Medallion Financial Corp
NASDAQ:MFIN
Medallion Financial Corp
Medallion Financial Corp. is a bank holding company, which through its subsidiaries, engages in the provision of consumer loans, raises deposits, and other banking activities. The company is headquartered in New York City, New York and currently employs 136 full-time employees. The firm provides loans to individuals and small to mid-size businesses, through its subsidiaries, in four segments. Its segments include Recreation Lending, which is focused on a high-growth prime and non-prime consumer finance business; Home Improvement Lending, which works with contractors and financial service providers to finance home improvements and is concentrated in roofs, swimming pools and windows; Commercial Lending, which is focused on business that has concentrations in manufacturing and administrative, wholesale trade and support services, and Medallion Lending, which operates mainly in the New York City, Newark, and Chicago markets that are engaged in owning, managing, and financing taxi fleets, taxi medallions and corporate car services. The Company’s subsidiaries include Medallion Capital, Inc., Medallion Funding LLC and Freshstart Venture Capital Corp.
Medallion Financial Corp. is a bank holding company, which through its subsidiaries, engages in the provision of consumer loans, raises deposits, and other banking activities. The company is headquartered in New York City, New York and currently employs 136 full-time employees. The firm provides loans to individuals and small to mid-size businesses, through its subsidiaries, in four segments. Its segments include Recreation Lending, which is focused on a high-growth prime and non-prime consumer finance business; Home Improvement Lending, which works with contractors and financial service providers to finance home improvements and is concentrated in roofs, swimming pools and windows; Commercial Lending, which is focused on business that has concentrations in manufacturing and administrative, wholesale trade and support services, and Medallion Lending, which operates mainly in the New York City, Newark, and Chicago markets that are engaged in owning, managing, and financing taxi fleets, taxi medallions and corporate car services. The Company’s subsidiaries include Medallion Capital, Inc., Medallion Funding LLC and Freshstart Venture Capital Corp.
Net Income: Medallion reported third quarter net income of $7.8 million, or $0.32 per share, affected by a $3.5 million one-time charge. Excluding this, earnings were $11.3 million, or $0.46 per share.
Lending Growth: Total loans grew to $2.559 billion and loan originations were $427 million, both up from the prior year.
Margin Expansion: Net interest income increased 6% to $55.7 million and net interest margin rose 10 bps year-over-year to 8.21%. Management expects further margin expansion.
Strategic Partnerships: Strategic partnership loan originations hit a record $208.4 million, tripling year-over-year, with plans for more partner additions.
Portfolio Quality: Credit quality remained solid with low delinquency rates, and the allowance for credit losses rose to reflect seasonal and economic factors.
Capital Actions: The company redeemed Series F preferred stock, paid a $0.12 dividend, and expects to resume share repurchases in coming quarters.
Leadership Change: Andrew Murstein will become CEO as of January 31, 2026.
