Happen (HAPN), formerly LendingClub, reported second-quarter 2026 net income of $58.1 million, up 52% from $38.2 million a year earlier. Total net revenue rose 6% year over year to $262.9 million, and diluted EPS increased to $0.50 from $0.33.
The digital bank also reported $3.1 billion in originations, record pre-tax income of $75.7 million and a 15.1% return on equity. The company said it rebranded to Happen Bank and transferred its stock listing from NYSE LC to Nasdaq HAPN during the quarter.
- Total assets were $12.5 billion, up 16% year over year.
- Deposits were $10.8 billion, up 18% year over year, with 88% FDIC-insured.
- Provision benefit was $10.9 million, compared with a $39.7 million expense a year earlier.
- Net charge-offs on total loans and leases held for investment improved to $40.6 million from $46.1 million.
- Third-quarter 2026 outlook calls for loan originations of $3.20 billion to $3.35 billion and diluted EPS of $0.43 to $0.48.
- Full-year 2026 outlook calls for loan originations of $12.2 billion to $12.6 billion and diluted EPS of $1.80 to $1.90.
