LendingClub Reports Fourth Quarter and Full Year 2025 Results

Delivered $41.6 million GAAP Net Income, 11.3% ROE and 11.9% ROTCE in fourth quarter

Increased Originations +40%, Revenue +23%, and Diluted EPS +338% in fourth quarter compared to prior year

For the full year 2025: Grew Originations +33%, Revenue +27%, and Diluted EPS +158% compared to prior year

SAN FRANCISCO - January 28, 2026 - LendingClub Corporation (NYSE: LC) today announced financial results for the fourth quarter and full year ended December 31, 2025.

"We closed out a fantastic year with another strong quarter, delivering 40% originations growth and ROTCE approaching 12%," said Scott Sanborn, LendingClub CEO. "On a full-year basis, we grew originations 33% and more than doubled EPS. We're entering 2026 from a position of strength, with product innovations and marketing investments taking hold while credit continues to outperform. Our entry into home improvement financing is creating new opportunities and we also expect to leverage ongoing operating discipline and AI efficiencies to further strengthen the earnings power of the company."

Fourth Quarter 2025 Results

Highlights:

•Achieved $2.6 billion in origination volume, up 40% compared to the prior year, driven by the successful execution of product and marketing initiatives.

•More than quadrupled Diluted EPS to $0.35 compared to the prior year.

•Continued to deliver credit outperformance vs. competitor set, with over 40% better performance.

•Executed $11.9 million of the $100 million Stock Repurchase and Acquisition Program.

•Announced entry into home improvement financing through foundational tech and talent acquisition and a distribution partnership.

•Showcased distinct competitive advantages and near-term and medium-term growth strategy at Investor Day1.

Balance Sheet:

•Total assets of $11.6 billion, up 9% year-over-year, supported primarily by growth in loans on the balance sheet.

•Deposits of $9.8 billion, up 8% year-over-year, driven by growth in consumer accounts.

◦88% of total deposits are FDIC-insured.

•Robust available liquidity of $4.0 billion.

•Strong capital position with a consolidated Tier 1 leverage ratio of 12.0% and a CET1 capital ratio of 17.4%.

Financial Performance:

•Loan originations grew 40% to $2.6 billion, compared to $1.8 billion in the prior year.

•Total net revenue increased 23% to $266.5 million, compared to $217.2 million in the prior year, driven by higher marketplace sales and loan sale pricing, strong credit performance, and higher net interest margin on a larger balance sheet.

◦Net interest margin expanded to 5.98%, compared to 5.42% in the prior year, driven by improved deposit funding costs.

•Provision for credit losses of $47.2 million, compared to $63.2 million in the prior year, driven by strong credit performance and fewer loans held-for-investment at amortized cost in the period.

•Net charge-offs in the held-for-investment at amortized cost loan portfolio improved to $40.1 million, compared to $46.0 million in the prior year, driven by strong credit performance as well as portfolio composition and maturity.

•Net income and Diluted EPS more than quadrupled to $41.6 million and $0.35, respectively, compared to $9.7 million and $0.08 in the prior year, respectively.

•Return on Equity (ROE) of 11.3% with a Return on Tangible Common Equity (ROTCE) of 11.9%.

•Pre-Provision Net Revenue (PPNR) increased 31% to $97.2 million, compared to $74.3 million in the prior year.

1 LendingClub Investor Day Presentation: https://ir.lendingclub.com/events-and-presentations/event-details/2025/LendingClub-2025-Investor-Day-2025-jNi5hV3tmT/default.aspx

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			Three Months Ended																		Year Ended
($ in millions, except per share amounts)			December 31, 2025						September 30, 2025						December 31, 2024						December 31, 2025						December 31, 2024
Total net revenue			$	266.5					$	266.2					$	217.2					$	998.8					$	787.0
Non-interest expense			169.3						162.7						142.9						630.6						543.7
Pre-provision net revenue (1)			97.2						103.5						74.3						368.3						243.3
Provision for credit losses			47.2						46.3						63.2						191.3						178.3
Income before income tax expense			50.0						57.2						11.1						176.9						65.1
Income tax expense			(8.5)						(13.0)						(1.4)						(41.3)						(13.7)
Net income			$	41.6					$	44.3					$	9.7					$	135.7					$	51.3
Diluted EPS			$	0.35					$	0.37					$	0.08					$	1.16					$	0.45

(1) See page 3 of this release for additional information on our use of non-GAAP financial measures.

For a calculation of Pre-Provision Net Revenue, Tangible Book Value Per Common Share, and Return on Tangible Common Equity, refer to the "Reconciliation of GAAP to Non-GAAP Financial Measures" tables at the end of this release.

Financial Outlook

			First Quarter 2026
Loan originations			$2.55B to $2.65B
Diluted EPS			$0.34 to $0.39

			Full Year 2026
Loan originations			$11.6B to $12.6B
Diluted EPS			$1.65 to $1.80

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About LendingClub

LendingClub is reimagining what a bank can be by building our business around a simple belief: when our members win, we win. Leveraging innovative technology and engaging mobile-first experiences, our integrated suite of financial products helps people keep more of what they earn and earn more on what they save. Our 5+ million members love us for providing quick and easy access to affordable credit and rewarding their smart financial choices, like making on-time payments, saving regularly, and taking control of debt.

Getting credit right is a key driver of our success. Our advanced underwriting models are informed by over 150 billion cells of proprietary data, derived from tens of millions of repayment events across economic cycles. Our leading credit expertise combined with our resilient bank foundation, capital-light loan marketplace, decades of lending experience, and talented team have enabled us to deliver lasting value to members, loan investors, and stockholders alike. And we're just getting started.

LendingClub Corporation (NYSE: LC) is the parent company and operator of LendingClub Bank, National Association, Member FDIC. For more information about LendingClub, visit https://www.lendingclub.com.

Conference Call and Webcast Information

The LendingClub fourth quarter 2025 webcast and teleconference is scheduled to begin at 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time) on Wednesday, January 28, 2026. A live webcast of the call will be available at http://ir.lendingclub.com under the Filings & Financials menu in Quarterly Results. To listen to the call, register using this link: https://events.q4inc.com/attendee/908793751 ten minutes prior to 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time). An audio archive of the call will be available at http://ir.lendingclub.com. LendingClub has used, and intends to use, its investor relations website, X (formerly Twitter) handles (@LendingClub and @LendingClubIR) and Facebook page (https://www.facebook.com/LendingClubTeam) as a means of disclosing material non-public information and to comply with its disclosure obligations under Regulation FD.

Question Submissions

Prior to quarterly earnings, investors have the ability to submit and upvote questions for LendingClub's management team to consider. To participate, visit the link provided in each quarter's earnings date announcement.

Contacts

For Investors:

[email protected]

Media Contact:

[email protected]

Non-GAAP Financial Measures

To supplement our financial statements, which are prepared and presented in accordance with GAAP, we use the following non-GAAP financial measures: Pre-Provision Net Revenue (PPNR), Tangible Book Value (TBV) Per Common Share, and Return on Tangible Common Equity (ROTCE). Our non-GAAP financial measures do have limitations as analytical tools and you should not consider them in isolation or as a substitute for an analysis of our results under GAAP.

We believe these non-GAAP financial measures provide management and investors with useful supplemental information about the financial performance of our business, enable comparison of financial results between periods where certain items may vary independent of business performance, and enable comparison of our financial results with other public companies.

We believe PPNR is an important measure because it reflects the underlying financial performance of our business operations. PPNR is a non-GAAP financial measure calculated by subtracting the provision for credit losses and income tax benefit/expense from net income.

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We believe TBV Per Common Share is an important measure used to evaluate the company's use of equity. TBV Per Common Share is a non-GAAP financial measure representing tangible common equity for the period (common equity reduced by goodwill and customer relationship intangible assets), divided by the ending number of common shares issued and outstanding.

We believe ROTCE is an important measure because it reflects the company's ability to generate income from its core assets. ROTCE is a non-GAAP financial measure calculated by dividing annualized net income by the average tangible common equity for the applicable period.

For a reconciliation of such measures to the nearest GAAP measures, please refer to the tables on pages 14 and 15 of this release.