,711)(18,160)
Total equity1,523,528 1,500,428 
Total liabilities and equity$11,939,839 $11,567,816 


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LENDINGCLUB CORPORATION
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(In thousands, except share and per share data)
(Unaudited)
Tangible Book Value Per Common Share
March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
GAAP common equity$1,523,528 $1,500,428 $1,462,213 $1,406,035 $1,364,517 
Less: Goodwill(75,717)(75,717)(75,717)(75,717)(75,717)
Less: Customer relationship intangible assets
(5,039)(5,685)(8,206)(7,068)(7,778)
Tangible common equity$1,442,772 $1,419,026 $1,378,290 $1,323,250 $1,281,022 
Book value per common share
GAAP common equity$1,523,528 $1,500,428 $1,462,213 $1,406,035 $1,364,517 
Common shares issued and outstanding115,497,890 115,368,987 115,301,440 114,740,147 114,199,832 
Book value per common share$13.19 $13.01 $12.68 $12.25 $11.95 
Tangible book value per common share
Tangible common equity$1,442,772 $1,419,026 $1,378,290 $1,323,250 $1,281,022 
Common shares issued and outstanding115,497,890 115,368,987 115,301,440 114,740,147 114,199,832 
Tangible book value per common share$12.49 $12.30 $11.95 $11.53 $11.22 

Return On Tangible Common Equity
For the three months ended
March 31,
2026		December 31,
2025		September 30,
2025		June 30,
2025		March 31,
2025
Average GAAP common equity
$1,507,711 $1,473,356 $1,424,538 $1,381,199 $1,349,473 
Less: Average goodwill(75,717)(75,717)(75,717)(75,717)(75,717)
Less: Average customer relationship intangible assets(5,362)(6,031)(6,722)(7,423)(8,182)
Average tangible common equity$1,426,632 $1,391,608 $1,342,099 $1,298,059 $1,265,574 
Return on average equity
Annualized GAAP net income$206,412 $166,216 $177,096 $152,712 $46,684 
Average GAAP common equity$1,507,711 $1,473,356 $1,424,538 $1,381,199 $1,349,473 
Return on average equity13.7 %11.3 %12.4 %11.1 %3.5 %
Return on tangible common equity
Annualized GAAP net income$206,412 $166,216 $177,096 $152,712 $46,684 
Average tangible common equity
$1,426,632 $1,391,608 $1,342,099 $1,298,059 $1,265,574 
Return on tangible common equity14.5 %11.9 %13.2 %11.8 %3.7 %

11