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LendingClub Corporation – Parent Company-Only Financial Statements - Statements of Income (Loss) (Details) - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Non-interest income:      
Marketplace revenue $ 291,484 $ 683,626 $ 578,580
Other non-interest income 11,297 28,765 27,219
Total non-interest income 302,781 712,391 605,799
Interest income:      
Interest on loans held for sale 35,655 26,183 29,540
Interest on loans held for investment at fair value 69,866 12,877 4,436
Interest on retail and certificate loans held for investment at fair value 4,222 18,135 57,684
Interest on securities available for sale 40,235 16,116 11,025
Other interest income 65,917 18,579 1,170
Total interest income 832,630 557,340 292,832
Interest expense:      
Interest on retail notes and certificates at fair value 4,222 18,135 57,684
Other interest expense 1,014 3,929 15,089
Total interest expense 270,792 82,515 80,001
Net interest income 561,838 474,825 212,831
Total net revenue 864,619 1,187,216 818,630
Reversal of credit losses 243,565 267,326 138,800
Non-interest expense:      
Compensation and benefits 261,948 339,397 288,390
Marketing 93,840 197,747 156,142
Equipment and software 53,485 49,198 39,490
Depreciation and amortization 47,195 43,831 44,285
Professional services 35,173 50,516 47,572
Occupancy 17,532 21,977 24,249
Other non-interest expense 57,264 64,187 61,258
Total non-interest expense 566,437 766,853 661,386
Income tax benefit (15,678) 136,648 136
Net income [1] 38,939 289,685 18,580
Parent      
Non-interest income:      
Marketplace revenue 41,817 48,231 115,759
Other non-interest income 9,503 15,628 16,718
Total non-interest income 51,320 63,859 132,477
Interest income:      
Interest on loans held for sale 0 1,390 11,025
Interest on loans held for investment at fair value 2,589 2,875 4,436
Interest on retail and certificate loans held for investment at fair value 4,222 18,135 57,684
Interest on securities available for sale 6,802 7,608 8,922
Other interest income 811 861 26
Total interest income 14,424 30,869 82,093
Interest expense:      
Interest on retail notes and certificates at fair value 4,222 18,135 57,684
Other interest expense 352 3,426 13,905
Total interest expense 4,574 21,561 71,589
Net interest income 9,850 9,308 10,504
Total net revenue 61,170 73,167 142,981
Reversal of credit losses 0 0 (3,382)
Non-interest expense:      
Compensation and benefits 6,520 7,770 31,010
Marketing 0 188 5,460
Equipment and software 246 194 2,459
Depreciation and amortization 16,979 27,342 39,716
Professional services 1,210 523 14,666
Occupancy 9,552 13,346 17,751
Other non-interest expense 24,508 40,398 86,977
Total non-interest expense 59,015 89,761 198,039
Income (Loss) before income tax benefit 2,155 (16,594) (51,676)
Income tax benefit 2,203 125,954 44,013
Net income 4,358 109,360 (7,663)
Equity in undistributed earnings of subsidiary 34,581 127,277 79,291
Net income $ 38,939 $ 236,637 $ 71,628
[1] See “Notes to Consolidated Financial Statements – Note 4. Earnings Per Share” for additional information.