Microcap HeadlinesThe best kept secrets on Wall Street
News Announcements
Medallion Financial Corp.
Reports 56% Increase in Net Income as Compared to the Prior Year Quarter
Announces Third Quarter 2025 Dividend of $0.12 Per Share.
7/30/2025
NEW YORK, July 30, 2025 (GLOBE NEWSWIRE) -- Medallion Financial Corp. (NASDAQ: MFIN, “Medallion” or the “Company”), a specialty finance company that originates and services loans in various consumer and commercial industries, along with offering loan origination services to fintech strategic partners, announced today its financial results for the second quarter ended June 30, 2025.
2025 Second Quarter Highlights
Net income grew 56% to $11.1 million, or $0.46 per share, compared to $7.1 million, or $0.30 per share, in the prior year quarter.
Net interest income grew 7% to $53.4 million from $49.9 million in the prior year quarter.
Net interest margin ("NIM") on net loans was 8.42%, consistent with 8.42% in the prior year quarter, and NIM on gross loans was 8.09%, compared to 8.12% in the prior year quarter.
Loan originations grew to $375.0 million, compared to $309.1 million in the prior year quarter, and included $168.6 million of strategic partnership loan originations in the current quarter compared to $24.3 million in the prior year quarter.
The loan portfolio as of June 30, 2025 was $2.485 billion, up 4% compared to $2.386 billion a year ago.
Credit loss provision increased to $21.6 million from $18.6 million in the prior year quarter.
Net book value per share as of June 30, 2025 was $16.77 per share, up 10% from $15.25 a year ago.
The Company declared and paid a quarterly cash dividend of $0.12 per share.
The Company repurchased 48,166 shares of its common stock at an average cost of $9.44 per share for $0.5 million.
Andrew Murstein, President and Chief Operating Officer of Medallion Financial, commented, “We are pleased with the strong results we delivered in the second quarter of 2025, with a 56% increase in net income year-over-year. This performance reflects the strength of our core lending businesses and disciplined execution across our business lines.
During the quarter, we saw meaningful contributions from our recreation, home improvement and commercial lending segments, supported by solid portfolio originations and higher interest income. Over the past eight quarters, our commercial division has consistently generated net gains from equity investments, totaling $27.6 million for the two-year period, with six of the past eight quarters having significant gains. These equity gains are a result of years of strategic investment and highlight the long-term value embedded in our commercial portfolio. Although we cannot predict when and if these gains will occur, with a portfolio of more than 30 equity investments, represented by $8.1 million on our balance sheet, we believe we will experience additional gains in the future. In addition, we are pleased that our strategic partners loan program in Medallion Bank continues to grow with $169 million in loan originations in the quarter compared to $24 million a year ago.
Overall, we are encouraged by the momentum in our business. With the recent preferred offering at Medallion Bank, we believe we are well-positioned for growth and to continue generating strong returns for our shareholders."
Business Segment Highlights
Recreation Lending Segment
Originations were $142.8 million during the quarter, compared to $209.6 million a year ago.
Recreation loans, including loans held for investment and loans held for sale, grew 3% to $1.546 billion, or 62% of total loans, as of June 30, 2025, compared to $1.497 billion a year ago.
Average loan size was $21,000 with a weighted average FICO score, measured at the time of loan origination, of 684.
Interest income grew 8% to $51.1 million for the quarter, from $47.5 million in the prior year quarter.
The average interest rate was 15.12% at quarter-end, 15.10% excluding loans held for sale, compared to 14.80% a year ago.
Recreation loans 90 days or more past due were $7.3 million, or 0.49% of gross recreation loans, as of June 30, 2025, compared to $5.9 million, or 0.41%, a year ago.
Allowance for credit loss was 5.05% at quarter-end for loans held for investment, compared to 4.35% a year ago.
Home Improvement Lending Segment
Originations were $54.3 million during the quarter, compared to $68.0 million a year ago.
Home improvement loans grew 4% to $803.5 million, or 32% of total loans, as of June 30, 2025, compared to $773.2 million a year ago.
Average loan size was $22,000 with a weighted average FICO score, measured at the time of loan origination, of 769.
Interest income grew 14% to $20.1 million for the quarter, from $17.7 million in the prior year quarter.
The average interest rate was 9.87% at quarter-end, compared to 9.71% a year ago.
Home improvement loans 90 days or more past due were $1.3 million, or 0.16% of gross home improvement loans, as of June 30, 2025, compared to $1.3 million, or 0.17%, a year ago.
Allowance for credit loss was 2.54% at quarter-end, compared to 2.38% a year ago.
About Medallion Financial Corp.
Medallion Financial Corp. (NASDAQ: MFIN) and its subsidiaries originate and service a growing portfolio of consumer loans and mezzanine loans in various industries. Key industries served include recreation (towable RVs and marine) and home improvement (replacement roofs, swimming pools, and windows). Medallion Financial Corp. is headquartered in New York City, NY, and its largest subsidiary, Medallion Bank, is headquartered in Salt Lake City, Utah. For more information, please visit www.medallion.com.
Forward-Looking Statements
Please note that this press release contains forward-looking statements that involve risks and uncertainties relating to business performance, cash flow, net interest income and expenses, other expenses, earnings, growth, and our growth strategy. These statements are often, but not always, made using words or phrases such as “will” and “continue” or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These statements relate to future public announcements of our earnings, expectations regarding our loan portfolio, including collections on our taxi medallion loans, the potential for future asset growth, and market share opportunities. Medallion’s actual results may differ significantly from the results discussed in such forward-looking statements. For example, statements about the effects of the current economy, whether inflation or the risk of recession, the effects of tariffs, operations, financial performance and prospects constitute forward-looking statements and are subject to the risk that the actual impacts may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond Medallion’s control. In addition to risks relating to the current economy, for a description of certain risks to which Medallion is or may be subject, please refer to the factors discussed under the heading “Risk Factors” in Medallion’s 2024 Annual Report on Form 10-K.
Company Contact:
Investor Relations
InvestorRelations@medallion.com
212-328-2176
Investor Relations
The Equity Group Inc.
Lena Cati
Announces Third Quarter 2025 Dividend of $0.12 Per Share.
7/30/2025
NEW YORK, July 30, 2025 (GLOBE NEWSWIRE) -- Medallion Financial Corp. (NASDAQ: MFIN, “Medallion” or the “Company”), a specialty finance company that originates and services loans in various consumer and commercial industries, along with offering loan origination services to fintech strategic partners, announced today its financial results for the second quarter ended June 30, 2025.
2025 Second Quarter Highlights
Net income grew 56% to $11.1 million, or $0.46 per share, compared to $7.1 million, or $0.30 per share, in the prior year quarter.
Net interest income grew 7% to $53.4 million from $49.9 million in the prior year quarter.
Net interest margin ("NIM") on net loans was 8.42%, consistent with 8.42% in the prior year quarter, and NIM on gross loans was 8.09%, compared to 8.12% in the prior year quarter.
Loan originations grew to $375.0 million, compared to $309.1 million in the prior year quarter, and included $168.6 million of strategic partnership loan originations in the current quarter compared to $24.3 million in the prior year quarter.
The loan portfolio as of June 30, 2025 was $2.485 billion, up 4% compared to $2.386 billion a year ago.
Credit loss provision increased to $21.6 million from $18.6 million in the prior year quarter.
Net book value per share as of June 30, 2025 was $16.77 per share, up 10% from $15.25 a year ago.
The Company declared and paid a quarterly cash dividend of $0.12 per share.
The Company repurchased 48,166 shares of its common stock at an average cost of $9.44 per share for $0.5 million.
Andrew Murstein, President and Chief Operating Officer of Medallion Financial, commented, “We are pleased with the strong results we delivered in the second quarter of 2025, with a 56% increase in net income year-over-year. This performance reflects the strength of our core lending businesses and disciplined execution across our business lines.
During the quarter, we saw meaningful contributions from our recreation, home improvement and commercial lending segments, supported by solid portfolio originations and higher interest income. Over the past eight quarters, our commercial division has consistently generated net gains from equity investments, totaling $27.6 million for the two-year period, with six of the past eight quarters having significant gains. These equity gains are a result of years of strategic investment and highlight the long-term value embedded in our commercial portfolio. Although we cannot predict when and if these gains will occur, with a portfolio of more than 30 equity investments, represented by $8.1 million on our balance sheet, we believe we will experience additional gains in the future. In addition, we are pleased that our strategic partners loan program in Medallion Bank continues to grow with $169 million in loan originations in the quarter compared to $24 million a year ago.
Overall, we are encouraged by the momentum in our business. With the recent preferred offering at Medallion Bank, we believe we are well-positioned for growth and to continue generating strong returns for our shareholders."
Business Segment Highlights
Recreation Lending Segment
Originations were $142.8 million during the quarter, compared to $209.6 million a year ago.
Recreation loans, including loans held for investment and loans held for sale, grew 3% to $1.546 billion, or 62% of total loans, as of June 30, 2025, compared to $1.497 billion a year ago.
Average loan size was $21,000 with a weighted average FICO score, measured at the time of loan origination, of 684.
Interest income grew 8% to $51.1 million for the quarter, from $47.5 million in the prior year quarter.
The average interest rate was 15.12% at quarter-end, 15.10% excluding loans held for sale, compared to 14.80% a year ago.
Recreation loans 90 days or more past due were $7.3 million, or 0.49% of gross recreation loans, as of June 30, 2025, compared to $5.9 million, or 0.41%, a year ago.
Allowance for credit loss was 5.05% at quarter-end for loans held for investment, compared to 4.35% a year ago.
Home Improvement Lending Segment
Originations were $54.3 million during the quarter, compared to $68.0 million a year ago.
Home improvement loans grew 4% to $803.5 million, or 32% of total loans, as of June 30, 2025, compared to $773.2 million a year ago.
Average loan size was $22,000 with a weighted average FICO score, measured at the time of loan origination, of 769.
Interest income grew 14% to $20.1 million for the quarter, from $17.7 million in the prior year quarter.
The average interest rate was 9.87% at quarter-end, compared to 9.71% a year ago.
Home improvement loans 90 days or more past due were $1.3 million, or 0.16% of gross home improvement loans, as of June 30, 2025, compared to $1.3 million, or 0.17%, a year ago.
Allowance for credit loss was 2.54% at quarter-end, compared to 2.38% a year ago.
About Medallion Financial Corp.
Medallion Financial Corp. (NASDAQ: MFIN) and its subsidiaries originate and service a growing portfolio of consumer loans and mezzanine loans in various industries. Key industries served include recreation (towable RVs and marine) and home improvement (replacement roofs, swimming pools, and windows). Medallion Financial Corp. is headquartered in New York City, NY, and its largest subsidiary, Medallion Bank, is headquartered in Salt Lake City, Utah. For more information, please visit www.medallion.com.
Forward-Looking Statements
Please note that this press release contains forward-looking statements that involve risks and uncertainties relating to business performance, cash flow, net interest income and expenses, other expenses, earnings, growth, and our growth strategy. These statements are often, but not always, made using words or phrases such as “will” and “continue” or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These statements relate to future public announcements of our earnings, expectations regarding our loan portfolio, including collections on our taxi medallion loans, the potential for future asset growth, and market share opportunities. Medallion’s actual results may differ significantly from the results discussed in such forward-looking statements. For example, statements about the effects of the current economy, whether inflation or the risk of recession, the effects of tariffs, operations, financial performance and prospects constitute forward-looking statements and are subject to the risk that the actual impacts may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond Medallion’s control. In addition to risks relating to the current economy, for a description of certain risks to which Medallion is or may be subject, please refer to the factors discussed under the heading “Risk Factors” in Medallion’s 2024 Annual Report on Form 10-K.
Company Contact:
Investor Relations
InvestorRelations@medallion.com
212-328-2176
Investor Relations
The Equity Group Inc.
Lena Cati
Reports 56% Increase in Net Income as Compared to the Prior Year Quarter
Announces Third Quarter 2025 Dividend of $0.12 Per Share