---
schema_version: "secwatch.filing_event.v1"
accession: "0001409970-23-000054"
form_type: "8-K"
ticker: "LC"
cik: "0001409970"
company_name: "LendingClub Corp"
filed_at: "2023-10-25T23:59:59+00:00"
generated_at: "2026-06-09T10:13:45.890447+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# LendingClub Q3 net income $5M, EPS $0.05; revenue down 14% QoQ

## Summary
- Net income $5.0M ($0.05 diluted EPS) vs $10.1M ($0.09) prior quarter and $43.2M ($0.41) year ago.
- Total net revenue $200.8M, down from $232.5M QoQ and $304.9M YoY, driven by lower marketplace revenue.
- Loan originations fell to $1.5B from $2.0B QoQ due to reduced bank investor purchases.
- Deposits $7.0B; Tier 1 leverage ratio 13.2%; tangible book value $10.21 per share.
- CEO cites 'difficult but necessary actions' on expenses; structured certificate issuance doubled.

## SEC filing metadata
- accession: 0001409970-23-000054
- form_type: 8-K
- ticker: LC
- cik: 0001409970
- company_name: LendingClub Corp
- filed_at: 2023-10-25T23:59:59+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/1409970/000140997023000054/0001409970-23-000054-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1409970/000140997023000054/lc-20231025.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001409970-23-000054
- JSON: https://secwatch.observer/filing/0001409970-23-000054.json
- Plain text: https://secwatch.observer/filing/0001409970-23-000054.txt

## Key facts
- Earnings Releases
  LendingClub Corp reported third quarter ended September 30, 2023 results: revenue $200.8 million, net income $5.0 million, EPS $0.05.
  - Period: third quarter ended September 30, 2023
  - Revenue: $200.8 million
  - Net income: $5.0 million
  - EPS: $0.05
  - Result: reported results
  source text: Performance: • Loan originations of $1.5 billion compared to $2.0 billion in the prior quarter as a result of reduced purchases by bank loan investors. • Total net revenue of $200.8 million compared to $232.5 million in the prior quarter due to: ◦ Marketplace revenue of $60.9 million compared to $82.8 million in the prior quarter, primarily reflecting lower pricing
  evidence_url: https://www.sec.gov/Archives/edgar/data/1409970/000140997023000054/0001409970-23-000054-index.htm

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