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Segment Reporting
9 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Segment Reporting Segment ReportingThe Company defines operating segments to be components of the Company for which discrete financial information is evaluated regularly by the Company’s chief executive officer and chief financial officer to allocate resources and evaluate financial performance. This information is reviewed according to the legal organizational structure of the Company’s operations with products and services presented separately for the parent bank holding company and its wholly-owned subsidiary, LendingClub Bank. Taxes are recorded on a separate entity basis whereby each operating segment determines income tax expense or benefit as if it filed a separate tax return. Differences between separate entity and consolidated tax returns are eliminated upon consolidation.
LendingClub Bank

The LendingClub Bank operating segment represents the national bank legal entity and reflects post-acquisition operating activities. This segment provides a full complement of financial products and solutions, including loans, leases and deposits. It originates loans to individuals and businesses, retains loans for investment, sells loans to investors and manages the acquired business relationships with deposit holders.

All of the Company’s revenue is generated in the United States. No individual borrower or investor accounted for 10% or more of consolidated net revenue for any of the periods presented.

LendingClub Corporation (Parent Only)

The LendingClub Corporation (parent only) operating segment represents the holding company legal entity and predominately reflects the historical operations of the Company. This activity includes, but is not limited to, the purchase and sale of loans prior to February 1, 2021 and ongoing issuances of education and patient finance loans that are originated by banking partners.

Financial information for the segments is presented in the following tables:
LendingClub
Bank
LendingClub
Corporation
(Parent only)
Intercompany
Eliminations
Total
Three Months Ended September 30,Three Months Ended September 30,Three Months Ended September 30,Three Months Ended September 30,
 20212020202120202021202020212020
Non-interest income:
Marketplace revenue$151,109 $— $23,447 $54,635 $— $— $174,556 $54,635 
Other non-interest income25,393 — 4,140 3,115 (23,211)— 6,322 3,115 
Total non-interest income176,502 — 27,587 57,750 (23,211)— 180,878 57,750 
Interest income:
Interest income64,606 — 18,254 46,773 — — 82,860 46,773 
Interest expense(2,270)— (15,302)(33,479)— — (17,572)(33,479)
Net interest income62,336 — 2,952 13,294 — — 65,288 13,294 
Total net revenue238,838 — 30,539 71,044 (23,211)— 246,166 71,044 
Reversal of (provision for) credit losses(38,019)— 495 3,669 — — (37,524)3,669 
Non-interest expense(161,101)— (40,885)(109,112)23,211 — (178,775)(109,112)
Income (Loss) before income tax benefit (expense)39,718 — (9,851)(34,399)— — 29,867 (34,399)
Income tax benefit (expense)(4,670)— 12,607 74 (10,619)— (2,682)74 
Consolidated net income (loss)$35,048 $— $2,756 $(34,325)$(10,619)$— $27,185 $(34,325)
Capital expenditures$9,451 $— $— $5,000 $— $— $9,451 $5,000 
Depreciation and amortization$1,220 $— $9,329 $12,348 $— $— $10,549 $12,348 
LendingClub
Bank
LendingClub
Corporation
(Parent only)
Intercompany
Eliminations
Total
Eight Months Ended September 30,Nine Months Ended September 30,Nine Months Ended September 30,Nine Months Ended September 30,
 20212020202120202021202020212020
Non-interest income:
Marketplace revenue$315,885 $— $92,133 $175,993 $— $— $408,018 $175,993 
Other non-interest income73,433 — 12,519 10,166 (67,282)— 18,670 10,166 
Total non-interest income389,318 — 104,652 186,159 (67,282)— 426,688 186,159 
Interest income:
Interest income127,429 — 67,748 176,744 — — 195,177 176,744 
Interest expense(5,489)— (59,989)(120,315)— — (65,478)(120,315)
Net interest income121,940 — 7,759 56,429 — — 129,699 56,429 
Total net revenue511,258 — 112,411 242,588 (67,282)— 556,387 242,588 
Reversal of (provision for) credit losses(96,938)— 3,287 (3,800)— — (93,651)(3,800)
Non-interest expense(374,782)— (165,666)(399,426)67,282 — (473,166)(399,426)
Loss before income tax benefit (expense)39,538 — (49,968)(160,638)— — (10,430)(160,638)
Income tax benefit (expense)7,866 — 23,821 (245)(31,785)— (98)(245)
Consolidated net income (loss)$47,404 $— $(26,147)$(160,883)$(31,785)$— $(10,528)$(160,883)
Capital expenditures$22,624 $— $1,811 $24,583 $— $— $24,435 $24,583 
Depreciation and amortization$2,810 $— $31,013 $41,832 $— $— $33,823 $41,832 
LendingClub BankLendingClub Corporation
(Parent only)
Intercompany
Eliminations
Total
 September 30, 2021December 31, 2020September 30, 2021December 31, 2020September 30, 2021December 31, 2020September 30, 2021December 31, 2020
Assets
Total cash and cash equivalents$825,538 $— $100,815 $524,963 $(64,202)$— $862,151 $524,963 
Restricted cash— — 84,827 103,522 (7,250)— 77,577 103,522 
Securities available for sale at fair value201,438 — 73,492 142,226 — — 274,930 142,226 
Loans held for sale at fair value82,483 — 69,677 121,902 — — 152,160 121,902 
Loans and leases held for investment, net2,603,256 — — — — — 2,603,256 — 
Retail and certificate loans held for investment at fair value— — 298,541 636,686 — — 298,541 636,686 
Other loans held for investment at fair value— — 27,229 49,954 — — 27,229 49,954 
Property, equipment and software, net26,457 — 69,616 96,641 — — 96,073 96,641 
Investment in subsidiary— — 511,394 — (511,394)— — — 
Goodwill75,717 — — — — — 75,717 — 
Other assets199,050 — 176,994 187,399 (92,918)— 283,126 187,399 
Total assets4,013,939 — 1,412,585 1,863,293 (675,764)— 4,750,760 1,863,293 
Liabilities and Equity
Total deposits2,910,171 — — — (71,452)— 2,838,719 — 
Short-term borrowings321 — 45,789 104,989 — — 46,110 104,989 
Advances from PPPLF391,945 — — — — — 391,945 — 
Retail notes, certificates and secured borrowings at fair value— — 298,541 636,774 — — 298,541 636,774 
Payable on Structured Program borrowings— — 89,252 152,808 — — 89,252 152,808 
Other long-term debt— — 15,563 — — — 15,563 — 
Other liabilities154,521 — 171,764 244,551 (60,445)— 265,840 244,551 
Total liabilities3,456,958 — 620,909 1,139,122 (131,897)— 3,945,970 1,139,122 
Total equity556,981 — 791,676 724,171 (543,867)— 804,790 724,171 
Total liabilities and equity$4,013,939 $— $1,412,585 $1,863,293 $(675,764)$— $4,750,760 $1,863,293