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LendingClub Reports First Quarter 2026 Results

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Strong Performance Across Key Metrics 
Delivered Record $67.3 Million Pre-Tax Income, 13.7% ROE, and 14.5% ROTCE
Increased Originations +31% and Delivered Diluted EPS of $0.44, +340%
Rebranding to Happen Bank in Summer 2026

SAN FRANCISCO, April 27, 2026 /PRNewswire/ — LendingClub Corporation (NYSE: LC) today announced financial results for the first quarter ended March 31, 2026.

“We’re starting 2026 with exceptional momentum, delivering 31% year-over-year growth in originations while achieving record pre-tax earnings of $67 million and ROTCE of 14.5%,” said Scott Sanborn, LendingClub CEO. “At the same time, we advanced key strategic priorities, including the upcoming rebrand to Happen Bank, expanding into the $500 billion home improvement loan category, and maintaining our credit outperformance. Our focused, proven strategy is successfully attracting and retaining high-quality members as we continue generating consistent, durable returns.”

First Quarter 2026 Results

Highlights:

Announced new brand, Happen Bank, launching summer 2026, reflecting both our expanded banking capabilities and our core mission: to clear the way for people going places.Began underwriting and originating home improvement loans in April, leveraging distinct advantages over incumbents and opening meaningful opportunity for growth.Achieved $2.7 billion in origination volume, up 31% compared to the prior year, driven in part by the successful execution of product and marketing initiatives.Diluted EPS of $0.44, more than quadrupled compared to the prior year.Continued credit outperformance vs. competitor set, with over 40% lower delinquencies.AI-powered automation and agent support tools led to record personal loans operations production efficiency in the first quarter and a record-high >90% automation rate for issued loans.Executed $26 million of the $100 million Stock Repurchase and Acquisition Program, with cumulative utilization through March totaling $38 million.

Balance Sheet:

Total assets of $11.9 billion, up 14% year-over-year, primarily due to growth in loans and securities.Deposits of $10.2 billion, up 14% year-over-year, with 88% of deposits FDIC-insured.Robust available liquidity of $3.7 billion.Strong capital position with a consolidated Tier 1 leverage ratio of 11.9% and a CET1 capital ratio of 17.0%.

Financial Performance:

Loan originations grew 31% to $2.7 billion, compared to $2.0 billion in the prior year, driven by the successful execution of product and marketing initiatives.Total net revenue increased 16% to $252.3 million, compared to $217.7 million in the prior year, driven by higher loan sales and loan sale pricing and higher net interest margin on a larger balance sheet.Net interest margin expanded to 6.28%, compared to 5.97% in the prior year, driven primarily by improved deposit funding costs. Provision for credit losses of $0.4 million, compared to $58.1 million in the prior year, due to strong credit performance and the 2026 election of fair value option (FVO) accounting for all new originations.Net charge-offs on total loans and leases held for investment improved to $42.5 million, compared to $76.1 million in the same quarter in the prior year, supported by strong credit performance.Net income and Diluted EPS more than quadrupled to $51.6 million and $0.44, respectively, compared to  $11.7 million and $0.10 in the prior year, respectively.Profit margin (pre-tax) of 26.7%, compared to 7.2% in the prior year.Return on Equity (ROE) of 13.7% with a Return on Tangible Common Equity (ROTCE) of 14.5%.

Summary Financial Highlights:

Three Months Ended

($ in millions, except per share amounts)

March 31,
2026

December 31,
2025

March 31,
2025

Total net revenue

$           252.3

$           266.5

$           217.7

Provision for credit losses

0.4

47.2

58.1

Non-interest expense

184.5

169.3

143.9

Income before income tax expense

67.3

50.0

15.7

Income tax expense

(15.7)

(8.5)

(4.0)

Net income

$            51.6

$            41.6

$            11.7

Diluted EPS

$            0.44

$            0.35

$            0.10

For a calculation of 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.

2026 Strategic Priorities & Investments

LendingClub has made important progress on several strategic initiatives:

Corporate Rebrand: Rebranding to Happen BankTM, a bank that clears the way for people going places, providing fast and easy access to award-winning products that help them save more of what they earn and earn more on what they save. The new brand reflects LendingClub’s transition from a pioneering online lender to a diversified digital-first bank that combines deposits, lending, and a capital-light marketplace bank model. The company will transition to the new brand this summer. Rebrand-related costs are included in the 2026 financial guidance.

Home Improvement Financing: Having previously acquired foundational technology and key talent, LendingClub is now underwriting and originating home improvement loans through its initial partnership with the Wisetack platform. Inbound interest from additional potential partners has been significant. Home improvement financing is a $500 billion market where LendingClub has distinct advantages over incumbents and a meaningful opportunity for growth.

AI and Operating Efficiency: The company has over 60 active AI initiatives underway across marketing, product, engineering, operations, customer experience, and compliance, with the goal of improving efficiency and supporting margin expansion over time. AI-powered automation and agent support tools have already led to record personal loans operations production efficiency and a record-high >90% automation rate for issued loans in the first quarter.

New Marketing Channel Investment: LendingClub accelerated investments in new acquisition channels, including paid social and display, ahead of normal seasonal timing in order to build attribution models and data capabilities for the full-year 2026 growth plan. Successful execution of marketing and product initiatives contributed to a 31% year-over-year increase in originations growth in the first quarter.

Transition to Fair Value Option Accounting: Starting first quarter of 2026, LendingClub has adopted FVO accounting for all new originations of loans held for investment. This change aligns the accounting treatment for loans held for investment and held for sale, creating a consistent framework across the business and removing the front-loaded CECL reserve impact that corresponds to balance sheet growth. The company expects this transition will, over time, result in higher return on invested capital.

From a financial reporting perspective, under FVO, new loans are marked to fair value at origination, with subsequent changes in fair value, reflecting both credit performance and market conditions, flowing through non-interest income each quarter rather than through a separate provision for credit losses. The company will no longer record a CECL provision on new loan originations.

Financial Outlook

Second Quarter 2026

Loan originations

$3.0B to $3.1B

Diluted EPS

$0.40 to $0.45

Full Year 2026

Loan originations

$11.6B to $12.6B

Diluted EPS

$1.65 to $1.80

About LendingClub

LendingClub Bank (soon to be Happen BankTM) is a digital bank built for the Motivated Middle: high-FICO, high-income, digitally savvy consumers actively managing their financial lives. Our difference? We make it easy for them to access award-winning products that help them keep more of what they earn and earn more on what they save. Our products are aligned by design to reward our five million plus members when they take positive financial steps, like saving regularly or making loan payments on time.

Our success is fueled by our advanced credit underwriting, a proprietary technology platform engineered for innovation, and a marketplace bank model that drives value for members, loan investors, and shareholders alike. The result is affordable credit, meaningful value, and a trusted banking relationship delivered consistently and profitably at scale.

As we look to our next chapter, we’re choosing a name that reflects why we exist: to clear the way for our members to make it happen. Learn more at https://www.meethappen.com. 

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 first quarter 2026 webcast and teleconference is scheduled to begin at 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time) on Monday, April 27, 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/442019885 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:
IR@lendingclub.com

Media Contact:
Press@lendingclub.com

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: 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 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 page 11 of this release.

Safe Harbor Statement

Some of the statements above, including statements regarding our entry into home improvement financing, our rebranding initiative, and anticipated future performance and financial results, are “forward-looking statements.” The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “predict,” “project,” “should,” “will,” “would” and similar expressions may identify forward-looking statements, although not all forward-looking statements contain these identifying words. Factors that could cause actual results to differ materially from those contemplated by these forward-looking statements include: our loan performance, our ability to continue to attract and retain new and existing borrowers and marketplace investors (including retaining long-term investors through the duration of their expected partnership and achieving the anticipated level of purchases); competition; overall economic conditions; our ability to integrate acquired technology; the interest rate and/or regulatory environment; default rates and those factors set forth in the section titled “Risk Factors” in our most recent Annual Report on Form 10-K, as filed with the Securities and Exchange Commission, as well as in our subsequent filings with the Securities and Exchange Commission. Actual results or events could differ materially from the plans, intentions and expectations disclosed in forward-looking statements, and you should not place undue reliance on forward-looking statements. We do not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

 

LENDINGCLUB CORPORATION
OPERATING HIGHLIGHTS
(In thousands, except percentages or as noted)
(Unaudited)

 

As of and for the three months ended

% Change

March 31,
2026

December 31,
2025

September 30,
2025

June 30,
2025

March 31,
2025

Q/Q

Y/Y

Operating Highlights:

Net interest income

$  176,234

$    163,027

$    158,439

$  154,249

$  149,957

8 %

18 %

Non-interest income

76,017

103,444

107,792

94,186

67,754

(27) %

12 %

Total net revenue

252,251

266,471

266,231

248,435

217,711

(5) %

16 %

Provision for credit losses

390

47,158

46,280

39,733

58,149

(99) %

(99) %

Non-interest expense

184,533

169,284

162,713

154,718

143,867

9 %

28 %

Income before income tax expense

67,328

50,029

57,238

53,984

15,695

35 %

329 %

Income tax expense

(15,725)

(8,475)

(12,964)

(15,806)

(4,024)

86 %

291 %

Net income

$   51,603

$     41,554

$      44,274

$   38,178

$   11,671

24 %

342 %

Diluted EPS

$       0.44

$         0.35

$          0.37

$       0.33

$       0.10

26 %

340 %

Total loan originations (in millions)(1)

$     2,669

$       2,637

$        2,656

$     2,433

$     2,032

1 %

31 %

Current period originations sold or held
     for sale

$     1,717

$       2,090

$        2,027

$     1,702

$     1,314

(18) %

31 %

Current period originations held for
     investment

$        952

$          547

$           629

$        731

$       717

74 %

33 %

Total servicing portfolio (in millions)(2)

$  13,854

$     13,423

$      12,986

$   12,524

$   12,241

3 %

13 %

Loans serviced for others

$    7,750

$       7,601

$        7,612

$     7,185

$     7,130

2 %

9 %

Performance Metrics:

Net interest margin

6.28 %

5.98 %

6.18 %

6.14 %

5.97 %

Profit margin(3)

26.7 %

18.8 %

21.5 %

21.7 %

7.2 %

Return on average equity (ROE)(4)

13.7 %

11.3 %

12.4 %

11.1 %

3.5 %

Return on tangible common equity (ROTCE)(5)(6)

14.5 %

11.9 %

13.2 %

11.8 %

3.7 %

Return on average total assets (ROA)(7)

1.8 %

1.5 %

1.7 %

1.5 %

0.4 %

Marketing expense as a % of loan

     originations(1)

2.08 %

1.73 %

1.53 %

1.38 %

1.44 %

Average balance – total loans and leases

held for investment

$ 4,797,639

$  4,767,573

$  4,890,619

$ 4,899,272

$ 5,030,204

1 %

(5) %

Net charge-offs – total loans and leases

     held for investment

$   42,493

$     47,852

$      41,899

$   46,078

$   76,128

(11) %

(44) %

Net charge-off ratio – total loans and leases

     held for investment(8)

3.5 %

4.0 %

3.4 %

3.8 %

6.1 %

Capital Metrics:

Common equity Tier 1 capital ratio

17.0 %

17.4 %

18.0 %

17.5 %

17.8 %

Tier 1 leverage ratio

11.9 %

12.0 %

12.3 %

12.2 %

11.7 %

Book value per common share

$    13.19

$      13.01

$       12.68

$    12.25

$    11.95

1 %

10 %

Tangible book value per common share(6)

$    12.49

$      12.30

$       11.95

$    11.53

$    11.22

2 %

11 %

(1)  Beginning in the first quarter of 2026, includes all loans originated during the respective periods (unsecured consumer loans, auto loans and

      small business loans). Previously this included unsecured consumer loans and auto loans only. In the first quarter of 2026, this update

      included $15 million of small business loan originations. Prior periods have been reclassified to conform to the current period presentation.

(2)  Reflects loans serviced on our platform, which includes unsecured consumer loans and auto loans serviced for others for which servicing

      rights are retained by the Company.

(3)  Calculated as the ratio of income before income tax expense to total net revenue.

(4)  Calculated as annualized net income divided by average equity for the period presented.

(5)  Calculated as annualized net income divided by average tangible common equity for the period presented.

(6)  Represents a non-GAAP financial measure. See “Reconciliation of GAAP to Non-GAAP Financial Measures.”

(7)  Calculated as annualized net income divided by average total assets for the period presented.

(8)  Beginning in the first quarter of 2026, the net charge-off ratio is calculated as annualized net charge-offs for total loans and leases held for

      investment (at amortized cost and fair value) divided by average total outstanding loans and leases held for investment during the period.

      Prior to the first quarter of 2026, this was calculated based on loans and leases held for investment at amortized cost only. Prior period

      amounts have been reclassified to conform to the current period presentation.

 

LENDINGCLUB CORPORATION
OPERATING HIGHLIGHTS (Continued)
(In thousands, except percentages or as noted)
(Unaudited)

As of the period ended

% Change

March 31,
2026

December 31,
2025

September 30,
2025

June 30,
2025

March 31,
2025

Q/Q

Y/Y

Balance Sheet Data:

Securities available for sale

$   3,867,576

$     3,706,709

$      3,742,304

$   3,527,142

$   3,426,571

4 %

13 %

Loans held for sale

$   1,836,121

$     1,762,396

$      1,213,140

$   1,008,168

$      703,378

4 %

161 %

Loans and leases held for investment

$   4,700,990

$     4,470,383

$      4,573,425

$   4,765,068

$   4,790,138

5 %

(2) %

Total loans and leases

$   6,537,111

$     6,232,779

$      5,786,565

$   5,773,236

$   5,493,516

5 %

19 %

Total assets

$ 11,939,839

$   11,567,816

$    11,072,515

$ 10,775,333

$ 10,483,096

3 %

14 %

Total deposits

$ 10,189,511

$     9,833,870

$      9,388,233

$   9,136,124

$   8,905,902

4 %

14 %

Total liabilities

$ 10,416,311

$   10,067,388

$      9,610,302

$   9,369,298

$   9,118,579

3 %

14 %

Total equity

$   1,523,528

$     1,500,428

$      1,462,213

$   1,406,035

$   1,364,517

2 %

12 %

 

LENDINGCLUB CORPORATION
LOANS AND LEASES HELD FOR INVESTMENT BY DELINQUENCY STATUS
(In thousands)
(Unaudited)

 

The following tables present loans and leases held for investment (at amortized cost and fair value) by delinquency status(1):

March 31, 2026

Current

30-59
Days

60-89
Days

90 or More
Days

Total

Guaranteed
Amount (2)

Unsecured consumer (3)

$ 3,703,293

$   22,006

$   18,305

$     16,826

$ 3,760,430

$            —

Residential mortgages

147,730

1,719

—

25

149,474

—

Secured consumer

341,829

3,012

545

237

345,623

—

Total consumer loans held for investment

4,192,852

26,737

18,850

17,088

4,255,527

—

Equipment finance (4)

32,824

—

—

3,623

36,447

—

Commercial real estate (5)

480,877

—

399

10,295

491,571

38,372

Commercial and industrial

129,103

3,662

1,417

20,122

154,304

107,816

Total commercial loans and leases held for

 investment

642,804

$     3,662

$     1,816

$     34,040

$    682,322

$      146,188

Total loans and leases held for investment

$ 4,835,656

$   30,399

$   20,666

$     51,128

$ 4,937,849

$      146,188

December 31, 2025

Current

30-59
Days

60-89
Days

90 or More
Days

Total

Guaranteed
Amount (2)

Unsecured consumer (3)

$ 3,600,434

$   24,075

$   19,685

$    18,929

$ 3,663,123

$            —

Residential mortgages

150,099

—

888

86

151,073

—

Secured consumer

257,063

3,015

596

395

261,069

—

Total consumer loans held for investment

4,007,596

27,090

21,169

19,410

4,075,265

—

Equipment finance (4)

35,973

696

—

3,088

39,757

—

Commercial real estate (5)

461,307

—

—

11,182

472,489

39,507

Commercial and industrial

133,526

1,540

1,878

20,074

157,018

108,826

Total commercial loans and leases held for

 investment

630,806

2,236

1,878

34,344

669,264

148,333

Total loans and leases held for investment

$ 4,638,402

$   29,326

$   23,047

$    53,754

$ 4,744,529

$      148,333

(1)   Beginning in the first quarter of 2026, amounts include loans and leases held for investment measured at both

       amortized cost and fair value. Prior to the first quarter of 2026, amounts included loans and leases held for

       investment at amortized cost only.

(2)   Represents loan balances guaranteed by the Small Business Association (SBA).

(3)   Excludes basis adjustment for loans previously designated in fair value hedges under the portfolio layer

       method of $0.8 million and $1.6 million as of March 31, 2026 and December 31, 2025, respectively.

(4)   Comprised of sales-type leases for equipment.

(5)   Includes $307.0 million and $286.8 million in loans originated through the SBA as of March 31, 2026 and

       December 31, 2025, respectively.

 

LENDINGCLUB CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In thousands, except share and per share data)
(Unaudited)

Three Months Ended

Change (%)

March 31,
2026

December 31,
2025

March 31,
2025

Q1 2026

vs

Q4 2025

Q1 2026

vs

Q1 2025

Interest income:

Interest on loans (1)

$       199,897

$        185,814

$       166,173

8 %

20 %

Interest on securities available for sale

54,411

55,948

56,280

(3) %

(3) %

Other interest income

6,899

8,824

9,606

(22) %

(28) %

Total interest income

$       261,207

$        250,586

$       232,059

4 %

13 %

Interest expense:

Interest on deposits

84,971

87,558

82,100

(3) %

3 %

Other interest expense

2

1

2

100 %

— %

Total interest expense

84,973

87,559

82,102

(3) %

3 %

Net interest income

176,234

163,027

149,957

8 %

18 %

Non-interest income:

Origination fees (2)

130,088

109,562

69,944

19 %

86 %

Servicing fees (2)

13,113

12,845

12,748

2 %

3 %

Gain on sales of loans (2)

16,269

15,546

12,202

5 %

33 %

Net fair value adjustments (2)

(88,925)

(39,451)

(29,251)

(125) %

(204) %

Other non-interest income

5,472

4,942

2,111

11 %

159 %

Total non-interest income

76,017

103,444

67,754

(27) %

12 %

Total net revenue

252,251

266,471

217,711

(5) %

16 %

Provision for credit losses

390

47,158

58,149

(99) %

(99) %

Non-interest expense:

Compensation and benefits

65,514

60,638

58,389

8 %

12 %

Marketing

55,415

45,680

29,239

21 %

90 %

Equipment and software

15,293

14,410

14,644

6 %

4 %

Depreciation and amortization

15,819

16,641

13,909

(5) %

14 %

Professional services

11,767

11,353

9,764

4 %

21 %

Occupancy

6,391

5,457

4,345

17 %

47 %

Other non-interest expense

14,334

15,105

13,577

(5) %

6 %

Total non-interest expense

184,533

169,284

143,867

9 %

28 %

Income before income tax expense

67,328

50,029

15,695

35 %

329 %

Income tax expense

(15,725)

(8,475)

(4,024)

86 %

291 %

Net income

$        51,603

$         41,554

$        11,671

24 %

342 %

Net income per share:

Basic EPS

$           0.45

$            0.36

$           0.10

25 %

350 %

Diluted EPS

$           0.44

$            0.35

$           0.10

26 %

340 %

Weighted-average common shares – Basic

115,400,564

115,334,621

113,693,399

— %

2 %

Weighted-average common shares – Diluted   

117,333,435

118,855,315

116,176,898

(1) %

1 %

(1)  Beginning in the first quarter of 2026, we combined “Interest on loans held for sale,” “Interest and fees on loans and leases held for

      investment,” and “Interest on loans held for investment at fair value,” into a single line item called “Interest on loans.” Prior period

      amounts have been reclassified to conform to the current period presentation.

(2)  Beginning in the first quarter of 2026, these components previously aggregated under “Marketplace revenue” on the Income Statement,

      are now presented as separate line items. Prior period amounts have been reclassified to conform to the current period presentation.

 

LENDINGCLUB CORPORATION
NET INTEREST INCOME
(In thousands, except percentages or as noted)
(Unaudited)

Consolidated LendingClub Corporation (1)

Three Months Ended

March 31, 2026

Three Months Ended

December 31, 2025

Three Months Ended

March 31, 2025

Average
Balance

Interest

Income/
Expense

Average

Yield/
Rate

Average
Balance

Interest

Income/
Expense

Average

Yield/
Rate

Average
Balance

Interest

Income/
Expense

Average

Yield/
Rate

Interest-earning assets (2)

Cash, cash equivalents,

     restricted cash and other

$   775,385

$  6,899

3.56 %

$  905,427

$   8,824

3.90 %

$  893,058

$   9,606

4.30 %

Securities available for sale

     at fair value

3,737,199

54,411

5.82 %

3,695,980

55,948

6.06 %

3,397,720

56,280

6.63 %

Loans held for sale at fair

     value

1,910,017

64,531

13.51 %

1,530,624

51,006

13.33 %

723,972

21,814

12.05 %

Loans held for investment

     at fair value

807,486

25,467

12.62 %

455,168

12,292

10.80 %

921,008

25,410

11.04 %

Loans and leases held for

     investment at amortized

     cost:

Unsecured consumer

     loans

2,934,584

94,763

12.92 %

3,252,204

106,716

13.13 %

3,097,136

104,722

13.53 %

Commercial and

     secured consumer loans

1,055,569

15,136

5.74 %

1,060,201

15,800

5.96 %

1,012,060

14,227

5.62 %

Loans and leases held for

     investment at amortized

     cost

3,990,153

109,899

11.02 %

4,312,405

122,516

11.36 %

4,109,196

118,949

11.58 %

Total loans and leases held

     for investment

4,797,639

135,366

11.29 %

4,767,573

134,808

11.31 %

5,030,204

144,359

11.48 %

Total interest-earning

     assets

11,220,240

261,207

9.31 %

10,899,604

250,586

9.20 %

10,044,954

232,059

9.24 %

Cash and due from banks

     and restricted cash

26,343

32,308

30,084

Allowance for loan and

     lease losses

(262,466)

(275,187)

(239,608)

Other non-interest earning

     assets

668,486

644,221

593,740

Total assets

$ 11,652,603

$ 11,300,946

$ 10,429,170

Interest-bearing liabilities

Interest-bearing deposits (3):

Savings and money

market accounts

6,694,780

58,714

3.56 %

6,478,888

60,960

3.73 %

5,917,852

55,881

3.83 %

Certificates of deposit

2,488,015

25,174

4.10 %

2,400,374

25,377

4.19 %

2,172,242

24,866

4.64 %

Checking accounts

393,963

1,083

1.12 %

396,430

1,221

1.22 %

430,449

1,353

1.27 %

Interest-bearing deposits

9,576,758

84,971

3.60 %

9,275,692

87,558

3.75 %

8,520,543

82,100

3.91 %

Other interest-bearing

     liabilities

222

2

3.79 %

109

1

4.28 %

222

2

4.47 %

Total interest-bearing

     liabilities

9,576,980

84,973

3.60 %

9,275,801

87,559

3.75 %

8,520,765

82,102

3.91 %

Noninterest-bearing

     deposits

334,136

311,147

321,777

Other liabilities

233,776

240,642

237,155

Total liabilities

$ 10,144,892

$   9,827,590

$   9,079,697

Total equity

$   1,507,711

$   1,473,356

$   1,349,473

Total liabilities and equity

$ 11,652,603

$ 11,300,946

$ 10,429,170

Interest rate spread

5.71 %

5.45 %

5.33 %

Net interest income and

     net interest margin

$ 176,234

6.28 %

$ 163,027

5.98 %

$ 149,957

5.97 %

(1)  Consolidated presentation reflects intercompany eliminations.

(2)  Nonaccrual loans and any related income are included in their respective loan categories.

(3)  Prior period amounts have been reclassified to conform to the current period presentation.

 

LENDINGCLUB CORPORATION
CONSOLIDATED BALANCE SHEETS
(In Thousands, Except Share and Per Share Amounts)
(Unaudited)

March 31,
2026

December 31,
2025

Assets

Cash and due from banks

$          19,528

$        11,749

Interest-bearing deposits in banks

782,415

905,905

Total cash and cash equivalents

801,943

917,654

Restricted cash

19,919

12,783

Securities available for sale at fair value ($3,908,834 and $3,733,780 at amortized

     cost, respectively)

3,867,576

3,706,709

Loans held for sale at fair value

1,836,121

1,762,396

Loans held for investment at fair value

1,237,850

473,314

Loans and leases held for investment

3,700,837

4,272,812

Allowance for loan and lease losses

(237,697)

(275,743)

Loans and leases held for investment, net

3,463,140

3,997,069

Property, equipment and software, net

273,472

254,088

Goodwill

75,717

75,717

Other assets

364,101

368,086

Total assets

$     11,939,839

$   11,567,816

Liabilities and Equity

Deposits:

Interest-bearing

$       9,781,568

$    9,459,483

Noninterest-bearing

407,943

374,387

Total deposits

10,189,511

9,833,870

Other liabilities

226,800

233,518

Total liabilities

10,416,311

10,067,388

Equity

Common stock, $0.01 par value; 180,000,000 shares authorized; 115,497,890 and

     115,368,987 shares issued and outstanding, respectively

1,155

1,154

Additional paid-in capital

1,701,280

1,719,233

Accumulated deficit

(150,196)

(201,799)

Accumulated other comprehensive loss

(28,711)

(18,160)

Total equity

1,523,528

1,500,428

Total liabilities and equity

$     11,939,839

$   11,567,816

 

LENDINGCLUB CORPORATION
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(In thousands, except share and per share data)
(Unaudited)

 

Tangible Book Value Per Common Share

March 31,
2026

December 31,
2025

September 30,
2025

June 30,
2025

March 31,
2025

GAAP common equity

$      1,523,528

$      1,500,428

$      1,462,213

$      1,406,035

$      1,364,517

Less: Goodwill

(75,717)

(75,717)

(75,717)

(75,717)

(75,717)

Less: Customer relationship intangible

      assets

(5,039)

(5,685)

(8,206)

(7,068)

(7,778)

Tangible common equity

$      1,442,772

$      1,419,026

$      1,378,290

$      1,323,250

$      1,281,022

Book value per common share

GAAP common equity

$      1,523,528

$      1,500,428

$      1,462,213

$      1,406,035

$      1,364,517

Common shares issued and outstanding

115,497,890

115,368,987

115,301,440

114,740,147

114,199,832

Book value per common share

$             13.19

$             13.01

$             12.68

$             12.25

$             11.95

Tangible book value per common share

Tangible common equity

$      1,442,772

$      1,419,026

$      1,378,290

$      1,323,250

$      1,281,022

Common shares issued and outstanding

115,497,890

115,368,987

115,301,440

114,740,147

114,199,832

Tangible book value per common share

$             12.49

$             12.30

$             11.95

$             11.53

$             11.22

 

Return On Tangible Common Equity

For the three months ended

March 31,
2026

December 31,
2025

September 30,
2025

June 30,
2025

March 31,
2025

Average GAAP common equity

$    1,507,711

$    1,473,356

$    1,424,538

$    1,381,199

$    1,349,473

Less: Average goodwill

(75,717)

(75,717)

(75,717)

(75,717)

(75,717)

Less: Average customer relationship

     intangible assets

(5,362)

(6,031)

(6,722)

(7,423)

(8,182)

Average tangible common equity

$    1,426,632

$    1,391,608

$    1,342,099

$    1,298,059

$    1,265,574

Return on average equity

Annualized GAAP net income

$       206,412

$       166,216

$       177,096

$       152,712

$         46,684

Average GAAP common equity

$    1,507,711

$    1,473,356

$    1,424,538

$    1,381,199

$    1,349,473

Return on average equity

13.7 %

11.3 %

12.4 %

11.1 %

3.5 %

Return on tangible common equity

Annualized GAAP net income

$      206,412

$      166,216

$      177,096

$      152,712

$       46,684

Average tangible common equity

$   1,426,632

$   1,391,608

$   1,342,099

$   1,298,059

$  1,265,574

Return on tangible common equity

14.5 %

11.9 %

13.2 %

11.8 %

3.7 %

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/lendingclub-reports-first-quarter-2026-results-302754594.html

SOURCE LendingClub Corporation

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Technology

Amid Rising Costs and Surgical Disruptions in ASCs, NorthStar Anesthesia Strengthens Focus on ASC Partnerships

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With 17 new ASC partnerships nationwide to date in 2026, NorthStar Anesthesia emphasizes proactive patient assessment, reliable staffing, and clinical consistency to help surgery centers reduce preventable cancellations and maximize surgical capacity.

IRVING, Texas, Oct. 23, 2026 /PRNewswire/ — As ambulatory surgery centers (ASCs) face mounting financial pressures, staffing challenges, and increasingly complex patient needs, anesthesia has emerged as a critical partner in their ability to operate efficiently and sustainably. NorthStar Anesthesia is addressing these challenges through a dedicated ASC model designed to reduce preventable case cancellations, improve surgical throughput, and help centers make the most of their existing operating room capacity.

NorthStar celebrates 17 new ASC partnerships nationwide to date in 2026.

“The challenge for ASCs today isn’t simply finding anesthesia coverage. It’s ensuring that coverage translates into reliable surgical capacity,” said Cindy Myers, Vice President of ASC Operations at NorthStar Anesthesia. “When cases are cancelled unnecessarily or operating rooms aren’t running as planned, the impact extends well beyond the anesthesia department. Our focus is on helping centers address those challenges systematically, so they can deliver more consistent care and operate more efficiently.”

Reducing Preventable Cancellations Through Better Preparation

One of the most significant opportunities to improve ASC performance lies in the preoperative process. When potential anesthesia concerns are not identified until the day of surgery, patients may face unexpected cancellations, surgeons lose valuable operating time, and centers absorb the cost of unused capacity.

NorthStar addresses this challenge through ASC-specific pre-anesthesia testing (PAT) guidelines and standardized clinical protocols designed to identify potential issues earlier, facilitate appropriate patient optimization, and support consistent decision-making across the surgical process.

“In ambulatory surgery, the decisions made before the patient arrives are often just as important as those made in the operating room,” said Gajan Mahendran, MD, Vice President of Physician Services at NorthStar Anesthesia. “A consistent, evidence-based approach to preoperative assessment helps us identify risks earlier, determine which patients are appropriate for the ASC setting, and address potential barriers to surgery in advance. That means fewer last-minute surprises and a better experience for patients, surgeons, and facilities.”

Aligning Anesthesia Resources With Surgical Demand

Alongside clinical challenges, ASCs are navigating a changing economic environment. In a recent Becker’s ASC Review interview, NorthStar CEO Adam Spiegel noted that approximately 80% of ASCs in NorthStar’s network now require anesthesia stipends, compared with just 10% to 15% before the pandemic.

As anesthesia costs rise, ensuring that staffing levels align with actual surgical demand has become increasingly important. NorthStar works with ASC partners to develop staffing models that reflect each facility’s case mix, surgical volume, and operating requirements. “Adding anesthesia resources doesn’t automatically improve performance if those resources aren’t aligned with the center’s surgical volume,” Myers said. “We work closely with our partners to understand their schedules, case mix, and operational needs so we can build a model that supports both reliable access to care and financial sustainability.”

Combining National Resources With Local Clinical Expertise

As ASCs take on a greater share of surgical procedures, the demands placed on anesthesia providers are becoming more complex. Smaller or locally managed anesthesia groups may face challenges maintaining consistent coverage, recruiting clinicians, or investing in standardized clinical and operational processes.

NorthStar’s model combines local clinical leadership with national recruiting capabilities, dedicated ASC operations expertise, and established quality guidelines. This infrastructure helps support continuity of care, consistent clinical practices, and the flexibility to respond to changes in surgical demand.

The approach is reflected in NorthStar’s expanding ASC partnerships.  To date in 2026 alone, NorthStar has added 17 ASC partnerships, including CarePlex Orthopaedic Ambulatory Surgery Center in Norfolk, Virginia; Stony Point Surgery Center and West Creek Surgery Center, both part of MedRVA Healthcare in Richmond, Virginia; an Orthopedic Surgery Center in Wisconsin; Eye Surgery Center of Homewood in Homewood, Alabama; and The Toledo Clinic ASC in Toledo, Ohio.

These partnerships reflect the growing importance of anesthesia providers that can address both the clinical and operational needs of outpatient surgery centers.

To learn more and to request a confidential anesthesia program assessment, please contact James Bagliani, Director of Business Development, NorthStar Anesthesia at james.bagliani@northstaranesthesia.com. 

About NorthStar Anesthesia

NorthStar Anesthesia is a company of caregivers, founded by an anesthesiologist and a Certified Registered Nurse Anesthetist (CRNA). With more than 4,000 anesthesiologists and CRNAs under its banner, NorthStar partners with more than 280 healthcare client sites across more than 20 states and counting to deliver a more productive and efficient model of anesthesia care. Its care team approach focuses on the provision of high-quality care while measurably improving operating room performance.

Media Contact: James Bagliani, Director of Business Development, NorthStar Anesthesia james.bagliani@northstaranesthesia.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/amid-rising-costs-and-surgical-disruptions-in-ascs-northstar-anesthesia-strengthens-focus-on-asc-partnerships-302918226.html

SOURCE NorthStar Anesthesia

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Technology

Dimethylaminopropylamine Market to Reach USD 731.9 Million by 2035 on Surfactant and Epoxy Demand, Credence Research Finds

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LONDON, Oct. 23, 2026 /PRNewswire/ — Credence Research Inc. has added the “Dimethylaminopropylamine Market – Growth, Share, Opportunities & Competitive Analysis, 2025–2035” study to its market intelligence portfolio. The report examines market value, segmentation, demand drivers, regional dynamics, competition and recent industry developments.

The dimethylaminopropylamine (DMAPA) market was valued at USD 452.6 million in 2025 and is projected to reach USD 731.9 million by 2035, representing a 4.92% compound annual growth rate over 2025–2035, according to Credence Research. The firm estimates 2026 revenue at USD 474.3 million. Asia Pacific accounted for the largest modeled geographic share at 44.0% in 2025, while Asia Pacific is projected to grow fastest at 5.88% annually. Market sizes, regional shares and segment shares are Credence Research estimates rather than independently audited industry totals.

Key Takeaways

The market is forecast to increase from USD 452.6 million in 2025 to USD 731.9 million by 2035, with a reported CAGR of 4.92%.Asia Pacific led the modeled 2025 geography with 44.0%; Asia Pacific has the fastest forecast geographic growth of 5.88%.By application, Surfactants accounted for 61.0% of modeled 2025 value, while Epoxy curing agents is forecast to grow at 5.66% a year.By end-use industry, Personal care and cosmetics accounted for 44.0% of modeled 2025 value, while Paints, coatings and composites is forecast to grow at 5.61% a year.The market definition excludes adjacent product or transaction value where that spending is outside the report’s measured scope.

Scope & Segmentation – Dimethylaminopropylamine Market

The study values sales of 3-(dimethylamino)-1-propylamine, an amine intermediate produced from dimethylamine and acrylonitrile. Included uses span betaine and amine-oxide surfactants, epoxy curing agents, polyurethane catalysts, water treatment chemicals, agrochemical intermediates and lubricant additives. Finished surfactants, coatings and other downstream products are excluded from the DMAPA revenue estimate.

By application: Surfactants (betaines and amine oxides); Epoxy curing agents; Polyurethane catalysts; Water treatment chemicals; Agrochemical intermediates; Fuel and lubricant additives; Others.By end-use industry: Personal care and cosmetics; Home care and institutional cleaning; Paints, coatings and composites; Water treatment; Agriculture; Automotive and lubricants.By geography: Asia Pacific; Europe; North America; Latin America; Middle East and Africa.

Read the complete report and request a sample: https://www.credenceresearch.com/report/dimethylaminopropylamine-market 

Why This Report Matters

The study distinguishes a narrowly defined revenue pool from adjacent activity that can inflate comparisons between research estimates. This helps strategy teams compare suppliers, customer budgets and product categories on a consistent basis.The base-year segment mix identifies where current purchasing is concentrated, while the modeled faster-growing categories help evaluate investment timing and market entry.Geographic shares are proprietary estimates; company and regulatory announcements are used to explain demand mechanisms, not to independently verify global market totals.

Market Overview
The study values sales of 3-(dimethylamino)-1-propylamine, an amine intermediate produced from dimethylamine and acrylonitrile. Included uses span betaine and amine-oxide surfactants, epoxy curing agents, polyurethane catalysts, water treatment chemicals, agrochemical intermediates and lubricant additives. Finished surfactants, coatings and other downstream products are excluded from the DMAPA revenue estimate.

DMAPA is a building block for cocamidopropyl betaine and related surfactants used in shampoos, body washes and dishwashing products. Producers serving consumer brands require consistent quality and supply, so the largest application tends to support repeat orders rather than episodic equipment-style purchases.

The outlook reflects expected changes in customer adoption, procurement, technology and regulation. It should be read as a modeled scenario, not as a guarantee of sales or company performance.

Key Attributes

Attribute

Details

Base year

2025

Historical reference

2018–2025

2025 market size

USD 452.6 million

2026 estimate

USD 474.3 million

2035 market forecast

USD 731.9 million

Reported CAGR

4.92% (2025–2035)

Geographic scope

Global

Primary source

https://www.credenceresearch.com/report/dimethylaminopropylamine-market

Segmentation

By application
The study divides this category into surfactants (betaines and amine oxides); epoxy curing agents; polyurethane catalysts; water treatment chemicals; agrochemical intermediates; fuel and lubricant additives; others. Surfactants led the 2025 value mix with 61.0%. Epoxy curing agents is the fastest-growing modeled subsegment at 5.66% a year. These shares represent Credence Research model outputs, not audited supplier sales.

By end-use industry
The study divides this category into personal care and cosmetics; home care and institutional cleaning; paints, coatings and composites; water treatment; agriculture; automotive and lubricants. Personal care and cosmetics led the 2025 value mix with 44.0%. Paints, coatings and composites is the fastest-growing modeled subsegment at 5.61% a year. These shares represent Credence Research model outputs, not audited supplier sales.

Market Growth Drivers

Mild cleansing formulas sustain high-volume demand
DMAPA is a building block for cocamidopropyl betaine and related surfactants used in shampoos, body washes and dishwashing products. Producers serving consumer brands require consistent quality and supply, so the largest application tends to support repeat orders rather than episodic equipment-style purchases.

Epoxy hardeners provide a faster-growth outlet
DMAPA-based amidoamines are used in epoxy curing systems for floors, protective coatings and composite applications. Wind blade production and industrial maintenance provide additional demand. The report models epoxy curing agents as the fastest-growing application, although their value starts below surfactants.

Capacity integration shapes producer economics
The chemical route depends on dimethylamine and acrylonitrile, making feedstock access and energy costs important. Integrated producers can manage these inputs and purity requirements more directly, while regional buyers value dependable supply and local technical support.

Regional Analysis
Asia Pacific held 44.0% of modeled 2025 revenue, while Asia Pacific is expected to record the fastest regional growth at 5.88%. The allocation follows the study’s defined buyer or provider-revenue scope.

Asia Pacific
Asia Pacific represented 44.0% of modeled 2025 market value. China hosts extensive betaine and epoxy manufacturing and new intermediate capacity. Regional performance also depends on local regulation, industrial investment and purchasing conditions.

Europe
Europe represented 23.0% of modeled 2025 market value. Specialty formulations and high-purity specifications sustain demand. Regional performance also depends on local regulation, industrial investment and purchasing conditions.

North America
North America represented 21.0% of modeled 2025 market value. Personal care, coating and water treatment buyers support a mature market. Regional performance also depends on local regulation, industrial investment and purchasing conditions.

Latin America
Latin America represented 7.0% of modeled 2025 market value. Brazilian and Mexican cleaning and personal care production expands. Regional performance also depends on local regulation, industrial investment and purchasing conditions.

Middle East and Africa
Middle East and Africa represented 5.0% of modeled 2025 market value. Industrial chemicals and water treatment provide emerging outlets. Regional performance also depends on local regulation, industrial investment and purchasing conditions.

Market Challenges

Input prices and possible overcapacity
Changes in acrylonitrile and dimethylamine costs can pressure margins. New Asian capacity could also exceed near-term demand, creating price competition, especially for producers that lack integrated feedstock or differentiated purity grades.

Handling and product-purity requirements
DMAPA is a hazardous industrial intermediate requiring careful handling. Residual amines in downstream betaines can create sensitization concerns, so cosmetics customers increasingly emphasize analytical control, specifications and supplier qualification.

Future Outlook
Asia Pacific should remain the main production and demand center, with surfactants anchoring volume and epoxy applications contributing above-average growth. Supplier positioning will depend on feedstock integration, reliable logistics, high-purity grades and the pace at which new capacity is absorbed.

Competitive Landscape
BASF and Eastman Chemical are identified as integrated DMAPA producers, while Zhangjiagang Feixiang Chemical and Zhejiang Xinhua Chemical participate in Chinese production. Huntsman is relevant to downstream amine chemistry. Solvay, Evonik and Kao are better described as converters or customers for DMAPA-based surfactants rather than direct merchant DMAPA producers. No credible company-specific DMAPA revenue ranking is available.

Key Players
BASF; Eastman Chemical; Zhangjiagang Feixiang Chemical; Zhejiang Xinhua Chemical; Huntsman (downstream derivatives); Solvay (surfactants); Evonik (surfactants); Kao (surfactants)

Recent Developments

Oct. 16, 2025: BASF said the July start-up of expanded DMAPA production in Nanjing nearly doubled the site’s annual capacity and raised BASF’s global DMAPA capacity by more than 20% to approximately 85,000 metric tons.July 2025: As part of the same Nanjing project, BASF expanded polyetheramine capacity by about 25%. This is a related amine-chain investment, not an additional DMAPA plant.

Report Coverage
The study provides market estimates for 2025 and 2035, a 2026 interim estimate, analysis of the defined product and service scope, segment and geographic revenue shares, demand drivers, technology changes, competitive roles, constraints and recent dated developments. The reported CAGR and regional shares are based on Credence Research’s market model. Company announcements are contextual evidence and should not be interpreted as independent verification of the forecast.

Read the complete report and request a sample: https://www.credenceresearch.com/report/dimethylaminopropylamine-market 

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About Us
Credence Research Inc. is a global market intelligence and consulting firm founded in 2015. It provides quantitative market research, competitive intelligence and strategic advisory services to businesses, investors and other organizations. Its research draws on primary and secondary information, industry interviews and structured market models.

The firm analyzes market size, growth drivers, segmentation, regional opportunities, supply chains and competitive positioning across industrial, technology, energy, health care and consumer markets. Its studies help clients evaluate strategic and investment decisions with documented assumptions and industry context.

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Misty Ventures and Aplicata Technologies Announce Strategic Partnership to Pursue Canadian Defence Opportunities

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Together, Aplicata and Misty Ventures will leverage their respective expertise, networks, and resources to support the commercialization of innovative technologies and help bring impactful solutions to government and public-sector markets.

SASKATOON, SK, Oct. 23, 2026 /PRNewswire-PRWeb/ — Misty Ventures, the economic development arm of Mistawasis Nêhiyawak, and Aplicata Technologies, a trusted leader in high-performance computing platforms for mission-critical defence applications, today announced they have signed a Memorandum of Understanding to explore a strategic partnership focused on pursuing and strengthening Canadian defence market opportunities.

“Partnering with Misty Ventures allows us to bring our capabilities to the Canadian defence market in a way that also creates lasting economic benefit for Mistawasis Nêhiyawak. We’re excited about the opportunity to build something meaningful together.” Mohammad Darwish, CEO of Aplicata.

Aplicata and Misty Ventures have agreed to form a Saskatchewan-based joint venture to develop and commercialize electronic warfare (EW), signals intelligence (SIGINT) and intelligence, surveillance and reconnaissance (ISR) technologies for Canadian defence.

The joint venture will deliver solutions across uncrewed aerial vehicles, aircraft, ground vehicles and naval vessels, providing the Canadian Armed Forces with a decisive operational advantage through advanced, mission-critical technology. It brings together Aplicata’s engineering, manufacturing and market expertise with Misty Ventures’ business development experience and its access to skilled talent and defence markets.

A guiding principle of the partnership is to build upon the strong business acumen, entrepreneurial capacity, and strategic vision of Mistawasis Nêhiyawak and its affiliated Indigenous communities. Through this partnership, Mistawasis Nêhiyawak seeks to leverage these strengths to contribute meaningfully to Canada’s defence priorities, supporting the development of sovereign capabilities, domestic innovation, and resilient Canadian supply chains. In addition to technology licensing, Aplicata intends to support the partnership through advanced knowledge and skills development, enabling Mistawasis Nêhiyawak to further expand its participation in Canada’s defence and security ecosystem and create lasting economic opportunity.

“This partnership reflects our commitment to building long-term, sustainable economic opportunities for Mistawasis Nêhiyawak and our broader community,” said Robert Daniels, Chief Executive Officer of Misty Ventures. “By combining our experience and market reach with Aplicata’s proven technology and market expertise, we believe we can create a defence sector business that delivers real value for Canada while creating meaningful opportunities for our people.”

“Aplicata brings a long history of innovation in advanced technologies for defence,” said Mohammad Darwish, Chief Executive Officer of Aplicata Technologies. “Partnering with Misty Ventures allows us to bring our capabilities to the Canadian defence market in a way that also creates lasting economic benefit for Mistawasis Nêhiyawak. We’re excited about the opportunity to build something meaningful together.”

About Misty Ventures

Since 2015, Misty Ventures has been the economic development entity of Mistawasis Nêhiyawak, growing through strategic partnerships across Saskatchewan’s construction, mining, oil and gas, and renewable energy sectors. Misty Ventures continues to pursue investments and collaborations aligned with its vision, mission, and values.

www.mistyventures.ca

About Aplicata Technologies

Aplicata is a trusted leader in high-performance computing platforms for mission-critical defence applications. We create innovative solutions engineered for performance and reliability, delivering results our customers can depend on. Rooted in a culture of collaboration and driven by a shared sense of purpose, we serve government and commercial organizations alike, pushing the boundaries of technology to enable new possibilities.

www.aplicata.com

Media Contact

Media Relations, Aplicata Technologies, 1 (844) 250-6300, media@aplicata.com, www.aplicata.com

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SOURCE Aplicata Technologies

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