LendingClub

Strategic and financial benefits of the Acquisition include:

• Increased and more stable revenue driven by the addition of net interest income from loans held for investment, complementing existing marketplace revenue streams;
• Increased opportunity to attract new members and deepen relationships with existing members through the addition of new digital banking products and services that leverage LendingClub’s marketing and brand strengths;
• Increased resiliency with access to stable, low-cost deposit funding replacing higher-cost and more volatile third-party warehouse funding; and
• Expense benefits by capturing the fees that were historically paid to third-party issuing banks.