secwatch.observer — SEC 8-K summary
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Issuer:     LendingClub Corp (LC)
CIK:        0001409970
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0001409970-24-000021
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LendingClub Q1 2024 net income $12.3M, diluted EPS $0.11; originations $1.6B
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- Loan originations of $1.6B, comparable to prior quarter; net revenue $180.7M (down from $245.7M YoY).
- Net income increased 21% sequentially to $12.3M; diluted EPS $0.11 vs $0.09 prior quarter.
- Provision for credit losses $31.9M, down 24% from $41.9M; pre-provision net revenue $48.5M.
- Total assets $9.2B, deposits $7.5B; FDIC-insured deposits ~87% of total deposits.
- Book value per share $11.40, tangible book value $10.61; Tier 1 leverage ratio 12.5%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1409970/000140997024000021/0001409970-24-000021-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1409970/000140997024000021/lc-20240430.htm
  HTML page:      https://secwatch.observer/filing/0001409970-24-000021

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