Condensed Consolidated Statements of Income - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||
|---|---|---|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2025 |
Jun. 30, 2024 |
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| Non-interest income: | ||||||
| Marketplace revenue | $ 89,644 | $ 56,353 | $ 155,287 | $ 112,244 | ||
| Other non-interest income | 4,542 | 2,360 | 6,653 | 4,269 | ||
| Total non-interest income | 94,186 | 58,713 | 161,940 | 116,513 | ||
| Interest income: | ||||||
| Interest on loans held for sale | 32,489 | 26,721 | 54,303 | 41,420 | ||
| Interest and fees on loans and leases held for investment | 122,395 | 124,819 | 241,344 | 257,212 | ||
| Interest on loans held for investment at fair value | 19,761 | 12,047 | 45,171 | 20,456 | ||
| Interest on securities available for sale | 55,339 | 42,879 | 111,619 | 78,226 | ||
| Other interest income | 7,113 | 13,168 | 16,719 | 29,671 | ||
| Total interest income | 237,097 | 219,634 | 469,156 | 426,985 | ||
| Interest expense: | ||||||
| Interest on deposits | 82,845 | 90,193 | 164,945 | 174,156 | ||
| Other interest expense | 3 | 913 | 5 | 1,413 | ||
| Total interest expense | 82,848 | 91,106 | 164,950 | 175,569 | ||
| Net interest income | 154,249 | 128,528 | 304,206 | 251,416 | ||
| Total net revenue | 248,435 | 187,241 | 466,146 | 367,929 | ||
| Provision for credit losses | 39,733 | 35,561 | 97,882 | 67,488 | ||
| Non-interest expense: | ||||||
| Compensation and benefits | 61,989 | 56,540 | 120,378 | 116,094 | ||
| Marketing | 33,580 | 26,665 | 62,819 | 50,801 | ||
| Equipment and software | 14,495 | 12,360 | 29,139 | 25,044 | ||
| Depreciation and amortization | 15,460 | 13,072 | 29,369 | 25,745 | ||
| Professional services | 10,300 | 7,804 | 20,064 | 14,895 | ||
| Occupancy | 4,787 | 3,941 | 9,132 | 7,802 | ||
| Other non-interest expense | 14,107 | 11,876 | 27,684 | 24,110 | ||
| Total non-interest expense | 154,718 | 132,258 | 298,585 | 264,491 | ||
| Income before income tax expense | 53,984 | 19,422 | 69,679 | 35,950 | ||
| Income tax expense | (15,806) | (4,519) | (19,830) | (8,797) | ||
| Net income | $ 38,178 | $ 14,903 | $ 49,849 | $ 27,153 | ||
| Earnings per share: | ||||||
| Basic EPS (in USD per share) | [1] | $ 0.33 | $ 0.13 | $ 0.44 | $ 0.24 | |
| Diluted EPS (in USD per share) | [1] | $ 0.33 | $ 0.13 | $ 0.43 | $ 0.24 | |
| Weighted-average common shares – Basic (in shares) | [1] | 114,409,231 | 111,395,025 | 114,053,292 | 111,040,410 | |
| Weighted-average common shares – Diluted (in shares) | [1] | 115,692,969 | 111,466,497 | 115,936,910 | 111,076,938 | |
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| X | ||||||||||
- Definition Interest And Fee Income, Loans And Leases Held For Investment No definition available.
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| X | ||||||||||
- Definition Amount of expense for allocation of cost of tangible and intangible assets over their useful lives directly used in production of good and rendering of service. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- References No definition available.
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| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition This element represents equipment expense including depreciation, repairs, rentals, and service contract costs. This item also includes equipment purchases which do not qualify for capitalization in accordance with the entity's accounting policy. This item may also include furniture expenses. No definition available.
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| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Represents the total of interest and dividend income, including any amortization and accretion (as applicable) of discounts and premiums, earned from (1) loans and leases whether held-for-sale or held-in-portfolio; (2) investment securities; (3) federal funds sold; (4) securities purchased under agreements to resell; (5) investments in banker's acceptances, commercial paper, or certificates of deposit; (6) dividend income; or (7) other investments not otherwise specified herein. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of interest and fee income earned from loans held-for-sale, including interest earned from direct financing and sales-type leases held-for-sale, but excluding mortgage loans held-for sale. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of interest and fee income from loans classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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| X | ||||||||||
- Definition Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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| X | ||||||||||
- Definition Aggregate amount of interest expense on all deposits. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Amount of interest expense classified as other. No definition available.
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| X | ||||||||||
- Definition Amount of interest income, amortization of premium and accretion of discount on investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale); classified as operating. No definition available.
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| X | ||||||||||
- Definition Amount of interest income (expense) classified as operating and nonoperating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Amount of fees and commissions from banking, advisory, brokerage, and securities underwriting activities. Activities include, but are not limited to, underwriting securities, private placements of securities, investment advisory and management services, merger and acquisition services, sale and servicing of mutual funds, and other related consulting fees. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of expense for salary, wage, profit sharing; incentive and equity-based compensation; and other employee benefit. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Expenditures for planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services. Costs of public relations and corporate promotions are typically considered to be marketing costs. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Total aggregate amount of all noninterest expense. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The total amount of noninterest income which may be derived from: (1) fees and commissions; (2) premiums earned; (3) insurance policy charges; (4) the sale or disposal of assets; and (5) other sources not otherwise specified. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- References No definition available.
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| X | ||||||||||
- Definition Amount of revenue earned, classified as other, excluding interest income. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of net occupancy expense that may include items, such as depreciation of facilities and equipment, lease expenses, property taxes and property and casualty insurance expense. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount, after discount, accretion and premium amortization, of interest income and dividend income classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of noninterest expense classified as other. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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| X | ||||||||||
- Definition Professional and contract service expense includes cost reimbursements for support services related to contracted projects, outsourced management, technical and staff support. No definition available.
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| X | ||||||||||
- Definition Amount of expense related loan transactions, lease transactions, credit loss from transactions other than loan and lease transactions, and other loss based on assessment of uncollectability from the counterparty to reduce the account to their net realizable value. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income after deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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