The company appears to be on the brink of making a historic -- and extremely beneficial -- acquisition.
News & Analysis: LendingClub
This investment is not just a recovery play -- it's a corporate transformation as well.
The company reported a net loss of $48 million in the first quarter, and laid off 30% of its staff.
LC earnings call for the period ending March 31, 2020.
The company cited the COVID-19 pandemic's "unprecedented effect," as well a drop-off in investor demand for the personal loans the company specializes in.
Although a long and complex regulatory approval process ahead, the acquisition of Radius Bank could give LendingClub a cheaper capital source, enhanced profitability, and diversified revenue
Here’s why it’s a big deal for the company and future of banking.
LC earnings call for the period ending December 31, 2019.
LC earnings call for the period ending September 30, 2019.
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