A LendingTree Inc. board member purchased $1.059 million worth of stock in the Charlotte-based online loan company, according to a filing with the Securities and Exchange Commission.

The board member, G. Kennedy Thompson, has served on the LendingTree board since March 15, and this is the second time he has purchased stock since then. The first occurred in September when he purchased 5,000 shares at $230.91 for a total value of $1.15 million.

This purchase was on Nov. 8 for 4,000 shares of company stock at $264.90 for a total value of $1,059,600. He now owns 9,000 shares of LendingTree company stock.

Thompson served as the president and chief executive officer of Wachovia Corp., another Charlotte-based financial services company, from 1999 to 2008.

This purchase comes at the same time that CEO Douglas Lebda sold $1,052,373 worth of company shares on Nov. 8 according to another Form 4 filing.

Lebda sold 4,000 shares at various prices ranging from $257.39 to $270.55 with the most shares, 874, being sold at $260.81.

Lebda still owns more than 433,000 shares of the company worth more than $112 million.

LendingTree was founded in 1996 and focuses on connecting customers with multiple lenders to provide them with a range of potential loan options for several services including personal, business, and auto loans.

The company stock price closed up $11.45, or 4.5 percent, at $264.60 on Monday afternoon.