Why LendingClub’s Acquisition Of Radius Bank Is A Smart Deal [Forbes]
LendingClub Corporation (LC)
Last lendingclub corporation earnings: 2/18 04:06 pm
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Source: Forbes
OBSERVATIONS FROM THE FINTECH SNARK TANK LendingClub, one of the nation’s first peer-to-peer lenders (oops! I mean, “marketplace” lenders—real ”peer to peer” lending lasted all of about a month), announced it plans to acquire Radius Bank, a relatively small Boston-based bank, unknown to most people outside of the industry (and within, for that matter). The press release announcing the pending deal contained the usual platitudes from the acquiring CEO: “This is a transformational transaction that allows us to reimagine banking in a way that is free from legacy practices and systems. We will create a category-defining experience for our members that will dramatically enhance the resilience and earnings trajectory of our business.” Despite the buzzword-laden proclamation, this acquisition makes a lot of sense for both parties for reasons that go beyond what many observers have reported on. The Short-Term Benefits Aren’t About Much of the discussion about the deal has focused on the obvio
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News
- Peer-to-Peer Lending Market Surges to US$ 1709.6 Billion by 2034, Driven by Growing Demand and Reduced Operating Costs | Future Market Insights, Inc. [Yahoo! Finance]Yahoo! Finance
- 4 Warning Signs You're Not Prepared for Unexpected Medical Expenses [Yahoo! Finance]Yahoo! Finance
- This couple makes $139K/year yet they're drowning in debt and can barely make ends meet. Ramit Sethi weighs in [Yahoo! Finance]Yahoo! Finance
- LendingClub Schedules First Quarter 2024 Earnings Release and Conference Call [Yahoo! Finance]Yahoo! Finance
- LendingClub Schedules First Quarter 2024 Earnings Release and Conference CallPR Newswire
LC
Earnings
- 1/30/24 - Beat
LC
Sec Filings
- 4/11/24 - Form PRE
- 3/25/24 - Form 4
- 3/25/24 - Form 4
- LC's page on the SEC website