---
schema_version: "secwatch.filing_event.v1"
accession: "0001409970-23-000029"
form_type: "8-K"
ticker: "LC"
cik: "0001409970"
company_name: "LendingClub Corp"
filed_at: "2023-04-26T23:59:59+00:00"
generated_at: "2026-06-16T12:21:52.448713+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# LendingClub Q1 net income $13.7M, revenue $245.7M; deposits rise 13% sequentially

## Summary
- Net income of $13.7M ($0.13 diluted EPS), down 42% vs Q4 2022 net income of $23.6M.
- Total net revenue $245.7M, down 6% sequentially from $262.7M; net interest income up 8% to $146.7M.
- Deposits increased 13% to $7.2B; cash rose 55% to $1.6B; consolidated Tier 1 leverage ratio 12.8%.
- Loan originations of $2.3B vs $2.5B prior quarter; provision for credit losses $70.6M on portfolio growth.
- Pre-provision net revenue $88.4M, up 7% sequentially; efficiency ratio improved to 64.0% from 68.5%.

## SEC filing metadata
- accession: 0001409970-23-000029
- form_type: 8-K
- ticker: LC
- cik: 0001409970
- company_name: LendingClub Corp
- filed_at: 2023-04-26T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1409970/000140997023000029/0001409970-23-000029-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1409970/000140997023000029/lc-20230426.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001409970-23-000029
- JSON: https://secwatch.observer/filing/0001409970-23-000029.json
- Plain text: https://secwatch.observer/filing/0001409970-23-000029.txt

## Key facts
- Earnings Releases
  LendingClub Corp reported the first quarter ended March 31, 2023 results: revenue $245.7 million, net income $13.7 million, EPS $0.13.
  - Period: the first quarter ended March 31, 2023
  - Revenue: $245.7 million
  - Net income: $13.7 million
  - EPS: $0.13
  - Result: reported results
  source text: up 1.7% from $10.06 at December 31, 2022. Financial Performance: • Loan originations were $2.3 billion compared to $2.5 billion in the prior quarter. • Total net revenue was $245.7 million compared to $262.7 million in the prior quarter, as growth in net interest income was offset by lower marketplace revenue. ◦ Net interest income increased 8% from the prior
  evidence_url: https://www.sec.gov/Archives/edgar/data/1409970/000140997023000029/0001409970-23-000029-index.htm

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