---
schema_version: "secwatch.filing_event.v1"
accession: "0001409970-22-000055"
form_type: "8-K"
ticker: "LC"
cik: "0001409970"
company_name: "LendingClub Corp"
filed_at: "2022-12-02T23:59:59+00:00"
generated_at: "2026-06-21T10:09:36.488101+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# LendingClub acquires $1.05B personal loan portfolio from MUFG Union Bank

## Summary
- Portfolio of unsecured personal loans with $1.05B principal balance acquired from MUFG Union Bank.
- Weighted average FICO score of 729; loans were originated through LendingClub's marketplace.
- Expected closing by end of 2022; acquisition expenses ~$4M, offset by future interest income.
- LendingClub elected fair value option, avoiding upfront CECL credit loss provisioning.
- Portfolio to support recurring net interest income growth, utilizing balance sheet for marketplace liquidity.

## SEC filing metadata
- accession: 0001409970-22-000055
- form_type: 8-K
- ticker: LC
- cik: 0001409970
- company_name: LendingClub Corp
- filed_at: 2022-12-02T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1409970/000140997022000055/0001409970-22-000055-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1409970/000140997022000055/lc-20221202.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001409970-22-000055
- JSON: https://secwatch.observer/filing/0001409970-22-000055.json
- Plain text: https://secwatch.observer/filing/0001409970-22-000055.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.