secwatch.observer — SEC 8-K summary
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Issuer:     LendingClub Corp (LC)
CIK:        0001409970
Form:       8-K
Filed at:   2024-10-23T23:59:59+00:00
Accession:  0001409970-24-000046
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1409970/000140997024000046/0001409970-24-000046-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1409970/000140997024000046/lc-20241023.htm
  HTML page:      https://secwatch.observer/filing/0001409970-24-000046

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