Item 8.01 Other Events
On March 10, 2023, Silicon Valley Bank ("SVB") was put under control of the
Federal Deposit Insurance Corporation (the "FDIC"). LendingClub Corporation (the
"Company") is a bank holding company with $8 billion of total assets as of
February 28, 2023. LendingClub's relationship with SVB is limited to funds on
deposit of $21 million, which amount is not material to the Company's liquidity
position or capital levels, and does not pose a risk to the Company's ongoing
business or operations. The recovery of the funds will be subject to the FDIC
process.
Safe Harbor Statement
Some of the statements above, including statements regarding the process for
recovering funds on deposit with SVB, are "forward-looking statements." The
words "anticipate," "believe," "estimate," "expect," "intend," "may," "outlook,"
"plan," "predict," "project," "will," "would" and similar expressions may
identify forward-looking statements, although not all forward-looking statements
contain these identifying words. Factors that could cause actual results to
differ materially from those contemplated by these forward-looking statements
include: our ability to recover the funds on deposit with SVB through the FDIC
process and those factors set forth in the section titled "Risk Factors" in our
most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, each
as filed with the Securities and Exchange Commission, as well as in our
subsequent filings with the Securities and Exchange Commission. We may not
actually achieve the plans, intentions or expectations disclosed in
forward-looking statements, and you should not place undue reliance on
forward-looking statements. Actual results or events could differ materially
from the plans, intentions and expectations disclosed in forward-looking
statements. We do not assume any obligation to update any forward-looking
statements, whether as a result of new information, future events or otherwise,
except as required by law.
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LENDINGCLUB CORPORATION 
