Lendingclub Corporation · NYSE:LC
Lendingclub — Q1 2021 Earnings Presentation
13 slides from Lendingclub's earnings presentation, Apr 28, 2021
Slide 1: First Quarter 2021 Results
First Quarter 2021 Results April 28, 2021
Slide 2: 1Q 2021 Results & Financial Metrics
1Q 2021 Results & Financial Metrics
Slide 3: Disclaimer
Disclaimer Some of the statements in this presentation, including statements regarding anticipated future financial results, are “forward-looking statements.” The words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “outlook,” “plan,” “predict,” “project,” “will,” “would” and simila
Slide 4: Member-Focused Digital Marketplace Bank
Member-Focused Digital Marketplace Bank Customers1 Lifetime Vision Promise Originations1 Become 3+ America’s To champion the financial success Million $60+ Financial of our members with fairness, Billion Health Club. simplicity, and heart. Best Overall Checking Account, April 2021 1 Total customers
Slide 5: Best of Both Worlds
Best of Both Worlds Positioned well against competitive set Fintechs Banks Ability to efficiently serve a broad range of customers ✓ ✓ ✗ Capital-light, high-ROE marketplace earnings stream ✓ ✓ ✗ Economics Highly profitable earnings via loan portfolio ✓ ✗ ✓ Lower cost deposit funding ✓ ✗ ✓ Fully inte
Slide 6: 1Q21 Highlights: Exceeded Financial Targets & Completed Radius Bank Acquisition Ahead of Schedule
1Q21 Highlights: Exceeded Financial Targets & Completed Radius Bank Acquisition Ahead of Schedule 1Q21 Guidance Targets Actuals Commentary ▪ Leveraged existing member base and opened Originations +32 to +43% QoQ +63%, $1.5B additional paid marketing channels ▪ Growth in marketplace revenue and net i
Slide 7: Immediate Financial Advantages of Digital Marketplace Bank
Immediate Financial Advantages of Digital Marketplace Bank Advantage Status Benefit Cost of funds down approximately 300 basis points Reduce cost of funds compared to 2020 levels. Added $344 million of consumer loans which will Build recurring revenue stream generate a future revenue stream of appro
Slide 8: Growth Driven by Accelerating Marketplace Revenues & New Recurring Net Interest Income Stream
Growth Driven by Accelerating Marketplace Revenues & New Recurring Net Interest Income Stream $131.2 Net Interest Income: Total Net Interest Income $24.2 driven by recurring Revenue1 Non Interest Income $105.8 revenues from the size ($ in millions) and asset mix of the $18.5 existing loan portfolio
Slide 9: Membership & Data Advantages Driving Originations Growth & Marketplace Revenues
Membership & Data Advantages Driving Originations Growth & Marketplace Revenues Quarterly Loan Originations1,2 Quarterly Marketplace Revenue1 ($ in millions) ($ in millions) Retained Loans Marketplace Originations $1,483 2,521 $102.5 $81.7 $1,139 $69.3 $54.6 $912 $584 $18.9 $326 $344 1Q20 2Q20 3Q20
Slide 10: Net Interest Income: Increased Mix of LC Consumer Loans Will Drive Higher Interest Income
Net Interest Income: Increased Mix of LC Consumer Loans Will Drive Higher Interest Income Loans Held for Investment on Bank Net Interest Income from Bank Loans Held Balance Sheet2 for Investment2 ($ in millions) ($ in millions) 1 $324M $3.2M $2,115M $14.1M $10.8M $1,792M % loan composition % interes
Slide 11: Growing Consumer Loan Portfolio Will Drive Margin Expansion
Growing Consumer Loan Portfolio Will Drive Margin Expansion 1Q21 ($ in millions) Bank Effective Rate4 ▪ Fastest-growing portfolio with targeted 2 LC Consumer 324 14% retention of 15% to 25% of quarterly originations Residential and Other Consumer 548 3.7% Commercial 582 5.0% PPP 661 3.5% Weighted-Av
Slide 12: Raising Full Year Outlook
Raising Full Year Outlook 2Q21 Guidance FY21 Guidance Prior Guidance Originations $1.7B to $1.9B $6.8B to $7.3B $6.3B +15% to +28% QoQ +57% to +68% YoY Revenue $130M to $140M $500M to $530M $488M +23% to +32% QoQ +59% to +68% YoY GAAP Net ($175M) to Income (Loss) ($40M) to ($30M) ($167M) to ($142M)
Slide 13: LendingClub
= LendingClub