0001409970-26-000018 | 10-K | XBRL Viewer

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Leases - Schedule of Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Leases [Abstract]
Operating lease assets	$ 12,942	$ 21,304
Operating lease liabilities	$ 15,826	$ 28,502
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities	Other liabilities

Income Taxes - Schedule of Reconciliation of the Beginning and Ending Balance of Total Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Unrecognized Tax Benefits [Roll Forward]
Unrecognized tax benefits at beginning of year	$ 33,073	$ 30,062	$ 27,850
Gross increase (decrease) – tax positions related to prior years	(6,195)	671	(161)
Gross increase – tax positions related to current year	2,310	2,340	2,373
Unrecognized tax benefits at end of year	$ 29,188	$ 33,073	$ 30,062

Loans and Leases Held for Investment at Amortized Cost, Net of Allowance for Loan and Lease Losses - Schedule of Components of Portfolio Segment Receivables (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans and leases held for investment	$ 4,272,812	$ 4,125,818
Allowance for loan and lease losses	$ 275,743	$ 236,734	$ 310,387	$ 327,852
Allowance ratios (as a percent)	6.50%	5.70%
Gross allowance for loan and lease losses	$ 312,667	$ 285,686
Gross allowance ratio (as a percent)	7.30%	6.90%
Consumer
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans and leases held for investment	$ 3,603,548	$ 3,509,415
Allowance for loan and lease losses	$ 258,811	$ 212,598	298,061	312,489
Allowance ratios (as a percent)	7.20%	6.10%
Gross allowance for loan and lease losses	$ 295,735	$ 261,550
Gross allowance ratio (as a percent)	8.20%	7.50%
Commercial
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans and leases held for investment	$ 669,264	$ 616,403
Allowance for loan and lease losses	$ 16,932	$ 24,136	$ 12,326	$ 15,363
Allowance ratios (as a percent)	2.50%	3.90%
Gross allowance for loan and lease losses	$ 16,932	$ 24,136
Gross allowance ratio (as a percent)	2.50%	3.90%

Regulatory Requirements

12 Months Ended

Dec. 31, 2025

Regulated Operations [Abstract]

Regulatory Requirements

LendingClub and LC Bank are subject to comprehensive supervision, examination and enforcement, and regulation by the FRB and the Office of the Comptroller of the Currency (OCC), respectively, including generally similar capital adequacy requirements adopted by both agencies.

These requirements establish required minimum ratios for Common Equity Tier 1 (CET1) risk-based capital, Tier 1 risk-based capital, total risk-based capital and a Tier 1 leverage ratio; set risk-weighting for assets and certain other items for purposes of the risk-based capital ratios; and define what qualifies as capital for purposes of meeting the capital requirements. Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company. The minimum capital requirements under the Basel Committee on Banking Supervision standardized approach for U.S. banking organizations (Basel III) capital framework are: a CET1 risk-based capital ratio of 4.5%, a Tier 1 risk-based capital ratio of 6.0%, a total risk-based capital ratio of 8.0%, and a Tier 1 leverage ratio of 4.0%. Additionally, a capital conservation buffer of 2.5% must be maintained above the minimum risk-based capital requirements in order to avoid certain limitations on capital distributions, share repurchases, and certain

discretionary bonus payments. In addition to these guidelines, the regulators assess any particular institution’s capital adequacy based on numerous factors and may require a particular banking organization to maintain capital at levels higher than the generally applicable minimums prescribed under the Basel III capital framework. The Federal Deposit Insurance Act provides for a system of “prompt corrective action” (PCA). The PCA framework provides for capitalization categories ranging from “well-capitalized” to “critically undercapitalized.” An institution’s PCA category is determined primarily by its regulatory capital ratios. The PCA requires remedial actions and imposes limitations that become increasingly stringent as its PCA capitalization category declines, including the ability to accept and/or rollover brokered deposits. At December 31, 2025 and 2024, the Company’s and LC Bank’s regulatory capital ratios exceeded the thresholds required to be regarded as “well-capitalized” institutions and met all capital adequacy requirements to which they are subject. There have been no events or conditions since December 31, 2025 that management believes would change the Company’s categorization.

The following table presents the actual capital amounts and ratios of the Company and LC Bank as well as LC Bank’s regulatory minimum and “well-capitalized” requirements (dollars in millions):


	December 31, 2025				December 31, 2024				Required Minimum (1)		Well-Capitalized Minimum
	Amount		Ratio		Amount		Ratio
LendingClub Corporation:
CET1 capital (2)	$	1,342.6	17.4	%	$	1,188.6	17.3	%	7.0	%	N/A
Tier 1 capital	$	1,342.6	17.4	%	$	1,188.6	17.3	%	8.5	%	6.0	%
Total capital	$	1,441.0	18.7	%	$	1,276.5	18.5	%	10.5	%	10.0	%
Tier 1 leverage	$	1,342.6	12.0	%	$	1,188.6	11.0	%	4.0	%	N/A
Risk-weighted assets	$	7,696.1	N/A		$	6,887.1	N/A		N/A		N/A
Quarterly adjusted average assets	$	11,174.0	N/A		$	10,814.0	N/A		N/A		N/A

LendingClub Bank:
CET1 capital (2)	$	1,183.9	15.5	%	$	1,101.4	16.1	%	7.0	%	6.5	%
Tier 1 capital	$	1,183.9	15.5	%	$	1,101.4	16.1	%	8.5	%	8.0	%
Total capital	$	1,281.8	16.8	%	$	1,188.5	17.4	%	10.5	%	10.0	%
Tier 1 leverage	$	1,183.9	10.7	%	$	1,101.4	10.3	%	4.0	%	5.0	%
Risk-weighted assets	$	7,652.0	N/A		$	6,823.1	N/A		N/A		N/A
Quarterly adjusted average assets	$	11,090.4	N/A		$	10,696.7	N/A		N/A		N/A

N/A – Not applicable

(1) Required minimums presented for risk-based capital ratios include the required capital conservation buffer of 2.5%.

(2) CET1 capital consists of common stockholders’ equity as defined under U.S. GAAP and certain adjustments made in accordance with regulatory capital guidelines, including the addition of the CECL transitional benefit and deductions for goodwill and other intangible assets.

Federal laws and regulations limit the ability of national banks, such as LC Bank, to pay dividends based upon, among other things, maintaining required levels of regulatory capital and retained net profits for the preceding two calendar years plus retained net profits up to the date of any dividend declaration in the current calendar year. Retained net profits, as defined by the OCC, consist of net income less dividends declared during the period. During the first quarter of 2025, LC Bank paid a $50 million cash dividend to LendingClub Corporation to return a capital contribution made by LendingClub Corporation to LC Bank in the second half of 2024. LC Bank has not otherwise declared any dividends.

Federal law restricts the amount and the terms of both credit and non-credit transactions between a bank and its nonbank affiliates. These covered transactions may not exceed 10% of the bank’s capital and surplus (which for this purpose represents tier 1 and tier 2 capital, as calculated under the risk-based capital rules, plus the balance of the ACL excluded from tier 2 capital) with any single nonbank affiliate and 20% of the bank’s capital and surplus with all its nonbank affiliates. Covered transactions that are extensions of credit may require collateral to be pledged to provide added security to the bank.

- Definition

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

+ References + Details

Marketplace Revenue

12 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

Marketplace Revenue

Marketplace revenue consists of (i) origination fees, (ii) servicing fees, (iii) gain on sales of loans and (iv) net fair value adjustments, as described below.

Origination Fees: Fees charged to borrowers in connection with the origination of loans that are held for sale.

Servicing Fees: The Company receives servicing fees to compensate it for servicing loans on behalf of marketplace investors, including managing payments from borrowers and remittances to those investors. The amount of servicing fee revenue earned is predominantly affected by the servicing rates paid by investors and the outstanding principal balance of loans serviced for investors. Servicing fee revenue related to loans sold also includes the associated change in the fair value of servicing assets.

Gain on Sales of Loans: In connection with loan sales to marketplace investors, the Company capitalizes the initial fair value of servicing rights. A gain or loss is recorded based on the level to which the contractual servicing fee is above or below an estimated market rate of servicing at the time of sale. Additionally, the Company recognizes transaction costs, if any, as a loss on sale of loans.

Net Fair Value Adjustments: The Company records adjustments to the carrying value of loans, for which it has elected to account for under the fair value option, to reflect their fair value. These adjustments include gains or losses from sale prices in excess of or less than the loan principal amount sold and realized net charge-offs. In addition, as loans are held on the Balance Sheet, incremental fair value adjustments on the loans are recorded in “Net fair value adjustments” within “Marketplace revenue,” whereas the associated interest income is recorded within “Net interest income.”

The following table presents components of marketplace revenue for the periods presented:


Year Ended December 31,	2025		2024		2023
Origination fees	$	372,815	$	283,420	$	279,146
Servicing fees	58,988		64,933		98,613
Gain on sales of loans	59,087		49,097		47,839
Net fair value adjustments	(134,946)		(154,659)		(134,114)
Total marketplace revenue	$	355,944	$	242,791	$	291,484

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Name Accounting Standards Codification
-Section 50
-Paragraph 7
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-15

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479806/606-10-50-12

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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+ Details

Income Taxes - Schedule of Cash Paid, Net of Refund (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Effective Income Tax Rate Reconciliation [Line Items]
Federal	$ 1,950	$ 0	$ 1,625
State:
Total State	1,427	275	5,006
Income taxes, net of amounts refunded	3,377	275	6,631
Illinois
State:
Total State			1,406
New Jersey
State:
Total State			1,021
Georgia
State:
Total State			591
New York
State:
Total State	185	124
New York MCTD
State:
Total State		48
Texas
State:
Total State	380	132
New York City
State:
Total State		119
Oregon
State:
Total State		96
Pennsylvania
State:
Total State		15
Utah
State:
Total State		(160)	(519)
Colorado
State:
Total State		(94)
Other
State:
Total State	$ 862	$ (5)	$ 2,507

Securities Available for Sale - Schedule of Contractual Maturities of AFS Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Amortized Cost
Amortized cost, after 1 year through 5 years	$ 3,308,809
Amortized cost, due after 5 years through 10 years	48,923
Amortized cost, due after 10 years	376,048
Amortized Cost	3,733,780	$ 3,492,264
Fair Value
Fair value, after 1 year through 5 years	3,329,657
Fair value, due after 5 years through 10 years	45,234
Fair value, due after 10 years	331,818
Fair Value	$ 3,706,709	3,452,648
Weighted-average yield, due after 1 year through 5 years	6.66%
Weighted-average yield, due after 5 years through 10 years	3.62%
Weighted-average yield, due after 10 years	3.09%
Weighted-average yield	6.24%
U.S. agency securities
Amortized Cost
Amortized cost, after 1 year through 5 years	$ 4,849
Amortized cost, due after 5 years through 10 years	35,472
Amortized cost, due after 10 years	44,143
Amortized Cost	84,464	90,459
Fair Value
Fair value, after 1 year through 5 years	4,787
Fair value, due after 5 years through 10 years	31,970
Fair value, due after 10 years	37,105
Fair Value	73,862	75,946
Senior asset-backed securities related to Structured Program transactions
Amortized Cost
Amortized cost, after 1 year through 5 years	3,065,885
Amortized Cost	3,065,885	2,870,071
Fair Value
Fair value, after 1 year through 5 years	3,092,410
Fair Value	3,092,410	2,899,824
Other asset-backed securities related to Structured Program transactions
Amortized Cost
Amortized cost, after 1 year through 5 years	224,802
Amortized Cost	224,802	174,132
Fair Value
Fair value, after 1 year through 5 years	219,370
Fair Value	219,370	169,948
Mortgage-backed securities
Amortized Cost
Amortized cost, after 1 year through 5 years	2,552
Amortized cost, due after 5 years through 10 years	880
Amortized cost, due after 10 years	56,991
Amortized Cost	60,423	62,882
Fair Value
Fair value, after 1 year through 5 years	2,403
Fair value, due after 5 years through 10 years	779
Fair value, due after 10 years	52,415
Fair Value	55,597	56,674
Municipal securities
Amortized Cost
Amortized cost, after 1 year through 5 years	458
Amortized cost, due after 5 years through 10 years	154
Amortized cost, due after 10 years	2,603
Amortized Cost	3,215	3,236
Fair Value
Fair value, after 1 year through 5 years	429
Fair value, due after 5 years through 10 years	142
Fair value, due after 10 years	2,035
Fair Value	2,606	2,539
U.S. agency residential mortgage-backed securities
Amortized Cost
Amortized cost, after 1 year through 5 years	127
Amortized cost, due after 5 years through 10 years	2,751
Amortized cost, due after 10 years	264,975
Fair Value
Fair value, after 1 year through 5 years	121
Fair value, due after 5 years through 10 years	2,669
Fair value, due after 10 years	233,271
Fair Value	236,061	226,925
Other securities
Amortized Cost
Amortized cost, after 1 year through 5 years	10,136
Amortized cost, due after 5 years through 10 years	9,666
Amortized cost, due after 10 years	7,336
Amortized Cost	27,138	21,364
Fair Value
Fair value, after 1 year through 5 years	10,137
Fair value, due after 5 years through 10 years	9,674
Fair value, due after 10 years	6,992
Fair Value	$ 26,803	$ 20,792

Cover Page - USD ($)	12 Months Ended
Cover Page - USD ($)	Dec. 31, 2025	Jan. 30, 2026	Jun. 30, 2025
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2025
Current Fiscal Year End Date	--12-31
Entity File Number	001-36771
Entity Registrant Name	LendingClub Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	51-0605731
Entity Address, Address Line One	595 Market Street, Suite 200,
Entity Address, City or Town	San Francisco,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94105
City Area Code	415
Local Phone Number	930-7440
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	LC
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 1,205,883,976
Entity Common Stock, Shares Outstanding (shares)		115,180,598
Documents Incorporated by Reference	Portions of the registrant’s Definitive Proxy Statement for the Registrant’s 2026 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K to the extent stated herein. Such Definitive Proxy Statement will be filed with the Securities and Exchange Commission within 120 days after the end of the registrant’s fiscal year ended December 31, 2025.
Entity Central Index Key	0001409970
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	FY
Amendment Flag	false

Fair Value Measurements - Schedule of Significant Unobservable Inputs Used in the Fair Value Measurement of Servicing Assets (Details) - Level 3	Dec. 31, 2025	Dec. 31, 2024
Minimum \| Discount rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.089	0.087
Minimum \| Annualized net credit loss rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.033	0.018
Minimum \| Annualized prepayment rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.199	0.148
Minimum \| Market servicing rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.0058	0.0062
Maximum \| Discount rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.162	0.173
Maximum \| Annualized net credit loss rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.195	0.212
Maximum \| Annualized prepayment rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.259	0.275
Maximum \| Market servicing rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.0058	0.0062
Weighted-Average \| Discount rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.104	0.108
Weighted-Average \| Annualized net credit loss rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.065	0.082
Weighted-Average \| Annualized prepayment rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.246	0.200
Weighted-Average \| Market servicing rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.0058	0.0062

Leases - Schedule of Future Minimum Lease Payments Based on Maturity (Details) $ in Thousands	Dec. 31, 2025 USD ($)
Leases [Abstract]
2026	$ 13,420
2027	7,469
2028	3,823
2029	1,476
2030	0
Total lease payments	26,188
Discount effect	(804)
Present value of future minimum lease payments	$ 25,384

Property, Equipment and Software, Net (Tables)

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Schedule of Property, Equipment and Software, Net

Property, equipment and software, net, consist of the following:


December 31,	2025		2024
Software (1)	$	259,773	$	222,000
Land, building and building improvements (2) (3)	81,601		—
Leasehold improvements	30,686		30,699
Computer equipment (4)	5,829		22,216
Furniture and fixtures	5,554		5,554
Total property, equipment and software	383,443		280,469
Accumulated depreciation and amortization	(129,355)		(112,937)
Total property, equipment and software, net	$	254,088	$	167,532

(1) Includes $28.3 million and $43.4 million of development in progress for internally-developed software and $6.8 million and $7.1 million of development in progress to customize purchased software as of December 31, 2025 and 2024, respectively.

(2) In April 2025, the Company acquired an office building which will be used as the Company’s headquarters beginning in the second quarter of 2026. See “Note 17. Leases” for additional information.

(3) Includes $7.7 million of building improvements in progress as of December 31, 2025.

(4) During the first quarter of 2025, the Company retired $16.8 million of fully depreciated computer equipment as part of its migration onto a cloud-based hosting platform.

Securities Available for Sale - Schedule of Activity in the Allowance for Credit Losses for AFS Securities, by Security Type (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Other asset-backed securities related to Structured Program transactions:
Allowance for credit losses, beginning of period	$ 3,527
Allowance for credit losses, end of period	4,093	$ 3,527
Other asset-backed securities related to Structured Program transactions
Other asset-backed securities related to Structured Program transactions:
Allowance for credit losses, beginning of period	3,527	0
Credit loss expense for securities available for sale	566	3,527
Allowance for credit losses, end of period	$ 4,093	$ 3,527

Income Taxes - Schedule of NOLs and Tax Credit Carryforwards by Jurisdiction (Details) $ in Thousands	Dec. 31, 2025 USD ($)
State:
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards	$ 0
State: \| Research and Development
Operating Loss Carryforwards [Line Items]
Tax credit carryforwards	35,542
State
Operating Loss Carryforwards [Line Items]
Net operating loss carryforwards, subject to expiration	483,357
Net operating loss carryforwards, not subject to expiration	41,195
State \| Research and Development
Operating Loss Carryforwards [Line Items]
Tax credit carryforwards	$ 22,545

Fair Value Measurements - Schedule of Sensitivity in the Fair Value of Senior Asset-Backed Securities to Adverse Changes in Key Assumptions (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 3,706,709	$ 3,452,648
Senior asset-backed securities related to Structured Program transactions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	3,092,410	2,899,824
100 basis point increase	(32,467)	(37,315)
200 basis point increase	$ (64,934)	$ (74,630)
Senior asset-backed securities related to Structured Program transactions \| Weighted-Average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expected remaining weighted-average life (in years)	1 year 1 month 6 days	1 year 2 months 12 days

Loans and Leases Held for Investment at Amortized Cost, Net of Allowance for Loan and Lease Losses - Schedule of Activity in the ACL by Portfolio Segment (Details) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2025 USD ($) loan	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Allowance for loan and lease losses:
Beginning of period	$ 236,734	$ 236,734	$ 310,387	$ 327,852
Credit loss expense (benefit)		190,928	175,430	243,570
Charge-offs		(218,874)	(303,593)	(281,107)
Recoveries		66,955	54,510	20,072
End of period		275,743	236,734	310,387
Reserve for unfunded lending commitments:
Beginning of period	105,000	105,000
End of period		98,200	105,000
Unfunded Loan Commitment
Reserve for unfunded lending commitments:
Beginning of period	1,183	1,183	1,873	1,878
Credit loss (benefit) expense		(174)	(690)	(5)
End of period		1,009	1,183	1,873
Unfunded Loan Commitment, Commitments to Extend Credit
Reserve for unfunded lending commitments:
Beginning of period			78,100
End of period		52,000		78,100
Consumer
Allowance for loan and lease losses:
Beginning of period	212,598	212,598	298,061	312,489
Credit loss expense (benefit)		190,031	160,581	244,518
Charge-offs		(209,742)	(299,159)	(278,105)
Recoveries		65,924	53,115	19,159
End of period		258,811	212,598	298,061
Consumer \| Unfunded Loan Commitment
Reserve for unfunded lending commitments:
Beginning of period	0	0	0	18
Credit loss (benefit) expense		0	0	(18)
End of period		0	0	0
Commercial
Allowance for loan and lease losses:
Beginning of period	24,136	24,136	12,326	15,363
Credit loss expense (benefit)		897	14,849	(948)
Charge-offs		(9,132)	(4,434)	(3,002)
Recoveries		1,031	1,395	913
End of period		16,932	24,136	12,326
Commercial \| Office Building
Allowance for loan and lease losses:
Charge-offs	$ (8,000)
Reserve for unfunded lending commitments:
Number of loans written off \| loan	1
Commercial \| Unfunded Loan Commitment
Reserve for unfunded lending commitments:
Beginning of period	$ 1,183	1,183	1,873	1,860
Credit loss (benefit) expense		(174)	(690)	13
End of period		$ 1,009	$ 1,183	$ 1,873

Derivative Instruments and Hedging Activities (Tables)

12 Months Ended

Dec. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Notional and Gross Fair Value Amounts of Derivatives Not Designated

The table below presents the notional and gross fair value amounts of the Company’s derivatives that are not designated as accounting hedges:


	December 31, 2025						December 31, 2024
	Notional		Derivative Asset (1)		Derivative Liability (1)		Notional		Derivative Asset (1)		Derivative Liability (1)
Credit derivatives	$	3,737	$	—	$	(1,327)	$	12,484	$	—	$	(10,930)

Interest rate contracts:
Interest rate caps	325,000		528		—		200,000		72		—
Interest rate swaps	125,000		—		(234)		—		—		—
Total interest rate contracts	450,000		528		(234)		200,000		72		—

Total	$	453,737	$	528	$	(1,561)	$	212,484	$	72	$	(10,930)

(1) Recorded in “Other assets” or “Other liabilities,” as applicable, on the Balance Sheet and in “Operating activities” on the Statement of Cash Flows.

Schedule of Gains (Losses) on Derivatives and Fair Value Hedges

The table below presents the gains (losses) recognized on the Company’s derivatives that are not designated as accounting hedges:


Year Ended December 31,	2025		2024		2023
Credit derivatives (1)	$	3,528	$	(4,558)	$	(6,372)
Interest rate contracts (2)	(474)		(394)		—
Total gains (losses)	$	3,054	$	(4,952)	$	(6,372)

(1) The initial fair value of the credit derivative liabilities is recorded in “Gain on sales of loans” with incremental changes in the fair value recorded in “Net fair value adjustments,” both within “Marketplace revenue” on the Income Statement.

(2) Recorded in “Net fair value adjustments” within “Marketplace revenue” on the Income Statement.

The following table summarizes the gains (losses) recognized on the Company’s fair value hedges:


Year Ended December 31,	2025		2024		2023
Unsecured personal loans:
Hedged item	$	(275)	$	(7,009)	$	8,881
Derivatives	168		6,894		(8,547)
Interest settlement on derivative (1)	(8)		4,539		2,514
Total (losses) gains on hedged unsecured personal loans (2)	(115)		4,424		$	2,848

Securities available for sale:
Hedged item	2,924		(2,197)		—
Derivatives	(3,010)		2,382		—
Interest settlement on derivative (1)	2,378		806		—
Total gains on hedged securities available for sale (3)	2,292		991		—

Total gains on fair value hedges	$	2,177	$	5,415	$	2,848

(1) Includes accrued interest receivable and accrued interest payable.

(2) Recorded in “Interest and fees on loans and leases held for investment” on the Income Statement.

(3) Recorded in “Interest on securities available for sale” on the Income Statement.

Schedule of Notional and Gross Fair Value Amounts of Derivatives Used for Hedging

The table below presents the notional and gross fair value amounts of the Company’s interest rate swaps that are designated as fair value hedges:


	December 31, 2025						December 31, 2024
	Notional		Derivative Asset (1)		Derivative Liability (1)		Notional		Derivative Asset (1)		Derivative Liability (1)
Unsecured personal loans	$	575,000	$	81	$	(1,566)	$	1,075,000	$	1,323	$	(2,976)
Securities available for sale	475,000		146		(774)		225,000		2,382		—
Total interest rate swaps	$	1,050,000	$	227	$	(2,340)	$	1,300,000	$	3,705	$	(2,976)

(1) Recorded in “Other assets” or “Other liabilities,” as applicable, on the Balance Sheet and in “Operating activities” on the Statement of Cash Flows.

Schedule of Cumulative Basis Adjustments for Fair Value Hedges

The following table presents the cumulative basis adjustments for fair value hedges:


	December 31, 2025				December 31, 2024
Balance Sheet Line Item	Carrying Amount of Closed Portfolio (1)		Cumulative Fair Value Adjustment Included in the Carrying Amount of the Hedged Items		Carrying Amount of Closed Portfolio (1)		Cumulative Fair Value Adjustment Included in the Carrying Amount of the Hedged Items
Loans and leases held for investment	$	1,283,622	$	1,597	$	1,388,222	$	1,872
Securities available for sale	$	1,091,921	$	727	$	2,255,848	$	(2,197)

(1) Represents the total closed portfolio of assets (at amortized cost) designated in a portfolio method hedge relationship in which the hedged item is a stated layer that is expected to be remaining at the end of the hedging relationship. At December 31, 2025, the amortized cost of unsecured personal loans and AFS securities, designated as the hedged items in the portfolio layer hedging relationship, was $575.0 million and $475.0 million, respectively. At December 31, 2024, the amortized cost of unsecured personal loans and AFS securities, designated as the hedged items in the portfolio layer hedging relationship, was $1.075 billion and $225.0 million, respectively.

LendingClub Corporation – Parent Company-Only Financial Statements - Statements of Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net income	$ 135,677	$ 51,330	$ 38,939
Adjustments to reconcile net income to net cash (used for) provided by operating activities:
Net fair value adjustments	134,946	154,659	134,114
Change in fair value of loan servicing assets	59,457	75,359	62,581
Stock-based compensation, net	34,286	40,069	52,389
Other, net	9,995	10,754	(8,932)
Net change to loans held for sale	(3,267,348)	(3,101,778)	(1,535,037)
Net change in operating assets and liabilities:
Other assets	33,593	22,422	54,894
Other liabilities	(307)	(6,458)	(87,746)
Net cash used for operating activities	(2,726,940)	(2,634,174)	(1,136,600)
Cash flows from investing activities:
Net change in loans held for investment	320,535	(223,857)	544,821
Purchases of securities available for sale	(30,452)	(49,786)	(61,648)
Proceeds from maturities and paydowns of securities available for sale	1,786,765	938,409	97,709
Other investing activities	(4,348)	(2,651)	(4,676)
Net cash provided by investing activities	1,932,159	607,813	516,697
Cash flows from financing activities:
Principal payments on borrowings	0	(19,202)	(111,993)
Other financing activities	(22,093)	(13,668)	(19,833)
Net cash provided by financing activities	747,822	1,709,609	789,567
Net increase (decrease) in cash, cash equivalents and restricted cash	(46,959)	(316,752)	169,664
Cash, cash equivalents and restricted cash, beginning of period	977,396	1,294,148	1,124,484
Cash, cash equivalents and restricted cash, end of period	930,437	977,396	1,294,148
Cash, cash equivalents and restricted cash
Cash and cash equivalents	917,654	954,058
Restricted cash	12,783	23,338
Total cash, cash equivalents and restricted cash	930,437	977,396	1,294,148
LendingClub Corporation
Cash flows from operating activities:
Net income	135,677	51,330	38,939
Adjustments to reconcile net income to net cash (used for) provided by operating activities:
Equity in undistributed earnings of subsidiary	(131,650)	(47,677)	(34,581)
Net fair value adjustments	(4,526)	(2,716)	(2,903)
Change in fair value of loan servicing assets	31,024	40,590	50,281
Stock-based compensation, net	4,230	4,505	5,253
Depreciation and amortization	4,612	8,525	16,979
Other, net	4	5	274
Net change to loans held for sale	0	1,121	5,953
Net change in operating assets and liabilities:
Other assets	(43,322)	(57,859)	(32,805)
Other liabilities	(24,487)	(26,349)	(30,741)
Net cash used for operating activities	(28,438)	(28,525)	16,649
Cash flows from investing activities:
Proceeds from (payments for) investments in and advances to subsidiary	50,000	(50,000)	0
Purchase of servicing asset investment	0	(47,450)	(50,576)
Proceeds from servicing asset investment	54,278	72,718	72,343
Net change in loans held for investment	6,482	16,081	52,611
Purchases of securities available for sale	(10,000)	0	0
Proceeds from maturities and paydowns of securities available for sale	0	264	7,861
Other investing activities	0	0	200
Net cash provided by investing activities	100,760	(8,387)	82,439
Cash flows from financing activities:
Principal payments on borrowings	0	(12,804)	(54,237)
Other financing activities	(22,093)	(13,668)	(19,834)
Net cash provided by financing activities	(22,093)	(26,472)	(74,071)
Net increase (decrease) in cash, cash equivalents and restricted cash	50,229	(63,384)	25,017
Cash, cash equivalents and restricted cash, beginning of period	93,517	156,901	131,884
Cash, cash equivalents and restricted cash, end of period	143,746	93,517	156,901
Cash, cash equivalents and restricted cash
Cash and cash equivalents	127,087	65,981
Restricted cash	16,659	27,536
Total cash, cash equivalents and restricted cash	$ 143,746	$ 93,517	$ 156,901

Income Taxes - Schedule of Components of Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Current:
Federal	$ 1,854	$ 316	$ 3,180
State	1,972	2,551	(5,060)
Total current tax expense (benefit)	3,826	2,867	(1,880)
Deferred:
Federal	27,486	10,997	11,427
State	9,957	(128)	6,131
Total deferred expense	37,443	10,869	17,558
Income tax expense	$ 41,269	$ 13,736	$ 15,678

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-4

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-21

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 220
-SubTopic 40
-Name Accounting Standards Codification
-Section 55
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147476153/220-40-55-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (ee)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-9

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.7)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483443/250-10-50-8

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-10

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(9))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Subparagraph (a)
-SubTopic 20
-Topic 740
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482659/740-20-45-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h))
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Goodwill and Intangible Assets - Schedule of Expected Future Amortization Expense for Intangible Assets (Details) $ in Thousands	Dec. 31, 2025 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2026	$ 2,636
2027	1,943
2028	1,179
2029	729
2030	456
Thereafter	476
Net carrying value	$ 7,419

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Lessee, Lease, Description [Line Items]
Security deposit	$ 0.5
Letters of credit outstanding, amount	1.1
Net lease costs	$ 10.9	$ 10.5	$ 12.0
Lessor operating leases, extension term	5 years
Minimum
Lessee, Lease, Description [Line Items]
Lessee operating lease, lease term	2 years
Maximum
Lessee, Lease, Description [Line Items]
Lessee operating lease, lease term	3 years

Loans and Leases Held for Investment at Amortized Cost, Net of Allowance for Loan and Lease Losses - Schedule of Consumer Lending Credit Quality Indicators and Commercial Lending Credit Quality Indicators (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Term Loans and Leases by Origination Year
Total	$ 4,272,812	$ 4,125,818
Loans and leases held for investment
Term Loans and Leases by Origination Year
Portfolio layer method basis adjustment - increase (decrease)	1,597	1,872
Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method
Term Loans and Leases by Origination Year
Year 1	1,896,796	1,436,784
Year 2	805,532	889,342
Year 3	379,062	892,178
Year 4	362,541	212,663
Year 5	95,729	28,176
Prior	62,291	48,400
Total	3,601,951	3,507,543
Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method \| Unsecured personal
Term Loans and Leases by Origination Year
Year 1	1,761,554	1,357,478
Year 2	757,659	810,133
Year 3	335,672	787,948
Year 4	293,378	149,041
Year 5	41,570	0
Prior	0	0
Total	3,189,833	3,104,600
Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method \| Residential mortgages
Term Loans and Leases by Origination Year
Year 1	0	0
Year 2	0	0
Year 3	0	45,828
Year 4	40,931	52,679
Year 5	50,129	28,176
Prior	60,013	46,028
Total	151,073	172,711
Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method \| Secured consumer
Term Loans and Leases by Origination Year
Year 1	135,242	79,306
Year 2	47,873	79,209
Year 3	43,390	58,402
Year 4	28,232	10,943
Year 5	4,030	0
Prior	2,278	2,372
Total	261,045	230,232
Commercial
Term Loans and Leases by Origination Year
Year 1	117,723	51,794
Year 2	67,487	104,562
Year 3	90,371	184,584
Year 4	159,824	77,682
Year 5	73,459	52,771
Prior	160,400	145,010
Total	669,264	616,403
Commercial \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total	148,333	161,048
Commercial \| Equipment finance
Term Loans and Leases by Origination Year
Year 1	0	0
Year 2	0	1,519
Year 3	0	33,655
Year 4	24,566	13,314
Year 5	5,429	9,101
Prior	9,762	6,643
Total	39,757	64,232
Commercial \| Equipment finance \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total	0	0
Commercial \| Equipment finance \| Pass
Term Loans and Leases by Origination Year
Year 1	0	0
Year 2	0	1,519
Year 3	0	32,544
Year 4	21,283	7,790
Year 5	1,990	9,101
Prior	9,762	6,643
Total	33,035	57,597
Commercial \| Equipment finance \| Pass \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total	0	0
Commercial \| Equipment finance \| Special mention
Term Loans and Leases by Origination Year
Year 1	0	0
Year 2	0	0
Year 3	0	335
Year 4	2,587	602
Year 5	227	0
Prior	0	0
Total	2,814	937
Commercial \| Equipment finance \| Special mention \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total	0	0
Commercial \| Equipment finance \| Substandard
Term Loans and Leases by Origination Year
Year 1	0	0
Year 2	0	0
Year 3	0	776
Year 4	0	4,922
Year 5	3,212	0
Prior	0	0
Total	3,212	5,698
Commercial \| Equipment finance \| Substandard \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total	0	0
Commercial \| Equipment finance \| Doubtful
Term Loans and Leases by Origination Year
Year 1	0	0
Year 2	0	0
Year 3	0	0
Year 4	696	0
Year 5	0	0
Prior	0	0
Total	696	0
Commercial \| Equipment finance \| Doubtful \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total	0	0
Commercial \| Equipment finance \| Loss
Term Loans and Leases by Origination Year
Year 1	0	0
Year 2	0	0
Year 3	0	0
Year 4	0	0
Year 5	0	0
Prior	0	0
Total	0	0
Commercial \| Equipment finance \| Loss \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total	0	0
Commercial \| Commercial real estate
Term Loans and Leases by Origination Year
Year 1	95,736	22,847
Year 2	36,356	67,692
Year 3	63,750	93,454
Year 4	96,320	29,886
Year 5	41,156	36,186
Prior	139,171	123,720
Total	472,489	373,785
Commercial \| Commercial real estate \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total	39,507	41,982
Commercial \| Commercial real estate \| Pass
Term Loans and Leases by Origination Year
Year 1	95,736	22,847
Year 2	36,356	67,692
Year 3	63,750	89,903
Year 4	94,771	21,174
Year 5	32,452	27,947
Prior	121,231	106,060
Total	444,296	335,623
Commercial \| Commercial real estate \| Pass \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total	30,959	31,499
Commercial \| Commercial real estate \| Special mention
Term Loans and Leases by Origination Year
Year 1	0	0
Year 2	0	0
Year 3	0	0
Year 4	0	0
Year 5	0	252
Prior	6,088	6,276
Total	6,088	6,528
Commercial \| Commercial real estate \| Special mention \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total	0	0
Commercial \| Commercial real estate \| Substandard
Term Loans and Leases by Origination Year
Year 1	0	0
Year 2	0	0
Year 3	0	2,430
Year 4	428	8,441
Year 5	8,433	7,987
Prior	11,370	10,791
Total	20,231	29,649
Commercial \| Commercial real estate \| Substandard \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total	7,005	8,940
Commercial \| Commercial real estate \| Doubtful
Term Loans and Leases by Origination Year
Year 1	0	0
Year 2	0	0
Year 3	0	0
Year 4	0	0
Year 5	0	0
Prior	61	0
Total	61	0
Commercial \| Commercial real estate \| Doubtful \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total	0	0
Commercial \| Commercial real estate \| Loss
Term Loans and Leases by Origination Year
Year 1	0	0
Year 2	0	0
Year 3	0	1,121
Year 4	1,121	271
Year 5	271	0
Prior	421	593
Total	1,813	1,985
Commercial \| Commercial real estate \| Loss \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total	1,543	1,543
Commercial \| Commercial and industrial
Term Loans and Leases by Origination Year
Year 1	21,987	28,947
Year 2	31,131	35,351
Year 3	26,621	57,475
Year 4	38,938	34,482
Year 5	26,874	7,484
Prior	11,467	14,647
Total	157,018	178,386
Commercial \| Commercial and industrial \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total	108,826	119,066
Commercial \| Commercial and industrial \| Pass
Term Loans and Leases by Origination Year
Year 1	21,987	28,030
Year 2	28,942	29,186
Year 3	16,580	31,697
Year 4	18,108	27,474
Year 5	19,441	5,503
Prior	7,879	12,678
Total	112,937	134,568
Commercial \| Commercial and industrial \| Pass \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total	75,216	85,269
Commercial \| Commercial and industrial \| Special mention
Term Loans and Leases by Origination Year
Year 1	0	635
Year 2	0	0
Year 3	0	5,165
Year 4	8,535	2,652
Year 5	2,959	76
Prior	67	0
Total	11,561	8,528
Commercial \| Commercial and industrial \| Special mention \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total	9,264	7,065
Commercial \| Commercial and industrial \| Substandard
Term Loans and Leases by Origination Year
Year 1	0	0
Year 2	1,438	4,071
Year 3	8,275	13,110
Year 4	5,153	2,311
Year 5	3,126	1,399
Prior	3,010	1,670
Total	21,002	22,561
Commercial \| Commercial and industrial \| Substandard \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total	13,790	14,879
Commercial \| Commercial and industrial \| Doubtful
Term Loans and Leases by Origination Year
Year 1	0	0
Year 2	0	0
Year 3	0	3,279
Year 4	3,456	1,477
Year 5	1,348	506
Prior	511	285
Total	5,315	5,547
Commercial \| Commercial and industrial \| Doubtful \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total	4,353	4,671
Commercial \| Commercial and industrial \| Loss
Term Loans and Leases by Origination Year
Year 1	0	282
Year 2	751	2,094
Year 3	1,766	4,224
Year 4	3,686	568
Year 5	0	0
Prior	0	14
Total	6,203	7,182
Commercial \| Commercial and industrial \| Loss \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total	6,203	7,182
Current \| Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method \| Unsecured personal
Term Loans and Leases by Origination Year
Year 1	1,741,108	1,347,685
Year 2	740,483	787,936
Year 3	326,147	762,223
Year 4	283,513	142,546
Year 5	39,605	0
Prior	0	0
Total	3,130,856	3,040,390
Current \| Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method \| Residential mortgages
Term Loans and Leases by Origination Year
Year 1	0	0
Year 2	0	0
Year 3	0	45,828
Year 4	40,931	52,679
Year 5	50,129	28,176
Prior	59,039	45,789
Total	150,099	172,472
Current \| Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method \| Secured consumer
Term Loans and Leases by Origination Year
Year 1	134,255	79,161
Year 2	47,453	78,081
Year 3	42,332	56,766
Year 4	26,961	10,573
Year 5	3,769	0
Prior	2,278	2,372
Total	257,048	226,953
30-59 days past due \| Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method \| Unsecured personal
Term Loans and Leases by Origination Year
Year 1	9,084	4,981
Year 2	5,680	7,344
Year 3	3,533	8,952
Year 4	3,591	2,253
Year 5	603	0
Prior	0	0
Total	22,491	23,530
30-59 days past due \| Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method \| Residential mortgages
Term Loans and Leases by Origination Year
Year 1	0	0
Year 2	0	0
Year 3	0	0
Year 4	0	0
Year 5	0	0
Prior	0	151
Total	0	151
30-59 days past due \| Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method \| Secured consumer
Term Loans and Leases by Origination Year
Year 1	778	98
Year 2	261	824
Year 3	816	1,199
Year 4	941	221
Year 5	210	0
Prior	0	0
Total	3,006	2,342
30-59 days past due \| Commercial
Term Loans and Leases by Origination Year
Total	2,236	14,644
30-59 days past due \| Commercial \| Equipment finance
Term Loans and Leases by Origination Year
Total	696	67
30-59 days past due \| Commercial \| Commercial real estate
Term Loans and Leases by Origination Year
Total	0	8,320
30-59 days past due \| Commercial \| Commercial and industrial
Term Loans and Leases by Origination Year
Total	1,540	6,257
60-89 days past due \| Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method \| Unsecured personal
Term Loans and Leases by Origination Year
Year 1	6,500	2,448
Year 2	5,447	6,933
Year 3	2,887	7,920
Year 4	3,051	1,992
Year 5	665	0
Prior	0	0
Total	18,550	19,293
60-89 days past due \| Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method \| Residential mortgages
Term Loans and Leases by Origination Year
Year 1	0	0
Year 2	0	0
Year 3	0	0
Year 4	0	0
Year 5	0	0
Prior	888	88
Total	888	88
60-89 days past due \| Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method \| Secured consumer
Term Loans and Leases by Origination Year
Year 1	131	11
Year 2	128	147
Year 3	109	338
Year 4	177	104
Year 5	51	0
Prior	0	0
Total	596	600
60-89 days past due \| Commercial
Term Loans and Leases by Origination Year
Total	1,878	1,665
60-89 days past due \| Commercial \| Equipment finance
Term Loans and Leases by Origination Year
Total	0	0
60-89 days past due \| Commercial \| Commercial real estate
Term Loans and Leases by Origination Year
Total	0	483
60-89 days past due \| Commercial \| Commercial and industrial
Term Loans and Leases by Origination Year
Total	1,878	1,182
90 or more days past due \| Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method \| Unsecured personal
Term Loans and Leases by Origination Year
Year 1	4,862	2,364
Year 2	6,049	7,920
Year 3	3,105	8,853
Year 4	3,223	2,250
Year 5	697	0
Prior	0	0
Total	17,936	21,387
90 or more days past due \| Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method \| Residential mortgages
Term Loans and Leases by Origination Year
Year 1	0	0
Year 2	0	0
Year 3	0	0
Year 4	0	0
Year 5	0	0
Prior	86	0
Total	86	0
90 or more days past due \| Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method \| Secured consumer
Term Loans and Leases by Origination Year
Year 1	78	36
Year 2	31	157
Year 3	133	99
Year 4	153	45
Year 5	0	0
Prior	0	0
Total	395	337
90 or more days past due \| Commercial
Term Loans and Leases by Origination Year
Total	34,344	30,253
90 or more days past due \| Commercial \| Equipment finance
Term Loans and Leases by Origination Year
Total	3,088	4,551
90 or more days past due \| Commercial \| Commercial real estate
Term Loans and Leases by Origination Year
Total	11,182	9,731
90 or more days past due \| Commercial \| Commercial and industrial
Term Loans and Leases by Origination Year
Total	$ 20,074	$ 15,971

Equity - Schedule of RSU Activity and PBRSU Activity (Details)	12 Months Ended
	Dec. 31, 2025 $ / shares shares
RSUs
Number of Units
Unvested, beginning (in shares) \| shares	5,638,230
Granted (in shares) \| shares	2,874,448
Vested (in shares) \| shares	(3,442,613)
Forfeited/expired (in shares) \| shares	(791,378)
Unvested, ending (in shares) \| shares	4,278,687
Weighted- Average Grant Date Fair Value
Unvested, beginning (in dollars per share) \| $ / shares	$ 8.78
Granted (in dollars per share) \| $ / shares	12.55
Vested (in dollars per share) \| $ / shares	9.26
Forfeited/expired (in dollars per share) \| $ / shares	9.80
Unvested, ending (in dollars per share) \| $ / shares	$ 10.73
PBRSUs
Number of Units
Unvested, beginning (in shares) \| shares	1,212,209
Granted (in shares) \| shares	325,472
Forfeited/expired (in shares) \| shares	(376,862)
Unvested, ending (in shares) \| shares	1,160,819
Weighted- Average Grant Date Fair Value
Unvested, beginning (in dollars per share) \| $ / shares	$ 8.68
Granted (in dollars per share) \| $ / shares	10.94
Forfeited/expired (in dollars per share) \| $ / shares	10.09
Unvested, ending (in dollars per share) \| $ / shares	$ 8.86

Securities Available for Sale

12 Months Ended

Dec. 31, 2025

Investments, Debt and Equity Securities [Abstract]

Securities Available for Sale

The amortized cost, gross unrealized gains and losses, and fair value of AFS securities were as follows:


December 31, 2025	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
Senior asset-backed securities related to Structured Program transactions (1)	$	3,065,885	$	26,525	$	—	$	—	$	3,092,410
U.S. agency residential mortgage-backed securities	267,853		504		(32,296)		—		236,061
Other asset-backed securities related to Structured Program transactions (2)	224,802		28		(1,367)		(4,093)		219,370
U.S. agency securities	84,464		—		(10,602)		—		73,862
Mortgage-backed securities	60,423		135		(4,961)		—		55,597
Municipal securities	3,215		—		(609)		—		2,606
Other securities	27,138		45		(380)		—		26,803
Total securities available for sale	$	3,733,780	$	27,237	$	(50,215)	$	(4,093)	$	3,706,709


December 31, 2024	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
Senior asset-backed securities related to Structured Program transactions (1)	$	2,870,071	$	30,398	$	(645)	$	—	$	2,899,824
U.S. agency residential mortgage-backed securities	270,120		48		(43,243)		—		226,925
Other asset-backed securities related to Structured Program transactions (2)	174,132		—		(657)		(3,527)		169,948
U.S. agency securities	90,459		—		(14,513)		—		75,946
Mortgage-backed securities	62,882		8		(6,216)		—		56,674

Municipal securities	3,236		—		(697)		—		2,539
Other securities	21,364		15		(587)		—		20,792
Total securities available for sale	$	3,492,264	$	30,469	$	(66,558)	$	(3,527)	$	3,452,648

(1) Excludes a $0.7 million and $(2.2) million cumulative basis adjustment for securities designated in active fair value hedge relationships at December 31, 2025 and 2024, respectively. See “Note 8. Derivative Instruments and Hedging Activities” for additional information.

(2) As of December 31, 2025 and 2024, $200.0 million and $169.9 million, respectively, of the other asset-backed securities related to Structured Program transactions at fair value are subject to restrictions on transfer pursuant to the Company’s obligations as a “sponsor” under the U.S. Risk Retention Rules.

A summary of AFS securities with unrealized losses, aggregated by period of continuous unrealized loss, is as follows:


	Less than 12 months				12 months or longer				Total
December 31, 2025	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses

U.S. agency residential mortgage-backed securities	$	20,017	$	(266)	$	181,150	$	(32,030)	$	201,167	$	(32,296)
Other asset-backed securities related to Structured Program transactions	95,494		(1,034)		23,719		(333)		119,213		(1,367)
U.S. agency securities	—		—		73,862		(10,602)		73,862		(10,602)
Mortgage-backed securities	1,874		(5)		36,167		(4,956)		38,041		(4,961)
Municipal securities	—		—		2,606		(609)		2,606		(609)
Other securities	1,610		(10)		9,544		(370)		11,154		(380)

Total securities with unrealized losses	$	118,995	$	(1,315)	$	327,048	$	(48,900)	$	446,043	$	(50,215)

	Less than 12 months				12 months or longer				Total
December 31, 2024	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Senior asset-backed securities related to Structured Program transactions	$	334,564	$	(645)	$	—	$	—	$	334,564	$	(645)
U.S. agency residential mortgage-backed securities	34,168		(782)		185,405		(42,461)		219,573		(43,243)
Other asset-backed securities related to Structured Program transactions	72,251		(657)		—		—		72,251		(657)
U.S. agency securities	—		—		75,946		(14,513)		75,946		(14,513)
Mortgage-backed securities	21,970		(316)		32,298		(5,900)		54,268		(6,216)
Municipal securities	—		—		2,539		(697)		2,539		(697)
Other securities	1,638		(4)		11,668		(583)		13,306		(587)
Total securities with unrealized losses	$	464,591	$	(2,404)	$	307,856	$	(64,154)	$	772,447	$	(66,558)

The majority of securities in an unrealized loss position as of both December 31, 2025 and 2024 was comprised of U.S. agency-backed securities and mortgage-backed securities. Management considers these securities to be of the highest credit quality and rating given the guarantee of principal and interest by certain U.S. government agencies or government-sponsored agencies. Most of the remaining securities in an unrealized loss position in the Company’s AFS investment portfolio at December 31, 2025 were rated investment grade. Substantially all of these unrealized losses were caused by interest rate increases. Additionally, the Company does not intend to sell the securities in loss positions, nor is it more likely than not that it will be required to sell the securities prior to recovery of the amortized cost basis. For a description of management’s quarterly evaluation of AFS securities in an unrealized loss position, see “Note 1. Summary of Significant Accounting Policies.”

The following table presents the activity in the allowance for credit losses for AFS securities, by security type:


Year Ended December 31,	2025		2024
Other asset-backed securities related to Structured Program transactions:
Allowance for credit losses, beginning of period	$	3,527	$	—
Credit loss expense for securities available for sale	566		3,527
Allowance for credit losses, end of period	$	4,093	$	3,527

There was no activity in the allowance for credit losses for AFS securities during 2023.

The contractual maturities of AFS securities were as follows:


December 31, 2025	Amortized Cost		Fair Value		Weighted- average Yield (1)





Due after 1 year through 5 years:
Senior asset-backed securities related to Structured Program transactions	$	3,065,885	$	3,092,410
Other asset-backed securities related to Structured Program transactions	224,802		219,370
U.S. agency securities	4,849		4,787
Mortgage-backed securities	2,552		2,403
Municipal securities	458		429
U.S. agency residential mortgage-backed securities	127		121
Other securities	10,136		10,137
Total due after 1 year through 5 years	3,308,809		3,329,657		6.66	%
Due after 5 years through 10 years:
U.S. agency securities	35,472		31,970
U.S. agency residential mortgage-backed securities	2,751		2,669
Mortgage-backed securities	880		779
Municipal securities	154		142
Other securities	9,666		9,674
Total due after 5 years through 10 years	48,923		45,234		3.62	%
Due after 10 years:
U.S. agency residential mortgage-backed securities	264,975		233,271
Mortgage-backed securities	56,991		52,415
U.S. agency securities	44,143		37,105
Municipal securities	2,603		2,035
Other securities	7,336		6,992
Total due after 10 years	376,048		331,818		3.09	%

Total securities available for sale	$	3,733,780	$	3,706,709	6.24	%

(1) The weighted-average yield is computed using the average month-end amortized cost during the year ended December 31, 2025.

During 2024, the Company recognized proceeds of $30.1 million and gross realized gains of $114 thousand from sales of senior asset-backed securities related to Structured Program transactions. There were no sales of AFS securities during 2025 or 2023.

Structured Program Transactions and Variable Interest Entities - Schedule of VIE Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Assets
Total securities available for sale	$ 3,706,709	$ 3,452,648
Other assets	368,086	403,982
Total assets	11,567,816	10,630,509
Liabilities
Other liabilities	233,518	220,541
Total liabilities	10,067,388	9,288,778
Unconsolidated
Assets
Total securities available for sale	3,311,780	3,069,771
Other assets	53,660	46,269
Total assets	3,365,440	3,116,040
Liabilities
Other liabilities	1,023	6,313
Total liabilities	1,023	6,313
Total net assets (maximum loss exposure)	$ 3,364,417	$ 3,109,727

- Definition

Amount of asset recognized for present right to economic benefit.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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-Name Accounting Standards Codification
-Section S99
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+ Details

- Definition

Amount of liability recognized for present obligation requiring transfer or otherwise providing economic benefit to others.

+ References

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+ Details

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+ Details

Fair Value Measurements

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Fair Value Measurements

For a description of the fair value hierarchy and the Company’s fair value methodologies, see “Note 1. Summary of Significant Accounting Policies.” The Company records certain assets and liabilities at fair value as listed in the following tables.

Recurring Fair Value Measurements

The following tables present, by level within the fair value hierarchy, the Company’s assets and liabilities measured at fair value on a recurring basis:


December 31, 2025	Level 1		Level 2		Level 3		Balance at Fair Value
Assets:
Loans held for sale at fair value	$	—	$	—	$	1,762,396	$	1,762,396
Loans held for investment at fair value	—		—		473,314		473,314
Securities available for sale:
Senior asset-backed securities related to Structured Program transactions	—		—		3,092,410		3,092,410
U.S. agency residential mortgage-backed securities	—		236,061		—		236,061
Other asset-backed securities related to Structured Program transactions	—		—		219,370		219,370
U.S. agency securities	—		73,862		—		73,862
Mortgage-backed securities	—		55,597		—		55,597
Municipal securities	—		2,606		—		2,606
Other securities	—		16,720		10,083		26,803

Total securities available for sale	—		384,846		3,321,863		3,706,709
Servicing assets	—		—		65,167		65,167
Other assets	—		2,099		—		2,099
Total assets	$	—	$	386,945	$	5,622,740	$	6,009,685

Liabilities:

Other liabilities	$	—	$	3,918	$	1,865	$	5,783
Total liabilities	$	—	$	3,918	$	1,865	$	5,783


December 31, 2024	Level 1		Level 2		Level 3		Balance at Fair Value
Assets:
Loans held for sale at fair value	$	—	$	—	$	636,352	$	636,352
Loans held for investment at fair value	—		—		1,027,798		1,027,798
Securities available for sale:
Senior asset-backed securities related to Structured Program transactions	—		—		2,899,824		2,899,824
U.S. agency residential mortgage-backed securities	—		226,925		—		226,925
Other asset-backed securities related to Structured Program transactions	—		—		169,948		169,948
U.S. agency securities	—		75,946		—		75,946
Mortgage-backed securities	—		56,674		—		56,674
Municipal securities	—		2,539		—		2,539
Other securities	—		20,792		—		20,792
Total securities available for sale	—		382,876		3,069,772		3,452,648
Servicing assets	—		—		60,697		60,697
Other assets	—		5,820		—		5,820
Total assets	$	—	$	388,696	$	4,794,619	$	5,183,315

Liabilities:

Other liabilities	$	—	$	5,019	$	11,799	$	16,818
Total liabilities	$	—	$	5,019	$	11,799	$	16,818

Financial instruments are categorized in the valuation hierarchy based on the significance of observable or unobservable factors in the overall fair value measurement. For the financial instruments listed in the tables above that do not trade in an active market with readily observable prices, the Company uses significant unobservable inputs to measure the fair value of these assets and liabilities. The Company primarily uses a DCF model to estimate the fair value of Level 3 instruments based on the present value of estimated future cash flows. This model uses inputs that inherently require judgment and reflect the Company’s best estimates of the assumptions a market participant would use to calculate fair value. The Company did not transfer any assets or liabilities in or out of Level 3 during the years ended December 31, 2025 or 2024.

The following significant unobservable inputs, as applicable, were used in the fair value measurement of the Company’s Level 3 assets:

•Discount rate – The weighted-average rate at which the expected cash flows are discounted to arrive at the net present value of the loan. The discount rate is primarily determined based on marketplace investor return expectations.

•Annualized net credit loss rate – The annualized rate of lifetime charge-offs, net of recoveries, expressed as a percentage of the average lifetime principal balance of loan pools with similar risk characteristics.

•Annualized prepayment rate – The annualized rate of lifetime prepayments expressed as a percentage of the average lifetime principal balance of loan pools with similar risk characteristics.

An increase in each of the inputs above, in isolation, would result in a decrease in the fair value measurement.

The sensitivity calculations are hypothetical and should not be considered to be predictive of future performance. The effect on fair value of a variation in assumptions generally cannot be determined because the relationship of the

change in assumptions to the fair value may not be linear. Changes in one factor may lead to changes in other factors, which could impact the hypothetical results.

Loans Held for Sale at Fair Value

Significant Unobservable Inputs

The following significant unobservable inputs were used in the fair value measurement of HFS loans:



	December 31, 2025						December 31, 2024
	Minimum		Maximum		Weighted-Average (1)		Minimum		Maximum		Weighted-Average (1)
Discount rate	6.6	%	9.0	%	7.1	%	7.1	%	11.9	%	7.9	%
Annualized net credit loss rate	3.3	%	16.0	%	6.3	%	1.8	%	21.2	%	5.4	%
Annualized prepayment rate	20.5	%	26.0	%	25.5	%	15.0	%	27.6	%	20.4	%

(1) The weighted-average rate is calculated using the principal balance of each loan pool with similar risk characteristics.

Fair Value Sensitivity

The sensitivity of HFS loans at fair value to adverse changes in key assumptions was as follows:


	December 31, 2025		December 31, 2024
Loans held for sale at fair value	$	1,762,396	$	636,352
Expected remaining weighted-average life (in years)	1.4		1.4
Discount rate:
100 basis point increase	$	(21,458)	$	(7,663)
200 basis point increase	$	(42,471)	$	(15,174)
Annualized net credit loss rate:
10% increase	$	(20,970)	$	(6,436)
20% increase	$	(41,766)	$	(12,937)
Annualized prepayment rate:
10% increase	$	(5,703)	$	(1,274)
20% increase	$	(10,546)	$	(2,444)

Fair Value Reconciliation

The following table presents HFS loans at fair value activity:


Year Ended December 31,	2025		2024
Fair value at beginning of period	$	636,352	$	407,773
Originations and purchases	6,962,944		5,194,160
Sales	(5,272,927)		(4,576,779)
Principal payments	(420,262)		(231,624)

Realized charge-offs, net of recoveries, recorded in earnings	(26,993)		(20,336)
Fair value adjustments recorded in earnings	(116,718)		(136,842)
Fair value at end of period	$	1,762,396	$	636,352

The following table summarizes the aggregate fair value of the Company’s HFS loans, as well as the amount that was 90 days or more past due:


	December 31, 2025				December 31, 2024
	Total		90 or more days past due		Total		90 or more days past due
Aggregate unpaid principal balance	$	1,795,818	$	3,931	$	657,984	$	3,719
Cumulative fair value adjustments	(33,422)		(3,176)		(21,632)		(3,012)
Fair value of loans held for sale	$	1,762,396	$	755	$	636,352	$	707

Loans Held for Investment at Fair Value

As of December 31, 2025, the Company’s HFI loans at fair value consisted primarily of purchased loan portfolios comprised of loans that the Company previously originated and sold. Due to the short remaining duration of the acquired loan portfolios, the Company has elected to account for them under the fair value option.

Significant Unobservable Inputs

The following significant unobservable inputs were used in the fair value measurement of HFI loans (1):



	December 31, 2025						December 31, 2024
	Minimum		Maximum		Weighted-Average (2)		Minimum		Maximum		Weighted-Average (2)
Discount rate	6.5	%	8.5	%	7.0	%	7.2	%	21.8	%	10.5	%
Annualized net credit loss rate	4.1	%	19.1	%	7.4	%	3.0	%	20.2	%	6.6	%
Annualized prepayment rate	19.6	%	21.1	%	20.0	%	15.6	%	21.4	%	19.3	%

(1) The change in significant unobservable inputs from December 31, 2024 to December 31, 2025 was primarily driven by loan composition changes due to a loan portfolio purchase in the fourth quarter of 2025, along with a significant reduction in loan balances related to previous portfolio purchases with lower purchase prices which resulted in a higher discount rate.

(2) The weighted-average rate is calculated using the principal balance of each loan pool with similar risk characteristics.

Fair Value Sensitivity

The sensitivity of HFI loans at fair value to adverse changes in key assumptions was as follows:


	December 31, 2025		December 31, 2024
Loans held for investment at fair value	$	473,314	$	1,027,798
Expected remaining weighted-average life (in years)	0.7		0.9
Discount rate:
100 basis point increase	$	(2,832)	$	(7,832)
200 basis point increase	$	(5,633)	$	(15,557)
Annualized net credit loss rate:
10% increase	$	(5,738)	$	(11,821)
20% increase	$	(13,161)	$	(25,428)
Annualized prepayment rate:
10% increase	$	(2,490)	$	(4,813)
20% increase	$	(4,979)	$	(9,854)

Fair Value Reconciliation

The following table presents HFI loans at fair value activity:


Year Ended December 31,	2025		2024
Fair value at beginning of period	$	1,027,798	$	262,190
Purchases	138,055		1,396,223
Principal payments	(683,231)		(618,472)

Interest income accretion and fair value adjustments recorded in earnings	(9,308)		(12,143)
Fair value at end of period	$	473,314	$	1,027,798

The following table summarizes the aggregate fair value of the Company’s HFI loans at fair value, as well as the amount that was 90 days or more past due:


	December 31, 2025				December 31, 2024
	Total		90 or more days past due		Total		90 or more days past due
Aggregate unpaid principal balance	$	495,649	$	5,177	$	1,097,511	$	14,616
Cumulative fair value adjustments	(22,335)		(4,183)		(69,713)		(11,836)
Fair value of loans held for investment	$	473,314	$	994	$	1,027,798	$	2,780

Asset-Backed Securities Related to Structured Program Transactions

Senior Asset-Backed Securities Related to Structured Program Transactions

Significant Unobservable Inputs

The following significant unobservable input, which includes credit spreads, was used in the fair value measurement of senior asset-backed securities related to Structured Program transactions:


	December 31, 2025						December 31, 2024
	Minimum		Maximum		Weighted-Average		Minimum		Maximum		Weighted-Average
Discount rate	5.0	%	5.4	%	5.2	%	6.0	%	6.0	%	6.0	%

Fair Value Sensitivity

The sensitivity in the fair value of senior asset-backed securities related to Structured Program transactions to adverse changes in key assumptions was as follows:


	December 31, 2025		December 31, 2024
Fair value of interests held	$	3,092,410	$	2,899,824
Expected remaining weighted-average life (in years)	1.1		1.2
Discount rate:
100 basis point increase	$	(32,467)	$	(37,315)
200 basis point increase	$	(64,934)	$	(74,630)

Fair Value Reconciliation

The following table presents senior asset-backed securities related to Structured Program transactions activity:


Year Ended December 31,	2025		2024
Fair value at beginning of period	$	2,899,824	$	1,176,403
Additions	1,839,092		2,558,003
Sales	—		(30,114)

Cash received	(1,643,278)		(823,331)
Change in unrealized gain	(3,228)		18,863

Fair value at end of period	$	3,092,410	$	2,899,824

Other Asset-Backed Securities Related to Structured Program Transactions

Significant Unobservable Inputs

The following significant unobservable inputs were used in the fair value measurement of other asset-backed securities related to Structured Program transactions:


	December 31, 2025						December 31, 2024
	Minimum		Maximum		Weighted-Average (1)		Minimum		Maximum		Weighted-Average (1)
Discount rate	6.6	%	8.6	%	6.9	%	7.1	%	11.0	%	7.9	%
Annualized net credit loss rate	3.1	%	6.2	%	5.0	%	3.4	%	7.4	%	5.0	%
Annualized prepayment rate	22.8	%	27.4	%	25.8	%	18.7	%	20.9	%	20.5	%

(1) The weighted-average rate is calculated using the principal balance of each security.

Fair Value Sensitivity

The sensitivity in the fair value of other asset-backed securities related to Structured Program transactions to adverse changes in key assumptions was as follows:


	December 31, 2025		December 31, 2024

Fair value of interests held	$	219,370	$	169,948
Expected remaining weighted-average life (in years)	1.2		1.3
Discount rate:
100 basis point increase	$	(2,285)	$	(1,909)
200 basis point increase	$	(4,529)	$	(3,783)
Annualized net credit loss rate:
10% increase	$	(2,077)	$	(1,778)
20% increase	$	(4,112)	$	(3,567)
Annualized prepayment rate:
10% increase	$	(674)	$	(432)
20% increase	$	(1,227)	$	(835)

Fair Value Reconciliation

The following table presents other asset-backed securities related to Structured Program transactions activity:


Year Ended December 31,	2025		2024
Fair value at beginning of period	$	169,948	$	73,393
Additions	154,494		153,690

Cash received	(103,825)		(53,219)
Credit loss expense for securities available for sale	(566)		(3,217)
Change in unrealized loss	(681)		(699)

Fair value at end of period	$	219,370	$	169,948

Servicing Assets

Significant Unobservable Inputs

The following significant unobservable inputs were used in the fair value measurement for servicing assets related to loans sold to investors:



	December 31, 2025						December 31, 2024
	Minimum		Maximum		Weighted-Average (1)		Minimum		Maximum		Weighted-Average (1)
Discount rate	8.9	%	16.2	%	10.4	%	8.7	%	17.3	%	10.8	%
Annualized net credit loss rate	3.3	%	19.5	%	6.5	%	1.8	%	21.2	%	8.2	%
Annualized prepayment rate	19.9	%	25.9	%	24.6	%	14.8	%	27.5	%	20.0	%
Market servicing rate (2)	0.58	%	0.58	%	0.58	%	0.62	%	0.62	%	0.62	%

(1) The weighted-average rate is calculated using the principal balance of each loan pool with similar risk characteristics.

(2) The fees a willing market participant would require for the servicing of loans with similar characteristics as those in the Company’s serviced portfolio.

Fair Value Sensitivity

The sensitivity of the fair value of servicing assets to adverse changes in key assumptions was as follows:



	December 31, 2025		December 31, 2024
Fair value of servicing assets	$	65,167	$	60,697
Expected remaining weighted-average life (in years)	1.2		1.2
Discount rate:
100 basis point increase	$	(567)	$	(519)
200 basis point increase	$	(1,134)	$	(1,038)
Annualized net credit loss rate:
10% increase	$	(536)	$	(551)
20% increase	$	(1,071)	$	(1,102)
Annualized prepayment rate:
10% increase	$	(1,892)	$	(1,359)
20% increase	$	(3,785)	$	(2,718)

The Company’s selection of the most representative market servicing rates for servicing assets inherently require judgment. The Company reviews third-party servicing rates for its loans, loans in similar credit sectors, and market servicing benchmarking analyses provided by third-party valuation firms, when available. The table below shows the impact on the estimated fair value of servicing assets, calculated using different market servicing rate assumptions:



	December 31, 2025			December 31, 2024
Weighted-average market servicing rate assumptions	0.58		%		0.62		%
Change in fair value from:
Market servicing rate increase by 0.10%	$	(7,289)			$	(6,940)
Market servicing rate decrease by 0.10%	$	7,289			$	6,940

Fair Value Reconciliation

The following table presents servicing assets activity:


Year Ended December 31,	2025		2024
Fair value at beginning of period	$	60,697	$	77,680
Issuances (1)	63,927		58,396
Change in fair value, included in Marketplace Revenue	(59,457)		(75,359)
Other net changes	—		(20)
Fair value at end of period	$	65,167	$	60,697

(1) Represents the servicing assets recorded when the loans are sold. Included in “Gain on sales of loans” within “Marketplace revenue” on the Income Statement.

Financial Instruments Not Recorded at Fair Value

The following tables present the carrying amount and estimated fair values, by level within the fair value hierarchy, of the Company’s assets and liabilities that are not recorded at fair value on a recurring basis:


December 31, 2025	Carrying Amount		Level 1		Level 2		Level 3		Balance at Fair Value
Assets:
Loans and leases held for investment, net	$	3,997,069	$	—	$	—	$	4,251,852	$	4,251,852
Other assets	47,470		—		47,312		453		47,765
Total assets	$	4,044,539	$	—	$	47,312	$	4,252,305	$	4,299,617

Liabilities:
Deposits (1)	$	2,434,422	$	—	$	—	$	2,437,209	$	2,437,209



Other liabilities	40,931		—		11,926		29,005		40,931
Total liabilities	$	2,475,353	$	—	$	11,926	$	2,466,214	$	2,478,140


December 31, 2024	Carrying Amount		Level 1		Level 2		Level 3		Balance at Fair Value
Assets:

Loans and leases held for investment, net	$	3,889,084	$	—	$	—	$	4,051,497	$	4,051,497
Other assets	40,466		—		40,143		661		40,804
Total assets	$	3,929,550	$	—	$	40,143	$	4,052,158	$	4,092,301

Liabilities:
Deposits (1)	$	2,294,214	$	—	$	—	$	2,306,373	$	2,306,373



Other liabilities	44,801		—		22,833		21,968		44,801
Total liabilities	$	2,339,015	$	—	$	22,833	$	2,328,341	$	2,351,174

(1) Excludes deposit liabilities with no defined or contractual maturities.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Paragraph 2
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Basis of Presentation

LendingClub Corporation (LendingClub) was founded in 2006 and operates a leading nationally chartered digital marketplace bank that leverages data and technology to increase access to credit, reduce borrowing costs, and improve returns on savings for its members. LendingClub is registered as a bank holding company and operates the vast majority of its business through its wholly-owned subsidiary, LendingClub Bank, National Association (LC Bank).

All intercompany balances and transactions have been eliminated in consolidation. These consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) and, in the opinion of management, contain all adjustments, including normal recurring adjustments, necessary for the fair statement of the results and financial position for the periods presented. These accounting principles require management to make certain estimates and assumptions that affect the amounts in the accompanying financial statements. These estimates and assumptions are inherently subjective in nature and actual results may differ from these estimates and assumptions, and the differences could be material.

Significant Accounting Policies

Cash and Cash Equivalents

Cash and cash equivalents have original maturities of three months or less and include cash on hand, cash items in transit, and amounts due from or held with other depository institutions, primarily with the Board of Governors of the Federal Reserve System (FRB).

Restricted Cash

Restricted cash consists of cash items held with other depository institutions in which the ability to withdraw funds is restricted by contractual provisions. Such amounts primarily include cash collected from borrowers on loans and not yet distributed to investors.

Securities

Debt securities purchased and asset-backed securities retained from the sale of loans are classified as available for sale (AFS) securities. AFS securities represent investment securities with readily determinable fair values that the Company: (i) does not hold for trading purposes and (ii) does not have the positive intent and ability to hold to maturity. AFS securities are measured at fair value, with unrealized gains and losses reported in “Accumulated other comprehensive income (loss)” within the equity section of the Balance Sheet, net of any applicable income taxes.

Management evaluates whether debt AFS securities with unrealized losses are impaired on a quarterly basis. For any security that has declined in fair value below its amortized cost basis, the Company recognizes an impairment loss in current period earnings if management has the intent to sell the security or if it is more likely than not it will be required to sell the security before recovery of its amortized cost basis. The assessment of impairment also considers whether the decline in fair value below the security’s amortized cost basis is attributable to credit-related factors. If credit-related factors exist, credit-related impairment has occurred regardless of the Company’s intent to hold the security until it recovers. The credit-related portion of impairment is recognized as provision for credit loss expense in earnings with a corresponding valuation allowance for AFS securities on the Balance Sheet, to the extent the allowance does not reduce the value of the security below its fair value.

Equity securities that do not have readily determinable fair values are generally recorded at cost adjusted for impairment, if any. These securities include FRB stock and Federal Home Loan Bank (FHLB) stock and are reported as “Nonmarketable equity investments” in “Other assets” on the Balance Sheet.

Loans and Leases

The Company initially classifies loans and leases as either held for sale (HFS) or held for investment (HFI) based on management’s assessment of its intent and ability to hold the loans and leases for the foreseeable future or until maturity. Management’s intent and ability with respect to certain loans and leases may change from time to time and, therefore, loans and leases that are initially designated as HFS or HFI may be reclassified. In order to reclassify loans to HFS, management must have the intent to sell the loans and the ability to reasonably identify the specific loans to be sold.

Loans Held for Sale at Fair Value

Loans initially classified as HFS are reported at their fair value with the Company’s election of the fair value option. Origination fees and marketing costs for HFS loans are recognized in earnings at the time of loan origination and are not deferred. Revenue from HFS loans at fair value also includes gain on sales of loans (recognition of servicing asset), servicing fees received over the life of the sold loan, and net fair value adjustments, all of which are presented within “Marketplace revenue” on the Income Statement. The Company also earns interest income on HFS loans from the time of origination until the loans have been sold. As loans are held on the Balance Sheet, incremental fair value adjustments on the loans are recorded in “Net fair value adjustments” within “Marketplace revenue,” whereas the associated interest income, based on the loans’ contractual interest rate, is recorded within “Interest on loans held for sale.”

Loans and Leases Held for Investment at Amortized Cost

HFI loans accounted for at amortized cost are measured at historical cost and reported at their outstanding principal balances net of any charge-offs, unamortized deferred origination fees and marketing costs. Revenue from HFI loans at amortized cost consists of interest income, which includes the stated interest rate on the loans and the amortization of origination fees and marketing costs that are deferred at origination.

Leases are recorded at the discounted amounts of lease payments receivable plus the estimated residual value of the leased asset, net of unearned income and unamortized deferred origination fees and marketing costs. Lease payments receivable reflect contractual lease payments adjusted for renewal or termination options that the Company believes the customer is reasonably certain to exercise.

In certain circumstances, the Company may reclassify loans and/or leases from HFI to HFS, at which time these are valued at the lower of amortized cost or fair value.

Loans Held for Investment at Fair Value

As of the periods presented in this Annual Report, HFI loans at fair value consisted of certain non-routine loan portfolio purchases accounted under the fair value option on a transaction-specific basis, due to the short remaining duration of the acquired portfolios. Revenue from these loan portfolio purchases includes interest income and net fair value adjustments which are recorded in current period earnings.

Election of Fair Value Option

Effective January 1, 2026, the Company elected the fair value option to account for HFI loans that were originated on or after that date. Prior to this election, loans that were originated as HFI were, and the Company expects will continue to be, accounted for at amortized cost, which required the initial recognition of an allowance for lifetime expected credit losses under the CECL methodology, recognized within “Provision for credit losses” on the Income Statement. The Company believes that applying the fair value option, rather than the CECL methodology, to HFI loans more accurately reflects the in-period economic performance of the loans by better aligning the value of the loan to its then fair value. Under the fair value option, origination fee revenue and marketing costs are recognized at the time of loan origination within “Origination fees” and “Marketing expense,” respectively, on the Income Statement, rather than being deferred. Changes in the fair value of loans are recognized in current period earnings within “Net fair value adjustments” on the Income Statement. Further, by applying the fair value option to HFI loans, the Company is applying the same accounting methodology to all loans it originates after January 1, 2026, as both HFI and HFS loans will be measured at fair value.

Accrued Interest Income and Non-Accrual Policy

Interest income is accrued as earned. The accrual of interest income is discontinued, and the loan or lease is placed on nonaccrual status at 90 days past due or when reasonable doubt exists as to timely collection. Past due status is based on the contractual terms of the loan or lease. When a loan or lease is placed on nonaccrual status, all income previously accrued but not collected is reversed against the current period’s interest income. The Company has a nonaccrual policy which results in the timely reversal of past-due accrued interest and, therefore, does not record an allowance for credit losses (ACL) on accrued interest receivable. The Company records an ACL on accrued interest receivable for past due unsecured personal loans that are less than 90 days past due. Interest collections on nonaccrual loans and leases for which the ultimate collectability of principal is uncertain are applied as principal reductions; otherwise, such collections are credited to income when received. Nonaccrual loans and leases are returned to accrual status when there no longer exists concern over collectability, the borrower has demonstrated, over time, both the intent and ability to repay and the loan or lease has been brought current and future payments are reasonably assured.

Allowance for Credit Losses

The ACL represents management’s estimate of expected credit losses. The ACL primarily consists of the allowance for loan and lease losses (ALLL), as well as the allowance for AFS securities and unfunded lending commitments. The ACL is measured based on a lifetime expected loss model, which does not require a loss event to occur before a credit loss is recognized. Under the lifetime expected credit loss model, the Company estimates the allowance based on relevant available information related to past events, current conditions, and reasonable and supportable forecasts of future economic conditions. The ACL is estimated using a discounted cash flow (DCF) approach where effective interest rates are used to calculate the net present value of expected cash flows. The effective interest rate is calculated based on the periodic interest income received from the loan’s contractual cash flows and the net investment in the loan, which includes deferred origination fees and marketing costs, to provide a constant rate of return over the contractual loan term. The Company evaluates its estimate of expected credit losses each reporting period and records any additions or reductions to the ACL on the Income Statement as “Provision for credit losses.”

Amounts determined to be uncollectible are charged-off to the allowance. Estimates of expected credit losses include expected recoveries of amounts previously charged-off and amounts expected to be charged-off. If amounts previously charged off are subsequently expected to be collected, the Company may recognize a negative allowance, which is limited to the amount that was previously charged off.

Under applicable accounting guidance, for reporting purposes, the loan and lease portfolio is categorized by portfolio segment. A portfolio segment is defined as the level at which an entity develops and documents a

systematic methodology to determine the ACL. The Company’s two portfolio segments are consumer and commercial. The Company further disaggregates its portfolio segments into various classes of financing receivables based on their underlying risk characteristics. The classes within the consumer portfolio segment are unsecured consumer, secured consumer and residential mortgages. The classes within the commercial portfolio segment are commercial and industrial, commercial real estate, and equipment finance.

The ACL is measured on a collective basis when loans share similar risk characteristics. Relevant risk characteristics for the consumer portfolio include product type, risk rating, loan term, and monthly vintage. Relevant risk characteristics for the commercial portfolio include product type and risk rating. Loans measured on a collective basis generally have an ACL comprised of a quantitative, or modeled, component that is supplemented by a framework of qualitative factors, as discussed below.

The Company will continue to monitor its loan pools on an ongoing basis and adjust accordingly as the risk characteristics of the financial assets may change over time. If a given financial asset does not share similar risk characteristics with other financial assets, the Company shall measure expected credit losses on an individual, rather than on a collective basis. Loans evaluated on an individual basis generally have an ACL that is measured in reference to any collateral securing the loan and/or expected cash flows which are specific to the borrower.

Allowance Calculation Methodology

The Company generally estimates expected credit losses over the contractual term of its loans and certain securities. The contractual term is adjusted for estimated prepayments when appropriate. The quantitative, or modeled, component of the ACL is primarily based on statistical models that use known or estimated data as of the balance sheet date and forecasted data over the reasonable and supportable period. Known and estimated data include current probability and timing of default, loss rate and recovery exposure at default, timing and amount of estimated prepayments, timing and amount of expected draws (for unfunded lending commitments), and relevant risk characteristics. Certain of the Company’s commercial portfolios have limited internal historical loss data and use external credit loss information, including historical charge-off and balance data for peer banking institutions.

The Company obtains historical and forecast macroeconomic information to inform its view of the long-term condition of the economy. Forward-looking macroeconomic factors considered in the Company’s consumer model include unemployment rate, unemployment insurance claims, gross domestic product (GDP), housing prices, and retail sales. Forward-looking macroeconomic factors are incorporated into the Company’s commercial model for a two-year reasonable and supportable economic forecast period followed by a one-year reversion period during which expected credit losses are expected to revert back on a straight-line basis to historical losses unadjusted for economic conditions. The reasonable and supportable economic forecast period and reversion methodology are accounting estimates which may change in future periods as a result of changes to the current macroeconomic environment.

The quantitative, or modeled, portion of ACL is estimated using a DCF approach. The Company’s statistical models, applied at the portfolio level to pools of loans with similar risk characteristics, produce expected cash flows, which are then discounted at the effective interest rate to derive net present value. The effective interest rate is calculated based on the periodic interest income received from the loan’s contractual cash flows and the net investment in the loan, which includes deferred origination fees and marketing costs, to provide a constant rate of return over the contractual loan term. This net present value is then compared to the amortized cost basis to derive the initial expected credit losses. Under the DCF approach, the provision for credit losses includes credit loss expense in subsequent periods relating to the discounting effect due to the passage of time after the initial recognition of ACL.

The Company also considers the need for qualitative adjustments to the modeled estimate of expected credit losses. For this purpose, the Company established a qualitative factor framework to periodically assess qualitative

adjustments to address certain identified elements that are not directly captured by the statistically modeled expected credit loss. The Company also obtains forecast macroeconomic information to inform its view of the long-term condition of the economy. These factors may include the impact of the non-modeled macroeconomic outlook, forecast unemployment rate and insurance claims, risk rating downgrades, changes in credit policies, problem loan trends, identification of new risks not incorporated into the modeling framework, credit concentrations, changes in underwriting and other external factors.

Zero Credit Loss Expectation Exception

The Company has a zero loss expectation when the loans and AFS securities, or portions thereof, are issued or guaranteed by certain U.S. government entities or agencies, as those entities or agencies have a long history of no defaults and the highest credit ratings issued by rating agencies. Loans held for investment and AFS securities which meet this criterion do not have an ACL.

Reserve for Unfunded Lending Commitments

The ACL includes an estimate for expected credit losses on off-balance sheet commitments to extend credit and unused lines of credit. The Company estimates these expected credit losses for the unfunded portion of the commitments that are not unconditionally cancellable depending on the likelihood that funding will occur. The reserve for unfunded lending commitments is reported in “Other liabilities” on the Balance Sheet.

Individually Assessed Loans

Loans that do not share similar risk characteristics with other financial assets, including collateral-dependent loans, are individually assessed for purposes of measuring expected credit losses using the DCF approach.

For loans that are determined to be collateral dependent, the ACL is determined based on the fair value of the collateral. Loans are considered collateral dependent when the borrower is experiencing financial difficulty and repayment of the loan is expected to be substantially satisfied through sale or operation of the collateral. For such loans, the ACL is calculated as the difference between the amortized cost basis and the fair value of the underlying collateral less costs to sell, if applicable.

Charge-Offs

Charge-offs are recorded when the Company determines that a loan balance is uncollectible or a loss-confirming event has occurred. Loss confirming events usually involve the receipt of specific adverse information about the borrower and may include borrower delinquency status, bankruptcy, foreclosure, or receipt of an asset valuation indicating a shortfall between the value of the collateral and the book value of the loan when that collateral asset is the sole source of repayment. A full or partial charge-off reduces the amortized cost basis of the loan and the related ACL. Unsecured personal loans are generally charged-off when a borrower is contractually 120 days past due. Exceptions include accounts in bankruptcy or accounts of deceased borrowers which are then generally charged-off within 60 or 30 days from receipt of notification, respectively.

Servicing Assets

Servicing assets are capitalized as separate assets when loans are sold and servicing is retained. The Company records servicing assets at their estimated fair values. Servicing asset fair value is based on the excess of the contractual servicing fee over an estimated market servicing rate. When servicing assets are recognized from the sale of loans originated by the Company, the fair value of the servicing asset is included as a component of the gain or loss on the loan sale and reported within “Marketplace revenue” on the Income Statement. Subsequent changes in

fair value are reported within “Servicing fees” in “Marketplace revenue” during the period in which the changes occur. Servicing assets are reported in “Other assets” on the Balance Sheet.

Fair Value Measurements

Fair value is defined as the price that would be received to sell a financial asset or paid to transfer a financial liability in an orderly transaction between market participants at the measurement date. Fair value is based on an exit price notion that maximizes the use of observable inputs and minimizes the use of unobservable inputs. Certain of the Company’s assets and liabilities are recorded at fair value and measured on either a recurring or nonrecurring basis. Assets and liabilities that are recorded at fair value on a recurring basis require a fair value measurement at each reporting period.

The fair value hierarchy includes a three-level hierarchy that assigns the highest priority to unadjusted quoted prices in active markets and the lowest priority to unobservable inputs.


Level 1	—	Quoted market prices in active markets for identical assets or liabilities.

Level 2	—	Inputs other than quoted prices included in Level 1 that are observable for the asset or liability either directly or indirectly.

Level 3	—	Unobservable inputs.

Unobservable inputs require greater judgment in measuring fair value. In instances where there is limited or no observable market data, fair value measurements for assets and liabilities are based primarily upon the Company’s own estimates, and the measurements reflect information and assumptions that management believes a market participant would use in pricing the asset or liability.

Derivative Instruments and Hedging Activities

The Company reports the fair value of its derivative instruments on a gross basis, as either “Other assets” or “Other liabilities” on the Balance Sheet. Changes in fair value of the derivative instruments are recognized in “Net fair value adjustments” within “Marketplace revenue” on the Income Statement.

For derivative instruments that qualify as accounting hedges, the Company designates the hedging instrument based on the exposure being hedged. The Company’s existing hedging instruments are designated as fair value hedges under the portfolio layer method, whereby changes in the fair value of the hedging instrument are substantially offset by changes in the fair value of the hedged item, which are recognized within interest income on the Income Statement. Interest payments made and/or received related to these derivative instruments are presented within the “Operating activities” section on the Statements of Cash Flows.

To qualify for hedge accounting, the derivatives and related hedged items must be designated as a hedge at inception of the hedge relationship. In addition, a derivative must be highly effective at reducing the risk associated with the exposure being hedged. For accounting hedge relationships, the Company formally assesses, both at the inception of the hedge and on an ongoing basis, if the derivatives are highly effective in offsetting designated changes in the fair value of the hedged item. The Company assesses effectiveness using a statistical regression analysis. Effectiveness may be assessed qualitatively where the critical terms of the derivative and hedged item match.

Property, Equipment and Software, Net

Property, equipment and software are carried at cost less accumulated depreciation and amortization. The Company uses the straight-line method of depreciation and amortization. The office building acquired in April 2025 is

depreciated over its estimated useful life of 39 years, and the related building improvements are depreciated over their respective estimated useful lives. Tenant and leasehold improvements are amortized over the shorter of the lease term or the estimated useful life. Estimated useful lives range from three years to seven years for furniture and fixtures, computer equipment, and software.

Internally-developed software is capitalized when preliminary development efforts are successfully completed and it is probable that the project will be completed, and the software will be used as intended. Capitalized costs consist of salaries and compensation costs for employees, fees paid to third-party consultants who are directly involved in development efforts, and costs incurred for upgrades and enhancements to add functionality of the software. Other costs are expensed as incurred.

The Company evaluates impairments of its property, equipment and software whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. If the asset is not recoverable, measurement of an impairment loss is based on the fair value of the asset. When an impairment loss is recognized, the carrying amount of the asset is reduced to its estimated fair value.

Lessor Accounting – Operating Leases

The Company leases space in its office building to third-party tenants under operating lease agreements. The Company earns rental income from such leases which is recorded within “Other non-interest income” on the Income Statement. Rental income is comprised of (i) a lease component, which includes fixed lease payments, recognized on a straight-line basis over the non-cancelable lease term, and (ii) a nonlease component, which includes variable lease payments, such as operating expense reimbursements, recognized in the period incurred. The Company has elected the lessor practical expedient under Accounting Standards Codification (ASC) 842, Leases, to account for the lease component and nonlease component associated with each lease as a single component.

Goodwill and Other Intangible Assets

Goodwill is recorded when the purchase price of an acquired business exceeds the fair value of the net assets acquired. Goodwill is assigned to the Company’s reporting units at the acquisition date according to the expected economic benefits that the acquired business will provide to the reporting unit. A reporting unit is a business operating segment or a component of a business operating segment. The Company identifies its reporting units based on how the operating segments and reporting units are managed. Accordingly, the Company allocated goodwill to the LC Bank operating segment.

Goodwill is tested for impairment annually or more frequently in certain circumstances. The Company’s annual impairment testing is performed in the fourth quarter of each calendar year. Impairment exists when the carrying value of goodwill exceeds its estimated fair value. Adverse changes in impairment indicators such as lower than forecast financial performance, increased competition, increased regulatory oversight, or unplanned changes in operations could result in impairment.

The Company can elect to either qualitatively assess goodwill for impairment, or bypass the qualitative test and proceed directly to a quantitative test. If the Company performs a qualitative assessment of goodwill to test for impairment and concludes it is more likely than not that the estimated fair value of a reporting unit is greater than its carrying value, a quantitative test is not required. However, if the Company determines it is more likely than not that a reporting unit’s fair value is less than its carrying amount, a quantitative assessment is performed to determine if goodwill impairment exists. Under the quantitative impairment assessment, the fair values of the Company’s reporting units are determined using a combination of income and market-based approaches.

Other intangible assets with determinable lives are recorded at their fair value upon completion of a business acquisition or certain other transactions, and generally represent the value of customer contracts or relationships.

Such assets are amortized over their useful lives in a manner that best reflects their economic benefit, which may include straight-line or accelerated methods of amortization. Other intangible assets are reviewed for impairment quarterly and when events or changes in circumstances indicate that their carrying amount may not be recoverable. The Company does not have indefinite-lived intangible assets other than goodwill. Intangible assets are reported in “Other assets” on the Balance Sheet.

Loss Contingencies

Loss contingencies, including claims and legal actions arising in the ordinary course of business, are recorded as liabilities in “Other liabilities” on the Balance Sheet. Associated legal expense is recorded in “Other non-interest expense” on the Income Statement. Such liabilities and associated expenses are recorded when the likelihood of loss is probable and an amount or range of loss can be reasonably estimated. The Company will also disclose a range of exposure to incremental loss when such amounts can be estimated and are reasonably possible to occur in future periods. In estimating the Company’s exposure to loss contingencies, if an amount within the estimated range of loss is the best estimate, that amount will be accrued. However, if there is no amount within the estimated range of loss that is the best estimate, the Company will accrue the minimum amount within the range, and disclose the amount up to the high end of the range as an exposure to incremental loss, if such amount is considered reasonably possible. Such estimates are based on the best information available at the time. As additional information becomes available, the Company reassesses the potential liability and records an adjustment to its estimate in the period in which the adjustment is probable and an amount or range can be reasonably estimated. The determination of an expected contingent liability and associated litigation expense requires the Company to make assumptions related to the outcome of these matters. Due to the inherent uncertainties of loss contingencies, the Company’s estimates may be different than the actual outcomes. Legal fees, including legal fees associated with loss contingencies, are recognized as incurred and included in “Professional services” expense on the Income Statement.

Stock-based Compensation

Stock-based compensation includes expense primarily associated with restricted stock units (RSUs) and performance-based restricted stock units (PBRSUs). Stock-based compensation expense is based on the grant date fair value of the award. The cost is generally recognized over the vesting period on a straight-line basis. Forfeitures are recognized as incurred.

Share Repurchases

Shares repurchased in the open market are retired upon repurchase. Accordingly, the Company reduces common stock by the par value of the retired shares, with the excess of the repurchase price over par value recorded as a reduction to additional paid-in capital.

Income Taxes

The Company accounts for income taxes under the asset and liability method. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date.

The Company recognizes deferred tax assets to the extent that it believes these assets are more likely than not to be realized. In making such a determination, the Company considers the available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts that are more likely than not expected to be realized. If the Company determines that it is

able to realize its deferred tax assets in the future in excess of the net recorded amount, the Company decreases the deferred tax asset valuation allowance, which reduces the provision for income taxes.

Uncertain tax positions are recognized only when the Company believes it is more likely than not that the tax position will be upheld on examination by the taxing authorities based on the merits of the position. The Company recognizes interest and penalties, if any, related to uncertain tax positions in “Income tax (expense) benefit” on the Income Statement.

Earnings Per Share

Basic earnings per share (EPS) attributable to common stockholders is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income by the weighted-average number of common shares outstanding during the period, adjusted for the effects of dilutive issuances of shares of common stock, which predominantly include incremental shares issued for outstanding RSUs and PBRSUs. PBRSUs are included in dilutive shares to the extent the pre-established performance targets have been or are estimated to be satisfied as of the reporting date. The dilutive potential common shares are computed using the treasury stock method. The effects of the common shares outstanding are excluded from the computation of diluted EPS in periods in which the effect would be antidilutive.

Consolidation of Variable Interest Entities

A variable interest entity (VIE) is a legal entity that has either a total equity investment that is insufficient to finance its activities without additional subordinated financial support or whose equity investors lack the characteristics of a controlling financial interest. The Company’s variable interest arises from contractual, ownership or other monetary interests in the entity, which change with fluctuations in the fair value of the entity’s net assets. A VIE is consolidated by its primary beneficiary, the party that has both the power to direct the activities that most significantly impact the VIE’s economic performance, and the obligation to absorb losses or the right to receive benefits of the VIE that could potentially be significant to the VIE. The Company consolidates a VIE when it is deemed to be the primary beneficiary. The Company assesses whether or not it is the primary beneficiary of a VIE on an ongoing basis.

Transfers of Financial Assets

The Company accounts for transfers of financial assets as sales when it has surrendered control over the transferred assets. Control is generally considered to have been surrendered when the transferred assets have been legally isolated from the Company, the transferee has the right to pledge or exchange the assets without any significant constraints, and the Company has not entered into a repurchase agreement, does not hold unconditional call options and has not written put options on the transferred assets. In assessing whether control has been surrendered, the Company considers whether the transferee would be a consolidated affiliate and the impact of all arrangements or agreements made contemporaneously with, or in contemplation of the transfer, even if they were not entered into at the time of transfer. The Company measures gain or loss on sale of financial assets as the net proceeds received on the sale less the carrying amount of the loans sold. The net proceeds of the sale represent the fair value of any assets obtained or liabilities incurred as part of the transaction, including, but not limited to servicing assets, retained securities, and recourse obligations.

Transfers of financial assets that do not qualify for sale accounting would be reported as secured borrowings. Accordingly, the related assets would remain on the Company’s Balance Sheet and continue to be reported and accounted for as if the transfer had not occurred. Cash proceeds from these transfers are reported as liabilities, with related interest expense recognized over the life of the related assets.

Adoption of New Accounting Standards

The Company adopted the following new accounting standards during the year ended December 31, 2025:

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740) – Improvements to Income Tax Disclosures, which improves income tax disclosure requirements, primarily through enhanced disclosures surrounding rate reconciliation and income taxes paid. The Company adopted this ASU for the full year ended December 31, 2025, on a retrospective basis. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements.

New Accounting Standards Not Yet Adopted

In December 2025, the FASB issued ASU 2025-12, Codification Improvements, which makes incremental improvements to GAAP. The updates cover a broad range of topics arising from technical corrections, unintended applications of the codification, and other minor improvements. The new standard is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods within those annual reporting periods. The standard can be applied prospectively or retrospectively on a topic by topic basis. Early adoption is also permitted on a topic by topic basis. The Company is evaluating the impact of this ASU but does not expect it to be material.

In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 27) - Narrow-Scope Improvements, which improves the navigability of the required interim disclosures and clarify when the guidance is applicable. The amendments also provide guidance on what disclosures are required during the interim reporting periods. Additionally, the amendments also includes a disclosure principle that requires entities to disclose events since the end of the last reporting period that have a material impact. The amendments of this standard are effective for interim reporting periods beginning after December 15, 2027. The amendments can be applied either prospectively or retrospectively. Early adoption is also permitted. The Company is evaluating the impact of this ASU but does not expect it to be material.

In September 2025, the FASB issued ASU 2025-06, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software, which modernizes the guidance to reflect the software development approaches currently used. Specifically, the ASU eliminates accounting consideration of software project development stages and enhances the guidance around the “probable-to-complete” threshold. The new standard is effective for annual reporting periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. The amendments of this standard can be applied retrospectively, prospectively or on a modified prospective basis. Early adoption is also permitted. The Company is evaluating the impact of this ASU but does not expect it to be material.

In November 2024, the FASB issued ASU 2024-03, Income Statement (Topic 220) – Reporting Comprehensive Income – Expense Disaggregation Disclosures, which improves income statement expense disclosure requirements, primarily through disaggregated disclosures of certain expense captions into specified categories within the footnotes to the financial statements. The new standard is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods within annual reporting periods beginning after December 15, 2027. The amendments of this standard should be applied prospectively, with retrospective application permitted. Early adoption is also permitted. The Company is evaluating the impact of this ASU but does not expect it to be material.

Other Liabilities

12 Months Ended

Dec. 31, 2025

Other Liabilities [Abstract]

Other Liabilities

Other liabilities consist of the following:


December 31,	2025		2024
Accounts payable and accrued expenses	$	87,341	$	78,131
Due to borrowers (1)	60,254		24,449
Operating lease liabilities	15,826		28,502
Payable to investors (2)	11,926		22,833



Other	58,171		66,626


Total other liabilities	$	233,518	$	220,541

(1) Represents originated loans for which disbursement of funds is pending to borrowers.

(2) Represents principal and interest on loans collected by the Company and pending disbursement to investors.

Fair Value Measurements - Schedule of Significant Unobservable Inputs Used in the Fair Value Measurement of Other Asset-Backed Securities (Details) - Level 3 - Other asset-backed securities related to Structured Program transactions	Dec. 31, 2025	Dec. 31, 2024
Minimum \| Discount rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, debt securities available-for-sale	0.066	0.071
Minimum \| Annualized net credit loss rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, debt securities available-for-sale	0.031	0.034
Minimum \| Annualized prepayment rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, debt securities available-for-sale	0.228	0.187
Maximum \| Discount rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, debt securities available-for-sale	0.086	0.110
Maximum \| Annualized net credit loss rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, debt securities available-for-sale	0.062	0.074
Maximum \| Annualized prepayment rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, debt securities available-for-sale	0.274	0.209
Weighted-Average \| Discount rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, debt securities available-for-sale	0.069	0.079
Weighted-Average \| Annualized net credit loss rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, debt securities available-for-sale	0.050	0.050
Weighted-Average \| Annualized prepayment rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, debt securities available-for-sale	0.258	0.205

LendingClub Corporation – Parent Company-Only Financial Statements - Statements of Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Condensed Financial Statements, Captions [Line Items]
Net income	$ 135,677	$ 51,330	$ 38,939
Other comprehensive income, net of tax:
Other comprehensive income, net of tax	6,083	6,061	7,312
Total comprehensive income	141,760	57,391	46,251
LendingClub Corporation
Condensed Financial Statements, Captions [Line Items]
Net income	135,677	51,330	38,939
Other comprehensive income, net of tax:
Net unrealized (loss) gain on securities available for sale	(553)	(3,076)	6,706
Equity in other comprehensive income (loss) of subsidiary	6,636	9,137	(1,282)
Other comprehensive income, net of tax	6,083	6,061	5,424
Total comprehensive income	$ 141,760	$ 57,391	$ 44,363

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Equity - Schedule of Stock-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, gross	$ 39,079	$ 47,117	$ 61,619
Less: Capitalized stock-based compensation expense	4,793	7,048	9,230
Stock-based compensation expense, net	34,286	40,069	52,389
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, gross	34,730	43,841	57,213
PBRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, gross	$ 4,349	$ 3,276	$ 4,406

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Income Taxes - Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Expense (Benefit), Effective Income Tax Rate Reconciliation, Amount [Abstract]
U.S. federal statutory tax rate	$ 37,159	$ 13,664	$ 11,470
State and local income tax, net of federal tax income effect	9,772	2,392	903
Change in unrecognized tax benefits	(1,662)	1,779	1,380
Tax credits:
Research and development tax credits	(4,319)	(5,931)	(4,600)
Nontaxable or nondeductible items:
(Windfalls) Shortfalls related to equity compensation	(1,805)	(610)	4,280
Nondeductible portion of executive compensation	2,583	3,313	2,230
Other	20	(3)	(141)
Other adjustments:
Benefit from intraperiod tax allocation	(481)	(868)	0
Other	2	0	156
Income tax expense	$ 41,269	$ 13,736	$ 15,678
Effective Income Tax Rate Reconciliation, Percent [Abstract]
U.S. federal statutory tax rate	21.00%	21.00%	21.00%
State and local income tax, net of federal tax income effect	5.52%	3.68%	1.65%
Change in unrecognized tax benefits	(0.94%)	2.73%	2.53%
Tax credits:
Research and development tax credits	(2.44%)	(9.12%)	(8.42%)
Nontaxable or nondeductible items:
(Windfalls) Shortfalls related to equity compensation	(1.02%)	(0.94%)	7.84%
Nondeductible portion of executive compensation	1.46%	5.09%	4.08%
Other	0.01%	0.00%	(0.26%)
Other adjustments:
Benefit from intraperiod tax allocation	(0.27%)	(1.33%)	0.00%
Other	0.00%	0.00%	0.29%
Effective income tax rate	23.32%	21.11%	28.71%

Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Other Liabilities [Abstract]
Accounts payable and accrued expenses	$ 87,341	$ 78,131
Due to borrowers	60,254	24,449
Operating lease liabilities	15,826	28,502
Payable to investors	11,926	22,833
Other	58,171	66,626
Total other liabilities	$ 233,518	$ 220,541

- Definition

Amount of liabilities classified as other.

+ References

+ Details

Marketplace Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
Marketplace Revenue (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Gain on sales of loans	$ 59,087	$ 49,097	$ 47,839
Net fair value adjustments	(134,946)	(154,659)	(134,114)
Total marketplace revenue	355,944	242,791	291,484
Origination fees
Disaggregation of Revenue [Line Items]
Revenue	372,815	283,420	279,146
Servicing fees
Disaggregation of Revenue [Line Items]
Revenue	$ 58,988	$ 64,933	$ 98,613

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

+ Details

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Structured Program Transactions and Variable Interest Entities (Tables)

12 Months Ended

Dec. 31, 2025

Transfers and Servicing [Abstract]

Schedule of VIE Assets and Liabilities and Unconsolidated VIEs

The following table presents the classifications of assets and liabilities on the Company’s Balance Sheet for its transactions with unconsolidated VIEs:


	December 31, 2025		December 31, 2024

Assets

Securities available for sale at fair value	$	3,311,780		$	3,069,771


Other assets	53,660			46,269
Total assets	$	3,365,440		$	3,116,040
Liabilities

Other liabilities	1,023			6,313
Total liabilities	$	1,023		$	6,313
Total net assets (maximum loss exposure)	$	3,364,417		$	3,109,727

The following table summarizes activity related to unconsolidated VIEs where the transfers were accounted for as a sale on the Company’s financial statements:


December 31,	2025		2024		2023
Fair value of consideration received:
Cash	$	1,094,285	$	394,205	$	172,397
Net securities retained from Structured Program transactions	1,993,586		2,711,693		1,299,313
Other assets, net	36,302		35,877		16,740
Total consideration	3,124,173		3,141,775		1,488,450
Fair value of loans sold	(3,090,986)		(3,079,628)		(1,474,077)
Sale of senior securities related to Structured Program transactions	—		(30,000)		—
Deconsolidation of debt	—		880		—
Principal derecognized from loans securitized or sold	—		(737)		—
Gain on sales of loans and securities (1)	$	33,187	$	32,290	$	14,373

Cash proceeds from continuing involvement:
Servicing and other administrative fees	$	38,300	$	27,047	$	5,475


Interest received on securities retained from Structured Program transactions	$	203,138	$	164,807	$	22,786

(1) Consists primarily of servicing assets recognized at the time of loan sale, less any transaction costs, and excludes origination fees and fair value adjustments recognized prior to the sale.

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details

Loans and Leases Held for Investment at Amortized Cost, Net of Allowance for Loan and Lease Losses - Schedule of Components of the Allowance for Loan and Lease Losses (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Gross allowance for loan and lease losses	$ 312,667	$ 285,686
Recovery asset value	(36,924)	(48,952)
Allowance for loan and lease losses	$ 275,743	$ 236,734	$ 310,387	$ 327,852

Leases - Schedule of Weighted-Average Remaining Lease Term and Discount Rate (Details)	Dec. 31, 2025	Dec. 31, 2024
Leases [Abstract]
Weighted-average remaining lease term (in years)	2 years 7 months 20 days	2 years 11 months 23 days
Weighted-average discount rate	4.56%	4.87%

LendingClub Corporation – Parent Company-Only Financial Statements - Balance Sheets (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Assets
Cash and due from banks	$ 11,749	$ 15,524
Interest-bearing deposits in banks	905,905	938,534
Total cash and cash equivalents	917,654	954,058
Restricted cash	12,783	23,338
Securities available for sale at fair value ($3,733,780 and $3,492,264 at amortized cost, respectively)	3,706,709	3,452,648
Loans held for investment at fair value	473,314	1,027,798
Property, equipment and software, net	254,088	167,532
Other assets	368,086	403,982
Total assets	11,567,816	10,630,509
Liabilities
Other liabilities	233,518	220,541
Total liabilities	10,067,388	9,288,778
Equity
Common stock, $0.01 par value; 180,000,000 shares authorized; 115,368,987 and 113,383,917 shares issued and outstanding, respectively	1,154	1,134
Additional paid-in capital	1,719,233	1,702,316
Accumulated deficit	(201,799)	(337,476)
Accumulated other comprehensive loss	(18,160)	(24,243)
Total equity	1,500,428	1,341,731	$ 1,251,822	$ 1,164,294
Total liabilities and equity	11,567,816	10,630,509
Securities available for sale, amortized cost	$ 3,733,780	$ 3,492,264
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	180,000,000	180,000,000
Common stock, shares outstanding (in shares)	115,368,987	113,383,917
Common stock, shares issued (shares)	115,368,987	113,383,917
LendingClub Corporation
Assets
Cash and due from banks	$ 116,190	$ 52,398
Interest-bearing deposits in banks	10,897	13,583
Total cash and cash equivalents	127,087	65,981
Restricted cash	16,659	27,536
Securities available for sale at fair value ($3,733,780 and $3,492,264 at amortized cost, respectively)	10,083	0
Loans held for investment at fair value	1,013	4,572
Property, equipment and software, net	3,920	8,537
Investment in subsidiary	1,260,008	1,177,745
Other assets	67,971	118,027
Total assets	1,486,741	1,402,398
Liabilities
Other liabilities	36,313	60,667
Total liabilities	36,313	60,667
Equity
Common stock, $0.01 par value; 180,000,000 shares authorized; 115,368,987 and 113,383,917 shares issued and outstanding, respectively	1,154	1,134
Additional paid-in capital	1,719,233	1,702,316
Accumulated deficit	(251,799)	(337,476)
Accumulated other comprehensive loss	(18,160)	(24,243)
Total equity	1,450,428	1,341,731
Total liabilities and equity	1,486,741	1,402,398
Securities available for sale, amortized cost	$ 10,083	$ 0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	180,000,000	180,000,000
Common stock, shares outstanding (in shares)	113,383,917	113,383,917
Common stock, shares issued (shares)	115,368,987	115,368,987

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Non-interest income:
Marketplace revenue	$ 355,944	$ 242,791	$ 291,484
Other non-interest income	17,232	10,179	11,297
Total non-interest income	373,176	252,970	302,781
Interest income:
Interest on loans held for sale	142,937	92,442	35,655
Interest and fees on loans and leases held for investment	490,071	494,214	616,735
Interest on loans held for investment at fair value	72,782	77,034	74,088
Interest on securities available for sale	223,820	187,961	40,235
Other interest income	31,933	56,307	65,917
Total interest income	961,543	907,958	832,630
Interest expense:
Interest on deposits	335,724	369,219	265,556
Other interest expense	147	4,698	5,236
Total interest expense	335,871	373,917	270,792
Net interest income	625,672	534,041	561,838
Total net revenue	998,848	787,011	864,619
Provision for credit losses	191,320	178,267	243,565
Non-interest expense:
Compensation and benefits	241,846	232,158	261,948
Marketing	149,211	100,402	93,840
Equipment and software	57,014	51,194	53,485
Depreciation and amortization	62,889	58,834	47,195
Professional services	42,339	32,045	35,173
Occupancy	19,834	15,798	17,532
Other non-interest expense	57,449	53,247	57,264
Total non-interest expense	630,582	543,678	566,437
Income before income tax expense	176,946	65,066	54,617
Income tax expense	(41,269)	(13,736)	(15,678)
Net income	$ 135,677	$ 51,330	$ 38,939
Earnings per share:
Basic EPS (in dollars per share)	$ 1.18	$ 0.46	$ 0.36
Diluted EPS (in dollars per share)	$ 1.16	$ 0.45	$ 0.36
Weighted-average common shares – basic (in shares)	114,605,220	111,731,523	108,466,179
Weighted-average common shares – diluted (in shares)	117,233,815	113,122,859	108,468,857

Derivative Instruments and Hedging Activities - Schedule of Notional and Gross Fair Value Amounts of Derivatives Not Designated (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional	$ 453,737	$ 212,484
Derivative Asset	528	72
Derivative Liability	$ (1,561)	$ (10,930)
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration]		Other liabilities
Credit derivatives
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional	$ 3,737	$ 12,484
Derivative Asset	0	0
Derivative Liability	(1,327)	(10,930)
Interest rate contract
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional	450,000	200,000
Derivative Asset	528	72
Derivative Liability	(234)	0
Interest rate caps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional	325,000	200,000
Derivative Asset	528	72
Derivative Liability	0	0
Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional	125,000	0
Derivative Asset	0	0
Derivative Liability	$ (234)	$ 0

Equity - Schedule of Stock Options Activity (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($) $ / shares shares
Number of Options
Outstanding at the beginning of period (in shares) \| shares	431,245
Exercisable at the beginning of period (in shares) \| shares	431,245
Forfeited/Expired (in shares) \| shares	(64,000)
Outstanding at the end of period (in shares) \| shares	367,245
Exercisable at the end of period (in shares) \| shares	367,245
Weighted-Average Exercise Price Per Share
Beginning of period (in dollars per share)	$ 46.29
Exercisable at the beginning of period (in dollars per share)	46.29
Forfeited/Expired (in dollars per share)	115.80
End of period (in dollars per share)	34.18
Exercisable at the end of period (in dollars per share)	$ 34.18
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Weighted-average remaining contractual life of options outstanding	2 months 12 days
Weighted-average remaining contractual life of options exercisable	2 months 12 days
Aggregate intrinsic value of options outstanding \| $	$ 168,000
Aggregate intrinsic value of options exercisable \| $	$ 168,000
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Stock price (in dollars per share)	$ 18.94

Goodwill and Intangible Assets - Schedule of Gross and Net Carrying Values and Accumulated Amortization of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]
Net carrying value	$ 7,419
Customer Relationships
Finite-Lived Intangible Assets [Line Items]
Gross carrying value	56,490	$ 54,500
Accumulated amortization	(49,071)	(45,914)
Net carrying value	$ 7,419	$ 8,586

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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Reference 26: http://www.xbrl.org/2003/role/exampleRef
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Reference 27: http://www.xbrl.org/2003/role/exampleRef
-Topic 805
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-Name Accounting Standards Codification
-Section 55
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Reference 28: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
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-Topic 350
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-Name Accounting Standards Codification
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
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-Name Accounting Standards Codification
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+ Details

LendingClub Corporation – Parent Company-Only Financial Statements - Statements of Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Non-interest income:
Marketplace revenue	$ 355,944	$ 242,791	$ 291,484
Other non-interest income	17,232	10,179	11,297
Total non-interest income	373,176	252,970	302,781
Interest income:
Interest on loans held for investment at fair value	72,782	77,034	74,088
Interest on securities available for sale	223,820	187,961	40,235
Other interest income	31,933	56,307	65,917
Total interest income	961,543	907,958	832,630
Interest expense:
Other interest expense	147	4,698	5,236
Total interest expense	335,871	373,917	270,792
Net interest income	625,672	534,041	561,838
Total net revenue	998,848	787,011	864,619
Non-interest expense:
Compensation and benefits	241,846	232,158	261,948
Marketing	149,211	100,402	93,840
Equipment and software	57,014	51,194	53,485
Depreciation and amortization	62,889	58,834	47,195
Professional services	42,339	32,045	35,173
Occupancy	19,834	15,798	17,532
Other non-interest expense	57,449	53,247	57,264
Total non-interest expense	630,582	543,678	566,437
Income tax (expense) benefit	(41,269)	(13,736)	(15,678)
Net income	135,677	51,330	38,939
LendingClub Corporation
Non-interest income:
Marketplace revenue	29,613	36,595	41,817
Other non-interest income	7,472	9,038	9,503
Total non-interest income	37,085	45,633	51,320
Interest income:
Interest on loans held for investment at fair value	474	1,831	6,811
Interest on securities available for sale	83	2,785	6,802
Other interest income	272	601	811
Total interest income	829	5,217	14,424
Interest expense:
Other interest expense	0	698	4,574
Total interest expense	0	698	4,574
Net interest income	829	4,519	9,850
Total net revenue	37,914	50,152	61,170
Non-interest expense:
Compensation and benefits	6,557	6,538	6,520
Marketing	0	2	0
Equipment and software	51	126	246
Depreciation and amortization	4,612	8,525	16,979
Professional services	650	669	1,210
Occupancy	7,766	8,216	9,552
Other non-interest expense	14,484	21,511	24,508
Total non-interest expense	34,120	45,587	59,015
Income before income tax benefit (expense)	3,794	4,565	2,155
Income tax (expense) benefit	233	(912)	2,203
Net income	4,027	3,653	4,358
Equity in undistributed earnings of subsidiary	131,650	47,677	34,581
Net income	$ 135,677	$ 51,330	$ 38,939

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Segment Reporting - Schedule of Segment Reporting Information by Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Assets
Total cash and cash equivalents	$ 917,654	$ 954,058
Restricted cash	12,783	23,338
Total securities available for sale	3,706,709	3,452,648
Loans and leases held for investment, net	3,997,069	3,889,084
Loans held for investment at fair value	473,314	1,027,798
Property, equipment and software, net	254,088	167,532
Goodwill	75,717	75,717
Other assets	368,086	403,982
Total assets	11,567,816	10,630,509
Liabilities and Equity
Total deposits	9,833,870	9,068,237
Other liabilities	233,518	220,541
Total liabilities	10,067,388	9,288,778
Total equity	1,500,428	1,341,731	$ 1,251,822	$ 1,164,294
Total liabilities and equity	11,567,816	10,630,509
Operating Segments
Assets
Total cash and cash equivalents	1,028,333	998,444
Restricted cash	16,659	27,536
Total securities available for sale	3,706,709	3,452,648
Loans held for sale at fair value	1,762,396	636,352
Loans and leases held for investment, net	3,997,069	3,889,084
Loans held for investment at fair value	473,314	1,027,798
Property, equipment and software, net	254,088	167,532
Investment in subsidiary	903,339	910,544
Goodwill	75,717	75,717
Other assets	388,811	421,819
Total assets	12,606,435	11,607,474
Liabilities and Equity
Total deposits	9,948,426	9,116,821
Other liabilities	254,243	238,378
Total liabilities	10,202,669	9,355,199
Total equity	2,403,766	2,252,275
Total liabilities and equity	12,606,435	11,607,474
Operating Segments \| LendingClub Bank
Assets
Total cash and cash equivalents	901,246	932,463
Restricted cash	0	0
Total securities available for sale	3,696,626	3,452,648
Loans held for sale at fair value	1,762,396	636,352
Loans and leases held for investment, net	3,997,069	3,889,084
Loans held for investment at fair value	472,301	1,023,226
Property, equipment and software, net	250,168	158,995
Investment in subsidiary	0	0
Goodwill	75,717	75,717
Other assets	316,488	300,621
Total assets	11,472,011	10,469,106
Liabilities and Equity
Total deposits	9,948,426	9,116,821
Other liabilities	217,930	177,711
Total liabilities	10,166,356	9,294,532
Total equity	1,305,655	1,174,574
Total liabilities and equity	11,472,011	10,469,106
Operating Segments \| LendingClub Corporation (Parent only)
Assets
Total cash and cash equivalents	127,087	65,981
Restricted cash	16,659	27,536
Total securities available for sale	10,083	0
Loans held for sale at fair value	0	0
Loans and leases held for investment, net	0	0
Loans held for investment at fair value	1,013	4,572
Property, equipment and software, net	3,920	8,537
Investment in subsidiary	903,339	910,544
Goodwill	0	0
Other assets	72,323	121,198
Total assets	1,134,424	1,138,368
Liabilities and Equity
Total deposits	0	0
Other liabilities	36,313	60,667
Total liabilities	36,313	60,667
Total equity	1,098,111	1,077,701
Total liabilities and equity	1,134,424	1,138,368
Intersegment Eliminations
Assets
Total assets	(1,038,619)	(976,965)
Liabilities and Equity
Total liabilities	(135,281)	(66,421)
Total equity	$ (903,338)	$ (910,544)

Derivative Instruments and Hedging Activities - Schedule of Gains (Losses) on Fair Value Hedges (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total gains on fair value hedges	$ 2,177	$ 5,415	$ 2,848
Unsecured personal loans:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Hedged item	(275)	(7,009)	8,881
Derivatives	168	6,894	(8,547)
Interest settlement on derivative	(8)	4,539	2,514
Total gains on fair value hedges	(115)	4,424	2,848
Securities available for sale:
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Hedged item	2,924	(2,197)	0
Derivatives	(3,010)	2,382	0
Interest settlement on derivative	2,378	806	0
Total gains on fair value hedges	$ 2,292	$ 991	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present, by level within the fair value hierarchy, the Company’s assets and liabilities measured at fair value on a recurring basis:


December 31, 2025	Level 1		Level 2		Level 3		Balance at Fair Value
Assets:
Loans held for sale at fair value	$	—	$	—	$	1,762,396	$	1,762,396
Loans held for investment at fair value	—		—		473,314		473,314
Securities available for sale:
Senior asset-backed securities related to Structured Program transactions	—		—		3,092,410		3,092,410
U.S. agency residential mortgage-backed securities	—		236,061		—		236,061
Other asset-backed securities related to Structured Program transactions	—		—		219,370		219,370
U.S. agency securities	—		73,862		—		73,862
Mortgage-backed securities	—		55,597		—		55,597
Municipal securities	—		2,606		—		2,606
Other securities	—		16,720		10,083		26,803

Total securities available for sale	—		384,846		3,321,863		3,706,709
Servicing assets	—		—		65,167		65,167
Other assets	—		2,099		—		2,099
Total assets	$	—	$	386,945	$	5,622,740	$	6,009,685

Liabilities:

Other liabilities	$	—	$	3,918	$	1,865	$	5,783
Total liabilities	$	—	$	3,918	$	1,865	$	5,783


December 31, 2024	Level 1		Level 2		Level 3		Balance at Fair Value
Assets:
Loans held for sale at fair value	$	—	$	—	$	636,352	$	636,352
Loans held for investment at fair value	—		—		1,027,798		1,027,798
Securities available for sale:
Senior asset-backed securities related to Structured Program transactions	—		—		2,899,824		2,899,824
U.S. agency residential mortgage-backed securities	—		226,925		—		226,925
Other asset-backed securities related to Structured Program transactions	—		—		169,948		169,948
U.S. agency securities	—		75,946		—		75,946
Mortgage-backed securities	—		56,674		—		56,674
Municipal securities	—		2,539		—		2,539
Other securities	—		20,792		—		20,792
Total securities available for sale	—		382,876		3,069,772		3,452,648
Servicing assets	—		—		60,697		60,697
Other assets	—		5,820		—		5,820
Total assets	$	—	$	388,696	$	4,794,619	$	5,183,315

Liabilities:

Other liabilities	$	—	$	5,019	$	11,799	$	16,818
Total liabilities	$	—	$	5,019	$	11,799	$	16,818

Schedule of Significant Unobservable Inputs Used in the Fair Value Measurement of Loans HFS, Loans HFI, Senior Asset-Backed Securities, Other Asset-Backed Securities and Servicing Assets

The following significant unobservable inputs were used in the fair value measurement of HFS loans:



	December 31, 2025						December 31, 2024
	Minimum		Maximum		Weighted-Average (1)		Minimum		Maximum		Weighted-Average (1)
Discount rate	6.6	%	9.0	%	7.1	%	7.1	%	11.9	%	7.9	%
Annualized net credit loss rate	3.3	%	16.0	%	6.3	%	1.8	%	21.2	%	5.4	%
Annualized prepayment rate	20.5	%	26.0	%	25.5	%	15.0	%	27.6	%	20.4	%

(1) The weighted-average rate is calculated using the principal balance of each loan pool with similar risk characteristics.

The following significant unobservable inputs were used in the fair value measurement of HFI loans (1):



	December 31, 2025						December 31, 2024
	Minimum		Maximum		Weighted-Average (2)		Minimum		Maximum		Weighted-Average (2)
Discount rate	6.5	%	8.5	%	7.0	%	7.2	%	21.8	%	10.5	%
Annualized net credit loss rate	4.1	%	19.1	%	7.4	%	3.0	%	20.2	%	6.6	%
Annualized prepayment rate	19.6	%	21.1	%	20.0	%	15.6	%	21.4	%	19.3	%

(2) The weighted-average rate is calculated using the principal balance of each loan pool with similar risk characteristics.

The following significant unobservable input, which includes credit spreads, was used in the fair value measurement of senior asset-backed securities related to Structured Program transactions:


	December 31, 2025						December 31, 2024
	Minimum		Maximum		Weighted-Average		Minimum		Maximum		Weighted-Average
Discount rate	5.0	%	5.4	%	5.2	%	6.0	%	6.0	%	6.0	%

The following significant unobservable inputs were used in the fair value measurement of other asset-backed securities related to Structured Program transactions:


	December 31, 2025						December 31, 2024
	Minimum		Maximum		Weighted-Average (1)		Minimum		Maximum		Weighted-Average (1)
Discount rate	6.6	%	8.6	%	6.9	%	7.1	%	11.0	%	7.9	%
Annualized net credit loss rate	3.1	%	6.2	%	5.0	%	3.4	%	7.4	%	5.0	%
Annualized prepayment rate	22.8	%	27.4	%	25.8	%	18.7	%	20.9	%	20.5	%

(1) The weighted-average rate is calculated using the principal balance of each security.

The following significant unobservable inputs were used in the fair value measurement for servicing assets related to loans sold to investors:



	December 31, 2025						December 31, 2024
	Minimum		Maximum		Weighted-Average (1)		Minimum		Maximum		Weighted-Average (1)
Discount rate	8.9	%	16.2	%	10.4	%	8.7	%	17.3	%	10.8	%
Annualized net credit loss rate	3.3	%	19.5	%	6.5	%	1.8	%	21.2	%	8.2	%
Annualized prepayment rate	19.9	%	25.9	%	24.6	%	14.8	%	27.5	%	20.0	%
Market servicing rate (2)	0.58	%	0.58	%	0.58	%	0.62	%	0.62	%	0.62	%

(1) The weighted-average rate is calculated using the principal balance of each loan pool with similar risk characteristics.

(2) The fees a willing market participant would require for the servicing of loans with similar characteristics as those in the Company’s serviced portfolio.

Schedule of Sensitivity of Loans HFS and Loans HFI at Fair Value to Adverse Changes in Key Assumptions

The sensitivity of HFS loans at fair value to adverse changes in key assumptions was as follows:


	December 31, 2025		December 31, 2024
Loans held for sale at fair value	$	1,762,396	$	636,352
Expected remaining weighted-average life (in years)	1.4		1.4
Discount rate:
100 basis point increase	$	(21,458)	$	(7,663)
200 basis point increase	$	(42,471)	$	(15,174)
Annualized net credit loss rate:
10% increase	$	(20,970)	$	(6,436)
20% increase	$	(41,766)	$	(12,937)
Annualized prepayment rate:
10% increase	$	(5,703)	$	(1,274)
20% increase	$	(10,546)	$	(2,444)

The sensitivity of HFI loans at fair value to adverse changes in key assumptions was as follows:


	December 31, 2025		December 31, 2024
Loans held for investment at fair value	$	473,314	$	1,027,798
Expected remaining weighted-average life (in years)	0.7		0.9
Discount rate:
100 basis point increase	$	(2,832)	$	(7,832)
200 basis point increase	$	(5,633)	$	(15,557)
Annualized net credit loss rate:
10% increase	$	(5,738)	$	(11,821)
20% increase	$	(13,161)	$	(25,428)
Annualized prepayment rate:
10% increase	$	(2,490)	$	(4,813)
20% increase	$	(4,979)	$	(9,854)

Schedule of Loans HFS, Loans HFI, Senior Asset-Backed Securities, Other Asset-Backed Securities and Servicing Assets at Fair Value Activity

The following table presents HFS loans at fair value activity:


Year Ended December 31,	2025		2024
Fair value at beginning of period	$	636,352	$	407,773
Originations and purchases	6,962,944		5,194,160
Sales	(5,272,927)		(4,576,779)
Principal payments	(420,262)		(231,624)

Realized charge-offs, net of recoveries, recorded in earnings	(26,993)		(20,336)
Fair value adjustments recorded in earnings	(116,718)		(136,842)
Fair value at end of period	$	1,762,396	$	636,352

The following table presents HFI loans at fair value activity:


Year Ended December 31,	2025		2024
Fair value at beginning of period	$	1,027,798	$	262,190
Purchases	138,055		1,396,223
Principal payments	(683,231)		(618,472)

Interest income accretion and fair value adjustments recorded in earnings	(9,308)		(12,143)
Fair value at end of period	$	473,314	$	1,027,798

The following table presents senior asset-backed securities related to Structured Program transactions activity:


Year Ended December 31,	2025		2024
Fair value at beginning of period	$	2,899,824	$	1,176,403
Additions	1,839,092		2,558,003
Sales	—		(30,114)

Cash received	(1,643,278)		(823,331)
Change in unrealized gain	(3,228)		18,863

Fair value at end of period	$	3,092,410	$	2,899,824

The following table presents other asset-backed securities related to Structured Program transactions activity:


Year Ended December 31,	2025		2024
Fair value at beginning of period	$	169,948	$	73,393
Additions	154,494		153,690

Cash received	(103,825)		(53,219)
Credit loss expense for securities available for sale	(566)		(3,217)
Change in unrealized loss	(681)		(699)

Fair value at end of period	$	219,370	$	169,948

The following table presents servicing assets activity:


Year Ended December 31,	2025		2024
Fair value at beginning of period	$	60,697	$	77,680
Issuances (1)	63,927		58,396
Change in fair value, included in Marketplace Revenue	(59,457)		(75,359)
Other net changes	—		(20)
Fair value at end of period	$	65,167	$	60,697

(1) Represents the servicing assets recorded when the loans are sold. Included in “Gain on sales of loans” within “Marketplace revenue” on the Income Statement.

Schedule of Aggregate Fair Value of HFS Loans and HFI Loans

The following table presents the components of each portfolio segment by class of financing receivable:


	December 31, 2025		December 31, 2024
Unsecured personal	$	3,191,430	$	3,106,472
Residential mortgages	151,073		172,711
Secured consumer	261,045		230,232

Total consumer loans held for investment	3,603,548		3,509,415
Equipment finance (1)	39,757		64,232
Commercial real estate (2)	472,489		373,785
Commercial and industrial	157,018		178,386
Total commercial loans and leases held for investment	669,264		616,403
Total loans and leases held for investment	4,272,812		4,125,818
Allowance for loan and lease losses	(275,743)		(236,734)
Loans and leases held for investment, net (2)	$	3,997,069	$	3,889,084

(1) Comprised of sales-type leases for equipment. See “Note 17. Leases” for additional information.

(2) Includes $286.8 million and $160.1 million in loans originated through the Small Business Association (SBA) as of December 31, 2025 and 2024, respectively.

The following table presents the components of the ALLL:


	December 31, 2025		December 31, 2024
Gross allowance for loan and lease losses (1)	$	312,667	$	285,686
Recovery asset value (2)	(36,924)		(48,952)
Allowance for loan and lease losses	$	275,743	$	236,734

(1) Represents the allowance for future estimated net charge-offs on existing portfolio balances.

(2) Represents the negative allowance for expected recoveries of amounts previously charged-off.


December 31, 2025	Consumer			Commercial			Total
Loans and leases held for investment	$	3,603,548		$	669,264		$	4,272,812

Allowance for loan and lease losses	$	258,811		$	16,932		$	275,743
Allowance ratio (1)	7.2		%	2.5		%	6.5		%

Gross allowance for loan and lease losses	$	295,735		$	16,932		$	312,667
Gross allowance ratio (1)	8.2		%	2.5		%	7.3		%


December 31, 2024	Consumer			Commercial			Total
Loans and leases held for investment	$	3,509,415		$	616,403		$	4,125,818

Allowance for loan and lease losses	$	212,598		$	24,136		$	236,734
Allowance ratio (1)	6.1		%	3.9		%	5.7		%

Gross allowance for loan and lease losses	$	261,550		$	24,136		$	285,686
Gross allowance ratio (1)	7.5		%	3.9		%	6.9		%

(1) Calculated as ALLL or gross ALLL, where applicable, to the corresponding portfolio segment balance of loans and leases held for investment at amortized cost.

The following table summarizes the aggregate fair value of the Company’s HFS loans, as well as the amount that was 90 days or more past due:


	December 31, 2025				December 31, 2024
	Total		90 or more days past due		Total		90 or more days past due
Aggregate unpaid principal balance	$	1,795,818	$	3,931	$	657,984	$	3,719
Cumulative fair value adjustments	(33,422)		(3,176)		(21,632)		(3,012)
Fair value of loans held for sale	$	1,762,396	$	755	$	636,352	$	707

The following table summarizes the aggregate fair value of the Company’s HFI loans at fair value, as well as the amount that was 90 days or more past due:


	December 31, 2025				December 31, 2024
	Total		90 or more days past due		Total		90 or more days past due
Aggregate unpaid principal balance	$	495,649	$	5,177	$	1,097,511	$	14,616
Cumulative fair value adjustments	(22,335)		(4,183)		(69,713)		(11,836)
Fair value of loans held for investment	$	473,314	$	994	$	1,027,798	$	2,780

Schedule of Sensitivity in the Fair Value of Senior Asset-Backed Securities and Other Asset-Backed Securities to Adverse Changes in Key Assumptions

The sensitivity in the fair value of senior asset-backed securities related to Structured Program transactions to adverse changes in key assumptions was as follows:


	December 31, 2025		December 31, 2024
Fair value of interests held	$	3,092,410	$	2,899,824
Expected remaining weighted-average life (in years)	1.1		1.2
Discount rate:
100 basis point increase	$	(32,467)	$	(37,315)
200 basis point increase	$	(64,934)	$	(74,630)

The sensitivity in the fair value of other asset-backed securities related to Structured Program transactions to adverse changes in key assumptions was as follows:


	December 31, 2025		December 31, 2024

Fair value of interests held	$	219,370	$	169,948
Expected remaining weighted-average life (in years)	1.2		1.3
Discount rate:
100 basis point increase	$	(2,285)	$	(1,909)
200 basis point increase	$	(4,529)	$	(3,783)
Annualized net credit loss rate:
10% increase	$	(2,077)	$	(1,778)
20% increase	$	(4,112)	$	(3,567)
Annualized prepayment rate:
10% increase	$	(674)	$	(432)
20% increase	$	(1,227)	$	(835)

Schedule of Sensitivity in the Fair Value of Servicing Assets to Adverse Changes in Key Assumptions

The sensitivity of the fair value of servicing assets to adverse changes in key assumptions was as follows:



	December 31, 2025		December 31, 2024
Fair value of servicing assets	$	65,167	$	60,697
Expected remaining weighted-average life (in years)	1.2		1.2
Discount rate:
100 basis point increase	$	(567)	$	(519)
200 basis point increase	$	(1,134)	$	(1,038)
Annualized net credit loss rate:
10% increase	$	(536)	$	(551)
20% increase	$	(1,071)	$	(1,102)
Annualized prepayment rate:
10% increase	$	(1,892)	$	(1,359)
20% increase	$	(3,785)	$	(2,718)

Schedule of Estimated Fair Value of Servicing Assets

The table below shows the impact on the estimated fair value of servicing assets, calculated using different market servicing rate assumptions:



	December 31, 2025			December 31, 2024
Weighted-average market servicing rate assumptions	0.58		%		0.62		%
Change in fair value from:
Market servicing rate increase by 0.10%	$	(7,289)			$	(6,940)
Market servicing rate decrease by 0.10%	$	7,289			$	6,940

Schedule of Financial Instruments Not Recorded at Fair Value


December 31, 2025	Carrying Amount		Level 1		Level 2		Level 3		Balance at Fair Value
Assets:
Loans and leases held for investment, net	$	3,997,069	$	—	$	—	$	4,251,852	$	4,251,852
Other assets	47,470		—		47,312		453		47,765
Total assets	$	4,044,539	$	—	$	47,312	$	4,252,305	$	4,299,617

Liabilities:
Deposits (1)	$	2,434,422	$	—	$	—	$	2,437,209	$	2,437,209



Other liabilities	40,931		—		11,926		29,005		40,931
Total liabilities	$	2,475,353	$	—	$	11,926	$	2,466,214	$	2,478,140


December 31, 2024	Carrying Amount		Level 1		Level 2		Level 3		Balance at Fair Value
Assets:

Loans and leases held for investment, net	$	3,889,084	$	—	$	—	$	4,051,497	$	4,051,497
Other assets	40,466		—		40,143		661		40,804
Total assets	$	3,929,550	$	—	$	40,143	$	4,052,158	$	4,092,301

Liabilities:
Deposits (1)	$	2,294,214	$	—	$	—	$	2,306,373	$	2,306,373



Other liabilities	44,801		—		22,833		21,968		44,801
Total liabilities	$	2,339,015	$	—	$	22,833	$	2,328,341	$	2,351,174

(1) Excludes deposit liabilities with no defined or contractual maturities.

Fair Value Measurements - Schedule of Estimated Fair Value of Servicing Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Fair Value Disclosures [Abstract]
Weighted-average market servicing rate assumptions, servicing assets	0.58%	0.62%
Market servicing rate increase by .1%	$ (7,289)	$ (6,940)
Market servicing rate decrease by .1%	$ 7,289	$ 6,940
Change in rate	0.10%	0.10%

Leases - Schedule of Components of Equipment Finance (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Leases [Abstract]
Lease receivables	$ 25,384	$ 49,290
Unguaranteed residual asset values	17,907	20,728
Unearned income	(3,690)	(6,125)
Deferred costs	156	339
Total	$ 39,757	$ 64,232

Fair Value Measurements - Schedule of Significant Unobservable Inputs Used in the Fair Value Measurement of Loans HFS (Details) - Level 3	Dec. 31, 2025	Dec. 31, 2024
Minimum \| Discount rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.066	0.071
Minimum \| Annualized net credit loss rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.033	0.018
Minimum \| Annualized prepayment rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.205	0.150
Maximum \| Discount rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.090	0.119
Maximum \| Annualized net credit loss rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.160	0.212
Maximum \| Annualized prepayment rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.260	0.276
Weighted-Average \| Discount rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.071	0.079
Weighted-Average \| Annualized net credit loss rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.063	0.054
Weighted-Average \| Annualized prepayment rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.255	0.204

Equity - Narrative (Details) - USD ($)	3 Months Ended	12 Months Ended
Equity - Narrative (Details) - USD ($)	Dec. 31, 2025	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Nov. 04, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants (shares)		0	0	0
Unrecognized compensation cost, options	$ 0	$ 0	$ 0	$ 0
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		2,874,448
Granted, aggregate fair value		$ 36,100,000
Unrecognized compensation cost related to unvested awards	36,900,000	$ 36,900,000
Unrecognized compensation cost, period for recognition		1 year 6 months
PBRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		325,472
Granted, aggregate fair value		$ 3,600,000
Unrecognized compensation cost related to unvested awards	$ 3,700,000	$ 3,700,000
Unrecognized compensation cost, period for recognition		9 months 18 days
Performance period		3 years
Stock Repurchase and Acquisition Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock acquisition and repurchase program, authorized amount					$ 100,000,000
Stock repurchases (in shares)	389,624
Weighted average purchase price (in dollars per share)	$ 18.27	$ 18.27

Equity (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Shares of Common Stock Reserved for Future Issuance

Shares of common stock reserved for future issuance was as follows:


December 31,	2025	2024
Available for future RSU, PBRSU and stock option grants	20,915,498	21,815,259
Unvested RSUs, PBRSUs and stock options outstanding	5,806,751	7,281,684
Available for ESPP	8,681,503	8,681,503
Total reserved for future issuance	35,403,752	37,778,446

Schedule of Stock-Based Compensation Expense

Stock-based compensation expense, included in “Compensation and benefits” expense on the Income Statement, was as follows for the periods presented:


Year Ended December 31,	2025		2024		2023

RSUs	$	34,730	$	43,841	$	57,213
PBRSUs	4,349		3,276		4,406

Stock-based compensation expense, gross	39,079		47,117		61,619
Less: Capitalized stock-based compensation expense	4,793		7,048		9,230
Stock-based compensation expense, net	$	34,286	$	40,069	$	52,389

Schedule of RSU Activity

The following table summarizes the Company’s RSU activity:


	Number of Units	Weighted- Average Grant Date Fair Value
Unvested at December 31, 2024	5,638,230	$	8.78
Granted	2,874,448	$	12.55
Vested	(3,442,613)	$	9.26
Forfeited/expired	(791,378)	$	9.80
Unvested at December 31, 2025	4,278,687	$	10.73

Schedule of PBRSU Activity

The following table summarizes the Company’s PBRSU activity:


	Number of Units	Weighted- Average Grant Date Fair Value
Unvested at December 31, 2024	1,212,209	$	8.68
Granted	325,472	$	10.94

Forfeited/expired	(376,862)	$	10.09
Unvested at December 31, 2025	1,160,819	$	8.86

Schedule of Stock Options Activity

The following table summarizes the activities for the Company’s stock options:


	Number of Options	Weighted-Average Exercise Price Per Share		Weighted-Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value (1) (in thousands)
Outstanding and exercisable at December 31, 2024	431,245	$	46.29


Forfeited/Expired	(64,000)	$	115.80
Outstanding and exercisable at December 31, 2025	367,245	$	34.18	0.2	$	168

(1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the Company’s closing stock price of $18.94 as reported on the New York Stock Exchange on December 31, 2025.

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Income Tax Disclosure [Abstract]
Valuation allowance	$ 48,047	$ 46,325
Amount of unrecognized tax benefits, if recognized, would impact the effective tax rate	20,700	22,400
Accrued interest and penalties related to unrecognized tax benefits	$ 400	$ 400

Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred tax assets, net	$ 96,159	$ 137,155
Servicing assets	65,326	61,020
Nonmarketable equity investments	48,462	44,114
Accrued interest receivable	43,918	40,388
Operating lease assets	12,942	21,304
Intangible assets, net	7,419	8,586
Other	93,860	91,415
Total other assets	368,086	403,982
Principal balance of underlying loan servicing rights	$ 7,600,000	$ 7,300,000

Loans and Leases Held for Investment at Amortized Cost, Net of Allowance for Loan and Lease Losses - Schedule of Nonaccrual Loans and Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Financing Receivable, Past Due [Line Items]
Nonaccrual	$ 60,432	$ 72,304
Nonaccrual with no related ACL	$ 16,367	$ 13,141
Nonaccrual ratios (as a percent)	1.40%	1.80%
Consumer
Financing Receivable, Past Due [Line Items]
Nonaccrual	$ 18,762	$ 22,019
Nonaccrual with no related ACL	$ 431	$ 295
Nonaccrual ratios (as a percent)	0.50%	0.60%
Consumer \| Unsecured personal
Financing Receivable, Past Due [Line Items]
Nonaccrual	$ 17,936	$ 21,387
Nonaccrual with no related ACL	0	0
Consumer \| Residential mortgages
Financing Receivable, Past Due [Line Items]
Nonaccrual	431	295
Nonaccrual with no related ACL	431	295
Consumer \| Secured consumer
Financing Receivable, Past Due [Line Items]
Nonaccrual	395	337
Nonaccrual with no related ACL	0	0
Commercial
Financing Receivable, Past Due [Line Items]
Nonaccrual	41,670	50,285
Nonaccrual with no related ACL	$ 15,936	$ 12,846
Nonaccrual ratios (as a percent)	6.20%	8.20%
Commercial \| Loans Guaranteed by Small Business Association
Financing Receivable, Past Due [Line Items]
Nonaccrual	$ 29,700	$ 31,200
Commercial \| Equipment finance
Financing Receivable, Past Due [Line Items]
Nonaccrual	3,088	4,516
Nonaccrual with no related ACL	0	0
Commercial \| Commercial real estate
Financing Receivable, Past Due [Line Items]
Nonaccrual	11,253	18,280
Nonaccrual with no related ACL	5,799	5,345
Commercial \| Commercial and industrial
Financing Receivable, Past Due [Line Items]
Nonaccrual	27,329	27,489
Nonaccrual with no related ACL	$ 10,137	$ 7,501

Leases - Schedule of Future Fixed Lease Payments Based on Maturity (Details) $ in Thousands	Dec. 31, 2025 USD ($)
Leases [Abstract]
2026	$ 4,654
2027	3,356
2028	2,460
2029	1,932
2030	1,990
Thereafter	6,215
Total lease payments	$ 20,607

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net income	$ 135,677	$ 51,330	$ 38,939
Adjustments to reconcile net income to net cash used for operating activities:
Net fair value adjustments	134,946	154,659	134,114
Change in fair value of loan servicing assets	59,457	75,359	62,581
Gain on sales of loans	(59,087)	(49,097)	(47,839)
Provision for credit losses	191,320	178,267	243,565
Accretion of deferred origination fees and marketing costs	(62,361)	(68,535)	(90,723)
Stock-based compensation, net	34,286	40,069	52,389
Depreciation and amortization	62,889	58,834	47,195
Other, net	9,995	10,754	(8,932)
Net change to loans held for sale	(3,267,348)	(3,101,778)	(1,535,037)
Net change in operating assets and liabilities:
Other assets	33,593	22,422	54,894
Other liabilities	(307)	(6,458)	(87,746)
Net cash used for operating activities	(2,726,940)	(2,634,174)	(1,136,600)
Cash flows from investing activities:
Net change in loans and leases	320,535	(223,857)	544,821
Purchases of securities available for sale	(30,452)	(49,786)	(61,648)
Proceeds from sales, maturities and paydowns of securities available for sale	1,786,765	938,409	97,709
Purchases of property, equipment and software, net	(140,341)	(54,302)	(59,509)
Other investing activities	(4,348)	(2,651)	(4,676)
Net cash provided by investing activities	1,932,159	607,813	516,697
Cash flows from financing activities:
Net change in deposits	769,915	1,742,479	921,393
Principal payments on borrowings	0	(19,202)	(111,993)
Other financing activities	(22,093)	(13,668)	(19,833)
Net cash provided by financing activities	747,822	1,709,609	789,567
Net increase (decrease) in cash, cash equivalents and restricted cash	(46,959)	(316,752)	169,664
Cash, cash equivalents and restricted cash, beginning of period	977,396	1,294,148	1,124,484
Cash, cash equivalents and restricted cash, end of period	930,437	977,396	1,294,148
Supplemental cash flow information:
Cash paid for interest	341,390	378,276	258,626
Cash paid for income taxes	3,377	275	6,631
Cash paid for operating leases included in the measurement of lease liabilities	13,688	12,869	12,797
Supplemental non-cash investing activity:
Net securities retained from Structured Program transactions	1,993,586	2,711,693	1,299,313
Supplemental non-cash financing activity:
Derecognition of payable to securitization note and residual certificate holders held in consolidated VIE	$ 0	$ 880	$ 0

Summary of Significant Accounting Policies (Details)	Dec. 31, 2025
Minimum
Class of Stock [Line Items]
Property and equipment, estimated useful life	3 years
Maximum
Class of Stock [Line Items]
Property and equipment, estimated useful life	7 years
Building
Class of Stock [Line Items]
Property and equipment, estimated useful life	39 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-2

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 480
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479857/480-10-S50-1

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 6: http://www.xbrl.org/2003/role/recommendedDisclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483014/272-10-45-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 272
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482987/272-10-50-1

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(d))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(27)(b))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
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-Paragraph 1
-Subparagraph (SX 210.5-02(28))
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 210
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-Paragraph 1
-Subparagraph (SX 210.5-02(29))
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-URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1

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-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 3
-Subparagraph (SX 210.6-03(i)(2))
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-URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 3
-Subparagraph (SX 210.6-03(i)(1))
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Subparagraph (SX 210.6-03(i)(2)(i))
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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+ Details

Leases - Schedule of Rental Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Rental income	$ 7,459	$ 0	$ 0
Operating lease, lease income, statement of income or comprehensive income [extensible enumeration]	Other non-interest income

Property, Equipment and Software, Net

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Property, Equipment and Software, Net

Property, equipment and software, net, consist of the following:


December 31,	2025		2024
Software (1)	$	259,773	$	222,000
Land, building and building improvements (2) (3)	81,601		—
Leasehold improvements	30,686		30,699
Computer equipment (4)	5,829		22,216
Furniture and fixtures	5,554		5,554
Total property, equipment and software	383,443		280,469
Accumulated depreciation and amortization	(129,355)		(112,937)
Total property, equipment and software, net	$	254,088	$	167,532

(3) Includes $7.7 million of building improvements in progress as of December 31, 2025.

(4) During the first quarter of 2025, the Company retired $16.8 million of fully depreciated computer equipment as part of its migration onto a cloud-based hosting platform.

Depreciation and amortization expense on property, equipment and software was $59.7 million, $49.8 million and $43.0 million for the years ended December 31, 2025, 2024 and 2023, respectively.

The Company recognized impairment expense of $5.5 million on its internally-developed software for the year ended December 31, 2024. This was recorded within “Depreciation and amortization” expense on the Income Statement. No impairment expense was recorded for the years ended December 31, 2025 and 2023.

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Securities available for sale, amortized cost	$ 3,733,780	$ 3,492,264
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (shares)	180,000,000	180,000,000
Common stock, shares issued (shares)	115,368,987	113,383,917
Common stock, shares outstanding (in shares)	115,368,987	113,383,917

Marketplace Revenue (Tables)

12 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

Schedule of Components of Marketplace Revenue

The following table presents components of marketplace revenue for the periods presented:


Year Ended December 31,	2025		2024		2023
Origination fees	$	372,815	$	283,420	$	279,146
Servicing fees	58,988		64,933		98,613
Gain on sales of loans	59,087		49,097		47,839
Net fair value adjustments	(134,946)		(154,659)		(134,114)
Total marketplace revenue	$	355,944	$	242,791	$	291,484

Loans and Leases Held for Investment at Amortized Cost, Net of Allowance for Loan and Lease Losses

12 Months Ended

Dec. 31, 2025

Receivables [Abstract]

Loans and Leases Held for Investment at Amortized Cost, Net of Allowance for Loan and Lease Losses

As of December 31, 2025, LendingClub recorded the majority of its loans and leases HFI at amortized cost. Other HFI loans and all HFS loans were recorded at fair value pursuant to the Company’s election of the fair value option.

Accrued interest receivable is excluded from the amortized cost basis of loans and leases HFI and is reported within “Other assets” on the Balance Sheet. Net accrued interest receivable related to loans and leases HFI at amortized cost was $17.9 million and $30.4 million as of December 31, 2025 and 2024, respectively.

Loans and Leases Held for Investment at Amortized Cost

The Company defines its loans and leases HFI portfolio segments as (i) consumer and (ii) commercial. The following table presents the components of each portfolio segment by class of financing receivable:


	December 31, 2025		December 31, 2024
Unsecured personal	$	3,191,430	$	3,106,472
Residential mortgages	151,073		172,711
Secured consumer	261,045		230,232

Total consumer loans held for investment	3,603,548		3,509,415
Equipment finance (1)	39,757		64,232
Commercial real estate (2)	472,489		373,785
Commercial and industrial	157,018		178,386
Total commercial loans and leases held for investment	669,264		616,403
Total loans and leases held for investment	4,272,812		4,125,818
Allowance for loan and lease losses	(275,743)		(236,734)
Loans and leases held for investment, net (2)	$	3,997,069	$	3,889,084

(1) Comprised of sales-type leases for equipment. See “Note 17. Leases” for additional information.

(2) Includes $286.8 million and $160.1 million in loans originated through the Small Business Association (SBA) as of December 31, 2025 and 2024, respectively.

The following table presents the components of the ALLL:


	December 31, 2025		December 31, 2024
Gross allowance for loan and lease losses (1)	$	312,667	$	285,686
Recovery asset value (2)	(36,924)		(48,952)
Allowance for loan and lease losses	$	275,743	$	236,734

(1) Represents the allowance for future estimated net charge-offs on existing portfolio balances.

(2) Represents the negative allowance for expected recoveries of amounts previously charged-off.


December 31, 2025	Consumer			Commercial			Total
Loans and leases held for investment	$	3,603,548		$	669,264		$	4,272,812

Allowance for loan and lease losses	$	258,811		$	16,932		$	275,743
Allowance ratio (1)	7.2		%	2.5		%	6.5		%

Gross allowance for loan and lease losses	$	295,735		$	16,932		$	312,667
Gross allowance ratio (1)	8.2		%	2.5		%	7.3		%


December 31, 2024	Consumer			Commercial			Total
Loans and leases held for investment	$	3,509,415		$	616,403		$	4,125,818

Allowance for loan and lease losses	$	212,598		$	24,136		$	236,734
Allowance ratio (1)	6.1		%	3.9		%	5.7		%

Gross allowance for loan and lease losses	$	261,550		$	24,136		$	285,686
Gross allowance ratio (1)	7.5		%	3.9		%	6.9		%

(1) Calculated as ALLL or gross ALLL, where applicable, to the corresponding portfolio segment balance of loans and leases held for investment at amortized cost.

The activity in the ACL by portfolio segment was as follows:


	Year Ended December 31,
	2025						2024						2023
	Consumer		Commercial		Total		Consumer		Commercial		Total		Consumer		Commercial		Total
Allowance for loan and lease losses:
Beginning of period	$	212,598	$	24,136	$	236,734	$	298,061	$	12,326	$	310,387	$	312,489	$	15,363	$	327,852
Credit loss expense (benefit)	190,031		897		190,928		160,581		14,849		175,430		244,518		(948)		243,570

Charge-offs (1)	(209,742)		(9,132)		(218,874)		(299,159)		(4,434)		(303,593)		(278,105)		(3,002)		(281,107)
Recoveries	65,924		1,031		66,955		53,115		1,395		54,510		19,159		913		20,072
End of period	$	258,811	$	16,932	$	275,743	$	212,598	$	24,136	$	236,734	$	298,061	$	12,326	$	310,387

Reserve for unfunded lending commitments:
Beginning of period	$	—	$	1,183	$	1,183	$	—	$	1,873	$	1,873	$	18	$	1,860	$	1,878
Credit loss (benefit) expense	—		(174)		(174)		—		(690)		(690)		(18)		13		(5)
End of period (2)	$	—	$	1,009	$	1,009	$	—	$	1,183	$	1,183	$	—	$	1,873	$	1,873

(1) Includes an $8.0 million charge-off recorded in the first quarter of 2025 related to one office loan within the Company’s Commercial Real Estate portfolio, which was fully reserved for in prior periods.

(2) Relates to $52.0 million, $105.0 million and $78.1 million of unfunded commitments as of December 31, 2025, 2024 and 2023, respectively.

The following table presents charge-offs by origination year for the year ended December 31, 2025:


	Gross Charge-Offs by Origination Year
	2025		2024		2023		2022		2021		Prior		Total
Unsecured personal (1)	$	17,391	$	55,604	$	61,022	$	59,685	$	13,737	$	—	$	207,439
Residential mortgages	—		—		—		—		—		—		—
Secured consumer	148		409		1,029		553		164		—		2,303






Total consumer loans held for investment	17,539		56,013		62,051		60,238		13,901		—		209,742
Equipment finance	—		—		—		—		—		—		—
Commercial real estate	—		—		—		—		—		8,597		8,597
Commercial and industrial	—		172		—		330		33		—		535
Total commercial loans and leases held for investment	—		172		—		330		33		8,597		9,132

Total loans and leases held for investment	$	17,539	$	56,185	$	62,051	$	60,568	$	13,934	$	8,597	$	218,874

(1) Unsecured personal loans are generally charged-off when a borrower is contractually 120 days past due.

Consumer Lending Credit Quality Indicators

The Company evaluates the credit quality of its consumer loan portfolio based on the aging status of the loan and by payment activity. Loan delinquency reporting is based upon borrower payment activity relative to the contractual terms of the loan. The following tables present the classes of financing receivables within the consumer portfolio segment by credit quality indicator based on delinquency status and origination year:


December 31, 2025	Term Loans and Leases by Origination Year
	2025		2024		2023		2022		2021		Prior		Total
Unsecured personal
Current	$	1,741,108	$	740,483	$	326,147	$	283,513	$	39,605	$	—	$	3,130,856
30-59 days past due	9,084		5,680		3,533		3,591		603		—		22,491
60-89 days past due	6,500		5,447		2,887		3,051		665		—		18,550
90 or more days past due	4,862		6,049		3,105		3,223		697		—		17,936
Total unsecured personal (1)	1,761,554		757,659		335,672		293,378		41,570		—		3,189,833
Residential mortgages
Current	—		—		—		40,931		50,129		59,039		150,099
30-59 days past due	—		—		—		—		—		—		—
60-89 days past due	—		—		—		—		—		888		888
90 or more days past due	—		—		—		—		—		86		86
Total residential mortgages	—		—		—		40,931		50,129		60,013		151,073
Secured consumer
Current	134,255		47,453		42,332		26,961		3,769		2,278		257,048
30-59 days past due	778		261		816		941		210		—		3,006
60-89 days past due	131		128		109		177		51		—		596
90 or more days past due	78		31		133		153		—		—		395
Total secured consumer	135,242		47,873		43,390		28,232		4,030		2,278		261,045






Total consumer loans held for investment	$	1,896,796	$	805,532	$	379,062	$	362,541	$	95,729	$	62,291	$	3,601,951

(1) Excludes cumulative basis adjustment for loans designated in fair value hedges under the portfolio layer method. As of December 31, 2025, the basis adjustment totaled $1.6 million and represents an increase to the amortized cost of the hedged loans. See “Note 8. Derivative Instruments and Hedging Activities” for additional information.


December 31, 2024	Term Loans and Leases by Origination Year
	2024		2023		2022		2021		2020		Prior		Total
Unsecured personal
Current	$	1,347,685	$	787,936	$	762,223	$	142,546	$	—	$	—	$	3,040,390
30-59 days past due	4,981		7,344		8,952		2,253		—		—		23,530
60-89 days past due	2,448		6,933		7,920		1,992		—		—		19,293
90 or more days past due	2,364		7,920		8,853		2,250		—		—		21,387
Total unsecured personal (1)	1,357,478		810,133		787,948		149,041		—		—		3,104,600
Residential mortgages
Current	—		—		45,828		52,679		28,176		45,789		172,472
30-59 days past due	—		—		—		—		—		151		151
60-89 days past due	—		—		—		—		—		88		88
90 or more days past due	—		—		—		—		—		—		—
Total residential mortgages	—		—		45,828		52,679		28,176		46,028		172,711
Secured consumer
Current	79,161		78,081		56,766		10,573		—		2,372		226,953
30-59 days past due	98		824		1,199		221		—		—		2,342
60-89 days past due	11		147		338		104		—		—		600
90 or more days past due	36		157		99		45		—		—		337
Total secured consumer	79,306		79,209		58,402		10,943		—		2,372		230,232






Total consumer loans held for investment	$	1,436,784	$	889,342	$	892,178	$	212,663	$	28,176	$	48,400	$	3,507,543

(1) Excludes cumulative basis adjustment for loans designated in fair value hedges under the portfolio layer method. As of December 31, 2024, the basis adjustment totaled $1.9 million and represents an increase to the amortized cost of the hedged loans. See “Note 8. Derivative Instruments and Hedging Activities” for additional information.

Commercial Lending Credit Quality Indicators

The Company evaluates the credit quality of its commercial loan portfolio based on regulatory risk ratings. The Company categorizes loans and leases into risk ratings based on relevant information about the quality and realizable value of collateral, if any, and the ability of obligors to service their debts, such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans and leases individually by classifying the loans and leases based on their associated credit risk and performs this analysis whenever credit is extended, renewed or modified, or when an observable event occurs indicating a potential decline in credit quality, and no less than annually for large balance loans. Risk rating classifications consist of the following:

Pass – Loans and leases that the Company believes will fully repay in accordance with the contractual loan terms.

Special Mention – Loans and leases with a potential weakness that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or the Company’s credit position at some future date.

Substandard – Loans and leases that are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans and leases so classified have a well-defined weakness or weaknesses that jeopardize the repayment and liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Normal payment from the borrower is in jeopardy, although loss of principal, while still possible, is not imminent.

Doubtful – Loans and leases that have all the weaknesses inherent in those classified as Substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently known facts, conditions, and values, highly questionable and improbable.

Loss – Loans and leases that are considered uncollectible and of little value.

The following tables present the classes of financing receivables within the commercial portfolio segment by risk rating and origination year:


December 31, 2025	Term Loans and Leases by Origination Year
	2025		2024		2023		2022		2021		Prior		Total		Guaranteed Amount (1)
Equipment finance
Pass	$	—	$	—	$	—	$	21,283	$	1,990	$	9,762	$	33,035	$	—
Special mention	—		—		—		2,587		227		—		2,814		—
Substandard	—		—		—		—		3,212		—		3,212		—
Doubtful	—		—		—		696		—		—		696		—
Loss	—		—		—		—		—		—		—		—
Total equipment finance	—		—		—		24,566		5,429		9,762		39,757		—
Commercial real estate
Pass	95,736		36,356		63,750		94,771		32,452		121,231		444,296		30,959
Special mention	—		—		—		—		—		6,088		6,088		—
Substandard	—		—		—		428		8,433		11,370		20,231		7,005
Doubtful	—		—		—		—		—		61		61		—
Loss	—		—		—		1,121		271		421		1,813		1,543
Total commercial real estate	95,736		36,356		63,750		96,320		41,156		139,171		472,489		39,507
Commercial and industrial
Pass	21,987		28,942		16,580		18,108		19,441		7,879		112,937		75,216
Special mention	—		—		—		8,535		2,959		67		11,561		9,264
Substandard	—		1,438		8,275		5,153		3,126		3,010		21,002		13,790
Doubtful	—		—		—		3,456		1,348		511		5,315		4,353
Loss	—		751		1,766		3,686		—		—		6,203		6,203
Total commercial and industrial	21,987		31,131		26,621		38,938		26,874		11,467		157,018		108,826
Total commercial loans and leases held for investment	$	117,723	$	67,487	$	90,371	$	159,824	$	73,459	$	160,400	$	669,264	$	148,333

(1) Represents loan balances guaranteed by the SBA.


December 31, 2024	Term Loans and Leases by Origination Year
	2024		2023		2022		2021		2020		Prior		Total		Guaranteed Amount (1)
Equipment finance
Pass	$	—	$	1,519	$	32,544	$	7,790	$	9,101	$	6,643	$	57,597	$	—
Special mention	—		—		335		602		—		—		937		—
Substandard	—		—		776		4,922		—		—		5,698		—
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total equipment finance	—		1,519		33,655		13,314		9,101		6,643		64,232		—
Commercial real estate
Pass	22,847		67,692		89,903		21,174		27,947		106,060		335,623		31,499
Special mention	—		—		—		—		252		6,276		6,528		—
Substandard	—		—		2,430		8,441		7,987		10,791		29,649		8,940
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		1,121		271		—		593		1,985		1,543
Total commercial real estate	22,847		67,692		93,454		29,886		36,186		123,720		373,785		41,982
Commercial and industrial
Pass	28,030		29,186		31,697		27,474		5,503		12,678		134,568		85,269
Special mention	635		—		5,165		2,652		76		—		8,528		7,065
Substandard	—		4,071		13,110		2,311		1,399		1,670		22,561		14,879
Doubtful	—		—		3,279		1,477		506		285		5,547		4,671
Loss	282		2,094		4,224		568		—		14		7,182		7,182
Total commercial and industrial	28,947		35,351		57,475		34,482		7,484		14,647		178,386		119,066
Total commercial loans and leases held for investment	$	51,794	$	104,562	$	184,584	$	77,682	$	52,771	$	145,010	$	616,403	$	161,048

(1) Represents loan balances guaranteed by the SBA.

The following tables present an analysis of the past due loans and leases HFI at amortized cost within the commercial portfolio segment:


December 31, 2025	30-59 Days		60-89 Days		90 or More Days		Total Days Past Due		Guaranteed Amount (1)
Equipment finance	$	696	$	—	$	3,088	$	3,784	$	—
Commercial real estate	—		—		11,182		11,182		8,231
Commercial and industrial	1,540		1,878		20,074		23,492		14,930
Total commercial loans and leases held for investment	$	2,236	$	1,878	$	34,344	$	38,458	$	23,161


December 31, 2024	30-59 Days		60-89 Days		90 or More Days		Total Days Past Due		Guaranteed Amount (1)
Equipment finance	$	67	$	—	$	4,551	$	4,618	$	—
Commercial real estate	8,320		483		9,731		18,534		8,456
Commercial and industrial	6,257		1,182		15,971		23,410		18,512
Total commercial loans and leases held for investment	$	14,644	$	1,665	$	30,253	$	46,562	$	26,968

(1) Represents loan balances guaranteed by the SBA.

Loan Modifications

The Company has loan modification programs to assist borrowers experiencing financial difficulty and to mitigate losses and maximize collections for loans serviced by the Company. The table below presents the amortized cost of loans that were modified during the periods presented, by modification type:


Year Ended December 31,	2025			2024			2023
Short-term payment reduction	$	17,880		$	26,421		$	4,867
Permanent loan modification	5,985			5,874			3,659
Debt settlement	3,352			5,631			7,350
Total loan modifications – unsecured personal loans	$	27,217		$	37,926		$	15,876

% of unsecured personal loans at amortized cost as of period end	0.9		%	1.2		%	0.4		%

The Company expanded its digital channels to enable borrowers experiencing financial difficulty to qualify for a short-term payment reduction modification program. Under this program, borrowers may receive a temporary payment reduction for three months. If the borrower meets the temporary payment reduction requirements during the first three-month term, they may qualify for a payment reduction for an additional three months. Receiving an additional three months of payment reduction is considered an other-than-insignificant payment delay and becomes a short-term payment reduction modification. The short-term payment reduction modification results in a term extension of five to nine months compared to the original maturity date of the loan and does not include any principal or interest forgiveness. At the time of receiving a payment reduction, a delinquent loan resets to current status. However, if a borrower fails to comply with the modified terms, the delinquency status returns to the original contractual terms of the loan. Borrowers who were in their first three months of temporary payment reduction had a total of $12.7 million of loan balances at amortized cost outstanding as of December 31, 2025, and may subsequently be eligible for a short-term payment reduction modification.

Permanent loan modifications include both a reduction in contractual interest rates and an extension to the contractual maturity date of up to twelve months and do not include any principal forgiveness. To qualify for this modification, borrowers must meet the Company’s debt-to-income ratio requirements. During the years ended December 31, 2025, 2024, and 2023 the weighted-average interest rate reduction under this program was approximately 8.4%, 8.0% and 9.2%, respectively. The weighted-average maturity date extension was approximately twelve months for all periods.

Debt settlement modifications, which include engaging with debt settlement companies, reduce the principal and interest amounts owed by borrowers. The Company typically charges-off such loans within a few months following the modification, as payments under the modified agreement are less than the original contractual amounts.

The following table presents the delinquency status of the amortized cost of loan modifications as of the periods presented below that were modified during the preceding twelve months:


	December 31, 2025						December 31, 2024
	Short-term Payment Reduction		Permanent Loan Modification		Debt Settlement		Short-term Payment Reduction		Permanent Loan Modification		Debt Settlement
Unsecured personal loans
Current	$	14,750	$	5,541	$	47	$	21,471	$	5,285	$	43
30-59 days	1,357		171		29		1,851		247		19
60-89 days	894		162		585		1,462		159		811
90 or more days	879		111		2,691		1,637		183		4,758
Total loan modifications	$	17,880	$	5,985	$	3,352	$	26,421	$	5,874	$	5,631

A modified loan is generally charged-off in the event of a borrower defaulting at 120 days past due. The table below presents the total amount of charge-offs during the period for loan modifications that were entered into within the preceding twelve months of charge-off:


Year Ended December 31,	2025		2024		2023
Short-term payment reduction	$	9,229	$	7,945	$	224
Permanent loan modification	1,542		2,136		308
Debt settlement	38,556		72,845		53,111
Total loan modifications – unsecured personal loans	$	49,327	$	82,926	$	53,643

Nonaccrual Assets

Nonaccrual loans and leases are those for which accrual of interest has been suspended. Loans and leases are generally placed on nonaccrual status when contractually past due 90 days or more, or earlier if management believes that the probability of collection does not warrant further accrual.

Certain loans on nonaccrual status may be considered collateral-dependent loans if the borrower is experiencing financial difficulty and repayment of the loan is expected to be substantially through sale of the collateral. Such loans are secured by various types of collateral, including real estate, auto and equipment, among others. Expected credit losses for the Company’s collateral-dependent loans are calculated as the difference between the amortized cost basis and the fair value of the underlying collateral less costs to sell, if applicable. The fair value of the underlying collateral is generally based on third-party appraisals, which are updated on a case-by-case basis.

The following table presents nonaccrual loans and leases:


Year Ended December 31,	2025				2024
	Nonaccrual		Nonaccrual with no related ACL(1)		Nonaccrual		Nonaccrual with no related ACL(1)
Unsecured personal	$	17,936	$	—	$	21,387	$	—
Residential mortgages	431		431		295		295
Secured consumer	395		—		337		—

Total nonaccrual consumer loans held for investment	18,762		431		22,019		295

Equipment finance	3,088		—		4,516		—
Commercial real estate	11,253		5,799		18,280		5,345
Commercial and industrial	27,329		10,137		27,489		7,501
Total nonaccrual commercial loans and leases held for investment (2)	41,670		15,936		50,285		12,846

Total nonaccrual loans and leases held for investment	$	60,432	$	16,367	$	72,304	$	13,141

(1) Subset of total nonaccrual loans and leases.

(2) Includes $29.7 million and $31.2 million in loan balances guaranteed by the SBA as of December 31, 2025 and 2024, respectively.


Year Ended December 31,	2025				2024
	Nonaccrual		Nonaccrual Ratios (1)		Nonaccrual		Nonaccrual Ratios (1)
Total nonaccrual consumer loans held for investment	$	18,762	0.5	%	$	22,019	0.6	%
Total nonaccrual commercial loans and leases held for investment	41,670		6.2	%	50,285		8.2	%
Total nonaccrual loans and leases held for investment	$	60,432	1.4	%	$	72,304	1.8	%

(1) Calculated as the ratio of non-accruing loans and leases to loans and leases HFI at amortized cost.

Derivative Instruments and Hedging Activities

12 Months Ended

Dec. 31, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Instruments and Hedging Activities

The Company uses derivative instruments, including interest rate contracts such as caps and swaps, to manage exposure to interest rate risk associated with its fixed-rate assets. The Company’s interest rate contracts are indexed to the Secured Overnight Financing Rate (SOFR). Interest rate swaps involve the payment of fixed-rate amounts to a counterparty in exchange for the receipt of variable-rate payments. With interest rate caps, the Company receives payments from a counterparty when SOFR exceeds a specified strike rate.

In addition, the Company provides credit support agreements to a limited number of strategic investors which are accounted for as credit derivative liabilities.

Derivatives Not Designated as Accounting Hedges

The table below presents the notional and gross fair value amounts of the Company’s derivatives that are not designated as accounting hedges:


	December 31, 2025						December 31, 2024
	Notional		Derivative Asset (1)		Derivative Liability (1)		Notional		Derivative Asset (1)		Derivative Liability (1)
Credit derivatives	$	3,737	$	—	$	(1,327)	$	12,484	$	—	$	(10,930)

Interest rate contracts:
Interest rate caps	325,000		528		—		200,000		72		—
Interest rate swaps	125,000		—		(234)		—		—		—
Total interest rate contracts	450,000		528		(234)		200,000		72		—

Total	$	453,737	$	528	$	(1,561)	$	212,484	$	72	$	(10,930)

(1) Recorded in “Other assets” or “Other liabilities,” as applicable, on the Balance Sheet and in “Operating activities” on the Statement of Cash Flows.

Credit derivatives represent credit support agreements related to loan sales, whereby the Company is obligated to make payments to a limited number of strategic investors approximately 18 months after sale if credit losses exceed certain initial agreed-upon thresholds, subject to a maximum dollar amount. The notional amount represents the Company’s maximum dollar exposure.

The table below presents the gains (losses) recognized on the Company’s derivatives that are not designated as accounting hedges:


Year Ended December 31,	2025		2024		2023
Credit derivatives (1)	$	3,528	$	(4,558)	$	(6,372)
Interest rate contracts (2)	(474)		(394)		—
Total gains (losses)	$	3,054	$	(4,952)	$	(6,372)

(2) Recorded in “Net fair value adjustments” within “Marketplace revenue” on the Income Statement.

Derivatives Designated as Accounting Hedges

The table below presents the notional and gross fair value amounts of the Company’s interest rate swaps that are designated as fair value hedges:


	December 31, 2025						December 31, 2024
	Notional		Derivative Asset (1)		Derivative Liability (1)		Notional		Derivative Asset (1)		Derivative Liability (1)
Unsecured personal loans	$	575,000	$	81	$	(1,566)	$	1,075,000	$	1,323	$	(2,976)
Securities available for sale	475,000		146		(774)		225,000		2,382		—
Total interest rate swaps	$	1,050,000	$	227	$	(2,340)	$	1,300,000	$	3,705	$	(2,976)

(1) Recorded in “Other assets” or “Other liabilities,” as applicable, on the Balance Sheet and in “Operating activities” on the Statement of Cash Flows.

The following table summarizes the gains (losses) recognized on the Company’s fair value hedges:


Year Ended December 31,	2025		2024		2023
Unsecured personal loans:
Hedged item	$	(275)	$	(7,009)	$	8,881
Derivatives	168		6,894		(8,547)
Interest settlement on derivative (1)	(8)		4,539		2,514
Total (losses) gains on hedged unsecured personal loans (2)	(115)		4,424		$	2,848

Securities available for sale:
Hedged item	2,924		(2,197)		—
Derivatives	(3,010)		2,382		—
Interest settlement on derivative (1)	2,378		806		—
Total gains on hedged securities available for sale (3)	2,292		991		—

Total gains on fair value hedges	$	2,177	$	5,415	$	2,848

(1) Includes accrued interest receivable and accrued interest payable.

(2) Recorded in “Interest and fees on loans and leases held for investment” on the Income Statement.

(3) Recorded in “Interest on securities available for sale” on the Income Statement.

The following table presents the cumulative basis adjustments for fair value hedges:


	December 31, 2025				December 31, 2024
Balance Sheet Line Item	Carrying Amount of Closed Portfolio (1)		Cumulative Fair Value Adjustment Included in the Carrying Amount of the Hedged Items		Carrying Amount of Closed Portfolio (1)		Cumulative Fair Value Adjustment Included in the Carrying Amount of the Hedged Items
Loans and leases held for investment	$	1,283,622	$	1,597	$	1,388,222	$	1,872
Securities available for sale	$	1,091,921	$	727	$	2,255,848	$	(2,197)

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

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+ Details

LendingClub Corporation – Parent Company-Only Financial Statements

12 Months Ended

Dec. 31, 2025

Condensed Financial Information Disclosure [Abstract]

LendingClub Corporation – Parent Company-Only Financial Statements

The following tables present standalone condensed financial statements for LendingClub Corporation (Parent Company). These statements are provided in accordance with SEC rules, which require such disclosures when the restricted net assets of a consolidated subsidiary exceed 25% of consolidated net assets, and should be read in conjunction with the Consolidated Financial Statements and the accompanying Notes to the Consolidated Financial Statements. For purposes of these condensed financial statements, the Parent’s wholly-owned subsidiary is presented in accordance with the equity method of accounting.

Statements of Income


Year Ended December 31,	2025		2024		2023
Non-interest income:
Marketplace revenue	$	29,613	$	36,595	$	41,817
Other non-interest income	7,472		9,038		9,503
Total non-interest income	37,085		45,633		51,320

Interest income:

Interest on loans held for investment at fair value	474		1,831		6,811
Interest on securities available for sale	83		2,785		6,802
Other interest income	272		601		811
Total interest income	829		5,217		14,424

Interest expense:
Other interest expense	—		698		4,574
Total interest expense	—		698		4,574

Net interest income	829		4,519		9,850

Total net revenue	37,914		50,152		61,170



Non-interest expense:
Compensation and benefits	6,557		6,538		6,520
Marketing	—		2		—
Equipment and software	51		126		246
Depreciation and amortization	4,612		8,525		16,979
Professional services	650		669		1,210
Occupancy	7,766		8,216		9,552
Other non-interest expense	14,484		21,511		24,508
Total non-interest expense	34,120		45,587		59,015

Income before income tax benefit (expense)	3,794		4,565		2,155
Income tax benefit (expense)	233		(912)		2,203
Income before undistributed earnings of subsidiary	4,027		3,653		4,358
Equity in undistributed earnings of subsidiary	131,650		47,677		34,581
Net income	$	135,677	$	51,330	$	38,939

In accordance with federal laws and regulations, dividends paid by LC Bank to the Company are subject to certain restrictions. See “Note 19. Regulatory Requirements” for more information.

Statements of Comprehensive Income


Year Ended December 31,	2025		2024		2023
Net income	$	135,677	$	51,330	$	38,939
Other comprehensive income, net of tax:
Net unrealized (loss) gain on securities available for sale	(553)		(3,076)		6,706
Equity in other comprehensive income (loss) of subsidiary	6,636		9,137		(1,282)
Other comprehensive income, net of tax	6,083		6,061		5,424
Total comprehensive income	$	141,760	$	57,391	$	44,363

Balance Sheets


December 31,	2025		2024
Assets
Cash and due from banks	$	116,190	$	52,398
Interest-bearing deposits in banks	10,897		13,583
Total cash and cash equivalents	127,087		65,981
Restricted cash	16,659		27,536
Securities available for sale at fair value ($10,083 and $0 at amortized cost, respectively)	10,083		—

Loans held for investment at fair value	1,013		4,572
Property, equipment and software, net	3,920		8,537
Investment in subsidiary	1,260,008		1,177,745
Other assets	67,971		118,027
Total assets	$	1,486,741	$	1,402,398
Liabilities and Equity


Other liabilities	36,313		60,667
Total liabilities	36,313		60,667
Equity

Common stock, $0.01 par value; 180,000,000 shares authorized; 115,368,987 and 113,383,917 shares issued and outstanding, respectively	1,154		1,134
Additional paid-in capital	1,719,233		1,702,316
Accumulated deficit	(251,799)		(337,476)
Accumulated other comprehensive loss	(18,160)		(24,243)
Total equity	1,450,428		1,341,731
Total liabilities and equity	$	1,486,741	$	1,402,398

Statements of Cash Flows


Year Ended December 31,	2025		2024		2023
Cash flows from operating activities:
Parent company net income	$	135,677	$	51,330	$	38,939
Adjustments to reconcile net income to net cash (used for) provided by operating activities:
Equity in undistributed earnings of subsidiary	(131,650)		(47,677)		(34,581)
Net fair value adjustments	(4,526)		(2,716)		(2,903)
Change in fair value of loan servicing assets	31,024		40,590		50,281

Stock-based compensation, net	4,230		4,505		5,253
Depreciation and amortization	4,612		8,525		16,979




Other, net	4		5		274
Net change to loans held for sale	—		1,121		5,953
Net change in operating assets and liabilities:
Other assets	(43,322)		(57,859)		(32,805)
Other liabilities	(24,487)		(26,349)		(30,741)
Net cash (used for) provided by operating activities	(28,438)		(28,525)		16,649
Cash flows from investing activities:

Proceeds from (payments for) investments in and advances to subsidiary	50,000		(50,000)		—

Purchase of servicing asset investment	—		(47,450)		(50,576)
Proceeds from servicing asset investment	54,278		72,718		72,343
Net change in loans held for investment	6,482		16,081		52,611
Purchases of securities available for sale	(10,000)		—		—

Proceeds from maturities and paydowns of securities available for sale	—		264		7,861

Other investing activities	—		—		200
Net cash provided by (used for) investing activities	100,760		(8,387)		82,439
Cash flows from financing activities:


Principal payments on borrowings	—		(12,804)		(54,237)














Other financing activities	(22,093)		(13,668)		(19,834)
Net cash used for financing activities	(22,093)		(26,472)		(74,071)
Net increase (decrease) in cash, cash equivalents and restricted cash	50,229		(63,384)		25,017
Cash, cash equivalents and restricted cash, beginning of period	93,517		156,901		131,884
Cash, cash equivalents and restricted cash, end of period	$	143,746	$	93,517	$	156,901

The following table presents cash, cash equivalents and restricted cash by category within the Parent Company balance sheet:


	December 31, 2025		December 31, 2024
Cash and cash equivalents	$	127,087	$	65,981
Restricted cash	16,659		27,536
Total cash, cash equivalents and restricted cash	$	143,746	$	93,517

Fair Value Measurements - Schedule of Loans HFS at Fair Value Activity and Aggregate Fair Value of HFS Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of loans held for sale	$ 1,762,396	$ 636,352
Loans Held for Sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value at beginning of period	636,352	407,773
Originations and purchases	6,962,944	5,194,160
Sales	(5,272,927)	(4,576,779)
Principal payments	(420,262)	(231,624)
Realized charge-offs, net of recoveries, recorded in earnings	(26,993)	(20,336)
Fair value adjustments recorded in earnings	(116,718)	(136,842)
Fair value at end of period	1,762,396	636,352
Aggregate unpaid principal balance	1,795,818	657,984
Cumulative fair value adjustments	(33,422)	(21,632)
Fair value of loans held for sale	1,762,396	636,352
90 or more days past due \| Loans Held for Sale
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Aggregate unpaid principal balance	3,931	3,719
Cumulative fair value adjustments	(3,176)	(3,012)
Fair value of loans held for sale	$ 755	$ 707

Income Taxes

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Income Taxes

Income tax expense (benefit) consisted of the following:


Year Ended December 31,	2025		2024		2023
Current:
Federal	$	1,854	$	316	$	3,180
State	1,972		2,551		(5,060)
Total current tax expense (benefit)	3,826		2,867		(1,880)

Deferred:
Federal	27,486		10,997		11,427
State	9,957		(128)		6,131
Total deferred expense	37,443		10,869		17,558
Income tax expense	$	41,269	$	13,736	$	15,678

The table below presents a reconciliation of the income tax expense at the statutory federal income tax rate to the income tax expense at the effective income tax rate:


Year Ended December 31,	2025				2024				2023
U.S. federal statutory tax rate	$	37,159	21.00	%	$	13,664	21.00	%	$	11,470	21.00	%
State and local income tax, net of federal tax income effect (1)	9,772		5.52	%	2,392		3.68	%	903		1.65	%
Change in unrecognized tax benefits	(1,662)		(0.94)	%	1,779		2.73	%	1,380		2.53	%
Tax credits:
Research and development tax credits	(4,319)		(2.44)	%	(5,931)		(9.12)	%	(4,600)		(8.42)	%



Nontaxable or nondeductible items:
(Windfalls) Shortfalls related to equity compensation	(1,805)		(1.02)	%	(610)		(0.94)	%	4,280		7.84	%
Nondeductible portion of executive compensation	2,583		1.46	%	3,313		5.09	%	2,230		4.08	%
Other	20		0.01	%	(3)		—	%	(141)		(0.26)	%
Other adjustments:
Benefit from intraperiod tax allocation	(481)		(0.27)	%	(868)		(1.33)	%	—		—	%

Other	2		—	%	—		—	%	156		0.29	%
Effective income tax rate	$	41,269	23.32	%	$	13,736	21.11	%	$	15,678	28.71	%

(1) The states that contribute to the majority (greater than 50%) of the tax effect in this category include California, Illinois, New Jersey and New York for 2025; California, Illinois, Massachusetts, New Jersey and New York for 2024; and California for 2023.

Cash paid for income taxes, net of refunds, are as follows:


Year Ended December 31,	2025		2024		2023
Federal	$	1,950	$	—	$	1,625
State:
Illinois	*		*		1,406
New Jersey	*		*		1,021
Georgia	*		*		591
New York	185		124		*
New York MCTD	*		48		*
Texas	380		132		*
New York City	*		119		*
Oregon	*		96		*
Pennsylvania	*		15		*
Utah	*		(160)		(519)
Colorado	*		(94)		*
Other	862		(5)		2,507
Total State	1,427		275		5,006
Income taxes, net of amounts refunded	$	3,377	$	275	$	6,631

* The amount of income taxes paid during the year does not meet the 5% disaggregation threshold and is included in “Other.”

The significant components of the Company’s net deferred tax assets were as follows:


December 31,	2025		2024
Deferred tax assets:
Allowance for loan and lease losses	$	67,876	$	64,925
Net operating loss carryforwards	40,327		54,981
Tax credit carryforwards	34,706		31,416
Reserves and accruals	13,584		13,699
Deferred compensation	7,862		9,862
Goodwill	5,671		8,244
Unrealized loss on AFS securities	5,545		9,096
Operating lease liabilities	3,818		7,649

Stock-based compensation	3,279		4,849
Other	2,892		3,187
Gross deferred tax assets	185,560		207,908
Valuation allowance	(48,047)		(46,325)
Total deferred tax assets	$	137,513	$	161,583

Deferred tax liabilities:
Internally-developed software	$	(27,634)	$	(5,280)
Leases	(7,817)		(11,283)

Operating lease assets	(3,122)		(5,717)
Servicing assets	(415)		(1,708)


Other	(2,366)		(440)
Total deferred tax liabilities	$	(41,354)	$	(24,428)
Deferred tax assets, net	$	96,159	$	137,155

As of December 31, 2025 and 2024, the Company maintained a valuation allowance of $48.0 million and $46.3 million, respectively, solely related to certain state net operating loss carryforwards (NOLs) and state tax credit carryforwards.

The table below provides information about the Company’s NOLs and tax credit carryforwards by jurisdiction:


	December 31, 2025		Expiration
Tax loss carryforwards (1):
Net operating loss – federal	$	—	Indefinite
Net operating loss – state	$	483,357	2030 - 2042
Net operating loss – state	$	41,195	Indefinite

Tax credit carryforwards (1):
Research and development credits – federal	$	35,542	2037 - 2045
Research and development credits – state	$	22,545	Indefinite

(1) The carryforwards, net of the valuation allowance for certain states, are expected to be fully utilized prior to expiration.

The table below presents a reconciliation of total unrecognized tax benefits:


Year Ended December 31,	2025		2024		2023
Unrecognized tax benefits at beginning of year	$	33,073	$	30,062	$	27,850
Gross increase (decrease) – tax positions related to prior years	(6,195)		671		(161)
Gross increase – tax positions related to current year	2,310		2,340		2,373
Unrecognized tax benefits at end of year	$	29,188	$	33,073	$	30,062

As of December 31, 2025 and 2024, $20.7 million and $22.4 million, respectively, of unrecognized tax benefits, if recognized, would impact the Company’s effective tax rate. The Company had $0.4 million accrued for the payment of interest and penalties related to unrecognized tax benefits as of December 31, 2025 and 2024.

The Company files income tax returns in the United States and various state jurisdictions. As of December 31, 2025, the Company’s federal tax returns for 2021 and earlier, and state tax returns for 2020 and earlier were no longer subject to examination by the taxing authorities. However, tax credit carryforwards from closed periods may be subject to audit and re-examination by tax authorities when utilized in subsequent years.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478822/944-740-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Regulatory Requirements - Schedule of Regulatory Capital Amounts and Ratios (Details) $ in Millions	Dec. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)
LendingClub Corporation
Amount
CET1 capital	$ 1,342.6	$ 1,188.6
Tier 1 capital	1,342.6	1,188.6
Total capital	1,441.0	1,276.5
Tier 1 leverage	1,342.6	1,188.6
Risk-weighted assets	7,696.1	6,887.1
Quarterly adjusted average assets	$ 11,174.0	$ 10,814.0
Ratio
CET1 capital	0.174	0.173
Tier 1 capital	0.174	0.173
Total capital	0.187	0.185
Tier 1 leverage	0.120	0.110
Well-Capitalized Minimum
Tier 1 capital	0.060
Total capital	0.100
LendingClub Bank
Amount
CET1 capital	$ 1,183.9	$ 1,101.4
Tier 1 capital	1,183.9	1,101.4
Total capital	1,281.8	1,188.5
Tier 1 leverage	1,183.9	1,101.4
Risk-weighted assets	7,652.0	6,823.1
Quarterly adjusted average assets	$ 11,090.4	$ 10,696.7
Ratio
CET1 capital	0.155	0.161
Tier 1 capital	0.155	0.161
Total capital	0.168	0.174
Tier 1 leverage	0.107	0.103
Well-Capitalized Minimum
CET1 capital	0.065
Tier 1 capital	0.080
Total capital	0.100
Tier 1 leverage	0.050

Leases - Schedule of Supplemental Cash Flow Information Related to Operating Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Leased assets remeasured resulting from new, amended or modified operating lease liabilities	$ 0	$ 1,987	$ (29,745)

Fair Value Measurements - Schedule of Sensitivity in the Fair Value of Other Asset-Backed Securities to Adverse Changes in Key Assumptions (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 3,706,709	$ 3,452,648
Other asset-backed securities related to Structured Program transactions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	219,370	169,948
Discount rate:
100 basis point increase	(2,285)	(1,909)
200 basis point increase	(4,529)	(3,783)
Annualized net credit loss rate:
10% increase	(2,077)	(1,778)
20% increase	(4,112)	(3,567)
Annualized prepayment rate:
10% increase	(674)	(432)
20% increase	$ (1,227)	$ (835)
Other asset-backed securities related to Structured Program transactions \| Weighted-Average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expected remaining weighted-average life (in years)	1 year 2 months 12 days	1 year 3 months 18 days

Commitments and Contingencies (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Commitments and Contingencies [Line Items]
Unfunded loan commitments	$ 98.2	$ 105.0
Unfunded Loan Commitment, Commitments to Extend Credit
Commitments and Contingencies [Line Items]
Unfunded loan commitments	$ 52.0		$ 78.1

Segment Reporting - Schedule of Segment Reporting Information by Statements of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Number of reportable segments not disclosed	Reportable Segments
Marketplace revenue	$ 355,944	$ 242,791	$ 291,484
Other non-interest income	17,232	10,179	11,297
Total non-interest income	373,176	252,970	302,781
Interest income	961,543	907,958	832,630
Interest expense	(335,871)	(373,917)	(270,792)
Net interest income	625,672	534,041	561,838
Total net revenue	998,848	787,011	864,619
Provision for credit losses	(191,320)	(178,267)	(243,565)
Non-interest expense:
Compensation and benefits	(241,846)	(232,158)	(261,948)
Marketing	(149,211)	(100,402)	(93,840)
Equipment and software	(57,014)	(51,194)	(53,485)
Depreciation and amortization	(62,889)	(58,834)	(47,195)
Professional services	(42,339)	(32,045)	(35,173)
Occupancy	(19,834)	(15,798)	(17,532)
Other non-interest expense	(57,449)	(53,247)	(57,264)
Total non-interest expense	(630,582)	(543,678)	(566,437)
Income tax (expense) benefit	(41,269)	(13,736)	(15,678)
Net income	135,677	51,330	38,939
Operating Segments
Segment Reporting Information [Line Items]
Marketplace revenue	333,543	213,516	248,198
Other non-interest income	59,522	62,681	84,187
Total non-interest income	393,065	276,197	332,385
Interest income	961,543	907,958	832,630
Interest expense	(335,871)	(373,917)	(270,792)
Net interest income	625,672	534,041	561,838
Total net revenue	1,018,737	810,238	894,223
Provision for credit losses	(191,320)	(178,267)	(243,565)
Non-interest expense:
Compensation and benefits	(241,846)	(232,158)	(261,948)
Marketing	(149,211)	(100,402)	(93,840)
Equipment and software	(57,014)	(51,194)	(53,485)
Depreciation and amortization	(62,889)	(58,834)	(47,195)
Professional services	(42,339)	(32,045)	(35,173)
Occupancy	(19,834)	(15,798)	(17,532)
Other non-interest expense	(77,338)	(76,474)	(86,868)
Total non-interest expense	(650,471)	(566,905)	(596,041)
Income tax (expense) benefit	(41,269)	(13,736)	(15,678)
Net income	135,677	51,330	38,939
Capital expenditures	143,566	54,302	59,509
Operating Segments \| LendingClub Bank
Segment Reporting Information [Line Items]
Marketplace revenue	303,930	176,921	206,381
Other non-interest income	52,050	53,643	74,684
Total non-interest income	355,980	230,564	281,065
Interest income	960,714	902,741	818,206
Interest expense	(335,871)	(373,219)	(266,218)
Net interest income	624,843	529,522	551,988
Total net revenue	980,823	760,086	833,053
Provision for credit losses	(191,320)	(178,267)	(243,565)
Non-interest expense:
Compensation and benefits	(235,289)	(225,620)	(255,428)
Marketing	(149,211)	(100,400)	(93,840)
Equipment and software	(56,963)	(51,068)	(53,239)
Depreciation and amortization	(58,277)	(50,309)	(30,216)
Professional services	(41,689)	(31,376)	(33,963)
Occupancy	(12,068)	(7,582)	(7,980)
Other non-interest expense	(62,854)	(54,963)	(62,360)
Total non-interest expense	(616,351)	(521,318)	(537,026)
Income tax (expense) benefit	(41,502)	(12,824)	(17,881)
Net income	131,650	47,677	34,581
Capital expenditures	143,566	54,302	59,509
Operating Segments \| LendingClub Corporation (Parent only)
Segment Reporting Information [Line Items]
Marketplace revenue	29,613	36,595	41,817
Other non-interest income	7,472	9,038	9,503
Total non-interest income	37,085	45,633	51,320
Interest income	829	5,217	14,424
Interest expense	0	(698)	(4,574)
Net interest income	829	4,519	9,850
Total net revenue	37,914	50,152	61,170
Provision for credit losses	0	0	0
Non-interest expense:
Compensation and benefits	(6,557)	(6,538)	(6,520)
Marketing	0	(2)	0
Equipment and software	(51)	(126)	(246)
Depreciation and amortization	(4,612)	(8,525)	(16,979)
Professional services	(650)	(669)	(1,210)
Occupancy	(7,766)	(8,216)	(9,552)
Other non-interest expense	(14,484)	(21,511)	(24,508)
Total non-interest expense	(34,120)	(45,587)	(59,015)
Income tax (expense) benefit	233	(912)	2,203
Net income	4,027	3,653	4,358
Capital expenditures	0	0	0
Intersegment Eliminations
Segment Reporting Information [Line Items]
Total net revenue	$ (19,889)	$ (23,227)	$ (29,604)

Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information

Financial information for the segments is presented in the following tables:


	LendingClub Bank						LendingClub Corporation (Parent only)						Total Reportable Segments
Year Ended December 31,	2025		2024		2023		2025		2024		2023			2025		2024		2023
Non-interest income:
Marketplace revenue	$	303,930	$	176,921	$	206,381	$	29,613	$	36,595	$	41,817		$	333,543	$	213,516	$	248,198
Other non-interest income	52,050		53,643		74,684		7,472		9,038		9,503			59,522		62,681		84,187
Total non-interest income	355,980		230,564		281,065		37,085		45,633		51,320			393,065		276,197		332,385

Interest income:
Interest income	960,714		902,741		818,206		829		5,217		14,424			961,543		907,958		832,630
Interest expense	(335,871)		(373,219)		(266,218)		—		(698)		(4,574)			(335,871)		(373,917)		(270,792)
Net interest income	624,843		529,522		551,988		829		4,519		9,850			625,672		534,041		561,838

Total net revenue	980,823		760,086		833,053		37,914		50,152		61,170			1,018,737		810,238		894,223

Provision for credit losses	(191,320)		(178,267)		(243,565)		—		—		—			(191,320)		(178,267)		(243,565)

Non-interest expense:
Compensation and benefits	(235,289)		(225,620)		(255,428)		(6,557)		(6,538)		(6,520)			(241,846)		(232,158)		(261,948)
Marketing	(149,211)		(100,400)		(93,840)		—		(2)		—			(149,211)		(100,402)		(93,840)
Equipment and software	(56,963)		(51,068)		(53,239)		(51)		(126)		(246)			(57,014)		(51,194)		(53,485)
Depreciation and amortization	(58,277)		(50,309)		(30,216)		(4,612)		(8,525)		(16,979)			(62,889)		(58,834)		(47,195)
Professional services	(41,689)		(31,376)		(33,963)		(650)		(669)		(1,210)			(42,339)		(32,045)		(35,173)
Occupancy	(12,068)		(7,582)		(7,980)		(7,766)		(8,216)		(9,552)			(19,834)		(15,798)		(17,532)
Other non-interest expense	(62,854)		(54,963)		(62,360)		(14,484)		(21,511)		(24,508)			(77,338)		(76,474)		(86,868)
Total non-interest expense	(616,351)		(521,318)		(537,026)		(34,120)		(45,587)		(59,015)			(650,471)		(566,905)		(596,041)

Income tax (expense) benefit	(41,502)		(12,824)		(17,881)		233		(912)		2,203			(41,269)		(13,736)		(15,678)
Net income (1)	$	131,650	$	47,677	$	34,581	$	4,027	$	3,653	$	4,358		$	135,677	$	51,330	$	38,939
Capital expenditures	$	143,566	$	54,302	$	59,509	$	—	$	—	$	—		$	143,566	$	54,302	$	59,509

(1) Total net income from reportable segments reflects net income on a consolidated basis.


Year Ended December 31,	2025		2024		2023
Total net revenue – reportable segments	$	1,018,737	$	810,238	$	894,223
Intercompany eliminations	(19,889)		(23,227)		(29,604)
Total net revenue – consolidated	$	998,848	$	787,011	$	864,619


	LendingClub Bank				LendingClub Corporation (Parent only)				Total Reportable Segments
December 31,	2025		2024		2025		2024			2025		2024
Assets
Total cash and cash equivalents	$	901,246	$	932,463	$	127,087	$	65,981		$	1,028,333	$	998,444
Restricted cash	—		—		16,659		27,536			16,659		27,536
Securities available for sale at fair value	3,696,626		3,452,648		10,083		—			3,706,709		3,452,648
Loans held for sale at fair value	1,762,396		636,352		—		—			1,762,396		636,352
Loans and leases held for investment, net	3,997,069		3,889,084		—		—			3,997,069		3,889,084
Loans held for investment at fair value	472,301		1,023,226		1,013		4,572			473,314		1,027,798
Property, equipment and software, net	250,168		158,995		3,920		8,537			254,088		167,532
Investment in subsidiary	—		—		903,339		910,544			903,339		910,544
Goodwill	75,717		75,717		—		—			75,717		75,717
Other assets	316,488		300,621		72,323		121,198			388,811		421,819
Total assets	11,472,011		10,469,106		1,134,424		1,138,368			12,606,435		11,607,474
Liabilities and Equity
Total deposits	9,948,426		9,116,821		—		—			9,948,426		9,116,821

Other liabilities	217,930		177,711		36,313		60,667			254,243		238,378
Total liabilities	10,166,356		9,294,532		36,313		60,667			10,202,669		9,355,199
Total equity	1,305,655		1,174,574		1,098,111		1,077,701			2,403,766		2,252,275
Total liabilities and equity	$	11,472,011	$	10,469,106	$	1,134,424	$	1,138,368		$	12,606,435	$	11,607,474


December 31,	2025		2024
Total assets – reportable segments	$	12,606,435	$	11,607,474
Intercompany eliminations	(1,038,619)		(976,965)
Total assets – consolidated	$	11,567,816	$	10,630,509


December 31,	2025		2024
Total liabilities and equity – reportable segments	$	12,606,435	$	11,607,474
Intercompany eliminations – liabilities	(135,281)		(66,421)
Intercompany eliminations – equity	(903,338)		(910,544)
Total liabilities and equity – consolidated	$	11,567,816	$	10,630,509

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Gross and Net Carrying Values and Accumulated Amortization of Intangible Assets

The gross and net carrying values and accumulated amortization were as follows:


December 31,	2025		2024
Gross carrying value	$	56,490	$	54,500
Accumulated amortization	(49,071)		(45,914)
Net carrying value	$	7,419	$	8,586

Schedule of Expected Future Amortization Expense for Intangible Assets

The expected future amortization expense for intangible assets as of December 31, 2025, is as follows:


2026	$	2,636
2027	1,943
2028	1,179
2029	729
2030	456
Thereafter	476
Total	$	7,419

Securities Available for Sale (Tables)

12 Months Ended

Dec. 31, 2025

Investments, Debt and Equity Securities [Abstract]

Schedule of Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of AFS Securities

The amortized cost, gross unrealized gains and losses, and fair value of AFS securities were as follows:


December 31, 2025	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
Senior asset-backed securities related to Structured Program transactions (1)	$	3,065,885	$	26,525	$	—	$	—	$	3,092,410
U.S. agency residential mortgage-backed securities	267,853		504		(32,296)		—		236,061
Other asset-backed securities related to Structured Program transactions (2)	224,802		28		(1,367)		(4,093)		219,370
U.S. agency securities	84,464		—		(10,602)		—		73,862
Mortgage-backed securities	60,423		135		(4,961)		—		55,597
Municipal securities	3,215		—		(609)		—		2,606
Other securities	27,138		45		(380)		—		26,803
Total securities available for sale	$	3,733,780	$	27,237	$	(50,215)	$	(4,093)	$	3,706,709


December 31, 2024	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Allowance for Credit Losses		Fair Value
Senior asset-backed securities related to Structured Program transactions (1)	$	2,870,071	$	30,398	$	(645)	$	—	$	2,899,824
U.S. agency residential mortgage-backed securities	270,120		48		(43,243)		—		226,925
Other asset-backed securities related to Structured Program transactions (2)	174,132		—		(657)		(3,527)		169,948
U.S. agency securities	90,459		—		(14,513)		—		75,946
Mortgage-backed securities	62,882		8		(6,216)		—		56,674

Municipal securities	3,236		—		(697)		—		2,539
Other securities	21,364		15		(587)		—		20,792
Total securities available for sale	$	3,492,264	$	30,469	$	(66,558)	$	(3,527)	$	3,452,648

Schedule of AFS Securities with Unrealized Losses, Aggregated by Period of Continuous Unrealized Loss

A summary of AFS securities with unrealized losses, aggregated by period of continuous unrealized loss, is as follows:


	Less than 12 months				12 months or longer				Total
December 31, 2025	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses

U.S. agency residential mortgage-backed securities	$	20,017	$	(266)	$	181,150	$	(32,030)	$	201,167	$	(32,296)
Other asset-backed securities related to Structured Program transactions	95,494		(1,034)		23,719		(333)		119,213		(1,367)
U.S. agency securities	—		—		73,862		(10,602)		73,862		(10,602)
Mortgage-backed securities	1,874		(5)		36,167		(4,956)		38,041		(4,961)
Municipal securities	—		—		2,606		(609)		2,606		(609)
Other securities	1,610		(10)		9,544		(370)		11,154		(380)

Total securities with unrealized losses	$	118,995	$	(1,315)	$	327,048	$	(48,900)	$	446,043	$	(50,215)

	Less than 12 months				12 months or longer				Total
December 31, 2024	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
Senior asset-backed securities related to Structured Program transactions	$	334,564	$	(645)	$	—	$	—	$	334,564	$	(645)
U.S. agency residential mortgage-backed securities	34,168		(782)		185,405		(42,461)		219,573		(43,243)
Other asset-backed securities related to Structured Program transactions	72,251		(657)		—		—		72,251		(657)
U.S. agency securities	—		—		75,946		(14,513)		75,946		(14,513)
Mortgage-backed securities	21,970		(316)		32,298		(5,900)		54,268		(6,216)
Municipal securities	—		—		2,539		(697)		2,539		(697)
Other securities	1,638		(4)		11,668		(583)		13,306		(587)
Total securities with unrealized losses	$	464,591	$	(2,404)	$	307,856	$	(64,154)	$	772,447	$	(66,558)

Schedule of Activity in the Allowance for Credit Losses for AFS Securities, by Security Type

The following table presents the activity in the allowance for credit losses for AFS securities, by security type:


Year Ended December 31,	2025		2024
Other asset-backed securities related to Structured Program transactions:
Allowance for credit losses, beginning of period	$	3,527	$	—
Credit loss expense for securities available for sale	566		3,527
Allowance for credit losses, end of period	$	4,093	$	3,527

Schedule of Contractual Maturities of AFS Securities

The contractual maturities of AFS securities were as follows:


December 31, 2025	Amortized Cost		Fair Value		Weighted- average Yield (1)





Due after 1 year through 5 years:
Senior asset-backed securities related to Structured Program transactions	$	3,065,885	$	3,092,410
Other asset-backed securities related to Structured Program transactions	224,802		219,370
U.S. agency securities	4,849		4,787
Mortgage-backed securities	2,552		2,403
Municipal securities	458		429
U.S. agency residential mortgage-backed securities	127		121
Other securities	10,136		10,137
Total due after 1 year through 5 years	3,308,809		3,329,657		6.66	%
Due after 5 years through 10 years:
U.S. agency securities	35,472		31,970
U.S. agency residential mortgage-backed securities	2,751		2,669
Mortgage-backed securities	880		779
Municipal securities	154		142
Other securities	9,666		9,674
Total due after 5 years through 10 years	48,923		45,234		3.62	%
Due after 10 years:
U.S. agency residential mortgage-backed securities	264,975		233,271
Mortgage-backed securities	56,991		52,415
U.S. agency securities	44,143		37,105
Municipal securities	2,603		2,035
Other securities	7,336		6,992
Total due after 10 years	376,048		331,818		3.09	%

Total securities available for sale	$	3,733,780	$	3,706,709	6.24	%

(1) The weighted-average yield is computed using the average month-end amortized cost during the year ended December 31, 2025.

Derivative Instruments and Hedging Activities - Narrative (Details)	12 Months Ended
	Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Maximum term of credit risk derivatives	18 months

Regulatory Requirements (Tables)

12 Months Ended

Dec. 31, 2025

Regulated Operations [Abstract]

Schedule of Regulatory Capital Amounts and Ratios

The following table presents the actual capital amounts and ratios of the Company and LC Bank as well as LC Bank’s regulatory minimum and “well-capitalized” requirements (dollars in millions):


	December 31, 2025				December 31, 2024				Required Minimum (1)		Well-Capitalized Minimum
	Amount		Ratio		Amount		Ratio
LendingClub Corporation:
CET1 capital (2)	$	1,342.6	17.4	%	$	1,188.6	17.3	%	7.0	%	N/A
Tier 1 capital	$	1,342.6	17.4	%	$	1,188.6	17.3	%	8.5	%	6.0	%
Total capital	$	1,441.0	18.7	%	$	1,276.5	18.5	%	10.5	%	10.0	%
Tier 1 leverage	$	1,342.6	12.0	%	$	1,188.6	11.0	%	4.0	%	N/A
Risk-weighted assets	$	7,696.1	N/A		$	6,887.1	N/A		N/A		N/A
Quarterly adjusted average assets	$	11,174.0	N/A		$	10,814.0	N/A		N/A		N/A

LendingClub Bank:
CET1 capital (2)	$	1,183.9	15.5	%	$	1,101.4	16.1	%	7.0	%	6.5	%
Tier 1 capital	$	1,183.9	15.5	%	$	1,101.4	16.1	%	8.5	%	8.0	%
Total capital	$	1,281.8	16.8	%	$	1,188.5	17.4	%	10.5	%	10.0	%
Tier 1 leverage	$	1,183.9	10.7	%	$	1,101.4	10.3	%	4.0	%	5.0	%
Risk-weighted assets	$	7,652.0	N/A		$	6,823.1	N/A		N/A		N/A
Quarterly adjusted average assets	$	11,090.4	N/A		$	10,696.7	N/A		N/A		N/A

N/A – Not applicable

(1) Required minimums presented for risk-based capital ratios include the required capital conservation buffer of 2.5%.

Leases

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Leases

Lessee Arrangements

The Company has various operating leases, including with respect to its headquarters in San Francisco, California, and office spaces in the Salt Lake City, Utah area, Boston, Massachusetts, and New York, New York. In April 2025, the Company acquired an office building located in San Francisco, California, which will be used as its headquarters beginning in the second quarter of 2026, following the expiration of its current San Francisco lease. As of December 31, 2025, the remaining leases have lease terms ranging from approximately two to three years. As of December 31, 2025, the Company pledged $0.5 million of cash and $1.1 million in letters of credit as security deposits in connection with its lease agreements.

Balance sheet information related to leases was as follows:


ROU Assets and Lease Liabilities	Balance Sheet Classification	December 31, 2025		December 31, 2024
Operating lease assets	Other assets	$	12,942	$	21,304
Operating lease liabilities	Other liabilities	$	15,826	$	28,502

Net lease costs were $10.9 million, $10.5 million and $12.0 million during the years ended December 31, 2025, 2024 and 2023, respectively. Such costs are recorded within “Occupancy” expense on the Income Statement.

Supplemental cash flow information related to the Company’s operating leases was as follows:


Year Ended December 31,	2025		2024		2023
Non-cash activity:
Leased assets remeasured resulting from new, amended or modified operating lease liabilities	$	—	$	1,987	$	(29,745)

The Company’s future minimum undiscounted lease payments under operating leases as of December 31, 2025 were as follows:


	Operating Lease Payments
2026	$	7,973
2027	5,010
2028	4,046
2029	909
2030	—

Total lease payments	$	17,938
Discount effect	(2,112)
Present value of future minimum lease payments	$	15,826

The weighted-average remaining lease term and discount rate used in the calculation of the Company’s operating lease assets and liabilities were as follows:


Lease Term and Discount Rate	December 31, 2025		December 31, 2024
Weighted-average remaining lease term (in years)	2.64		2.98
Weighted-average discount rate	4.56	%	4.87	%

Lessor Arrangements

Operating Leases

The Company leases space in its office building to third-party tenants under operating lease agreements with initial term expiration dates ranging from 2025 to 2034. Some of the agreements include options to extend the lease term for an additional five years.

Rental income earned from such leases was as follows for the periods presented:


Year Ended December 31,	2025		2024		2023
Rental income (1)	$	7,459	$	—	$	—

(1) Recorded in “Other non-interest income” on the Income Statement.

Future fixed lease payments to be received by the Company as of December 31, 2025, under non-cancelable operating leases, were as follows:


2026	$	4,654
2027	3,356
2028	2,460
2029	1,932
2030	1,990
Thereafter	6,215
Total lease payments	$	20,607

Sales-type Leases

The Company has sales-type leases for equipment (Equipment Finance). Such arrangements may include options to renew or to purchase the leased equipment at the end of the lease term.

Interest earned on Equipment Finance was as follows for the periods presented:


Year Ended December 31,	2025		2024		2023
Interest earned (1)	$	2,776	$	5,152	$	8,929

(1) Recorded in “Interest and fees on loans and leases held for investment” on the Income Statement.

The components of Equipment Finance assets are as follows:


December 31,	2025		2024
Lease receivables	$	25,384	$	49,290
Unguaranteed residual asset values	17,907		20,728
Unearned income	(3,690)		(6,125)
Deferred costs	156		339
Total	$	39,757	$	64,232

Future minimum lease payments based on maturity of the Company’s sales-type leases as of December 31, 2025 were as follows:


2026	$	13,420
2027	7,469
2028	3,823
2029	1,476
2030	—

Total lease payments	$	26,188
Discount effect	(804)
Present value of future minimum lease payments	$	25,384

Leases

Lessee Arrangements

Balance sheet information related to leases was as follows:


ROU Assets and Lease Liabilities	Balance Sheet Classification	December 31, 2025		December 31, 2024
Operating lease assets	Other assets	$	12,942	$	21,304
Operating lease liabilities	Other liabilities	$	15,826	$	28,502

Supplemental cash flow information related to the Company’s operating leases was as follows:


Year Ended December 31,	2025		2024		2023
Non-cash activity:
Leased assets remeasured resulting from new, amended or modified operating lease liabilities	$	—	$	1,987	$	(29,745)

The Company’s future minimum undiscounted lease payments under operating leases as of December 31, 2025 were as follows:


	Operating Lease Payments
2026	$	7,973
2027	5,010
2028	4,046
2029	909
2030	—

Total lease payments	$	17,938
Discount effect	(2,112)
Present value of future minimum lease payments	$	15,826

The weighted-average remaining lease term and discount rate used in the calculation of the Company’s operating lease assets and liabilities were as follows:


Lease Term and Discount Rate	December 31, 2025		December 31, 2024
Weighted-average remaining lease term (in years)	2.64		2.98
Weighted-average discount rate	4.56	%	4.87	%

Lessor Arrangements

Operating Leases

Rental income earned from such leases was as follows for the periods presented:


Year Ended December 31,	2025		2024		2023
Rental income (1)	$	7,459	$	—	$	—

(1) Recorded in “Other non-interest income” on the Income Statement.

Future fixed lease payments to be received by the Company as of December 31, 2025, under non-cancelable operating leases, were as follows:


2026	$	4,654
2027	3,356
2028	2,460
2029	1,932
2030	1,990
Thereafter	6,215
Total lease payments	$	20,607

Sales-type Leases

The Company has sales-type leases for equipment (Equipment Finance). Such arrangements may include options to renew or to purchase the leased equipment at the end of the lease term.

Interest earned on Equipment Finance was as follows for the periods presented:


Year Ended December 31,	2025		2024		2023
Interest earned (1)	$	2,776	$	5,152	$	8,929

(1) Recorded in “Interest and fees on loans and leases held for investment” on the Income Statement.

The components of Equipment Finance assets are as follows:


December 31,	2025		2024
Lease receivables	$	25,384	$	49,290
Unguaranteed residual asset values	17,907		20,728
Unearned income	(3,690)		(6,125)
Deferred costs	156		339
Total	$	39,757	$	64,232

Future minimum lease payments based on maturity of the Company’s sales-type leases as of December 31, 2025 were as follows:


2026	$	13,420
2027	7,469
2028	3,823
2029	1,476
2030	—

Total lease payments	$	26,188
Discount effect	(804)
Present value of future minimum lease payments	$	25,384

Fair Value Measurements - Schedule of Significant Unobservable Inputs Used in the Fair Value Measurement of Loans HFI (Details) - Level 3	Dec. 31, 2025	Dec. 31, 2024
Minimum \| Discount rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.065	0.072
Minimum \| Annualized net credit loss rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.041	0.030
Minimum \| Annualized prepayment rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.196	0.156
Maximum \| Discount rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.085	0.218
Maximum \| Annualized net credit loss rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.191	0.202
Maximum \| Annualized prepayment rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.211	0.214
Weighted-Average \| Discount rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.070	0.105
Weighted-Average \| Annualized net credit loss rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.074	0.066
Weighted-Average \| Annualized prepayment rate
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	0.200	0.193

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax (Expense) Benefit

Income tax expense (benefit) consisted of the following:


Year Ended December 31,	2025		2024		2023
Current:
Federal	$	1,854	$	316	$	3,180
State	1,972		2,551		(5,060)
Total current tax expense (benefit)	3,826		2,867		(1,880)

Deferred:
Federal	27,486		10,997		11,427
State	9,957		(128)		6,131
Total deferred expense	37,443		10,869		17,558
Income tax expense	$	41,269	$	13,736	$	15,678

Schedule of Effective Income Tax Rate Reconciliation

The table below presents a reconciliation of the income tax expense at the statutory federal income tax rate to the income tax expense at the effective income tax rate:


Year Ended December 31,	2025				2024				2023
U.S. federal statutory tax rate	$	37,159	21.00	%	$	13,664	21.00	%	$	11,470	21.00	%
State and local income tax, net of federal tax income effect (1)	9,772		5.52	%	2,392		3.68	%	903		1.65	%
Change in unrecognized tax benefits	(1,662)		(0.94)	%	1,779		2.73	%	1,380		2.53	%
Tax credits:
Research and development tax credits	(4,319)		(2.44)	%	(5,931)		(9.12)	%	(4,600)		(8.42)	%



Nontaxable or nondeductible items:
(Windfalls) Shortfalls related to equity compensation	(1,805)		(1.02)	%	(610)		(0.94)	%	4,280		7.84	%
Nondeductible portion of executive compensation	2,583		1.46	%	3,313		5.09	%	2,230		4.08	%
Other	20		0.01	%	(3)		—	%	(141)		(0.26)	%
Other adjustments:
Benefit from intraperiod tax allocation	(481)		(0.27)	%	(868)		(1.33)	%	—		—	%

Other	2		—	%	—		—	%	156		0.29	%
Effective income tax rate	$	41,269	23.32	%	$	13,736	21.11	%	$	15,678	28.71	%

Schedule of Cash Paid, Net of Refund

Cash paid for income taxes, net of refunds, are as follows:


Year Ended December 31,	2025		2024		2023
Federal	$	1,950	$	—	$	1,625
State:
Illinois	*		*		1,406
New Jersey	*		*		1,021
Georgia	*		*		591
New York	185		124		*
New York MCTD	*		48		*
Texas	380		132		*
New York City	*		119		*
Oregon	*		96		*
Pennsylvania	*		15		*
Utah	*		(160)		(519)
Colorado	*		(94)		*
Other	862		(5)		2,507
Total State	1,427		275		5,006
Income taxes, net of amounts refunded	$	3,377	$	275	$	6,631

* The amount of income taxes paid during the year does not meet the 5% disaggregation threshold and is included in “Other.”

Schedule of Deferred Tax Assets and Liabilities

The significant components of the Company’s net deferred tax assets were as follows:


December 31,	2025		2024
Deferred tax assets:
Allowance for loan and lease losses	$	67,876	$	64,925
Net operating loss carryforwards	40,327		54,981
Tax credit carryforwards	34,706		31,416
Reserves and accruals	13,584		13,699
Deferred compensation	7,862		9,862
Goodwill	5,671		8,244
Unrealized loss on AFS securities	5,545		9,096
Operating lease liabilities	3,818		7,649

Stock-based compensation	3,279		4,849
Other	2,892		3,187
Gross deferred tax assets	185,560		207,908
Valuation allowance	(48,047)		(46,325)
Total deferred tax assets	$	137,513	$	161,583

Deferred tax liabilities:
Internally-developed software	$	(27,634)	$	(5,280)
Leases	(7,817)		(11,283)

Operating lease assets	(3,122)		(5,717)
Servicing assets	(415)		(1,708)


Other	(2,366)		(440)
Total deferred tax liabilities	$	(41,354)	$	(24,428)
Deferred tax assets, net	$	96,159	$	137,155

Schedule of Operating Loss Carryforwards

The table below provides information about the Company’s NOLs and tax credit carryforwards by jurisdiction:


	December 31, 2025		Expiration
Tax loss carryforwards (1):
Net operating loss – federal	$	—	Indefinite
Net operating loss – state	$	483,357	2030 - 2042
Net operating loss – state	$	41,195	Indefinite

Tax credit carryforwards (1):
Research and development credits – federal	$	35,542	2037 - 2045
Research and development credits – state	$	22,545	Indefinite

(1) The carryforwards, net of the valuation allowance for certain states, are expected to be fully utilized prior to expiration.

Schedule of Tax Credit Carryforwards

The table below provides information about the Company’s NOLs and tax credit carryforwards by jurisdiction:


	December 31, 2025		Expiration
Tax loss carryforwards (1):
Net operating loss – federal	$	—	Indefinite
Net operating loss – state	$	483,357	2030 - 2042
Net operating loss – state	$	41,195	Indefinite

Tax credit carryforwards (1):
Research and development credits – federal	$	35,542	2037 - 2045
Research and development credits – state	$	22,545	Indefinite

(1) The carryforwards, net of the valuation allowance for certain states, are expected to be fully utilized prior to expiration.

Schedule of Reconciliation of the Beginning and Ending Balance of Total Unrecognized Tax Benefits

The table below presents a reconciliation of total unrecognized tax benefits:


Year Ended December 31,	2025		2024		2023
Unrecognized tax benefits at beginning of year	$	33,073	$	30,062	$	27,850
Gross increase (decrease) – tax positions related to prior years	(6,195)		671		(161)
Gross increase – tax positions related to current year	2,310		2,340		2,373
Unrecognized tax benefits at end of year	$	29,188	$	33,073	$	30,062

Fair Value Measurements - Schedule of Sensitivity of Loans HFS at Fair Value to Adverse Changes in Key Assumptions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for sale at fair value	$ 1,762,396	$ 636,352
Loans Held for Sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for sale at fair value	1,762,396	636,352
Discount rates, impact of 100 basis point increase	(21,458)	(7,663)
Discount rates, impact of 200 basis point increase	(42,471)	(15,174)
Expected credit loss rates on underlying loans, 10% adverse change	(20,970)	(6,436)
Expected credit loss rates on underlying loans, 20% adverse change	(41,766)	(12,937)
Expected prepayment rates, 10% adverse change	(5,703)	(1,274)
Expected prepayment rates, 20% adverse change	$ (10,546)	$ (2,444)
Expected Weighted-Average Life \| Loans Held for Sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expected remaining weighted-average life (in years)	1 year 4 months 24 days	1 year 4 months 24 days

Borrowings - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Debt Disclosure [Abstract]
Debt outstanding	$ 0.0	$ 0.0

- Definition

Amount, after deduction of unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References

+ Details

Property, Equipment and Software, Net - Schedule of Property, Equipment and Software, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2025	Dec. 31, 2025	Dec. 31, 2024
Property, Plant and Equipment [Line Items]
Total property, equipment and software		$ 383,443	$ 280,469
Accumulated depreciation and amortization		(129,355)	(112,937)
Total property, equipment and software, net		254,088	167,532
Computer equipment retired	$ 16,800
Software
Property, Plant and Equipment [Line Items]
Total property, equipment and software		259,773	222,000
Software development
Property, Plant and Equipment [Line Items]
Total property, equipment and software		28,300	43,400
Purchased software
Property, Plant and Equipment [Line Items]
Total property, equipment and software		6,800	7,100
Land, building and building improvements
Property, Plant and Equipment [Line Items]
Total property, equipment and software		81,601	0
Building improvements
Property, Plant and Equipment [Line Items]
Total property, equipment and software		7,700
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property, equipment and software		30,686	30,699
Computer equipment
Property, Plant and Equipment [Line Items]
Total property, equipment and software		5,829	22,216
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property, equipment and software		$ 5,554	$ 5,554

Segment Reporting

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Segment Reporting

Reportable Segments

The Company defines operating segments to be components of the Company for which discrete financial information is evaluated regularly by the Chief Operating Decision Maker (CODM) to allocate resources and evaluate financial performance. The measure of segment profit used by the CODM in this evaluation is net income. The CODM consists of the Company’s Chief Executive Officer and Chief Financial Officer. This information is reviewed according to the legal organizational structure of the Company’s operations with products and services presented separately for the parent bank holding company and its wholly-owned subsidiary, LC Bank, which are both considered reportable segments. Income taxes are recorded on a separate entity basis whereby each operating segment determines income tax expense or benefit as if it filed a separate tax return.

LendingClub Bank

The LC Bank operating segment represents the national bank legal entity and reflects operating activities after its formation. This segment provides a full complement of financial products and solutions, including loans and deposits. It originates loans to individuals and businesses, retains loans for investment, sells loans to marketplace investors and manages relationships with deposit holders.

LendingClub Corporation (Parent Only)

The LendingClub Corporation (Parent only) operating segment represents the holding company legal entity and predominately reflects the operations of the Company prior to the formation of LC Bank. This activity includes, but is not limited to, servicing fee revenue on purchased servicing assets, and interest income and interest expense related to transactions entered into prior to LC Bank’s formation.

Financial information for the segments is presented in the following tables:


	LendingClub Bank						LendingClub Corporation (Parent only)						Total Reportable Segments
Year Ended December 31,	2025		2024		2023		2025		2024		2023			2025		2024		2023
Non-interest income:
Marketplace revenue	$	303,930	$	176,921	$	206,381	$	29,613	$	36,595	$	41,817		$	333,543	$	213,516	$	248,198
Other non-interest income	52,050		53,643		74,684		7,472		9,038		9,503			59,522		62,681		84,187
Total non-interest income	355,980		230,564		281,065		37,085		45,633		51,320			393,065		276,197		332,385

Interest income:
Interest income	960,714		902,741		818,206		829		5,217		14,424			961,543		907,958		832,630
Interest expense	(335,871)		(373,219)		(266,218)		—		(698)		(4,574)			(335,871)		(373,917)		(270,792)
Net interest income	624,843		529,522		551,988		829		4,519		9,850			625,672		534,041		561,838

Total net revenue	980,823		760,086		833,053		37,914		50,152		61,170			1,018,737		810,238		894,223

Provision for credit losses	(191,320)		(178,267)		(243,565)		—		—		—			(191,320)		(178,267)		(243,565)

Non-interest expense:
Compensation and benefits	(235,289)		(225,620)		(255,428)		(6,557)		(6,538)		(6,520)			(241,846)		(232,158)		(261,948)
Marketing	(149,211)		(100,400)		(93,840)		—		(2)		—			(149,211)		(100,402)		(93,840)
Equipment and software	(56,963)		(51,068)		(53,239)		(51)		(126)		(246)			(57,014)		(51,194)		(53,485)
Depreciation and amortization	(58,277)		(50,309)		(30,216)		(4,612)		(8,525)		(16,979)			(62,889)		(58,834)		(47,195)
Professional services	(41,689)		(31,376)		(33,963)		(650)		(669)		(1,210)			(42,339)		(32,045)		(35,173)
Occupancy	(12,068)		(7,582)		(7,980)		(7,766)		(8,216)		(9,552)			(19,834)		(15,798)		(17,532)
Other non-interest expense	(62,854)		(54,963)		(62,360)		(14,484)		(21,511)		(24,508)			(77,338)		(76,474)		(86,868)
Total non-interest expense	(616,351)		(521,318)		(537,026)		(34,120)		(45,587)		(59,015)			(650,471)		(566,905)		(596,041)

Income tax (expense) benefit	(41,502)		(12,824)		(17,881)		233		(912)		2,203			(41,269)		(13,736)		(15,678)
Net income (1)	$	131,650	$	47,677	$	34,581	$	4,027	$	3,653	$	4,358		$	135,677	$	51,330	$	38,939
Capital expenditures	$	143,566	$	54,302	$	59,509	$	—	$	—	$	—		$	143,566	$	54,302	$	59,509

(1) Total net income from reportable segments reflects net income on a consolidated basis.


Year Ended December 31,	2025		2024		2023
Total net revenue – reportable segments	$	1,018,737	$	810,238	$	894,223
Intercompany eliminations	(19,889)		(23,227)		(29,604)
Total net revenue – consolidated	$	998,848	$	787,011	$	864,619

Each expense item reported above represents the Company’s “significant segment expenses” as they are separately evaluated by the CODM, with the exception of “Other non-interest expense” which represents “other segment items” and encompasses various miscellaneous operating expenses.


	LendingClub Bank				LendingClub Corporation (Parent only)				Total Reportable Segments
December 31,	2025		2024		2025		2024			2025		2024
Assets
Total cash and cash equivalents	$	901,246	$	932,463	$	127,087	$	65,981		$	1,028,333	$	998,444
Restricted cash	—		—		16,659		27,536			16,659		27,536
Securities available for sale at fair value	3,696,626		3,452,648		10,083		—			3,706,709		3,452,648
Loans held for sale at fair value	1,762,396		636,352		—		—			1,762,396		636,352
Loans and leases held for investment, net	3,997,069		3,889,084		—		—			3,997,069		3,889,084
Loans held for investment at fair value	472,301		1,023,226		1,013		4,572			473,314		1,027,798
Property, equipment and software, net	250,168		158,995		3,920		8,537			254,088		167,532
Investment in subsidiary	—		—		903,339		910,544			903,339		910,544
Goodwill	75,717		75,717		—		—			75,717		75,717
Other assets	316,488		300,621		72,323		121,198			388,811		421,819
Total assets	11,472,011		10,469,106		1,134,424		1,138,368			12,606,435		11,607,474
Liabilities and Equity
Total deposits	9,948,426		9,116,821		—		—			9,948,426		9,116,821

Other liabilities	217,930		177,711		36,313		60,667			254,243		238,378
Total liabilities	10,166,356		9,294,532		36,313		60,667			10,202,669		9,355,199
Total equity	1,305,655		1,174,574		1,098,111		1,077,701			2,403,766		2,252,275
Total liabilities and equity	$	11,472,011	$	10,469,106	$	1,134,424	$	1,138,368		$	12,606,435	$	11,607,474


December 31,	2025		2024
Total assets – reportable segments	$	12,606,435	$	11,607,474
Intercompany eliminations	(1,038,619)		(976,965)
Total assets – consolidated	$	11,567,816	$	10,630,509


December 31,	2025		2024
Total liabilities and equity – reportable segments	$	12,606,435	$	11,607,474
Intercompany eliminations – liabilities	(135,281)		(66,421)
Intercompany eliminations – equity	(903,338)		(910,544)
Total liabilities and equity – consolidated	$	11,567,816	$	10,630,509

Concentration and Geographic Information

No individual borrower or marketplace investor accounted for 10% or more of total net revenue for any of the periods presented. All of the Company’s revenue is generated in the United States, and all of the long-lived assets are based in the United States.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Loans and Leases Held for Investment at Amortized Cost, Net of Allowance for Loan and Lease Losses - Schedule of Loans and Leases Held for Investment at Amortized Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans and leases held for investment	$ 4,272,812	$ 4,125,818
Allowance for loan and lease losses	(275,743)	(236,734)	$ (310,387)	$ (327,852)
Loans and leases held for investment, net	3,997,069	3,889,084
Consumer
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans and leases held for investment	3,603,548	3,509,415
Allowance for loan and lease losses	(258,811)	(212,598)	(298,061)	(312,489)
Consumer \| Unsecured personal
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans and leases held for investment	3,191,430	3,106,472
Consumer \| Residential mortgages
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans and leases held for investment	151,073	172,711
Consumer \| Secured consumer
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans and leases held for investment	261,045	230,232
Commercial
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans and leases held for investment	669,264	616,403
Allowance for loan and lease losses	(16,932)	(24,136)	$ (12,326)	$ (15,363)
Commercial \| Equipment finance
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans and leases held for investment	39,757	64,232
Commercial \| Commercial real estate
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans and leases held for investment	472,489	373,785
Commercial \| Commercial real estate \| Small Business Association Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans and leases held for investment	286,800	160,100
Commercial \| Commercial and industrial
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans and leases held for investment	$ 157,018	$ 178,386

Fair Value Measurements - Schedule of Senior Asset-Backed Securities at Fair Value Activity (Details) - Senior asset-backed securities related to Structured Program transactions - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Sensitivity Analysis of Debt Securities Available-for-Sale [Line Items]
Fair value at beginning of period	$ 2,899,824	$ 1,176,403
Additions	1,839,092	2,558,003
Sales	0	(30,114)
Cash received	(1,643,278)	(823,331)
Change in unrealized loss	(3,228)	18,863
Fair value at end of period	$ 3,092,410	$ 2,899,824

Fair Value Measurements - Schedule of Significant Unobservable Inputs Used in the Fair Value Measurement of Senior Asset-Backed Securities (Details) - Senior asset-backed securities related to Structured Program transactions - Discount rate	Dec. 31, 2025	Dec. 31, 2024
Minimum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, debt securities available-for-sale	0.050	0.060
Maximum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, debt securities available-for-sale	0.054	0.060
Weighted-Average
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, debt securities available-for-sale	0.052	0.060

Fair Value Measurements - Schedule of Other Asset-Backed Securities at Fair Value Activity (Details) - Other asset-backed securities related to Structured Program transactions - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value at beginning of period	$ 169,948	$ 73,393
Originations and purchases	154,494	153,690
Cash received	(103,825)	(53,219)
Credit loss expense for securities available for sale	(566)	(3,217)
Change in unrealized loss	(681)	(699)
Fair value at end of period	$ 219,370	$ 169,948

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	Cybersecurity represents a critical component of our overall approach to risk management. Accordingly, cybersecurity risks are subject to oversight by the Company’s Board of Directors (the Board), primary responsibility for which has been delegated by the Board to its Operational Risk Committee (the Board Operational Risk Committee). Our cybersecurity policies, processes and practices are informed by the cybersecurity framework established by the National Institute of Standards and Technology. We are able to leverage a cross-functional team that includes senior personnel from our technology, operations, legal, risk management and internal audit functions as and when warranted by the particular cybersecurity matter. In managing cybersecurity risks, we strive to: (i) identify, prevent and mitigate cybersecurity threats; (ii) preserve the confidentiality, security and availability of proprietary or confidential information; (iii) protect the Company’s intellectual property; (iv) maintain the confidence of our members, marketplace investors and business partners; and (v) provide appropriate and required disclosure of cybersecurity risks and incidents. Risk Management and Strategy Our processes for assessing, identifying, and managing material risks from cybersecurity threats are fully integrated into our enterprise risk management (ERM) program and include the following areas of focus: •Systems Safeguards: Preventing and mitigating cybersecurity threats, including through the use of firewalls, intrusion prevention and detection systems, anti-malware software, access controls and other system safeguards. •Incident Response: Identifying and responding to cybersecurity incidents in accordance with our information security incident response plan. •Collaboration: Collaborating internally and with public and private entities, including intelligence and enforcement agencies, industry groups and third-party service providers, to identify, assess and respond to cybersecurity risks. •Third-Party Risk Management: Maintaining a comprehensive, risk-based approach to identifying and overseeing cybersecurity risks presented by third parties, including vendors, service providers and other external users of our systems. •Training: Reinforcing our information security policies, processes and practices through periodic mandatory training for Company personnel. •Governance: Designing a comprehensive framework for the oversight of cybersecurity risk, with regular interaction between the Board Operational Risk Committee and the Company’s ERM function, our Chief Information Security Officer (CISO) and members of Company management and relevant management committees, including the Company’s Management Operational Risk Committee (the Management Operational Risk Committee). A key part of our strategy for managing risks from cybersecurity threats is the assessment and testing of our processes and practices through auditing, assessments, tabletop exercises, threat modeling, vulnerability scanning and other exercises focused on evaluating the effectiveness of our cybersecurity measures. We engage third parties to perform assessments on our cybersecurity measures, including information security penetration tests, audits and independent reviews of our information security control environment and operating effectiveness. The results of such assessments, audits and reviews are reported to the Board Operational Risk Committee and are used to adjust our cybersecurity policies, standards, processes and practices, as necessary.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	Cybersecurity represents a critical component of our overall approach to risk management. Accordingly, cybersecurity risks are subject to oversight by the Company’s Board of Directors (the Board), primary responsibility for which has been delegated by the Board to its Operational Risk Committee (the Board Operational Risk Committee). Our cybersecurity policies, processes and practices are informed by the cybersecurity framework established by the National Institute of Standards and Technology. We are able to leverage a cross-functional team that includes senior personnel from our technology, operations, legal, risk management and internal audit functions as and when warranted by the particular cybersecurity matter. In managing cybersecurity risks, we strive to: (i) identify, prevent and mitigate cybersecurity threats; (ii) preserve the confidentiality, security and availability of proprietary or confidential information; (iii) protect the Company’s intellectual property; (iv) maintain the confidence of our members, marketplace investors and business partners; and (v) provide appropriate and required disclosure of cybersecurity risks and incidents. Risk Management and Strategy Our processes for assessing, identifying, and managing material risks from cybersecurity threats are fully integrated into our enterprise risk management (ERM) program and include the following areas of focus: •Systems Safeguards: Preventing and mitigating cybersecurity threats, including through the use of firewalls, intrusion prevention and detection systems, anti-malware software, access controls and other system safeguards. •Incident Response: Identifying and responding to cybersecurity incidents in accordance with our information security incident response plan. •Collaboration: Collaborating internally and with public and private entities, including intelligence and enforcement agencies, industry groups and third-party service providers, to identify, assess and respond to cybersecurity risks. •Third-Party Risk Management: Maintaining a comprehensive, risk-based approach to identifying and overseeing cybersecurity risks presented by third parties, including vendors, service providers and other external users of our systems. •Training: Reinforcing our information security policies, processes and practices through periodic mandatory training for Company personnel. •Governance: Designing a comprehensive framework for the oversight of cybersecurity risk, with regular interaction between the Board Operational Risk Committee and the Company’s ERM function, our Chief Information Security Officer (CISO) and members of Company management and relevant management committees, including the Company’s Management Operational Risk Committee (the Management Operational Risk Committee).
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The Board Operational Risk Committee oversees the management of risks from cybersecurity threats, including policies, processes and practices implemented by Company management to address such risks. The Board Operational Risk Committee receives presentations and reports on cybersecurity risks and information regarding any cybersecurity incident that meets established reporting thresholds, as well as ongoing updates until such incident has been addressed. At least once each year, the Board Operational Risk Committee discusses the Company’s approach to cybersecurity risk management with our CISO. Further, the Board periodically, as warranted, receives reports with respect to and engages in discussions with Company management on cybersecurity matters.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our CISO is principally responsible for overseeing our cybersecurity risk management program, in partnership with other senior personnel across the Company.
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	Our CISO works in coordination with the other members of the Company’s Management Operational Risk Committee, which includes our Chief Executive Officer, Chief Financial Officer, Chief Technology Officer, Chief Risk Officer and General Counsel. Our CISO has served in that role for over 5 years and in various roles in information technology and information security for over 20 years.
Cybersecurity Risk Role of Management [Text Block]	Our CISO is principally responsible for overseeing our cybersecurity risk management program, in partnership with other senior personnel across the Company. Our CISO works in coordination with the other members of the Company’s Management Operational Risk Committee, which includes our Chief Executive Officer, Chief Financial Officer, Chief Technology Officer, Chief Risk Officer and General Counsel. Our CISO has served in that role for over 5 years and in various roles in information technology and information security for over 20 years. Our CISO holds an undergraduate degree in computer information systems and has attained the professional certification of Certified Information Systems Security Professional. The other members of the Management Operational Risk Committee each have relevant qualifications and over 10 years of experience managing risk in the technology and/or financial services industry.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	Our CISO is principally responsible for overseeing our cybersecurity risk management program, in partnership with other senior personnel across the Company. Our CISO works in coordination with the other members of the Company’s Management Operational Risk Committee, which includes our Chief Executive Officer, Chief Financial Officer, Chief Technology Officer, Chief Risk Officer and General Counsel.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our CISO has served in that role for over 5 years and in various roles in information technology and information security for over 20 years. Our CISO holds an undergraduate degree in computer information systems and has attained the professional certification of Certified Information Systems Security Professional. The other members of the Management Operational Risk Committee each have relevant qualifications and over 10 years of experience managing risk in the technology and/or financial services industry.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	Our CISO is principally responsible for overseeing our cybersecurity risk management program, in partnership with other senior personnel across the Company. Our CISO works in coordination with the other members of the Company’s Management Operational Risk Committee, which includes our Chief Executive Officer, Chief Financial Officer, Chief Technology Officer, Chief Risk Officer and General Counsel. Our CISO has served in that role for over 5 years and in various roles in information technology and information security for over 20 years. Our CISO holds an undergraduate degree in computer information systems and has attained the professional certification of Certified Information Systems Security Professional. The other members of the Management Operational Risk Committee each have relevant qualifications and over 10 years of experience managing risk in the technology and/or financial services industry. Our CISO, in coordination with the Management Operational Risk Committee, works collaboratively across the Company to implement a program designed to protect our information systems from cybersecurity threats and to promptly respond to any cybersecurity incidents. To facilitate the success of this program, cross-functional teams are deployed to address cybersecurity threats and to respond to cybersecurity incidents in accordance with our information security incident response plan. Our CISO, through his team and use of accompanying technology, monitors the prevention, detection, mitigation and remediation of cybersecurity incidents, and report such incidents to the Management Operational Risk Committee and/or the Board Operational Risk Committee, as and when appropriate.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Operating Lease Commitments For discussion regarding the Company’s operating lease commitments, see “Note 17. Leases.” Loan Repurchase Obligations The Company is generally required to repurchase loans or interests therein from marketplace investors in cases of (i) confirmed identity theft or certain other types of fraud on the part of the borrower or a service provider; (ii) certain failures of loans to comply with the investor’s purchase order or as an investor accommodation; or (iii) confirmed material breach of representations made with respect to such loans that result in a material adverse effect on such loan. The Company believes such provisions are customary and consistent with institutional loan and securitization market standards. Unfunded Lending Commitments As of December 31, 2025 and 2024, the contractual amount of unfunded lending commitments totaled $98.2 million and $105.0 million, respectively, of which $52.0 million and $105.0 million, respectively, are commitments for loans (at amortized cost) to be funded. See “Note 5. Loans and Leases Held for Investment at Amortized Cost, Net of Allowance for Loan and Lease Losses” for additional detail on the reserve for unfunded lending commitments. Legal The Company is subject to various claims brought in a litigation or regulatory context. These include lawsuits and regulatory exams, investigations, or inquiries. In accordance with applicable accounting standards, the Company accrues for costs related to contingencies when a loss from such claims is probable and the amount of loss can be reasonably estimated. In determining whether a loss from a claim is probable and the loss can be reasonably estimated, the Company reviews and evaluates its litigation and regulatory matters on at least a quarterly basis in light of potentially relevant factual and legal developments. If the Company determines an unfavorable outcome is not probable or the amount of loss cannot be reasonably estimated, the Company does not accrue for a potential litigation loss. In those situations, the Company discloses an estimate or range of the reasonably possible losses, if such estimates can be made. Based on information available to the Company as of the date of this Annual Report, the Company does not believe that the resolution of the pending claims will have a material adverse effect on its financial position, results of operations or cash flows. Regulatory Examinations and Actions Relating to the Company’s Business Practices, and Compliance with Applicable Laws The Company is and has been subject to periodic inquiries, exams and enforcement actions brought by federal and state regulatory agencies relating to the Company’s business practices, and operating in compliance with applicable laws. In the past, the Company has successfully resolved such matters in a manner that was not material to its results of financial operations in any period and that did not materially limit the Company’s ability to conduct its business. However, no assurances can be given as to the timing, outcome or consequences of these matters or other similar matters if or as they arise.

Borrowings

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Borrowings

The Company did not have any debt outstanding as of December 31, 2025 or 2024.

Borrowing Capacity

The following table summarizes the Company’s available borrowing capacity and the related pledged collateral:


	December 31, 2025				December 31, 2024
	Available Borrowing Capacity		Pledged Collateral (1)		Available Borrowing Capacity		Pledged Collateral (2)
FRB Discount Window	$	3,294,827	$	4,245,845	$	2,635,034	$	3,245,547
FHLB of Des Moines	679,361		861,913		626,117		829,885
Total	$	3,974,188	$	5,107,758	$	3,261,151	$	4,075,432

(1) As of December 31, 2025, the Company had $4.2 billion in loans pledged under the FRB Discount Window and $486.2 million in loans and $375.7 million in securities available for sale at fair value pledged to the FHLB of Des Moines.

(2) As of December 31, 2024, the Company had $3.2 billion in loans pledged under the FRB Discount Window and $456.4 million in loans and $373.5 million in securities available for sale at fair value pledged to the FHLB of Des Moines.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Derivative Instruments and Hedging Activities - Schedule of Notional and Gross Fair Value Amounts of Derivatives Used for Hedging (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional	$ 453,737	$ 212,484
Derivative Asset	528	72
Derivative Liability	(1,561)	(10,930)
Interest rate swaps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional	125,000	0
Derivative Asset	0	0
Derivative Liability	(234)	0
Interest rate swaps \| Fair Value Hedging \| Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional	1,050,000	1,300,000
Derivative Asset	227	3,705
Derivative Liability	(2,340)	(2,976)
Interest rate swaps \| Fair Value Hedging \| Designated as Hedging Instrument \| Unsecured personal loans
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional	575,000	1,075,000
Derivative Asset	81	1,323
Derivative Liability	(1,566)	(2,976)
Interest rate swaps \| Fair Value Hedging \| Designated as Hedging Instrument \| Securities available for sale
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Notional	475,000	225,000
Derivative Asset	146	2,382
Derivative Liability	$ (774)	$ 0

- Definition

Fair value, after the effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset.

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+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

- Definition

Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes liabilities not subject to a master netting arrangement and not elected to be offset.

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+ Details

Fair Value Measurements - Schedule of Sensitivity of Loans HFI at Fair Value to Adverse Changes in Key Assumptions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment at fair value	$ 473,314	$ 1,027,798
Loans Held for Investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment at fair value	473,314	1,027,798
Discount rates, impact of 100 basis point increase	(2,832)	(7,832)
Discount rates, impact of 200 basis point increase	(5,633)	(15,557)
Expected credit loss rates on underlying loans, 10% adverse change	(5,738)	(11,821)
Expected credit loss rates on underlying loans, 20% adverse change	(13,161)	(25,428)
Expected prepayment rates, 10% adverse change	(2,490)	(4,813)
Expected prepayment rates, 20% adverse change	$ (4,979)	$ (9,854)
Weighted-Average \| Expected Weighted-Average Life \| Loans Held for Investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expected remaining weighted-average life (in years)	8 months 12 days	10 months 24 days

Fair Value Measurements - Schedule of Servicing Assets at Fair Value Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Servicing Assets, Changes in fair value due to:
Fair value at beginning of period	$ 60,697	$ 77,680
Issuances	63,927	58,396
Change in fair value, included in Marketplace Revenue	(59,457)	(75,359)
Other net changes	0	(20)
Fair value at end of period	$ 65,167	$ 60,697

- Definition

Fair value of an asset representing net future revenue from contractually specified servicing fees, late charges, and other ancillary revenues, in excess of future costs related to servicing arrangements.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
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-Section 50
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-URI https://asc.fasb.org/1943274/2147481260/860-50-45-2

+ Details

Fair Value Measurements - Schedule of Loans HFI at Fair Value Activity and Aggregate Fair Value of HFI Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of loans held for investment	$ 473,314	$ 1,027,798
Loans Held for Investment
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value at beginning of period	1,027,798	262,190
Originations and purchases	138,055	1,396,223
Principal payments	(683,231)	(618,472)
Interest income accretion and fair value adjustments recorded in earnings	(9,308)	(12,143)
Fair value at end of period	473,314	1,027,798
Fair value of loans held for investment	473,314	1,027,798
Balance at Fair Value
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value of loans held for investment	4,251,852	4,051,497
Balance at Fair Value \| Off-Balance Sheet Loans \| Loans Held for Investment
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Aggregate unpaid principal balance	495,649	1,097,511
Cumulative fair value adjustments	(22,335)	(69,713)
Fair value of loans held for investment	473,314	1,027,798
Balance at Fair Value \| Off-Balance Sheet Loans \| 90 or more days past due \| Loans Held for Investment
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Aggregate unpaid principal balance	5,177	14,616
Cumulative fair value adjustments	(4,183)	(11,836)
Fair value of loans held for investment	$ 994	$ 2,780

Equity

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Equity

Common Stock Reserved for Future Issuance

Shares of common stock reserved for future issuance was as follows:


December 31,	2025	2024
Available for future RSU, PBRSU and stock option grants	20,915,498	21,815,259
Unvested RSUs, PBRSUs and stock options outstanding	5,806,751	7,281,684
Available for ESPP	8,681,503	8,681,503
Total reserved for future issuance	35,403,752	37,778,446

Share Repurchases

On November 4, 2025, the Company’s Board of Directors approved a program to repurchase and acquire up to $100 million of the Company’s common stock through December 31, 2026. During the fourth quarter of 2025, the Company repurchased 389,624 shares of LendingClub common stock on the open market at an average price of $18.27 per share and subsequently retired those shares.

Employee Incentive Plans

The Company’s equity incentive plans provide for granting awards, including RSUs, PBRSUs, cash awards and stock options to employees, officers and directors.

Stock-based Compensation

Stock-based compensation expense, included in “Compensation and benefits” expense on the Income Statement, was as follows for the periods presented:


Year Ended December 31,	2025		2024		2023

RSUs	$	34,730	$	43,841	$	57,213
PBRSUs	4,349		3,276		4,406

Stock-based compensation expense, gross	39,079		47,117		61,619
Less: Capitalized stock-based compensation expense	4,793		7,048		9,230
Stock-based compensation expense, net	$	34,286	$	40,069	$	52,389

Restricted Stock Units

The following table summarizes the Company’s RSU activity:


	Number of Units	Weighted- Average Grant Date Fair Value
Unvested at December 31, 2024	5,638,230	$	8.78
Granted	2,874,448	$	12.55
Vested	(3,442,613)	$	9.26
Forfeited/expired	(791,378)	$	9.80
Unvested at December 31, 2025	4,278,687	$	10.73

During the year ended December 31, 2025, the Company granted 2,874,448 RSUs with an aggregate fair value of $36.1 million.

As of December 31, 2025, there was $36.9 million of unrecognized compensation cost related to unvested RSUs, which is expected to be recognized over a weighted-average period of approximately 1.5 years, subject to any forfeitures.

Performance-based Restricted Stock Units

The Company’s outstanding PBRSU awards consist of awards with a market-based metric and awards with an operating-based metric, all with a three-year performance period, following which any earned portion is immediately vested. With respect to PBRSU awards with a market-based metric, the compensation expense of the award is fixed at the time of grant (incorporating the probability of achieving the market-based metric) and expensed over the performance period. With respect to PBRSU awards with an operating-based metric, the compensation expense of the award is set at the time of grant (assuming a target level of achievement), subsequently adjusted for actual performance during the performance period and expensed over the performance/vesting period.

The following table summarizes the Company’s PBRSU activity:


	Number of Units	Weighted- Average Grant Date Fair Value
Unvested at December 31, 2024	1,212,209	$	8.68
Granted	325,472	$	10.94

Forfeited/expired	(376,862)	$	10.09
Unvested at December 31, 2025	1,160,819	$	8.86

During the year ended December 31, 2025, the Company granted 325,472 PBRSUs with an aggregate fair value of $3.6 million.

As of December 31, 2025, there was $3.7 million of unrecognized compensation cost related to unvested PBRSUs, which is expected to be recognized over a weighted-average period of approximately 0.8 years, subject to any forfeitures.

Stock Options

The following table summarizes the activities for the Company’s stock options:


	Number of Options	Weighted-Average Exercise Price Per Share		Weighted-Average Remaining Contractual Life (in years)	Aggregate Intrinsic Value (1) (in thousands)
Outstanding and exercisable at December 31, 2024	431,245	$	46.29


Forfeited/Expired	(64,000)	$	115.80
Outstanding and exercisable at December 31, 2025	367,245	$	34.18	0.2	$	168

There were no stock options granted during the years ended December 31, 2025, 2024 and 2023. Furthermore, all stock options were fully vested and there was no unrecognized compensation cost remaining for those periods.

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 135,677	$ 51,330	$ 38,939
Other comprehensive income:
Net unrealized gain on securities available for sale	10,187	9,836	10,238
Income tax effect	(4,104)	(3,775)	(2,926)
Other comprehensive income, net of tax	6,083	6,061	7,312
Total comprehensive income	$ 141,760	$ 57,391	$ 46,251

- Definition

+ References + Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

Loans and Leases Held for Investment at Amortized Cost, Net of Allowance for Loan and Lease Losses - Schedule of Analysis of the Past Due Loans and Leases HFI at Amortized Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	$ 4,272,812	$ 4,125,818
Commercial
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	669,264	616,403
Commercial \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	148,333	161,048
Commercial \| 30-59 Days
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	2,236	14,644
Commercial \| 60-89 Days
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	1,878	1,665
Commercial \| 90 or More Days
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	34,344	30,253
Commercial \| Total Days Past Due
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	38,458	46,562
Commercial \| Total Days Past Due \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	23,161	26,968
Commercial \| Equipment finance
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	39,757	64,232
Commercial \| Equipment finance \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	0	0
Commercial \| Equipment finance \| 30-59 Days
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	696	67
Commercial \| Equipment finance \| 60-89 Days
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	0	0
Commercial \| Equipment finance \| 90 or More Days
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	3,088	4,551
Commercial \| Equipment finance \| Total Days Past Due
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	3,784	4,618
Commercial \| Equipment finance \| Total Days Past Due \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	0	0
Commercial \| Commercial real estate
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	472,489	373,785
Commercial \| Commercial real estate \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	39,507	41,982
Commercial \| Commercial real estate \| 30-59 Days
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	0	8,320
Commercial \| Commercial real estate \| 60-89 Days
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	0	483
Commercial \| Commercial real estate \| 90 or More Days
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	11,182	9,731
Commercial \| Commercial real estate \| Total Days Past Due
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	11,182	18,534
Commercial \| Commercial real estate \| Total Days Past Due \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	8,231	8,456
Commercial \| Commercial and industrial
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	157,018	178,386
Commercial \| Commercial and industrial \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	108,826	119,066
Commercial \| Commercial and industrial \| 30-59 Days
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	1,540	6,257
Commercial \| Commercial and industrial \| 60-89 Days
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	1,878	1,182
Commercial \| Commercial and industrial \| 90 or More Days
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	20,074	15,971
Commercial \| Commercial and industrial \| Total Days Past Due
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	23,492	23,410
Commercial \| Commercial and industrial \| Total Days Past Due \| Loans Guaranteed by Small Business Association
Term Loans and Leases by Origination Year
Total commercial loans and leases held for investment	$ 14,930	$ 18,512

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Assets
Cash and due from banks	$ 11,749	$ 15,524
Interest-bearing deposits in banks	905,905	938,534
Total cash and cash equivalents	917,654	954,058
Restricted cash	12,783	23,338
Securities available for sale at fair value ($3,733,780 and $3,492,264 at amortized cost, respectively)	3,706,709	3,452,648
Loans held for sale at fair value	1,762,396	636,352
Loans and leases held for investment	4,272,812	4,125,818
Allowance for loan and lease losses	(275,743)	(236,734)
Loans and leases held for investment, net	3,997,069	3,889,084
Loans held for investment at fair value	473,314	1,027,798
Property, equipment and software, net	254,088	167,532
Goodwill	75,717	75,717
Other assets	368,086	403,982
Total assets	11,567,816	10,630,509
Deposits:
Interest-bearing	9,459,483	8,676,119
Noninterest-bearing	374,387	392,118
Total deposits	9,833,870	9,068,237
Other liabilities	233,518	220,541
Total liabilities	10,067,388	9,288,778
Equity
Common stock, $0.01 par value; 180,000,000 shares authorized; 115,368,987 and 113,383,917 shares issued and outstanding, respectively	1,154	1,134
Additional paid-in capital	1,719,233	1,702,316
Accumulated deficit	(201,799)	(337,476)
Accumulated other comprehensive loss	(18,160)	(24,243)
Total equity	1,500,428	1,341,731
Total liabilities and equity	$ 11,567,816	$ 10,630,509

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill

The Company’s goodwill balance was $75.7 million as of both December 31, 2025 and 2024. The Company did not record any goodwill impairment expense during the years ended December 31, 2025, 2024 and 2023. Goodwill is not amortized, but is subject to annual impairment tests that are performed in the fourth quarter of each calendar year. For additional detail, see “Note 1. Summary of Significant Accounting Policies.”

Intangible Assets

Intangible assets consist primarily of customer relationships. These intangible assets are amortized on an accelerated basis from ten to fourteen years.

Intangible assets, net of accumulated amortization, are included in “Other assets” on the Balance Sheet. The gross and net carrying values and accumulated amortization were as follows:


December 31,	2025		2024
Gross carrying value	$	56,490	$	54,500
Accumulated amortization	(49,071)		(45,914)
Net carrying value	$	7,419	$	8,586

Amortization expense associated with intangible assets for the years ended December 31, 2025, 2024 and 2023 was $3.2 million, $3.5 million and $4.2 million, respectively. There was no impairment loss for the years ended December 31, 2025, 2024 and 2023.

The expected future amortization expense for intangible assets as of December 31, 2025, is as follows:


2026	$	2,636
2027	1,943
2028	1,179
2029	729
2030	456
Thereafter	476
Total	$	7,419

Deposits - Schedule of Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Interest-bearing deposits:
Savings and money market accounts	$ 6,599,737	$ 5,903,869
Certificates of deposit	2,434,422	2,294,214
Checking accounts	425,324	478,036
Total	9,459,483	8,676,119
Noninterest-bearing deposits	374,387	392,118
Total deposits	$ 9,833,870	$ 9,068,237

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Deferred tax assets:
Allowance for loan and lease losses	$ 67,876	$ 64,925
Net operating loss carryforwards	40,327	54,981
Tax credit carryforwards	34,706	31,416
Reserves and accruals	13,584	13,699
Deferred compensation	7,862	9,862
Goodwill	5,671	8,244
Unrealized loss on AFS securities	5,545	9,096
Operating lease liabilities	3,818	7,649
Stock-based compensation	3,279	4,849
Other	2,892	3,187
Gross deferred tax assets	185,560	207,908
Valuation allowance	(48,047)	(46,325)
Total deferred tax assets	137,513	161,583
Deferred tax liabilities:
Internally-developed software	(27,634)	(5,280)
Leases	(7,817)	(11,283)
Operating lease assets	(3,122)	(5,717)
Servicing assets	(415)	(1,708)
Other	(2,366)	(440)
Total deferred tax liabilities	(41,354)	(24,428)
Deferred tax assets, net	$ 96,159	$ 137,155

Fair Value Measurements - Schedule of Sensitivity in the Fair Value of Servicing Assets to Adverse Changes in Key Assumptions (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Servicing assets	$ 65,167	$ 60,697	$ 77,680
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Servicing assets	65,167	60,697
Level 3 \| Servicing Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Servicing assets	$ 65,167	$ 60,697
Expected remaining weighted-average life (in years)	1 year 2 months 12 days	1 year 2 months 12 days
Discount rates, impact of 100 basis point increase	$ (567)	$ (519)
Discount rates, impact of 200 basis point increase	(1,134)	(1,038)
Expected credit loss on rates on underlying loans, 10% adverse change	(536)	(551)
Expected credit loss on rates on underlying loans, 20% adverse change	(1,071)	(1,102)
Expected prepayment rates, 10% adverse change	(1,892)	(1,359)
Expected prepayment rates, 20% adverse change	$ (3,785)	$ (2,718)

Goodwill and Intangible Assets - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 75,717,000	$ 75,717,000
Finite-Lived Intangible Assets [Line Items]
Goodwill	75,717,000	75,717,000
Goodwill impairment expense	0	0	$ 0
Amortization expense	3,200,000	3,500,000	4,200,000
Impairment of intangible assets	$ 0	$ 0	$ 0
Customer Relationships \| Minimum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, amortized period	10 years
Customer Relationships \| Maximum
Finite-Lived Intangible Assets [Line Items]
Intangible assets, amortized period	14 years

Structured Program Transactions and Variable Interest Entities

12 Months Ended

Dec. 31, 2025

Transfers and Servicing [Abstract]

Structured Program Transactions and Variable Interest Entities

The Company’s VIEs relate to its Structured Program transactions. As of both December 31, 2025 and 2024, the Company did not consolidate any VIEs. Accordingly, holders of the related securities can look only to the assets of the VIEs that issued the securities and there is no direct recourse to the Company’s assets.

The following table presents the classifications of assets and liabilities on the Company’s Balance Sheet for its transactions with unconsolidated VIEs:


	December 31, 2025		December 31, 2024

Assets

Securities available for sale at fair value	$	3,311,780		$	3,069,771


Other assets	53,660			46,269
Total assets	$	3,365,440		$	3,116,040
Liabilities

Other liabilities	1,023			6,313
Total liabilities	$	1,023		$	6,313
Total net assets (maximum loss exposure)	$	3,364,417		$	3,109,727

Maximum loss exposure represents estimated loss that would be incurred under severe, hypothetical circumstances, for which the Company believes the possibility is extremely remote, such as where the value of interests declines to zero. Accordingly, this required disclosure is not an indication of expected losses.

The following table summarizes activity related to unconsolidated VIEs where the transfers were accounted for as a sale on the Company’s financial statements:


December 31,	2025		2024		2023
Fair value of consideration received:
Cash	$	1,094,285	$	394,205	$	172,397
Net securities retained from Structured Program transactions	1,993,586		2,711,693		1,299,313
Other assets, net	36,302		35,877		16,740
Total consideration	3,124,173		3,141,775		1,488,450
Fair value of loans sold	(3,090,986)		(3,079,628)		(1,474,077)
Sale of senior securities related to Structured Program transactions	—		(30,000)		—
Deconsolidation of debt	—		880		—
Principal derecognized from loans securitized or sold	—		(737)		—
Gain on sales of loans and securities (1)	$	33,187	$	32,290	$	14,373

Cash proceeds from continuing involvement:
Servicing and other administrative fees	$	38,300	$	27,047	$	5,475


Interest received on securities retained from Structured Program transactions	$	203,138	$	164,807	$	22,786

(1) Consists primarily of servicing assets recognized at the time of loan sale, less any transaction costs, and excludes origination fees and fair value adjustments recognized prior to the sale.

As of December 31, 2025, the aggregate unpaid principal balance attributable to off-balance sheet loans held by unconsolidated VIEs was $4.4 billion, of which $64.9 million was 30 days or more past due. As of December 31, 2024, the aggregate unpaid principal balance attributable to off-balance sheet loans held by unconsolidated VIEs was $3.5 billion, of which $44.7 million was 30 days or more past due. For such loans, the Company would only experience a loss if it was required to repurchase a loan due to a breach in representations and warranties associated with its loan sale or servicing contracts.

- Definition

The entire disclosure for a transferor's continuing involvement in financial assets that it has transferred in a securitization or asset-backed financing arrangement, the nature of any restrictions on assets reported by an entity in its statement of financial position that relate to a transferred financial asset (including the carrying amounts of such assets), how servicing assets and servicing liabilities are reported, and (for securitization or asset-backed financing arrangements accounted for as sales) when a transferor has continuing involvement with the transferred financial assets and transfers of financial assets accounted for as secured borrowings, how the transfer of financial assets affects an entity's financial position, financial performance, and cash flows.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480591/815-20-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
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-Section 50
-Paragraph 1A
-Subparagraph (c)(3)
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-URI https://asc.fasb.org/1943274/2147481420/860-30-50-1A

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(11))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)(2)
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-URI https://asc.fasb.org/1943274/2147481420/860-30-50-1A

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
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-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)(7)
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-URI https://asc.fasb.org/1943274/2147481229/860-50-50-4

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481326/860-20-50-4

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 3
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481229/860-50-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
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-URI https://asc.fasb.org/860/tableOfContent

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 860
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-Name Accounting Standards Codification
-Section 50
-Paragraph 3
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Audit Information	12 Months Ended
Audit Information	Dec. 31, 2025
Audit Information [Abstract]
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Location	San Francisco, California
Auditor Firm ID	34

Loans and Leases Held for Investment at Amortized Cost, Net of Allowance for Loan and Lease Losses - Schedule of Amortized Cost of Loan Modifications (Details) - Consumer - Unsecured personal - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Short-term payment reduction
Financing Receivable, Modified [Line Items]
Total loan modifications	$ 17,880	$ 26,421
Permanent loan modification
Financing Receivable, Modified [Line Items]
Total loan modifications	5,985	5,874
Debt settlement
Financing Receivable, Modified [Line Items]
Total loan modifications	3,352	5,631
Current \| Short-term payment reduction
Financing Receivable, Modified [Line Items]
Total loan modifications	14,750	21,471
Current \| Permanent loan modification
Financing Receivable, Modified [Line Items]
Total loan modifications	5,541	5,285
Current \| Debt settlement
Financing Receivable, Modified [Line Items]
Total loan modifications	47	43
30-59 days past due \| Short-term payment reduction
Financing Receivable, Modified [Line Items]
Total loan modifications	1,357	1,851
30-59 days past due \| Permanent loan modification
Financing Receivable, Modified [Line Items]
Total loan modifications	171	247
30-59 days past due \| Debt settlement
Financing Receivable, Modified [Line Items]
Total loan modifications	29	19
60-89 days past due \| Short-term payment reduction
Financing Receivable, Modified [Line Items]
Total loan modifications	894	1,462
60-89 days past due \| Permanent loan modification
Financing Receivable, Modified [Line Items]
Total loan modifications	162	159
60-89 days past due \| Debt settlement
Financing Receivable, Modified [Line Items]
Total loan modifications	585	811
90 or more days past due \| Short-term payment reduction
Financing Receivable, Modified [Line Items]
Total loan modifications	879	1,637
90 or more days past due \| Permanent loan modification
Financing Receivable, Modified [Line Items]
Total loan modifications	111	183
90 or more days past due \| Debt settlement
Financing Receivable, Modified [Line Items]
Total loan modifications	$ 2,691	$ 4,758

Leases (Tables)

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Schedule of Balance Sheet Information Related to Leases

Balance sheet information related to leases was as follows:


ROU Assets and Lease Liabilities	Balance Sheet Classification	December 31, 2025		December 31, 2024
Operating lease assets	Other assets	$	12,942	$	21,304
Operating lease liabilities	Other liabilities	$	15,826	$	28,502

Schedule of Supplemental Cash Flow Information Related to Operating Leases

Supplemental cash flow information related to the Company’s operating leases was as follows:


Year Ended December 31,	2025		2024		2023
Non-cash activity:
Leased assets remeasured resulting from new, amended or modified operating lease liabilities	$	—	$	1,987	$	(29,745)

Schedule of Future Minimum Undiscounted Lease Payments Under Operating Leases

The Company’s future minimum undiscounted lease payments under operating leases as of December 31, 2025 were as follows:


	Operating Lease Payments
2026	$	7,973
2027	5,010
2028	4,046
2029	909
2030	—

Total lease payments	$	17,938
Discount effect	(2,112)
Present value of future minimum lease payments	$	15,826

Schedule of Weighted-Average Remaining Lease Term and Discount Rate

The weighted-average remaining lease term and discount rate used in the calculation of the Company’s operating lease assets and liabilities were as follows:


Lease Term and Discount Rate	December 31, 2025		December 31, 2024
Weighted-average remaining lease term (in years)	2.64		2.98
Weighted-average discount rate	4.56	%	4.87	%

Schedule of Rental Income

Rental income earned from such leases was as follows for the periods presented:


Year Ended December 31,	2025		2024		2023
Rental income (1)	$	7,459	$	—	$	—

(1) Recorded in “Other non-interest income” on the Income Statement.

Schedule of Future Fixed Lease Payments to be Received for Operating Leases

Future fixed lease payments to be received by the Company as of December 31, 2025, under non-cancelable operating leases, were as follows:


2026	$	4,654
2027	3,356
2028	2,460
2029	1,932
2030	1,990
Thereafter	6,215
Total lease payments	$	20,607

Schedule of Sales-Type Leases for Equipment (Equipment Finance)

Interest earned on Equipment Finance was as follows for the periods presented:


Year Ended December 31,	2025		2024		2023
Interest earned (1)	$	2,776	$	5,152	$	8,929

(1) Recorded in “Interest and fees on loans and leases held for investment” on the Income Statement.

The components of Equipment Finance assets are as follows:


December 31,	2025		2024
Lease receivables	$	25,384	$	49,290
Unguaranteed residual asset values	17,907		20,728
Unearned income	(3,690)		(6,125)
Deferred costs	156		339
Total	$	39,757	$	64,232

Schedule of Future Minimum Lease Payments Based on Maturity for Sales-Type Leases

Future minimum lease payments based on maturity of the Company’s sales-type leases as of December 31, 2025 were as follows:


2026	$	13,420
2027	7,469
2028	3,823
2029	1,476
2030	—

Total lease payments	$	26,188
Discount effect	(804)
Present value of future minimum lease payments	$	25,384

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Basic EPS:
Net income	$ 135,677	$ 51,330	$ 38,939
Weighted-average common shares – Basic (in shares)	114,605,220	111,731,523	108,466,179
Basic EPS (in dollars per share)	$ 1.18	$ 0.46	$ 0.36
Diluted EPS:
Net income	$ 135,677	$ 51,330	$ 38,939
Weighted-average common shares – Diluted (in shares)	117,233,815	113,122,859	108,468,857
Diluted EPS (in dollars per share)	$ 1.16	$ 0.45	$ 0.36

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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-Topic 260
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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities, and addition from assumption of issuance of common shares for dilutive potential common shares; of income (loss) available to common shareholders.

+ References + Details

Borrowings - Schedule of Available Borrowing Capacity and Related Pledged Collateral (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Short-Term Debt [Line Items]
Available Borrowing Capacity	$ 3,974,188	$ 3,261,151
Asset Pledged as Collateral
Short-Term Debt [Line Items]
Pledged Collateral	5,107,758	4,075,432
FRB Discount Window \| Asset Pledged as Collateral
Short-Term Debt [Line Items]
Pledged Collateral	4,245,845	3,245,547
FRB Discount Window \| Asset Pledged as Collateral \| Unsecured personal loans
Short-Term Debt [Line Items]
Pledged Collateral		3,200,000
FHLB of Des Moines \| Asset Pledged as Collateral
Short-Term Debt [Line Items]
Pledged Collateral	861,913	829,885
FHLB of Des Moines \| Asset Pledged as Collateral \| Unsecured personal loans
Short-Term Debt [Line Items]
Pledged Collateral		456,400
FHLB of Des Moines \| Asset Pledged as Collateral \| Securities Investment
Short-Term Debt [Line Items]
Pledged Collateral		373,500
FRB Discount Window
Short-Term Debt [Line Items]
Available Borrowing Capacity	3,294,827	2,635,034
FRB Discount Window \| FRB Discount Window \| Asset Pledged as Collateral \| Unsecured personal loans
Short-Term Debt [Line Items]
Pledged Collateral	4,200,000
FHLB of Des Moines
Short-Term Debt [Line Items]
Available Borrowing Capacity	679,361	$ 626,117
FHLB of Des Moines \| FHLB of Des Moines \| Asset Pledged as Collateral \| Unsecured personal loans
Short-Term Debt [Line Items]
Pledged Collateral	486,200
FHLB of Des Moines \| FHLB of Des Moines \| Asset Pledged as Collateral \| Securities Investment
Short-Term Debt [Line Items]
Pledged Collateral	$ 375,700

Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Assets
Loans held for sale at fair value	$ 1,762,396	$ 636,352
Loans held for investment at fair value	473,314	1,027,798
Securities available for sale:
Total securities available for sale	3,706,709	3,452,648
Servicing assets	65,167	60,697	$ 77,680
Other assets	2,099	5,820
Total assets	6,009,685	5,183,315
Liabilities
Other liabilities	5,783	16,818
Total liabilities	5,783	16,818
Senior asset-backed securities related to Structured Program transactions
Securities available for sale:
Total securities available for sale	3,092,410	2,899,824
U.S. agency residential mortgage-backed securities
Securities available for sale:
Total securities available for sale	236,061	226,925
Other asset-backed securities related to Structured Program transactions
Securities available for sale:
Total securities available for sale	219,370	169,948
U.S. agency securities
Securities available for sale:
Total securities available for sale	73,862	75,946
Mortgage-backed securities
Securities available for sale:
Total securities available for sale	55,597	56,674
Municipal securities
Securities available for sale:
Total securities available for sale	2,606	2,539
Other securities
Securities available for sale:
Total securities available for sale	26,803	20,792
Level 1
Assets
Loans held for sale at fair value	0	0
Loans held for investment at fair value	0	0
Securities available for sale:
Total securities available for sale	0	0
Servicing assets	0	0
Other assets	0	0
Total assets	0	0
Liabilities
Other liabilities	0	0
Total liabilities	0	0
Level 1 \| Senior asset-backed securities related to Structured Program transactions
Securities available for sale:
Total securities available for sale	0	0
Level 1 \| U.S. agency residential mortgage-backed securities
Securities available for sale:
Total securities available for sale	0	0
Level 1 \| Other asset-backed securities related to Structured Program transactions
Securities available for sale:
Total securities available for sale	0	0
Level 1 \| U.S. agency securities
Securities available for sale:
Total securities available for sale	0	0
Level 1 \| Mortgage-backed securities
Securities available for sale:
Total securities available for sale	0	0
Level 1 \| Municipal securities
Securities available for sale:
Total securities available for sale	0	0
Level 1 \| Other securities
Securities available for sale:
Total securities available for sale	0	0
Level 2
Assets
Loans held for sale at fair value	0	0
Loans held for investment at fair value	0	0
Securities available for sale:
Total securities available for sale	384,846	382,876
Servicing assets	0	0
Other assets	2,099	5,820
Total assets	386,945	388,696
Liabilities
Other liabilities	3,918	5,019
Total liabilities	3,918	5,019
Level 2 \| Senior asset-backed securities related to Structured Program transactions
Securities available for sale:
Total securities available for sale	0	0
Level 2 \| U.S. agency residential mortgage-backed securities
Securities available for sale:
Total securities available for sale	236,061	226,925
Level 2 \| Other asset-backed securities related to Structured Program transactions
Securities available for sale:
Total securities available for sale	0	0
Level 2 \| U.S. agency securities
Securities available for sale:
Total securities available for sale	73,862	75,946
Level 2 \| Mortgage-backed securities
Securities available for sale:
Total securities available for sale	55,597	56,674
Level 2 \| Municipal securities
Securities available for sale:
Total securities available for sale	2,606	2,539
Level 2 \| Other securities
Securities available for sale:
Total securities available for sale	16,720	20,792
Level 3
Assets
Loans held for sale at fair value	1,762,396	636,352
Loans held for investment at fair value	473,314	1,027,798
Securities available for sale:
Total securities available for sale	3,321,863	3,069,772
Servicing assets	65,167	60,697
Other assets	0	0
Total assets	5,622,740	4,794,619
Liabilities
Other liabilities	1,865	11,799
Total liabilities	1,865	11,799
Level 3 \| Senior asset-backed securities related to Structured Program transactions
Securities available for sale:
Total securities available for sale	3,092,410	2,899,824
Level 3 \| U.S. agency residential mortgage-backed securities
Securities available for sale:
Total securities available for sale	0	0
Level 3 \| Other asset-backed securities related to Structured Program transactions
Securities available for sale:
Total securities available for sale	219,370	169,948
Level 3 \| U.S. agency securities
Securities available for sale:
Total securities available for sale	0	0
Level 3 \| Mortgage-backed securities
Securities available for sale:
Total securities available for sale	0	0
Level 3 \| Municipal securities
Securities available for sale:
Total securities available for sale	0	0
Level 3 \| Other securities
Securities available for sale:
Total securities available for sale	$ 10,083	$ 0

Borrowings (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Schedule of Borrowings

The following table summarizes the Company’s available borrowing capacity and the related pledged collateral:


	December 31, 2025				December 31, 2024
	Available Borrowing Capacity		Pledged Collateral (1)		Available Borrowing Capacity		Pledged Collateral (2)
FRB Discount Window	$	3,294,827	$	4,245,845	$	2,635,034	$	3,245,547
FHLB of Des Moines	679,361		861,913		626,117		829,885
Total	$	3,974,188	$	5,107,758	$	3,261,151	$	4,075,432

Earnings Per Share

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Earnings Per Share

The following table details the computation of the Company’s basic and diluted EPS:


Year Ended December 31,	2025		2024			2023

Basic EPS:


Net income	$	135,677		$	51,330		$	38,939
Weighted-average common shares – Basic	114,605,220			111,731,523			108,466,179
Basic EPS	$	1.18		$	0.46		$	0.36

Diluted EPS:


Net income	$	135,677		$	51,330		$	38,939
Weighted-average common shares – Diluted	117,233,815			113,122,859			108,468,857
Diluted EPS	$	1.16		$	0.45		$	0.36

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Statement of Cash Flows [Abstract]
Cash and cash equivalents	$ 917,654	$ 954,058
Restricted cash	12,783	23,338
Total cash, cash equivalents and restricted cash	$ 930,437	$ 977,396	$ 1,294,148	$ 1,124,484

Structured Program Transactions and Variable Interest Entities - Narrative (Details) - Off-Balance Sheet Loans - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Outstanding principal balance	$ 4,400.0	$ 3,500.0
Off-balance sheet loans, principal amount outstanding, 31 days or more past due	$ 64.9	$ 44.7

Deposits

12 Months Ended

Dec. 31, 2025

Other Liabilities Disclosure [Abstract]

Deposits

Deposits consist of the following:


December 31,	2025		2024
Interest-bearing deposits:
Savings and money market accounts	$	6,599,737	$	5,903,869
Certificates of deposit	2,434,422		2,294,214
Checking accounts	425,324		478,036
Total	9,459,483		8,676,119
Noninterest-bearing deposits	374,387		392,118
Total deposits	$	9,833,870	$	9,068,237

Total certificates of deposit at December 31, 2025 are scheduled to mature as follows:


2026	$	2,389,994
2027	29,895
2028	2,953
2029	10,341
2030	1,239

Total certificates of deposit (1)	$	2,434,422

(1) Certificates of deposit in excess of the FDIC insurance limit of $250 thousand per account holder totaled $116.6 million at December 31, 2025.

Other Assets (Tables)

12 Months Ended

Dec. 31, 2025

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Assets

Other assets consist of the following:


December 31,	2025		2024
Deferred tax assets, net (1)	$	96,159	$	137,155
Servicing assets (2)	65,326		61,020
Nonmarketable equity investments	48,462		44,114
Accrued interest receivable	43,918		40,388
Operating lease assets	12,942		21,304
Intangible assets, net (3)	7,419		8,586



Other	93,860		91,415
Total other assets	$	368,086	$	403,982

(1) See “Note 16. Income Taxes” for additional detail.

(2) Loans underlying servicing assets had a total outstanding principal balance of $7.6 billion and $7.3 billion as of December 31, 2025 and 2024, respectively.

(3) See “Note 10. Goodwill and Intangible Assets” for additional detail.

Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2025

Other Liabilities [Abstract]

Schedule of Other Liabilities

Other liabilities consist of the following:


December 31,	2025		2024
Accounts payable and accrued expenses	$	87,341	$	78,131
Due to borrowers (1)	60,254		24,449
Operating lease liabilities	15,826		28,502
Payable to investors (2)	11,926		22,833



Other	58,171		66,626


Total other liabilities	$	233,518	$	220,541

(1) Represents originated loans for which disbursement of funds is pending to borrowers.

(2) Represents principal and interest on loans collected by the Company and pending disbursement to investors.

Loans and Leases Held for Investment at Amortized Cost, Net of Allowance for Loan and Lease Losses - Schedule of Total Amount of Charge-Offs for Loan Modifications (Details) - Consumer - Unsecured personal - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Modified [Line Items]
Total loan modifications – unsecured personal loans	$ 49,327	$ 82,926	$ 53,643
Short-term payment reduction
Financing Receivable, Modified [Line Items]
Total loan modifications – unsecured personal loans	9,229	7,945	224
Permanent loan modification
Financing Receivable, Modified [Line Items]
Total loan modifications – unsecured personal loans	1,542	2,136	308
Debt settlement
Financing Receivable, Modified [Line Items]
Total loan modifications – unsecured personal loans	$ 38,556	$ 72,845	$ 53,111

Fair Value Measurements - Schedule of Financial Instruments Not Recorded at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Assets
Loans and leases held for investment, net	$ 473,314	$ 1,027,798
Other assets	2,099	5,820
Total assets	6,009,685	5,183,315
Liabilities
Other liabilities	5,783	16,818
Total liabilities	5,783	16,818
Level 1
Assets
Loans and leases held for investment, net	0	0
Other assets	0	0
Total assets	0	0
Liabilities
Other liabilities	0	0
Total liabilities	0	0
Level 2
Assets
Loans and leases held for investment, net	0	0
Other assets	2,099	5,820
Total assets	386,945	388,696
Liabilities
Other liabilities	3,918	5,019
Total liabilities	3,918	5,019
Level 3
Assets
Loans and leases held for investment, net	473,314	1,027,798
Other assets	0	0
Total assets	5,622,740	4,794,619
Liabilities
Other liabilities	1,865	11,799
Total liabilities	1,865	11,799
Carrying Amount
Assets
Loans and leases held for investment, net	3,997,069	3,889,084
Other assets	47,470	40,466
Total assets	4,044,539	3,929,550
Liabilities
Deposits	2,434,422	2,294,214
Other liabilities	40,931	44,801
Total liabilities	2,475,353	2,339,015
Balance at Fair Value
Assets
Loans and leases held for investment, net	4,251,852	4,051,497
Other assets	47,765	40,804
Total assets	4,299,617	4,092,301
Liabilities
Deposits	2,437,209	2,306,373
Other liabilities	40,931	44,801
Total liabilities	2,478,140	2,351,174
Balance at Fair Value \| Level 1
Assets
Loans and leases held for investment, net	0	0
Other assets	0	0
Total assets	0	0
Liabilities
Deposits	0	0
Other liabilities	0	0
Total liabilities	0	0
Balance at Fair Value \| Level 2
Assets
Loans and leases held for investment, net	0	0
Other assets	47,312	40,143
Total assets	47,312	40,143
Liabilities
Deposits	0	0
Other liabilities	11,926	22,833
Total liabilities	11,926	22,833
Balance at Fair Value \| Level 3
Assets
Loans and leases held for investment, net	4,251,852	4,051,497
Other assets	453	661
Total assets	4,252,305	4,052,158
Liabilities
Deposits	2,437,209	2,306,373
Other liabilities	29,005	21,968
Total liabilities	$ 2,466,214	$ 2,328,341

Consolidated Statements of Changes in Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Accumulated Deficit
Common stock, beginning balance (in shares) at Dec. 31, 2022		106,546,995
Beginning balance at Dec. 31, 2022	$ 1,164,294	$ 1,065	$ 1,628,590	$ (37,616)	$ (427,745)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	61,619		61,619
Net issuances under equity incentive plans (in shares)		3,863,607
Net issuances under equity incentive plans	(20,342)	$ 39	(20,381)
Net unrealized (loss) gain on securities available for sale, net of tax	7,312			7,312
Net income	38,939				38,939
Common stock, ending balance (in shares) at Dec. 31, 2023		110,410,602
Ending balance at Dec. 31, 2023	1,251,822	$ 1,104	1,669,828	(30,304)	(388,806)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	47,117		47,117
Net issuances under equity incentive plans (in shares)		2,973,315
Net issuances under equity incentive plans	(14,599)	$ 30	(14,629)
Net unrealized (loss) gain on securities available for sale, net of tax	6,061			6,061
Net income	$ 51,330				51,330
Common stock, ending balance (in shares) at Dec. 31, 2024	113,383,917	113,383,917
Ending balance at Dec. 31, 2024	$ 1,341,731	$ 1,134	1,702,316	(24,243)	(337,476)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation	39,079		39,079
Net issuances under equity incentive plans (in shares)		2,374,694
Net issuances under equity incentive plans	(15,010)	$ 24	(15,034)
Share repurchases (in shares)		(389,624)
Share repurchases	(7,132)	$ (4)	(7,128)
Net unrealized (loss) gain on securities available for sale, net of tax	6,083			6,083
Net income	$ 135,677				135,677
Common stock, ending balance (in shares) at Dec. 31, 2025	115,368,987	115,368,987
Ending balance at Dec. 31, 2025	$ 1,500,428	$ 1,154	$ 1,719,233	$ (18,160)	$ (201,799)

Derivative Instruments and Hedging Activities - Schedule of Cumulative Basis Adjustments for Fair Value Hedges (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Loans and leases held for investment
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Carrying Amount of Closed Portfolio	$ 1,283,622	$ 1,388,222
Cumulative Fair Value Adjustment Included in the Carrying Amount of the Hedged Items	1,597	1,872
Hedged layer of loans with a carrying amount	575,000	1,075,000
Securities available for sale
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Carrying Amount of Closed Portfolio	1,091,921	2,255,848
Cumulative Fair Value Adjustment Included in the Carrying Amount of the Hedged Items	727	(2,197)
Hedged layer of loans with a carrying amount	$ 475,000	$ 225,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Insider Trading Arrangements

3 Months Ended

Dec. 31, 2025

Trading Arrangements, by Individual

Non-Rule 10b5-1 Arrangement Adopted

false

Rule 10b5-1 Arrangement Terminated

false

Non-Rule 10b5-1 Arrangement Terminated

false

Fergal Stack [Member]

Trading Arrangements, by Individual

Material Terms of Trading Arrangement

The following table shows the trading arrangements intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) adopted by the Company’s directors and executive officers during the fourth quarter of 2025:

Name and Title

Adoption Date

Expiration Date

Aggregate Number of Shares to be Sold

Fergal Stack, Principal Accounting Officer

November 13, 2025

May 13, 2026

Up to 115,000

Name

Fergal Stack

Title

Principal Accounting Officer

Rule 10b5-1 Arrangement Adopted

true

November 13, 2025

May 13, 2026

181 days

115,000

Leases - Schedule of Interest Earned on Equipment Finance (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Interest earned	$ 2,776	$ 5,152	$ 8,929

Equity - Schedule of Shares of Common Stock Reserved for Future Issuance (Details) - shares	Dec. 31, 2025	Dec. 31, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total reserved for future issuance (in shares)	35,403,752	37,778,446
Restricted Stock Units, Performance-based Restricted Stock Units, Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Available for grant (in shares)	20,915,498	21,815,259
Unvested RSUs, PBRSUs and stock options outstanding (in shares)	5,806,751	7,281,684
Available for ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Available for grant (in shares)	8,681,503	8,681,503

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Securities Available for Sale - Narrative (Details) - Senior asset-backed securities related to Structured Program transactions - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Schedule of Securities Available-for-Sale [Line Items]
Proceeds from sale of AFS	$ 0	$ 30,100	$ 0
Gross realized gain from sale of AFS securities		$ 114

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (aa)
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-Section 50
-Paragraph 2
-Subparagraph (aaa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-Name Accounting Standards Codification
-Section 50
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-Subparagraph (c)
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
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-Section 50
-Paragraph 2
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

Property, Equipment and Software, Net - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Impairment expense on internally-developed software	$ 0.0	$ 5.5	$ 0.0
Property, Equipment and Software
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 59.7	$ 49.8	$ 43.0

- Definition

The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.

+ References + Details

Securities Available for Sale - Schedule of AFS Securities with Unrealized Losses, Aggregated by Period of Continuous Unrealized Loss (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Schedule of Securities Available-for-Sale [Line Items]
Fair value, less than 12 months	$ 118,995	$ 464,591
Unrealized losses, less than 12 months	(1,315)	(2,404)
Fair value, 12 months or longer	327,048	307,856
Unrealized losses, 12 months or longer	(48,900)	(64,154)
Fair Value	446,043	772,447
Unrealized Losses	(50,215)	(66,558)
Senior asset-backed securities related to Structured Program transactions
Schedule of Securities Available-for-Sale [Line Items]
Fair value, less than 12 months		334,564
Unrealized losses, less than 12 months		(645)
Fair value, 12 months or longer		0
Unrealized losses, 12 months or longer		0
Fair Value		334,564
Unrealized Losses		(645)
U.S. agency residential mortgage-backed securities
Schedule of Securities Available-for-Sale [Line Items]
Fair value, less than 12 months	20,017	34,168
Unrealized losses, less than 12 months	(266)	(782)
Fair value, 12 months or longer	181,150	185,405
Unrealized losses, 12 months or longer	(32,030)	(42,461)
Fair Value	201,167	219,573
Unrealized Losses	(32,296)	(43,243)
Other asset-backed securities related to Structured Program transactions
Schedule of Securities Available-for-Sale [Line Items]
Fair value, less than 12 months	95,494	72,251
Unrealized losses, less than 12 months	(1,034)	(657)
Fair value, 12 months or longer	23,719	0
Unrealized losses, 12 months or longer	(333)	0
Fair Value	119,213	72,251
Unrealized Losses	(1,367)	(657)
U.S. agency securities
Schedule of Securities Available-for-Sale [Line Items]
Fair value, less than 12 months	0	0
Unrealized losses, less than 12 months	0	0
Fair value, 12 months or longer	73,862	75,946
Unrealized losses, 12 months or longer	(10,602)	(14,513)
Fair Value	73,862	75,946
Unrealized Losses	(10,602)	(14,513)
Mortgage-backed securities
Schedule of Securities Available-for-Sale [Line Items]
Fair value, less than 12 months	1,874	21,970
Unrealized losses, less than 12 months	(5)	(316)
Fair value, 12 months or longer	36,167	32,298
Unrealized losses, 12 months or longer	(4,956)	(5,900)
Fair Value	38,041	54,268
Unrealized Losses	(4,961)	(6,216)
Municipal securities
Schedule of Securities Available-for-Sale [Line Items]
Fair value, less than 12 months	0	0
Unrealized losses, less than 12 months	0	0
Fair value, 12 months or longer	2,606	2,539
Unrealized losses, 12 months or longer	(609)	(697)
Fair Value	2,606	2,539
Unrealized Losses	(609)	(697)
Other securities
Schedule of Securities Available-for-Sale [Line Items]
Fair value, less than 12 months	1,610	1,638
Unrealized losses, less than 12 months	(10)	(4)
Fair value, 12 months or longer	9,544	11,668
Unrealized losses, 12 months or longer	(370)	(583)
Fair Value	11,154	13,306
Unrealized Losses	$ (380)	$ (587)

Other Assets

12 Months Ended

Dec. 31, 2025

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets

Other assets consist of the following:


December 31,	2025		2024
Deferred tax assets, net (1)	$	96,159	$	137,155
Servicing assets (2)	65,326		61,020
Nonmarketable equity investments	48,462		44,114
Accrued interest receivable	43,918		40,388
Operating lease assets	12,942		21,304
Intangible assets, net (3)	7,419		8,586



Other	93,860		91,415
Total other assets	$	368,086	$	403,982

(1) See “Note 16. Income Taxes” for additional detail.

(2) Loans underlying servicing assets had a total outstanding principal balance of $7.6 billion and $7.3 billion as of December 31, 2025 and 2024, respectively.

(3) See “Note 10. Goodwill and Intangible Assets” for additional detail.

Securities Available for Sale - Schedule of Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of AFS Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 3,733,780	$ 3,492,264
Gross Unrealized Gains	27,237	30,469
Gross Unrealized Losses	(50,215)	(66,558)
Allowance for Credit Losses	(4,093)	(3,527)
Fair Value	3,706,709	3,452,648
Senior asset-backed securities related to Structured Program transactions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,065,885	2,870,071
Gross Unrealized Gains	26,525	30,398
Gross Unrealized Losses	0	(645)
Allowance for Credit Losses	0	0
Fair Value	3,092,410	2,899,824
Portfolio layer method basis adjustment - increase (decrease)	700	(2,200)
U.S. agency residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	267,853	270,120
Gross Unrealized Gains	504	48
Gross Unrealized Losses	(32,296)	(43,243)
Allowance for Credit Losses	0	0
Fair Value	236,061	226,925
Other asset-backed securities related to Structured Program transactions
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	224,802	174,132
Gross Unrealized Gains	28	0
Gross Unrealized Losses	(1,367)	(657)
Allowance for Credit Losses	(4,093)	(3,527)	$ 0
Fair Value	219,370	169,948
Restricted investments	200,000	169,900
U.S. agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	84,464	90,459
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(10,602)	(14,513)
Allowance for Credit Losses	0	0
Fair Value	73,862	75,946
Mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	60,423	62,882
Gross Unrealized Gains	135	8
Gross Unrealized Losses	(4,961)	(6,216)
Allowance for Credit Losses	0	0
Fair Value	55,597	56,674
Municipal securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,215	3,236
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(609)	(697)
Allowance for Credit Losses	0	0
Fair Value	2,606	2,539
Other securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	27,138	21,364
Gross Unrealized Gains	45	15
Gross Unrealized Losses	(380)	(587)
Allowance for Credit Losses	0	0
Fair Value	$ 26,803	$ 20,792

Loans and Leases Held for Investment at Amortized Cost, Net of Allowance for Loan and Lease Losses (Tables)

12 Months Ended

Dec. 31, 2025

Receivables [Abstract]

Schedule of Loans and Leases Held for Investment at Amortized Cost and Components of the Allowance for Loan and Lease Losses and Components of Portfolio Segment Receivables

The following table presents the components of each portfolio segment by class of financing receivable:


	December 31, 2025		December 31, 2024
Unsecured personal	$	3,191,430	$	3,106,472
Residential mortgages	151,073		172,711
Secured consumer	261,045		230,232

Total consumer loans held for investment	3,603,548		3,509,415
Equipment finance (1)	39,757		64,232
Commercial real estate (2)	472,489		373,785
Commercial and industrial	157,018		178,386
Total commercial loans and leases held for investment	669,264		616,403
Total loans and leases held for investment	4,272,812		4,125,818
Allowance for loan and lease losses	(275,743)		(236,734)
Loans and leases held for investment, net (2)	$	3,997,069	$	3,889,084

(1) Comprised of sales-type leases for equipment. See “Note 17. Leases” for additional information.

(2) Includes $286.8 million and $160.1 million in loans originated through the Small Business Association (SBA) as of December 31, 2025 and 2024, respectively.

The following table presents the components of the ALLL:


	December 31, 2025		December 31, 2024
Gross allowance for loan and lease losses (1)	$	312,667	$	285,686
Recovery asset value (2)	(36,924)		(48,952)
Allowance for loan and lease losses	$	275,743	$	236,734

(1) Represents the allowance for future estimated net charge-offs on existing portfolio balances.

(2) Represents the negative allowance for expected recoveries of amounts previously charged-off.


December 31, 2025	Consumer			Commercial			Total
Loans and leases held for investment	$	3,603,548		$	669,264		$	4,272,812

Allowance for loan and lease losses	$	258,811		$	16,932		$	275,743
Allowance ratio (1)	7.2		%	2.5		%	6.5		%

Gross allowance for loan and lease losses	$	295,735		$	16,932		$	312,667
Gross allowance ratio (1)	8.2		%	2.5		%	7.3		%


December 31, 2024	Consumer			Commercial			Total
Loans and leases held for investment	$	3,509,415		$	616,403		$	4,125,818

Allowance for loan and lease losses	$	212,598		$	24,136		$	236,734
Allowance ratio (1)	6.1		%	3.9		%	5.7		%

Gross allowance for loan and lease losses	$	261,550		$	24,136		$	285,686
Gross allowance ratio (1)	7.5		%	3.9		%	6.9		%

(1) Calculated as ALLL or gross ALLL, where applicable, to the corresponding portfolio segment balance of loans and leases held for investment at amortized cost.

The following table summarizes the aggregate fair value of the Company’s HFS loans, as well as the amount that was 90 days or more past due:


	December 31, 2025				December 31, 2024
	Total		90 or more days past due		Total		90 or more days past due
Aggregate unpaid principal balance	$	1,795,818	$	3,931	$	657,984	$	3,719
Cumulative fair value adjustments	(33,422)		(3,176)		(21,632)		(3,012)
Fair value of loans held for sale	$	1,762,396	$	755	$	636,352	$	707

The following table summarizes the aggregate fair value of the Company’s HFI loans at fair value, as well as the amount that was 90 days or more past due:


	December 31, 2025				December 31, 2024
	Total		90 or more days past due		Total		90 or more days past due
Aggregate unpaid principal balance	$	495,649	$	5,177	$	1,097,511	$	14,616
Cumulative fair value adjustments	(22,335)		(4,183)		(69,713)		(11,836)
Fair value of loans held for investment	$	473,314	$	994	$	1,027,798	$	2,780

Schedule of Activity in the ACL by Portfolio Segment

The activity in the ACL by portfolio segment was as follows:


	Year Ended December 31,
	2025						2024						2023
	Consumer		Commercial		Total		Consumer		Commercial		Total		Consumer		Commercial		Total
Allowance for loan and lease losses:
Beginning of period	$	212,598	$	24,136	$	236,734	$	298,061	$	12,326	$	310,387	$	312,489	$	15,363	$	327,852
Credit loss expense (benefit)	190,031		897		190,928		160,581		14,849		175,430		244,518		(948)		243,570

Charge-offs (1)	(209,742)		(9,132)		(218,874)		(299,159)		(4,434)		(303,593)		(278,105)		(3,002)		(281,107)
Recoveries	65,924		1,031		66,955		53,115		1,395		54,510		19,159		913		20,072
End of period	$	258,811	$	16,932	$	275,743	$	212,598	$	24,136	$	236,734	$	298,061	$	12,326	$	310,387

Reserve for unfunded lending commitments:
Beginning of period	$	—	$	1,183	$	1,183	$	—	$	1,873	$	1,873	$	18	$	1,860	$	1,878
Credit loss (benefit) expense	—		(174)		(174)		—		(690)		(690)		(18)		13		(5)
End of period (2)	$	—	$	1,009	$	1,009	$	—	$	1,183	$	1,183	$	—	$	1,873	$	1,873

(2) Relates to $52.0 million, $105.0 million and $78.1 million of unfunded commitments as of December 31, 2025, 2024 and 2023, respectively.

Schedule of Charge-Offs by Origination Year and Consumer Lending Credit Quality Indicators and Commercial Lending Credit Quality Indicators

The following table presents charge-offs by origination year for the year ended December 31, 2025:


	Gross Charge-Offs by Origination Year
	2025		2024		2023		2022		2021		Prior		Total
Unsecured personal (1)	$	17,391	$	55,604	$	61,022	$	59,685	$	13,737	$	—	$	207,439
Residential mortgages	—		—		—		—		—		—		—
Secured consumer	148		409		1,029		553		164		—		2,303






Total consumer loans held for investment	17,539		56,013		62,051		60,238		13,901		—		209,742
Equipment finance	—		—		—		—		—		—		—
Commercial real estate	—		—		—		—		—		8,597		8,597
Commercial and industrial	—		172		—		330		33		—		535
Total commercial loans and leases held for investment	—		172		—		330		33		8,597		9,132

Total loans and leases held for investment	$	17,539	$	56,185	$	62,051	$	60,568	$	13,934	$	8,597	$	218,874

(1) Unsecured personal loans are generally charged-off when a borrower is contractually 120 days past due.

The following tables present the classes of financing receivables within the consumer portfolio segment by credit quality indicator based on delinquency status and origination year:


December 31, 2025	Term Loans and Leases by Origination Year
	2025		2024		2023		2022		2021		Prior		Total
Unsecured personal
Current	$	1,741,108	$	740,483	$	326,147	$	283,513	$	39,605	$	—	$	3,130,856
30-59 days past due	9,084		5,680		3,533		3,591		603		—		22,491
60-89 days past due	6,500		5,447		2,887		3,051		665		—		18,550
90 or more days past due	4,862		6,049		3,105		3,223		697		—		17,936
Total unsecured personal (1)	1,761,554		757,659		335,672		293,378		41,570		—		3,189,833
Residential mortgages
Current	—		—		—		40,931		50,129		59,039		150,099
30-59 days past due	—		—		—		—		—		—		—
60-89 days past due	—		—		—		—		—		888		888
90 or more days past due	—		—		—		—		—		86		86
Total residential mortgages	—		—		—		40,931		50,129		60,013		151,073
Secured consumer
Current	134,255		47,453		42,332		26,961		3,769		2,278		257,048
30-59 days past due	778		261		816		941		210		—		3,006
60-89 days past due	131		128		109		177		51		—		596
90 or more days past due	78		31		133		153		—		—		395
Total secured consumer	135,242		47,873		43,390		28,232		4,030		2,278		261,045






Total consumer loans held for investment	$	1,896,796	$	805,532	$	379,062	$	362,541	$	95,729	$	62,291	$	3,601,951


December 31, 2024	Term Loans and Leases by Origination Year
	2024		2023		2022		2021		2020		Prior		Total
Unsecured personal
Current	$	1,347,685	$	787,936	$	762,223	$	142,546	$	—	$	—	$	3,040,390
30-59 days past due	4,981		7,344		8,952		2,253		—		—		23,530
60-89 days past due	2,448		6,933		7,920		1,992		—		—		19,293
90 or more days past due	2,364		7,920		8,853		2,250		—		—		21,387
Total unsecured personal (1)	1,357,478		810,133		787,948		149,041		—		—		3,104,600
Residential mortgages
Current	—		—		45,828		52,679		28,176		45,789		172,472
30-59 days past due	—		—		—		—		—		151		151
60-89 days past due	—		—		—		—		—		88		88
90 or more days past due	—		—		—		—		—		—		—
Total residential mortgages	—		—		45,828		52,679		28,176		46,028		172,711
Secured consumer
Current	79,161		78,081		56,766		10,573		—		2,372		226,953
30-59 days past due	98		824		1,199		221		—		—		2,342
60-89 days past due	11		147		338		104		—		—		600
90 or more days past due	36		157		99		45		—		—		337
Total secured consumer	79,306		79,209		58,402		10,943		—		2,372		230,232






Total consumer loans held for investment	$	1,436,784	$	889,342	$	892,178	$	212,663	$	28,176	$	48,400	$	3,507,543

The following tables present the classes of financing receivables within the commercial portfolio segment by risk rating and origination year:


December 31, 2025	Term Loans and Leases by Origination Year
	2025		2024		2023		2022		2021		Prior		Total		Guaranteed Amount (1)
Equipment finance
Pass	$	—	$	—	$	—	$	21,283	$	1,990	$	9,762	$	33,035	$	—
Special mention	—		—		—		2,587		227		—		2,814		—
Substandard	—		—		—		—		3,212		—		3,212		—
Doubtful	—		—		—		696		—		—		696		—
Loss	—		—		—		—		—		—		—		—
Total equipment finance	—		—		—		24,566		5,429		9,762		39,757		—
Commercial real estate
Pass	95,736		36,356		63,750		94,771		32,452		121,231		444,296		30,959
Special mention	—		—		—		—		—		6,088		6,088		—
Substandard	—		—		—		428		8,433		11,370		20,231		7,005
Doubtful	—		—		—		—		—		61		61		—
Loss	—		—		—		1,121		271		421		1,813		1,543
Total commercial real estate	95,736		36,356		63,750		96,320		41,156		139,171		472,489		39,507
Commercial and industrial
Pass	21,987		28,942		16,580		18,108		19,441		7,879		112,937		75,216
Special mention	—		—		—		8,535		2,959		67		11,561		9,264
Substandard	—		1,438		8,275		5,153		3,126		3,010		21,002		13,790
Doubtful	—		—		—		3,456		1,348		511		5,315		4,353
Loss	—		751		1,766		3,686		—		—		6,203		6,203
Total commercial and industrial	21,987		31,131		26,621		38,938		26,874		11,467		157,018		108,826
Total commercial loans and leases held for investment	$	117,723	$	67,487	$	90,371	$	159,824	$	73,459	$	160,400	$	669,264	$	148,333

(1) Represents loan balances guaranteed by the SBA.


December 31, 2024	Term Loans and Leases by Origination Year
	2024		2023		2022		2021		2020		Prior		Total		Guaranteed Amount (1)
Equipment finance
Pass	$	—	$	1,519	$	32,544	$	7,790	$	9,101	$	6,643	$	57,597	$	—
Special mention	—		—		335		602		—		—		937		—
Substandard	—		—		776		4,922		—		—		5,698		—
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total equipment finance	—		1,519		33,655		13,314		9,101		6,643		64,232		—
Commercial real estate
Pass	22,847		67,692		89,903		21,174		27,947		106,060		335,623		31,499
Special mention	—		—		—		—		252		6,276		6,528		—
Substandard	—		—		2,430		8,441		7,987		10,791		29,649		8,940
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		1,121		271		—		593		1,985		1,543
Total commercial real estate	22,847		67,692		93,454		29,886		36,186		123,720		373,785		41,982
Commercial and industrial
Pass	28,030		29,186		31,697		27,474		5,503		12,678		134,568		85,269
Special mention	635		—		5,165		2,652		76		—		8,528		7,065
Substandard	—		4,071		13,110		2,311		1,399		1,670		22,561		14,879
Doubtful	—		—		3,279		1,477		506		285		5,547		4,671
Loss	282		2,094		4,224		568		—		14		7,182		7,182
Total commercial and industrial	28,947		35,351		57,475		34,482		7,484		14,647		178,386		119,066
Total commercial loans and leases held for investment	$	51,794	$	104,562	$	184,584	$	77,682	$	52,771	$	145,010	$	616,403	$	161,048

(1) Represents loan balances guaranteed by the SBA.

Schedule of Analysis of the Past Due Loans and Leases HFI at Amortized Cost and Nonaccrual Loans and Leases

The following tables present an analysis of the past due loans and leases HFI at amortized cost within the commercial portfolio segment:


December 31, 2025	30-59 Days		60-89 Days		90 or More Days		Total Days Past Due		Guaranteed Amount (1)
Equipment finance	$	696	$	—	$	3,088	$	3,784	$	—
Commercial real estate	—		—		11,182		11,182		8,231
Commercial and industrial	1,540		1,878		20,074		23,492		14,930
Total commercial loans and leases held for investment	$	2,236	$	1,878	$	34,344	$	38,458	$	23,161


December 31, 2024	30-59 Days		60-89 Days		90 or More Days		Total Days Past Due		Guaranteed Amount (1)
Equipment finance	$	67	$	—	$	4,551	$	4,618	$	—
Commercial real estate	8,320		483		9,731		18,534		8,456
Commercial and industrial	6,257		1,182		15,971		23,410		18,512
Total commercial loans and leases held for investment	$	14,644	$	1,665	$	30,253	$	46,562	$	26,968

(1) Represents loan balances guaranteed by the SBA.

The following table presents nonaccrual loans and leases:


Year Ended December 31,	2025				2024
	Nonaccrual		Nonaccrual with no related ACL(1)		Nonaccrual		Nonaccrual with no related ACL(1)
Unsecured personal	$	17,936	$	—	$	21,387	$	—
Residential mortgages	431		431		295		295
Secured consumer	395		—		337		—

Total nonaccrual consumer loans held for investment	18,762		431		22,019		295

Equipment finance	3,088		—		4,516		—
Commercial real estate	11,253		5,799		18,280		5,345
Commercial and industrial	27,329		10,137		27,489		7,501
Total nonaccrual commercial loans and leases held for investment (2)	41,670		15,936		50,285		12,846

Total nonaccrual loans and leases held for investment	$	60,432	$	16,367	$	72,304	$	13,141

(1) Subset of total nonaccrual loans and leases.

(2) Includes $29.7 million and $31.2 million in loan balances guaranteed by the SBA as of December 31, 2025 and 2024, respectively.


Year Ended December 31,	2025				2024
	Nonaccrual		Nonaccrual Ratios (1)		Nonaccrual		Nonaccrual Ratios (1)
Total nonaccrual consumer loans held for investment	$	18,762	0.5	%	$	22,019	0.6	%
Total nonaccrual commercial loans and leases held for investment	41,670		6.2	%	50,285		8.2	%
Total nonaccrual loans and leases held for investment	$	60,432	1.4	%	$	72,304	1.8	%

(1) Calculated as the ratio of non-accruing loans and leases to loans and leases HFI at amortized cost.

Schedule of Loan Modifications and Amortized Cost of Loan Modifications

The table below presents the amortized cost of loans that were modified during the periods presented, by modification type:


Year Ended December 31,	2025			2024			2023
Short-term payment reduction	$	17,880		$	26,421		$	4,867
Permanent loan modification	5,985			5,874			3,659
Debt settlement	3,352			5,631			7,350
Total loan modifications – unsecured personal loans	$	27,217		$	37,926		$	15,876

% of unsecured personal loans at amortized cost as of period end	0.9		%	1.2		%	0.4		%

The following table presents the delinquency status of the amortized cost of loan modifications as of the periods presented below that were modified during the preceding twelve months:


	December 31, 2025						December 31, 2024
	Short-term Payment Reduction		Permanent Loan Modification		Debt Settlement		Short-term Payment Reduction		Permanent Loan Modification		Debt Settlement
Unsecured personal loans
Current	$	14,750	$	5,541	$	47	$	21,471	$	5,285	$	43
30-59 days	1,357		171		29		1,851		247		19
60-89 days	894		162		585		1,462		159		811
90 or more days	879		111		2,691		1,637		183		4,758
Total loan modifications	$	17,880	$	5,985	$	3,352	$	26,421	$	5,874	$	5,631

Schedule of Total Amount of Charge-Offs for Loan Modifications

The table below presents the total amount of charge-offs during the period for loan modifications that were entered into within the preceding twelve months of charge-off:


Year Ended December 31,	2025		2024		2023
Short-term payment reduction	$	9,229	$	7,945	$	224
Permanent loan modification	1,542		2,136		308
Debt settlement	38,556		72,845		53,111
Total loan modifications – unsecured personal loans	$	49,327	$	82,926	$	53,643

Loans and Leases Held for Investment at Amortized Cost, Net of Allowance for Loan and Lease Losses - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Receivables [Abstract]
Accrued interest receivable, location	Other assets	Other assets
Accrued interest	$ 17.9	$ 30.4
Short-term payment reduction \| Consumer \| Unsecured personal \| Short-term payment reduction modification
Term Loans and Leases by Origination Year
Financing receivable, modified, temporary payment reduction period	3 months
Financing receivable, modified, additional temporary payment reduction period	3 months
Short-term payment reduction \| Minimum \| Consumer \| Unsecured personal \| Short-term payment reduction modification
Term Loans and Leases by Origination Year
Financing receivable, modified, term increase from modification	5 months
Short-term payment reduction \| Maximum \| Consumer \| Unsecured personal \| Short-term payment reduction modification
Term Loans and Leases by Origination Year
Financing receivable, modified, term increase from modification	9 months
Short-term payment reduction, first three months after modification \| Consumer \| Unsecured personal \| Short-term payment reduction modification
Term Loans and Leases by Origination Year
Financing receivable, excluding accrued interest, modified, accumulated	$ 12.7
Extended maturity \| Consumer \| Unsecured personal \| Permanent loan modification
Term Loans and Leases by Origination Year
Financing receivable, modified, term increase from modification	12 months
Financing receivable, modified, weighted average term increase from modification	12 months	12 months	12 months
Contractual interest rate reduction \| Consumer \| Unsecured personal \| Permanent loan modification
Term Loans and Leases by Origination Year
Financing receivable, modified, weighted average interest rate decrease from modification	8.40%	8.00%	9.20%

Loans and Leases Held for Investment at Amortized Cost, Net of Allowance for Loan and Lease Losses - Schedule of Charge-Offs by Origination Year (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2025 USD ($)
Term Loans and Leases by Origination Year
2025	$ 17,539
2024	56,185
2023	62,051
2022	60,568
2021	13,934
Prior	8,597
Total	218,874
Consumer
Term Loans and Leases by Origination Year
2025	17,539
2024	56,013
2023	62,051
2022	60,238
2021	13,901
Prior	0
Total	209,742
Consumer \| Unsecured personal
Term Loans and Leases by Origination Year
2025	17,391
2024	55,604
2023	61,022
2022	59,685
2021	13,737
Prior	0
Total	207,439
Consumer \| Residential mortgages
Term Loans and Leases by Origination Year
2025	0
2024	0
2023	0
2022	0
2021	0
Prior	0
Total	0
Consumer \| Secured consumer
Term Loans and Leases by Origination Year
2025	148
2024	409
2023	1,029
2022	553
2021	164
Prior	0
Total	2,303
Commercial
Term Loans and Leases by Origination Year
2025	0
2024	172
2023	0
2022	330
2021	33
Prior	8,597
Total	9,132
Commercial \| Equipment finance
Term Loans and Leases by Origination Year
2025	0
2024	0
2023	0
2022	0
2021	0
Prior	0
Total	0
Commercial \| Commercial real estate
Term Loans and Leases by Origination Year
2025	0
2024	0
2023	0
2022	0
2021	0
Prior	8,597
Total	8,597
Commercial \| Commercial and industrial
Term Loans and Leases by Origination Year
2025	0
2024	172
2023	0
2022	330
2021	33
Prior	0
Total	$ 535

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted EPS

The following table details the computation of the Company’s basic and diluted EPS:


Year Ended December 31,	2025		2024			2023

Basic EPS:


Net income	$	135,677		$	51,330		$	38,939
Weighted-average common shares – Basic	114,605,220			111,731,523			108,466,179
Basic EPS	$	1.18		$	0.46		$	0.36

Diluted EPS:


Net income	$	135,677		$	51,330		$	38,939
Weighted-average common shares – Diluted	117,233,815			113,122,859			108,468,857
Diluted EPS	$	1.16		$	0.45		$	0.36

Derivative Instruments and Hedging Activities - Schedule of Gains (Losses) on Derivatives (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total gains (losses)	$ 3,054	$ (4,952)	$ (6,372)
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Marketplace revenue
Credit derivatives
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total gains (losses)	$ 3,528	(4,558)	(6,372)
Interest rate caps
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Total gains (losses)	$ (474)	$ (394)	$ 0

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Loans and Leases Held for Investment at Amortized Cost, Net of Allowance for Loan and Lease Losses - Schedule of Loan Modifications (Details) - Consumer - Unsecured personal - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Financing Receivable, Modified [Line Items]
Total loan modifications – unsecured personal loans	$ 27,217	$ 37,926	$ 15,876
% of unsecured personal loans at amortized cost as of period end	0.90%	1.20%	0.40%
Short-term payment reduction
Financing Receivable, Modified [Line Items]
Total loan modifications – unsecured personal loans	$ 17,880	$ 26,421	$ 4,867
Permanent loan modification
Financing Receivable, Modified [Line Items]
Total loan modifications – unsecured personal loans	5,985	5,874	3,659
Debt settlement
Financing Receivable, Modified [Line Items]
Total loan modifications – unsecured personal loans	$ 3,352	$ 5,631	$ 7,350

Structured Program Transactions and Variable Interest Entities - Schedule of Unconsolidated VIEs (Details) - Unconsolidated - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Fair value of consideration received:
Cash	$ 1,094,285	$ 394,205	$ 172,397
Net securities retained from Structured Program transactions	1,993,586	2,711,693	1,299,313
Other assets, net	36,302	35,877	16,740
Total consideration	3,124,173	3,141,775	1,488,450
Fair value of loans sold	(3,090,986)	(3,079,628)	(1,474,077)
Sale of senior securities related to Structured Program transactions	0	(30,000)	0
Deconsolidation of debt	0	880	0
Principal derecognized from loans securitized or sold	0	(737)	0
Gain on sales of loans and securities	33,187	32,290	14,373
Cash proceeds from continuing involvement:
Servicing and other administrative fees	38,300	27,047	5,475
Interest received on securities retained from Structured Program transactions	$ 203,138	$ 164,807	$ 22,786

Regulatory Requirements - Narrative (Details) $ in Millions	3 Months Ended
Regulatory Requirements - Narrative (Details) $ in Millions	Mar. 31, 2025 USD ($)
LendingClub Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Cash dividends paid	$ 50

Leases - Schedule of Future Minimum Undiscounted Lease Payments Under Operating Leases (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Operating Lease Payments
2026	$ 7,973
2027	5,010
2028	4,046
2029	909
2030	0
Total lease payments	17,938
Discount effect	(2,112)
Present value of future minimum lease payments	$ 15,826	$ 28,502

Deposits - Schedule of Maturity of Certificates of Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Other Liabilities Disclosure [Abstract]
2026	$ 2,389,994
2027	29,895
2028	2,953
2029	10,341
2030	1,239
Total certificates of deposit	2,434,422	$ 2,294,214
Uninsured certificates of deposit	$ 116,600

LendingClub Corporation – Parent Company-Only Financial Statements (Tables)

12 Months Ended

Dec. 31, 2025

Condensed Financial Information Disclosure [Abstract]

Statements of Income


Year Ended December 31,	2025		2024		2023
Non-interest income:
Marketplace revenue	$	29,613	$	36,595	$	41,817
Other non-interest income	7,472		9,038		9,503
Total non-interest income	37,085		45,633		51,320

Interest income:

Interest on loans held for investment at fair value	474		1,831		6,811
Interest on securities available for sale	83		2,785		6,802
Other interest income	272		601		811
Total interest income	829		5,217		14,424

Interest expense:
Other interest expense	—		698		4,574
Total interest expense	—		698		4,574

Net interest income	829		4,519		9,850

Total net revenue	37,914		50,152		61,170



Non-interest expense:
Compensation and benefits	6,557		6,538		6,520
Marketing	—		2		—
Equipment and software	51		126		246
Depreciation and amortization	4,612		8,525		16,979
Professional services	650		669		1,210
Occupancy	7,766		8,216		9,552
Other non-interest expense	14,484		21,511		24,508
Total non-interest expense	34,120		45,587		59,015

Income before income tax benefit (expense)	3,794		4,565		2,155
Income tax benefit (expense)	233		(912)		2,203
Income before undistributed earnings of subsidiary	4,027		3,653		4,358
Equity in undistributed earnings of subsidiary	131,650		47,677		34,581
Net income	$	135,677	$	51,330	$	38,939

Statements of Comprehensive Income


Year Ended December 31,	2025		2024		2023
Net income	$	135,677	$	51,330	$	38,939
Other comprehensive income, net of tax:
Net unrealized (loss) gain on securities available for sale	(553)		(3,076)		6,706
Equity in other comprehensive income (loss) of subsidiary	6,636		9,137		(1,282)
Other comprehensive income, net of tax	6,083		6,061		5,424
Total comprehensive income	$	141,760	$	57,391	$	44,363

Balance Sheets


December 31,	2025		2024
Assets
Cash and due from banks	$	116,190	$	52,398
Interest-bearing deposits in banks	10,897		13,583
Total cash and cash equivalents	127,087		65,981
Restricted cash	16,659		27,536
Securities available for sale at fair value ($10,083 and $0 at amortized cost, respectively)	10,083		—

Loans held for investment at fair value	1,013		4,572
Property, equipment and software, net	3,920		8,537
Investment in subsidiary	1,260,008		1,177,745
Other assets	67,971		118,027
Total assets	$	1,486,741	$	1,402,398
Liabilities and Equity


Other liabilities	36,313		60,667
Total liabilities	36,313		60,667
Equity

Common stock, $0.01 par value; 180,000,000 shares authorized; 115,368,987 and 113,383,917 shares issued and outstanding, respectively	1,154		1,134
Additional paid-in capital	1,719,233		1,702,316
Accumulated deficit	(251,799)		(337,476)
Accumulated other comprehensive loss	(18,160)		(24,243)
Total equity	1,450,428		1,341,731
Total liabilities and equity	$	1,486,741	$	1,402,398

Statements of Cash Flows


Year Ended December 31,	2025		2024		2023
Cash flows from operating activities:
Parent company net income	$	135,677	$	51,330	$	38,939
Adjustments to reconcile net income to net cash (used for) provided by operating activities:
Equity in undistributed earnings of subsidiary	(131,650)		(47,677)		(34,581)
Net fair value adjustments	(4,526)		(2,716)		(2,903)
Change in fair value of loan servicing assets	31,024		40,590		50,281

Stock-based compensation, net	4,230		4,505		5,253
Depreciation and amortization	4,612		8,525		16,979




Other, net	4		5		274
Net change to loans held for sale	—		1,121		5,953
Net change in operating assets and liabilities:
Other assets	(43,322)		(57,859)		(32,805)
Other liabilities	(24,487)		(26,349)		(30,741)
Net cash (used for) provided by operating activities	(28,438)		(28,525)		16,649
Cash flows from investing activities:

Proceeds from (payments for) investments in and advances to subsidiary	50,000		(50,000)		—

Purchase of servicing asset investment	—		(47,450)		(50,576)
Proceeds from servicing asset investment	54,278		72,718		72,343
Net change in loans held for investment	6,482		16,081		52,611
Purchases of securities available for sale	(10,000)		—		—

Proceeds from maturities and paydowns of securities available for sale	—		264		7,861

Other investing activities	—		—		200
Net cash provided by (used for) investing activities	100,760		(8,387)		82,439
Cash flows from financing activities:


Principal payments on borrowings	—		(12,804)		(54,237)














Other financing activities	(22,093)		(13,668)		(19,834)
Net cash used for financing activities	(22,093)		(26,472)		(74,071)
Net increase (decrease) in cash, cash equivalents and restricted cash	50,229		(63,384)		25,017
Cash, cash equivalents and restricted cash, beginning of period	93,517		156,901		131,884
Cash, cash equivalents and restricted cash, end of period	$	143,746	$	93,517	$	156,901

The following table presents cash, cash equivalents and restricted cash by category within the Parent Company balance sheet:


	December 31, 2025		December 31, 2024
Cash and cash equivalents	$	127,087	$	65,981
Restricted cash	16,659		27,536
Total cash, cash equivalents and restricted cash	$	143,746	$	93,517

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Basis of Presentation

These consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) and, in the opinion of management, contain all adjustments, including normal recurring adjustments, necessary for the fair statement of the results and financial position for the periods presented.

Consolidation and Consolidation of Variable Interest Entities

All intercompany balances and transactions have been eliminated in consolidation.

Consolidation of Variable Interest Entities

Use of Estimates

These accounting principles require management to make certain estimates and assumptions that affect the amounts in the accompanying financial statements. These estimates and assumptions are inherently subjective in nature and actual results may differ from these estimates and assumptions, and the differences could be material.

Cash and Cash Equivalents

Restricted Cash

Securities

Loans and Leases

Loans Held for Sale at Fair Value

Loans and Leases Held for Investment at Amortized Cost

In certain circumstances, the Company may reclassify loans and/or leases from HFI to HFS, at which time these are valued at the lower of amortized cost or fair value.

Loans Held for Investment at Fair Value

Election of Fair Value Option

Accrued Interest Income and Non-Accrual Policy

Allowance for Credit Losses

Allowance Calculation Methodology

Zero Credit Loss Expectation Exception

Reserve for Unfunded Lending Commitments

Individually Assessed Loans

Charge-Offs

Servicing Assets

Fair Value of Measurements

Fair Value Measurements

The fair value hierarchy includes a three-level hierarchy that assigns the highest priority to unadjusted quoted prices in active markets and the lowest priority to unobservable inputs.


Level 1	—	Quoted market prices in active markets for identical assets or liabilities.

Level 2	—	Inputs other than quoted prices included in Level 1 that are observable for the asset or liability either directly or indirectly.

Level 3	—	Unobservable inputs.

Derivative Instruments and Hedging Activities

Property, Equipment and Software, Net

Lessor Accounting – Operating Leases

Goodwill and Other Intangible Assets

Loss Contingencies

Stock-based Compensation

Share Repurchases

Income Taxes

Earnings Per Share

Transfers of Financial Assets

Adoption of New Accounting Standards and New Accounting Standards Net Yet Adopted

Adoption of New Accounting Standards

The Company adopted the following new accounting standards during the year ended December 31, 2025:

New Accounting Standards Not Yet Adopted

Revenue Recognition

Marketplace revenue consists of (i) origination fees, (ii) servicing fees, (iii) gain on sales of loans and (iv) net fair value adjustments, as described below.

Origination Fees: Fees charged to borrowers in connection with the origination of loans that are held for sale.

Deposits (Tables)

12 Months Ended

Dec. 31, 2025

Other Liabilities Disclosure [Abstract]

Schedule of Deposits, Maturity of Certificates of Deposits and Amount of Certificates of Deposit with Denominations

Deposits consist of the following:


December 31,	2025		2024
Interest-bearing deposits:
Savings and money market accounts	$	6,599,737	$	5,903,869
Certificates of deposit	2,434,422		2,294,214
Checking accounts	425,324		478,036
Total	9,459,483		8,676,119
Noninterest-bearing deposits	374,387		392,118
Total deposits	$	9,833,870	$	9,068,237

Total certificates of deposit at December 31, 2025 are scheduled to mature as follows:


2026	$	2,389,994
2027	29,895
2028	2,953
2029	10,341
2030	1,239

Total certificates of deposit (1)	$	2,434,422

(1) Certificates of deposit in excess of the FDIC insurance limit of $250 thousand per account holder totaled $116.6 million at December 31, 2025.

- Definition

Tabular disclosure of type of deposit liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph e
-Publisher SEC

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph d
-Publisher SEC

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph c
-Publisher SEC

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph a
-Subparagraph (5)
-Publisher SEC

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph a
-Subparagraph (4)
-Publisher SEC

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph a
-Subparagraph (3)
-Publisher SEC

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph a
-Subparagraph (2)
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph a
-Subparagraph (1)
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph a
-Publisher SEC

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
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-Subparagraph (1)
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Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph f
-Subparagraph (2)
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Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph f
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Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph f
-Subparagraph (2)(iv)
-Publisher SEC

Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph f
-Subparagraph (2)(iii)
-Publisher SEC

Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef
-Name Regulation S-K (SK)
-Number 229
-Section 1406
-Paragraph f
-Subparagraph (2)(ii)
-Publisher SEC

+ Details