Mergers & AcquisitionsBy The Online Investor Staff, updated Thu., Feb. 27, 3:18 PM
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Slide #43. LendingClub Corporation — Radius Bancorp
LendingClub Corporation (NYSE:LC)
LendingClub Corporation (NYSE:LC), America's largest online lending marketplace connecting borrowers and investors, today announced that it has signed a definitive agreement to acquire Radius Bancorp, and its wholly owned subsidiary Radius Bank, (together "Radius") recently voted the nation's best online bank1 in a cash and stock transaction valued at $185 million. Combining Radius and LendingClub will create a digitally native marketplace bank at scale with the power to deliver an integrated customer experience, enabling consumers to both pay less when borrowing and earn more when saving.
LendingClub is an online lending marketplace connecting borrowers and investors. Co.'s subsidiary, LC Trust I (the Trust), acquires loans from Co. and holds them for the sole benefit of certain investors that have purchased trust certificates issued by the Trust that are related to underlying loans for the benefit of the investor. Co.'s subsidiary, Springstone Financial LLC, facilitates the origination of education and patient finance loans by third-party issuing banks. Also, Co.'s subsidiary, LendingClub Asset Management LLC, acts as the general partner for private funds. Co.'s lending marketplace facilitates Personal Loans, Auto Refinancing Loans, and Small Business Loans, among other.
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Buy (3.33 out of 4)
(ranked higher than approx. 56% of all stocks covered)
Based on Zacks ABR data;
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