LendingClub (NYSE: LC) has announced that the firm’s Board of Directors has approved a program to repurchase and acquire “up to $100 million” of the company’s common stock through Dec 31, 2026.
LendingClub shares are trading near their 52-week high with a market cap of over $2 billion. The company went public at the end of 2014 at a valuation of around $9 billion. At the time, the event was deemed to be a watershed moment for the Fintech sector.
LendingClub transitioned from a marketplace lending platform to a digital bank several years ago, gaining a federal bank charter. While LendingClub is a pure-play digital bank, online lending is a key part of its operations.
Scott Sanborn, Chief Executive Officer of LendingClub, said that the firm has transformed its business and financial profile since “becoming a bank holding company in 2021 and delivering record pre-tax net income in the third quarter of 2025.”
Sanborn added that this stock repurchase and acquisition program reflects the strength of their balance sheet, “confidence in their long-term earnings power, and a disciplined approach to capital allocation.”
He also stated that, given their outlook and growth opportunities ahead, they view this program as a kind of “prudent and value-enhancing measure for shareholders.”
As stated in the update, the timing and volume of shares “acquired via the stock repurchase and acquisition program (whether through open market purchases of LendingClub common stock or the hold back of vesting restricted stock units) are discretionary and will depend on LendingClub’s stock price, business and market conditions, and other factors.”
As mentioned in the announcement, LendingClub says it is reimagining what a bank can be by “building our business around a simple belief: when our members win, we win.”
Leveraging technology and engaging mobile-first experiences, their suite of financial products helps people “keep more of what they earn and earn more on what they save.”
Their members acknowledge their ability when it comes to providing access to affordable credit and incentivizing their smart financial choices, “like making on-time payments, saving regularly, and taking control of debt.”
LendingClub Corporation also announced its expansion into the home improvement financing market, which is said to be “a natural fit as the bank seeks to help consumers borrow smarter.”
As part of its expansion, LendingClub is working with Wisetack, a platform for home improvement financing that has relationships with “across contractors, service platforms, and aggregators.”
The collab is set to support LendingClub’s market entry by leveraging Wisetack’s network of contractor merchants and embedded SaaS partnerships in the home improvement sector.
LendingClub seeks to leverage Wisetack’s platform to “offer consumers real-time approvals, transparent terms, and affordable payments – all designed to make home upgrades more accessible.”
Contractors and installers will benefit from “higher close-rates, fewer cancellations, and API-based payout.”
Initially, LendingClub intends to begin “purchasing participation certificates in early 2026 from Wisetack’s forward flow loan production.”
In mid-2026, LendingClub expects to begin using its underwriting model to originate “larger-sized home improvement financing loans not currently available on Wisetack’s platform.”
LendingClub‘s market entry is supported by the acquisition of core lending technology and select talent from Mosaic, “a former fintech lender with a high-performing platform built for contractor-based lending.”
The combination of consumer demand, merchant adoption, underwriting, and efficient delivery and servicing gives LendingClub a “clear path towards sustained growth in 2026 and beyond.”
