LendingClub records certain loans and leases HFI at amortized cost. Other HFI and all HFS loans are recorded at fair value with the Company’s election of the fair value option. Accrued interest receivable is excluded from the amortized cost basis of loans and leases HFI and is reported within “Other assets” on the Balance Sheet. Net accrued interest receivable related to loans and leases HFI at amortized cost was $32.2 million and $27.9 million as of December 31, 2023 and 2022, respectively.


	December 31, 2023		December 31, 2022
Unsecured personal	$	3,726,830	$	3,866,373
Residential mortgages	183,050		199,601
Secured consumer	250,039		194,634

Total consumer loans held for investment	4,159,919		4,260,608
Equipment finance (1)	110,992		160,319
Commercial real estate	380,322		373,501
Commercial and industrial (2)	199,069		238,726
Total commercial loans and leases held for investment	690,383		772,546
Total loans and leases held for investment	4,850,302		5,033,154
Allowance for loan and lease losses (3)	(310,387)		(327,852)
Loans and leases held for investment, net (4)	$	4,539,915	$	4,705,302

(3) Comprised of $355.8 million and $340.4 million in allowance for future estimated net charge-offs on existing portfolio balances, net of a negative allowance of $45.4 million and $12.5 million for expected recoveries of amounts previously charged-off as of December 31, 2023 and 2022, respectively.

(4) As of December 31, 2023 and 2022, the Company had $3.5 billion and $283.6 million in loans pledged as collateral under the FRB Discount Window, respectively. In addition, as of December 31, 2023 and 2022, the Company had $479.0 million and $156.2 million in loans pledged to the FHLB of Des Moines, respectively.


December 31, 2023	Gross		ALLL		Net		Allowance Ratios (1)
Total consumer loans held for investment	$	4,159,919	$	298,061	$	3,861,858	7.2	%
Total commercial loans and leases held for investment	690,383		12,326		678,057		1.8	%
Total loans and leases held for investment	$	4,850,302	$	310,387	$	4,539,915	6.4	%


December 31, 2022	Gross		ALLL		Net		Allowance Ratios (1)
Total consumer loans held for investment	$	4,260,608	$	312,489	$	3,948,119	7.3	%
Total commercial loans and leases held for investment	772,546		15,363		757,183		2.0	%
Total loans and leases held for investment	5,033,154		$	327,852	$	4,705,302	6.5	%


Year Ended December 31,	2023						2022						2021
	Consumer		Commercial		Total		Consumer		Commercial		Total		Consumer		Commercial		Total
Allowance for loan and lease losses, beginning of period	$	312,489	$	15,363	$	327,852	$	128,812	$	15,577	$	144,389	$	—	$	—	$	—
Credit loss expense for loans and leases held for investment (1)	244,518		(948)		243,570		265,359		1,320		266,679		136,789		4,162		140,951
Initial allowance for PCD loans acquired during the period	—		—		—		—		—		—		603		11,837		12,440
Charge-offs (2)	(278,105)		(3,002)		(281,107)		(85,247)		(2,226)		(87,473)		(8,789)		(1,663)		(10,452)
Recoveries	19,159		913		20,072		3,565		692		4,257		209		1,241		1,450
Allowance for loan and lease losses, end of period	$	298,061	$	12,326	$	310,387	$	312,489	$	15,363	$	327,852	$	128,812	$	15,577	$	144,389

Reserve for unfunded lending commitments, beginning of period	$	18	$	1,860	$	1,878	$	—	$	1,231	$	1,231	$	—	$	—	$	—
Credit loss expense for unfunded lending commitments	(18)		13		(5)		18		629		647		—		1,231		1,231
Reserve for unfunded lending commitments, end of period (3)	$	—	$	1,873	$	1,873	$	18	$	1,860	$	1,878	$	—	$	1,231	$	1,231


	Gross Charge-Offs by Origination Year
	2023		2022		2021		2020		2019		Prior		Total
Unsecured personal	$	23,340	$	157,502	$	94,147	$	—	$	—	$	—	$	274,989
Residential mortgages	—		—		—		—		—		—		—
Secured consumer	202		2,233		681		—		—		—		3,116






Total consumer loans held for investment	23,542		159,735		94,828		—		—		—		278,105
Equipment finance	—		—		—		—		—		—		—
Commercial real estate	—		—		—		—		—		—		—
Commercial and industrial	—		—		1,369		82		318		1,233		3,002
Total commercial loans and leases held for investment	—		—		1,369		82		318		1,233		3,002

Total loans and leases held for investment	$	23,542	$	159,735	$	96,197	$	82	$	318	$	1,233	$	281,107

The Company evaluates the credit quality of its consumer loan portfolio based on the aging status of the loan and by payment activity. Loan delinquency reporting is based upon borrower payment activity relative to the contractual terms of the loan. The following tables present the classes of financing receivables within the consumer portfolio segment by credit quality indicator based on delinquency status and origination year:


December 31, 2023	Term Loans and Leases by Origination Year
	2023		2022		2021		2020		2019		Prior		Total
Unsecured personal
Current	$	1,498,737	$	1,688,512	$	438,296	$	—	$	—	$	—	$	3,625,545
30-59 days past due	9,034		17,017		6,665		—		—		—		32,716
60-89 days past due	7,767		15,538		6,251		—		—		—		29,556
90 or more days past due	6,924		16,564		6,644		—		—		—		30,132
Total unsecured personal (1)	1,522,462		1,737,631		457,856		—		—		—		3,717,949
Residential mortgages
Current	53		48,473		54,855		29,960		18,917		29,041		181,299
30-59 days past due	—		—		—		—		1,331		420		1,751
60-89 days past due	—		—		—		—		—		—		—
90 or more days past due	—		—		—		—		—		—		—
Total residential mortgages	53		48,473		54,855		29,960		20,248		29,461		183,050
Secured consumer
Current	125,618		97,084		21,949		—		2,460		—		247,111
30-59 days past due	364		1,295		417		—		—		—		2,076
60-89 days past due	94		373		168		—		—		—		635
90 or more days past due	—		153		64		—		—		—		217
Total secured consumer	126,076		98,905		22,598		—		2,460		—		250,039






Total consumer loans held for investment	$	1,648,591	$	1,885,009	$	535,309	$	29,960	$	22,708	$	29,461	$	4,151,038

(1) Excludes cumulative basis adjustment for loans designated in fair value hedges under the portfolio layer method. As of December 31, 2023, the basis adjustment totaled $8.9 million and represents a reduction to the amortized cost of the hedged loans. See “Note 9. Derivative Instruments and Hedging Activities” for additional information.


December 31, 2022	Term Loans and Leases by Origination Year
	2022		2021		2020		2019		2018		Prior		Total
Unsecured personal
Current	$	2,835,460	$	977,224	$	—	$	—	$	—	$	—	$	3,812,684
30-59 days past due	11,149		9,867		—		—		—		—		21,016
60-89 days past due	7,785		8,633		—		—		—		—		16,418
90 or more days past due	6,813		9,442		—		—		—		—		16,255
Total unsecured personal	2,861,207		1,005,166		—		—		—		—		3,866,373
Residential mortgages
Current	49,721		58,353		31,465		21,683		4,546		33,248		199,016
30-59 days past due	—		—		—		—		—		—		—
60-89 days past due	—		—		—		—		—		254		254
90 or more days past due	—		—		—		—		—		331		331
Total residential mortgages	49,721		58,353		31,465		21,683		4,546		33,833		199,601
Secured consumer
Current	151,725		38,076		—		2,543		—		—		192,344
30-59 days past due	1,017		703		—		—		—		—		1,720
60-89 days past due	235		147		—		—		—		—		382
90 or more days past due	116		72		—		—		—		—		188
Total secured consumer	153,093		38,998		—		2,543		—		—		194,634






Total consumer loans held for investment	$	3,064,021	$	1,102,517	$	31,465	$	24,226	$	4,546	$	33,833	$	4,260,608

The Company evaluates the credit quality of its commercial loan portfolio based on regulatory risk ratings. The Company categorizes loans and leases into risk ratings based on relevant information about the quality and realizable value of collateral, if any, and the ability of borrowers to service their debts, such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans and leases individually by classifying the loans and leases based on their associated credit risk and performs this analysis whenever credit is extended, renewed or modified, or when an observable event occurs indicating a potential decline in credit quality, and no less than annually for large balance loans. Risk rating classifications consist of the following:

Special Mention – Loans and leases with a potential weakness that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or the Company’s credit position at some future date.

Substandard – Loans and leases that are inadequately protected by the current sound worth and paying capacity of the obligator or of the collateral pledged, if any. Loans and leases so classified have a well-defined weakness or weaknesses that jeopardize the repayment and liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Normal payment from the borrower is in jeopardy, although loss of principal, while still possible, is not imminent.

Doubtful – Loans and leases that have all the weaknesses inherent in those classified as Substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently known facts, conditions, and values, highly questionable and improbable.


December 31, 2023	Term Loans and Leases by Origination Year
	2023		2022		2021		2020		2019		Prior		Total		Guaranteed Amount (1)
Equipment finance
Pass	$	2,945	$	33,430	$	26,311	$	7,754	$	9,411	$	6,288	$	86,139	$	—
Special mention	—		15,235		1,962		5,873		1,335		—		24,405		—
Substandard	—		—		—		448		—		—		448		—
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total equipment finance	2,945		48,665		28,273		14,075		10,746		6,288		110,992		—
Commercial real estate
Pass	49,067		94,247		34,535		43,058		52,160		78,062		351,129		33,423
Special mention	—		—		—		—		—		13,706		13,706		—
Substandard	—		3,598		7,716		—		—		2,139		13,453		9,425
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		1,515		—		—		519		2,034		1,471
Total commercial real estate	49,067		97,845		43,766		43,058		52,160		94,426		380,322		44,319
Commercial and industrial
Pass	40,636		60,352		39,304		9,525		10,282		11,626		171,725		104,928
Special mention	—		10,881		1,532		729		137		444		13,723		9,384
Substandard	—		2,304		5,426		673		1,045		1,434		10,882		6,908
Doubtful	—		649		—		548		—		286		1,483		1,214
Loss	—		—		—		—		—		1,256		1,256		1,229
Total commercial and industrial	40,636		74,186		46,262		11,475		11,464		15,046		199,069		123,663
Total commercial loans and leases held for investment	$	92,648	$	220,696	$	118,301	$	68,608	$	74,370	$	115,760	$	690,383	$	167,982


December 31, 2022	Term Loans and Leases by Origination Year
	2022		2021		2020		2019		2018		Prior		Total		Guaranteed Amount (1)
Equipment finance
Pass	$	59,227	$	38,218	$	25,014	$	15,785	$	11,880	$	3,444	$	153,568	$	—
Special mention	—		2,094		—		3,759		—		—		5,853		—
Substandard	—		—		859		—		39		—		898		—
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total equipment finance	59,227		40,312		25,873		19,544		11,919		3,444		160,319		—
Commercial real estate
Pass	100,602		53,445		47,497		52,834		35,992		60,976		351,346		40,693
Special mention	—		—		8,415		260		1,237		405		10,317		—
Substandard	—		—		—		643		2,404		8,215		11,262		—
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		576		576		—
Total commercial real estate	100,602		53,445		55,912		53,737		39,633		70,172		373,501		40,693
Commercial and industrial
Pass	61,076		99,264		24,726		13,866		5,174		10,831		214,937		141,858
Special mention	—		—		—		483		163		455		1,101		44
Substandard	—		9,361		4,529		3,623		797		2,820		21,130		5,716
Doubtful	—		—		—		—		—		286		286		216
Loss	—		—		—		—		1		1,271		1,272		1,229
Total commercial and industrial	61,076		108,625		29,255		17,972		6,135		15,663		238,726		149,063
Total commercial loans and leases held for investment	$	220,905	$	202,382	$	111,040	$	91,253	$	57,687	$	89,279	$	772,546	$	189,756


December 31, 2023	30-59 Days		60-89 Days		90 or More Days		Total Days Past Due
Equipment finance	$	1,265	$	—	$	—	$	1,265
Commercial real estate	—		3,566		1,618		5,184
Commercial and industrial (1)	12,261		1,632		1,515		15,408
Total commercial loans and leases held for investment	$	13,526	$	5,198	$	3,133	$	21,857


December 31, 2022	30-59 Days		60-89 Days		90 or More Days		Total Days Past Due
Equipment finance	$	3,172	$	—	$	859	$	4,031
Commercial real estate	—		102		—		102
Commercial and industrial (1)	—		—		1,643		1,643
Total commercial loans and leases held for investment	$	3,172	$	102	$	2,502	$	5,776


	Combination – Interest Payment Reduction and Term Extension			Debt Settlement
Unsecured personal
Current	$	7,741		$	70
30-59 days	348			85
60-89 days	172			669
90 or more days	265			6,526
Total loan modifications	$	8,526		$	7,350

Percentage of total unsecured personal loans at amortized cost as of end of period	0.2		%	0.2		%

The Company’s Combination modifications primarily provide borrowers with a short-term reduction in monthly payments, resulting in a term extension of approximately six months or greater compared to the original maturity date of the loan. In addition, the Company’s Debt Settlement modifications, which include engaging with third-party debt settlement companies, reduce the principal and interest amounts owed by borrowers. The Company typically charges-off such Debt Settlement loans within a few months following the modification, as payments under the modified agreement are less than the original contractual amounts.

In the event of a borrower defaulting at 120 days past due, the modified loan is charged-off at the time of default. The total amount of charge-offs subsequent to modification related to Combination and Debt Settlement modifications was $0.5 million and $53.1 million, respectively, during the year ended December 31, 2023.

Nonaccrual loans and leases are those for which accrual of interest has been suspended. Loans and leases are generally placed on nonaccrual status when contractually past due 90 days or more, or earlier if management believes that the probability of collection does not warrant further accrual, and are charged-off no later than 120 days past due.


Year Ended December 31,	2023				2022
	Nonaccrual(1)		Nonaccrual with no related ACL(2)		Nonaccrual(1)		Nonaccrual with no related ACL(2)
Unsecured personal	$	30,132	$	—	$	16,255	$	—
Residential mortgages	312		312		331		331
Secured consumer	217		—		188		—

Total nonaccrual consumer loans held for investment	30,661		312		16,774		331

Equipment finance	—		—		898		39
Commercial real estate	9,663		2,187		1,018		1,018
Commercial and industrial	4,058		1,590		16,137		1,229
Total nonaccrual commercial loans and leases held for investment (3)	13,721		3,777		18,053		2,286

Total nonaccrual loans and leases held for investment	$	44,382	$	4,089	$	34,827	$	2,617


Year Ended December 31,	2023				2022
	Nonaccrual		Nonaccrual Ratios(1)		Nonaccrual		Nonaccrual Ratios(1)
Total nonaccrual consumer loans held for investment	$	30,661	0.7	%	$	16,774	0.4	%
Total nonaccrual commercial loans and leases held for investment	13,721		2.0	%	18,053		2.3	%
Total nonaccrual loans and leases held for investment	$	44,382	0.9	%	$	34,827	0.7	%

Certain loans on non-accrual status may be considered collateral-dependent loans if the borrower is experiencing financial difficulty and repayment of the loan is expected to be substantially through sale or operation of the collateral. Expected credit losses for the Company’s collateral-dependent loans are calculated as the difference between the amortized cost basis and the fair value of the underlying collateral less costs to sell, if applicable.