Core Viewpoint - LendingClub is well-positioned to benefit from falling interest rates amid record-high consumer credit card debt, with significant growth potential in the lending market [2][11]. Group 1: Consumer Credit Card Debt - Consumer credit card debt has reached a record level of $1.142 trillion as of the end of Q2, with average interest rates near historical highs [5]. - A survey indicates that 38% of consumers are considering debt consolidation to save on interest payments [2]. Group 2: Interest Rate Environment - The Federal Reserve initiated its interest rate easing cycle in September, reducing the benchmark interest rate by 50 basis points, marking the first cut since the pandemic [3]. - Market expectations suggest an additional 100 basis point decrease in the federal funds rate over the next year [11]. Group 3: LendingClub's Business Strategy - LendingClub has developed products to assist consumers in managing and consolidating their debts, including a service that allows members to transfer credit card balances into payment plans [8]. - The company acquired Radius Bancorp in 2021, enabling it to retain a larger portion of its loans funded by low-cost deposits [6]. Group 4: Financial Performance - LendingClub's net charge-off rate improved from 6.2% to 5.4% over the last two quarters, indicating better credit quality [10]. - The company reported a decrease in provisions for credit losses from $64.5 million to $47.5 million year-over-year, while net income rose from $5 million to $14.5 million [10]. Group 5: Future Outlook - LendingClub anticipates originating between $1.8 billion and $1.9 billion in loans in Q4, reflecting growth from the previous year [10]. - The combination of high credit card debt and declining interest rates positions LendingClub for substantial growth opportunities in the lending sector [11].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 Commission File Number: 001-36771 | --- | --- | |--------------------------------------------------------------------------------|--------------------------------------| | | | | LendingClub Corporation (Exact name of registrant as specified in its charter) | | | Delaware | 51-0605731 | | (S ...

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Michael Wiggins De Oliveira is an inflection investor. This means buying into cheap companies at the moment when their narrative is changing and the business is on a path toward becoming significantly more profitable over the next year.With a focus on tech and “the Great Energy Transition (including uranium)”, Michael runs a concentrated portfolio with approximately 15 to 20 stocks and an average holding period of 18 months. Through his 10+ years analyzing countless companies, Michael has accumulated outsta ...

LendingClub's latest quarterly results show an acceleration of loan originations, and banks have moved back to the company's platform as consumers look for ways to consolidate and pay down debt — particularly credit card debt. The company's earnings supplementals indicated that loan originations were up 6% sequentially to $1.9 billion, where that tally had been $1.5 billion in the third quarter last year, up nearly 27%. CEO Scott Sanborn said on the conference call with analysts that "credit outperformance ...

Financial Performance - LendingClub's Q3 2024 total originations reached $1.9 billion, exceeding the guidance target of $1.8 billion to $1.9 billion[12] - The company's Q3 2024 Pre-Provision Net Revenue (PPNR) was $65.5 million, surpassing the guidance target of $40 million to $50 million[12] - Net Interest Income increased to $140.2 million in Q3 2024, driven by the purchase of a $1.3 billion loan portfolio[12] - Risk-Adjusted Revenue grew to $154.3 million in Q3 2024, driven by revenue growth partially offset by higher loan retention[18] - Book Value Per Common Share increased by 8% year-over-year to $11.95, while Tangible Book Value Per Common Share increased by 10% year-over-year to $11.19[34,41] Loan Portfolio and Credit Quality - LendingClub acquired a $1.3 billion seasoned portfolio of previously sold LendingClub-issued loans[16] - The portfolio yield is approximately 10%, inclusive of expected credit losses[17] - LendingClub's average cost of interest-bearing deposits is 4.79%[10] - The company's loan performance continues to outperform its competitive set in terms of delinquencies and hardships[13] Member Engagement and Strategy - LendingClub has over 5 million members[4] - Members save on average over 30% when they consolidate credit card debt through LendingClub[8] - The company's Net Promoter Score (NPS) is 83[5]

LendingClub Corporation (NYSE:LC) Q3 2024 Earnings Conference Call October 23, 2024 5:00 PM ET Company Participants Artem Nalivayko - Head, IR Scott Sanborn - CEO Drew LaBenne - CFO Conference Call Participants Tim Switzer - KBW Vincent Caintic - BTIG Giuliano Bologna - Compass Point John Hecht - Jefferies Brad Capuzzi - Piper Sandler Reggie Smith - JP Morgan Operator Good afternoon. Thank you for attending today's LendingClub Third Quarter 2024 Earnings Conference Call. My name is Sheila, and I'll be your ...

LendingClub (LC) reported $201.88 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 0.5%. EPS of $0.13 for the same period compares to $0.05 a year ago.The reported revenue represents a surprise of +6.18% over the Zacks Consensus Estimate of $190.14 million. With the consensus EPS estimate being $0.07, the EPS surprise was +85.71%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall S ...

Company Performance - LendingClub reported quarterly earnings of $0.13 per share, exceeding the Zacks Consensus Estimate of $0.07 per share, and up from $0.05 per share a year ago, representing an earnings surprise of 85.71% [1] - The company posted revenues of $201.88 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 6.18% and slightly up from $200.85 million year-over-year [1] - Over the last four quarters, LendingClub has consistently surpassed consensus EPS and revenue estimates [1] Stock Performance - LendingClub shares have increased by approximately 41.9% since the beginning of the year, outperforming the S&P 500's gain of 22.7% [2] - The stock currently holds a Zacks Rank 1 (Strong Buy), indicating expectations for continued outperformance in the near future [4] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.07 on revenues of $193.95 million, while for the current fiscal year, the estimate is $0.39 on revenues of $751.88 million [4] - The trend of estimate revisions for LendingClub has been favorable ahead of the earnings release, which may influence future stock performance [4][3] Industry Context - The Financial - Miscellaneous Services industry, to which LendingClub belongs, is currently ranked in the bottom 41% of over 250 Zacks industries, which may impact stock performance [5] - Community West Bancshares, another company in the same industry, is expected to report a quarterly earnings decline of 29.6% year-over-year, with a consensus EPS estimate of $0.38 [5]

III LendingClub EXHIBIT 99.1 LendingClub Reports Third Quarter 2024 Results Originations and Revenue Growth Supported by Return of Bank Buyers Total Assets Grew 25% Year to Date Driven by $1.3 Billion Purchase of LendingClub Loans Acquired Tally's Technology in October to Accelerate Product Roadmap SAN FRANCISCO – October 23, 2024 – LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today announced financial results for the third quarter e ...