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Lending Club Is A Bank

Started by Peter, February 17, 2020, 11:00:00 PM

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About time, but most probably not good for retail lenders, as they may be phased out, with cheap access to deposit capital.



Here's another cute quote from the story...

Rob L

At the open at least the equity market isn't impressed. LC is down $1.20 per share (-9.12%) to $11.96 per share.
They did announce quarterly earnings last evening which is a major factor of course.
Where it will close is anyone's guess. BTW the Dow is up 82.


Quite a day for LC stock. Rallied from a low of $11.66 around 10 am into the close and finished at $12.98 a share; a loss of only 1.37%.
The volume was 3x an average day.
If I'm not mistaken they reported their first quarterly profit ever. What's not to like" alt=":)" title="Smiley" class="smiley" />


You can't make this stuff up; largest loan asset segment "Yachts". I didn't Photoshop it; really.
Wow, must be Boston" alt=":)" title="Smiley" class="smiley" />" alt="" class="bbc_img" />


I saw that.  At least they're probably secured loans.

There's an error on that slide.  See where it says "(in millions)"?  Those aren't millions.  Must actually be thousands.

$1,077,335 (millions) would be 1 Trillion dollars worth of yachts, which would be one hellofa lotta yachts.


Fred, I think they meant institutional debt providers, not purchasers of loans
Without a portfolio of loans, LendingClub will have extreme volatility of earnings. Balance sheet interest income will mitigate that issue a bit

NEW LOANS:   | 338.eth 0.000 Ξ | ludicolo.eth 0.200 Ξ | ludicolo.eth 0.200 Ξ | ALL