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LendingClub Corporation – Parent Company Only Financial Statements - Statements of Operations (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Dec. 31, 2019
Non-interest income      
Marketplace revenue $ 578,580 [1] $ 245,314 [1] $ 646,735
Other non-interest income 27,219 [1] 13,442 [1] 13,831
Total non-interest income 605,799 [1] 258,756 [1] 660,566
Interest income      
Interest on loans held for sale at fair value [1] 29,540 72,876 109,493
Interest on retail and certificate loans held for investment at fair value [1] 57,684 115,952 214,395
Interest on other loans held for investment at fair value [1] 4,436 7,688 1,104
Interest on securities available for sale [1] 11,025 12,125 14,351
Other interest income [1] 1,170 1,053 6,002
Total interest income 292,832 [1] 209,694 [1] 345,345
Interest expense      
Interest on short-term borrowings [1] 3,677 17,837 26,826
Interest on retail notes, certificates and secured borrowings [1] 57,684 115,952 214,395
Interest on Structured Program borrowings [1] 9,638 16,204 5,070
Interest on other long-term debt [1] 1,774 373 1,013
Total interest expense 80,001 [1] 150,366 [1] 247,304
Net interest income and fair value adjustments 212,831 [1] 59,328 [1] 98,041
Total net revenue 818,630 [1] 318,084 [1] 758,607
Reversal of credit losses [2] 138,800 [1] 3,382 [1] 0
Non-interest expense      
Compensation and benefits [1] 288,390 252,517 333,628
Marketing [1] 156,142 51,518 235,337
Equipment and software [1] 39,490 26,842 24,927
Occupancy [1] 24,249 27,870 29,367
Depreciation and amortization [1] 44,285 54,030 59,152
Professional services [1] 47,572 41,780 43,010
Other non-interest expense [1] 61,258 47,762 64,077
Total non-interest expense 661,386 [1] 502,319 [1] 789,498
Income (Loss) before income tax benefit 18,444 (187,617) (30,891)
Income tax benefit (expense) 136 79 201
LendingClub net income (loss) 18,580 (187,538) (30,745)
LendingClub      
Non-interest income      
Marketplace revenue 115,759 245,314 646,735
Other non-interest income 16,718 13,442 13,831
Total non-interest income 132,477 258,756 660,566
Interest income      
Interest on loans held for sale at fair value 11,025 72,876 109,493
Interest on retail and certificate loans held for investment at fair value 57,684 115,952 214,395
Interest on other loans held for investment at fair value 4,436 7,688 1,104
Interest on securities available for sale 8,922 12,125 14,351
Other interest income 26 1,053 6,002
Total interest income 82,093 209,694 345,345
Interest expense      
Interest on short-term borrowings 3,676 17,837 26,826
Interest on retail notes, certificates and secured borrowings 57,684 115,952 214,395
Interest on Structured Program borrowings 9,638 16,204 5,070
Interest on other long-term debt 591 373 1,013
Total interest expense 71,589 150,366 247,304
Net interest income and fair value adjustments 10,504 0 0
Total net revenue 142,981 318,084 758,607
Reversal of credit losses (3,382) 3,382 0
Non-interest expense      
Compensation and benefits 31,010 252,517 333,628
Marketing 5,460 51,518 235,337
Equipment and software 2,459 26,842 24,927
Occupancy 17,751 27,870 29,367
Depreciation and amortization 39,716 54,030 59,152
Professional services 14,666 41,780 43,010
Other non-interest expense 86,977 47,762 64,077
Total non-interest expense 198,039 502,319 789,498
Income (Loss) before income tax benefit (51,676)    
Income tax benefit (expense) 44,013 79 201
Consolidated net income (loss) (7,663) $ (187,538) (30,690)
Equity in undistributed earnings of subsidiary 79,291    
LendingClub net income (loss) $ 71,628   $ (30,745)
[1] Prior period amounts have been reclassified to conform to the current period presentation. See “Notes to Consolidated Financial Statements Note 1. Summary of Significant Accounting Policies” for additional information.
[2] Prior period amounts have been reclassified to conform to the current period presentation. See “Notes to Consolidated Financial Statements Note 1. Summary of Significant Accounting Policies” for additional information.