Medallion Financial Corp(NASDAQ:MFIN) 
Medallion Financial Corp., together with its subsidiaries, operates as a finance company in the United States. It originates, acquires, and services loans that finance taxi medallions and various types of commercial businesses. The company offers consumer loans for the purchase of recreational vehic...
Website: http://www.medallion.com
Founded: 1995
Full Time Employees: 191
Sector: Financial Services
Industry: Credit Services
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At a glance:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-03-31 | 2024-09-30 | 2024-06-30 | 2023-12-31 | 2021-12-31 | 2020-03-31 | 2018-12-31 | 2008-12-31 | 2007-06-30 | 2006-09-30 | 2005-12-31 | 2005-06-30 | 2005-03-31 | 2004-09-30 | 2004-03-31 | 2003-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
interest and fees on loans | 77,336,000 | 79,868,000 | 78,934,000 | 73,737,000 | 74,538,000 | 68,861,000 | 35,019,000 | ||||||||||||
non-loan interest and dividend income | 1,732,000 | 1,815,000 | 1,837,000 | 1,688,000 | |||||||||||||||
total interest income | 79,068,000 | 81,683,000 | 80,771,000 | 75,425,000 | 76,409,000 | 70,704,000 | 35,542,000 | ||||||||||||
interest on deposits | 20,736,000 | 20,636,000 | 20,502,000 | 19,615,000 | 19,191,000 | 16,523,000 | 5,941,000 | ||||||||||||
interest on long-term debt | 3,613,000 | 3,932,000 | 3,870,000 | 3,690,000 | 4,356,000 | 4,182,000 | 2,495,000 | ||||||||||||
interest on short-term borrowings | 660,000 | 689,000 | 713,000 | 708,000 | 125,000 | 131,000 | 564,000 | ||||||||||||
total interest expense | 25,009,000 | 25,257,000 | 25,085,000 | 24,013,000 | 23,672,000 | 20,836,000 | 9,000,000 | 7,535,234 | 8,991,469 | 5,870,877 | 5,221,336 | 4,526,575 | 2,897,692 | ||||||
net interest income | 54,059,000 | 56,426,000 | 55,686,000 | 51,412,000 | 52,737,000 | 49,868,000 | 26,542,000 | 5,621,867 | 8,704,577 | 8,266,685 | 7,744,923 | 6,451,420 | 3,587,556 | ||||||
provision for credit losses | 22,476,000 | 27,690,000 | 18,556,000 | 22,014,000 | 20,151,000 | 18,577,000 | |||||||||||||
net interest income after provision for credit losses | 31,583,000 | 28,736,000 | 37,130,000 | 29,398,000 | 32,586,000 | 31,291,000 | |||||||||||||
other income | 173,000 | 2,933,000 | 34,000 | 641,000 | 785,000 | 1,369,000 | 243,000 | 201,580 | 1,142,481 | 673,238 | 596,587 | 550,264 | |||||||
gain on equity investments | 313,000 | 8,769,000 | 257,000 | 9,430,000 | -519,000 | -512,000 | |||||||||||||
gain on taxi medallion assets | 1,099,000 | 1,273,000 | 1,767,000 | 843,000 | |||||||||||||||
strategic partnership fees | 823,000 | 1,160,000 | 990,000 | 685,000 | |||||||||||||||
total other income | 2,408,000 | 14,135,000 | 3,048,000 | 11,599,000 | 587,000 | 1,099,000 | -6,980,000 | ||||||||||||
other expenses | 1,547,000 | 2,996,000 | 3,251,000 | 2,804,000 | 2,272,000 | 2,416,000 | 2,147,000 | ||||||||||||
salaries and employee benefits | 11,000,000 | 11,378,000 | 10,145,000 | 9,993,000 | 9,456,000 | 9,435,000 | 6,933,000 | ||||||||||||
loan servicing fees | 3,537,000 | 2,932,000 | 2,852,000 | 2,817,000 | 2,790,000 | 2,692,000 | 1,612,000 | ||||||||||||
collection costs | 1,937,000 | 1,734,000 | 1,660,000 | 1,537,000 | 1,673,000 | 1,659,000 | 1,229,000 | ||||||||||||
professional fee costs | 1,252,000 | 1,002,500 | 1,073,000 | 1,750,000 | |||||||||||||||
regulatory fees | 979,000 | 1,024,000 | 680,000 | 821,000 | 961,000 | 888,000 | 365,000 | ||||||||||||
rent expense | 697,000 | 753,000 | 680,000 | 675,000 | 664,000 | 698,000 | 697,000 | 319,786 | |||||||||||
depreciation | 632,000 | ||||||||||||||||||
amortization of intangible assets | 361,000 | 361,000 | 361,000 | 361,000 | 361,000 | 362,000 | 361,000 | ||||||||||||
director compensation | 432,000 | ||||||||||||||||||
total other expenses | 22,374,000 | 22,173,000 | 20,702,000 | 20,758,000 | 18,995,000 | 19,995,000 | 19,271,000 | ||||||||||||
income before income taxes | 11,617,000 | 20,698,000 | 19,476,000 | 20,239,000 | 14,178,000 | 12,395,000 | -16,250,000 | ||||||||||||
income tax provision | 4,328,000 | 6,164,000 | 5,862,000 | 6,713,000 | 4,055,000 | 3,782,000 | 1,290,281 | 684,371 | 556,661 | 566,180 | 45,100 | ||||||||
net income | 7,289,000 | ||||||||||||||||||
yoy | |||||||||||||||||||
qoq | |||||||||||||||||||
less: income attributable to the non-controlling interest | 2,336,000 | 2,336,000 | 2,336,000 | 1,512,000 | 1,512,000 | 1,512,000 | 642,000 | ||||||||||||
net income attributable to medallion financial corp. | 4,953,000 | 12,014,000 | |||||||||||||||||
basic earnings per share | 0.21 | 0.53 | 0.34 | 0.53 | |||||||||||||||
diluted earnings per share | 0.2 | 0.5 | 0.32 | 0.5 | |||||||||||||||
weighted-average common shares outstanding | |||||||||||||||||||
basic | 23,059,744 | 22,774,561 | 22,854,836 | 22,570,797 | 22,490,792 | 22,598,102 | 24,599,804 | 24,401,773 | 17,520,966 | 17,485,785 | 17,312,915 | 17,087,034 | 16,969,568 | 17,135,682 | 18,075,879 | 18,219,999 | |||
diluted | 24,545,801 | 24,247,788 | 24,437,133 | 23,897,167 | 23,447,929 | 23,453,162 | 24,943,169 | 24,401,773 | 17,722,575 | 17,809,997 | 17,749,934 | 17,552,228 | 17,413,963 | 17,605,676 | 18,456,246 | 18,219,999 | |||
gain on sale of recreation loans held for sale | |||||||||||||||||||
net income after taxes | 14,534,000 | 13,614,000 | 13,526,000 | 10,123,000 | 8,613,000 | -13,001,000 | |||||||||||||
less: redemption of non-controlling interest | 878,750 | 3,515,000 | |||||||||||||||||
net income attributable to medallion financial corp. stockholders | 7,711,500 | 7,763,000 | |||||||||||||||||
interest and dividends on investment securities | 1,871,000 | 1,843,000 | 470,000 | ||||||||||||||||
gain on sale of loans and taxi medallions | 340,000 | 242,000 | |||||||||||||||||
write-down of loan collateral in process of foreclosure | -19,000 | -6,286,000 | |||||||||||||||||
professional fees | 818,000 | 1,845,000 | 3,589,000 | 609,981 | 549,524 | 482,121 | 505,257 | 307,528 | 454,532 | ||||||||||
total net income attributable to medallion financial corp. | 8,611,000 | 7,101,000 | -13,643,000 | ||||||||||||||||
basic net income per share | 0.38 | 0.31 | -0.56 | ||||||||||||||||
diluted net income per share | 0.37 | 0.3 | -0.56 | ||||||||||||||||
medallion lease income | 53,000 | 216,107 | 132,646 | 112,500 | 112,500 | 111,815 | 105,000 | ||||||||||||
provision for loan losses | 16,541,000 | ||||||||||||||||||
net interest income after provision for loan losses | 10,001,000 | ||||||||||||||||||
sponsorship and race winnings | 2,573,000 | ||||||||||||||||||
impairment of equity investments | -3,510,000 | ||||||||||||||||||
gain on the extinguishment of debt | |||||||||||||||||||
race team related expenses | 2,130,000 | ||||||||||||||||||
travel, meals, and entertainment | 208,000 | ||||||||||||||||||
income tax benefit | 3,249,000 | ||||||||||||||||||
distributions declared per share | |||||||||||||||||||
interest income on investments | 11,240,886 | 16,825,583 | 13,584,367 | 12,518,037 | |||||||||||||||
dividends and interest income on short-term investments | 1,700,108 | 737,817 | 440,695 | 335,722 | |||||||||||||||
total investment income | 13,157,101 | 17,696,046 | 14,137,562 | 12,966,259 | 10,977,995 | 6,485,248 | |||||||||||||
total noninterest income | 558,355 | 201,580 | 1,517,912 | 912,758 | 928,272 | 763,542 | |||||||||||||
salaries and benefits | 2,534,487 | 2,709,544 | 2,708,035 | 2,912,428 | 2,463,084 | 2,401,722 | |||||||||||||
other operating expenses | 1,098,241 | 1,575,587 | 2,156,655 | 1,923,308 | 2,201,942 | 1,511,606 | |||||||||||||
total operating expenses | 4,562,495 | 4,834,655 | 5,346,811 | 5,340,993 | 4,972,554 | 4,367,860 | |||||||||||||
net investment income before income taxes | 1,617,727 | 4,071,502 | 4,437,786 | 3,316,688 | 2,407,138 | -16,762 | |||||||||||||
net investment income after income taxes | 1,617,727 | 2,781,221 | 3,753,415 | 2,760,027 | 1,840,958 | -61,862 | |||||||||||||
net realized gains on investments | 1,840,822 | -696,202 | -682,815 | 2,047,887 | -2,784,101 | ||||||||||||||
net change in unrealized depreciation on investments | -127,295 | -684,163 | -2,623,257 | ||||||||||||||||
net change in unrealized appreciation on medallion bank and other controlled subsidiaries | 940,746 | ||||||||||||||||||
net unrealized gains on investments | 813,451 | ||||||||||||||||||
net realized/unrealized gains on investments | 2,654,273 | -1,380,365 | |||||||||||||||||
net increase in net assets resulting from operations | 4,272,000 | 1,400,856 | 447,343 | 2,235,679 | 20,055,323 | -1,379,687 | |||||||||||||
net increase in net assets resulting from operations per common share | |||||||||||||||||||
basic | 0.24 | 0.08 | 0.03 | 0.13 | 1.11 | -0.08 | |||||||||||||
diluted | 0.24 | 0.08 | 0.03 | 0.13 | 1.09 | -0.08 | |||||||||||||
dividends declared per share | 0.19 | 0.18 | 0.13 | 0.12 | 0.1 | 0.08 | |||||||||||||
interest on floating rate borrowings | 4,863,678 | 3,262,543 | 2,904,702 | 2,493,258 | 1,710,000 | ||||||||||||||
interest on fixed rate borrowings | 4,127,791 | 2,608,334 | 2,316,634 | 2,033,317 | 1,187,692 | ||||||||||||||
gain on sales of loans | 375,431 | 239,520 | 331,685 | 213,278 | |||||||||||||||
net realized/unrealized loss on investments | -3,306,072 | ||||||||||||||||||
net change in unrealized appreciation (depreciation) on investments | -2,572,235 | 20,998,466 | -1,118,591 | ||||||||||||||||
net realized/unrealized gain on investments | -524,348 | 18,214,365 | -1,317,825 | ||||||||||||||||
interest and dividend income on investments | 10,692,530 | 6,284,934 | |||||||||||||||||
interest income on short-term investments | 173,650 | 95,314 | |||||||||||||||||
net realized losses on investments | -199,234 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-03-31 | 2024-06-30 | 2023-12-31 | 2018-12-31 | 2017-09-30 | 2015-06-30 | 2014-12-31 | 2012-06-30 | 2010-12-31 | 2009-03-31 | 2008-12-31 | 2008-09-30 | 2008-03-31 | 2007-06-30 | 2006-09-30 | 2005-12-31 | 2005-03-31 | 2004-09-30 | 2004-03-31 | 2003-12-31 | 2002-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||||
cash and cash equivalents | 93,915,000 | 136,266,000 | 131,512,000 | 87,719,000 | 52,591,000 | 19,281,000 | 51,004,000 | 47,083,000 | 26,175,000 | 17,303,000 | 24,104,000 | 32,075,000 | 19,290,000 | 30,928,000 | |||||||||
federal funds sold | 44,734,000 | 65,298,000 | 26,482,000 | 70,242,000 | 97,254,000 | 33,871,000 | |||||||||||||||||
investment securities | 67,934,000 | 60,183,000 | 60,424,000 | 55,830,000 | 54,282,000 | 45,324,000 | |||||||||||||||||
equity investments | 8,099,000 | 8,099,000 | 8,997,000 | 10,795,000 | 11,430,000 | 9,197,000 | 4,803,773 | ||||||||||||||||
loans held for sale, at lower of amortized cost or fair value | 10,786,000 | 15,144,000 | 124,733,000 | ||||||||||||||||||||
loans | 2,607,209,000 | 2,551,705,000 | 2,361,700,000 | 2,385,590,000 | 2,215,886,000 | 1,017,882,000 | |||||||||||||||||
allowance for credit losses | -116,696,000 | -114,789,000 | -100,366,000 | -89,788,000 | -84,235,000 | ||||||||||||||||||
net loans receivable | 2,490,513,000 | 2,261,334,000 | 2,295,802,000 | 2,131,651,000 | 981,487,000 | ||||||||||||||||||
goodwill | 150,803,000 | 150,803,000 | 150,803,000 | 150,803,000 | 150,803,000 | 150,803,000 | 5,099,000 | 5,099,000 | 5,069,000 | 5,069,000 | 5,069,000 | 5,008,000 | 5,007,000 | 5,007,000 | 5,007,583 | 5,007,583 | 5,007,583 | 5,007,583 | 5,007,583 | 5,007,583 | 5,007,583 | 5,007,583 | |
intangible assets | 17,340,000 | 17,701,000 | 18,785,000 | 19,869,000 | 20,591,000 | 53,982,000 | |||||||||||||||||
accrued interest receivable | 19,261,000 | 19,401,000 | 14,437,000 | 13,299,000 | 13,538,000 | 7,413,000 | 560,000 | 1,000,000 | 988,000 | 1,068,000 | 1,441,000 | 2,156,000 | 2,149,000 | 2,289,000 | 2,250,000 | 2,366,983 | 4,014,224 | 3,580,460 | 3,229,195 | 3,309,105 | 1,991,469 | 1,727,719 | 4,018,798 |
property, equipment, and right-of-use lease assets | 10,999,000 | ||||||||||||||||||||||
loan collateral in process of foreclosure | 6,418,000 | 7,333,000 | 9,183,000 | 9,359,000 | 11,772,000 | 49,495,000 | |||||||||||||||||
other assets | 29,684,000 | 26,459,000 | 28,234,000 | 29,774,000 | 29,168,000 | 25,210,000 | 4,649,000 | 4,070,000 | 3,758,000 | 52,972,000 | 42,564,000 | 39,877,000 | 36,445,000 | 31,138,000 | 25,139,000 | 20,208,790 | 16,837,798 | 17,481,876 | 18,719,070 | 18,670,871 | 13,055,113 | 15,295,253 | 16,726,496 |
total assets | 2,950,486,000 | 2,955,464,000 | 2,847,738,000 | 2,760,876,000 | 2,587,827,000 | 1,381,846,000 | 665,420,000 | 644,125,000 | 632,287,000 | 512,213,000 | 550,312,000 | 640,636,000 | 646,685,000 | 640,545,000 | 703,252,000 | 679,925,122 | 836,668,188 | 792,973,202 | 734,817,032 | 658,021,362 | 478,875,638 | 456,494,457 | 433,388,345 |
liabilities | |||||||||||||||||||||||
deposits | 2,128,568,000 | 2,084,265,000 | 2,022,828,000 | 2,006,782,000 | 1,866,657,000 | 848,040,000 | |||||||||||||||||
long-term debt | 214,159,000 | 215,987,000 | 199,665,000 | 230,803,000 | 235,544,000 | 158,810,000 | |||||||||||||||||
short-term debt | 44,500,000 | 95,250,000 | 111,750,000 | 8,000,000 | |||||||||||||||||||
deferred tax liabilities | 21,217,000 | 19,596,000 | 21,538,000 | 22,394,000 | 21,207,000 | ||||||||||||||||||
operating lease liabilities | 4,489,000 | 5,041,000 | 4,528,000 | 6,071,000 | 7,019,000 | ||||||||||||||||||
accrued interest payable | 5,635,000 | 6,319,000 | 6,610,000 | 7,945,000 | 6,822,000 | 3,852,000 | 3,138,000 | 1,746,000 | 2,171,000 | 1,383,000 | 1,913,000 | 778,000 | 2,015,000 | 708,000 | 719,000 | 2,043,433 | 664,688 | 1,759,737 | 639,265 | 554,131 | 310,476 | 1,197,248 | 4,528,119 |
income tax payable | 3,310,000 | 759,000 | 4,283,000 | ||||||||||||||||||||
accounts payable and accrued expenses | 21,095,000 | 20,201,000 | 27,524,000 | 26,592,000 | 30,804,000 | 18,789,000 | 4,932,000 | 4,422,000 | 6,651,000 | 4,577,000 | 5,102,000 | 5,798,000 | 7,074,000 | 7,709,000 | 3,854,000 | 3,783,228 | 3,709,891 | 4,837,461 | 10,118,253 | 11,556,172 | 5,392,611 | 5,726,830 | 5,632,067 |
total liabilities | 2,442,973,000 | 2,447,418,000 | 2,398,726,000 | 2,338,087,000 | 2,176,053,000 | 1,091,642,000 | 371,840,000 | 367,141,000 | 357,617,000 | 300,538,000 | 387,547,000 | 466,987,000 | 471,739,000 | 465,216,000 | 530,228,000 | 508,320,759 | 670,376,685 | 626,619,363 | 567,586,463 | 484,626,436 | 320,105,895 | 294,378,135 | 271,804,131 |
commitments and contingencies | |||||||||||||||||||||||
stockholders’ equity | |||||||||||||||||||||||
preferred stock | |||||||||||||||||||||||
common stock | 301,000 | 296,000 | 295,000 | 293,000 | 291,000 | 274,000 | 272,000 | 269,000 | 268,000 | 229,000 | 190,000 | 190,000 | 190,000 | 189,000 | 189,000 | 188,759 | 186,863 | 185,271 | 183,087 | 182,901 | 182,598 | 182,524 | 182,421 |
additional paid in capital | 297,214,000 | 299,458,000 | 293,897,000 | 290,298,000 | 288,046,000 | 274,292,000 | |||||||||||||||||
treasury stock | -51,130,000 | -51,130,000 | -50,675,000 | -49,179,000 | -45,538,000 | -24,919,000 | -24,919,000 | -21,794,000 | -20,184,000 | -14,304,000 | -14,225,000 | -13,012,000 | -13,012,000 | -13,012,000 | -13,012,000 | -12,611,113 | -12,611,113 | -12,611,113 | -12,611,113 | -4,150,391 | -1,142,995 | -431,584 | |
accumulated other comprehensive loss | -2,766,000 | -3,009,000 | -3,744,000 | -82,000 | |||||||||||||||||||
retained earnings | 164,465,000 | 162,374,000 | 139,716,000 | 116,333,000 | 103,883,000 | 13,043,000 | |||||||||||||||||
total stockholders’ equity | 408,084,000 | 408,617,000 | 380,224,000 | 354,001,000 | 342,986,000 | 262,608,000 | |||||||||||||||||
non-controlling interest in consolidated subsidiaries | 99,429,000 | 99,429,000 | 68,788,000 | 68,788,000 | 68,788,000 | 27,596,000 | |||||||||||||||||
total equity | 507,513,000 | 508,046,000 | 449,012,000 | 422,789,000 | 411,774,000 | 290,204,000 | |||||||||||||||||
total liabilities and equity | 2,950,486,000 | 2,955,464,000 | 2,847,738,000 | 2,760,876,000 | 2,587,827,000 | 1,381,846,000 | |||||||||||||||||
number of shares outstanding | 23,864,438,000 | 23,311,683,000 | 23,211,990,000 | 23,449,646,000 | 24,434,357,000 | ||||||||||||||||||
book value per share | 17,100 | 17,530 | 15,250 | 14,630 | |||||||||||||||||||
net loans | 2,436,916,000 | ||||||||||||||||||||||
property, equipment, and right-of-use lease asset | 11,861,000 | 12,814,000 | 14,094,000 | 14,076,000 | |||||||||||||||||||
income tax receivable | 3,290,000 | 671,000 | |||||||||||||||||||||
accumulated other comprehensive income | -2,381,000 | -3,696,000 | |||||||||||||||||||||
number of common shares outstanding | 23,235,030,000 | 24,275,556,000 | 24,590,847,000 | 24,620,623,000 | 21,452,753,000 | 17,400,233,000 | 17,565,771,000 | 17,549,224,000 | 17,544,224,000 | 17,492,674,000 | 17,502,515 | 17,312,915 | 17,173,297 | 16,955,865 | 17,860,611 | 18,163,743 | 18,242,178 | ||||||
book value per common share | 16,360 | ||||||||||||||||||||||
short-term borrowings | 37,500,000 | 55,178,000 | |||||||||||||||||||||
cash | 23,842,000 | 19,412,865 | 27,794,336 | 43,035,506 | 30,395,053 | 28,150,202 | 32,486,160 | 47,675,537 | 21,047,955 | ||||||||||||||
equity investments, at fair value | 6,422,000 | 7,300,000 | 7,710,000 | 5,400,000 | 4,789,000 | 2,793,000 | 3,272,000 | 4,662,000 | 5,103,000 | 2,999,167 | 23,047,377 | 24,012,508 | 30,973,295 | 34,150,233 | 4,982,393 | 4,976,763 | |||||||
equity investments in affiliated entities, at fair value | 3,562,000 | ||||||||||||||||||||||
investments in medallion bank and other controlled subsidiaries, at fair value | |||||||||||||||||||||||
medallion loans, at fair value | 224,580,000 | 309,482,000 | 311,894,000 | 277,756,000 | 323,126,000 | 399,604,000 | 402,964,000 | 411,693,000 | 475,809,000 | 468,398,516 | 484,398,427 | 449,672,510 | 408,271,424 | 348,412,907 | 306,330,557 | 288,211,557 | |||||||
commercial loans, at fair value | 53,866,000 | 75,292,000 | 71,149,000 | 54,280,000 | 76,866,000 | 90,671,000 | 89,611,000 | 94,830,000 | 92,694,000 | 93,018,370 | 143,751,866 | 145,796,651 | 147,258,623 | 134,013,635 | 105,403,494 | 85,970,205 | |||||||
commercial loans to affiliated entities, at fair value | 27,727,000 | ||||||||||||||||||||||
commercial loans to controlled subsidiaries, at fair value | 1,167,000 | ||||||||||||||||||||||
allowance for losses | -36,395,000 | ||||||||||||||||||||||
net investments | 621,185,000 | 543,265,000 | 527,601,000 | 426,471,000 | 483,516,000 | 569,078,000 | 570,597,000 | 582,396,000 | 639,448,000 | 632,288,045 | 782,311,514 | 674,180,922 | 599,374,290 | 419,942,983 | 379,158,525 | 376,605,044 | |||||||
property and equipment | 1,222,000 | ||||||||||||||||||||||
investments other than securities | 9,510,000 | ||||||||||||||||||||||
deferred tax liabilities and other tax payables | 6,973,000 | ||||||||||||||||||||||
funds borrowed | 330,138,000 | 360,973,000 | 348,795,000 | 294,578,000 | 380,532,000 | 460,411,000 | 462,650,000 | 456,799,000 | 525,655,000 | 502,494,098 | |||||||||||||
accumulated undistributed net investment loss | -23,545,000 | -13,984,000 | -19,191,000 | -6,560,000 | -12,372,000 | -3,965,000 | |||||||||||||||||
net unrealized appreciation on investments, net of tax | 58,289,000 | ||||||||||||||||||||||
book value per share/net asset value per share | 10,750 | ||||||||||||||||||||||
investment in medallion bank and other controlled subsidiaries, at fair value | 303,861,000 | 141,132,000 | 136,848,000 | 89,035,000 | 78,735,000 | 76,010,000 | 74,750,000 | 71,211,000 | 65,842,000 | 52,872,580 | |||||||||||||
fixed assets | 235,000 | 236,000 | 256,000 | 458,000 | 419,000 | 352,000 | 411,000 | 425,000 | 480,000 | 640,856 | 702,733 | 614,858 | 1,011,031 | 1,079,688 | 1,223,469 | 1,351,887 | 1,624,764 | ||||||
deferred and other tax liabilities | 33,632,000 | ||||||||||||||||||||||
shareholders’ equity | |||||||||||||||||||||||
capital in excess of par value | 273,483,000 | 271,632,000 | 270,775,000 | 217,092,000 | 179,079,000 | 178,633,000 | 178,482,000 | 178,363,000 | 177,897,000 | 177,405,758 | 176,222,282 | 175,259,730 | 174,098,720 | 174,008,835 | 173,861,837 | 173,831,049 | 183,724,181 | ||||||
accumulated undistributed net realized gains on investments | 85,479 | ||||||||||||||||||||||
total shareholders’ equity | 283,580,000 | 276,984,000 | 274,670,000 | 211,675,000 | 162,765,000 | 173,649,000 | 174,946,000 | 175,329,000 | 173,024,000 | 171,604,363 | 166,291,503 | 166,353,839 | 167,230,569 | 173,394,926 | 158,769,743 | 162,116,322 | 161,584,214 | ||||||
total liabilities and shareholders’ equity | 655,420,000 | 644,125,000 | 632,287,000 | 512,213,000 | 550,312,000 | 640,636,000 | 646,685,000 | 640,545,000 | 703,252,000 | 679,925,122 | 836,668,188 | 792,973,202 | 734,817,032 | 658,021,362 | 478,875,638 | 456,494,457 | 433,388,345 | ||||||
net asset value per share | 11,680 | 11,260 | 11,160 | 9,870 | 9,350 | 9,890 | 9,970 | 9,990 | 9,890 | 9.8 | 9.61 | 9.69 | 9.86 | 9.71 | 8.74 | 8.89 | 8.86 | ||||||
investment securities, at fair value | 10,059,000 | 14,999,412 | 19,965,573 | 18,092,838 | 18,765,147 | 15,407,620 | 3,226,539 | ||||||||||||||||
foreclosed properties | 39,451,000 | 47,502,000 | |||||||||||||||||||||
net unrealized appreciation on investments | 40,861,000 | 43,002,000 | 15,218,000 | 10,093,000 | 11,803,000 | 10,936,000 | 10,752,000 | 4,396,000 | 2,147,269 | ||||||||||||||
accumulated undistributed net investment income | -1,650,000 | -963,000 | 3,554,000 | 4,388,211 | |||||||||||||||||||
consumer loans, at fair value | 111,148,271 | 85,678,412 | 68,912,433 | 67,389,895 | |||||||||||||||||||
floating rate borrowings | 341,004,688 | 323,664,951 | 297,173,074 | 239,986,032 | 184,877,915 | 230,519,057 | |||||||||||||||||
fixed rate borrowings | 324,997,418 | 296,357,214 | 259,655,871 | 232,530,101 | 129,524,893 | 56,935,000 | |||||||||||||||||
accumulated net investment income | 2,493,471 | 3,519,951 | 5,559,875 | ||||||||||||||||||||
total investments | 723,252,919 | 599,374,290 | 422,555,405 | 382,773,010 | 381,987,582 | ||||||||||||||||||
servicing fee receivable | 2,274,178 | 2,429,623 | 2,556,439 | 2,663,468 | 2,975,167 | ||||||||||||||||||
investment in and loans to mtm | |||||||||||||||||||||||
cumulative effect of foreign currency translation | -83,893 | -72,861 | |||||||||||||||||||||
accumulated net investment losses | 3,353,581 | -14,047,804 | -11,392,806 | -22,322,388 | |||||||||||||||||||
investment in and loans to media | 2,612,422 | 3,614,485 | 5,382,538 | ||||||||||||||||||||
preferred stock (1,000,000 shares of 0.01 par value | |||||||||||||||||||||||
stock authorized—none outstanding) | |||||||||||||||||||||||
medallion loans | 202,461,476 | ||||||||||||||||||||||
commercial loans | 169,339,795 | ||||||||||||||||||||||
dividends payable | |||||||||||||||||||||||
revolving line of credit | 101,329,935 | ||||||||||||||||||||||
notes payable to banks | 85,535,985 | ||||||||||||||||||||||
senior secured notes | 6,933,025 | ||||||||||||||||||||||
sba debentures | 67,845,000 | ||||||||||||||||||||||
number of common shares | 18,242,728 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-03-31 | 2009-03-31 | 2008-12-31 | 2008-03-31 | 2005-03-31 | 2004-03-31 | 2003-12-31 |
|---|---|---|---|---|---|---|---|
cash flows from operating activities | |||||||
net income | |||||||
adjustments to reconcile net income resulting from operations to net cash from operating activities: | |||||||
provision for credit losses | 22,014,000 | ||||||
proceeds from sales of strategic partnership loans held for sale | |||||||
origination of loans held for sale | |||||||
gain on sale of recreation loans held for sale | |||||||
paid-in-kind interest income | -249,000 | ||||||
depreciation and amortization | 2,105,000 | 416,000 | 313,000 | 391,000 | 127,268 | 156,532 | 189,490 |
amortization of origination fees | 2,336,000 | ||||||
increase in deferred and other tax liabilities | 6,957,000 | ||||||
net change in value of loan collateral in process of foreclosure | |||||||
net gains on equity investments | |||||||
stock-based compensation expense | 1,688,000 | 62,000 | 95,000 | 57,000 | |||
increase in accrued interest receivable | -166,587 | ||||||
increase in other assets | |||||||
decrease in accounts payable and accrued expenses | -3,263,000 | -1,275,000 | -349,000 | -1,580,538 | -334,213 | ||
decrease in accrued interest payable | -1,621,000 | -1,237,000 | -1,369,000 | -1,177,237 | -886,771 | ||
net cash from operating activities | 36,259,000 | -2,103,000 | 3,275,000 | 4,661,000 | 1,725,328 | -574,872 | 6,017,775 |
cash flows from investing activities | |||||||
loans originated | -284,146,000 | ||||||
proceeds from principal receipts, sales, maturities, and recoveries of loans | |||||||
purchases of investments | -3,873,000 | ||||||
proceeds from principal receipts, sales, and maturities of investments | 14,943,000 | 52,749,000 | 34,381,000 | 94,308,000 | 43,770,825 | 18,556,300 | |
proceeds from the sale and principal payments on loan collateral in process of foreclosure | 3,171,000 | ||||||
net cash from investing activities | -4,695,000 | -381,000 | 6,969,000 | 13,082,000 | -39,607,395 | -86,735,710 | |
cash flows from financing activities | |||||||
proceeds from time deposits and funds borrowed | 582,122,000 | ||||||
repayments of time deposits and funds borrowed | -619,161,000 | ||||||
non-controlling interest equity raised by medallion bank | |||||||
non-controlling interest redemption at medallion bank | |||||||
cash dividends paid on common stock | -2,859,000 | ||||||
distributions to non-controlling interests | -1,512,000 | ||||||
payment of withholding taxes on net settlement of vested stock | -1,202,000 | ||||||
treasury stock repurchased | -531,000 | ||||||
proceeds from the exercise of stock options | 1,000 | ||||||
net cash from financing activities | -43,142,000 | -5,487,000 | 2,541,000 | -20,269,000 | 25,421,871 | 24,992,890 | 97,385,290 |
net increase in cash and cash equivalents | -11,578,000 | 12,785,000 | -2,526,000 | ||||
cash and cash equivalents, beginning of period | 169,572,000 | 32,075,000 | 33,454,000 | ||||
cash and cash equivalents, end of period | 157,994,000 | 24,104,000 | 30,928,000 | ||||
supplemental information | |||||||
cash paid during the period for interest | 24,515,000 | 5,537,000 | 8,294,000 | ||||
cash paid during the period for income taxes | 10,000 | ||||||
non-cash investing | |||||||
transfer of loans (from) to loans held for sale | |||||||
loans transferred to loan collateral in process of foreclosure | 6,483,000 | ||||||
net income resulting from operations | 13,526,000 | ||||||
net gains on investments | -9,430,000 | ||||||
decrease in accrued interest receivable | 877,000 | -7,000 | 140,000 | 199,000 | -263,750 | ||
decrease in other assets | 1,319,000 | -2,002,000 | 2,197,000 | 1,350,349 | 630,327 | ||
proceeds from principal receipts, sales, and maturities of loans | 265,210,000 | ||||||
net (gains) loss on investments | |||||||
increase in accounts payable and accrued expenses | -636,000 | ||||||
increase in accrued interest payable | -6,782,384 | ||||||
net income/net decrease in net assets resulting from operations | |||||||
adjustments to reconcile net income/net decrease in net assets resulting from operations to net cash from operating activities: | |||||||
gain on extinguishment of debt | |||||||
gain on disposition of rpac | |||||||
proceeds from disposition of rpac | |||||||
cash dividend paid on common stock | |||||||
net loss/net increase in net assets resulting from operations | |||||||
adjustments to reconcile net loss/net increase in net assets resulting from operations to net cash from operating activities: | |||||||
provision for loan losses | |||||||
paid-in-kind interest | |||||||
decrease/increase in deferred and other tax asset/liabilities | |||||||
proceeds from the sale of loan collateral in process of foreclosure | |||||||
net change in loan collateral in process of foreclosure | |||||||
capital returned by (investment in) medallion bank and other controlled subsidiaries | |||||||
net realized gains on sale of investments | |||||||
net change in unrealized (appreciation) depreciation on investments | |||||||
net change in unrealized depreciation on investment other than securities | |||||||
increase in unrealized appreciation on medallion bank and other controlled subsidiaries | |||||||
net realized losses on investments | 364,000 | -123,000 | -2,047,887 | 199,234 | |||
gain on deconsolidation of trust iii | |||||||
intangible asset impairment | |||||||
increase in other liabilities | |||||||
purchase of federal funds | |||||||
repayments of federal funds | |||||||
proceeds from exercise of stock options | 89,000 | 24,000 | 21,000 | 3,715 | 30,863 | ||
purchase of treasury stock | |||||||
payments of declared distributions | |||||||
net increase in net assets resulting from operations | 1,889,000 | 2,832,000 | 3,921,000 | 2,235,679 | -1,379,687 | ||
adjustments to reconcile net increase in net assets resulting from operations to net cash from operating activities: | |||||||
amortization of origination costs (deferred fees) | |||||||
increase in net unrealized appreciation on investments | -58,839 | ||||||
investments originated | -51,336,000 | -21,873,000 | -73,085,000 | -77,643,695 | -57,949,181 | -148,860,176 | |
(investments in) capital returned by medallion bank and other controlled subsidiaries | |||||||
capital expenditures | 0 | -12,000 | -80,000 | -36,000 | -146,398 | -30,635 | -156,221 |
free cash flows | 36,259,000 | -2,115,000 | 3,195,000 | 4,625,000 | 1,578,930 | -605,507 | 5,861,554 |
proceeds from funds borrowed | 119,307,000 | 137,739,000 | 90,324,000 | ||||
repayments of funds borrowed | -121,546,000 | -134,888,000 | -107,216,000 | ||||
issuance of sba debentures | |||||||
repayments of sba debentures | |||||||
issuance of common stock | |||||||
purchase of treasury stock at cost | 0 | -74,000 | -3,608,732 | -711,411 | |||
cash and cash equivalents, beginning of year | |||||||
cash and cash equivalents, end of year | |||||||
cash paid during the year for interest | 5,917,572 | 3,323,189 | |||||
cash paid during the year for income taxes | 65,944 | ||||||
non-cash investing activities-net transfers to (from) other assets | -642,000 | 2,621,657 | |||||
net realized gains on investments | -1,147,000 | ||||||
investments in medallion bank and other controlled subsidiaries | -1,782,000 | -5,459,000 | -8,105,000 | ||||
proceeds from issuance of common stock | |||||||
payments of declared dividends | -3,337,000 | -3,334,000 | -3,324,000 | -1,869,226 | -1,275,314 | ||
non-cash investing activities – net transfer to (from) other assets | |||||||
amortization of origination costs | 31,000 | 12,000 | 138,000 | 613,704 | 291,114 | ||
increase in net unrealized (appreciation) depreciation on investments | -867,000 | -185,000 | 2,572,235 | 10,747,785 | |||
increase in unrealized (appreciation) depreciation on medallion bank and other controlled subsidiaries | |||||||
increase in unrealized depreciation on medallion bank and other controlled subsidiaries | 523,000 | ||||||
net decrease in cash and cash equivalents | -7,971,000 | ||||||
(increase) in other assets | |||||||
cash flows used for investing activities | |||||||
banco portfolio acquisition | |||||||
proceeds from sba debentures issued | |||||||
proceeds from trust preferred securities issued | |||||||
commitment fees on sba leverage | |||||||
net change in unrealized (appreciation) depreciation on medallion bank and other controlled subsidiaries | 405,000 | ||||||
non-cash investing activities – net transfers to (from) other assets | |||||||
increase in net unrealized depreciation on investments | 218,000 | ||||||
net cash from (used) for operating activities | |||||||
net increase in cash | -6,872,069 | 16,667,355 | |||||
cash, beginning of period | |||||||
cash, end of period | 30,395,053 | 32,486,160 | |||||
net realized (gains) loss on investments | |||||||
gains on sales of loans | -239,520 | -213,278 | |||||
decrease in servicing fee receivable | 37,862 | 107,029 | |||||
proceeds from floating rate borrowings | 39,012,565 | 37,178,875 | |||||
repayments of floating rate borrowings | -16,799,287 | -82,820,018 | |||||
proceeds from fixed rate borrowings | 18,480,000 | ||||||
repayments of fixed rate borrowings | -9,797,164 | ||||||
net decrease in cash | -15,189,377 | ||||||
non-cash investing activities-net transfers to other assets | |||||||
gain on sale of media | |||||||
increase in unrealized depreciation on mtm | |||||||
increase in valuation of servicing fee receivable | |||||||
cash received for sold bll sba section 7 (a) loans | |||||||
purchase of consumer loan portfolio | |||||||
investments in and loans to mtm | |||||||
cash, beginning of year | 37,267,122 | 47,675,537 | |||||
cash, end of year | |||||||
net cash (used for) investing activities | -34,019,268 | ||||||
amortization of origination costs and portfolio purchase premiums | |||||||
purchase of rv/marine loan portfolio | |||||||
proceeds from the issuance of common stock | |||||||
non-cash investing activities-net transfers from other assets | 1,639,704 | ||||||
increase in unrealized depreciation on media | 1,177,430 | ||||||
investments in and loans to media | -183,879 | ||||||
proceeds from the issuance of certificates of deposits | 72,589,895 | ||||||
amortization of goodwill | |||||||
net realized gains on sales of loans | |||||||
decrease in valuation of collateral appreciation participation loans and servicing fee receivable | |||||||
proceeds from the issuance of fixed rate borrowings | |||||||
net decrease in net assets resulting from operations | |||||||
adjustments to reconcile net decrease in net assets resulting from operations to net cash from operating activities: | |||||||
amortization of loan origination costs | |||||||
net realized loss on investments | |||||||
net realized gain on sales of loans | |||||||
equity in losses of media | |||||||
proceeds from sales and maturities of investments | |||||||
investment in and loans to media | |||||||
proceeds from draws on revolving line of credit | |||||||
proceeds from issuance of sba debentures | |||||||
repayments of notes payable to banks | |||||||
repayments of senior secured notes | |||||||
repayments of commercial paper | |||||||
proceeds from public offering of common stock, net of expenses | |||||||
payments of declared dividends to current stockholders | |||||||
non-cash inveting activities-transfers to other assets |