LendingClub Reports Third Quarter 2023 Results
SAN FRANCISCO, Oct. 25, 2023 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today announced financial results for the third quarter ended September 30, 2023.
- SAN FRANCISCO, Oct. 25, 2023 /PRNewswire/ -- LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America's leading digital marketplace bank, today announced financial results for the third quarter ended September 30, 2023.
- Total assets of $8.5 billion compared to $8.3 billion in the prior quarter, primarily reflecting growth in securities related to the structured certificate program.
- Deposits of $7.0 billion compared to $6.8 billion in the prior quarter, primarily due to an increase in customer certificates of deposit.
- Efficiency ratio improved to 63.7% compared to 65.0% in the prior quarter, driven by lower non-interest expense.