2023 Overview
General Bank Information
LendingClub is an FDIC insured institution located in Lehi, UT. It was founded in 1987 and has approximately $8.05 billion in assets. Customers can open an account at one of its 3 branches.
| FDIC Insured | Yes |
| FDIC Certificate | # 32551 |
| Date Established | 1987 |
| Assets | $ 8.05 billion |
| Loans | $ 5.82 billion |
| Deposits | $ 6.90 billion |
| Capital | $ 985.07 million |
For a more detailed analysis of LendingClub's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - November 28, 2023
Your Current Location: Virginia, VA 20146
| Savings and Money Market Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Online Savings
|
4.50% | $0 | - |
Learn More
|
| CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 6 Month CD
|
5.30% | $2,500 | - |
Learn More
|
| 1 Year CD
|
5.45% | $2,500 | - |
Learn More
|
| 18 Month CD
|
5.00% | $2,500 | - |
Learn More
|
| 2 Year CD
|
4.50% | $2,500 | - |
Learn More
|
| 3 Year CD
|
4.30% | $2,500 | - |
Learn More
|
| 5 Year CD
|
4.00% | $2,500 | - |
Learn More
|
| Int Checking Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Rewards Checking
|
0.15% | $100,000 | - | Learn More |
| Checking Rates | APY | MIN | FEE | |
|---|---|---|---|---|
| Essential Checking | 0.00% | $0 | $9.00 | Learn More |
Bank Offers
Lending Club Bank Raises Its Online Savings Rate to 1.05% APY
Jun 1, 2022
This move represents a 20 bps increase in its savings rate.
Bank Online Offers
Radius Bank raises High Yield Savings Rate to 1.96% on Balances over $25,000
Aug 31, 2018
Radius Bank has raised its high yield savings rate on balances over $25,000 from 1.86% to 1.96%. Compare all online savings rates here.
Loan Rates - November 28, 2023
Your Current Location: Virginia, VA 20146
There are currently no loan rates available for LendingClub Bank, National Association
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Virginia 30 Year Fixed Mortgage Rates 2023
| Lender | APR | Rate (%) | Monthly Payment |
Learn More |
|---|---|---|---|---|
NMLS ID: Not a Lender |
points fees |
Learn More | ||
NMLS ID: Not a Lender |
points fees |
Learn More | ||
NMLS ID: 491986 |
points fees |
Learn More |
Featured - Virginia Home Equity Line Of Credit Rates 2023
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|
Note to LendingClub Bank, National Association
To upload and update your bank's rates please register.
It is free to register and add rates.
Branches
LendingClub branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Ashburn,Virginia
Climate Initiatives
LendingClub Bank, National Association is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.
Financial Details
LendingClub Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of LendingClub. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.
Texas Ratio
| LendingClub | U.S. Bank Average |
|---|---|
| 5.33% | 3.82% |
The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.
As of June 30, 2023, LendingClub had $71,423,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $985,066,000 in equity and $355,163,000 in loans loss reserves. That gives it a Texas Ratio of 5.33%.
Return on Equity
| LendingClub | U.S. Bank Average |
|---|---|
| 5.5% | 13.18% |
LendingClub has a Return on Equity of 5.5% versus the BestCashCow average of 13.18%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.
Capitalization
| LendingClub | U.S. Bank Average |
|---|---|
| 12.24% | 10.43% |
LendingClub has a Capitalization of 12.24% versus the BestCashCow average of 10.43. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.
LendingClub Balance Sheet Analysis
As of June 30, 2023, LendingClub had assets of $8,049,503,000, loans of $5,819,202,000, and deposits of $6,897,220,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.
Summary Balance Sheet
June 30, 2023| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 1,176.56 million |
| Interest-bearing balances | $ 1,166.61 million |
| Total securities | $ 515.47 million |
| Federal funds sold and reverse repurchase | N.A. |
| Net loans and leases | $ 5.82 billion |
| Loan loss allowance | $ 355.16 million |
| Trading account assets | N.A. |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | N.A. |
| Goodwill and other intangibles | $ 108.86 million |
| All other assets | $ 285.83 million |
| Total Assets | $ 7.06 billion |
| LIABILITIES | |
|---|---|
| Total deposits | $ 6.90 billion |
| Interest-bearing deposits | $ 6.65 billion |
| Deposits held in domestic offices | $ 6.90 billion |
| % insured (estimated) | 85.24% |
| Federal funds purchased and repurchase agreements | N.A. |
| Trading liabilities | N.A. |
| Other borrowed funds | $ 123.44 million |
| Subordinated debt | N.A. |
| All other liabilities | $ 187.09 million |
| Total Liabilities | $ 7.06 billion |
| Shareholders’ Equity | $ 985.07 million |
Summary Income Statement
June 30, 2023| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 408.85 million |
| Total Interest Expense | $ 120.44 million |
| Net interest income | $ 288.41 million |
| Provision for loan and lease losses | $ 137.20 million |
| Total non interest income | $ 175.59 million |
| Total non interest expense | $ 290.95 million |
| Pre-tax Net Operating Income | $ 107.41 million |
Bank Loan Profile?
The top three loan types in LendingClub’s loan portfolio are Commercial Real Estate, Commercial and Industrial Loans, and 1-4 Family Residential Loans.
Compared to other banks, LendingClub’s loan portfolio does not show any specific loan specialty.
Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.
| % Loans |
% Comparison to Other Banks |
|||
|---|---|---|---|---|
| Low | Med | High | ||
| 1-4 Family Residential Loans | 3.04 | ✓ | ||
| Multifamily Mortgages |
0.46 | ✓ | ||
| Credit Card Loans | 0.00 | ✓ | ||
| Consumer Auto Loans | 2.41 | ✓ | ||
| Small Business Loans | 0.53 | ✓ | ||
| Construction and Development Loans | 0.35 | ✓ | ||
| Commercial Real Estate | 5.02 | ✓ | ||
| Commercial and Industrial Loans | 4.58 | ✓ | ||
| Farm Loans | 0.00 | ✓ | ||
Customer Reviews for LendingClub (22)
overdrawn
November 12, 2022 |
I was shopping for deposit rates in August, and NerdWallet, a site I had previously trusted, had it on their list. I was unaware they took deposits. They are the only bank that ever duplicated a transaction on me in my iife! They overdrew me, but fortunately, Discover was very helpful, and walked me through the overdraft protection process, including temporarily removing it, so LendingClub could not take even more. Rates have not kept up, and Discover now nearly pays as much. I did receive a $100 courtesy credit from LendingClub, but honestly, I could have done without the stress! Online transfers of depoists and withdrawals have been working normally. They are slower on withdrawals than I am accustomed to, and the day to expect it to transact is listed in the email they send. I have made adjustments to the date based on the email (reset earlier).
Is this review helpful? Yes:0 / No: 0
ScreamingJim
October 26, 2022 |
Tables like this can mask the fact that a bank is slow to raise. LC was at 2.25% until recently when other banks were already over 3%. Now they jump up and appear like a competitive bank. They aren't. Also, a poor interface. Would avoid until they prove they can remain competitive.
Is this review helpful? Yes:1 / No: 0
awalts07
September 23, 2022 |
I know that the bank is supposedly FDIC insured but the entire soft money lending thing upon which this business is predicated is about to go go under so look out below!
Is this review helpful? Yes:0 / No: 0
TedR1968
September 17, 2022
Atrocious bank interface makes me nervous so I am out + bank is no longer a rate leader. (Phone rep was very pleasant and helpful but she could not fix the interface)
Is this review helpful? Yes:0 / No: 0
athierry
June 16, 2022
After going thru the process of opening an account, they revealed a $5000 limit on transfers. Should have been shown before, an untrustworthy omission.
Is this review helpful? Yes:2 / No: 0
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