EXCLUSIVE— Shares of San Francisco-based online lender, LendingClub, fell as much as 11% yesterday after the company missed profit estimates and more than doubled its losses in its fourth quarter. The lender also grew its originations from last year, though its growth in that area remained flat from 3Q17.

The lender, which reported earnings yesterday, agreed to settle a $125 million shareholder’s lawsuit in the fourth quarter of 2017, bringing its total net loss for Q417 to $92 million (nearly triple from the $32.3 million loss it reported in the same quarter for 2016).

The lawsuit settlement is the culmination of the scandal that was first reported in May 2016, when it was found that the lender had created false documents when selling loans.

In addition, the lender missed analyst estimates on profit growth, reported a 20% increase in revenue to $156.5 million — $2 million less than estimates.

Aside from its quarterly revenue and loss figures, LendingClub did see some growth on originations, growing 23% YoY though they remained “flat sequentially,” Thomas Casey, CFO for LendingClub, said on the earnings call, which was “a solid outcome given the contraction of credit we implemented with our new credit model,” Casey said.

Additionally, while originations for the quarter (which totaled about $2.44 billion) did remain flat on a quarterly basis, it is worth noting that the funding sources of these originations experienced some changes.

While 42% of funding originations in the last quarter came from banks, only 36% in the last quarter of 2017 were issued by banks, according to LendingClub’s earnings presentation.

Managed accounts, LC structured programs, and “other institutional” sources appeared to pick up the slack, all experiencing minor bump for the quarter. This is notable because the banks’ percentage of originations has not dipped below 40% since the fourth quarter of 2016.

The lender’s results come after reports which claim that 2018 will be a banner year for online lenders, with personal loans leading the charge. When it comes to businesses, there is also data that suggests owners are becoming more comfortable with alternative lenders.

Scott Sanborn, CEO of LendingClub, described 2017 as a “year of transformation” for the lender as it moved forward from its May 2016 scandal and focused on “rebuilding this business for the long haul,” he said on yesterday’s earnings call.

While the lender’s 2017 represented a “significant improvement versus 2016,” according to Sanborn, he also noted that he company could “do better on the bottom line,” he said on the call.

Sanborn said:

As we explained at Investor Day, we’re laser focused on delivering responsible, sustainable growth while investing in the future of this company, so we can help more people meet their financial goals and increase the transformative impact we’re having on the American financial system.

We’ll do this by growing our personal loans business, laying down the foundation for growth with auto and other consumer products, driving operating cost discipline and resolving our remaining legacy issues.

Shares for LendingClub were trading at $4.13 as of 9am ET, down just over 11%.

To learn more about online lending, join us on March 5-6, 2018 at the Parc 55 in San Francisco for Bank Innovation 2018. Click here to register.