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SAN FRANCISCO , June 17, 2024 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank ("LendingClub"), America's leading digital marketplace bank, today announced that it has surpassed $3 billion in loans sold through its Structured LendingClub Loan Certificates program, which launched in April 2023. "Our structured certificates program is gaining strong momentum among our loan investors because they recognize the value of consumer credit as an asset class, the quality of our underwriting, and our streamlined financing solutions," said Scott Sanborn, CEO of LendingClub.
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SAN FRANCISCO , May 30, 2024 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank ("LendingClub"), America's leading digital marketplace bank, announced that its Chief Executive Officer Scott Sanborn and its Chief Financial Officer Drew LaBenne will participate in a fireside chat at the TD Financial Services & Fintech Summit on June 7, 2024 at 2:20 PM Eastern Time. Webcast information A live webcast of the TD Financial Services & Fintech Summit fireside chat will be available at https://wsw.com/webcast/cowen158/lc/1672902.
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LendingClub topped bottom-line estimates as its credit loss provision declined. The company expects to grow its loan book this quarter.
The headline numbers for LendingClub (LC) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
LendingClub noted in its latest results that deposits on its balance sheet grew as customers gravitated to high-yield savings products, credit quality was strong — and embedded finance solutions may offer a new avenue of future growth. As detailed in the most recent earnings materials, deposits of $7.5 billion represented an increase over the $7.
LendingClub (LC) came out with quarterly earnings of $0.11 per share, beating the Zacks Consensus Estimate of $0.03 per share. This compares to earnings of $0.13 per share a year ago.
High-interest savings accounts are growing in popularity, but given the lax and confusing laws surrounding banking in America, we are naturally wary and cautious when it comes to investing our money with big financial institutions.
LendingClub (LC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.