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Segment Reporting
 9 Months Ended
Sep. 30, 2023
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The 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, LC Bank. Income 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.

All of the Company’s revenue is generated in the United States. The Company has experienced reductions in marketplace investor demand in connection with increases in interest rates and volatility in the macro economy. During the third quarter of 2023, no individual borrower or marketplace investor accounted for 10% or more of total net revenue. During the first nine months of 2023, one marketplace bank investor accounted for 12% of total net revenue. No other individual borrower or marketplace investor accounted for 10% or more of total net revenue for the first nine months of 2023.

LendingClub Bank

The LC 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 relationships with deposit holders.

LendingClub Corporation (Parent Only)

The LendingClub Corporation (Parent only) operating segment represents the holding company legal entity and predominately reflects the operations of the Company prior to the Acquisition. This activity includes, but is not limited to, servicing fee revenue for loans serviced prior to the Acquisition, and interest income and interest expense related to the Retail Program and Structured Program transactions entered into prior to the Acquisition.
Financial information for the segments is presented in the following tables:
LendingClub
Bank		LendingClub
Corporation
(Parent only)		Intercompany
Eliminations		Consolidated Total
Three Months Ended September 30,Three Months Ended September 30,Three Months Ended September 30,Three Months Ended September 30,
20232022202320222023202220232022
Non-interest income:
Marketplace revenue$37,439 $153,504 $12,320 $9,015 $11,127 $11,318 $60,886 $173,837 
Other non-interest income18,783 25,240 2,478 4,794 (18,303)(22,634)2,958 7,400 
Total non-interest income56,222 178,744 14,798 13,809 (7,176)(11,316)63,844 181,237 
Interest income:
Interest income203,961 137,142 3,451 6,078 — — 207,412 143,220 
Interest expense(69,517)(15,277)(890)(4,267)— — (70,407)(19,544)
Net interest income134,444 121,865 2,561 1,811 — — 137,005 123,676 
Total net revenue190,666 300,609 17,359 15,620 (7,176)(11,316)200,849 304,913 
Provision for credit losses(64,463)(82,739)(16)— — — (64,479)(82,739)
Non-interest expense(122,142)(177,714)(13,069)(19,821)7,176 11,316 (128,035)(186,219)
Income (Loss) before income tax benefit (expense) 4,061 40,156 4,274 (4,201)— — 8,335 35,955 
Income tax benefit (expense)(2,380)(9,440)(947)16,683 — — (3,327)7,243 
Net income
$1,681 $30,716 $3,327 $12,482 $— $— $5,008 $43,198 
Capital expenditures$15,984 $17,301 $— $— $— $— $15,984 $17,301 
Depreciation and amortization$7,579 $4,099 $3,671 $6,582 $— $— $11,250 $10,681 
LendingClub
Bank		LendingClub
Corporation
(Parent only)		Intercompany
Eliminations		Consolidated Total
Nine Months Ended September 30,Nine Months Ended September 30,Nine Months Ended September 30,Nine Months Ended September 30,
20232022202320222023202220232022
Non-interest income:
Marketplace revenue$172,133 $509,426 $33,200 $35,313 $33,970 $15,448 $239,303 $560,187 
Other non-interest income59,687 64,779 7,462 12,931 (57,800)(52,971)9,349 24,739 
Total non-interest income231,820 574,205 40,662 48,244 (23,830)(37,523)248,652 584,926 
Interest income:
Interest income612,805 357,117 11,506 26,224 — — 624,311 383,341 
Interest expense(189,959)(25,134)(3,991)(18,625)— — (193,950)(43,759)
Net interest income422,846 331,983 7,515 7,599 — — 430,361 339,582 
Total net revenue654,666 906,188 48,177 55,843 (23,830)(37,523)679,013 924,508 
Provision for credit losses(201,658)(205,814)— — — — (201,658)(205,814)
Non-interest expense(413,088)(552,809)(47,164)(71,523)23,830 37,523 (436,422)(586,809)
Income (Loss) before income tax benefit (expense)39,920 147,565 1,013 (15,680)— — 40,933 131,885 
Income tax benefit (expense)(12,065)(39,113)(84)120,274 — 53,048 (12,149)134,209 
Net income
$27,855 $108,452 $929 $104,594 $— $53,048 $28,784 $266,094 
Capital expenditures$48,239 $54,659 $— $— $— $— $48,239 $54,659 
Depreciation and amortization$21,546 $11,109 $13,696 $21,168 $— $— $35,242 $32,277 
LendingClub BankLendingClub Corporation
(Parent only)		Intercompany
Eliminations		Consolidated Total
 September 30, 2023December 31, 2022September 30, 2023December 31, 2022September 30, 2023December 31, 2022September 30, 2023December 31, 2022
Assets
Total cash and cash equivalents$1,283,549 $1,020,874 $93,060 $56,475 $(68,839)$(20,319)$1,307,770 $1,057,030 
Restricted cash— — 48,102 75,409 (5,615)(7,955)42,487 67,454 
Securities available for sale at fair value790,542 329,287 5,127 16,415 — — 795,669 345,702 
Loans held for sale at fair value362,789 110,400 — — — — 362,789 110,400 
Loans and leases held for investment, net4,886,782 4,705,302 — — — — 4,886,782 4,705,302 
Loans held for investment at fair value316,622 906,711 9,677 19,227 — — 326,299 925,938 
Retail and certificate loans held for investment at fair value— — 18,118 55,425 — — 18,118 55,425 
Property, equipment and software, net139,269 102,274 20,499 34,199 — — 159,768 136,473 
Investment in subsidiary— — 813,436 755,319 (813,436)(755,319)— — 
Goodwill75,717 75,717 — — — — 75,717 75,717 
Other assets352,072 339,341 162,490 173,851 (17,610)(12,886)496,952 500,306 
Total assets8,207,342 7,589,906 1,170,509 1,186,320 (905,500)(796,479)8,472,351 7,979,747 
Liabilities and Equity
Total deposits7,074,717 6,420,827 — — (74,454)(28,274)7,000,263 6,392,553 
Borrowings7,361 64,154 3,356 10,704 — — 10,717 74,858 
Retail notes, certificates and secured borrowings at fair value— — 18,118 55,425 — — 18,118 55,425 
Other liabilities136,543 189,185 116,101 116,318 (17,610)(12,886)235,034 292,617 
Total liabilities7,218,621 6,674,166 137,575 182,447 (92,064)(41,160)7,264,132 6,815,453 
Total equity988,721 915,740 1,032,934 1,003,873 (813,436)(755,319)1,208,219 1,164,294 
Total liabilities and equity$8,207,342 $7,589,906 $1,170,509 $1,186,320 $(905,500)$(796,479)$8,472,351 $7,979,747