EXHIBIT 99.1

LendingClub Reports First Quarter 2022 Results

Delivers Record Revenue and Net Income

Revenue More than Doubles and Net Income Increases Over $85 million Year-over-Year

Raises 2022 Outlook

SAN FRANCISCO – April 27, 2022 – LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s leading digital marketplace bank, today announced financial results for the first quarter ended March 31, 2022

“We grew our member base beyond four million to serve more everyday Americans who are looking to refinance out of higher cost credit card debt, save more of what they earn and find a better way to bank,” said Scott Sanborn, LendingClub’s CEO. “With another quarter of record results, we are clearly demonstrating the power of our loyal customers, significant data advantage and differentiated marketplace bank model. We believe we are well positioned to execute on our strategy and outperform the competition while helping our members effectively navigate the ever changing economic landscape.”

Record First Quarter 2022 Results

•Revenue of $289.5 million grew 174% year-over-year, outpacing originations growth of 117%.

◦Recurring stream of net interest income grew 20% sequentially to $99.7 million and increased 439% year-over-year.

▪LendingClub Bank’s net interest margin increased sequentially to 8.6% from 8.3% and was up from 3.3% a year earlier, primarily reflecting growth in personal loans which generate a higher yield.

▪Total loans held for investment (excluding PPP) grew 23% from December 31, 2021 and 116% from March 31, 2021.

◦Marketplace revenue of $180.0 million grew 6% sequentially and 120% year-over-year, reflecting growth in marketplace originations and strong platform investor demand.

•Deposits of $4.0 billion were up 27% from December 31, 2021 and 68% from March 31, 2021, supporting growth in loans held for investment.

•Provision for credit losses was $52.5 million, reflecting 23% growth in loans held for investment (excluding PPP) from December 31, 2021. Credit quality of our retained portfolio remained strong given the credit profile of our borrowers with an average FICO of 727.

•Net income of $40.8 million rose 40% sequentially and by $87.9 million year-over-year.

•Diluted earnings per share of $0.39 was up 44% sequentially and compared to a loss of $0.49 per share in the first quarter of 2021. The improvement in diluted earnings per share reflected increased revenue and greater operating efficiency.

•Pre-tax, pre-provision income of $98.3 million increased 33% sequentially and by $126.8 million from the first quarter of 2021, consistent with revenue growth and operating efficiency which drove earnings growth for the same periods.

	Three Months Ended
($ in millions)	March 31, 2022		December 31, 2021		March 31, 2021
Total net revenue	$	289.5	$	262.2	$	105.8
Non-interest expense	191.2		188.2		134.3
Pre-tax, pre-provision income (loss)	98.3		74.0		(28.5)
Provision for credit losses	52.5		45.1		21.5
Income tax benefit (expense)	(5.0)		0.2		2.8
Consolidated net income (loss)	$	40.8	$	29.1	$	(47.1)
Diluted EPS	$	0.39	$	0.27	$	(0.49)

1

Financial Outlook

(millions)	Second Quarter 2022	Full Year 2022	Versus Prior Full Year 2022 Guidance
Total revenue	$295M to $305M	$1.15B to $1.25B	+$50M
Consolidated net income	$40M to $45M	$145M to $165M	+$15M

About LendingClub

LendingClub Corporation (NYSE: LC) is the parent company of LendingClub Bank, National Association, Member FDIC. LendingClub Bank is the leading digital marketplace bank in the U.S., where members can access a broad range of financial products and services designed to help them pay less when borrowing and earn more when saving. Based on more than 150 billion cells of data and over $70 billion in loans, our artificial intelligence-driven credit decisioning and machine-learning models are used across the customer lifecycle to expand seamless access to credit for our members, while generating compelling risk-adjusted returns for our loan investors. Since 2007, more than 4 million members have joined the Club to help reach their financial goals. For more information about LendingClub, visit https://www.lendingclub.com.

Conference Call and Webcast Information

The LendingClub first quarter 2022 webcast and teleconference is scheduled to begin at 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time) on Wednesday, April 27, 2022. A live webcast of the call will be available at http://ir.lendingclub.com under the Filings & Financials menu in Quarterly Results. To access the call, please dial +1 (844) 200-6205, or outside the U.S. +1 (929) 526-1599, with Access Code 007261, 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. An audio replay will also be available 1 hour after the end of the call until May 4, 2022, by calling +1 (866) 813-9403 or outside the U.S. +44 (204) 525-0658, with Access Code 997383. LendingClub has used, and intends to use, its investor relations website, blog (http://blog.lendingclub.com), Twitter handle (@LendingClub) 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.

Contacts

For Investors:

IR@lendingclub.com

Media Contact:

Press@lendingclub.com

Safe Harbor Statement

Some of the statements above, including statements regarding our competitive advantages, macroeconomic outlook, anticipated future performance and financial results, are “forward-looking statements.” The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “predict,” “project,” “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 ability to continue to attract and retain new and existing customers; competition; overall economic conditions; the regulatory environment; demand for the types of loans facilitated by us; 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. We may not actually achieve the plans, intentions or expectations disclosed in forward-looking statements, and you should not place undue reliance on forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in 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.

*****

2

LENDINGCLUB CORPORATION

OPERATING HIGHLIGHTS

(In thousands, except percentages or as noted)

(Unaudited)

The information in the following tables is presented for the consolidated LendingClub Corporation, unless specifically noted for LendingClub Bank, the company’s wholly-owned subsidiary:

	As of and for the three months ended															% Change
	March 31, 2022			December 31, 2021			September 30, 2021			June 30, 2021			March 31, 2021			Q/Q		Y/Y
Operating Highlights:
Non-interest income	$	189,857		$	179,111		$	180,878		$	158,476		$	87,334		6	%	117	%
Net interest income	99,680			83,132			65,288			45,905			18,506			20	%	439	%
Total net revenue	289,537			262,243			246,166			204,381			105,840			10	%	174	%
Non-interest expense	191,204			188,220			178,775			160,139			134,252			2	%	42	%
Pre-tax, pre-provision income (loss)	98,333			74,023			67,391			44,242			(28,412)			33	%	N/M
Provision for credit losses	52,509			45,149			37,524			34,634			21,493			16	%	144	%
Income tax benefit (expense)	(4,988)			234			(2,682)			(237)			2,821			N/M		N/M
Consolidated net income (loss)	$	40,836		$	29,108		$	27,185		$	9,371		$	(47,084)		40	%	N/M
Basic EPS – common stockholders	$	0.40		$	0.29		$	0.27		$	0.10		$	(0.49)		38	%	N/M
Diluted EPS – common stockholders	$	0.39		$	0.27		$	0.26		$	0.09		$	(0.49)		44	%	N/M
LendingClub Bank Performance Metrics:
Net interest margin	8.6		%	8.3		%	7.1		%	5.5		%	3.3		%
Efficiency ratio (1)	63.6		%	69.5		%	67.5		%	69.0		%	104.8		%
Return on average equity (ROE)	22.5		%	21.7		%	26.5		%	34.7		%	N/A
Return on average total assets (ROA)	3.1		%	3.1		%	3.7		%	4.7		%	N/A
LendingClub Bank Capital Ratios:
Common Equity Tier 1 Capital Ratio	16.0		%	16.7		%	18.0		%	18.7		%	20.9		%
Tier 1 Leverage Ratio	13.2		%	14.3		%	14.1		%	13.5		%	12.9		%
Consolidated LendingClub Corporation Performance Metrics:
Net interest margin	8.3		%	7.6		%	6.3		%	4.7		%	1.8		%
Efficiency ratio (1)	66.0		%	71.8		%	72.6		%	78.4		%	126.8		%
Return on average equity (ROE)	18.7		%	14.1		%	13.8		%	5.0		%	N/A
Return on average total assets (ROA)	3.1		%	2.4		%	2.4		%	0.8		%	N/A
Marketing expense as a % of loan originations	1.7		%	1.7		%	1.6		%	1.3		%	1.3		%
Loan originations (in millions) (2):
Total loan originations	$	3,217		$	3,069		$	3,107		$	2,722		$	1,483		5	%	117	%
Marketplace loans	$	2,360		$	2,308		$	2,471		$	2,182		$	1,139		2	%	107	%
Loan originations held for investment	$	856		$	761		$	636		$	541		$	344		12	%	149	%
Loan originations held for investment as a % of total loan originations	27		%	25		%	20		%	20		%	23		%
Servicing portfolio AUM (in millions) (3)	$	13,341		$	12,463		$	11,592		$	10,741		$	10,271		7	%	30	%
Balance Sheet Data:
Loans and leases held for investment, net, excluding PPP loans	$	3,049,325		$	2,486,440		$	2,235,698		$	1,791,492		$	1,414,900		23	%	116	%
PPP loans	$	184,986		$	268,297		$	367,558		$	507,553		$	664,400		(31)	%	(72)	%
Total loans and leases held for investment, net	$	3,234,311		$	2,754,737		$	2,603,256		$	2,299,045		$	2,079,300		17	%	56	%
Total assets	$	5,574,425		$	4,900,319		$	4,750,760		$	4,370,101		$	4,491,089		14	%	24	%

3

LENDINGCLUB CORPORATION

OPERATING HIGHLIGHTS (Continued)

(In thousands, except percentages or as noted)

(Unaudited)

	As of and for the three months ended															% Change
	March 31, 2022			December 31, 2021			September 30, 2021			June 30, 2021			March 31, 2021			Q/Q		Y/Y
Total deposits	$	3,977,477		$	3,135,788		$	2,838,719		$	2,539,704		$	2,373,437		27	%	68	%
Total liabilities	$	4,686,991		$	4,050,077		$	3,945,970		$	3,607,742		$	3,757,954		16	%	25	%
Total equity	$	887,434		$	850,242		$	804,790		$	762,359		$	733,135		4	%	21	%
Allowance Ratios:
Allowance for loan and lease losses to total loans and leases held for investment	5.5		%	5.0		%	3.9		%	3.0		%	1.7		%
Allowance for loan and lease losses to total loans and leases held for investment, excluding PPP loans	5.8		%	5.5		%	4.5		%	3.8		%	2.5		%
Allowance for loan and lease losses to consumer loans and leases held for investment	6.6		%	6.4		%	5.2		%	4.3		%	2.3		%
Allowance for loan and lease losses to commercial loans and leases held for investment	1.8		%	1.8		%	1.6		%	1.5		%	1.3		%
Allowance for loan and lease losses to commercial loans and leases held for investment, excluding PPP loans	2.3		%	2.6		%	2.6		%	2.8		%	1.7		%

N/M – Not meaningful

N/A – Not applicable

(1)    Calculated as the ratio of non-interest expense to total net revenue.

(2)    Includes unsecured personal loans, auto loans, and education and patient finance loans only.

(3)    Loans serviced on our platform, which includes unsecured personal loans, auto loans and education and patient finance loans serviced for others and retained for investment by the Company.

4

LENDINGCLUB CORPORATION

LOANS AND LEASES HELD FOR INVESTMENT

(In thousands, except percentages or as noted)

(Unaudited)

	March 31, 2022		December 31, 2021
Unsecured personal	$	2,358,792	$	1,804,578
Residential mortgages	169,117		151,362
Secured consumer	93,600		65,976
Total consumer loans held for investment	2,621,509		2,021,916
Equipment finance (1)	143,780		149,155
Commercial real estate	313,710		310,399
Commercial and industrial (2)	343,297		417,656
Total commercial loans and leases held for investment	800,787		877,210
Total loans and leases held for investment	3,422,296		2,899,126
Allowance for loan and lease losses	(187,985)		(144,389)
Loans and leases held for investment, net	$	3,234,311	$	2,754,737

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

(2)    Includes $185.0 million and $268.3 million of Paycheck Protection Program (PPP) loans as of March 31, 2022 and December 31, 2021, respectively. Such loans are guaranteed by the Small Business Association and, therefore, the Company determined no allowance for expected credit losses is required on these loans.

LENDINGCLUB CORPORATION

ALLOWANCE FOR LOAN AND LEASE LOSSES

(In thousands, except percentages or as noted)

(Unaudited)

	Three Months Ended
	March 31, 2022						December 31, 2021
	Consumer		Commercial		Total		Consumer		Commercial		Total
Allowance for loan and lease losses, beginning of period	$	128,812	$	15,577	$	144,389	$	88,631	$	16,105	$	104,736
Credit loss expense for loans and leases held for investment	53,718		(1,490)		52,228		45,595		(306)		45,289
Charge-offs	(9,017)		(72)		(9,089)		(5,557)		(313)		(5,870)
Recoveries	344		113		457		143		91		234
Allowance for loan and lease losses, end of period	$	173,857	$	14,128	$	187,985	$	128,812	$	15,577	$	144,389

5

LENDINGCLUB CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except share and per share data)

(Unaudited)

	Three Months Ended						Change (%)
	March 31, 2022		December 31, 2021		March 31, 2021		Q1 2022 vs Q1 2021		Q1 2022 vs Q4 2021
Non-interest income:
Marketplace revenue (1)	$	179,966	$	170,562	$	81,727	120	%	6	%
Other non-interest income	9,891		8,549		5,607		76	%	16	%
Total non-interest income	189,857		179,111		87,334		117	%	6	%
Interest income:
Interest on loans held for sale	7,450		7,153		5,157		44	%	4	%
Interest and fees on loans and leases held for investment	91,442		76,964		15,301		N/M		19	%
Interest on retail and certificate loans held for investment at fair value	6,969		9,236		20,262		(66)	%	(25)	%
Interest on other loans held for investment at fair value	593		762		1,479		(60)	%	(22)	%
Interest on securities available for sale	4,511		3,071		2,235		102	%	47	%
Other interest income	688		469		156		N/M		47	%
Total interest income	111,653		97,655		44,590		150	%	14	%
Interest expense:
Interest on deposits	3,438		2,616		1,014		239	%	31	%
Interest on short-term borrowings	435		561		1,264		(66)	%	(22)	%
Interest on retail notes, certificates and secured borrowings	6,969		9,236		20,262		(66)	%	(25)	%
Interest on Structured Program borrowings	764		1,642		3,208		(76)	%	(53)	%
Interest on other long-term debt	367		468		336		9	%	(22)	%
Total interest expense	11,973		14,523		26,084		(54)	%	(18)	%
Net interest income	99,680		83,132		18,506		N/M		20	%
Total net revenue	289,537		262,243		105,840		174	%	10	%
Provision for credit losses	52,509		45,149		21,493		144	%	16	%
Non-interest expense:
Compensation and benefits	81,610		78,741		64,420		27	%	4	%
Marketing	55,080		50,708		19,545		182	%	9	%
Equipment and software	11,046		12,019		7,893		40	%	(8)	%
Occupancy	6,019		4,706		6,900		(13)	%	28	%
Depreciation and amortization	11,039		10,462		11,766		(6)	%	6	%
Professional services	12,406		12,699		11,603		7	%	(2)	%
Other non-interest expense	14,004		18,885		12,125		15	%	(26)	%
Total non-interest expense	191,204		188,220		134,252		42	%	2	%
Income before income tax benefit (expense)	45,824		28,874		(49,905)		N/M		59	%
Income tax benefit (expense)	(4,988)		234		2,821		N/M		N/M
Consolidated net income (loss)	$	40,836	$	29,108	$	(47,084)	N/M		40	%

6

LENDINGCLUB CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Continued)

(In thousands, except share and per share data)

(Unaudited)

	Three Months Ended						Change (%)
	March 31, 2022		December 31, 2021		March 31, 2021		Q1 2022 vs Q1 2021	Q1 2022 vs Q4 2021
Basic EPS – common stockholders	$	0.40	$	0.29	$	(0.49)
Diluted EPS – common stockholders	$	0.39	$	0.27	$	(0.49)
Weighted-average common shares – Basic	101,493,561		100,320,691		92,666,169
Weighted-average common shares – Diluted	105,052,904		108,096,823		92,666,169

N/M – Not meaningful

(1)    Marketplace revenue consists of the following:

	Three Months Ended						Change (%)
	March 31, 2022		December 31, 2021		March 31, 2021		Q1 2022 vs Q1 2021		Q1 2022 vs Q4 2021
Origination fees	$	122,093	$	118,353	$	55,559	120	%	3	%
Servicing fees	18,514		20,940		23,166		(20)	%	(12)	%
Gain on sales of loans	24,110		20,569		8,323		190	%	17	%
Net fair value adjustments	15,249		10,700		(5,321)		N/M		43	%
Total marketplace revenue	$	179,966	$	170,562	$	81,727	120	%	6	%

7

LENDINGCLUB CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS BY SEGMENT

(In thousands, except share and per share data)

(Unaudited)

	Three months ended March 31, 2022
	LendingClub Bank		LendingClub Corporation (Parent only)		Intercompany Eliminations		Total
Non-interest income:
Marketplace revenue	$	164,835	$	15,131	$	—	$	179,966
Other non-interest income	19,498		4,223		(13,830)		9,891
Total non-interest income	184,333		19,354		(13,830)		189,857
Interest income:
Interest income	99,823		11,830		—		111,653
Interest expense	(3,644)		(8,329)		—		(11,973)
Net interest income	96,179		3,501		—		99,680
Total net revenue	280,512		22,855		(13,830)		289,537
Provision for credit losses	(52,509)		—		—		(52,509)
Non-interest expense	(178,459)		(26,575)		13,830		(191,204)
Income (Loss) before income tax benefit (expense)	49,544		(3,720)		—		45,824
Income tax benefit (expense)	(12,355)		17,727		(10,360)		(4,988)
Consolidated net income	$	37,189	$	14,007	$	(10,360)	$	40,836

	Three Months Ended December 31, 2021
	LendingClub Bank		LendingClub Corporation (Parent only)		Intercompany Eliminations		Total
Non-interest income:
Marketplace revenue	$	146,936	$	23,626	$	—	$	170,562
Other non-interest income	21,520		4,199		(17,170)		8,549
Total non-interest income	168,456		27,825		(17,170)		179,111
Interest income:
Interest income	83,310		14,345		—		97,655
Interest expense	(2,923)		(11,600)		—		(14,523)
Net interest income	80,387		2,745		—		83,132
Total net revenue	248,843		30,570		(17,170)		262,243
Reversal of (Provision for) credit losses	(45,244)		95		—		(45,149)
Non-interest expense	(173,017)		(32,373)		17,170		(188,220)
Income (Loss) before income tax benefit	30,582		(1,708)		—		28,874
Income tax benefit	1,305		20,192		(21,263)		234
Consolidated net income	$	31,887	$	18,484	$	(21,263)	$	29,108

8

LENDINGCLUB CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS BY SEGMENT (Continued)

(In thousands, except share and per share data)

(Unaudited)

	Three Months Ended March 31, 2021
	LendingClub Bank		LendingClub Corporation (Parent only)		Intercompany Eliminations		Total
Non-interest income:
Marketplace revenue	$	36,062	$	45,665	$	—	$	81,727
Other non-interest income	19,700		4,098		(18,191)		5,607
Total non-interest income	55,762		49,763		(18,191)		87,334
Interest income:
Interest income	17,498		27,092		—		44,590
Interest expense	(1,247)		(24,837)		—		(26,084)
Net interest income	16,251		2,255		—		18,506
Total net revenue	72,013		52,018		(18,191)		105,840
Reversal of (Provision for) credit losses	(23,963)		2,470		—		(21,493)
Non-interest expense	(75,499)		(76,944)		18,191		(134,252)
Loss before income tax benefit	(27,449)		(22,456)		—		(49,905)
Income tax benefit	23		2,292		506		2,821
Consolidated net loss	$	(27,426)	$	(20,164)	$	506	$	(47,084)

9

LENDINGCLUB BANK

NET INTEREST INCOME

(In thousands, except percentages or as noted)

(Unaudited)

	LendingClub Bank
	Three Months Ended March 31, 2022						Three Months Ended December 31, 2021						Two Months Ended March 31, 2021
	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 (1)
Cash, cash equivalents, restricted cash and other	$	829,707	$	683	0.33	%	$	651,003	$	468	0.29	%	$	737,555	$	138	0.11	%
Securities available for sale at fair value	274,089		1,276		1.86	%	200,091		680		1.36	%	232,001		444		1.15	%
Loans held for sale	228,529		6,422		11.24	%	122,007		5,199		17.04	%	64,720		1,615		14.97	%
Loans and leases held for investment:
Unsecured personal loans	2,060,323		78,376		15.22	%	1,542,285		60,383		15.66	%	146,925		3,392		13.85	%
Secured consumer loans	232,235		2,275		3.92	%	436,260		4,029		3.69	%	521,399		3,215		3.70	%
Commercial loans and leases	620,660		7,588		4.89	%	619,648		8,663		5.59	%	605,495		5,119		5.07	%
PPP loans	222,517		3,203		5.76	%	325,133		3,888		4.78	%	621,292		3,575		3.45	%
Loans and leases held for investment	3,135,735		91,442		11.66	%	2,923,326		76,963		10.53	%	1,895,111		15,301		4.84	%
Total interest-earning assets	4,468,060		99,823		8.94	%	3,896,427		83,310		8.55	%	2,929,387		17,498		3.58	%
Cash and due from banks	46,117						23,362						42,683
Allowance for loan and lease losses	(163,631)						(125,120)						(30,357)
Other non-interest earning assets	390,066						326,402						187,785
Total assets	$	4,740,612					$	4,121,071					$	3,129,498
Interest-bearing liabilities
Interest-bearing deposits
Checking and money market accounts	$	2,240,450	$	1,724	0.31	%	$	2,146,687	$	1,716	0.32	%	$	1,735,274	$	913	0.33	%
Savings accounts and certificates of deposit	1,071,133		1,714		0.65	%	580,361		900		0.62	%	323,800		101		0.19	%
Interest-bearing deposits	3,311,583		3,438		0.42	%	2,727,048		2,616		0.38	%	2,059,074		1,014		0.30	%
Short-term borrowings	165		—		—	%	282		—		—	%	1,829		0.3		0.09	%
Advances from PPPLF	234,872		206		0.35	%	342,335		307		0.36	%	405,989		233		0.35	%
Total interest-bearing liabilities	3,546,620		3,644		0.42	%	3,069,665		2,923		0.38	%	2,469,726		1,247		0.31	%
Non-interest bearing deposits	300,218						283,066						156,034
Other liabilities	232,018						179,752						68,510
Total liabilities	$	4,078,856					$	3,532,483					$	2,694,270
Total equity	$	661,756					$	588,588					$	435,228
Total liabilities and equity	$	4,740,612					$	4,121,071					$	3,129,498
Interest rate spread					8.52	%					8.17	%					3.27	%
Net interest income and net interest margin			$	96,179	8.61	%			$	80,387	8.25	%			$	16,251	3.33	%

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

10

LENDINGCLUB CORPORATION

NET INTEREST INCOME (Continued)

(In thousands, except percentages or as noted)

(Unaudited)

	Consolidated LendingClub Corporation (1)
	Three Months Ended March 31, 2022						Three Months Ended December 31, 2021						Three Months Ended March 31, 2021
	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	$	892,921	$	688	0.31	%	$	710,472	$	469	0.26	%	$	918,148	$	156	0.10	%
Securities available for sale at fair value	325,155		4,511		5.55	%	265,140		3,071		4.63	%	362,621		2,235		2.71	%
Loans held for sale	255,139		7,450		11.68	%	184,708		7,153		15.49	%	198,592		5,157		12.01	%
Loans and leases held for investment:
Unsecured personal loans	2,060,323		78,376		15.22	%	1,542,285		60,384		15.66	%	146,925		3,392		13.85	%
Secured consumer loans	232,235		2,275		3.92	%	436,260		4,029		3.69	%	521,399		3,215		3.70	%
Commercial loans and leases	620,660		7,588		4.89	%	619,648		8,663		5.59	%	605,495		5,119		5.07	%
PPP loans	222,517		3,203		5.76	%	325,133		3,888		4.78	%	621,292		3,575		3.45	%
Loans and leases held for investment	3,135,735		91,442		11.66	%	2,923,326		76,964		10.53	%	1,895,111		15,301		4.84	%
Retail and certificate loans held for investment at fair value	198,813		6,969		14.02	%	262,548		9,236		14.07	%	574,158		20,262		14.12	%
Other loans held for investment at fair value	18,523		593		12.80	%	24,184		762		12.60	%	46,212		1,479		12.80	%
Total interest-earning assets	4,826,286		111,653		9.25	%	4,370,378		97,655		8.94	%	3,994,842		44,590		5.34	%
Cash and due from banks and restricted cash	92,683						73,258						137,216
Allowance for loan and lease losses	(163,631)						(125,120)						(30,357)
Other non-interest earning assets	486,363						465,010						326,040
Total assets	$	5,241,701					$	4,783,526					$	4,427,741
Interest-bearing liabilities
Interest-bearing deposits:
Checking and money market accounts	$	2,240,450	$	1,724	0.31	%	$	2,146,687	$	1,716	0.32	%	$	1,735,274	$	913	0.33	%
Savings accounts and certificates of deposit	1,071,133		1,714		0.64	%	580,361		900		0.62	%	323,800		101		0.19	%
Interest-bearing deposits	3,311,583		3,438		0.42	%	2,727,048		2,616		0.38	%	2,059,074		1,014		0.30	%
Short-term borrowings	20,371		435		8.56	%	36,823		561		6.08	%	98,818		1,264		5.12	%
Advances from PPPLF	234,872		206		0.35	%	342,335		307		0.36	%	405,989		233		0.35	%
Retail notes, certificates and secured borrowings	198,813		6,969		14.02	%	262,548		9,236		14.07	%	574,192		20,262		14.12	%
Structured Program borrowings	42,026		764		7.29	%	77,354		1,642		8.49	%	143,045		3,208		8.97	%
Other long-term debt	15,421		161		4.19	%	15,514		161		4.15	%	18,605		103		2.21	%
Total interest-bearing liabilities	3,823,086		11,973		1.25	%	3,461,622		14,523		1.68	%	3,299,723		26,084		3.24	%

11

LENDINGCLUB CORPORATION

NET INTEREST INCOME (Continued)

(In thousands, except percentages or as noted)

(Unaudited)

	Consolidated LendingClub Corporation (1)
	Three Months Ended March 31, 2022						Three Months Ended December 31, 2021						Three Months Ended March 31, 2021
	Average Balance		Interest Income/ Expense		Average Yield/ Rate		Average Balance		Interest Income/ Expense		Average Yield/ Rate		Average Balance		Interest Income/ Expense		Average Yield/ Rate
Non-interest bearing deposits	227,337						211,692						119,272
Other liabilities	319,241						282,339						286,907
Total liabilities	$	4,369,664					$	3,955,653					$	3,705,902
Total equity	$	872,037					$	827,873					$	721,839
Total liabilities and equity	$	5,241,701					$	4,783,526					$	4,427,741
Interest rate spread					8.00	%					7.26	%					2.11	%
Net interest income and net interest margin			$	99,680	8.26	%			$	83,132	7.61	%			$	18,506	2.67	%

(1)    Consolidated presentation reflects intercompany eliminations.

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

12

LENDINGCLUB CORPORATION

CONSOLIDATED BALANCE SHEETS

(In Thousands, Except Share and Per Share Amounts)

(Unaudited)

	March 31, 2022		December 31, 2021
Assets
Cash and due from banks	$	30,986	$	35,670
Interest-bearing deposits in banks	1,022,239		651,456
Total cash and cash equivalents	1,053,225		687,126
Restricted cash	60,507		76,460
Securities available for sale at fair value (includes $402,944 and $256,170 at amortized cost, respectively)	390,317		263,530
Loans held for sale (includes $156,730 and $142,370 at fair value, respectively)	156,730		391,248
Loans and leases held for investment	3,422,296		2,899,126
Allowance for loan and lease losses	(187,985)		(144,389)
Loans and leases held for investment, net	3,234,311		2,754,737
Retail and certificate loans held for investment at fair value	168,906		229,719
Other loans held for investment at fair value	15,384		21,240
Property, equipment and software, net	111,503		97,996
Goodwill	75,717		75,717
Other assets	307,825		302,546
Total assets	$	5,574,425	$	4,900,319
Liabilities and Equity
Deposits:
Interest-bearing	$	3,715,847	$	2,919,203
Noninterest-bearing	261,630		216,585
Total deposits	3,977,477		3,135,788
Short-term borrowings	13,188		27,780
Advances from Paycheck Protection Program Liquidity Facility (PPPLF)	193,371		271,933
Retail notes, certificates and secured borrowings at fair value	168,906		229,719
Payable on Structured Program borrowings	20,347		65,451
Other long-term debt	15,388		15,455
Other liabilities	298,314		303,951
Total liabilities	4,686,991		4,050,077
Equity
Series A Preferred stock, $0.01 par value; 1,200,000 shares authorized; 0 shares issued and outstanding	—		—
Common stock, $0.01 par value; 180,000,000 shares authorized; 102,194,037 and 101,043,924 shares issued and outstanding, respectively	1,022		1,010
Additional paid-in capital (1)	1,576,147		1,609,820
Accumulated deficit (1)	(676,594)		(767,634)
Accumulated other comprehensive income	(13,141)		7,046
Total equity	887,434		850,242
Total liabilities and equity	$	5,574,425	$	4,900,319

(1)     As a result of the adoption of Accounting Standards Update 2020-06, reflects a reclassification in the first quarter of 2021 from Accumulated Deficit to Additional Paid-in Capital of the $50.2 million deemed dividend that was recorded in the first quarter of 2020 related to the convertible Series A preferred stock.

13

LENDINGCLUB CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS BY SEGMENT

(In Thousands, Except Share and Per Share Amounts)

(Unaudited)

	LendingClub Bank				LendingClub Corporation (Parent only)				Intercompany Eliminations				Total
	March 31, 2022		December 31, 2021		March 31, 2022		December 31, 2021		March 31, 2022		December 31, 2021		March 31, 2022		December 31, 2021
Assets
Total cash and cash equivalents	$	1,014,464	$	659,919	$	119,711	$	88,268	$	(80,950)	$	(61,061)	$	1,053,225	$	687,126
Restricted cash	—		—		64,165		76,540		(3,658)		(80)		60,507		76,460
Securities available for sale at fair value	345,964		205,730		44,353		57,800		—		—		390,317		263,530
Loans held for sale	145,117		335,449		11,613		55,799		—		—		156,730		391,248
Loans and leases held for investment, net	3,234,311		2,754,737		—		—		—		—		3,234,311		2,754,737
Retail and certificate loans held for investment at fair value	—		—		168,906		229,719		—		—		168,906		229,719
Other loans held for investment at fair value	—		—		15,384		21,240		—		—		15,384		21,240
Property, equipment and software, net	57,482		36,424		54,021		61,572		—		—		111,503		97,996
Investment in subsidiary	—		—		591,051		557,577		(591,051)		(557,577)		—		—
Goodwill	75,717		75,717		—		—		—		—		75,717		75,717
Other assets	292,043		254,075		149,099		168,042		(133,317)		(119,571)		307,825		302,546
Total assets	5,165,098		4,322,051		1,218,303		1,316,557		(808,976)		(738,289)		5,574,425		4,900,319
Liabilities and Equity
Total deposits	4,062,084		3,196,929		—		—		(84,607)		(61,141)		3,977,477		3,135,788
Short-term borrowings	164		165		13,024		27,615		—		—		13,188		27,780
Advances from PPPLF	193,371		271,933		—		—		—		—		193,371		271,933
Retail notes, certificates and secured borrowings at fair value	—		—		168,906		229,719		—		—		168,906		229,719
Payable on Structured Program borrowings	—		—		20,347		65,451		—		—		20,347		65,451
Other long-term debt	—		—		15,388		15,455		—		—		15,388		15,455
Other liabilities	218,365		218,775		143,701		150,727		(63,752)		(65,551)		298,314		303,951
Total liabilities	4,473,984		3,687,802		361,366		488,967		(148,359)		(126,692)		4,686,991		4,050,077
Total equity	691,114		634,249		856,937		827,590		(660,617)		(611,597)		887,434		850,242
Total liabilities and equity	$	5,165,098	$	4,322,051	$	1,218,303	$	1,316,557	$	(808,976)	$	(738,289)	$	5,574,425	$	4,900,319

14