Comparing LendingClub (NYSE:LC) and Lendingclub (NASDAQ:HAPN)
Head-To-Head Survey: LendingClub (NYSE:LC) versus Jiayin Group (NASDAQ:JFIN)
LC: 10-Q · periodic report
Happen, Inc. reported total net revenue of $262.9 million for the second quarter of 2026, a 6% increase from the prior year, while net income surged 52% to $58.1 million. Diluted earnings per share rose to $0.50 from $0.33 in the same period last year, reflecting improved operational performance and growth in interest-earning assets. The financial results were bolstered by a $10.9 million benefit from the provision for credit losses, compared to a $39.7 million expense in the prior year period. The company also repurchased approximately 1.2 million shares of common stock during the first half of 2026 at an average price of $16.68 per share. On June 22, 2026, the company officially changed its corporate name from LendingClub Corporation to Happen, Inc. and renamed its wholly-owned banking subsidiary to Happen Bank, National Association. The filing further details the adoption of the fair value option for held for investment loans originated on or after January 1, 2026.
LendingClub Q2 Earnings Call Highlights
LC: 8-K · earnings release
Happen reported record second quarter 2026 financial results, achieving pre-tax income of $75.7 million and diluted EPS of $0.50, representing a 52% increase year-over-year. Total net revenue grew 6% to $262.9 million, supported by a 29% rise in loan originations to $3.1 billion and a net interest margin of 6.14%. The company successfully completed its rebrand to Happen Bank and transferred its stock listing from the NYSE to the Nasdaq under the symbol HAPN. Operational highlights included the launch of home improvement financing and a record automation rate exceeding 90%, driven by AI initiatives. Management raised its full year 2026 guidance, projecting diluted EPS between $1.80 and $1.90 on loan originations of $12.2 billion to $12.6 billion. The company also executed $12 million in share repurchases during the quarter, bringing total utilization to $50 million under its authorization.
LC: 8-K · ticker change
Happen, Inc., formerly known as LendingClub Corporation, has officially changed its corporate name and trading symbol. The company transferred its listing from the New York Stock Exchange to the Nasdaq Global Select Market, effective June 22, 2026, and will now trade under the ticker symbol HAPN. In connection with the rebranding, the company's wholly-owned banking subsidiary changed its name from LendingClub Bank to Happen Bank, National Association. CEO Scott Sanborn stated the shift marks a new chapter, emphasizing the digital bank's focus on helping consumers make progress with their money through products like LevelUp Checking and LevelUp Savings. The company noted that while the name and visual identity have changed, the foundational business remains the same FDIC-insured digital bank serving millions of members. Happen plans to celebrate the launch by ringing the Nasdaq Opening Bell on June 30, 2026.
LC: 8-K · proxy statement
LendingClub Corporation held its annual meeting of stockholders on June 2, 2026, with 79.66% of outstanding shares represented. All three Class III director nominees—Kathryn Reimann, Scott Sanborn, and Michael Zeisser—were elected to serve until the 2029 annual meeting. Stockholders approved the advisory vote on executive compensation and ratified the appointment of Deloitte & Touche LLP as the independent auditor for fiscal year 2026. Additionally, shareholders approved two management proposals to amend the Certificate of Incorporation: phasing in the declassification of the Board of Directors and removing supermajority voting requirements for amending governing documents. Both governance proposals passed with over 97% support, exceeding the two-thirds threshold required.
LendingClub to Transfer Listing to Nasdaq; New Ticker Symbol "HAPN" to Reflect the Launch of Happen Bank
LendingClub will transfer its listing from the NYSE to the Nasdaq Global Select Market, effective June 22, 2026. The company will simultaneously change its ticker symbol from LC to HAPN to reflect the rebranding of LendingClub Bank to Happen Bank. CEO Scott Sanborn stated the move aligns the company with investors focused on technology-driven innovation, positioning it as a diversified digital-first bank.
LendingClub Launches Home Improvement Financing; Begins Underwriting and Originating Loans Through Inaugural Partnership with Wisetack
LendingClub has launched a home improvement financing product, originating loans up to $65,000 through a new partnership with embedded finance platform Wisetack. The move leverages LendingClub's bank balance sheet and proprietary credit models to access an estimated $500 billion annual market of home improvement spending. LendingClub also made an investment in Wisetack to support the partnership, which gives it access to over 40,000 contractors.
LendingClub Reports First Quarter 2026 Results
LendingClub delivered record Q1 results with pre-tax income of $67.3 million and diluted EPS of $0.44, more than quadrupling from the prior year. Originations grew 31% year-over-year to $2.7 billion, driven by successful product and marketing initiatives and a new entry into home improvement loans. The company raised full-year 2026 EPS guidance to $1.65-$1.80 and announced a corporate rebrand to Happen Bank launching this summer.
LendingClub to Become Happen Bank, a Digital Bank for People Going Places
LendingClub announced it will rebrand its banking subsidiary to Happen Bank in summer 2026, reflecting its transition from an online lender to a digital-first bank. The company stated that while the name and visual identity will change to align with its expanded banking capabilities, there is no change to its underlying products, services, or strategy. CEO Scott Sanborn noted that the new name better represents the firm's current offerings and its mission to help goal-oriented consumers achieve financial progress.
