secwatch.observer — SEC 8-K summary
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Issuer:     LendingClub Corp (LC)
CIK:        0001409970
Form:       8-K
Filed at:   2023-01-25T23:59:59+00:00
Accession:  0001409970-23-000009
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LendingClub Q4 net income $23.6M; FY22 revenue $1.2B, up 45% YoY
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- FY2022 total net revenue $1.2B (+45% YoY); net income $289.7M vs $18.6M in 2021.
- Q4 net revenue $262.7M (comparable to prior year); net interest income up 63% to $135.2M.
- Loan originations Q4 $2.5B (down from $3.1B); acquired $1.05B loan portfolio in Q4.
- Book value per share $10.93 (+30% YoY); Tier 1 leverage ratio 14.1%.
- Implemented cost reduction plan for 2023; efficiency ratio improved to 69% from 72%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1409970/000140997023000009/0001409970-23-000009-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1409970/000140997023000009/lc-20230125.htm
  HTML page:      https://secwatch.observer/filing/0001409970-23-000009

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer