MFIN Medallion Financial Corp.

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Medallion Financial Beat Consensus Estimates

Wednesday, July 29, 2026 · 4:05 PM ET

Medallion Financial (MFIN) reported earnings of $0.31 per share on revenue of $88.85 million for the second quarter ended June 2026. The consensus earnings estimate was $0.27 per share on revenue of $58.41 million. The company beat consensus estimates by 14.81% while revenue grew 2.54% on a year-over-year basis.

Medallion Financial Corp. is a specialty finance company that originates and services loans that finance taxicab medallions and various types of commercial loans.

Earnings Whisper Grade —
Power Rating—
Reported Earnings
$0.31
Earnings Whisper®
—
Consensus Estimate
$0.27
Earnings Surprise
Earnings Growth-32.6 %
Reported Revenue
$88.85M
Revenue Estimate
$58.41M

Consensus estimates for banks and some financial institutions are for net interest income, which may not be comparable to reported revenue.

Revenue Surprise
Revenue Growth2.5 %

Medallion Bank Reports 2026 Second Quarter Results and Declares Series G Preferred Stock Dividend

Wednesday, July 29, 2026 · 4:05 PM ET GlobeNewswire

SALT LAKE CITY, July 29, 2026 (GLOBE NEWSWIRE) -- Medallion Bank (Nasdaq: MBNKO, the “Bank”), an FDIC-insured bank providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners, announced today its results for the quarter ended June 30, 2026. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN).

2026 Second Quarter Highlights

  • Net income of $16.0 million, compared to $17.3 million in the prior year quarter.
  • Net income attributable to common shareholder of $13.7 million, compared to $14.7 million in the prior year quarter.
  • Net interest income of $58.1 million, compared to $53.6 million in the prior year quarter. Total non-interest income of $3.0 million in both the current and prior year quarters.
  • Net interest margin of 8.46%, compared to 8.55% in the prior year quarter.
  • Recreation loan originations grew 60% from the prior year quarter to $228.5 million, and the loan portfolio grew 18% to $1.8 billion.
  • Home Improvement loan originations grew 137% from the prior year quarter to $128.6 million, and the loan portfolio grew 10% to $885.6 million.
  • Strategic partnership loan originations grew 47% from the prior year quarter to $247.1 million. During the quarter, the Bank added Together Loans to its growing strategic partnership program.
  • Total provision for credit losses was $21.6 million, compared to $18.7 million in the prior year quarter.
  • Annualized net charge-offs were 2.56% of average loans outstanding, compared to 2.66% in the prior year quarter.
  • Annualized return on average assets and return on average equity were 2.36% and 14.39%, respectively, compared to 2.75% and 16.11%, respectively, for the prior year period.
  • Total assets were $2.8 billion and the Tier 1 leverage ratio was 16.9% at June 30, 2026.

Series G Preferred Stock Dividend

On June 25, 2026, the Bank’s Board of Directors declared a quarterly cash dividend of $0.5625 per share on the Bank’s Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G, which trades on the Nasdaq Capital Market under the ticker symbol “MBNKO.” The dividend is payable on October 1, 2026, to holders of record at the close of business on September 15, 2026.

About Medallion Bank

Medallion Bank specializes in providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners. The Bank works directly with thousands of dealers, contractors and financial service providers serving their customers throughout the United States. Medallion Bank is a Utah-chartered, FDIC-insured industrial bank headquartered in Salt Lake City and is a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN).

For more information, visit www.medallionbank.com 

For a description of certain risks to which Medallion Bank is or may be subject, please refer to the factors discussed under the captions “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” included in Medallion Bank’s Form 10-K for the year ended December 31, 2025, and in its Quarterly Reports on Form 10-Q, filed with the FDIC. Medallion Bank’s Form 10-K, Form 10-Qs and other FDIC filings are available in the Investor Relations section of Medallion Bank’s website. Medallion Bank’s financial results for any period are not necessarily indicative of Medallion Financial Corp.’s results for the same period.

Company Contact:
Investor Relations
212-328-2176
InvestorRelations@medallion.com 

MEDALLION BANK
STATEMENTS OF OPERATIONS
(UNAUDITED)
        
 Three Months Ended June 30, Six Months Ended June 30,
(In thousands)2026
 2025
 2026
 2025
Interest income       
Loan interest including fees$78,613 $71,688 $152,441 $142,305
Investments 1,571  1,547  3,035  2,883
Total interest income 80,184  73,235  155,476  145,188
Interest expense 22,123  19,608  42,860  39,225
Net interest income 58,061  53,627  112,616  105,963
Provision for credit losses 21,567  18,697  43,630  37,735
Net interest income after provision for credit losses 36,494  34,930  68,986  68,228
Strategic partnership fees 1,136  787  1,959  1,472
Gain on sale of recreation loans 1,281  1,304  1,281  1,304
Other non-interest income 573  880  854  1,757
Total non-interest income 2,990  2,971  4,094  4,533
Non-interest expense       
Salaries and benefits 6,438  5,297  12,640  10,645
Loan servicing 4,335  3,293  7,872  6,447
Collection costs 1,901  1,985  3,810  3,675
Insurance including FDIC assessment 1,139  1,219  2,212  2,150
Professional fees 897  592  1,880  1,202
Information technology 476  324  893  646
Depreciation and amortization 612  587  1,204  1,165
Occupancy and equipment 163  137  327  286
Advertising 128  81  193  124
Other 681  614  1,293  1,173
Total non-interest expense 16,770  14,129  32,324  27,513
Income before income taxes 22,714  23,772  40,756  45,248
Provision for income taxes 6,728  6,468  11,765  12,305
Net income$15,986 $17,304 $28,991 $32,943
Less: Preferred stock dividends 2,335  2,598  4,671  4,110
Net income attributable to common shareholder$13,651 $14,706 $24,320 $28,833

MEDALLION BANK
BALANCE SHEETS

 (UNAUDITED)

   (UNAUDITED)

(In thousands)June 30, 2026 December 31, 2025 June 30, 2025
Assets     
Cash and federal funds sold$128,662  $147,449  $117,345 
Investment securities, available-for-sale 69,933   60,183   61,529 
Loans held for sale, at the lower of amortized cost or fair value 21,376   15,144   72,490 
      
Loan receivables, inclusive of net deferred loan acquisition cost and fees 2,645,896   2,427,458   2,289,582 
Allowance for credit losses (112,356)   (105,519)   (95,462) 
Loans, net 2,533,540   2,321,939   2,194,120 
Repossessed assets(1) 3,031   2,589   3,414 
Fixed assets and right-of-use lease assets, net 7,593   8,564   7,972 
Deferred tax assets 14,288   14,353   14,647 
Accrued interest receivable 20,769   19,265   15,124 
Other assets 29,926   25,953   85,418 
Total assets$2,829,118  $2,615,439  $2,572,059 
Liabilities and Shareholders’ Equity     
Liabilities     
Deposits$2,293,715  $2,084,265  $2,009,176 
Short-term borrowings 50,000   50,000   40,000 
Accrued interest payable 2,981   3,488   3,065 
Income tax payable(2) 12,325   15,229   26,734 
Other liabilities 18,955   11,373   18,406 
Due to affiliates 1,127   911   1,037 
Total liabilities 2,379,103   2,165,266   2,098,418 
Shareholders’ Equity     
Series E preferred stock 26,303   26,303   26,303 
Series F preferred stock —   —   42,485 
Series G preferred stock 73,126   73,126   73,126 
Common stock 1,000   1,000   1,000 
Additional paid in capital 77,500   77,500   77,500 
Accumulated other comprehensive loss, net of tax (3,692)   (3,214)   (3,931) 
Retained earnings 275,778   275,458   257,158 
Total shareholders’ equity 450,015   450,173   473,641 
Total liabilities and shareholders’ equity$2,829,118  $2,615,439  $2,572,059 

(1) Formerly described as loan collateral in process of foreclosure.
(2) The majority of income tax payable is payable to Medallion Financial Corp, pursuant to a tax sharing agreement.


Source: Medallion Financial Corp.