LendingClub Q2 2024: Net income $14.9M, EPS $0.13; originations up 10% sequentially to $1.8B

LendingClub Corp

2024-Q2 EPS reported $0.24

Net income $14.9M ($0.13 diluted EPS), up from $12.3M ($0.11) in Q1 2024; total net revenue $187.2M.
Loan originations $1.8B, up 10% sequentially from $1.6B, driven by new consumer loan initiatives and marketplace demand.
Net interest margin stable at 5.75%; net interest income $128.5M. Deposits grew to $8.1B from $7.5B.
Pre-provision net revenue (PPNR) improved to $55.0M from $48.5M in Q1 2024.
Book value per share $11.52; tangible book value $10.75, both up sequentially.

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