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Consolidated Statements of Operations - 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 [1] 29,540 72,876 109,493
Interest and fees on loans and leases held for investment [1] 188,977 0 0
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 deposits [1] 7,228 0 0
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
Provision for 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
Consolidated net income (loss) [2] 18,580 (187,538) (30,690)
Less: Income attributable to noncontrolling interests 0 0 55
LendingClub net income (loss) $ 18,580 (187,538) (30,745)
Net income (loss) per share      
Diluted EPS - common stockholders ($ per share) [3] $ 0.18    
Weighted-average common shares - Diluted (shares) [3] 102,147,353    
Common Stock      
Non-interest expense      
LendingClub net income (loss) $ 18,456 $ (154,664) $ (30,745)
Net income (loss) per share      
Basic EPS - common stockholders ($ per share) [3] $ 0.19 $ (2.63) $ (0.35)
Diluted EPS - common stockholders ($ per share) [3]   $ (2.63) $ (0.35)
Weighted-average common shares - Basic (shares) [3] 97,486,754 77,934,302 87,278,596
Weighted-average common shares - Diluted (shares) [3]   77,934,302 87,278,596
Preferred Stock      
Non-interest expense      
LendingClub net income (loss) $ 124 $ (32,874)  
Net income (loss) per share      
Basic EPS - common stockholders ($ per share) [3] $ 0.19 $ 1.39 $ 0.00
Diluted EPS - common stockholders ($ per share) [3]   $ 1.39 $ 0.00
Weighted-average common shares - Basic (shares) [3] 653,118 12,505,393 0
Weighted-average common shares - Diluted (shares) [3]   12,505,393 0
[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.
[3] See “Notes to Consolidated Financial Statements – Note 4. Net Income (Loss) Per Share” for additional information.