# Happen Inc. (formerly LendingClub) (HAPN)
fintech-bank · prime · live · latest quarter 2026-06-30 · reporting basis prime

**Score 2** (weighted flags). Digital marketplace bank, formerly LendingClub, renamed Happen Inc. in June 2026. Originates prime personal loans, holds part of them, and sells the rest.

## Latest quarter, from the company's own XBRL

| Measure | Value |
|---|---|
| Book total (prime) | $3.19B |
| Allowance | $192.9M (6.05% of gross) |
| Provision | $-10.9M |
| Net charge-offs | $12.5M (1.45% annualized) |
| Provision / NCO | -0.87 |
| Reserve, quarters of losses | 15.4 |
| 30+ / 60+ / 90+ | – / – / – |
| Nonaccrual | 1.74% |
| Yield | – |
| Equity / assets | 12.49% |
| Book growth YoY | -27.4% |

Delinquency note: The tagged book is loans held for investment at amortized cost. The larger held-for-sale and fair-value slice sits outside it. LendingClub's recovery element stopped in 2023, so net charge-offs here come straight from the filer's net write-off element rather than from gross write-offs less recoveries. Interest income is tagged for the whole balance sheet, so no yield is shown against the held-for-investment book. Deposit funded; no debt element resolves.

## Flags

- **Provision below net charge-offs for consecutive quarters** (`reserve_bleed`)

## Reads on the desk

- HIGH: Reserve bleed: provision has run below net charge-offs for 2 consecutive quarters (latest 2026-06-30, provision $-10.9M against $12.5M of net charge-offs). The allowance is absorbing losses it is not being refilled for. Threshold: two consecutive quarters.

## In the news

- 2026-06-23 [How Investors May Respond To Happen (HAPN) Unifying Its Brand Around a Digital-First Bank Launch - Yahoo Finance](https://news.google.com/rss/articles/CBMinwFBVV95cUxPcC1XYUVNUTFheWtONHVaZ2o4cHN0UVZiQnJ2Sjd5dE9YUVRPSFZWeFZrZTByNjB6OXBQSUpjTTI1N1k4NUxBd2VnV0ZQR1dDSGk4RndURE5jd0E1N3p0bG44MWtSUGNRb2FnTG9lT3hMMnlCWFBRbTltSnVuenJQVFlITnRrYXNnVkdjUlRMRHlIQmdENUZzekg1cDJVcFU?oc=5) · Yahoo Finance
- 2026-06-22 [Happen, Inc. (Nasdaq: HAPN) debuts Happen Bank brand and Nasdaq listing - stocktitan.net](https://news.google.com/rss/articles/CBMipwFBVV95cUxNYU9tRC1SR2lrRFlrOW8zVmdtVHhSWU55VDdaZ1RiQkdaWWd5MEIweXI0bzV2OENFNzVzWGJLTjFhSUoxQjBpV2Q4YTFHbTFFTy1KeEs5dGhlN0wwNk1WcDVMZ1MyaXdMZkhFU254dmpHU3NSUXNJTUV3VnRlTVNpOXBiOEcyZEh0NmJVemp1WHJEM2o4VE9oWEVNRDdjcnhkUXp4cUN3SQ?oc=5) · stocktitan.net
- 2026-06-24 [Happen, Inc. Stock (HAPN) - Quote Nasdaq - marketscreener.com](https://news.google.com/rss/articles/CBMicEFVX3lxTE5iR01hSUViR0d6b2FBSjVld05EbUxSVDNWSTN2NUcxWmkwSG1UV2ZjVDNkSl9OR1p5NGZ6cWJtb2hOMFJkYUxhcmR6VE5GNzVmVXZHZS1ES2lKRVhkUzkyd2pRM3BQd0FhRi10aUZrckc?oc=5) · marketscreener.com
- 2026-06-22 [LendingClub Rebrands as Happen, Shifts to Nasdaq - TipRanks](https://news.google.com/rss/articles/CBMioAFBVV95cUxPVnF1SW1nODNBSHVReG51d2plR2k5WjNkZE9NS1ZRZUdHdXJ6a1dPQ2xEdWxQSWhJZXNXQ2dTRzQ5Z05rY09NNWR5LWpWR3VUV2F2QnlIN0ZzMHhFdlpCVmJCUVFwd3Bob1RvVWxGWHFtd0xIRWJaNjBVQ3FIbko1UlBZQkcwNlMyNGotQTNhUlNPOXJCcEhKdXNzdVVTcTNC?oc=5) · TipRanks

## How to verify

- Page: https://getbookiq.com/intel/#co=HAPN
- Data: https://getbookiq.com/intel/data/pubco.json (companies[].hist, columns q, receivables_gross, receivables_net, receivables_fv, book_total, allowance, provision, writeoffs, recoveries, nco, revenue, interest_income, nonaccrual, assets, equity, debt, alw_ratio, nco_rate, yield, prov_nco, nonacc_ratio, equity_ratio, leverage, reserve_qtrs, growth_yoy, alw_chg_yoy, nco_chg_yoy, nonacc_chg_yoy, yield_chg_yoy, eq_chg_yoy, dq30, dq60, dq90, dq_total, dq30_r, dq60_r, dq90_r, dq_total_r, dq90_chg_yoy, dqtot_chg_yoy, score)
- Definitions: https://getbookiq.com/dictionary/#auto-prov_nco
- Source: SEC XBRL company facts. Blank means the filer does not tag that concept, never zero. Peer comparison is within a business model or tier only.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide