LendingClub Q3 revenue up 8% QoQ to $201.9M; net income flat at $14.5M; acquires Tally tech

LendingClub Corp

2024-Q3 EPS reported $0.37

Total assets grew 25% YTD to $11.0B, driven by $1.3B purchase of LendingClub-issued loan portfolio.
Loan originations rose to $1.9B from $1.8B QoQ; net charge-off ratio improved to 5.4% from 6.2%.
Book value per common share increased to $11.95 from $11.52 QoQ; tangible book value $11.19.
Deposits increased to $9.5B from $8.1B; 88% FDIC-insured; Tier 1 leverage ratio 11.3%.
Acquired Tally's credit card debt management technology to accelerate product roadmap.

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