Conference Call Scheduled for 9:00 am ET on Thursday, July 31, 2025NEW YORK, July 21, 2025 (GLOBE NEWSWIRE) -- Medallion Financial Corp. (NASDAQ: MFIN, the “Company”), a specialty finance company that originates and services loans in various consumer and commercial industries, as well as loan products and services offered through fintech strategic partners, announced today that it will report its financial results for the quarter ended June 30, 2025, after market close on Wednesday, July 30, 2025. Live Conf ...

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Company Overview - Medallion Bank is an FDIC-insured bank that specializes in providing consumer loans for recreational vehicles, boats, and home improvements, as well as loan origination services to fintech strategic partners [5] Redemption Announcement - Medallion Bank announced that it will redeem all outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F on July 1, 2025, at a redemption price of $25.00 per share [1] - The redemption price does not include declared and unpaid dividends, which will be paid separately on the same date to holders of record [2] Post-Redemption Details - After the redemption date, the Series F Preferred Stock will no longer be considered outstanding, and dividends will cease to accrue [3] - The shares are held in book-entry form through The Depository Trust Company and will be redeemed according to DTC procedures [3] Contact Information - Investors seeking information about the redemption payment should contact the bank or their broker [4]

Core Viewpoint - Medallion Bank has successfully closed a public offering of 3,100,000 shares of its Series G Preferred Stock, raising an aggregate liquidation amount of $77.5 million, which includes a partial exercise of the underwriters' option [1][2] Group 1: Offering Details - The Series G Preferred Stock has a par value of $1.00 per share and a liquidation amount of $25 per share [1] - The offering was priced on May 15, 2025, and commenced trading on the Nasdaq Capital Market under the ticker symbol "MBNKO" on May 22, 2025 [2] - The offering was exempt from the registration requirements of the Securities Act of 1933 and was made only by means of an offering circular [5] Group 2: Use of Proceeds - Medallion Bank intends to use the net proceeds from the offering for general corporate purposes, which may include increasing capital levels, growing consumer loan portfolios, or redeeming outstanding Series F Preferred Stock, subject to regulatory approval [3] Group 3: Company Background - Medallion Bank specializes in providing consumer loans for recreational vehicles, boats, and home improvements, and offers loan origination services to fintech partners [7] - The bank is a Utah-chartered, FDIC-insured industrial bank headquartered in Salt Lake City and is a wholly owned subsidiary of Medallion Financial Corp [7] Group 4: Management and Advisors - Piper Sandler & Co. and Lucid Capital Markets, LLC acted as joint book-running managers for the offering, with several other firms serving as lead managers [4]

Core Viewpoint - Medallion Bank has announced a public offering of 3,000,000 shares of its Series G Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, aiming to raise an aggregate liquidation amount of $75 million [1][4]. Offering Details - The Series G Preferred Stock has a par value of $1.00 per share and a liquidation amount of $25 per share [1]. - Dividends will accrue at a fixed rate of 9.00% per annum until July 1, 2030, after which the rate will be the five-year U.S. Treasury rate plus 4.94% per annum [2]. - Dividends will be payable quarterly, starting October 1, 2025, contingent upon declaration by the board and availability of funds [2]. Trading and Underwriting - The Series G Preferred Stock is expected to trade on the Nasdaq Capital Market under the ticker symbol "MBNKO" [3]. - Underwriters have a 30-day option to purchase an additional 450,000 shares to cover over-allotments [3][5]. Use of Proceeds - The net proceeds from the offering will be used for general corporate purposes, including increasing capital levels, growing consumer loan portfolios, or redeeming outstanding Series F Preferred Stock, pending regulatory approval [4]. Company Background - Medallion Bank specializes in consumer loans for recreational vehicles, boats, and home improvements, and provides loan origination services to fintech partners [8]. - The bank is a Utah-chartered, FDIC-insured industrial bank and a wholly owned subsidiary of Medallion Financial Corp [8].

Company Overview - Medallion Bank is an FDIC-insured bank that specializes in providing consumer loans for recreational vehicles, boats, and home improvements, as well as loan origination services to fintech partners [7] Offering Details - Medallion Bank has launched a public offering of its Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G, with a par value of $1.00 per share and a liquidation amount of $25 per share [1] - The Series G Preferred Stock is expected to trade on the Nasdaq Capital Market under the ticker symbol "MBNKO" [1] - The underwriters will have a 30-day option to purchase additional shares to cover over-allotments [2] Use of Proceeds - The net proceeds from the offering will be used for general corporate purposes, which may include increasing capital levels, growing consumer loan portfolios, or redeeming outstanding Series F Preferred Stock, subject to regulatory approval [3] Management and Underwriters - Piper Sandler & Co. and Lucid Capital Markets, LLC are acting as joint book-running managers for the offering [4] - Additional lead managers include A.G.P./Alliance Global Partners, B. Riley Securities, Inc., and others [4] Regulatory Information - The offering is exempt from the registration requirements of the Securities Act of 1933 and will be made only by means of an offering circular [5] - The preliminary offering circular is available at medallionbankoffering.com [6]

[PART I – FINANCIAL INFORMATION](index=5&type=section&id=PART%20I%20%E2%80%93%20FINANCIAL%20INFORMATION) [Financial Statements](index=5&type=section&id=ITEM%201.%20FINANCIAL%20STATEMENTS) The company's total assets slightly decreased to **$2.85 billion**, while Q1 2025 net income attributable to the company increased to **$12.0 million**, reflecting a strategic focus on consumer and commercial lending [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) Consolidated Balance Sheet Highlights (in thousands) | Metric | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **$2,847,738** | **$2,868,606** | | Net Loans Receivable | $2,261,334 | $2,265,428 | | **Total Liabilities** | **$2,398,726** | **$2,429,648** | | Deposits | $2,022,828 | $2,090,071 | | **Total Equity** | **$449,012** | **$438,958** | | Book Value per Common Share | $16.36 | $16.00 | [Consolidated Statements of Operations](index=7&type=section&id=Consolidated%20Statements%20of%20Operations) Q1 2025 vs. Q1 2024 Performance (in thousands, except per share data) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Total Interest Income | $75,425 | $67,070 | | Net Interest Income | $51,412 | $47,917 | | Provision for Credit Losses | $22,014 | $17,201 | | Total Other Income, net | $11,599 | $5,403 | | **Net Income Attributable to MFIN** | **$12,014** | **$10,024** | | Diluted Earnings Per Share | $0.50 | $0.42 | [Consolidated Statements of Cash Flows](index=10&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Q1 2025 vs. Q1 2024 Cash Flow Summary (in thousands) | Cash Flow Activity | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net Cash from Operating Activities | $36,259 | $32,255 | | Net Cash used for Investing Activities | ($4,695) | ($32,906) | | Net Cash (used in) provided by Financing Activities | ($43,142) | $19,931 | | **Net (Decrease) Increase in Cash** | **($11,578)** | **$19,280** | [Note 4: Loans and Allowance for Credit Losses](index=21&type=section&id=(4)%20LOANS%20AND%20ALLOWANCE%20FOR%20CREDIT%20LOSSES) The total loan portfolio was **$2.49 billion**, with consumer loans comprising **91%**, while the allowance for credit losses increased to **$100.4 million**, and nonperforming loans reached **$34.2 million** Loan Portfolio Composition (in thousands) | Loan Category | March 31, 2025 | % of Total | | :--- | :--- | :--- | | Recreation | $1,545,844 | 62% | | Home Improvement | $812,381 | 33% | | Commercial | $116,059 | 5% | | Taxi Medallion & Other | $12,149 | <1% | | **Total Gross Loans** | **$2,486,433** | **100%** | Allowance for Credit Losses Activity - Q1 2025 (in thousands) | Activity | Amount | | :--- | :--- | | Balance at Dec 31, 2024 | $97,368 | | Charge-offs | ($24,646) | | Recoveries | $5,630 | | Provision for credit losses | $22,014 | | **Balance at Mar 31, 2025** | **$100,366** | - Nonperforming loans increased slightly to **$34.2 million** (**1.38%** of total loans) at March 31, 2025, from **$33.4 million** (**1.34%** of total loans) at December 31, 2024[92](index=92&type=chunk) [Note 5: Funds Borrowed](index=24&type=section&id=(5)%20FUNDS%20BORROWED) The company's primary funding source is deposits exceeding **$2.0 billion**, with total funds borrowed reaching **$2.34 billion** at a **4.09%** weighted average interest rate Composition of Funds Borrowed as of March 31, 2025 (in thousands) | Borrowing Type | Balance | Interest Rate | | :--- | :--- | :--- | | Deposits | $2,023,124 | 3.75% | | Privately placed notes | $146,500 | 8.12% | | SBA debentures and borrowings | $70,500 | 3.84% | | Federal reserve and other borrowings | $65,000 | 4.50% | | Trust preferred securities | $33,000 | 6.69% | | **Total** | **$2,338,124** | **4.09%** | - In February 2024, Medallion Capital secured a new **$18.5 million** debenture financing commitment from the SBA, enhancing its liquidity for commercial lending[106](index=106&type=chunk) [Note 9: Segment Reporting](index=30&type=section&id=(9)%20SEGMENT%20REPORTING) The company operates four lending segments, with Recreation being the largest interest income contributor at **$50.5 million**, and Commercial generating significant other income of **$9.6 million** from equity gains Segment Net Income (Loss) After Taxes - Q1 2025 (in thousands) | Segment | Net Income (Loss) | | :--- | :--- | | Recreation | $8,014 | | Home Improvement | $3,328 | | Commercial Lending | $4,909 | | Taxi Medallion Lending | $497 | | Corporate and Other Investments | ($3,222) | | **Total Net Income After Taxes** | **$13,526** | [Note 10: Commitments and Contingencies](index=32&type=section&id=(10)%20COMMITMENTS%20AND%20CONTINGENCIES) The company reached an agreement in principle with the SEC's Division of Enforcement to resolve a 2021 civil complaint, pending final approvals - In December 2024, the company and its President reached an agreement in principle with the SEC's Division of Enforcement to resolve the 2021 litigation, pending final approvals[159](index=159&type=chunk) [Management's Discussion and Analysis (MD&A)](index=38&type=section&id=ITEM%202.%20MANAGEMENT'S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Management attributes the **20%** YoY net income increase to **$12.0 million** to strong consumer loan growth and higher yields, despite rising funding costs and a **28%** increase in credit loss provisions Key Performance Metrics | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Return on average assets | 1.93% | 1.80% | | Return on average equity | 12.32% | 11.18% | | Net interest margin, gross | 7.94% | 8.10% | | Net charge-offs as a % of avg. loans | 3.10% | 3.20% | [Consolidated Results of Operations](index=51&type=section&id=CONSOLIDATED%20RESULTS%20OF%20OPERATIONS) Net income increased to **$12.0 million** ($0.50/share) in Q1 2025, driven by an **$8.3 million** rise in interest income and **$6.2 million** in other income, partially offset by higher interest expense - Net interest margin tightened to **7.94%** from **8.10%** YoY, as the average cost of funds rose **49 basis points** to **4.16%**, outpacing the **31 basis point** increase in the yield on interest-earning assets[286](index=286&type=chunk)[287](index=287&type=chunk) - Operating expenses increased to **$20.8 million** from **$18.2 million** YoY, driven by higher salaries, loan servicing fees, and professional fees[289](index=289&type=chunk) [Financial Condition and Credit Quality](index=43&type=section&id=PROVISION%20AND%20ALLOWANCE%20FOR%20CREDIT%20LOSSES) The loan portfolio remained stable at **$2.49 billion**, while the allowance for credit losses increased to **$100.4 million**, and the provision for credit losses rose to **$22.0 million** due to rising loss rates - The provision for credit losses of **$22.0 million** was primarily driven by a **$16.9 million** provision for the Recreation segment and a **$3.1 million** provision for the Commercial segment[232](index=232&type=chunk)[285](index=285&type=chunk) - Loans **90+ days past due** increased slightly to **1.2%** of the total portfolio, up from **1.1%** at the end of 2024[238](index=238&type=chunk) [Segment Analysis](index=45&type=section&id=SEGMENT%20RESULTS) Recreation and Home Improvement segments drove loan growth, with Recreation net income up **35%** to **$8.0 million**, while Commercial net income reached **$4.9 million** due to **$9.4 million** in equity gains - Recreation Lending: Originations were **$86.8 million**, down from **$105.8 million** YoY, reflecting more restrictive underwriting, though the portfolio grew **13%** YoY to **$1.5 billion**[245](index=245&type=chunk)[246](index=246&type=chunk) - Home Improvement Lending: Originations were **$48.8 million**, down from **$51.6 million** YoY, with the portfolio growing **8%** YoY to **$812.4 million**[255](index=255&type=chunk)[256](index=256&type=chunk) - Commercial Lending: Net income increased to **$4.9 million** from **$3.6 million** YoY, primarily due to **$9.4 million** in net gains on equity investments[262](index=262&type=chunk)[264](index=264&type=chunk) [Liquidity and Capital Resources](index=53&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains liquidity through over **$2.0 billion** in deposits and other borrowings totaling **$2.34 billion**, while increasing its quarterly dividend to **$0.12** per share and repurchasing **$0.5 million** in shares Debt Composition as of March 31, 2025 (in thousands) | Source | Balance | Percentage | | :--- | :--- | :--- | | Deposits | $2,023,124 | 87% | | Privately placed notes | $146,500 | 6% | | SBA debentures & borrowings | $70,500 | 3% | | Federal reserve and other borrowings | $65,000 | 3% | | Trust preferred securities | $33,000 | 1% | | **Total** | **$2,338,124** | **100%** | - The quarterly dividend was increased to **$0.12 per share**, payable in May 2025[322](index=322&type=chunk) - The company repurchased **60,185 shares** for **$0.5 million** in Q1 2025, with **$14.9 million** remaining under the authorized repurchase program[323](index=323&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=57&type=section&id=ITEM%203.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) No material changes have occurred in the company's market risk disclosures since its 2024 Annual Report on Form 10-K - There has been no material change in disclosure regarding quantitative and qualitative disclosures about market risk since the company filed its Annual Report on Form 10-K for the year ended December 31, 2024[324](index=324&type=chunk) [Controls and Procedures](index=57&type=section&id=ITEM%204.%20CONTROLS%20AND%20PROCEDURES) Management, including the CEO and CFO, concluded that disclosure controls and procedures were effective as of March 31, 2025, with no material changes to internal control over financial reporting - The CEO and CFO concluded that disclosure controls and procedures were effective as of March 31, 2025[325](index=325&type=chunk) - No changes occurred during the quarter that have materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[326](index=326&type=chunk) [PART II—OTHER INFORMATION](index=58&type=section&id=PART%20II%E2%80%94OTHER%20INFORMATION) [Legal Proceedings](index=58&type=section&id=ITEM%201.%20LEGAL%20PROCEEDINGS) The company refers to Note 10 of the financial statements for details on legal proceedings, including the ongoing SEC litigation and potential settlement - Details regarding legal proceedings, including the SEC litigation, are provided in Note 10 to the consolidated financial statements[328](index=328&type=chunk)[159](index=159&type=chunk) [Risk Factors](index=58&type=section&id=ITEM%201A.%20RISK%20FACTORS) No material changes to the risk factors previously disclosed in the company's 2024 Annual Report on Form 10-K have been reported - No material changes in risk factors are reported since the filing of the 2024 Form 10-K[329](index=329&type=chunk) [Issuer Purchases of Equity Securities](index=58&type=section&id=ITEM%202.%20UNREGISTERED%20SALES%20OF%20EQUITY%20SECU RITIES%20AND%20USE%20OF%20PROCEEDS) The company repurchased **60,185 shares** for **$0.5 million** in Q1 2025 under its stock repurchase program, with **$14.9 million** remaining available Stock Repurchase Activity - Q1 2025 | Period | Total Shares Purchased | Average Price Paid | Total Cost (in thousands) | | :--- | :--- | :--- | :--- | | Jan 1 - Jan 31 | — | — | $— | | Feb 1 - Feb 28 | — | — | $— | | Mar 1 - Mar 31 | 60,185 | $8.83 | $531 | | **Total** | **60,185** | **$8.83** | **$531** | - As of March 31, 2025, **$14,861,069** remained available for repurchase under the company's stock buyback program[330](index=330&type=chunk)[331](index=331&type=chunk)

Financial Data and Key Metrics Changes - The company reported a net income of $12 million and earnings per share of $0.50 for the quarter [5] - Net interest income grew by 7% to $51.4 million compared to the previous year [13] - The net interest margin on gross loans was 7.94%, up 10 basis points from the previous quarter [13] - The net book value per share increased to $16.36 from $16 in the prior quarter and $14.93 a year ago [17] Business Line Data and Key Metrics Changes - The consumer lending business originated $136 million in loans, maintaining a loan book of $2.4 billion [5] - Recreation loans originated totaled $86.8 million at an average rate of 16.06%, while home improvement loans were $48.8 million at an average rate of 11.5% [14] - The commercial lending division originated $9.7 million in new loans and exited one loan with a significant return [6][7] Market Data and Key Metrics Changes - The company collected $2.6 million in cash from its taxi medallion business, consistent with the previous quarter [9] - The strategic partnership program achieved over $125 million in originations for the second consecutive quarter [10] Company Strategy and Development Direction - The company is focused on a methodical approach to growth, ensuring sustainable practices in its lending operations [11] - There is an ongoing effort to expand the strategic partnership program, with expectations to add new partners over time [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of cash collections from the taxi medallion business and identified recovery opportunities in charge-off loans [9] - The company anticipates continued gains from its equity investments, although the timing of exits remains unpredictable [8][27] Other Important Information - The company repurchased approximately 60,000 shares and has $15 million remaining under its share repurchase plan [11] - A 9% increase in the quarterly dividend to $0.12 per share was approved by the Board, marking the third increase since reinstating the dividend [12] Q&A Session Summary Question: Were there any nonrecurring expense items aside from those highlighted? - Management noted elevated professional fees, including $300,000 in technology costs and $600,000 related to the annual meeting [20] Question: Any update on the SEC matter? - Management believes the SEC matter has been resolved, pending board approval and judicial sign-off [22] Question: What flexibility exists in building reserves? - Management confirmed flexibility in determining allowances, using qualitative factors to increase consumer provisions [23] Question: Any anticipated capital gains from Medallion Capital? - Management expects one or two more capital gains this year, though timing is uncertain [27] Question: Outlook on normalized earnings? - Management discussed adjustments for nonrecurring items and expected normalized earnings to be around $0.35 per share [36] Question: Timing for loan sales? - Management anticipates closing a loan sale in Q2, with another sale expected in Q3 or Q4 [38] Question: Durability of strategic partnership loan volume? - Management expressed confidence in maintaining loan volume above $100 million per quarter, with potential for growth [43] Question: Outlook on margins and loan growth? - Management expects margins to remain stable and projects loan growth of 5% to 7% for the year [48]

Financial Data and Key Metrics Changes - The company reported a net income of $12 million and earnings per share of $0.50 for the quarter [5] - Net interest income grew by 7% to $51.4 million compared to the previous year [13] - The net interest margin on gross loans was 7.94%, up 10 basis points from the previous quarter [13] - The net book value per share increased to $16.36 from $16 in the prior quarter and $14.93 a year ago [17] Business Line Data and Key Metrics Changes - The consumer lending business originated $136 million in loans, maintaining a loan book of $2.4 billion [5] - Recreation loans originated totaled $86.8 million at an average rate of 16.06%, while home improvement loans were $48.8 million at an average rate of 11.5% [14] - The commercial lending division originated new and follow-on loans totaling $9.7 million [6] Market Data and Key Metrics Changes - The company reported $2.6 million in cash collections from the taxi medallion business, consistent with the previous quarter [9] - The strategic partnership program achieved over $125 million in originations for the second consecutive quarter [10] Company Strategy and Development Direction - The company is focused on a methodical approach to growth, ensuring it continues to expand correctly [11] - The strategic partnership program is expected to diversify offerings, including loans for employee benefits and medical procedures [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of cash collections from the taxi medallion business and identified recovery opportunities from charge-off loans [9] - The company anticipates continued gains from equity investments, although the timing of exits is unpredictable [8][27] Other Important Information - The company repurchased approximately 60,000 shares and has nearly $15 million remaining under its share repurchase plan [11] - A 9% increase in the quarterly dividend to $0.12 per share was approved by the Board [12] Q&A Session Summary Question: Were there any nonrecurring expense items aside from those highlighted? - Management noted elevated professional fees, including $300,000 in technology costs and $600,000 related to the annual meeting [20] Question: Any update on the SEC matter? - Management believes the matter has been resolved, pending board approval and a judge's sign-off [22] Question: What flexibility exists in building reserves? - Management confirmed flexibility in determining allowances, using qualitative factors in Q1 [23] Question: Are there any anticipated capital gains from Medallion Capital for the rest of the year? - Management expects one or two more capital gains this year, though timing is uncertain [27] Question: What is the outlook on margins and total loan growth for the rest of the year? - Management anticipates margins to remain stable and expects loan growth of 5% to 7% for the year [49][50]

Financial Data and Key Metrics Changes - The company reported a net income of $12 million and earnings per share of $0.50 for the quarter, indicating a strong start to the year [4] - Net interest income grew by 7% to $51.4 million compared to the previous year, with a net interest margin of 7.94% for the quarter [11] - The net book value per share increased to $16.36 from $16 in the prior quarter and $14.93 a year ago [15] Business Line Data and Key Metrics Changes - The consumer lending business originated $136 million in loans, maintaining a loan book of $2.4 billion, with average FICOs at origination of 685 for recreation loans and 781 for home improvement loans [4] - The commercial lending division originated $9.7 million in new loans and exited one loan with a significant return on investment [5][6] - The strategic partnership program achieved over $125 million in originations for the second consecutive quarter, diversifying the loan offerings [8] Market Data and Key Metrics Changes - Total loans outstanding increased by 12% year-over-year to $2.5 billion, including $1.5 billion in recreation loans and $812 million in home improvement loans [12] - Consumer loans more than ninety days past due decreased to $8.7 million, or 0.37% of total consumer loans, down from 0.49% at the end of 2024 [13] Company Strategy and Development Direction - The company is focused on methodical growth and maintaining strong credit quality in its loan origination processes [8] - There is an ongoing effort to expand the strategic partnership program, with expectations to add new partners over time [9] - The company is committed to capital allocation strategies, including share buybacks and dividend increases, reflecting a strong commitment to shareholders [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the stability of the taxi medallion business and identified recovery opportunities in charge-off medallion loans [7] - The company anticipates continued capital gains from its investments, with expectations for one or two more realizations in the year [26] - Management expects loan growth of 5% to 7% for the year, emphasizing a cautious approach to growth in light of economic uncertainties [48] Other Important Information - Operating expenses increased to $20.8 million, attributed to technological initiatives and legal costs [14] - The company approved a 9% increase in the quarterly dividend to $0.12 per share, marking the third increase since reinstating the dividend [10] Q&A Session Summary Question: Were there any nonrecurring expense items aside from those highlighted? - Yes, professional fees were elevated, including $300,000 in technology costs and $600,000 related to the annual meeting [19] Question: Any update on the SEC matter? - The matter is believed to be resolved, pending board approval and a judge's sign-off [21] Question: What flexibility does the company have in building reserves? - The company has flexibility to use judgment in determining allowances, which was applied in Q1 [22] Question: Are there any anticipated capital gains from Medallion Capital for the rest of the year? - Yes, the company expects one or two more capital gains, but the timing is uncertain [26] Question: What is the outlook on margins and total loan growth for the rest of the year? - Margins are expected to remain stable, with loan growth projected at 5% to 7% [48]