LENDINGCLUB CORP, 10-Q filed on 4/30/2026
Quarterly Report
v3.26.1
Cover Page - shares
 3 Months Ended
Mar. 31, 2026
Apr. 24, 2026
Entity Addresses [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2026  
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 88 Kearny Street,  
Entity Address, Address Line Two Suite 600,  
Entity Address, City or Town San Francisco,  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 94108  
City Area Code 415  
Local Phone Number 930-7440  
Title of 12(b) Security Common stock, par value $0.01 per share  
Trading Symbol LC  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   115,350,925
Entity Central Index Key 0001409970  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q1  
Amendment Flag false  
Transition Report false  
v3.26.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets    
Cash and due from banks $ 19,528 $ 11,749
Interest-bearing deposits in banks 782,415 905,905
Total cash and cash equivalents 801,943 917,654
Restricted cash 19,919 12,783
Securities available for sale at fair value ($3,908,834 and $3,733,780 at amortized cost, respectively) 3,867,576 3,706,709
Loans held for sale at fair value 1,836,121 1,762,396
Loans held for investment at fair value 1,237,850 473,314
Loans and leases held for investment at amortized cost 3,700,837 4,272,812
Allowance for loan and lease losses (237,697) (275,743)
Loans and leases held for investment at amortized cost, net 3,463,140 3,997,069
Property, equipment and software, net 273,472 254,088
Goodwill 75,717 75,717
Other assets 364,101 368,086
Total assets 11,939,839 11,567,816
Deposits:    
Interest-bearing 9,781,568 9,459,483
Noninterest-bearing 407,943 374,387
Total deposits 10,189,511 9,833,870
Other liabilities 226,800 233,518
Total liabilities 10,416,311 10,067,388
Equity    
Common stock, $0.01 par value; 180,000,000 shares authorized; 115,497,890 and 115,368,987 shares issued and outstanding, respectively 1,155 1,154
Additional paid-in capital 1,701,280 1,719,233
Accumulated deficit (150,196) (201,799)
Accumulated other comprehensive loss (28,711) (18,160)
Total equity 1,523,528 1,500,428
Total liabilities and equity $ 11,939,839 $ 11,567,816
v3.26.1
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Statement of Financial Position [Abstract]    
Securities available for sale at amortized cost $ 3,908,834 $ 3,733,780
Common stock, par value (in USD per share) $ 0.01 $ 0.01
Common stock, authorized (in shares) 180,000,000 180,000,000
Common stock, shares issued (in shares) 115,497,890 115,368,987
Common stock, shares outstanding (in shares) 115,497,890 115,368,987
v3.26.1
Condensed Consolidated Statements of Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Interest income:    
Interest on loans [1] $ 199,897 $ 166,173
Interest on securities available for sale 54,411 56,280
Other interest income 6,899 9,606
Total interest income 261,207 232,059
Interest expense:    
Interest on deposits 84,971 82,100
Other interest expense 2 2
Total interest expense 84,973 82,102
Net interest income 176,234 149,957
Non-interest income:    
Gain on sales of loans [1] 16,269 12,202
Net fair value adjustments [1] (88,925) (29,251)
Other non-interest income 5,472 2,111
Total non-interest income 76,017 67,754
Total net revenue 252,251 217,711
Provision for credit losses 390 58,149
Non-interest expense:    
Compensation and benefits 65,514 58,389
Marketing 55,415 29,239
Equipment and software 15,293 14,644
Depreciation and amortization 15,819 13,909
Professional services 11,767 9,764
Occupancy 6,391 4,345
Other non-interest expense 14,334 13,577
Total non-interest expense 184,533 143,867
Income before income tax expense 67,328 15,695
Income tax expense (15,725) (4,024)
Net income $ 51,603 $ 11,671
Earnings per share:    
Basic EPS (in USD per share) $ 0.45 $ 0.10
Diluted EPS (in USD per share) $ 0.44 $ 0.10
Weighted-average common shares – Basic (in shares) 115,400,564 113,693,399
Weighted-average common shares – Diluted (in shares) 117,333,435 116,176,898
Origination fees    
Non-interest income:    
Fees [1] $ 130,088 $ 69,944
Servicing fees    
Non-interest income:    
Fees [1] $ 13,113 $ 12,748
[1] Prior period amounts have been reclassified to conform to the current period presentation. See “Note 1. Summary of Significant Accounting Policies” for additional information.
v3.26.1
Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Statement of Comprehensive Income [Abstract]    
Net income $ 51,603 $ 11,671
Other comprehensive income:    
Net unrealized (loss) gain on securities available for sale (14,010) 3,483
Income tax effect 3,459 (1,489)
Other comprehensive (loss) income, net of tax (10,551) 1,994
Total comprehensive income $ 41,052 $ 13,665
v3.26.1
Condensed Consolidated Statements of Changes in Equity - USD ($)
$ in Thousands
Total
Common Stock
Additional Paid-in Capital
Accumulated Other Comprehensive Loss
Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2024   113,383,917      
Beginning 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 9,921   9,921    
Net issuances under equity incentive plans (in shares)   815,915      
Net issuances under equity incentive plans (800) $ 8 (808)    
Net unrealized loss (gain) on securities available for sale, net of tax 1,994     1,994  
Net income 11,671       11,671
Ending balance (in shares) at Mar. 31, 2025   114,199,832      
Ending balance at Mar. 31, 2025 $ 1,364,517 $ 1,142 1,711,429 (22,249) (325,805)
Beginning balance (in shares) at Dec. 31, 2025 115,368,987 115,368,987      
Beginning balance at Dec. 31, 2025 $ 1,500,428 $ 1,154 1,719,233 (18,160) (201,799)
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Stock-based compensation 8,534   8,534    
Net issuances under equity incentive plans (in shares)   875,710      
Net issuances under equity incentive plans (13,869) $ 9 (13,878)    
Share repurchases (in shares)   (746,807)      
Share repurchases (12,617) $ (8) (12,609)    
Net unrealized loss (gain) on securities available for sale, net of tax (10,551)     (10,551)  
Net income $ 51,603       51,603
Ending balance (in shares) at Mar. 31, 2026 115,497,890 115,497,890      
Ending balance at Mar. 31, 2026 $ 1,523,528 $ 1,155 $ 1,701,280 $ (28,711) $ (150,196)
v3.26.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Cash Flows from Operating Activities:    
Net income $ 51,603 $ 11,671
Adjustments to reconcile net income to net cash used for operating activities:    
Net fair value adjustments [1] 88,925 29,251
Change in fair value of loan servicing assets 15,574 17,058
Gain on sales of loans (16,269) (12,202)
Provision for credit losses 390 58,149
Accretion of deferred origination fees and marketing costs (13,516) (15,834)
Stock-based compensation, net 7,574 8,519
Depreciation and amortization 15,819 13,909
Other, net (55) 3,172
Net change to loans held for sale (767,998) (448,379)
Net change in operating assets and liabilities:    
Other assets 11,306 5,442
Other liabilities (12,343) (10,012)
Net cash used for operating activities (618,990) (339,256)
Cash Flows from Investing Activities:    
Net change in loans and leases (252,617) 85,848
Purchases of securities available for sale (44,416) 0
Proceeds from maturities and paydowns of securities available for sale 505,504 380,365
Purchases of property, equipment and software, net (25,784) (13,066)
Other investing activities (144) (2,689)
Net cash provided by investing activities 182,543 450,458
Cash Flows from Financing Activities:    
Net change in deposits 354,358 (167,601)
Net issuances under equity incentive plans (13,869) (750)
Share repurchases (12,617) 0
Net cash provided by (used in) financing activities 327,872 (168,351)
Net decrease in cash, cash equivalents and restricted cash (108,575) (57,149)
Cash, cash equivalents and restricted cash, beginning of period 930,437 977,396
Cash, cash equivalents and restricted cash, end of period 821,862 920,247
Supplemental cash flow information:    
Cash paid for interest 86,637 84,348
Cash (received) paid for income taxes (6,479) 104
Cash paid for operating leases included in the measurement of lease liabilities 3,504 3,237
Supplemental non-cash investing activity:    
Net securities retained from Structured Program transactions $ 635,132 $ 349,002
[1] Prior period amounts have been reclassified to conform to the current period presentation. See “Note 1. Summary of Significant Accounting Policies” for additional information.
v3.26.1
Condensed Consolidated Statements of Cash Flows (Cash, Cash Equivalents and Restricted Cash) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Statement of Cash Flows [Abstract]        
Total cash and cash equivalents $ 801,943 $ 917,654 $ 895,515  
Restricted cash 19,919 12,783 24,732  
Total cash, cash equivalents and restricted cash $ 821,862 $ 930,437 $ 920,247 $ 977,396
v3.26.1
Summary of Significant Accounting Policies
 3 Months Ended
Mar. 31, 2026
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies 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 condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) for interim financial information 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. Results reported in interim periods are not necessarily indicative of results for the full year or any other interim period.

The Company made the following presentation changes in the condensed consolidated financial statements and accompanying notes during the first quarter of 2026:

•The components previously aggregated under “Marketplace revenue” on the Condensed Consolidated Statements of Income (Income Statement), namely “Origination fees,” “Servicing fees,” “Gain on sales of loans,” and “Net fair value adjustments,” are now presented as separate line items on the Income Statement.

•“Interest on loans held for sale,” “Interest and fees on loans and leases held for investment,” and “Interest on loans held for investment at fair value,” which previously appeared as separate line items on the Income Statement, have been combined into a single line item titled “Interest on loans.”

In all instances, the respective prior period amounts have been reclassified to conform to the current period presentation.

The accompanying interim condensed consolidated financial statements and these related notes should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 (Annual Report) filed on February 12, 2026.
Election of Fair Value Option

Effective January 1, 2026, the Company elected the fair value option to account for held for investment (HFI) loans that were originated on or after that date. Prior to this election, loans that were originated as HFI were, and will continue to be, accounted for at amortized cost, which required the initial recognition of a CECL allowance for lifetime expected credit losses, recognized within “Provision for credit losses” on the Income Statement. The Company believes that applying the fair value option, rather than amortized cost accounting with 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. Fair value adjustments on loans are also recognized in current period earnings within “Net fair value adjustments” and include the impact of credit losses that previously would have been recognized within “Provision for credit losses” under CECL. Further, by applying the fair value option to HFI loans, the Company is applying the same accounting methodology to all loans it originates on or after January 1, 2026, as both HFI and held for sale (HFS) loans will be measured at fair value.

Significant Accounting Policies

The Company’s significant accounting policies are discussed in “Part II – Item 8. Financial Statements and Supplementary Data – Note 1. Summary of Significant Accounting Policies” in the Annual Report. There have been no changes to these significant accounting policies for the three months ended March 31, 2026.

Adoption of New Accounting Standards

The Company did not adopt new accounting standards during the three months ended March 31, 2026.

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 270) – Narrow-Scope Improvements, which improves the navigability of the required interim disclosures and clarifies when the guidance is applicable. The amendments also provide guidance on what disclosures are required during the interim reporting periods. Additionally, the amendments also include 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.
v3.26.1
Earnings Per Share
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The following table details the computation of the Company’s basic and diluted earnings per share (EPS):
Three Months Ended
March 31,
20262025
Basic EPS:
Net income
$51,603 $11,671 
Weighted-average common shares – Basic115,400,564 113,693,399 
Basic EPS$0.45 $0.10 
Diluted EPS:
Net income
$51,603 $11,671 
Weighted-average common shares – Diluted117,333,435 116,176,898 
Diluted EPS$0.44 $0.10 
v3.26.1
Securities Available for Sale
 3 Months Ended
Mar. 31, 2026
Investments, Debt and Equity Securities [Abstract]  
Securities Available for Sale Securities Available for Sale
The amortized cost, gross unrealized gains and losses, and fair value of available for sale (AFS) securities were as follows:
March 31, 2026Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses
Allowance
for Credit Losses
Fair
Value
Senior asset-backed securities related to Structured Program transactions (1)
$3,231,328 $16,760 $(1,708)$— $3,246,380 
Other asset-backed securities related to Structured Program transactions (2)
244,984 56 (2,875)(3,816)238,349 
U.S. agency residential mortgage-backed securities261,505 260 (32,865)— 228,900 
U.S. agency securities81,466 — (10,971)— 70,495 
Mortgage-backed securities59,963 86 (5,225)— 54,824 
Municipal securities3,210 — (624)— 2,586 
Other securities
26,378 53 (389)— 26,042 
Total securities available for sale
$3,908,834 $17,215 $(54,657)$(3,816)$3,867,576 
December 31, 2025Amortized
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 
Other asset-backed securities related to Structured Program transactions (2)
224,802 28 (1,367)(4,093)219,370 
U.S. agency residential mortgage-backed securities267,853 504 (32,296)— 236,061 
U.S. agency securities84,464 — (10,602)— 73,862 
Mortgage-backed securities60,423 135 (4,961)— 55,597 
Municipal securities3,215 — (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 
(1)    Excludes the basis adjustment for securities previously designated in fair value hedges under the portfolio layer method. See “Note 7. Derivative Instruments and Hedging Activities” for additional information.
(2)    As of March 31, 2026 and December 31, 2025, $212.1 million and $200.0 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
March 31, 2026Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Senior asset-backed securities related to Structured Program transactions$791,709 $(1,708)$— $— $791,709 $(1,708)
U.S. agency residential mortgage-backed securities32,769 (463)176,907 (32,402)209,676 (32,865)
Other asset-backed securities related to Structured Program transactions166,950 (2,875)— — 166,950 (2,875)
U.S. agency securities— — 70,495 (10,971)70,495 (10,971)
Mortgage-backed securities12,074 (106)30,886 (5,119)42,960 (5,225)
Municipal securities— — 2,586 (624)2,586 (624)
Other securities
1,327 (11)9,060 (378)10,387 (389)
Total securities with unrealized losses$1,004,829 $(5,163)$289,934 $(49,494)$1,294,763 $(54,657)
Less than
12 months		12 months
or longer		Total
December 31, 2025Fair
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 transactions95,494 (1,034)23,719 (333)119,213 (1,367)
U.S. agency securities— — 73,862 (10,602)73,862 (10,602)
Mortgage-backed securities1,874 (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)

The majority of securities in an unrealized loss position as of both March 31, 2026 and December 31, 2025 were 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 March 31, 2026 were rated investment grade. Substantially all of these unrealized losses were caused by prior increases in interest rates. 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 “Part II – Item 8. Financial Statements and Supplementary Data – Note 1. Summary of Significant Accounting Policies” in our Annual Report.
The following table presents the activity in the allowance for credit losses (ACL) for AFS securities, by security type:

Three Months Ended
March 31,
20262025
Other asset-backed securities related to Structured Program transactions:
Allowance for credit losses, beginning of period
$4,093 $3,527 
Credit loss (benefit) expense for securities available for sale
(277)1,321 
Allowance for credit losses, end of period
$3,816 $4,848 
The contractual maturities of AFS securities were as follows:
March 31, 2026Amortized CostFair Value
Weighted-
average
Yield (1)
Due within 1 year:
U.S. agency securities$3,000 $2,979 
Total due within 1 year3,000 2,979 3.00 %
Due after 1 year through 5 years:
Senior asset-backed securities related to Structured Program transactions3,231,328 3,246,380 
Other asset-backed securities related to Structured Program transactions244,984 238,349 
Mortgage-backed securities2,534 2,387 
U.S. agency securities1,850 1,799 
Municipal securities
458 427 
U.S. agency residential mortgage-backed securities110 105 
Other securities10,286 10,286 
Total due after 1 year through 5 years3,491,550 3,499,733 6.05 %
Due after 5 years through 10 years:
U.S. agency securities34,463 30,464 
U.S. agency residential mortgage-backed securities2,543 2,457 
Mortgage-backed securities871 771 
Municipal securities154 139 
Other securities
9,045 9,069 
Total due after 5 years through 10 years47,076 42,900 3.91 %
Due after 10 years:
U.S. agency residential mortgage-backed securities258,852 226,338 
Mortgage-backed securities56,558 51,666 
U.S. agency securities42,153 35,253 
Municipal securities2,598 2,020 
Other securities
7,047 6,687 
Total due after 10 years367,208 321,964 3.12 %
Total securities available for sale$3,908,834 $3,867,576 5.74 %
(1)    The weighted-average yield is computed using the average month-end amortized cost during the three months ended March 31, 2026.

There were no sales of AFS securities during the first quarter of 2026 and 2025.
v3.26.1
Loans
 3 Months Ended
Mar. 31, 2026
Receivables [Abstract]  
Loans Loans
The Company’s loan portfolios consist of the following:
March 31, 2026December 31, 2025
Loans held for sale at fair value$1,836,121 $1,762,396 
Loans held for investment at fair value1,237,850 473,314 
Total loans at fair value3,073,971 2,235,710 
Loans and leases held for investment at amortized cost, net3,463,140 3,997,069 
Total loans and leases$6,537,111 $6,232,779 

For loans held at fair value, see “Note 5. Fair Value Measurements” for the assumptions used in the Company’s fair value model.

Loans and Leases Held for Investment at Amortized Cost, Net

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:
March 31, 2026December 31, 2025
Unsecured consumer
$2,669,063 $3,191,430 
Residential mortgages149,474 151,073 
Secured consumer223,684 261,045 
Total consumer loans held for investment at amortized cost
3,042,221 3,603,548 
Equipment finance (1)
36,447 39,757 
Commercial real estate (2)
469,948 472,489 
Commercial and industrial152,221 157,018 
Total commercial loans and leases held for investment at amortized cost
658,616 669,264 
Total loans and leases held for investment at amortized cost (3)
3,700,837 4,272,812 
Allowance for loan and lease losses(237,697)(275,743)
Loans and leases held for investment at amortized cost, net
$3,463,140 $3,997,069 
(1)    Comprised of sales-type leases for equipment. See “Note 16. Leases” for additional information.
(2)    Includes $285.3 million and $286.8 million in loans originated through the Small Business Administration (SBA) as of March 31, 2026 and December 31, 2025, respectively.
(3)    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 $15.5 million and $17.9 million as of March 31, 2026 and December 31, 2025, respectively.

The following table presents the components of the allowance for loan and lease losses (ALLL):
March 31, 2026December 31, 2025
Gross allowance for loan and lease losses (1)
$274,256 $312,667 
Recovery asset value (2)
(36,559)(36,924)
Allowance for loan and lease losses$237,697 $275,743 
(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.
March 31, 2026ConsumerCommercialTotal
Loans and leases held for investment at amortized cost
$3,042,221 $658,616 $3,700,837 
Allowance for loan and lease losses$221,196 $16,501 $237,697 
Allowance ratio (1)
7.3 %2.5 %6.4 %
Gross allowance for loan and lease losses$257,755 $16,501 $274,256 
Gross allowance ratio (1)
8.5 %2.5 %7.4 %
December 31, 2025ConsumerCommercialTotal
Loans and leases held for investment at amortized cost
$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 %
(1)    Calculated as ALLL or gross ALLL, where applicable, to the corresponding portfolio segment balance of loans and leases HFI at amortized cost.

The activity in the ACL by portfolio segment was as follows:
Three Months Ended March 31,
20262025
ConsumerCommercialTotalConsumerCommercialTotal
Allowance for loan and lease losses:
Beginning of period
$258,811 $16,932 $275,743 $212,598 $24,136 $236,734 
Credit loss expense (benefit)
1,401 (555)846 55,948 434 56,382 
Charge-offs (1)
(52,644)(126)(52,770)(58,344)(8,232)(66,576)
Recoveries13,628 250 13,878 17,406 247 17,653 
End of period
$221,196 $16,501 $237,697 $227,608 $16,585 $244,193 
Reserve for unfunded lending commitments:
Beginning of period
$— $1,009 $1,009 $— $1,183 $1,183 
Credit loss (benefit) expense
— (179)(179)— 446 446 
End of period (2)
$— $830 $830 $— $1,629 $1,629 
(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 $44.1 million and $96.3 million of unfunded commitments as of March 31, 2026 and 2025, respectively.
As a result of the Company’s election of the fair value option, all loan originations in the first quarter of 2026 were accounted for at fair value. See “Note 1. Summary of Significant Accounting Policies” for additional information. Accordingly, no originations subsequent to 2025 are presented in the tables below.

The following table presents charge-offs by origination year for the first quarter of 2026:
Gross Charge-Offs by Origination Year
2025202420232022PriorTotal
Unsecured consumer (1)
$18,770 $16,124 $7,933 $7,483 $1,437 $51,747 
Residential mortgages— — — — — — 
Secured consumer274 111 241 225 46 897 
Total consumer loans held for investment at amortized cost
19,044 16,235 8,174 7,708 1,483 52,644 
Equipment finance— — — — — — 
Commercial real estate— — — — — — 
Commercial and industrial— — — 126 — 126 
Total commercial loans and leases held for investment at amortized cost
— — — 126 — 126 
Total loans and leases held for investment at amortized cost
$19,044 $16,235 $8,174 $7,834 $1,483 $52,770 
(1)    Unsecured consumer 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:
March 31, 2026 Term Loans and Leases by Origination Year
2025202420232022PriorTotal
Unsecured consumer
Current $1,505,717 $613,240 $254,235 $219,279 $23,254 $2,615,725 
30-59 days past due 8,523 5,739 2,577 2,374 500 19,713 
60-89 days past due 7,984 4,120 2,188 2,161 382 16,835 
90 or more days past due 7,218 3,871 2,248 2,233 382 15,952 
Total unsecured consumer (1)
1,529,442 626,970 261,248 226,047 24,518 2,668,225 
Residential mortgages
Current — — — 39,778 107,952 147,730 
30-59 days past due — — — 707 1,012 1,719 
60-89 days past due — — — — — — 
90 or more days past due — — — — 25 25 
Total residential mortgages — — — 40,485 108,989 149,474 
Secured consumer
Current117,930 40,053 35,507 21,555 4,874 219,919 
30-59 days past due995 337 799 712 140 2,983 
60-89 days past due256 62 96 95 36 545 
90 or more days past due88 61 67 21 — 237 
Total secured consumer119,269 40,513 36,469 22,383 5,050 223,684 
Total consumer loans held for investment at amortized cost
$1,648,711 $667,483 $297,717 $288,915 $138,557 $3,041,383 
(1)    Excludes basis adjustment for loans previously designated in fair value hedges under the portfolio layer method. As of March 31, 2026, the remaining unamortized basis adjustment totaled $0.8 million and represents an increase to the amortized cost of the previously hedged loans. See “Note 7. Derivative Instruments and Hedging Activities” for additional information.
December 31, 2025 Term Loans and Leases by Origination Year
20252024202320222021PriorTotal
Unsecured consumer
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 consumer (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
Current134,255 47,453 42,332 26,961 3,769 2,278 257,048 
30-59 days past due778 261 816 941 210 — 3,006 
60-89 days past due131 128 109 177 51 — 596 
90 or more days past due78 31 133 153 — — 395 
Total secured consumer135,242 47,873 43,390 28,232 4,030 2,278 261,045 
Total consumer loans held for investment at amortized cost
$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 7. 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:
March 31, 2026 Term Loans and Leases by Origination Year
2025202420232022PriorTotal
Guaranteed Amount (1)
Equipment finance
Pass $— $— $— $20,014 $10,404 $30,418 $— 
Special mention— — — 2,213 130 2,343 — 
Substandard — — — — 2,986 2,986 — 
Doubtful — — — 700 — 700 — 
Loss— — — — — — — 
Total equipment finance— — — 22,927 13,520 36,447 — 
Commercial real estate
Pass 97,110 36,217 63,170 93,309 151,904 441,710 29,944 
Special mention— — — — 6,020 6,020 — 
Substandard — — — 425 19,942 20,367 6,886 
Doubtful — — — — 60 60 — 
Loss— — — 1,121 670 1,791 1,542 
Total commercial real estate97,110 36,217 63,170 94,855 178,596 469,948 38,372 
Commercial and industrial
Pass 24,071 28,358 15,443 14,082 27,072 109,026 73,716 
Special mention— — — 4,641 402 5,043 3,915 
Substandard — 1,357 8,394 11,124 6,637 27,512 18,870 
Doubtful — — — 3,456 1,496 4,952 4,065 
Loss— 751 1,189 3,748 — 5,688 5,688 
Total commercial and industrial24,071 30,466 25,026 37,051 35,607 152,221 106,254 
Total commercial loans and leases held for investment at amortized cost
$121,181 $66,683 $88,196 $154,833 $227,723 $658,616 $144,626 
(1)    Represents loan balances guaranteed by the SBA.
December 31, 2025 Term Loans and Leases by Origination Year
20252024202320222021PriorTotal
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 estate95,736 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 industrial21,987 31,131 26,621 38,938 26,874 11,467 157,018 108,826 
Total commercial loans and leases held for investment at amortized cost
$117,723 $67,487 $90,371 $159,824 $73,459 $160,400 $669,264 $148,333 
(1)    Represents loan balances guaranteed by the SBA.

The following tables present loans and leases HFI at amortized cost within the commercial portfolio segment by delinquency status:
March 31, 2026
Current
30-59
Days		60-89
Days		90 or More
Days
Total
Equipment finance$32,824 $— $— $3,623 $36,447 
Commercial real estate459,254 — 399 10,295 469,948 
Commercial and industrial
127,020 3,662 1,417 20,122 152,221 
Total commercial loans and leases held for investment at amortized cost
$619,098 $3,662 $1,816 $34,040 $658,616 
December 31, 2025
Current
30-59
Days		60-89
Days		90 or More
Days
Total
Equipment finance$35,973 $696 $— $3,088 $39,757 
Commercial real estate461,307 — — 11,182 472,489 
Commercial and industrial
133,526 1,540 1,878 20,074 157,018 
Total commercial loans and leases held for investment at amortized cost
$630,806 $2,236 $1,878 $34,344 $669,264 
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:
Three Months Ended March 31,
20262025
Short-term payment reduction
$6,074 $7,010 
Permanent loan modification
1,893 1,693 
Debt settlement
2,597 3,432 
Total loan modifications – unsecured consumer loans
$10,564 $12,135 
% of unsecured consumer loans at amortized cost as of period end
0.4 %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 $14.0 million of loan balances at amortized cost outstanding as of March 31, 2026, 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 first quarter of 2026 and 2025, the weighted-average interest rate reduction under this program was approximately 9.0% and 8.5%, respectively. The weighted-average maturity date extension was approximately twelve months for both 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:
March 31, 2026March 31, 2025
Short-term Payment ReductionPermanent Loan ModificationDebt SettlementShort-term Payment ReductionPermanent Loan ModificationDebt Settlement
Unsecured consumer loans
Current$14,531 $5,719 $9 $18,894 $5,340 $32 
30-59 days1,410 112 6 1,654 175 24 
60-89 days968 87 652 1,169 174 837 
90 or more days755 65 1,976 1,024 112 2,628 
Total loan modifications$17,664 $5,983 $2,643 $22,741 $5,801 $3,521 

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:
Three Months Ended March 31,
20262025
Short-term payment reduction
$1,846 $2,586 
Permanent loan modification
439 522 
Debt settlement
8,668 13,336 
Total loan modifications – unsecured consumer loans
$10,953 $16,444 

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 HFI at amortized cost:
March 31, 2026December 31, 2025
Nonaccrual
Nonaccrual with no related ACL (1)
Nonaccrual
Nonaccrual with no related ACL (1)
Unsecured consumer
$15,952 $— $17,936 $— 
Residential mortgages299 299 431 431 
Secured consumer237 — 395 — 
Total nonaccrual consumer loans held for investment at amortized cost
16,488 299 18,762 431 
Equipment finance3,623 — 3,088 — 
Commercial real estate10,761 5,810 11,253 5,799 
Commercial and industrial27,854 10,590 27,329 10,137 
Total nonaccrual commercial loans and leases held for investment at amortized cost (2)
42,238 16,400 41,670 15,936 
Total nonaccrual loans and leases held for investment at amortized cost
$58,726 $16,699 $60,432 $16,367 
(1)    Subset of total nonaccrual loans and leases HFI at amortized cost.
(2)    Includes $29.5 million and $29.7 million in loan balances guaranteed by the SBA as of March 31, 2026 and December 31, 2025, respectively.

March 31, 2026December 31, 2025
Nonaccrual
Nonaccrual Ratios (1)
Nonaccrual
Nonaccrual Ratios (1)
Total nonaccrual consumer loans held for investment at amortized cost
$16,488 0.5 %$18,762 0.5 %
Total nonaccrual commercial loans and leases held for investment at amortized cost
42,238 6.4 %41,670 6.2 %
Total nonaccrual loans and leases held for investment at amortized cost
$58,726 1.6 %$60,432 1.4 %
(1)    Calculated as the ratio of nonaccrual loans and leases to loans and leases HFI at amortized cost.
v3.26.1
Fair Value Measurements
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
For a description of the fair value hierarchy and the Company’s fair value methodologies, see “Part II – Item 8. Financial Statements and Supplementary Data – Note 1. Summary of Significant Accounting Policies” in the Annual Report. 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:
March 31, 2026
Level 1
Level 2
Level 3
Balance at
Fair Value
Assets:
Loans held for sale at fair value$— $— $1,836,121 $1,836,121 
Loans held for investment at fair value
— — 1,237,850 1,237,850 
Securities available for sale:
Senior asset-backed securities related to Structured Program transactions— — 3,246,380 3,246,380 
Other asset-backed securities related to Structured Program transactions— — 238,349 238,349 
U.S. agency residential mortgage-backed securities— 228,900 — 228,900 
U.S. agency securities— 70,495 — 70,495 
Mortgage-backed securities— 54,824 — 54,824 
Municipal securities— 2,586 — 2,586 
Other securities
— 15,804 10,238 26,042 
Total securities available for sale— 372,609 3,494,967 3,867,576 
Servicing assets— — 67,078 67,078 
Other assets— 6,111 — 6,111 
Total assets$— $378,720 $6,636,016 $7,014,736 
Liabilities:
Other liabilities$— $2,338 $720 $3,058 
Total liabilities$— $2,338 $720 $3,058 
December 31, 2025
Level 1
Level 2
Level 3
Balance at
Fair Value
Assets:
Loans held for sale at fair value$— $— $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 

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 discounted cash flow (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 first quarter of 2026 or 2025.

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 the Company’s estimate of market participants’ 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:
March 31, 2026December 31, 2025
MinimumMaximum
Weighted-
Average (1)
MinimumMaximum
Weighted-
Average (1)
Discount rate6.8 %9.1 %7.3 %6.6 %9.0 %7.1 %
Annualized net credit loss rate
3.4 %15.4 %6.4 %3.3 %16.0 %6.3 %
Annualized prepayment rate
20.7 %26.2 %25.7 %20.5 %26.0 %25.5 %
(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:
March 31, 2026December 31, 2025
Loans held for sale at fair value
$1,836,121 $1,762,396 
Expected remaining weighted-average life (in years)
1.21.4
Discount rate:
100 basis point increase$(21,171)$(21,458)
200 basis point increase$(41,913)$(42,471)
Annualized net credit loss rate:
10% increase$(22,740)$(20,970)
20% increase$(45,297)$(41,766)
Annualized prepayment rate:
10% increase$(7,537)$(5,703)
20% increase$(14,154)$(10,546)
Fair Value Reconciliation

The following table presents HFS loans at fair value activity:
Three Months Ended
March 31,
20262025
Fair value at beginning of period$1,762,396 $636,352 
Originations
1,702,683 1,263,732 
Sales(1,384,274)(1,096,929)
Principal payments(186,421)(68,555)
Realized charge-offs, net of recoveries, recorded in earnings
(12,066)(6,704)
Fair value adjustments recorded in earnings(46,197)(24,518)
Fair value at end of period$1,836,121 $703,378 

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:
March 31, 2026December 31, 2025
Total90 or more
days past due		Total90 or more
days past due
Aggregate unpaid principal balance$1,892,826 $5,292 $1,795,818 $3,931 
Cumulative fair value adjustments(56,705)(4,260)(33,422)(3,176)
Fair value of loans held for sale
$1,836,121 $1,032 $1,762,396 $755 

Loans Held for Investment at Fair Value

Effective January 1, 2026, the Company elected the fair value option for HFI loans originated on or after that date. As a result, the current period includes all newly originated loans across multiple products, including unsecured consumer loans (personal loans and purchase finance loans), auto loans, and small business loans. In periods prior to this election, the Company’s HFI loan portfolio measured at fair value consisted solely of purchased unsecured personal loans that it had previously originated and sold. Accordingly, the significant unobservable inputs presented in the table below reflect a different loan product mix in the current period compared to the prior period.

Significant Unobservable Inputs

The following significant unobservable inputs were used in the fair value measurement of HFI loans:
March 31, 2026December 31, 2025
MinimumMaximum
Weighted-
Average (1)
MinimumMaximum
Weighted-
Average (1)
Discount rate5.2 %10.6 %7.0 %6.5 %8.5 %7.0 %
Annualized net charge-off rate
0.3 %14.9 %5.5 %4.1 %19.1 %7.4 %
Annualized prepayment rate
16.7 %44.7 %23.3 %19.6 %21.1 %20.0 %
(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 HFI loans at fair value to adverse changes in key assumptions was as follows:
March 31, 2026December 31, 2025
Loans held for investment at fair value$1,237,850 $473,314 
Expected remaining weighted-average life (in years)
1.30.7
Discount rate:
100 basis point increase$(15,470)$(2,832)
200 basis point increase$(30,504)$(5,633)
Annualized net credit loss rate:
10% increase$(13,888)$(5,738)
20% increase$(27,737)$(13,161)
Annualized prepayment rate:
10% increase$(6,131)$(2,490)
20% increase$(12,543)$(4,979)

Fair Value Reconciliation

The following table presents HFI loans at fair value activity:
Three Months Ended
March 31,
20262025
Fair value at beginning of period$473,314 $1,027,798 
Originations
947,201 — 
Purchases
27,635 12,744 
Principal payments(176,656)(218,460)
Realized charge-offs, net of recoveries, recorded in earnings
(3,601)(27,205)
Fair value adjustments recorded in earnings
(30,043)24,005 
Fair value at end of period$1,237,850 $818,882 

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:
March 31, 2026December 31, 2025
Total90 or more
days past due		Total90 or more
days past due
Aggregate unpaid principal balance$1,290,246 $4,487 $495,649 $5,177 
Cumulative fair value adjustments(52,396)(3,612)(22,335)(4,183)
Fair value of loans held for investment$1,237,850 $875 $473,314 $994 
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:
March 31, 2026December 31, 2025
MinimumMaximumWeighted-
Average		MinimumMaximumWeighted-
Average
Discount rate5.1 %6.5 %5.3 %5.0 %5.4 %5.2 %

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:
March 31, 2026December 31, 2025
Fair value of interests held$3,246,380 $3,092,410 
Expected remaining weighted-average life (in years)
1.11.1
Discount rate:
100 basis point increase$(35,075)$(32,467)
200 basis point increase$(70,149)$(64,934)

Fair Value Reconciliation

The following table presents senior asset-backed securities related to Structured Program transactions activity:
Three Months Ended
March 31,
20262025
Fair value at beginning of period$3,092,410 $2,899,824 
Additions626,590 324,116 
Cash received(461,147)(351,665)
Change in unrealized loss
(11,473)(2,994)
Fair value at end of period$3,246,380 $2,869,281 
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:
March 31, 2026December 31, 2025
MinimumMaximum
Weighted-
Average (1)
MinimumMaximum
Weighted-
Average (1)
Discount rate6.8 %8.7 %7.1 %6.6 %8.6 %6.9 %
Annualized net charge-off rate
3.3 %6.4 %5.4 %3.1 %6.2 %5.0 %
Annualized prepayment rate
22.0 %27.2 %26.0 %22.8 %27.4 %25.8 %
(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:
March 31, 2026December 31, 2025
Fair value of interests held$238,349 $219,370 
Expected remaining weighted-average life (in years)
1.11.2
Discount rate:
100 basis point increase$(2,495)$(2,285)
200 basis point increase$(4,942)$(4,529)
Annualized net charge-off rate:
10% increase$(2,431)$(2,077)
20% increase$(4,873)$(4,112)
Annualized prepayment rate:
10% increase$(1,074)$(674)
20% increase$(2,020)$(1,227)

Fair Value Reconciliation

The following table presents other asset-backed securities related to Structured Program transactions activity:
Three Months Ended
March 31,
20262025
Fair value at beginning of period$219,370 $169,948 
Additions52,958 24,886 
Cash received(32,776)(21,303)
Credit loss benefit (expense) for securities available for sale
277 (1,321)
Change in unrealized (loss) gain
(1,480)334 
Fair value at end of period$238,349 $172,544 
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:
March 31, 2026December 31, 2025
MinimumMaximumWeighted-
Average		MinimumMaximumWeighted-
Average
Discount rate8.9 %16.2 %10.3 %8.9 %16.2 %10.4 %
Annualized net charge-off rate (1)
3.4 %18.4 %6.1 %3.3 %19.5 %6.5 %
Annualized prepayment rate (1)
20.0 %26.5 %25.5 %19.9 %25.9 %24.6 %
Market servicing rate (2)
0.58 %0.58 %0.58 %0.58 %0.58 %0.58 %
(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:
March 31, 2026December 31, 2025
Fair value of servicing assets$67,078 $65,167 
Expected remaining weighted-average life (in years)
1.21.2
Discount rate:
100 basis point increase$(589)$(567)
200 basis point increase$(1,178)$(1,134)
Annualized net charge-off rate:
10% increase$(574)$(536)
20% increase$(1,148)$(1,071)
Annualized prepayment rate:
10% increase$(2,013)$(1,892)
20% increase$(4,025)$(3,785)
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:
March 31, 2026December 31, 2025
Weighted-average market servicing rate assumptions
0.58 %0.58 %
Change in fair value from:
Market servicing rate increase by 0.10%
$(7,451)$(7,289)
Market servicing rate decrease by 0.10%
$7,451 $7,289 

Fair Value Reconciliation

The following table presents servicing assets activity:
Three Months Ended
March 31,
20262025
Fair value at beginning of period$65,167 $60,697 
Issuances (1)
17,485 13,265 
Change in fair value (2)
(15,574)(17,058)
Fair value at end of period$67,078 $56,904 
(1)    Represents the servicing assets recorded when the loans are sold. Included in “Gain on sales of loans” on the Income Statement.
(2)    Included in “Net fair value adjustments” 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:
March 31, 2026Carrying Amount
Level 1
Level 2
Level 3
Balance at
Fair Value
Assets:
Loans and leases held for investment at amortized cost, net
$3,463,140 $— $— $3,673,022 $3,673,022 
Other assets50,514 — 50,375 139 50,514 
Total assets$3,513,654 $— $50,375 $3,673,161 $3,723,536 
Liabilities:
Deposits (1)
$2,536,168 $— $— $2,538,320 $2,538,320 
Other liabilities47,245 — 19,029 28,216 47,245 
Total liabilities$2,583,413 $— $19,029 $2,566,536 $2,585,565 
December 31, 2025Carrying Amount
Level 1
Level 2
Level 3
Balance at
Fair Value
Assets:
Loans and leases held for investment at amortized cost, net
$3,997,069 $— $— $4,251,852 $4,251,852 
Other assets47,470 — 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 liabilities40,931 — 11,926 29,005 40,931 
Total liabilities$2,475,353 $— $11,926 $2,466,214 $2,478,140 
(1)    Excludes deposit liabilities with no defined or contractual maturities.
v3.26.1
Structured Program Transactions and Variable Interest Entities
 3 Months Ended
Mar. 31, 2026
Transfers and Servicing [Abstract]  
Structured Program Transactions and Variable Interest Entities Structured Program Transactions and Variable Interest Entities
The Company’s VIEs relate to its Structured Program transactions. As of both March 31, 2026 and December 31, 2025, 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:
March 31, 2026December 31, 2025
Assets
Securities available for sale at fair value$3,484,729 $3,311,780 
Other assets56,684 53,660 
Total assets3,541,413 3,365,440 
Liabilities
Other liabilities355 1,023 
Total liabilities355 1,023 
Total net assets (maximum loss exposure)$3,541,058 $3,364,417 

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:
Three Months Ended
March 31,
20262025
Fair value of consideration received:
Cash$416,098 $148,379 
Net securities retained from Structured Program transactions635,132 349,002 
Other assets, net12,585 5,974 
Total consideration1,063,815 503,355 
Fair value of loans sold(1,051,786)(498,058)
Gain on sales of loans(1)
$12,029 $5,297 
Cash proceeds from continuing involvement:
Servicing and other administrative fees$11,350 $8,896 
Interest received on securities retained from Structured Program transactions$50,996 $51,134 
(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 March 31, 2026, the aggregate unpaid principal balance attributable to off-balance sheet loans held by unconsolidated VIEs was $4.7 billion, of which $65.2 million was 30 days or more past due. 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. 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.
v3.26.1
Derivative Instruments and Hedging Activities
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments and Hedging Activities 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

During the first quarter of 2026, the Company voluntarily de-designated all of its interest rate swaps previously designated as fair value hedges. Following de-designation, changes in the fair value of these derivatives are recorded in “Net fair value adjustments” on the Income Statement, and the remaining unamortized basis adjustments on the previously hedged items are amortized through interest income over the remaining life of the underlying instruments. As of March 31, 2026, the remaining unamortized basis adjustment totaled $0.8 million for previously hedged unsecured consumer loans and $0.4 million for previously hedged AFS securities.

The table below presents the notional and gross fair value amounts of the Company’s derivatives:
March 31, 2026December 31, 2025
Notional
Derivative Asset (1)
Derivative Liability (1)
Notional
Derivative Asset (1)
Derivative Liability (1)
Credit derivatives
$1,404 $— $(355)$3,737 $— $(1,327)
Interest rate contracts:
Interest rate caps675,000 4,430 — 325,000 528 — 
Interest rate swaps
1,325,000 966 (1,623)125,000 — (234)
Total interest rate contracts
$2,000,000 $5,396 $(1,623)$450,000 $528 $(234)
Total
$2,001,404 $5,396 $(1,978)$453,737 $528 $(1,561)
(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:
Three Months Ended
March 31,
20262025
Credit derivatives (1)
$289 $1,159 
Interest rate contracts (2)
2,901 (60)
Total gains
$3,190 $1,099 
(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 on the Income Statement.
(2)    Recorded in “Net fair value adjustments” on the Income Statement.

Derivatives Designated as Accounting Hedges

As of March 31, 2026, there were no derivatives designated as hedging instruments. Prior period amounts in the tables below reflect periods in which hedge accounting was applied.

The table below presents the notional and gross fair value amounts of the Company’s interest rate swaps that were designated as fair value hedges:
December 31, 2025
Notional
Derivative Asset (1)
Derivative Liability (1)
Unsecured consumer loans
$575,000 $81 $(1,566)
Securities available for sale
475,000 146 (774)
Total interest rate swaps
$1,050,000 $227 $(2,340)
(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 gain (loss) recognized on the Company’s fair value hedges:
Three Months Ended March 31, 2025
Unsecured consumer loans:
Hedged item
$253 
Derivatives
(278)
Interest settlement on derivative (1)
(535)
Total loss on hedged unsecured consumer loans (2)
(560)
Securities available for sale:
Hedged item
1,859 
Derivatives
(1,933)
Interest settlement on derivative (1)
616 
Total gain on hedged securities available for sale (3)
542 
Total loss on fair value hedges
$(18)
(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
Balance Sheet Line Item
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 
Securities available for sale$1,091,921 $727 
(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 consumer loans and AFS securities, designated as the hedged items in the portfolio layer hedging relationship, was $575.0 million and $475.0 million, respectively.
v3.26.1
Property, Equipment and Software, Net
 3 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
Property, Equipment and Software, Net Property, Equipment and Software, Net
Property, equipment and software, net, consist of the following:
March 31, 2026December 31, 2025
Software (1)
$275,472 $259,773 
Land, building and building improvements (2)
95,932 81,601 
Leasehold improvements30,686 30,686 
Computer equipment
7,498 5,829 
Furniture and fixtures7,459 5,554 
Total property, equipment and software417,047 383,443 
Accumulated depreciation and amortization(143,575)(129,355)
Total property, equipment and software, net$273,472 $254,088 
(1)    Includes $36.5 million and $28.3 million of development in progress for internally-developed software and $6.7 million and $6.8 million of development in progress to customize purchased software as of March 31, 2026 and December 31, 2025, respectively.
(2)    Includes $22.0 million and $7.7 million of building improvements in progress as of March 31, 2026 and December 31, 2025, respectively.

Depreciation and amortization expense on property, equipment and software was $15.1 million and $13.1 million for the first quarter of 2026 and 2025, respectively.
v3.26.1
Goodwill and Intangible Assets
 3 Months Ended
Mar. 31, 2026
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill

The Company’s goodwill balance was $75.7 million as of both March 31, 2026 and December 31, 2025. The Company did not record any goodwill impairment expense during the first quarter of 2026 and 2025. 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 “Part II – Item 8. Financial Statements and Supplementary Data – Note 1. Summary of Significant Accounting Policies” in the Annual Report.
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:
March 31, 2026December 31, 2025
Gross carrying value$56,490 $56,490 
Accumulated amortization(49,813)(49,071)
Net carrying value$6,677 $7,419 

Amortization expense associated with intangible assets for the first quarter of 2026 and 2025 was $0.7 million and $0.8 million, respectively. There was no impairment loss for the first quarter of 2026 and 2025.

The expected future amortization expense for intangible assets as of March 31, 2026, is as follows:
2026$1,894 
20271,943 
20281,179 
2029729 
2030
456 
Thereafter476 
Total$6,677 
v3.26.1
Other Assets
 3 Months Ended
Mar. 31, 2026
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Other Assets Other Assets
Other assets consist of the following:
March 31, 2026December 31, 2025
Deferred tax assets, net (1)
$96,594 $96,159 
Servicing assets (2)
67,217 65,326 
Nonmarketable equity investments48,605 48,462 
Accrued interest receivable
45,003 43,918 
Operating lease assets10,761 12,942 
Intangible assets, net (3)
6,677 7,419 
Other89,244 93,860 
Total other assets$364,101 $368,086 
(1)    See “Note 15. Income Taxes” for additional detail.
(2)    Loans underlying servicing assets had a total outstanding principal balance of $7.8 billion and $7.6 billion as of March 31, 2026 and December 31, 2025, respectively.
(3)    See “Note 9. Goodwill and Intangible Assets” for additional detail.
v3.26.1
Deposits
 3 Months Ended
Mar. 31, 2026
Other Liabilities Disclosure [Abstract]  
Deposits Deposits
Deposits consist of the following:
March 31, 2026December 31, 2025
Interest-bearing deposits:
Savings and money market accounts$6,814,486 $6,599,737 
Certificates of deposit
2,536,168 2,434,422 
Checking accounts430,914 425,324 
Total9,781,568 9,459,483 
Noninterest-bearing deposits407,943 374,387 
Total deposits$10,189,511 $9,833,870 

Total certificates of deposit at March 31, 2026 are scheduled to mature as follows:
2026$2,150,055 
2027367,690 
20286,159 
202910,376 
20301,249 
Thereafter639 
Total certificates of deposit (1)
$2,536,168 
(1)    Certificates of deposit in excess of the FDIC insurance limit of $250 thousand per account holder totaled $129.4 million at March 31, 2026.
v3.26.1
Borrowings
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Borrowings Borrowings
The Company did not have any debt outstanding as of March 31, 2026 or December 31, 2025.

Borrowing Capacity

The following table summarizes the Company’s available borrowing capacity and the related pledged collateral:
March 31, 2026December 31, 2025
Available Borrowing Capacity
Pledged Collateral (1)
Available Borrowing Capacity
Pledged Collateral (2)
FRB Discount Window$3,011,674 $3,882,429 $3,294,827 $4,245,845 
FHLB of Des Moines
672,717 864,749 679,361 861,913 
Total
$3,684,391 $4,747,178 $3,974,188 $5,107,758 
(1)    As of March 31, 2026, the Company had $3.9 billion in loans pledged under the Federal Reserve System (FRB) Discount Window, and $501.1 million in loans and $363.7 million in securities available for sale at fair value pledged to the Federal Home Loan Bank (FHLB) of Des Moines.
(2)    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.
v3.26.1
Other Liabilities
 3 Months Ended
Mar. 31, 2026
Other Liabilities [Abstract]  
Other Liabilities Other Liabilities
Other liabilities consist of the following:
March 31, 2026December 31, 2025
Accounts payable and accrued expenses$83,043 $87,341 
Due to borrowers (1)
47,258 60,254 
Payable to investors (2)
19,029 11,926 
Operating lease liabilities12,481 15,826 
Other64,989 58,171 
Total other liabilities$226,800 $233,518 
(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.
v3.26.1
Equity
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
Equity Equity
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 first quarter of 2026, the Company repurchased 746,807 shares of LendingClub common stock on the open market at an average price of $16.86 per share and retired those shares upon repurchase.

Employee Incentive Plans

The Company’s equity incentive plans provide for granting awards, including restricted stock units (RSUs), performance-based restricted stock units (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:
Three Months Ended
March 31,
20262025
RSUs
$7,529 $9,074 
PBRSUs1,005 847 
Stock-based compensation expense, gross8,534 9,921 
Less: Capitalized stock-based compensation expense960 1,402 
Stock-based compensation expense, net$7,574 $8,519 
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, 2025
4,278,687 $10.73 
Granted1,646,297 $15.14 
Vested(1,221,551)$8.86 
Forfeited
(141,344)$11.06 
Unvested at March 31, 2026
4,562,089 $12.81 

During the first quarter of 2026, the Company granted 1,646,297 RSUs with an aggregate fair value of $24.9 million.

As of March 31, 2026, there was $52.6 million of unrecognized compensation cost related to unvested RSUs, which is expected to be recognized over a weighted-average period of approximately 2.0 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, 2025
1,160,819 $8.86 
Granted641,982 $14.72 
Vested(485,134)$7.62 
Unvested at March 31, 2026
1,317,667 $12.17 

During the first quarter of 2026, the Company granted 641,982 PBRSUs with an aggregate fair value of $9.3 million.

As of March 31, 2026, there was $11.7 million of unrecognized compensation cost related to unvested PBRSUs, which is expected to be recognized over a weighted-average period of approximately 2.0 years, subject to any forfeitures.
v3.26.1
Income Taxes
 3 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
For the first quarter of 2026, the Company recorded an income tax expense of $15.7 million, representing an effective tax rate of 23.4%. For the first quarter of 2025, the Company recorded an income tax expense of $4.0 million, representing an effective tax rate of 25.6%. The effective tax rate differs from the federal statutory rate primarily due to state taxes, the favorable impact of recurring items such as tax credits, the unfavorable impact of the non-deductible portions of executive compensation, and the net discrete impact of stock-based compensation. The decrease in the effective tax rate period over period was primarily driven by a reduction in the overall effective state tax rate resulting from California Senate Bill 132, which was signed into law on June 27, 2025, requires a single-sales-factor apportionment formula for banks and financial companies, and is effective for tax years beginning in 2025.

The following table summarizes the Company’s net deferred tax assets:
March 31, 2026December 31, 2025
Deferred tax assets, net of liabilities$144,641 $144,206 
Valuation allowance(48,047)(48,047)
Deferred tax assets, net of valuation allowance$96,594 $96,159 
v3.26.1
Leases
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Leases Leases
Lessee Arrangements

Following the expiration of its prior headquarters lease, the Company relocated its headquarters in April 2026 to an office building in San Francisco, California that it acquired in the previous year.

The Company has various operating leases for office space in the Salt Lake City, Utah area, Boston, Massachusetts, and New York, New York, with remaining lease terms ranging from approximately two to three years as of March 31, 2026.

Balance sheet information related to leases was as follows:
ROU Assets and Lease LiabilitiesBalance Sheet ClassificationMarch 31, 2026December 31, 2025
Operating lease assetsOther assets$10,761 $12,942 
Operating lease liabilitiesOther liabilities$12,481 $15,826 

Net lease costs were $2.8 million and $2.7 million during the first quarter of 2026 and 2025, respectively. Such costs are recorded within “Occupancy” expense on the Income Statement.
The Company’s future minimum undiscounted lease payments under operating leases as of March 31, 2026 were as follows:
Operating Lease Payments
2026$4,469 
20275,010 
20284,046 
2029909 
Total lease payments$14,434 
Discount effect(1,953)
Present value of future minimum lease payments$12,481 

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 RateMarch 31, 2026December 31, 2025
Weighted-average remaining lease term (in years)2.782.64
Weighted-average discount rate4.39 %4.56 %

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 extending until 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:
Three Months Ended
March 31,
20262025
Rental income (1)
$1,992 $— 
(1)    Recorded in “Other non-interest income” on the Income Statement.

Future fixed lease payments to be received by the Company as of March 31, 2026, under non-cancelable operating leases, were as follows:
2026$3,302 
20273,356 
20282,460 
20291,932 
20301,990 
Thereafter6,215 
Total lease payments
$19,255 
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:
Three Months Ended
March 31,
20262025
Interest earned (1)
$520 $847 
(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:
March 31, 2026December 31, 2025
Lease receivables$21,352 $25,384 
Unguaranteed residual asset values18,238 17,907 
Unearned income(3,273)(3,690)
Deferred costs
130 156 
Total$36,447 $39,757 

Future minimum lease payments based on maturity of the Company’s sales-type leases as of March 31, 2026 were as follows:
2026$9,399 
20277,479 
20283,715 
20291,434 
Total lease payments$22,027 
Discount effect(675)
Present value of future minimum lease payments$21,352 
Leases Leases
Lessee Arrangements

Following the expiration of its prior headquarters lease, the Company relocated its headquarters in April 2026 to an office building in San Francisco, California that it acquired in the previous year.

The Company has various operating leases for office space in the Salt Lake City, Utah area, Boston, Massachusetts, and New York, New York, with remaining lease terms ranging from approximately two to three years as of March 31, 2026.

Balance sheet information related to leases was as follows:
ROU Assets and Lease LiabilitiesBalance Sheet ClassificationMarch 31, 2026December 31, 2025
Operating lease assetsOther assets$10,761 $12,942 
Operating lease liabilitiesOther liabilities$12,481 $15,826 

Net lease costs were $2.8 million and $2.7 million during the first quarter of 2026 and 2025, respectively. Such costs are recorded within “Occupancy” expense on the Income Statement.
The Company’s future minimum undiscounted lease payments under operating leases as of March 31, 2026 were as follows:
Operating Lease Payments
2026$4,469 
20275,010 
20284,046 
2029909 
Total lease payments$14,434 
Discount effect(1,953)
Present value of future minimum lease payments$12,481 

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 RateMarch 31, 2026December 31, 2025
Weighted-average remaining lease term (in years)2.782.64
Weighted-average discount rate4.39 %4.56 %

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 extending until 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:
Three Months Ended
March 31,
20262025
Rental income (1)
$1,992 $— 
(1)    Recorded in “Other non-interest income” on the Income Statement.

Future fixed lease payments to be received by the Company as of March 31, 2026, under non-cancelable operating leases, were as follows:
2026$3,302 
20273,356 
20282,460 
20291,932 
20301,990 
Thereafter6,215 
Total lease payments
$19,255 
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:
Three Months Ended
March 31,
20262025
Interest earned (1)
$520 $847 
(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:
March 31, 2026December 31, 2025
Lease receivables$21,352 $25,384 
Unguaranteed residual asset values18,238 17,907 
Unearned income(3,273)(3,690)
Deferred costs
130 156 
Total$36,447 $39,757 

Future minimum lease payments based on maturity of the Company’s sales-type leases as of March 31, 2026 were as follows:
2026$9,399 
20277,479 
20283,715 
20291,434 
Total lease payments$22,027 
Discount effect(675)
Present value of future minimum lease payments$21,352 
Leases Leases
Lessee Arrangements

Following the expiration of its prior headquarters lease, the Company relocated its headquarters in April 2026 to an office building in San Francisco, California that it acquired in the previous year.

The Company has various operating leases for office space in the Salt Lake City, Utah area, Boston, Massachusetts, and New York, New York, with remaining lease terms ranging from approximately two to three years as of March 31, 2026.

Balance sheet information related to leases was as follows:
ROU Assets and Lease LiabilitiesBalance Sheet ClassificationMarch 31, 2026December 31, 2025
Operating lease assetsOther assets$10,761 $12,942 
Operating lease liabilitiesOther liabilities$12,481 $15,826 

Net lease costs were $2.8 million and $2.7 million during the first quarter of 2026 and 2025, respectively. Such costs are recorded within “Occupancy” expense on the Income Statement.
The Company’s future minimum undiscounted lease payments under operating leases as of March 31, 2026 were as follows:
Operating Lease Payments
2026$4,469 
20275,010 
20284,046 
2029909 
Total lease payments$14,434 
Discount effect(1,953)
Present value of future minimum lease payments$12,481 

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 RateMarch 31, 2026December 31, 2025
Weighted-average remaining lease term (in years)2.782.64
Weighted-average discount rate4.39 %4.56 %

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 extending until 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:
Three Months Ended
March 31,
20262025
Rental income (1)
$1,992 $— 
(1)    Recorded in “Other non-interest income” on the Income Statement.

Future fixed lease payments to be received by the Company as of March 31, 2026, under non-cancelable operating leases, were as follows:
2026$3,302 
20273,356 
20282,460 
20291,932 
20301,990 
Thereafter6,215 
Total lease payments
$19,255 
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:
Three Months Ended
March 31,
20262025
Interest earned (1)
$520 $847 
(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:
March 31, 2026December 31, 2025
Lease receivables$21,352 $25,384 
Unguaranteed residual asset values18,238 17,907 
Unearned income(3,273)(3,690)
Deferred costs
130 156 
Total$36,447 $39,757 

Future minimum lease payments based on maturity of the Company’s sales-type leases as of March 31, 2026 were as follows:
2026$9,399 
20277,479 
20283,715 
20291,434 
Total lease payments$22,027 
Discount effect(675)
Present value of future minimum lease payments$21,352 
v3.26.1
Commitments and Contingencies
 3 Months Ended
Mar. 31, 2026
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 16. 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 March 31, 2026 and December 31, 2025, the contractual amount of unfunded lending commitments totaled $91.1 million and $98.2 million, respectively, of which $44.1 million and $52.0 million, respectively, are commitments for loans (at amortized cost) to be funded. See “Note 4. Loans” for additional detail related to 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 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.
v3.26.1
Regulatory Requirements
 3 Months Ended
Mar. 31, 2026
Regulated Operations [Abstract]  
Regulatory Requirements 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, stock 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 March 31, 2026 and December 31, 2025, 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 March 31, 2026 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):
March 31, 2026December 31, 2025
Required Minimum (1)
Well-Capitalized Minimum
AmountRatioAmountRatio
LendingClub Corporation:
CET1 capital (2)
$1,376.8 17.0 %$1,342.6 17.4 %7.0 %N/A
Tier 1 capital$1,376.8 17.0 %$1,342.6 17.4 %8.5 %6.0 %
Total capital$1,479.7 18.3 %$1,441.0 18.7 %10.5 %10.0 %
Tier 1 leverage$1,376.8 11.9 %$1,342.6 12.0 %4.0 %N/A
Risk-weighted assets$8,093.4 N/A$7,696.1 N/AN/AN/A
Quarterly adjusted average assets$11,523.0 N/A$11,174.0 N/AN/AN/A
LendingClub Bank:
CET1 capital (2)
$1,246.2 15.5 %$1,183.9 15.5 %7.0 %6.5 %
Tier 1 capital$1,246.2 15.5 %$1,183.9 15.5 %8.5 %8.0 %
Total capital$1,348.5 16.8 %$1,281.8 16.8 %10.5 %10.0 %
Tier 1 leverage$1,246.2 10.9 %$1,183.9 10.7 %4.0 %5.0 %
Risk-weighted assets$8,050.2 N/A$7,652.0 N/AN/AN/A
Quarterly adjusted average assets$11,448.5 N/A$11,090.4 N/AN/AN/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 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.
v3.26.1
Segment Reporting
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting 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
Three Months Ended March 31,202620252026202520262025
Interest income:
Interest income$260,945 $231,755 $262 $304 $261,207 $232,059 
Interest expense(84,973)(82,102)— — (84,973)(82,102)
Net interest income175,972 149,653 262 304 176,234 149,957 
Non-interest income:
Origination fees(1)
129,988 69,933 100 11 130,088 69,944 
Servicing fees(1)
5,342 198 4,991 4,912 10,333 5,110 
Gain on sales of loans(1)
16,269 12,202 — — 16,269 12,202 
Net fair value adjustments(1)
(89,666)(30,123)741 872 (88,925)(29,251)
Other non-interest income11,130 12,941 2,128 1,991 13,258 14,932 
Total non-interest income73,063 65,151 7,960 7,786 81,023 72,937 
Total net revenue249,035 214,804 8,222 8,090 257,257 222,894 
Provision for credit losses(390)(58,149)— — (390)(58,149)
Non-interest expense:
Compensation and benefits(64,095)(56,863)(1,419)(1,526)(65,514)(58,389)
Marketing(55,415)(29,239)— — (55,415)(29,239)
Equipment and software(15,293)(14,619)— (25)(15,293)(14,644)
Depreciation and amortization(14,992)(12,543)(827)(1,366)(15,819)(13,909)
Professional services(11,687)(9,637)(80)(127)(11,767)(9,764)
Occupancy(3,971)(2,401)(2,420)(1,944)(6,391)(4,345)
Other non-interest expense(17,296)(14,447)(2,044)(4,313)(19,340)(18,760)
Total non-interest expense(182,749)(139,749)(6,790)(9,301)(189,539)(149,050)
Income tax benefit (expense)(14,895)(4,872)(830)848 (15,725)(4,024)
Net income (loss) (2)
$51,001 $12,034 $602 $(363)$51,603 $11,671 
Capital expenditures$25,784 $13,066 $— $— $25,784 $13,066 
(1)    Prior period amounts have been reclassified to conform to the current period presentation. See “Note 1. Summary of Significant Accounting Policies” for additional information.
(2)    Total net income from reportable segments reflects net income on a consolidated basis.

Three Months Ended
March 31,
20262025
Total net revenue – reportable segments$257,257 $222,894 
Intercompany eliminations(5,006)(5,183)
Total net revenue – consolidated$252,251 $217,711 

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
 March 31, 2026December 31, 2025March 31, 2026December 31, 2025March 31, 2026December 31, 2025
Assets
Total cash and cash equivalents$782,503 $901,246 $106,860 $127,087 $889,363 $1,028,333 
Restricted cash— — 25,589 16,659 25,589 16,659 
Securities available for sale at fair value3,857,338 3,696,626 10,238 10,083 3,867,576 3,706,709 
Loans held for sale at fair value1,836,121 1,762,396 — — 1,836,121 1,762,396 
Loans held for investment at fair value
1,237,093 472,301 757 1,013 1,237,850 473,314 
Loans and leases held for investment at amortized cost, net
3,463,140 3,997,069 — — 3,463,140 3,997,069 
Property, equipment and software, net270,122 250,168 3,350 3,920 273,472 254,088 
Investment in subsidiary— — 919,364 903,339 919,364 903,339 
Goodwill75,717 75,717 — — 75,717 75,717 
Other assets323,674 316,488 37,554 72,323 361,228 388,811 
Total assets11,845,708 11,472,011 1,103,712 1,134,424 12,949,420 12,606,435 
Liabilities and Equity
Total deposits10,282,601 9,948,426 — — 10,282,601 9,948,426 
Other liabilities200,976 217,930 22,951 36,313 223,927 254,243 
Total liabilities10,483,577 10,166,356 22,951 36,313 10,506,528 10,202,669 
Total equity1,362,131 1,305,655 1,080,761 1,098,111 2,442,892 2,403,766 
Total liabilities and equity$11,845,708 $11,472,011 $1,103,712 $1,134,424 $12,949,420 $12,606,435 

March 31, 2026December 31, 2025
Total assets – reportable segments$12,949,420 $12,606,435 
Intercompany eliminations(1,009,581)(1,038,619)
Total assets – consolidated$11,939,839 $11,567,816 

March 31, 2026December 31, 2025
Total liabilities and equity – reportable segments$12,949,420 $12,606,435 
Intercompany eliminations – liabilities(90,217)(135,281)
Intercompany eliminations – equity(919,364)(903,338)
Total liabilities and equity – consolidated$11,939,839 $11,567,816 

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.
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2026
shares
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 first quarter of 2026:
Name and Title
Adoption Date
Expiration Date
Aggregate Number of Shares to be Sold
Scott Sanborn, Chief Executive Officer and Director
March 3, 2026September 3, 2026
Up to 210,417
Fergal Stack, Principal Accounting Officer
February 17, 2026August 17, 2026
Up to 110,000
Andrew LaBenne, Chief Financial Officer
February 17, 2026February 1, 2027
Up to 43,929
Jordan Cheng, General Counsel and Corporate Secretary
February 17, 2026August 17, 2026
Up to 21,500
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
Scott Sanborn [Member]  
Trading Arrangements, by Individual  
Name Scott Sanborn
Title Chief Executive Officer and Director
Rule 10b5-1 Arrangement Adopted true
Adoption Date March 3, 2026
Expiration Date September 3, 2026
Arrangement Duration 184 days
Aggregate Available 210,417
Fergal Stack [Member]  
Trading Arrangements, by Individual  
Name Fergal Stack
Title Principal Accounting Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date February 17, 2026
Expiration Date August 17, 2026
Arrangement Duration 181 days
Aggregate Available 110,000
Andrew LaBenne [Member]  
Trading Arrangements, by Individual  
Name Andrew LaBenne
Title Chief Financial Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date February 17, 2026
Expiration Date February 1, 2027
Arrangement Duration 349 days
Aggregate Available 43,929
Jordan Cheng [Member]  
Trading Arrangements, by Individual  
Name Jordan Cheng
Title General Counsel and Corporate Secretary
Rule 10b5-1 Arrangement Adopted true
Adoption Date February 17, 2026
Expiration Date August 17, 2026
Arrangement Duration 181 days
Aggregate Available 21,500
v3.26.1
Summary of Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 31, 2026
Accounting Policies [Abstract]  
Basis of Presentation
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).
These condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) for interim financial information 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 All intercompany balances and transactions have been eliminated in consolidation.
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.
Reclassifications
The Company made the following presentation changes in the condensed consolidated financial statements and accompanying notes during the first quarter of 2026:

•The components previously aggregated under “Marketplace revenue” on the Condensed Consolidated Statements of Income (Income Statement), namely “Origination fees,” “Servicing fees,” “Gain on sales of loans,” and “Net fair value adjustments,” are now presented as separate line items on the Income Statement.

•“Interest on loans held for sale,” “Interest and fees on loans and leases held for investment,” and “Interest on loans held for investment at fair value,” which previously appeared as separate line items on the Income Statement, have been combined into a single line item titled “Interest on loans.”

In all instances, the respective prior period amounts have been reclassified to conform to the current period presentation.
Election of Fair Value Option
Election of Fair Value Option

Effective January 1, 2026, the Company elected the fair value option to account for held for investment (HFI) loans that were originated on or after that date. Prior to this election, loans that were originated as HFI were, and will continue to be, accounted for at amortized cost, which required the initial recognition of a CECL allowance for lifetime expected credit losses, recognized within “Provision for credit losses” on the Income Statement. The Company believes that applying the fair value option, rather than amortized cost accounting with 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. Fair value adjustments on loans are also recognized in current period earnings within “Net fair value adjustments” and include the impact of credit losses that previously would have been recognized within “Provision for credit losses” under CECL. Further, by applying the fair value option to HFI loans, the Company is applying the same accounting methodology to all loans it originates on or after January 1, 2026, as both HFI and held for sale (HFS) loans will be measured at fair value.
Adoption of New Accounting Standards
Adoption of New Accounting Standards

The Company did not adopt new accounting standards during the three months ended March 31, 2026.

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 270) – Narrow-Scope Improvements, which improves the navigability of the required interim disclosures and clarifies when the guidance is applicable. The amendments also provide guidance on what disclosures are required during the interim reporting periods. Additionally, the amendments also include 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.
v3.26.1
Earnings Per Share (Tables)
 3 Months Ended
Mar. 31, 2026
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 earnings per share (EPS):
Three Months Ended
March 31,
20262025
Basic EPS:
Net income
$51,603 $11,671 
Weighted-average common shares – Basic115,400,564 113,693,399 
Basic EPS$0.45 $0.10 
Diluted EPS:
Net income
$51,603 $11,671 
Weighted-average common shares – Diluted117,333,435 116,176,898 
Diluted EPS$0.44 $0.10 
v3.26.1
Securities Available for Sale (Tables)
 3 Months Ended
Mar. 31, 2026
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 available for sale (AFS) securities were as follows:
March 31, 2026Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses
Allowance
for Credit Losses
Fair
Value
Senior asset-backed securities related to Structured Program transactions (1)
$3,231,328 $16,760 $(1,708)$— $3,246,380 
Other asset-backed securities related to Structured Program transactions (2)
244,984 56 (2,875)(3,816)238,349 
U.S. agency residential mortgage-backed securities261,505 260 (32,865)— 228,900 
U.S. agency securities81,466 — (10,971)— 70,495 
Mortgage-backed securities59,963 86 (5,225)— 54,824 
Municipal securities3,210 — (624)— 2,586 
Other securities
26,378 53 (389)— 26,042 
Total securities available for sale
$3,908,834 $17,215 $(54,657)$(3,816)$3,867,576 
December 31, 2025Amortized
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 
Other asset-backed securities related to Structured Program transactions (2)
224,802 28 (1,367)(4,093)219,370 
U.S. agency residential mortgage-backed securities267,853 504 (32,296)— 236,061 
U.S. agency securities84,464 — (10,602)— 73,862 
Mortgage-backed securities60,423 135 (4,961)— 55,597 
Municipal securities3,215 — (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 
(1)    Excludes the basis adjustment for securities previously designated in fair value hedges under the portfolio layer method. See “Note 7. Derivative Instruments and Hedging Activities” for additional information.
(2)    As of March 31, 2026 and December 31, 2025, $212.1 million and $200.0 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.
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
March 31, 2026Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses		Fair
Value		Unrealized
Losses
Senior asset-backed securities related to Structured Program transactions$791,709 $(1,708)$— $— $791,709 $(1,708)
U.S. agency residential mortgage-backed securities32,769 (463)176,907 (32,402)209,676 (32,865)
Other asset-backed securities related to Structured Program transactions166,950 (2,875)— — 166,950 (2,875)
U.S. agency securities— — 70,495 (10,971)70,495 (10,971)
Mortgage-backed securities12,074 (106)30,886 (5,119)42,960 (5,225)
Municipal securities— — 2,586 (624)2,586 (624)
Other securities
1,327 (11)9,060 (378)10,387 (389)
Total securities with unrealized losses$1,004,829 $(5,163)$289,934 $(49,494)$1,294,763 $(54,657)
Less than
12 months		12 months
or longer		Total
December 31, 2025Fair
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 transactions95,494 (1,034)23,719 (333)119,213 (1,367)
U.S. agency securities— — 73,862 (10,602)73,862 (10,602)
Mortgage-backed securities1,874 (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)
Schedule of Activity in Credit Valuation Allowance for AFS Securities
The following table presents the activity in the allowance for credit losses (ACL) for AFS securities, by security type:

Three Months Ended
March 31,
20262025
Other asset-backed securities related to Structured Program transactions:
Allowance for credit losses, beginning of period
$4,093 $3,527 
Credit loss (benefit) expense for securities available for sale
(277)1,321 
Allowance for credit losses, end of period
$3,816 $4,848 
Schedule of Contractual Maturities of AFS Securities
The contractual maturities of AFS securities were as follows:
March 31, 2026Amortized CostFair Value
Weighted-
average
Yield (1)
Due within 1 year:
U.S. agency securities$3,000 $2,979 
Total due within 1 year3,000 2,979 3.00 %
Due after 1 year through 5 years:
Senior asset-backed securities related to Structured Program transactions3,231,328 3,246,380 
Other asset-backed securities related to Structured Program transactions244,984 238,349 
Mortgage-backed securities2,534 2,387 
U.S. agency securities1,850 1,799 
Municipal securities
458 427 
U.S. agency residential mortgage-backed securities110 105 
Other securities10,286 10,286 
Total due after 1 year through 5 years3,491,550 3,499,733 6.05 %
Due after 5 years through 10 years:
U.S. agency securities34,463 30,464 
U.S. agency residential mortgage-backed securities2,543 2,457 
Mortgage-backed securities871 771 
Municipal securities154 139 
Other securities
9,045 9,069 
Total due after 5 years through 10 years47,076 42,900 3.91 %
Due after 10 years:
U.S. agency residential mortgage-backed securities258,852 226,338 
Mortgage-backed securities56,558 51,666 
U.S. agency securities42,153 35,253 
Municipal securities2,598 2,020 
Other securities
7,047 6,687 
Total due after 10 years367,208 321,964 3.12 %
Total securities available for sale$3,908,834 $3,867,576 5.74 %
(1)    The weighted-average yield is computed using the average month-end amortized cost during the three months ended March 31, 2026.
v3.26.1
Loans (Tables)
 3 Months Ended
Mar. 31, 2026
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 Company’s loan portfolios consist of the following:
March 31, 2026December 31, 2025
Loans held for sale at fair value$1,836,121 $1,762,396 
Loans held for investment at fair value1,237,850 473,314 
Total loans at fair value3,073,971 2,235,710 
Loans and leases held for investment at amortized cost, net3,463,140 3,997,069 
Total loans and leases$6,537,111 $6,232,779 
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:
March 31, 2026December 31, 2025
Unsecured consumer
$2,669,063 $3,191,430 
Residential mortgages149,474 151,073 
Secured consumer223,684 261,045 
Total consumer loans held for investment at amortized cost
3,042,221 3,603,548 
Equipment finance (1)
36,447 39,757 
Commercial real estate (2)
469,948 472,489 
Commercial and industrial152,221 157,018 
Total commercial loans and leases held for investment at amortized cost
658,616 669,264 
Total loans and leases held for investment at amortized cost (3)
3,700,837 4,272,812 
Allowance for loan and lease losses(237,697)(275,743)
Loans and leases held for investment at amortized cost, net
$3,463,140 $3,997,069 
(1)    Comprised of sales-type leases for equipment. See “Note 16. Leases” for additional information.
(2)    Includes $285.3 million and $286.8 million in loans originated through the Small Business Administration (SBA) as of March 31, 2026 and December 31, 2025, respectively.
(3)    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 $15.5 million and $17.9 million as of March 31, 2026 and December 31, 2025, respectively.

The following table presents the components of the allowance for loan and lease losses (ALLL):
March 31, 2026December 31, 2025
Gross allowance for loan and lease losses (1)
$274,256 $312,667 
Recovery asset value (2)
(36,559)(36,924)
Allowance for loan and lease losses$237,697 $275,743 
(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.
March 31, 2026ConsumerCommercialTotal
Loans and leases held for investment at amortized cost
$3,042,221 $658,616 $3,700,837 
Allowance for loan and lease losses$221,196 $16,501 $237,697 
Allowance ratio (1)
7.3 %2.5 %6.4 %
Gross allowance for loan and lease losses$257,755 $16,501 $274,256 
Gross allowance ratio (1)
8.5 %2.5 %7.4 %
December 31, 2025ConsumerCommercialTotal
Loans and leases held for investment at amortized cost
$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 %
(1)    Calculated as ALLL or gross ALLL, where applicable, to the corresponding portfolio segment balance of loans and leases HFI 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:
March 31, 2026December 31, 2025
Total90 or more
days past due		Total90 or more
days past due
Aggregate unpaid principal balance$1,892,826 $5,292 $1,795,818 $3,931 
Cumulative fair value adjustments(56,705)(4,260)(33,422)(3,176)
Fair value of loans held for sale
$1,836,121 $1,032 $1,762,396 $755 
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:
March 31, 2026December 31, 2025
Total90 or more
days past due		Total90 or more
days past due
Aggregate unpaid principal balance$1,290,246 $4,487 $495,649 $5,177 
Cumulative fair value adjustments(52,396)(3,612)(22,335)(4,183)
Fair value of loans held for investment$1,237,850 $875 $473,314 $994 
Schedule of Activity in the ACL by Portfolio Segment
The activity in the ACL by portfolio segment was as follows:
Three Months Ended March 31,
20262025
ConsumerCommercialTotalConsumerCommercialTotal
Allowance for loan and lease losses:
Beginning of period
$258,811 $16,932 $275,743 $212,598 $24,136 $236,734 
Credit loss expense (benefit)
1,401 (555)846 55,948 434 56,382 
Charge-offs (1)
(52,644)(126)(52,770)(58,344)(8,232)(66,576)
Recoveries13,628 250 13,878 17,406 247 17,653 
End of period
$221,196 $16,501 $237,697 $227,608 $16,585 $244,193 
Reserve for unfunded lending commitments:
Beginning of period
$— $1,009 $1,009 $— $1,183 $1,183 
Credit loss (benefit) expense
— (179)(179)— 446 446 
End of period (2)
$— $830 $830 $— $1,629 $1,629 
(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 $44.1 million and $96.3 million of unfunded commitments as of March 31, 2026 and 2025, 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 first quarter of 2026:
Gross Charge-Offs by Origination Year
2025202420232022PriorTotal
Unsecured consumer (1)
$18,770 $16,124 $7,933 $7,483 $1,437 $51,747 
Residential mortgages— — — — — — 
Secured consumer274 111 241 225 46 897 
Total consumer loans held for investment at amortized cost
19,044 16,235 8,174 7,708 1,483 52,644 
Equipment finance— — — — — — 
Commercial real estate— — — — — — 
Commercial and industrial— — — 126 — 126 
Total commercial loans and leases held for investment at amortized cost
— — — 126 — 126 
Total loans and leases held for investment at amortized cost
$19,044 $16,235 $8,174 $7,834 $1,483 $52,770 
(1)    Unsecured consumer 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:
March 31, 2026 Term Loans and Leases by Origination Year
2025202420232022PriorTotal
Unsecured consumer
Current $1,505,717 $613,240 $254,235 $219,279 $23,254 $2,615,725 
30-59 days past due 8,523 5,739 2,577 2,374 500 19,713 
60-89 days past due 7,984 4,120 2,188 2,161 382 16,835 
90 or more days past due 7,218 3,871 2,248 2,233 382 15,952 
Total unsecured consumer (1)
1,529,442 626,970 261,248 226,047 24,518 2,668,225 
Residential mortgages
Current — — — 39,778 107,952 147,730 
30-59 days past due — — — 707 1,012 1,719 
60-89 days past due — — — — — — 
90 or more days past due — — — — 25 25 
Total residential mortgages — — — 40,485 108,989 149,474 
Secured consumer
Current117,930 40,053 35,507 21,555 4,874 219,919 
30-59 days past due995 337 799 712 140 2,983 
60-89 days past due256 62 96 95 36 545 
90 or more days past due88 61 67 21 — 237 
Total secured consumer119,269 40,513 36,469 22,383 5,050 223,684 
Total consumer loans held for investment at amortized cost
$1,648,711 $667,483 $297,717 $288,915 $138,557 $3,041,383 
(1)    Excludes basis adjustment for loans previously designated in fair value hedges under the portfolio layer method. As of March 31, 2026, the remaining unamortized basis adjustment totaled $0.8 million and represents an increase to the amortized cost of the previously hedged loans. See “Note 7. Derivative Instruments and Hedging Activities” for additional information.
December 31, 2025 Term Loans and Leases by Origination Year
20252024202320222021PriorTotal
Unsecured consumer
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 consumer (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
Current134,255 47,453 42,332 26,961 3,769 2,278 257,048 
30-59 days past due778 261 816 941 210 — 3,006 
60-89 days past due131 128 109 177 51 — 596 
90 or more days past due78 31 133 153 — — 395 
Total secured consumer135,242 47,873 43,390 28,232 4,030 2,278 261,045 
Total consumer loans held for investment at amortized cost
$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 7. Derivative Instruments and Hedging Activities” for additional information.
The following tables present the classes of financing receivables within the commercial portfolio segment by risk rating and origination year:
March 31, 2026 Term Loans and Leases by Origination Year
2025202420232022PriorTotal
Guaranteed Amount (1)
Equipment finance
Pass $— $— $— $20,014 $10,404 $30,418 $— 
Special mention— — — 2,213 130 2,343 — 
Substandard — — — — 2,986 2,986 — 
Doubtful — — — 700 — 700 — 
Loss— — — — — — — 
Total equipment finance— — — 22,927 13,520 36,447 — 
Commercial real estate
Pass 97,110 36,217 63,170 93,309 151,904 441,710 29,944 
Special mention— — — — 6,020 6,020 — 
Substandard — — — 425 19,942 20,367 6,886 
Doubtful — — — — 60 60 — 
Loss— — — 1,121 670 1,791 1,542 
Total commercial real estate97,110 36,217 63,170 94,855 178,596 469,948 38,372 
Commercial and industrial
Pass 24,071 28,358 15,443 14,082 27,072 109,026 73,716 
Special mention— — — 4,641 402 5,043 3,915 
Substandard — 1,357 8,394 11,124 6,637 27,512 18,870 
Doubtful — — — 3,456 1,496 4,952 4,065 
Loss— 751 1,189 3,748 — 5,688 5,688 
Total commercial and industrial24,071 30,466 25,026 37,051 35,607 152,221 106,254 
Total commercial loans and leases held for investment at amortized cost
$121,181 $66,683 $88,196 $154,833 $227,723 $658,616 $144,626 
(1)    Represents loan balances guaranteed by the SBA.
December 31, 2025 Term Loans and Leases by Origination Year
20252024202320222021PriorTotal
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 estate95,736 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 industrial21,987 31,131 26,621 38,938 26,874 11,467 157,018 108,826 
Total commercial loans and leases held for investment at amortized cost
$117,723 $67,487 $90,371 $159,824 $73,459 $160,400 $669,264 $148,333 
(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 loans and leases HFI at amortized cost within the commercial portfolio segment by delinquency status:
March 31, 2026
Current
30-59
Days		60-89
Days		90 or More
Days
Total
Equipment finance$32,824 $— $— $3,623 $36,447 
Commercial real estate459,254 — 399 10,295 469,948 
Commercial and industrial
127,020 3,662 1,417 20,122 152,221 
Total commercial loans and leases held for investment at amortized cost
$619,098 $3,662 $1,816 $34,040 $658,616 
December 31, 2025
Current
30-59
Days		60-89
Days		90 or More
Days
Total
Equipment finance$35,973 $696 $— $3,088 $39,757 
Commercial real estate461,307 — — 11,182 472,489 
Commercial and industrial
133,526 1,540 1,878 20,074 157,018 
Total commercial loans and leases held for investment at amortized cost
$630,806 $2,236 $1,878 $34,344 $669,264 
The following table presents nonaccrual loans and leases HFI at amortized cost:
March 31, 2026December 31, 2025
Nonaccrual
Nonaccrual with no related ACL (1)
Nonaccrual
Nonaccrual with no related ACL (1)
Unsecured consumer
$15,952 $— $17,936 $— 
Residential mortgages299 299 431 431 
Secured consumer237 — 395 — 
Total nonaccrual consumer loans held for investment at amortized cost
16,488 299 18,762 431 
Equipment finance3,623 — 3,088 — 
Commercial real estate10,761 5,810 11,253 5,799 
Commercial and industrial27,854 10,590 27,329 10,137 
Total nonaccrual commercial loans and leases held for investment at amortized cost (2)
42,238 16,400 41,670 15,936 
Total nonaccrual loans and leases held for investment at amortized cost
$58,726 $16,699 $60,432 $16,367 
(1)    Subset of total nonaccrual loans and leases HFI at amortized cost.
(2)    Includes $29.5 million and $29.7 million in loan balances guaranteed by the SBA as of March 31, 2026 and December 31, 2025, respectively.

March 31, 2026December 31, 2025
Nonaccrual
Nonaccrual Ratios (1)
Nonaccrual
Nonaccrual Ratios (1)
Total nonaccrual consumer loans held for investment at amortized cost
$16,488 0.5 %$18,762 0.5 %
Total nonaccrual commercial loans and leases held for investment at amortized cost
42,238 6.4 %41,670 6.2 %
Total nonaccrual loans and leases held for investment at amortized cost
$58,726 1.6 %$60,432 1.4 %
(1)    Calculated as the ratio of nonaccrual 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:
Three Months Ended March 31,
20262025
Short-term payment reduction
$6,074 $7,010 
Permanent loan modification
1,893 1,693 
Debt settlement
2,597 3,432 
Total loan modifications – unsecured consumer loans
$10,564 $12,135 
% of unsecured consumer loans at amortized cost as of period end
0.4 %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:
March 31, 2026March 31, 2025
Short-term Payment ReductionPermanent Loan ModificationDebt SettlementShort-term Payment ReductionPermanent Loan ModificationDebt Settlement
Unsecured consumer loans
Current$14,531 $5,719 $9 $18,894 $5,340 $32 
30-59 days1,410 112 6 1,654 175 24 
60-89 days968 87 652 1,169 174 837 
90 or more days755 65 1,976 1,024 112 2,628 
Total loan modifications$17,664 $5,983 $2,643 $22,741 $5,801 $3,521 
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:
Three Months Ended March 31,
20262025
Short-term payment reduction
$1,846 $2,586 
Permanent loan modification
439 522 
Debt settlement
8,668 13,336 
Total loan modifications – unsecured consumer loans
$10,953 $16,444 
v3.26.1
Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2026
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following tables present, by level within the fair value hierarchy, the Company’s assets and liabilities measured at fair value on a recurring basis:
March 31, 2026
Level 1
Level 2
Level 3
Balance at
Fair Value
Assets:
Loans held for sale at fair value$— $— $1,836,121 $1,836,121 
Loans held for investment at fair value
— — 1,237,850 1,237,850 
Securities available for sale:
Senior asset-backed securities related to Structured Program transactions— — 3,246,380 3,246,380 
Other asset-backed securities related to Structured Program transactions— — 238,349 238,349 
U.S. agency residential mortgage-backed securities— 228,900 — 228,900 
U.S. agency securities— 70,495 — 70,495 
Mortgage-backed securities— 54,824 — 54,824 
Municipal securities— 2,586 — 2,586 
Other securities
— 15,804 10,238 26,042 
Total securities available for sale— 372,609 3,494,967 3,867,576 
Servicing assets— — 67,078 67,078 
Other assets— 6,111 — 6,111 
Total assets$— $378,720 $6,636,016 $7,014,736 
Liabilities:
Other liabilities$— $2,338 $720 $3,058 
Total liabilities$— $2,338 $720 $3,058 
December 31, 2025
Level 1
Level 2
Level 3
Balance at
Fair Value
Assets:
Loans held for sale at fair value$— $— $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 
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:
March 31, 2026December 31, 2025
MinimumMaximum
Weighted-
Average (1)
MinimumMaximum
Weighted-
Average (1)
Discount rate6.8 %9.1 %7.3 %6.6 %9.0 %7.1 %
Annualized net credit loss rate
3.4 %15.4 %6.4 %3.3 %16.0 %6.3 %
Annualized prepayment rate
20.7 %26.2 %25.7 %20.5 %26.0 %25.5 %
(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:
March 31, 2026December 31, 2025
MinimumMaximum
Weighted-
Average (1)
MinimumMaximum
Weighted-
Average (1)
Discount rate5.2 %10.6 %7.0 %6.5 %8.5 %7.0 %
Annualized net charge-off rate
0.3 %14.9 %5.5 %4.1 %19.1 %7.4 %
Annualized prepayment rate
16.7 %44.7 %23.3 %19.6 %21.1 %20.0 %
(1)    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:
March 31, 2026December 31, 2025
MinimumMaximumWeighted-
Average		MinimumMaximumWeighted-
Average
Discount rate5.1 %6.5 %5.3 %5.0 %5.4 %5.2 %
The following significant unobservable inputs were used in the fair value measurement of other asset-backed securities related to Structured Program transactions:
March 31, 2026December 31, 2025
MinimumMaximum
Weighted-
Average (1)
MinimumMaximum
Weighted-
Average (1)
Discount rate6.8 %8.7 %7.1 %6.6 %8.6 %6.9 %
Annualized net charge-off rate
3.3 %6.4 %5.4 %3.1 %6.2 %5.0 %
Annualized prepayment rate
22.0 %27.2 %26.0 %22.8 %27.4 %25.8 %
(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:
March 31, 2026December 31, 2025
MinimumMaximumWeighted-
Average		MinimumMaximumWeighted-
Average
Discount rate8.9 %16.2 %10.3 %8.9 %16.2 %10.4 %
Annualized net charge-off rate (1)
3.4 %18.4 %6.1 %3.3 %19.5 %6.5 %
Annualized prepayment rate (1)
20.0 %26.5 %25.5 %19.9 %25.9 %24.6 %
Market servicing rate (2)
0.58 %0.58 %0.58 %0.58 %0.58 %0.58 %
(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:
March 31, 2026December 31, 2025
Loans held for sale at fair value
$1,836,121 $1,762,396 
Expected remaining weighted-average life (in years)
1.21.4
Discount rate:
100 basis point increase$(21,171)$(21,458)
200 basis point increase$(41,913)$(42,471)
Annualized net credit loss rate:
10% increase$(22,740)$(20,970)
20% increase$(45,297)$(41,766)
Annualized prepayment rate:
10% increase$(7,537)$(5,703)
20% increase$(14,154)$(10,546)
The sensitivity of HFI loans at fair value to adverse changes in key assumptions was as follows:
March 31, 2026December 31, 2025
Loans held for investment at fair value$1,237,850 $473,314 
Expected remaining weighted-average life (in years)
1.30.7
Discount rate:
100 basis point increase$(15,470)$(2,832)
200 basis point increase$(30,504)$(5,633)
Annualized net credit loss rate:
10% increase$(13,888)$(5,738)
20% increase$(27,737)$(13,161)
Annualized prepayment rate:
10% increase$(6,131)$(2,490)
20% increase$(12,543)$(4,979)
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:
Three Months Ended
March 31,
20262025
Fair value at beginning of period$1,762,396 $636,352 
Originations
1,702,683 1,263,732 
Sales(1,384,274)(1,096,929)
Principal payments(186,421)(68,555)
Realized charge-offs, net of recoveries, recorded in earnings
(12,066)(6,704)
Fair value adjustments recorded in earnings(46,197)(24,518)
Fair value at end of period$1,836,121 $703,378 
The following table presents HFI loans at fair value activity:
Three Months Ended
March 31,
20262025
Fair value at beginning of period$473,314 $1,027,798 
Originations
947,201 — 
Purchases
27,635 12,744 
Principal payments(176,656)(218,460)
Realized charge-offs, net of recoveries, recorded in earnings
(3,601)(27,205)
Fair value adjustments recorded in earnings
(30,043)24,005 
Fair value at end of period$1,237,850 $818,882 
The following table presents senior asset-backed securities related to Structured Program transactions activity:
Three Months Ended
March 31,
20262025
Fair value at beginning of period$3,092,410 $2,899,824 
Additions626,590 324,116 
Cash received(461,147)(351,665)
Change in unrealized loss
(11,473)(2,994)
Fair value at end of period$3,246,380 $2,869,281 
The following table presents other asset-backed securities related to Structured Program transactions activity:
Three Months Ended
March 31,
20262025
Fair value at beginning of period$219,370 $169,948 
Additions52,958 24,886 
Cash received(32,776)(21,303)
Credit loss benefit (expense) for securities available for sale
277 (1,321)
Change in unrealized (loss) gain
(1,480)334 
Fair value at end of period$238,349 $172,544 
The following table presents servicing assets activity:
Three Months Ended
March 31,
20262025
Fair value at beginning of period$65,167 $60,697 
Issuances (1)
17,485 13,265 
Change in fair value (2)
(15,574)(17,058)
Fair value at end of period$67,078 $56,904 
(1)    Represents the servicing assets recorded when the loans are sold. Included in “Gain on sales of loans” on the Income Statement.
(2)    Included in “Net fair value adjustments” on the Income Statement.
Schedule of Aggregate Fair Value of HFS Loans and HFI Loans
The Company’s loan portfolios consist of the following:
March 31, 2026December 31, 2025
Loans held for sale at fair value$1,836,121 $1,762,396 
Loans held for investment at fair value1,237,850 473,314 
Total loans at fair value3,073,971 2,235,710 
Loans and leases held for investment at amortized cost, net3,463,140 3,997,069 
Total loans and leases$6,537,111 $6,232,779 
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:
March 31, 2026December 31, 2025
Unsecured consumer
$2,669,063 $3,191,430 
Residential mortgages149,474 151,073 
Secured consumer223,684 261,045 
Total consumer loans held for investment at amortized cost
3,042,221 3,603,548 
Equipment finance (1)
36,447 39,757 
Commercial real estate (2)
469,948 472,489 
Commercial and industrial152,221 157,018 
Total commercial loans and leases held for investment at amortized cost
658,616 669,264 
Total loans and leases held for investment at amortized cost (3)
3,700,837 4,272,812 
Allowance for loan and lease losses(237,697)(275,743)
Loans and leases held for investment at amortized cost, net
$3,463,140 $3,997,069 
(1)    Comprised of sales-type leases for equipment. See “Note 16. Leases” for additional information.
(2)    Includes $285.3 million and $286.8 million in loans originated through the Small Business Administration (SBA) as of March 31, 2026 and December 31, 2025, respectively.
(3)    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 $15.5 million and $17.9 million as of March 31, 2026 and December 31, 2025, respectively.

The following table presents the components of the allowance for loan and lease losses (ALLL):
March 31, 2026December 31, 2025
Gross allowance for loan and lease losses (1)
$274,256 $312,667 
Recovery asset value (2)
(36,559)(36,924)
Allowance for loan and lease losses$237,697 $275,743 
(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.
March 31, 2026ConsumerCommercialTotal
Loans and leases held for investment at amortized cost
$3,042,221 $658,616 $3,700,837 
Allowance for loan and lease losses$221,196 $16,501 $237,697 
Allowance ratio (1)
7.3 %2.5 %6.4 %
Gross allowance for loan and lease losses$257,755 $16,501 $274,256 
Gross allowance ratio (1)
8.5 %2.5 %7.4 %
December 31, 2025ConsumerCommercialTotal
Loans and leases held for investment at amortized cost
$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 %
(1)    Calculated as ALLL or gross ALLL, where applicable, to the corresponding portfolio segment balance of loans and leases HFI 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:
March 31, 2026December 31, 2025
Total90 or more
days past due		Total90 or more
days past due
Aggregate unpaid principal balance$1,892,826 $5,292 $1,795,818 $3,931 
Cumulative fair value adjustments(56,705)(4,260)(33,422)(3,176)
Fair value of loans held for sale
$1,836,121 $1,032 $1,762,396 $755 
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:
March 31, 2026December 31, 2025
Total90 or more
days past due		Total90 or more
days past due
Aggregate unpaid principal balance$1,290,246 $4,487 $495,649 $5,177 
Cumulative fair value adjustments(52,396)(3,612)(22,335)(4,183)
Fair value of loans held for investment$1,237,850 $875 $473,314 $994 
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:
March 31, 2026December 31, 2025
Fair value of interests held$3,246,380 $3,092,410 
Expected remaining weighted-average life (in years)
1.11.1
Discount rate:
100 basis point increase$(35,075)$(32,467)
200 basis point increase$(70,149)$(64,934)
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:
March 31, 2026December 31, 2025
Fair value of interests held$238,349 $219,370 
Expected remaining weighted-average life (in years)
1.11.2
Discount rate:
100 basis point increase$(2,495)$(2,285)
200 basis point increase$(4,942)$(4,529)
Annualized net charge-off rate:
10% increase$(2,431)$(2,077)
20% increase$(4,873)$(4,112)
Annualized prepayment rate:
10% increase$(1,074)$(674)
20% increase$(2,020)$(1,227)
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:
March 31, 2026December 31, 2025
Fair value of servicing assets$67,078 $65,167 
Expected remaining weighted-average life (in years)
1.21.2
Discount rate:
100 basis point increase$(589)$(567)
200 basis point increase$(1,178)$(1,134)
Annualized net charge-off rate:
10% increase$(574)$(536)
20% increase$(1,148)$(1,071)
Annualized prepayment rate:
10% increase$(2,013)$(1,892)
20% increase$(4,025)$(3,785)
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:
March 31, 2026December 31, 2025
Weighted-average market servicing rate assumptions
0.58 %0.58 %
Change in fair value from:
Market servicing rate increase by 0.10%
$(7,451)$(7,289)
Market servicing rate decrease by 0.10%
$7,451 $7,289 
Schedule of 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:
March 31, 2026Carrying Amount
Level 1
Level 2
Level 3
Balance at
Fair Value
Assets:
Loans and leases held for investment at amortized cost, net
$3,463,140 $— $— $3,673,022 $3,673,022 
Other assets50,514 — 50,375 139 50,514 
Total assets$3,513,654 $— $50,375 $3,673,161 $3,723,536 
Liabilities:
Deposits (1)
$2,536,168 $— $— $2,538,320 $2,538,320 
Other liabilities47,245 — 19,029 28,216 47,245 
Total liabilities$2,583,413 $— $19,029 $2,566,536 $2,585,565 
December 31, 2025Carrying Amount
Level 1
Level 2
Level 3
Balance at
Fair Value
Assets:
Loans and leases held for investment at amortized cost, net
$3,997,069 $— $— $4,251,852 $4,251,852 
Other assets47,470 — 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 liabilities40,931 — 11,926 29,005 40,931 
Total liabilities$2,475,353 $— $11,926 $2,466,214 $2,478,140 
(1)    Excludes deposit liabilities with no defined or contractual maturities.
v3.26.1
Structured Program Transactions and Variable Interest Entities (Tables)
 3 Months Ended
Mar. 31, 2026
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:
March 31, 2026December 31, 2025
Assets
Securities available for sale at fair value$3,484,729 $3,311,780 
Other assets56,684 53,660 
Total assets3,541,413 3,365,440 
Liabilities
Other liabilities355 1,023 
Total liabilities355 1,023 
Total net assets (maximum loss exposure)$3,541,058 $3,364,417 
The following table summarizes activity related to unconsolidated VIEs where the transfers were accounted for as a sale on the Company’s financial statements:
Three Months Ended
March 31,
20262025
Fair value of consideration received:
Cash$416,098 $148,379 
Net securities retained from Structured Program transactions635,132 349,002 
Other assets, net12,585 5,974 
Total consideration1,063,815 503,355 
Fair value of loans sold(1,051,786)(498,058)
Gain on sales of loans(1)
$12,029 $5,297 
Cash proceeds from continuing involvement:
Servicing and other administrative fees$11,350 $8,896 
Interest received on securities retained from Structured Program transactions$50,996 $51,134 
(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.
v3.26.1
Derivative Instruments and Hedging Activities (Tables)
 3 Months Ended
Mar. 31, 2026
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:
March 31, 2026December 31, 2025
Notional
Derivative Asset (1)
Derivative Liability (1)
Notional
Derivative Asset (1)
Derivative Liability (1)
Credit derivatives
$1,404 $— $(355)$3,737 $— $(1,327)
Interest rate contracts:
Interest rate caps675,000 4,430 — 325,000 528 — 
Interest rate swaps
1,325,000 966 (1,623)125,000 — (234)
Total interest rate contracts
$2,000,000 $5,396 $(1,623)$450,000 $528 $(234)
Total
$2,001,404 $5,396 $(1,978)$453,737 $528 $(1,561)
(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:
Three Months Ended
March 31,
20262025
Credit derivatives (1)
$289 $1,159 
Interest rate contracts (2)
2,901 (60)
Total gains
$3,190 $1,099 
(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 on the Income Statement.
(2)    Recorded in “Net fair value adjustments” on the Income Statement.
The following table summarizes the gain (loss) recognized on the Company’s fair value hedges:
Three Months Ended March 31, 2025
Unsecured consumer loans:
Hedged item
$253 
Derivatives
(278)
Interest settlement on derivative (1)
(535)
Total loss on hedged unsecured consumer loans (2)
(560)
Securities available for sale:
Hedged item
1,859 
Derivatives
(1,933)
Interest settlement on derivative (1)
616 
Total gain on hedged securities available for sale (3)
542 
Total loss on fair value hedges
$(18)
(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 were designated as fair value hedges:
December 31, 2025
Notional
Derivative Asset (1)
Derivative Liability (1)
Unsecured consumer loans
$575,000 $81 $(1,566)
Securities available for sale
475,000 146 (774)
Total interest rate swaps
$1,050,000 $227 $(2,340)
(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
Balance Sheet Line Item
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 
Securities available for sale$1,091,921 $727 
(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 consumer loans and AFS securities, designated as the hedged items in the portfolio layer hedging relationship, was $575.0 million and $475.0 million, respectively.
v3.26.1
Property, Equipment and Software, Net (Tables)
 3 Months Ended
Mar. 31, 2026
Property, Plant and Equipment [Abstract]  
Schedule of Property, Equipment and Software, Net
Property, equipment and software, net, consist of the following:
March 31, 2026December 31, 2025
Software (1)
$275,472 $259,773 
Land, building and building improvements (2)
95,932 81,601 
Leasehold improvements30,686 30,686 
Computer equipment
7,498 5,829 
Furniture and fixtures7,459 5,554 
Total property, equipment and software417,047 383,443 
Accumulated depreciation and amortization(143,575)(129,355)
Total property, equipment and software, net$273,472 $254,088 
(1)    Includes $36.5 million and $28.3 million of development in progress for internally-developed software and $6.7 million and $6.8 million of development in progress to customize purchased software as of March 31, 2026 and December 31, 2025, respectively.
(2)    Includes $22.0 million and $7.7 million of building improvements in progress as of March 31, 2026 and December 31, 2025, respectively.
v3.26.1
Goodwill and Intangible Assets (Tables)
 3 Months Ended
Mar. 31, 2026
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:
March 31, 2026December 31, 2025
Gross carrying value$56,490 $56,490 
Accumulated amortization(49,813)(49,071)
Net carrying value$6,677 $7,419 
Schedule of Expected Future Amortization Expense for Intangible Assets
The expected future amortization expense for intangible assets as of March 31, 2026, is as follows:
2026$1,894 
20271,943 
20281,179 
2029729 
2030
456 
Thereafter476 
Total$6,677 
v3.26.1
Other Assets (Tables)
 3 Months Ended
Mar. 31, 2026
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]  
Schedule of Other Assets
Other assets consist of the following:
March 31, 2026December 31, 2025
Deferred tax assets, net (1)
$96,594 $96,159 
Servicing assets (2)
67,217 65,326 
Nonmarketable equity investments48,605 48,462 
Accrued interest receivable
45,003 43,918 
Operating lease assets10,761 12,942 
Intangible assets, net (3)
6,677 7,419 
Other89,244 93,860 
Total other assets$364,101 $368,086 
(1)    See “Note 15. Income Taxes” for additional detail.
(2)    Loans underlying servicing assets had a total outstanding principal balance of $7.8 billion and $7.6 billion as of March 31, 2026 and December 31, 2025, respectively.
(3)    See “Note 9. Goodwill and Intangible Assets” for additional detail.
v3.26.1
Deposits (Tables)
 3 Months Ended
Mar. 31, 2026
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:
March 31, 2026December 31, 2025
Interest-bearing deposits:
Savings and money market accounts$6,814,486 $6,599,737 
Certificates of deposit
2,536,168 2,434,422 
Checking accounts430,914 425,324 
Total9,781,568 9,459,483 
Noninterest-bearing deposits407,943 374,387 
Total deposits$10,189,511 $9,833,870 

Total certificates of deposit at March 31, 2026 are scheduled to mature as follows:
2026$2,150,055 
2027367,690 
20286,159 
202910,376 
20301,249 
Thereafter639 
Total certificates of deposit (1)
$2,536,168 
(1)    Certificates of deposit in excess of the FDIC insurance limit of $250 thousand per account holder totaled $129.4 million at March 31, 2026.
v3.26.1
Borrowings (Tables)
 3 Months Ended
Mar. 31, 2026
Debt Disclosure [Abstract]  
Schedule of Borrowings
The following table summarizes the Company’s available borrowing capacity and the related pledged collateral:
March 31, 2026December 31, 2025
Available Borrowing Capacity
Pledged Collateral (1)
Available Borrowing Capacity
Pledged Collateral (2)
FRB Discount Window$3,011,674 $3,882,429 $3,294,827 $4,245,845 
FHLB of Des Moines
672,717 864,749 679,361 861,913 
Total
$3,684,391 $4,747,178 $3,974,188 $5,107,758 
(1)    As of March 31, 2026, the Company had $3.9 billion in loans pledged under the Federal Reserve System (FRB) Discount Window, and $501.1 million in loans and $363.7 million in securities available for sale at fair value pledged to the Federal Home Loan Bank (FHLB) of Des Moines.
(2)    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.
v3.26.1
Other Liabilities (Tables)
 3 Months Ended
Mar. 31, 2026
Other Liabilities [Abstract]  
Schedule of Other Liabilities
Other liabilities consist of the following:
March 31, 2026December 31, 2025
Accounts payable and accrued expenses$83,043 $87,341 
Due to borrowers (1)
47,258 60,254 
Payable to investors (2)
19,029 11,926 
Operating lease liabilities12,481 15,826 
Other64,989 58,171 
Total other liabilities$226,800 $233,518 
(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.
v3.26.1
Equity (Tables)
 3 Months Ended
Mar. 31, 2026
Share-Based Payment Arrangement [Abstract]  
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:
Three Months Ended
March 31,
20262025
RSUs
$7,529 $9,074 
PBRSUs1,005 847 
Stock-based compensation expense, gross8,534 9,921 
Less: Capitalized stock-based compensation expense960 1,402 
Stock-based compensation expense, net$7,574 $8,519 
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, 2025
4,278,687 $10.73 
Granted1,646,297 $15.14 
Vested(1,221,551)$8.86 
Forfeited
(141,344)$11.06 
Unvested at March 31, 2026
4,562,089 $12.81 
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, 2025
1,160,819 $8.86 
Granted641,982 $14.72 
Vested(485,134)$7.62 
Unvested at March 31, 2026
1,317,667 $12.17 
v3.26.1
Income Taxes (Tables)
 3 Months Ended
Mar. 31, 2026
Income Tax Disclosure [Abstract]  
Schedule of Deferred Tax Assets
The following table summarizes the Company’s net deferred tax assets:
March 31, 2026December 31, 2025
Deferred tax assets, net of liabilities$144,641 $144,206 
Valuation allowance(48,047)(48,047)
Deferred tax assets, net of valuation allowance$96,594 $96,159 
v3.26.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Schedule of Balance Sheet Information Related to Leases
Balance sheet information related to leases was as follows:
ROU Assets and Lease LiabilitiesBalance Sheet ClassificationMarch 31, 2026December 31, 2025
Operating lease assetsOther assets$10,761 $12,942 
Operating lease liabilitiesOther liabilities$12,481 $15,826 
Schedule of Future Minimum Undiscounted Lease Payments Under Operating Leases
The Company’s future minimum undiscounted lease payments under operating leases as of March 31, 2026 were as follows:
Operating Lease Payments
2026$4,469 
20275,010 
20284,046 
2029909 
Total lease payments$14,434 
Discount effect(1,953)
Present value of future minimum lease payments$12,481 
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 RateMarch 31, 2026December 31, 2025
Weighted-average remaining lease term (in years)2.782.64
Weighted-average discount rate4.39 %4.56 %
Schedule of Rental Income
Rental income earned from such leases was as follows for the periods presented:
Three Months Ended
March 31,
20262025
Rental income (1)
$1,992 $— 
(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 March 31, 2026, under non-cancelable operating leases, were as follows:
2026$3,302 
20273,356 
20282,460 
20291,932 
20301,990 
Thereafter6,215 
Total lease payments
$19,255 
Schedule of Sales-Type Leases for Equipment (Equipment Finance)
Interest earned on Equipment Finance was as follows for the periods presented:
Three Months Ended
March 31,
20262025
Interest earned (1)
$520 $847 
(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:
March 31, 2026December 31, 2025
Lease receivables$21,352 $25,384 
Unguaranteed residual asset values18,238 17,907 
Unearned income(3,273)(3,690)
Deferred costs
130 156 
Total$36,447 $39,757 
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 March 31, 2026 were as follows:
2026$9,399 
20277,479 
20283,715 
20291,434 
Total lease payments$22,027 
Discount effect(675)
Present value of future minimum lease payments$21,352 
v3.26.1
Regulatory Requirements (Tables)
 3 Months Ended
Mar. 31, 2026
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):
March 31, 2026December 31, 2025
Required Minimum (1)
Well-Capitalized Minimum
AmountRatioAmountRatio
LendingClub Corporation:
CET1 capital (2)
$1,376.8 17.0 %$1,342.6 17.4 %7.0 %N/A
Tier 1 capital$1,376.8 17.0 %$1,342.6 17.4 %8.5 %6.0 %
Total capital$1,479.7 18.3 %$1,441.0 18.7 %10.5 %10.0 %
Tier 1 leverage$1,376.8 11.9 %$1,342.6 12.0 %4.0 %N/A
Risk-weighted assets$8,093.4 N/A$7,696.1 N/AN/AN/A
Quarterly adjusted average assets$11,523.0 N/A$11,174.0 N/AN/AN/A
LendingClub Bank:
CET1 capital (2)
$1,246.2 15.5 %$1,183.9 15.5 %7.0 %6.5 %
Tier 1 capital$1,246.2 15.5 %$1,183.9 15.5 %8.5 %8.0 %
Total capital$1,348.5 16.8 %$1,281.8 16.8 %10.5 %10.0 %
Tier 1 leverage$1,246.2 10.9 %$1,183.9 10.7 %4.0 %5.0 %
Risk-weighted assets$8,050.2 N/A$7,652.0 N/AN/AN/A
Quarterly adjusted average assets$11,448.5 N/A$11,090.4 N/AN/AN/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 deductions for goodwill and other intangible assets.
v3.26.1
Segment Reporting (Tables)
 3 Months Ended
Mar. 31, 2026
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
Three Months Ended March 31,202620252026202520262025
Interest income:
Interest income$260,945 $231,755 $262 $304 $261,207 $232,059 
Interest expense(84,973)(82,102)— — (84,973)(82,102)
Net interest income175,972 149,653 262 304 176,234 149,957 
Non-interest income:
Origination fees(1)
129,988 69,933 100 11 130,088 69,944 
Servicing fees(1)
5,342 198 4,991 4,912 10,333 5,110 
Gain on sales of loans(1)
16,269 12,202 — — 16,269 12,202 
Net fair value adjustments(1)
(89,666)(30,123)741 872 (88,925)(29,251)
Other non-interest income11,130 12,941 2,128 1,991 13,258 14,932 
Total non-interest income73,063 65,151 7,960 7,786 81,023 72,937 
Total net revenue249,035 214,804 8,222 8,090 257,257 222,894 
Provision for credit losses(390)(58,149)— — (390)(58,149)
Non-interest expense:
Compensation and benefits(64,095)(56,863)(1,419)(1,526)(65,514)(58,389)
Marketing(55,415)(29,239)— — (55,415)(29,239)
Equipment and software(15,293)(14,619)— (25)(15,293)(14,644)
Depreciation and amortization(14,992)(12,543)(827)(1,366)(15,819)(13,909)
Professional services(11,687)(9,637)(80)(127)(11,767)(9,764)
Occupancy(3,971)(2,401)(2,420)(1,944)(6,391)(4,345)
Other non-interest expense(17,296)(14,447)(2,044)(4,313)(19,340)(18,760)
Total non-interest expense(182,749)(139,749)(6,790)(9,301)(189,539)(149,050)
Income tax benefit (expense)(14,895)(4,872)(830)848 (15,725)(4,024)
Net income (loss) (2)
$51,001 $12,034 $602 $(363)$51,603 $11,671 
Capital expenditures$25,784 $13,066 $— $— $25,784 $13,066 
(1)    Prior period amounts have been reclassified to conform to the current period presentation. See “Note 1. Summary of Significant Accounting Policies” for additional information.
(2)    Total net income from reportable segments reflects net income on a consolidated basis.

Three Months Ended
March 31,
20262025
Total net revenue – reportable segments$257,257 $222,894 
Intercompany eliminations(5,006)(5,183)
Total net revenue – consolidated$252,251 $217,711 
LendingClub Bank
LendingClub
Corporation (Parent only)
Total Reportable Segments
 March 31, 2026December 31, 2025March 31, 2026December 31, 2025March 31, 2026December 31, 2025
Assets
Total cash and cash equivalents$782,503 $901,246 $106,860 $127,087 $889,363 $1,028,333 
Restricted cash— — 25,589 16,659 25,589 16,659 
Securities available for sale at fair value3,857,338 3,696,626 10,238 10,083 3,867,576 3,706,709 
Loans held for sale at fair value1,836,121 1,762,396 — — 1,836,121 1,762,396 
Loans held for investment at fair value
1,237,093 472,301 757 1,013 1,237,850 473,314 
Loans and leases held for investment at amortized cost, net
3,463,140 3,997,069 — — 3,463,140 3,997,069 
Property, equipment and software, net270,122 250,168 3,350 3,920 273,472 254,088 
Investment in subsidiary— — 919,364 903,339 919,364 903,339 
Goodwill75,717 75,717 — — 75,717 75,717 
Other assets323,674 316,488 37,554 72,323 361,228 388,811 
Total assets11,845,708 11,472,011 1,103,712 1,134,424 12,949,420 12,606,435 
Liabilities and Equity
Total deposits10,282,601 9,948,426 — — 10,282,601 9,948,426 
Other liabilities200,976 217,930 22,951 36,313 223,927 254,243 
Total liabilities10,483,577 10,166,356 22,951 36,313 10,506,528 10,202,669 
Total equity1,362,131 1,305,655 1,080,761 1,098,111 2,442,892 2,403,766 
Total liabilities and equity$11,845,708 $11,472,011 $1,103,712 $1,134,424 $12,949,420 $12,606,435 

March 31, 2026December 31, 2025
Total assets – reportable segments$12,949,420 $12,606,435 
Intercompany eliminations(1,009,581)(1,038,619)
Total assets – consolidated$11,939,839 $11,567,816 

March 31, 2026December 31, 2025
Total liabilities and equity – reportable segments$12,949,420 $12,606,435 
Intercompany eliminations – liabilities(90,217)(135,281)
Intercompany eliminations – equity(919,364)(903,338)
Total liabilities and equity – consolidated$11,939,839 $11,567,816 
v3.26.1
Earnings Per Share (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Basic EPS:    
Net income $ 51,603 $ 11,671
Weighted-average common shares – Basic (in shares) 115,400,564 113,693,399
Basic EPS (in USD per share) $ 0.45 $ 0.10
Diluted EPS:    
Net income $ 51,603 $ 11,671
Weighted-average common shares – Diluted (in shares) 117,333,435 116,176,898
Diluted EPS (in USD per share) $ 0.44 $ 0.10
v3.26.1
Securities Available for Sale - Schedule of Amortized Cost, Gross Unrealized Gains and Losses, and Fair Value of AFS Securities (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Debt Securities, Available-for-sale [Line Items]        
Amortized Cost $ 3,908,834 $ 3,733,780    
Gross Unrealized Gains 17,215 27,237    
Gross Unrealized Losses (54,657) (50,215)    
Allowance for Credit Losses (3,816) (4,093)    
Fair Value 3,867,576 3,706,709    
Senior asset-backed securities related to Structured Program transactions        
Debt Securities, Available-for-sale [Line Items]        
Amortized Cost 3,231,328 3,065,885    
Gross Unrealized Gains 16,760 26,525    
Gross Unrealized Losses (1,708) 0    
Allowance for Credit Losses 0 0    
Fair Value 3,246,380 3,092,410    
Other asset-backed securities related to Structured Program transactions        
Debt Securities, Available-for-sale [Line Items]        
Amortized Cost 244,984 224,802    
Gross Unrealized Gains 56 28    
Gross Unrealized Losses (2,875) (1,367)    
Allowance for Credit Losses (3,816) (4,093) $ (4,848) $ (3,527)
Fair Value 238,349 219,370    
Restricted investments 212,100 200,000    
U.S. agency residential mortgage-backed securities        
Debt Securities, Available-for-sale [Line Items]        
Amortized Cost 261,505 267,853    
Gross Unrealized Gains 260 504    
Gross Unrealized Losses (32,865) (32,296)    
Allowance for Credit Losses 0 0    
Fair Value 228,900 236,061    
U.S. agency securities        
Debt Securities, Available-for-sale [Line Items]        
Amortized Cost 81,466 84,464    
Gross Unrealized Gains 0 0    
Gross Unrealized Losses (10,971) (10,602)    
Allowance for Credit Losses 0 0    
Fair Value 70,495 73,862    
Mortgage-backed securities        
Debt Securities, Available-for-sale [Line Items]        
Amortized Cost 59,963 60,423    
Gross Unrealized Gains 86 135    
Gross Unrealized Losses (5,225) (4,961)    
Allowance for Credit Losses 0 0    
Fair Value 54,824 55,597    
Municipal securities        
Debt Securities, Available-for-sale [Line Items]        
Amortized Cost 3,210 3,215    
Gross Unrealized Gains 0 0    
Gross Unrealized Losses (624) (609)    
Allowance for Credit Losses 0 0    
Fair Value 2,586 2,606    
Other securities        
Debt Securities, Available-for-sale [Line Items]        
Amortized Cost 26,378 27,138    
Gross Unrealized Gains 53 45    
Gross Unrealized Losses (389) (380)    
Allowance for Credit Losses 0 0    
Fair Value $ 26,042 $ 26,803    
v3.26.1
Securities Available for Sale - Schedule of AFS Securities with Unrealized Losses, Aggregated by Period of Continuous Unrealized Loss (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Schedule of Securities Available-for-sale [Line Items]    
Fair Value, Less than 12 months $ 1,004,829 $ 118,995
Unrealized Losses, Less than 12 months (5,163) (1,315)
Fair Value, 12 months or longer 289,934 327,048
Unrealized Losses, 12 months or longer (49,494) (48,900)
Fair Value 1,294,763 446,043
Unrealized Losses (54,657) (50,215)
Senior asset-backed securities related to Structured Program transactions    
Schedule of Securities Available-for-sale [Line Items]    
Fair Value, Less than 12 months 791,709  
Unrealized Losses, Less than 12 months (1,708)  
Fair Value, 12 months or longer 0  
Unrealized Losses, 12 months or longer 0  
Fair Value 791,709  
Unrealized Losses (1,708)  
U.S. agency residential mortgage-backed securities    
Schedule of Securities Available-for-sale [Line Items]    
Fair Value, Less than 12 months 32,769 20,017
Unrealized Losses, Less than 12 months (463) (266)
Fair Value, 12 months or longer 176,907 181,150
Unrealized Losses, 12 months or longer (32,402) (32,030)
Fair Value 209,676 201,167
Unrealized Losses (32,865) (32,296)
Other asset-backed securities related to Structured Program transactions    
Schedule of Securities Available-for-sale [Line Items]    
Fair Value, Less than 12 months 166,950 95,494
Unrealized Losses, Less than 12 months (2,875) (1,034)
Fair Value, 12 months or longer 0 23,719
Unrealized Losses, 12 months or longer 0 (333)
Fair Value 166,950 119,213
Unrealized Losses (2,875) (1,367)
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 70,495 73,862
Unrealized Losses, 12 months or longer (10,971) (10,602)
Fair Value 70,495 73,862
Unrealized Losses (10,971) (10,602)
Mortgage-backed securities    
Schedule of Securities Available-for-sale [Line Items]    
Fair Value, Less than 12 months 12,074 1,874
Unrealized Losses, Less than 12 months (106) (5)
Fair Value, 12 months or longer 30,886 36,167
Unrealized Losses, 12 months or longer (5,119) (4,956)
Fair Value 42,960 38,041
Unrealized Losses (5,225) (4,961)
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 2,586 2,606
Unrealized Losses, 12 months or longer (624) (609)
Fair Value 2,586 2,606
Unrealized Losses (624) (609)
Other securities    
Schedule of Securities Available-for-sale [Line Items]    
Fair Value, Less than 12 months 1,327 1,610
Unrealized Losses, Less than 12 months (11) (10)
Fair Value, 12 months or longer 9,060 9,544
Unrealized Losses, 12 months or longer (378) (370)
Fair Value 10,387 11,154
Unrealized Losses $ (389) $ (380)
v3.26.1
Securities Available for Sale - Schedule of Activity in Credit Valuation Allowance for AFS Securities (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Other asset-backed securities related to Structured Program transactions:    
Allowance for credit losses, beginning of period $ 4,093  
Allowance for credit losses, end of period 3,816  
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 4,093 $ 3,527
Credit loss (benefit) expense for securities available for sale (277) 1,321
Allowance for credit losses, end of period $ 3,816 $ 4,848
v3.26.1
Securities Available for Sale - Schedule of Contractual Maturities of AFS Securities (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Amortized Cost    
Amortized Cost, Due within 1 year $ 3,000  
Amortized Cost, Due after 1 year through 5 years 3,491,550  
Amortized Cost, Due after 5 years through 10 years 47,076  
Amortized Cost, Due after 10 years 367,208  
Amortized Cost 3,908,834 $ 3,733,780
Fair Value    
Fair Value, Due within 1 year 2,979  
Fair Value, Due after 1 year through 5 years 3,499,733  
Fair Value, Due after 5 years through 10 years 42,900  
Fair Value, Due after 10 years 321,964  
Fair Value $ 3,867,576 3,706,709
Weighted-average Yield, Due within 1 year 3.00%  
Weighted-average Yield, Due after 1 year through 5 years 6.05%  
Weighted-average Yield, Due after 5 years through 10 years 3.91%  
Weighted-average Yield, Due after 10 years 3.12%  
Weighted-average Yield 5.74%  
Senior asset-backed securities related to Structured Program transactions    
Amortized Cost    
Amortized Cost, Due after 1 year through 5 years $ 3,231,328  
Amortized Cost 3,231,328 3,065,885
Fair Value    
Fair Value, Due after 1 year through 5 years 3,246,380  
Fair Value 3,246,380 3,092,410
Other asset-backed securities related to Structured Program transactions    
Amortized Cost    
Amortized Cost, Due after 1 year through 5 years 244,984  
Amortized Cost 244,984 224,802
Fair Value    
Fair Value, Due after 1 year through 5 years 238,349  
Fair Value 238,349 219,370
Mortgage-backed securities    
Amortized Cost    
Amortized Cost, Due after 1 year through 5 years 2,534  
Amortized Cost, Due after 5 years through 10 years 871  
Amortized Cost, Due after 10 years 56,558  
Amortized Cost 59,963 60,423
Fair Value    
Fair Value, Due after 1 year through 5 years 2,387  
Fair Value, Due after 5 years through 10 years 771  
Fair Value, Due after 10 years 51,666  
Fair Value 54,824 55,597
U.S. agency securities    
Amortized Cost    
Amortized Cost, Due within 1 year 3,000  
Amortized Cost, Due after 1 year through 5 years 1,850  
Amortized Cost, Due after 5 years through 10 years 34,463  
Amortized Cost, Due after 10 years 42,153  
Amortized Cost 81,466 84,464
Fair Value    
Fair Value, Due within 1 year 2,979  
Fair Value, Due after 1 year through 5 years 1,799  
Fair Value, Due after 5 years through 10 years 30,464  
Fair Value, Due after 10 years 35,253  
Fair Value 70,495 73,862
Municipal securities    
Amortized Cost    
Amortized Cost, Due after 1 year through 5 years 458  
Amortized Cost, Due after 5 years through 10 years 154  
Amortized Cost, Due after 10 years 2,598  
Amortized Cost 3,210 3,215
Fair Value    
Fair Value, Due after 1 year through 5 years 427  
Fair Value, Due after 5 years through 10 years 139  
Fair Value, Due after 10 years 2,020  
Fair Value 2,586 2,606
U.S. agency residential mortgage-backed securities    
Amortized Cost    
Amortized Cost, Due after 1 year through 5 years 110  
Amortized Cost, Due after 5 years through 10 years 2,543  
Amortized Cost, Due after 10 years 258,852  
Fair Value    
Fair Value, Due after 1 year through 5 years 105  
Fair Value, Due after 5 years through 10 years 2,457  
Fair Value, Due after 10 years 226,338  
Fair Value 228,900 236,061
Other securities    
Amortized Cost    
Amortized Cost, Due after 1 year through 5 years 10,286  
Amortized Cost, Due after 5 years through 10 years 9,045  
Amortized Cost, Due after 10 years 7,047  
Amortized Cost 26,378 27,138
Fair Value    
Fair Value, Due after 1 year through 5 years 10,286  
Fair Value, Due after 5 years through 10 years 9,069  
Fair Value, Due after 10 years 6,687  
Fair Value $ 26,042 $ 26,803
v3.26.1
Securities Available for Sale - Additional information (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Senior asset-backed securities related to Structured Program transactions    
Debt Securities, Available-for-sale [Line Items]    
Gross realized gain from sale of AFS securities $ 0.0 $ 0.0
v3.26.1
Loans - Schedule of Loan Portfolios (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Receivables [Abstract]    
Loans held for sale at fair value $ 1,836,121 $ 1,762,396
Loans held for investment at fair value 1,237,850 473,314
Fair value of loans held for investment 3,073,971 2,235,710
Loans held for investment at fair value 3,463,140 3,997,069
Total $ 6,537,111 $ 6,232,779
v3.26.1
Loans - Schedule of Loans and Leases Held for Investment at Amortized Cost (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]        
Loans and leases held for investment at amortized cost $ 3,700,837 $ 4,272,812    
Allowance for loan and lease losses (237,697) (275,743) $ (244,193) $ (236,734)
Loans and leases held for investment at amortized cost, net 3,463,140 3,997,069    
Accrued interest 15,500 17,900    
Consumer        
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]        
Loans and leases held for investment at amortized cost 3,042,221 3,603,548    
Allowance for loan and lease losses (221,196) (258,811) (227,608) (212,598)
Consumer | Unsecured consumer        
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]        
Loans and leases held for investment at amortized cost 2,669,063 3,191,430    
Consumer | Residential mortgages        
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]        
Loans and leases held for investment at amortized cost 149,474 151,073    
Consumer | Secured consumer        
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]        
Loans and leases held for investment at amortized cost 223,684 261,045    
Commercial        
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]        
Loans and leases held for investment at amortized cost 658,616 669,264    
Allowance for loan and lease losses (16,501) (16,932) $ (16,585) $ (24,136)
Commercial | Equipment finance        
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]        
Loans and leases held for investment at amortized cost 36,447 39,757    
Commercial | Commercial real estate        
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]        
Loans and leases held for investment at amortized cost 469,948 472,489    
Commercial | Commercial real estate | Small Business Association loans        
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]        
Loans and leases held for investment at amortized cost 285,300 286,800    
Commercial | Commercial and industrial        
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]        
Loans and leases held for investment at amortized cost $ 152,221 $ 157,018    
v3.26.1
Loans - Schedule of Components of the Allowance for Loan and Lease Losses (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Receivables [Abstract]        
Gross allowance for loan and lease losses $ 274,256 $ 312,667    
Recovery asset value (36,559) (36,924)    
Allowance for loan and lease losses $ 237,697 $ 275,743 $ 244,193 $ 236,734
v3.26.1
Loans - Schedule of Components of Portfolio Segment Receivables (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]        
Loans and leases held for investment at amortized cost $ 3,700,837 $ 4,272,812    
Allowance for loan and lease losses $ 237,697 $ 275,743 $ 244,193 $ 236,734
Allowance ratio 6.40% 6.50%    
Gross allowance for loan and lease losses $ 274,256 $ 312,667    
Gross allowance ratio (as a percent) 7.40% 7.30%    
Consumer        
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]        
Loans and leases held for investment at amortized cost $ 3,042,221 $ 3,603,548    
Allowance for loan and lease losses $ 221,196 $ 258,811 227,608 212,598
Allowance ratio 7.30% 7.20%    
Gross allowance for loan and lease losses $ 257,755 $ 295,735    
Gross allowance ratio (as a percent) 8.50% 8.20%    
Commercial        
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]        
Loans and leases held for investment at amortized cost $ 658,616 $ 669,264    
Allowance for loan and lease losses $ 16,501 $ 16,932 $ 16,585 $ 24,136
Allowance ratio 2.50% 2.50%    
Gross allowance for loan and lease losses $ 16,501 $ 16,932    
Gross allowance ratio (as a percent) 2.50% 2.50%    
v3.26.1
Loans - Schedule of Activity in the ACL by Portfolio Segment (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
USD ($)
Mar. 31, 2025
USD ($)
loan
Allowance for loan and lease losses:    
Beginning of period $ 275,743 $ 236,734
Credit loss expense (benefit) 846 56,382
Charge-offs (52,770) (66,576)
Recoveries 13,878 17,653
End of period 237,697 244,193
Reserve for unfunded lending commitments:    
Beginning of period 98,200  
End of period 91,100  
Unfunded Loan Commitment    
Reserve for unfunded lending commitments:    
Beginning of period 1,009 1,183
Credit loss (benefit) expense (179) 446
End of period 830 1,629
Unfunded Loan Commitment, Commitments To Extend Credit    
Reserve for unfunded lending commitments:    
Beginning of period 52,000  
End of period 44,100 96,300
Consumer    
Allowance for loan and lease losses:    
Beginning of period 258,811 212,598
Credit loss expense (benefit) 1,401 55,948
Charge-offs (52,644) (58,344)
Recoveries 13,628 17,406
End of period 221,196 227,608
Consumer | Unfunded Loan Commitment    
Reserve for unfunded lending commitments:    
Beginning of period 0 0
Credit loss (benefit) expense 0 0
End of period 0 0
Commercial    
Allowance for loan and lease losses:    
Beginning of period 16,932 24,136
Credit loss expense (benefit) (555) 434
Charge-offs (126) (8,232)
Recoveries 250 247
End of period 16,501 16,585
Commercial | Office    
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 1,009 $ 1,183
Credit loss (benefit) expense (179) 446
End of period $ 830 $ 1,629
v3.26.1
Loans - Schedule of Charge-Offs by Origination Year (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
USD ($)
Term Loans and Leases by Origination Year  
2025 $ 19,044
2024 16,235
2023 8,174
2022 7,834
Prior 1,483
Total 52,770
Consumer  
Term Loans and Leases by Origination Year  
2025 19,044
2024 16,235
2023 8,174
2022 7,708
Prior 1,483
Total 52,644
Consumer | Unsecured consumer  
Term Loans and Leases by Origination Year  
2025 18,770
2024 16,124
2023 7,933
2022 7,483
Prior 1,437
Total 51,747
Consumer | Residential mortgages  
Term Loans and Leases by Origination Year  
2025 0
2024 0
2023 0
2022 0
Prior 0
Total 0
Consumer | Secured consumer  
Term Loans and Leases by Origination Year  
2025 274
2024 111
2023 241
2022 225
Prior 46
Total 897
Commercial  
Term Loans and Leases by Origination Year  
2025 0
2024 0
2023 0
2022 126
Prior 0
Total 126
Commercial | Equipment finance  
Term Loans and Leases by Origination Year  
2025 0
2024 0
2023 0
2022 0
Prior 0
Total 0
Commercial | Commercial real estate  
Term Loans and Leases by Origination Year  
2025 0
2024 0
2023 0
2022 0
Prior 0
Total 0
Commercial | Commercial and industrial  
Term Loans and Leases by Origination Year  
2025 0
2024 0
2023 0
2022 126
Prior 0
Total $ 126
v3.26.1
Loans- Schedule of Consumer Lending Credit Quality Indicators and Commercial Lending Credit Quality Indicators (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Term Loans and Leases by Origination Year    
Total $ 3,700,837 $ 4,272,812
Loans and leases held for investment    
Term Loans and Leases by Origination Year    
Portfolio layer method basis adjustment - increase (decrease) 800 1,597
Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method    
Term Loans and Leases by Origination Year    
Year 1   1,896,796
Year 2 1,648,711 805,532
Year 3 667,483 379,062
Year 4 297,717 362,541
Year 5 288,915 95,729
Prior 138,557 62,291
Total 3,041,383 3,601,951
Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method | Unsecured consumer    
Term Loans and Leases by Origination Year    
Year 1   1,761,554
Year 2 1,529,442 757,659
Year 3 626,970 335,672
Year 4 261,248 293,378
Year 5 226,047 41,570
Prior 24,518 0
Total 2,668,225 3,189,833
Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method | Residential mortgages    
Term Loans and Leases by Origination Year    
Year 1   0
Year 2 0 0
Year 3 0 0
Year 4 0 40,931
Year 5 40,485 50,129
Prior 108,989 60,013
Total 149,474 151,073
Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method | Secured consumer    
Term Loans and Leases by Origination Year    
Year 1   135,242
Year 2 119,269 47,873
Year 3 40,513 43,390
Year 4 36,469 28,232
Year 5 22,383 4,030
Prior 5,050 2,278
Total 223,684 261,045
Commercial    
Term Loans and Leases by Origination Year    
Year 1   117,723
Year 2 121,181 67,487
Year 3 66,683 90,371
Year 4 88,196 159,824
Year 5 154,833 73,459
Prior 227,723 160,400
Total 658,616 669,264
Commercial | Loans guaranteed by the Small Business Association    
Term Loans and Leases by Origination Year    
Total 144,626 148,333
Commercial | Equipment finance    
Term Loans and Leases by Origination Year    
Year 1   0
Year 2 0 0
Year 3 0 0
Year 4 0 24,566
Year 5 22,927 5,429
Prior 13,520 9,762
Total 36,447 39,757
Commercial | Equipment finance | Loans guaranteed by the 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
Year 2 0 0
Year 3 0 0
Year 4 0 21,283
Year 5 20,014 1,990
Prior 10,404 9,762
Total 30,418 33,035
Commercial | Equipment finance | Pass | Loans guaranteed by the 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
Year 2 0 0
Year 3 0 0
Year 4 0 2,587
Year 5 2,213 227
Prior 130 0
Total 2,343 2,814
Commercial | Equipment finance | Special mention | Loans guaranteed by the 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
Year 2 0 0
Year 3 0 0
Year 4 0 0
Year 5 0 3,212
Prior 2,986 0
Total 2,986 3,212
Commercial | Equipment finance | Substandard | Loans guaranteed by the 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
Year 2 0 0
Year 3 0 0
Year 4 0 696
Year 5 700 0
Prior 0 0
Total 700 696
Commercial | Equipment finance | Doubtful | Loans guaranteed by the 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
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 the 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
Year 2 97,110 36,356
Year 3 36,217 63,750
Year 4 63,170 96,320
Year 5 94,855 41,156
Prior 178,596 139,171
Total 469,948 472,489
Commercial | Commercial real estate | Loans guaranteed by the Small Business Association    
Term Loans and Leases by Origination Year    
Total 38,372 39,507
Commercial | Commercial real estate | Pass    
Term Loans and Leases by Origination Year    
Year 1   95,736
Year 2 97,110 36,356
Year 3 36,217 63,750
Year 4 63,170 94,771
Year 5 93,309 32,452
Prior 151,904 121,231
Total 441,710 444,296
Commercial | Commercial real estate | Pass | Loans guaranteed by the Small Business Association    
Term Loans and Leases by Origination Year    
Total 29,944 30,959
Commercial | Commercial real estate | Special mention    
Term Loans and Leases by Origination Year    
Year 1   0
Year 2 0 0
Year 3 0 0
Year 4 0 0
Year 5 0 0
Prior 6,020 6,088
Total 6,020 6,088
Commercial | Commercial real estate | Special mention | Loans guaranteed by the 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
Year 2 0 0
Year 3 0 0
Year 4 0 428
Year 5 425 8,433
Prior 19,942 11,370
Total 20,367 20,231
Commercial | Commercial real estate | Substandard | Loans guaranteed by the Small Business Association    
Term Loans and Leases by Origination Year    
Total 6,886 7,005
Commercial | Commercial real estate | Doubtful    
Term Loans and Leases by Origination Year    
Year 1   0
Year 2 0 0
Year 3 0 0
Year 4 0 0
Year 5 0 0
Prior 60 61
Total 60 61
Commercial | Commercial real estate | Doubtful | Loans guaranteed by the 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
Year 2 0 0
Year 3 0 0
Year 4 0 1,121
Year 5 1,121 271
Prior 670 421
Total 1,791 1,813
Commercial | Commercial real estate | Loss | Loans guaranteed by the Small Business Association    
Term Loans and Leases by Origination Year    
Total 1,542 1,543
Commercial | Commercial and industrial    
Term Loans and Leases by Origination Year    
Year 1   21,987
Year 2 24,071 31,131
Year 3 30,466 26,621
Year 4 25,026 38,938
Year 5 37,051 26,874
Prior 35,607 11,467
Total 152,221 157,018
Commercial | Commercial and industrial | Loans guaranteed by the Small Business Association    
Term Loans and Leases by Origination Year    
Total 106,254 108,826
Commercial | Commercial and industrial | Pass    
Term Loans and Leases by Origination Year    
Year 1   21,987
Year 2 24,071 28,942
Year 3 28,358 16,580
Year 4 15,443 18,108
Year 5 14,082 19,441
Prior 27,072 7,879
Total 109,026 112,937
Commercial | Commercial and industrial | Pass | Loans guaranteed by the Small Business Association    
Term Loans and Leases by Origination Year    
Total 73,716 75,216
Commercial | Commercial and industrial | Special mention    
Term Loans and Leases by Origination Year    
Year 1   0
Year 2 0 0
Year 3 0 0
Year 4 0 8,535
Year 5 4,641 2,959
Prior 402 67
Total 5,043 11,561
Commercial | Commercial and industrial | Special mention | Loans guaranteed by the Small Business Association    
Term Loans and Leases by Origination Year    
Total 3,915 9,264
Commercial | Commercial and industrial | Substandard    
Term Loans and Leases by Origination Year    
Year 1   0
Year 2 0 1,438
Year 3 1,357 8,275
Year 4 8,394 5,153
Year 5 11,124 3,126
Prior 6,637 3,010
Total 27,512 21,002
Commercial | Commercial and industrial | Substandard | Loans guaranteed by the Small Business Association    
Term Loans and Leases by Origination Year    
Total 18,870 13,790
Commercial | Commercial and industrial | Doubtful    
Term Loans and Leases by Origination Year    
Year 1   0
Year 2 0 0
Year 3 0 0
Year 4 0 3,456
Year 5 3,456 1,348
Prior 1,496 511
Total 4,952 5,315
Commercial | Commercial and industrial | Doubtful | Loans guaranteed by the Small Business Association    
Term Loans and Leases by Origination Year    
Total 4,065 4,353
Commercial | Commercial and industrial | Loss    
Term Loans and Leases by Origination Year    
Year 1   0
Year 2 0 751
Year 3 751 1,766
Year 4 1,189 3,686
Year 5 3,748 0
Prior 0 0
Total 5,688 6,203
Commercial | Commercial and industrial | Loss | Loans guaranteed by the Small Business Association    
Term Loans and Leases by Origination Year    
Total 5,688 6,203
Current | Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method | Unsecured consumer    
Term Loans and Leases by Origination Year    
Year 1   1,741,108
Year 2 1,505,717 740,483
Year 3 613,240 326,147
Year 4 254,235 283,513
Year 5 219,279 39,605
Prior 23,254 0
Total 2,615,725 3,130,856
Current | Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method | Residential mortgages    
Term Loans and Leases by Origination Year    
Year 1   0
Year 2 0 0
Year 3 0 0
Year 4 0 40,931
Year 5 39,778 50,129
Prior 107,952 59,039
Total 147,730 150,099
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
Year 2 117,930 47,453
Year 3 40,053 42,332
Year 4 35,507 26,961
Year 5 21,555 3,769
Prior 4,874 2,278
Total 219,919 257,048
Current | Commercial    
Term Loans and Leases by Origination Year    
Total 619,098 630,806
Current | Commercial | Equipment finance    
Term Loans and Leases by Origination Year    
Total 32,824 35,973
Current | Commercial | Commercial real estate    
Term Loans and Leases by Origination Year    
Total 459,254 461,307
Current | Commercial | Commercial and industrial    
Term Loans and Leases by Origination Year    
Total 127,020 133,526
30-59 days past due | Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method | Unsecured consumer    
Term Loans and Leases by Origination Year    
Year 1   9,084
Year 2 8,523 5,680
Year 3 5,739 3,533
Year 4 2,577 3,591
Year 5 2,374 603
Prior 500 0
Total 19,713 22,491
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
Year 2 0 0
Year 3 0 0
Year 4 0 0
Year 5 707 0
Prior 1,012 0
Total 1,719 0
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
Year 2 995 261
Year 3 337 816
Year 4 799 941
Year 5 712 210
Prior 140 0
Total 2,983 3,006
30-59 days past due | Commercial    
Term Loans and Leases by Origination Year    
Total 3,662 2,236
30-59 days past due | Commercial | Equipment finance    
Term Loans and Leases by Origination Year    
Total 0 696
30-59 days past due | Commercial | Commercial real estate    
Term Loans and Leases by Origination Year    
Total 0 0
30-59 days past due | Commercial | Commercial and industrial    
Term Loans and Leases by Origination Year    
Total 3,662 1,540
60-89 days past due | Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method | Unsecured consumer    
Term Loans and Leases by Origination Year    
Year 1   6,500
Year 2 7,984 5,447
Year 3 4,120 2,887
Year 4 2,188 3,051
Year 5 2,161 665
Prior 382 0
Total 16,835 18,550
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
Year 2 0 0
Year 3 0 0
Year 4 0 0
Year 5 0 0
Prior 0 888
Total 0 888
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
Year 2 256 128
Year 3 62 109
Year 4 96 177
Year 5 95 51
Prior 36 0
Total 545 596
60-89 days past due | Commercial    
Term Loans and Leases by Origination Year    
Total 1,816 1,878
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 399 0
60-89 days past due | Commercial | Commercial and industrial    
Term Loans and Leases by Origination Year    
Total 1,417 1,878
90 or more days past due | Consumer Portfolio Segment, Excluding Cumulative Basis Adjustment for Portfolio Layer Method | Unsecured consumer    
Term Loans and Leases by Origination Year    
Year 1   4,862
Year 2 7,218 6,049
Year 3 3,871 3,105
Year 4 2,248 3,223
Year 5 2,233 697
Prior 382 0
Total 15,952 17,936
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
Year 2 0 0
Year 3 0 0
Year 4 0 0
Year 5 0 0
Prior 25 86
Total 25 86
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
Year 2 88 31
Year 3 61 133
Year 4 67 153
Year 5 21 0
Prior 0 0
Total 237 395
90 or more days past due | Commercial    
Term Loans and Leases by Origination Year    
Total 34,040 34,344
90 or more days past due | Commercial | Equipment finance    
Term Loans and Leases by Origination Year    
Total 3,623 3,088
90 or more days past due | Commercial | Commercial real estate    
Term Loans and Leases by Origination Year    
Total 10,295 11,182
90 or more days past due | Commercial | Commercial and industrial    
Term Loans and Leases by Origination Year    
Total $ 20,122 $ 20,074
v3.26.1
Loans - Schedule of Analysis of the Past Due Loans and Leases HFI at Amortized Cost (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost $ 3,700,837 $ 4,272,812
Commercial    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 658,616 669,264
Commercial | Loans guaranteed by the Small Business Association    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 144,626 148,333
Commercial | Current    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 619,098 630,806
Commercial | 30-59 days past due    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 3,662 2,236
Commercial | 60-89 days past due    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 1,816 1,878
Commercial | 90 or more days past due    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 34,040 34,344
Commercial | Total    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 658,616 669,264
Commercial | Equipment finance    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 36,447 39,757
Commercial | Equipment finance | Loans guaranteed by the Small Business Association    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 0 0
Commercial | Equipment finance | Current    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 32,824 35,973
Commercial | Equipment finance | 30-59 days past due    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 0 696
Commercial | Equipment finance | 60-89 days past due    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 0 0
Commercial | Equipment finance | 90 or more days past due    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 3,623 3,088
Commercial | Equipment finance | Total    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 36,447 39,757
Commercial | Commercial real estate    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 469,948 472,489
Commercial | Commercial real estate | Loans guaranteed by the Small Business Association    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 38,372 39,507
Commercial | Commercial real estate | Current    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 459,254 461,307
Commercial | Commercial real estate | 30-59 days past due    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 0 0
Commercial | Commercial real estate | 60-89 days past due    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 399 0
Commercial | Commercial real estate | 90 or more days past due    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 10,295 11,182
Commercial | Commercial real estate | Total    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 469,948 472,489
Commercial | Commercial and industrial    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 152,221 157,018
Commercial | Commercial and industrial | Loans guaranteed by the Small Business Association    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 106,254 108,826
Commercial | Commercial and industrial | Current    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 127,020 133,526
Commercial | Commercial and industrial | 30-59 days past due    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 3,662 1,540
Commercial | Commercial and industrial | 60-89 days past due    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 1,417 1,878
Commercial | Commercial and industrial | 90 or more days past due    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost 20,122 20,074
Commercial | Commercial and industrial | Total    
Financing Receivable, Modified [Line Items]    
Total commercial loans and leases held for investment at amortized cost $ 152,221 $ 157,018
v3.26.1
Loans - Schedule of Loan Modifications (Details) - Consumer - Unsecured consumer - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Financing Receivable, Modified [Line Items]    
Total loan modifications – unsecured consumer loans $ 10,564 $ 12,135
% of unsecured consumer loans at amortized cost as of period end 0.40% 0.40%
Short-term payment reduction    
Financing Receivable, Modified [Line Items]    
Total loan modifications – unsecured consumer loans $ 6,074 $ 7,010
Permanent loan modification    
Financing Receivable, Modified [Line Items]    
Total loan modifications – unsecured consumer loans 1,893 1,693
Debt settlement    
Financing Receivable, Modified [Line Items]    
Total loan modifications – unsecured consumer loans $ 2,597 $ 3,432
v3.26.1
Loans - Narrative (Details) - Consumer - Unsecured consumer - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Short-term payment reduction | 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 | Short-term payment reduction modification | Minimum    
Term Loans and Leases by Origination Year    
Financing receivable, modified, term increase from modification 5 months  
Short-term payment reduction | Short-term payment reduction modification | Maximum    
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 | Short-term payment reduction modification    
Term Loans and Leases by Origination Year    
Financing receivable, excluding accrued interest, modified, accumulated $ 14.0  
Extended maturity | 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
Contractual interest rate reduction | Permanent loan modification    
Term Loans and Leases by Origination Year    
Financing receivable, modified, weighted average interest rate decrease from modification 9.00% 8.50%
v3.26.1
Loans - Schedule of Amortized Cost of Loan Modifications (Details) - Consumer - Unsecured consumer - USD ($)
$ in Thousands
Mar. 31, 2026
Mar. 31, 2025
Short-term payment reduction    
Financing Receivable, Modified [Line Items]    
Total loan modifications $ 17,664 $ 22,741
Short-term payment reduction | Current    
Financing Receivable, Modified [Line Items]    
Total loan modifications 14,531 18,894
Short-term payment reduction | 30-59 days past due    
Financing Receivable, Modified [Line Items]    
Total loan modifications 1,410 1,654
Short-term payment reduction | 60-89 days past due    
Financing Receivable, Modified [Line Items]    
Total loan modifications 968 1,169
Short-term payment reduction | 90 or more days past due    
Financing Receivable, Modified [Line Items]    
Total loan modifications 755 1,024
Permanent loan modification    
Financing Receivable, Modified [Line Items]    
Total loan modifications 5,983 5,801
Permanent loan modification | Current    
Financing Receivable, Modified [Line Items]    
Total loan modifications 5,719 5,340
Permanent loan modification | 30-59 days past due    
Financing Receivable, Modified [Line Items]    
Total loan modifications 112 175
Permanent loan modification | 60-89 days past due    
Financing Receivable, Modified [Line Items]    
Total loan modifications 87 174
Permanent loan modification | 90 or more days past due    
Financing Receivable, Modified [Line Items]    
Total loan modifications 65 112
Debt settlement    
Financing Receivable, Modified [Line Items]    
Total loan modifications 2,643 3,521
Debt settlement | Current    
Financing Receivable, Modified [Line Items]    
Total loan modifications 9 32
Debt settlement | 30-59 days past due    
Financing Receivable, Modified [Line Items]    
Total loan modifications 6 24
Debt settlement | 60-89 days past due    
Financing Receivable, Modified [Line Items]    
Total loan modifications 652 837
Debt settlement | 90 or more days past due    
Financing Receivable, Modified [Line Items]    
Total loan modifications $ 1,976 $ 2,628
v3.26.1
Loans - Schedule of Total Amount of Charge-Offs for Loan Modifications (Details) - Consumer - Unsecured consumer - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Financing Receivable, Modified [Line Items]    
Total loan modifications – unsecured consumer loans $ 10,953 $ 16,444
Short-term payment reduction    
Financing Receivable, Modified [Line Items]    
Total loan modifications – unsecured consumer loans 1,846 2,586
Permanent loan modification    
Financing Receivable, Modified [Line Items]    
Total loan modifications – unsecured consumer loans 439 522
Debt settlement    
Financing Receivable, Modified [Line Items]    
Total loan modifications – unsecured consumer loans $ 8,668 $ 13,336
v3.26.1
Loans - Schedule of Nonaccrual Loans and Leases (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Financing Receivable, Past Due [Line Items]    
Nonaccrual $ 58,726 $ 60,432
Nonaccrual with no related ACL $ 16,699 $ 16,367
Nonaccrual ratios (as a percent) 1.60% 1.40%
Consumer    
Financing Receivable, Past Due [Line Items]    
Nonaccrual $ 16,488 $ 18,762
Nonaccrual with no related ACL $ 299 $ 431
Nonaccrual ratios (as a percent) 0.50% 0.50%
Consumer | Unsecured consumer    
Financing Receivable, Past Due [Line Items]    
Nonaccrual $ 15,952 $ 17,936
Nonaccrual with no related ACL 0 0
Consumer | Residential mortgages    
Financing Receivable, Past Due [Line Items]    
Nonaccrual 299 431
Nonaccrual with no related ACL 299 431
Consumer | Secured consumer    
Financing Receivable, Past Due [Line Items]    
Nonaccrual 237 395
Nonaccrual with no related ACL 0 0
Commercial    
Financing Receivable, Past Due [Line Items]    
Nonaccrual 42,238 41,670
Nonaccrual with no related ACL $ 16,400 $ 15,936
Nonaccrual ratios (as a percent) 6.40% 6.20%
Commercial | Loans guaranteed by the Small Business Association    
Financing Receivable, Past Due [Line Items]    
Nonaccrual $ 29,500 $ 29,700
Commercial | Equipment finance    
Financing Receivable, Past Due [Line Items]    
Nonaccrual 3,623 3,088
Nonaccrual with no related ACL 0 0
Commercial | Commercial real estate    
Financing Receivable, Past Due [Line Items]    
Nonaccrual 10,761 11,253
Nonaccrual with no related ACL 5,810 5,799
Commercial | Commercial and industrial    
Financing Receivable, Past Due [Line Items]    
Nonaccrual 27,854 27,329
Nonaccrual with no related ACL $ 10,590 $ 10,137
v3.26.1
Fair Value Measurements - Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Assets        
Loans held for sale at fair value $ 1,836,121 $ 1,762,396    
Loans held for investment at fair value 1,237,850 473,314    
Securities available for sale:        
Total securities available for sale 3,867,576 3,706,709    
Servicing assets 67,078 65,167 $ 56,904 $ 60,697
Other assets 6,111 2,099    
Total assets 7,014,736 6,009,685    
Liabilities:        
Other liabilities 3,058 5,783    
Total liabilities 3,058 5,783    
Senior asset-backed securities related to Structured Program transactions        
Securities available for sale:        
Total securities available for sale 3,246,380 3,092,410    
Other asset-backed securities related to Structured Program transactions        
Securities available for sale:        
Total securities available for sale 238,349 219,370    
U.S. agency residential mortgage-backed securities        
Securities available for sale:        
Total securities available for sale 228,900 236,061    
U.S. agency securities        
Securities available for sale:        
Total securities available for sale 70,495 73,862    
Mortgage-backed securities        
Securities available for sale:        
Total securities available for sale 54,824 55,597    
Municipal securities        
Securities available for sale:        
Total securities available for sale 2,586 2,606    
Other securities        
Securities available for sale:        
Total securities available for sale 26,042 26,803    
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 | 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 residential mortgage-backed securities        
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 372,609 384,846    
Servicing assets 0 0    
Other assets 6,111 2,099    
Total assets 378,720 386,945    
Liabilities:        
Other liabilities 2,338 3,918    
Total liabilities 2,338 3,918    
Level 2 | Senior asset-backed securities related to Structured Program transactions        
Securities available for sale:        
Total securities available for sale 0 0    
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 residential mortgage-backed securities        
Securities available for sale:        
Total securities available for sale 228,900 236,061    
Level 2 | U.S. agency securities        
Securities available for sale:        
Total securities available for sale 70,495 73,862    
Level 2 | Mortgage-backed securities        
Securities available for sale:        
Total securities available for sale 54,824 55,597    
Level 2 | Municipal securities        
Securities available for sale:        
Total securities available for sale 2,586 2,606    
Level 2 | Other securities        
Securities available for sale:        
Total securities available for sale 15,804 16,720    
Level 3        
Assets        
Loans held for sale at fair value 1,836,121 1,762,396    
Loans held for investment at fair value 1,237,850 473,314    
Securities available for sale:        
Total securities available for sale 3,494,967 3,321,863    
Servicing assets 67,078 65,167    
Other assets 0 0    
Total assets 6,636,016 5,622,740    
Liabilities:        
Other liabilities 720 1,865    
Total liabilities 720 1,865    
Level 3 | Senior asset-backed securities related to Structured Program transactions        
Securities available for sale:        
Total securities available for sale 3,246,380 3,092,410    
Level 3 | Other asset-backed securities related to Structured Program transactions        
Securities available for sale:        
Total securities available for sale 238,349 219,370    
Level 3 | U.S. agency residential mortgage-backed securities        
Securities available for sale:        
Total securities available for sale 0 0    
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 $ 10,238 $ 10,083    
v3.26.1
Fair Value Measurements - Schedule of Significant Unobservable Inputs Used in the Fair Value Measurement of Loans HFS (Details) - Level 3
Mar. 31, 2026
Dec. 31, 2025
Discount rate | Minimum    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input 0.068 0.066
Discount rate | Maximum    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input 0.091 0.090
Discount rate | Weighted Average    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input 0.073 0.071
Annualized net credit loss rate | Minimum    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input 0.034 0.033
Annualized net credit loss rate | Maximum    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input 0.154 0.160
Annualized net credit loss rate | Weighted Average    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input 0.064 0.063
Annualized prepayment rate | Minimum    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input 0.207 0.205
Annualized prepayment rate | Maximum    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input 0.262 0.260
Annualized prepayment rate | Weighted Average    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input 0.257 0.255
v3.26.1
Fair Value Measurements - Schedule of Sensitivity of Loans HFS at Fair Value to Adverse Changes in Key Assumptions (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Loans held for sale at fair value $ 1,836,121 $ 1,762,396
Loans Held For Sale    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Loans held for sale at fair value 1,836,121 1,762,396
Discount rates, impact of 100 basis point increase (21,171) (21,458)
Discount rates, impact of 200 basis point increase (41,913) (42,471)
Expected credit loss rates on underlying loans, 10% adverse change (22,740) (20,970)
Expected credit loss rates on underlying loans, 20% adverse change (45,297) (41,766)
Expected prepayment rates, 10% adverse change (7,537) (5,703)
Expected prepayment rates, 20% adverse change $ (14,154) $ (10,546)
Loans Held For Sale | Expected weighted-average life    
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 4 months 24 days
v3.26.1
Fair Value Measurements - Schedule of Loans HFS at Fair Value Activity and Aggregate Fair Value of HFS Loans (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Fair value of loans held for investment $ 1,836,121   $ 1,762,396
Loans Held For Sale      
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Fair value at beginning of period 1,762,396 $ 636,352  
Originations 1,702,683 1,263,732  
Sales (1,384,274) (1,096,929)  
Principal payments (186,421) (68,555)  
Realized charge-offs, net of recoveries, recorded in earnings (12,066) (6,704)  
Fair value adjustments recorded in earnings (46,197) (24,518)  
Fair value at end of period 1,836,121 $ 703,378  
Aggregate unpaid principal balance 1,892,826   1,795,818
Cumulative fair value adjustments (56,705)   (33,422)
Fair value of loans held for investment 1,836,121   1,762,396
Loans Held For Sale | 90 or more days past due      
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Aggregate unpaid principal balance 5,292   3,931
Cumulative fair value adjustments (4,260)   (3,176)
Fair value of loans held for investment $ 1,032   $ 755
v3.26.1
Fair Value Measurements - Schedule of Significant Unobservable Inputs Used in the Fair Value Measurement of Loans HFI (Details) - Level 3
Mar. 31, 2026
Dec. 31, 2025
Minimum | Discount rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, percent 0.052 0.065
Minimum | Annualized net charge-off rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, percent 0.003 0.041
Minimum | Annualized prepayment rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, percent 0.167 0.196
Maximum | Discount rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, percent 0.106 0.085
Maximum | Annualized net charge-off rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, percent 0.149 0.191
Maximum | Annualized prepayment rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, percent 0.447 0.211
Weighted Average | Discount rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, percent 0.070 0.070
Weighted Average | Annualized net charge-off rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, percent 0.055 0.074
Weighted Average | Annualized prepayment rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, percent 0.233 0.200
v3.26.1
Fair Value Measurements - Schedule of Sensitivity of Loans HFI at Fair Value to Adverse Changes in Key Assumptions (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Loans held for investment at fair value $ 3,073,971 $ 2,235,710
Loans held for investment    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Loans held for investment at fair value 1,237,850 473,314
Discount rates, impact of 100 basis point increase (15,470) (2,832)
Discount rates, impact of 200 basis point increase (30,504) (5,633)
Expected credit loss rates on underlying loans, impact of 10% increase (13,888) (5,738)
Expected credit loss rates on underlying loans, impact of 20% increase (27,737) (13,161)
Expected prepayment rates, impact of 10% increase (6,131) (2,490)
Expected prepayment rates, impact of 20% increase $ (12,543) $ (4,979)
Loans held for investment | Weighted Average | Expected weighted-average life    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Expected remaining weighted-average life (in years) 1 year 3 months 18 days 8 months 12 days
v3.26.1
Fair Value Measurements - Schedule of Loans HFI at Fair Value Activity and Aggregate Fair Value of HFI Loans (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Fair value of loans held for investment $ 3,073,971   $ 2,235,710
Balance at Fair Value      
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Fair value of loans held for investment 3,673,022   4,251,852
Loans held for investment      
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Fair value at beginning of period 473,314 $ 1,027,798  
Originations 947,201 0  
Purchases 27,635 12,744  
Principal payments (176,656) (218,460)  
Realized charge-offs, net of recoveries, recorded in earnings (3,601) (27,205)  
Fair value adjustments recorded in earnings (30,043) 24,005  
Fair value at end of period 1,237,850 $ 818,882  
Fair value of loans held for investment 1,237,850   473,314
Loans held for investment | Balance at Fair Value | Off-balance Sheet Loans      
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Aggregate unpaid principal balance 1,290,246   495,649
Cumulative fair value adjustments (52,396)   (22,335)
Fair value of loans held for investment 1,237,850   473,314
Loans held for investment | Balance at Fair Value | Off-balance Sheet Loans | 90 or more days past due      
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]      
Aggregate unpaid principal balance 4,487   5,177
Cumulative fair value adjustments (3,612)   (4,183)
Fair value of loans held for investment $ 875   $ 994
v3.26.1
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
Mar. 31, 2026
Dec. 31, 2025
Minimum    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, debt securities available-for-sale 0.051 0.050
Maximum    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, debt securities available-for-sale 0.065 0.054
Weighted Average    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, debt securities available-for-sale 0.053 0.052
v3.26.1
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
Mar. 31, 2026
Dec. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 3,867,576 $ 3,706,709
Senior asset-backed securities related to Structured Program transactions    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 3,246,380 3,092,410
100 basis point increase (35,075) (32,467)
200 basis point increase $ (70,149) $ (64,934)
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 1 month 6 days
v3.26.1
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
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair value at beginning of period $ 3,092,410 $ 2,899,824
Additions 626,590 324,116
Cash received (461,147) (351,665)
Change in unrealized loss (11,473) (2,994)
Fair value at end of period $ 3,246,380 $ 2,869,281
v3.26.1
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
Mar. 31, 2026
Dec. 31, 2025
Minimum | Discount rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, debt securities available-for-sale 0.068 0.066
Minimum | Annualized net credit loss rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, debt securities available-for-sale 0.033 0.031
Minimum | Annualized prepayment rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, debt securities available-for-sale 0.220 0.228
Maximum | Discount rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, debt securities available-for-sale 0.087 0.086
Maximum | Annualized net credit loss rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, debt securities available-for-sale 0.064 0.062
Maximum | Annualized prepayment rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, debt securities available-for-sale 0.272 0.274
Weighted Average | Discount rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, debt securities available-for-sale 0.071 0.069
Weighted Average | Annualized net credit loss rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, debt securities available-for-sale 0.054 0.050
Weighted Average | Annualized prepayment rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, debt securities available-for-sale 0.260 0.258
v3.26.1
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
Mar. 31, 2026
Dec. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value $ 3,867,576 $ 3,706,709
Other asset-backed securities related to Structured Program transactions    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Fair Value 238,349 219,370
Discount rate:    
100 basis point increase (2,495) (2,285)
200 basis point increase (4,942) (4,529)
Annualized net charge-off rate:    
10% increase (2,431) (2,077)
20% increase (4,873) (4,112)
Annualized prepayment rate:    
10% increase (1,074) (674)
20% increase $ (2,020) $ (1,227)
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 1 month 6 days 1 year 2 months 12 days
v3.26.1
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
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair value at beginning of period $ 219,370 $ 169,948
Additions 52,958 24,886
Cash received (32,776) (21,303)
Credit loss benefit (expense) for securities available for sale 277 (1,321)
Change in unrealized (loss) gain (1,480) 334
Fair value at end of period $ 238,349 $ 172,544
v3.26.1
Fair Value Measurements - Schedule of Significant Unobservable Inputs Used in the Fair Value Measurement of Servicing Assets (Details) - Level 3
Mar. 31, 2026
Dec. 31, 2024
Minimum | Discount rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, percent 0.089 0.089
Minimum | Annualized net credit loss rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, percent 0.034 0.033
Minimum | Annualized prepayment rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, percent 0.200 0.199
Minimum | Market servicing rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, percent 0.0058 0.0058
Maximum | Discount rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, percent 0.162 0.162
Maximum | Annualized net credit loss rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, percent 0.184 0.195
Maximum | Annualized prepayment rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, percent 0.265 0.259
Maximum | Market servicing rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, percent 0.0058 0.0058
Weighted Average | Discount rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, percent 0.103 0.104
Weighted Average | Annualized net credit loss rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, percent 0.061 0.065
Weighted Average | Annualized prepayment rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, percent 0.255 0.246
Weighted Average | Market servicing rate    
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]    
Measurement input, percent 0.0058 0.0058
v3.26.1
Fair Value Measurements - Schedule of Sensitivity in the Fair Value of Servicing Assets to Adverse Changes in Key Assumptions (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Servicing assets $ 67,078 $ 65,167 $ 56,904 $ 60,697
Level 3        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Servicing assets 67,078 65,167    
Level 3 | Servicing Assets        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Servicing assets $ 67,078 $ 65,167    
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 $ (589) $ (567)    
Discount rates, impact of 200 basis point increase (1,178) (1,134)    
Expected credit loss on rates on underlying loans, 10% adverse change (574) (536)    
Expected credit loss on rates on underlying loans, 20% adverse change (1,148) (1,071)    
Expected prepayment rates, 10% adverse change (2,013) (1,892)    
Expected prepayment rates, 20% adverse change $ (4,025) $ (3,785)    
v3.26.1
Fair Value Measurements - Schedule of Estimated Fair Value of Servicing Assets (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Fair Value Disclosures [Abstract]    
Weighted-average market servicing rate assumptions 0.58% 0.58%
Market servicing rate increase by .1% $ (7,451) $ (7,289)
Market servicing rate decrease by .1% $ 7,451 $ 7,289
Change in rate 0.10% 0.10%
v3.26.1
Fair Value Measurements - Schedule of Servicing Assets at Fair Value Activity (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Servicing Assets, Changes in fair value due to:    
Fair value at beginning of period $ 65,167 $ 60,697
Issuances 17,485 13,265
Change in fair value (15,574) (17,058)
Fair value at end of period $ 67,078 $ 56,904
v3.26.1
Fair Value Measurements - Schedule of Financial Instruments Not Recorded at Fair Value (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets    
Loans and leases held for investment at amortized cost, net $ 3,073,971 $ 2,235,710
Other assets 6,111 2,099
Total assets 7,014,736 6,009,685
Liabilities:    
Other liabilities 3,058 5,783
Total liabilities 3,058 5,783
Level 1    
Assets    
Other assets 0 0
Total assets 0 0
Liabilities:    
Other liabilities 0 0
Total liabilities 0 0
Level 2    
Assets    
Other assets 6,111 2,099
Total assets 378,720 386,945
Liabilities:    
Other liabilities 2,338 3,918
Total liabilities 2,338 3,918
Level 3    
Assets    
Other assets 0 0
Total assets 6,636,016 5,622,740
Liabilities:    
Other liabilities 720 1,865
Total liabilities 720 1,865
Carrying Amount    
Assets    
Loans and leases held for investment at amortized cost, net 3,463,140 3,997,069
Other assets 50,514 47,470
Total assets 3,513,654 4,044,539
Liabilities:    
Deposits 2,536,168 2,434,422
Other liabilities 47,245 40,931
Total liabilities 2,583,413 2,475,353
Balance at Fair Value    
Assets    
Loans and leases held for investment at amortized cost, net 3,673,022 4,251,852
Other assets 50,514 47,765
Total assets 3,723,536 4,299,617
Liabilities:    
Deposits 2,538,320 2,437,209
Other liabilities 47,245 40,931
Total liabilities 2,585,565 2,478,140
Balance at Fair Value | Level 1    
Assets    
Loans and leases held for investment at amortized cost, 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 at amortized cost, net 0 0
Other assets 50,375 47,312
Total assets 50,375 47,312
Liabilities:    
Deposits 0 0
Other liabilities 19,029 11,926
Total liabilities 19,029 11,926
Balance at Fair Value | Level 3    
Assets    
Loans and leases held for investment at amortized cost, net 3,673,022 4,251,852
Other assets 139 453
Total assets 3,673,161 4,252,305
Liabilities:    
Deposits 2,538,320 2,437,209
Other liabilities 28,216 29,005
Total liabilities $ 2,566,536 $ 2,466,214
v3.26.1
Structured Program Transactions and Variable Interest Entities - Schedule of VIE Assets and Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Assets    
Total securities available for sale $ 3,867,576 $ 3,706,709
Other assets 364,101 368,086
Total assets 11,939,839 11,567,816
Liabilities:    
Other liabilities 226,800 233,518
Total liabilities 10,416,311 10,067,388
Unconsolidated    
Assets    
Total securities available for sale 3,484,729 3,311,780
Other assets 56,684 53,660
Total assets 3,541,413 3,365,440
Liabilities:    
Other liabilities 355 1,023
Total liabilities 355 1,023
Total net assets (maximum loss exposure) $ 3,541,058 $ 3,364,417
v3.26.1
Structured Program Transactions and Variable Interest Entities - Schedule of Unconsolidated VIEs (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Fair value of consideration received:    
Gain on sales of loans $ 16,269 $ 12,202
Unconsolidated    
Fair value of consideration received:    
Cash 416,098 148,379
Net securities retained from Structured Program transactions 635,132 349,002
Other assets, net 12,585 5,974
Total consideration 1,063,815 503,355
Fair value of loans sold (1,051,786) (498,058)
Gain on sales of loans 12,029 5,297
Cash proceeds from continuing involvement:    
Servicing and other administrative fees 11,350 8,896
Interest received on securities retained from Structured Program transactions $ 50,996 $ 51,134
v3.26.1
Structured Program Transactions and Variable Interest Entities - Narrative (Details) - Off-balance Sheet Loans - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Variable Interest Entity [Line Items]    
Principal derecognized from loans securitized or sold $ 4,700.0 $ 4,400.0
Off-balance sheet loans, principal amount outstanding, 31 days or more past due $ 65.2 $ 64.9
v3.26.1
Derivative Instruments and Hedging Activities - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Maximum term of credit risk derivatives 18 months  
Notional $ 2,001,404 $ 453,737
Designated as Hedging Instrument    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional 0  
Loans and leases held for investment    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Unamortized basis adjustment 800  
Securities available for sale    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Unamortized basis adjustment $ 400  
v3.26.1
Derivative Instruments and Hedging Activities - Schedule of Notional and Gross Fair Value Amounts of Derivatives Not Designated (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional $ 2,001,404 $ 453,737
Derivative Asset 5,396 528
Derivative Liability (1,978) (1,561)
Credit derivatives    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional 1,404 3,737
Derivative Asset 0 0
Derivative Liability (355) (1,327)
Interest rate contracts    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional 2,000,000 450,000
Derivative Asset 5,396 528
Derivative Liability (1,623) (234)
Interest rate caps    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional 675,000 325,000
Derivative Asset 4,430 528
Derivative Liability 0 0
Interest rate swaps    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional 1,325,000 125,000
Derivative Asset 966 0
Derivative Liability $ (1,623) $ (234)
v3.26.1
Derivative Instruments and Hedging Activities - Schedule of Gains (Losses) on Derivatives (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Total gains $ 3,190 $ 1,099
Credit derivatives    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Total gains 289 1,159
Interest rate contracts    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Total gains $ 2,901 $ (60)
v3.26.1
Derivative Instruments and Hedging Activities - Schedule of Notional and Gross Fair Value Amounts of Derivatives Used for Hedging (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional $ 2,001,404 $ 453,737
Derivative Asset 5,396 528
Derivative Liability (1,978) (1,561)
Designated as Hedging Instrument    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional 0  
Interest rate swaps    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional 1,325,000 125,000
Derivative Asset 966 0
Derivative Liability $ (1,623) (234)
Interest rate swaps | Fair Value Hedging | Designated as Hedging Instrument    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional   1,050,000
Derivative Asset   227
Derivative Liability   (2,340)
Interest rate swaps | Fair Value Hedging | Designated as Hedging Instrument | Unsecured consumer loans    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Notional   575,000
Derivative Asset   81
Derivative Liability   (1,566)
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
Derivative Asset   146
Derivative Liability   $ (774)
v3.26.1
Derivative Instruments and Hedging Activities - Schedule of Gains (Losses) on Fair Value Hedges (Details)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Total loss on fair value hedges $ (18)
Unsecured consumer loans  
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Hedged item 253
Derivatives (278)
Interest settlement on derivative (535)
Total loss on fair value hedges (560)
Securities available for sale  
Derivative Instruments and Hedging Activities Disclosures [Line Items]  
Hedged item 1,859
Derivatives (1,933)
Interest settlement on derivative 616
Total loss on fair value hedges $ 542
v3.26.1
Derivative Instruments and Hedging Activities - Schedule of Cumulative Basis Adjustments for Fair Value Hedges (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Loans and leases held for investment    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Carrying Amount of Closed Portfolio   $ 1,283,622
Cumulative Fair Value Adjustment Included in the Carrying Amount of the Hedged Items $ 800 1,597
Hedged layer of loans with a carrying amount   575,000
Securities available for sale    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Carrying Amount of Closed Portfolio   1,091,921
Cumulative Fair Value Adjustment Included in the Carrying Amount of the Hedged Items   727
Hedged layer of loans with a carrying amount   $ 475,000
v3.26.1
Property, Equipment and Software, Net - Schedule of Property, Equipment and Software, Net (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Property, Plant and Equipment [Line Items]    
Total property, equipment and software $ 417,047 $ 383,443
Accumulated depreciation and amortization (143,575) (129,355)
Total property, equipment and software, net 273,472 254,088
Software    
Property, Plant and Equipment [Line Items]    
Total property, equipment and software 275,472 259,773
Software    
Property, Plant and Equipment [Line Items]    
Total property, equipment and software 36,500 28,300
Purchased software    
Property, Plant and Equipment [Line Items]    
Total property, equipment and software 6,700 6,800
Land, building and building improvements    
Property, Plant and Equipment [Line Items]    
Total property, equipment and software 95,932 81,601
Building improvements    
Property, Plant and Equipment [Line Items]    
Total property, equipment and software 22,000 7,700
Leasehold improvements    
Property, Plant and Equipment [Line Items]    
Total property, equipment and software 30,686 30,686
Computer equipment    
Property, Plant and Equipment [Line Items]    
Total property, equipment and software 7,498 5,829
Furniture and fixtures    
Property, Plant and Equipment [Line Items]    
Total property, equipment and software $ 7,459 $ 5,554
v3.26.1
Property, Equipment and Software, Net - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Property, Equipment and Software    
Property, Plant and Equipment [Line Items]    
Depreciation and amortization expense $ 15.1 $ 13.1
v3.26.1
Goodwill and Intangible Assets - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Dec. 31, 2025
Finite-Lived Intangible Assets [Line Items]      
Goodwill $ 75,717   $ 75,717
Goodwill impairment 0 $ 0  
Amortization expense 700 800  
Impairment of intangible assets $ 0 $ 0  
Minimum      
Finite-Lived Intangible Assets [Line Items]      
Intangible assets, amortized period 10 years    
Maximum      
Finite-Lived Intangible Assets [Line Items]      
Intangible assets, amortized period 14 years    
v3.26.1
Goodwill and Intangible Assets - Schedule of Gross and Net Carrying Values and Accumulated Amortization of Intangible Assets (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Finite-Lived Intangible Assets [Line Items]    
Net carrying value $ 6,677  
Customer Relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross carrying value 56,490 $ 56,490
Accumulated amortization (49,813) (49,071)
Net carrying value $ 6,677 $ 7,419
v3.26.1
Goodwill and Intangible Assets - Schedule of Expected Future Amortization Expense for Intangible Assets (Details)
$ in Thousands
Mar. 31, 2026
USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]  
2026 $ 1,894
2027 1,943
2028 1,179
2029 729
2030 456
Thereafter 476
Net carrying value $ 6,677
v3.26.1
Other Assets (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]    
Deferred tax assets, net $ 96,594 $ 96,159
Servicing assets 67,217 65,326
Nonmarketable equity investments 48,605 48,462
Accrued interest receivable 45,003 43,918
Operating lease assets 10,761 12,942
Intangible assets, net 6,677 7,419
Other 89,244 93,860
Total other assets 364,101 368,086
Principal balance of underlying loan servicing rights $ 7,800,000 $ 7,600,000
v3.26.1
Deposits - Schedule of Deposits (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Interest-bearing deposits:    
Savings and money market accounts $ 6,814,486 $ 6,599,737
Certificates of deposit 2,536,168 2,434,422
Checking accounts 430,914 425,324
Total 9,781,568 9,459,483
Noninterest-bearing deposits 407,943 374,387
Total deposits $ 10,189,511 $ 9,833,870
v3.26.1
Deposits - Schedule of Maturity of Certificates of Deposits (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Other Liabilities Disclosure [Abstract]    
2026 $ 2,150,055  
2027 367,690  
2028 6,159  
2029 10,376  
2030 1,249  
Thereafter 639  
Total certificates of deposit 2,536,168 $ 2,434,422
Uninsured certificates of deposit $ 129,400  
v3.26.1
Borrowings - Narrative (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Debt Disclosure [Abstract]    
Debt outstanding $ 0.0 $ 0.0
v3.26.1
Borrowings - Schedule of Available Borrowing Capacity and Related Pledged Collateral (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Debt Instrument [Line Items]    
Available Borrowing Capacity $ 3,684,391 $ 3,974,188
Assets Pledged As Collateral    
Debt Instrument [Line Items]    
Pledged Collateral 4,747,178 5,107,758
FRB Discount Window | Assets Pledged As Collateral    
Debt Instrument [Line Items]    
Pledged Collateral 3,882,429 4,245,845
FRB Discount Window | Assets Pledged As Collateral | Loans    
Debt Instrument [Line Items]    
Pledged Collateral   4,200,000
FHLB of Des Moines | Assets Pledged As Collateral    
Debt Instrument [Line Items]    
Pledged Collateral 864,749 861,913
FHLB of Des Moines | Assets Pledged As Collateral | Loans    
Debt Instrument [Line Items]    
Pledged Collateral   486,200
FHLB of Des Moines | Assets Pledged As Collateral | Securities    
Debt Instrument [Line Items]    
Pledged Collateral   375,700
FRB Discount Window    
Debt Instrument [Line Items]    
Available Borrowing Capacity 3,011,674 3,294,827
FRB Discount Window | FRB Discount Window | Assets Pledged As Collateral | Loans    
Debt Instrument [Line Items]    
Pledged Collateral 3,900,000  
FHLB of Des Moines    
Debt Instrument [Line Items]    
Available Borrowing Capacity 672,717 $ 679,361
FHLB of Des Moines | FHLB of Des Moines | Assets Pledged As Collateral | Loans    
Debt Instrument [Line Items]    
Pledged Collateral 501,100  
FHLB of Des Moines | FHLB of Des Moines | Assets Pledged As Collateral | Securities    
Debt Instrument [Line Items]    
Pledged Collateral $ 363,700  
v3.26.1
Other Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Other Liabilities [Abstract]    
Accounts payable and accrued expenses $ 83,043 $ 87,341
Due to borrowers 47,258 60,254
Payable to investors 19,029 11,926
Operating lease liabilities 12,481 15,826
Other 64,989 58,171
Total other liabilities $ 226,800 $ 233,518
v3.26.1
Equity - Narrative (Details) - USD ($)
$ / shares in Units, $ in Millions
 3 Months Ended
Mar. 31, 2026
Nov. 04, 2025
Stock Repurchase and Acquisition Program    
Stock options    
Stock acquisition and repurchase program, authorized amount   $ 100.0
Stock repurchases (in shares) 746,807  
Weighted average purchase price (in USD per share) $ 16.86  
RSUs    
Stock options    
Granted (in shares) 1,646,297  
Equity instruments other than options, aggregate fair value $ 24.9  
Unrecognized compensation cost related to unvested awards $ 52.6  
Unrecognized compensation cost, period for recognition 2 years  
PBRSUs    
Stock options    
Granted (in shares) 641,982  
Equity instruments other than options, aggregate fair value $ 9.3  
Unrecognized compensation cost related to unvested awards $ 11.7  
Unrecognized compensation cost, period for recognition 2 years  
Performance period 3 years  
v3.26.1
Equity - Schedule of Stock-Based Compensation Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Stock options    
Stock-based compensation expense, gross $ 8,534 $ 9,921
Less: Capitalized stock-based compensation expense 960 1,402
Stock-based compensation expense, net 7,574 8,519
RSUs    
Stock options    
Stock-based compensation expense, gross 7,529 9,074
PBRSUs    
Stock options    
Stock-based compensation expense, gross $ 1,005 $ 847
v3.26.1
Equity - Schedule of RSU Activity and PBRSU Activity (Details)
 3 Months Ended
Mar. 31, 2026
$ / shares
shares
RSUs  
Number of Units  
Unvested, beginning (in shares) | shares 4,278,687
Granted (in shares) | shares 1,646,297
Vested (in shares) | shares (1,221,551)
Forfeited (in shares) | shares (141,344)
Unvested, ending (in shares) | shares 4,562,089
Weighted- Average Grant Date Fair Value  
Unvested, beginning (in USD per share) | $ / shares $ 10.73
Granted (in USD per share) | $ / shares 15.14
Vested (in USD per share) | $ / shares 8.86
Forfeited (in USD per share) | $ / shares 11.06
Unvested, ending (in USD per share) | $ / shares $ 12.81
PBRSUs  
Number of Units  
Unvested, beginning (in shares) | shares 1,160,819
Granted (in shares) | shares 641,982
Vested (in shares) | shares (485,134)
Unvested, ending (in shares) | shares 1,317,667
Weighted- Average Grant Date Fair Value  
Unvested, beginning (in USD per share) | $ / shares $ 8.86
Granted (in USD per share) | $ / shares 14.72
Vested (in USD per share) | $ / shares 7.62
Unvested, ending (in USD per share) | $ / shares $ 12.17
v3.26.1
Income Taxes - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Income Tax Disclosure [Abstract]    
Income tax expense $ 15,725 $ 4,024
Effective tax rate 23.40% 25.60%
v3.26.1
Income Taxes - Schedule of Deferred Tax Assets (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Income Tax Disclosure [Abstract]    
Deferred tax assets, net of liabilities $ 144,641 $ 144,206
Valuation allowance (48,047) (48,047)
Deferred tax assets, net of valuation allowance $ 96,594 $ 96,159
v3.26.1
Leases - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Lessee, Lease, Description [Line Items]    
Net lease costs $ 2.8 $ 2.7
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  
v3.26.1
Leases - Schedule of Balance Sheet Information Related to Leases (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Leases [Abstract]    
Operating lease assets $ 10,761 $ 12,942
Operating lease liabilities $ 12,481 $ 15,826
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
v3.26.1
Leases - Schedule of Future Minimum Undiscounted Lease Payments Under Operating Leases (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Leases [Abstract]    
2026 $ 4,469  
2027 5,010  
2028 4,046  
2029 909  
Total lease payments 14,434  
Discount effect (1,953)  
Present value of future minimum lease payments $ 12,481 $ 15,826
v3.26.1
Leases - Schedule of Weighted-Average Remaining Lease Term and Discount Rate (Details)
Mar. 31, 2026
Dec. 31, 2025
Leases [Abstract]    
Weighted-average remaining lease term (in years) 2 years 9 months 10 days 2 years 7 months 20 days
Weighted-average discount rate 4.39% 4.56%
v3.26.1
Leases - Schedule of Rental Income (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Leases [Abstract]    
Rental income $ 1,992 $ 0
v3.26.1
Leases - Schedule of Future Fixed Lease Payments Based on Maturity (Details)
$ in Thousands
Mar. 31, 2026
USD ($)
Leases [Abstract]  
2026 $ 3,302
2027 3,356
2028 2,460
2029 1,932
2030 1,990
Thereafter 6,215
Total lease payments $ 19,255
v3.26.1
Leases - Schedule of Interest Earned on Equipment Finance (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Leases [Abstract]    
Interest earned $ 520 $ 847
v3.26.1
Leases - Schedule of Components of Equipment Finance Assets (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Leases [Abstract]    
Lease receivables $ 21,352 $ 25,384
Unguaranteed residual asset values 18,238 17,907
Unearned income (3,273) (3,690)
Deferred costs 130 156
Total $ 36,447 $ 39,757
v3.26.1
Leases - Schedule of Future Minimum Lease Payments Based on Maturity for Sales-Type Leases (Details)
$ in Thousands
Mar. 31, 2026
USD ($)
Leases [Abstract]  
2026 $ 9,399
2027 7,479
2028 3,715
2029 1,434
Total lease payments 22,027
Discount effect (675)
Present value of future minimum lease payments $ 21,352
v3.26.1
Commitments and Contingencies (Details) - USD ($)
$ in Millions
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Loss Contingencies [Line Items]      
Unfunded loan commitments $ 91.1 $ 98.2  
Unfunded Loan Commitment, Commitments To Extend Credit      
Loss Contingencies [Line Items]      
Unfunded loan commitments $ 44.1 $ 52.0 $ 96.3
v3.26.1
Regulatory Requirements - Schedule of Regulatory Capital Amounts and Ratios (Details)
$ in Millions
Mar. 31, 2026
USD ($)
Dec. 31, 2025
USD ($)
LendingClub Corporation:    
Amount    
CET1 capital $ 1,376.8 $ 1,342.6
Tier 1 capital 1,376.8 1,342.6
Total capital 1,479.7 1,441.0
Tier 1 leverage 1,376.8 1,342.6
Risk-weighted assets 8,093.4 7,696.1
Quarterly adjusted average assets $ 11,523.0 $ 11,174.0
Ratio    
CET1 capital 0.170 0.174
Tier 1 capital 0.170 0.174
Total capital 0.183 0.187
Tier 1 leverage 0.119 0.120
Well-Capitalized Minimum    
Tier 1 capital 0.060  
Total capital 0.100  
LendingClub Bank:    
Amount    
CET1 capital $ 1,246.2 $ 1,183.9
Tier 1 capital 1,246.2 1,183.9
Total capital 1,348.5 1,281.8
Tier 1 leverage 1,246.2 1,183.9
Risk-weighted assets 8,050.2 7,652.0
Quarterly adjusted average assets $ 11,448.5 $ 11,090.4
Ratio    
CET1 capital 0.155 0.155
Tier 1 capital 0.155 0.155
Total capital 0.168 0.168
Tier 1 leverage 0.109 0.107
Well-Capitalized Minimum    
CET1 capital 0.065  
Tier 1 capital 0.080  
Total capital 0.100  
Tier 1 leverage 0.050  
v3.26.1
Regulatory Requirements - Narrative (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2025
USD ($)
LendingClub Bank  
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]  
Cash dividends paid $ 50
v3.26.1
Segment Reporting - Narratives (Details)
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Number of reportable segments not disclosed Reportable Segments
v3.26.1
Segment Reporting - Schedule of Segment Reporting Information by Statements of Operations (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Interest income:    
Interest income $ 261,207 $ 232,059
Interest expense (84,973) (82,102)
Net interest income 176,234 149,957
Non-interest income:    
Gain on sales of loans [1] 16,269 12,202
Net fair value adjustments [1] (88,925) (29,251)
Other non-interest income 5,472 2,111
Total non-interest income 76,017 67,754
Total net revenue 252,251 217,711
Provision for credit losses (390) (58,149)
Non-interest expense:    
Compensation and benefits (65,514) (58,389)
Marketing (55,415) (29,239)
Equipment and software (15,293) (14,644)
Depreciation and amortization (15,819) (13,909)
Professional services (11,767) (9,764)
Occupancy (6,391) (4,345)
Other non-interest expense (14,334) (13,577)
Total non-interest expense (184,533) (143,867)
Income tax benefit (expense) (15,725) (4,024)
Net income 51,603 11,671
Origination fees    
Non-interest income:    
Fees [1] 130,088 69,944
Servicing fees    
Non-interest income:    
Fees [1] 13,113 12,748
Operating Segments    
Interest income:    
Interest income 261,207 232,059
Interest expense (84,973) (82,102)
Net interest income 176,234 149,957
Non-interest income:    
Gain on sales of loans 16,269 12,202
Net fair value adjustments (88,925) (29,251)
Other non-interest income 13,258 14,932
Total non-interest income 81,023 72,937
Total net revenue 257,257 222,894
Provision for credit losses (390) (58,149)
Non-interest expense:    
Compensation and benefits (65,514) (58,389)
Marketing (55,415) (29,239)
Equipment and software (15,293) (14,644)
Depreciation and amortization (15,819) (13,909)
Professional services (11,767) (9,764)
Occupancy (6,391) (4,345)
Other non-interest expense (19,340) (18,760)
Total non-interest expense (189,539) (149,050)
Income tax benefit (expense) (15,725) (4,024)
Net income 51,603 11,671
Capital expenditures 25,784 13,066
Operating Segments | LendingClub Bank    
Interest income:    
Interest income 260,945 231,755
Interest expense (84,973) (82,102)
Net interest income 175,972 149,653
Non-interest income:    
Gain on sales of loans 16,269 12,202
Net fair value adjustments (89,666) (30,123)
Other non-interest income 11,130 12,941
Total non-interest income 73,063 65,151
Total net revenue 249,035 214,804
Provision for credit losses (390) (58,149)
Non-interest expense:    
Compensation and benefits (64,095) (56,863)
Marketing (55,415) (29,239)
Equipment and software (15,293) (14,619)
Depreciation and amortization (14,992) (12,543)
Professional services (11,687) (9,637)
Occupancy (3,971) (2,401)
Other non-interest expense (17,296) (14,447)
Total non-interest expense (182,749) (139,749)
Income tax benefit (expense) (14,895) (4,872)
Net income 51,001 12,034
Capital expenditures 25,784 13,066
Operating Segments | LendingClub Corporation (Parent only)    
Interest income:    
Interest income 262 304
Interest expense 0 0
Net interest income 262 304
Non-interest income:    
Gain on sales of loans 0 0
Net fair value adjustments 741 872
Other non-interest income 2,128 1,991
Total non-interest income 7,960 7,786
Total net revenue 8,222 8,090
Provision for credit losses 0 0
Non-interest expense:    
Compensation and benefits (1,419) (1,526)
Marketing 0 0
Equipment and software 0 (25)
Depreciation and amortization (827) (1,366)
Professional services (80) (127)
Occupancy (2,420) (1,944)
Other non-interest expense (2,044) (4,313)
Total non-interest expense (6,790) (9,301)
Income tax benefit (expense) (830) 848
Net income 602 (363)
Capital expenditures 0 0
Operating Segments | Origination fees    
Non-interest income:    
Fees 130,088 69,944
Operating Segments | Origination fees | LendingClub Bank    
Non-interest income:    
Fees 129,988 69,933
Operating Segments | Origination fees | LendingClub Corporation (Parent only)    
Non-interest income:    
Fees 100 11
Operating Segments | Servicing fees    
Non-interest income:    
Fees 10,333 5,110
Operating Segments | Servicing fees | LendingClub Bank    
Non-interest income:    
Fees 5,342 198
Operating Segments | Servicing fees | LendingClub Corporation (Parent only)    
Non-interest income:    
Fees 4,991 4,912
Intercompany Eliminations    
Non-interest income:    
Total net revenue $ (5,006) $ (5,183)
[1] Prior period amounts have been reclassified to conform to the current period presentation. See “Note 1. Summary of Significant Accounting Policies” for additional information.
v3.26.1
Segment Reporting - Schedule of Segment Reporting Information by Balance Sheet (Details) - USD ($)
$ in Thousands
Mar. 31, 2026
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2024
Assets        
Total cash and cash equivalents $ 801,943 $ 917,654 $ 895,515  
Restricted cash 19,919 12,783 24,732  
Total securities available for sale 3,867,576 3,706,709    
Loans held for investment at fair value 1,237,850 473,314    
Loans and leases held for investment at amortized cost, net 3,463,140 3,997,069    
Property, equipment and software, net 273,472 254,088    
Goodwill 75,717 75,717    
Other assets 364,101 368,086    
Total assets 11,939,839 11,567,816    
Liabilities and Equity        
Total deposits 10,189,511 9,833,870    
Other liabilities 226,800 233,518    
Total liabilities 10,416,311 10,067,388    
Total equity 1,523,528 1,500,428 $ 1,364,517 $ 1,341,731
Total liabilities and equity 11,939,839 11,567,816    
Operating Segments        
Assets        
Total cash and cash equivalents 889,363 1,028,333    
Restricted cash 25,589 16,659    
Total securities available for sale 3,867,576 3,706,709    
Loans held for sale at fair value 1,836,121 1,762,396    
Loans held for investment at fair value 1,237,850 473,314    
Loans and leases held for investment at amortized cost, net 3,463,140 3,997,069    
Property, equipment and software, net 273,472 254,088    
Investment in subsidiary 919,364 903,339    
Goodwill 75,717 75,717    
Other assets 361,228 388,811    
Total assets 12,949,420 12,606,435    
Liabilities and Equity        
Total deposits 10,282,601 9,948,426    
Other liabilities 223,927 254,243    
Total liabilities 10,506,528 10,202,669    
Total equity 2,442,892 2,403,766    
Total liabilities and equity 12,949,420 12,606,435    
Operating Segments | LendingClub Bank        
Assets        
Total cash and cash equivalents 782,503 901,246    
Restricted cash 0 0    
Total securities available for sale 3,857,338 3,696,626    
Loans held for sale at fair value 1,836,121 1,762,396    
Loans held for investment at fair value 1,237,093 472,301    
Loans and leases held for investment at amortized cost, net 3,463,140 3,997,069    
Property, equipment and software, net 270,122 250,168    
Investment in subsidiary 0 0    
Goodwill 75,717 75,717    
Other assets 323,674 316,488    
Total assets 11,845,708 11,472,011    
Liabilities and Equity        
Total deposits 10,282,601 9,948,426    
Other liabilities 200,976 217,930    
Total liabilities 10,483,577 10,166,356    
Total equity 1,362,131 1,305,655    
Total liabilities and equity 11,845,708 11,472,011    
Operating Segments | LendingClub Corporation (Parent only)        
Assets        
Total cash and cash equivalents 106,860 127,087    
Restricted cash 25,589 16,659    
Total securities available for sale 10,238 10,083    
Loans held for sale at fair value 0 0    
Loans held for investment at fair value 757 1,013    
Loans and leases held for investment at amortized cost, net 0 0    
Property, equipment and software, net 3,350 3,920    
Investment in subsidiary 919,364 903,339    
Goodwill 0 0    
Other assets 37,554 72,323    
Total assets 1,103,712 1,134,424    
Liabilities and Equity        
Total deposits 0 0    
Other liabilities 22,951 36,313    
Total liabilities 22,951 36,313    
Total equity 1,080,761 1,098,111    
Total liabilities and equity 1,103,712 1,134,424    
Intercompany Eliminations        
Assets        
Total assets (1,009,581) (1,038,619)    
Liabilities and Equity        
Total liabilities (90,217) (135,281)    
Total equity $ (919,364) $ (903,338)