Group 1 - Medallion Bank announced the commencement of the floating rate period for its Series F Preferred Stock on April 1, 2025, with the benchmark rate being three-month CME Term SOFR [1] - The dividend payment rate determination date for the Series F Preferred will be the second U.S. government securities business day preceding the first day of the relevant dividend period [1] - The Series F Preferred trades on the Nasdaq Capital Market under the ticker symbol "MBNKP" [1] Group 2 - Medallion Bank specializes in consumer loans for recreational vehicles, boats, and home improvements, as well as loan origination services for fintech partners [2] - The Bank collaborates with thousands of dealers, contractors, and financial service providers across the United States [2] - Medallion Bank is a Utah-chartered, FDIC-insured industrial bank and a wholly owned subsidiary of Medallion Financial Corp [2]

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors rely on traditional forms of analysis on ke ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Fiscal Year Ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-37747 MEDALLION FINANCIAL CORP. (Exact name of registrant as specified in its charter) DELAWARE 04-3291176 (State of Incorporation) ( ...

The proven Zacks Rank system focuses on earnings estimates and estimate revisions to find winning stocks. Nevertheless, we know that our readers all have their own perspectives, so we are always looking at the latest trends in value, growth, and momentum to find strong picks.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use fundamental analysis and traditional valuation m ...

Financial Data and Key Metrics Changes - For Q4 2024, the company reported net income of $10.1 million and earnings per share of $0.43, marking the highest quarterly net income for the year [7] - Full year net income reached $35.9 million with earnings per share of $1.52, reflecting a successful year overall [7] - Net interest income grew 6% year-over-year to $52 million for the quarter and increased 8% for the full year to $202.5 million [23][24] - The net interest margin on gross loans was 7.84% for the quarter, down from the previous year [24][25] Business Line Data and Key Metrics Changes - Recreation lending originated $72 million in new loans for Q4, up from $63 million in Q4 2023, with total outstanding recreation loans at $1.5 billion, a year-over-year increase of $207 million [13][14] - Home improvement lending segment originated $83 million in loans during the quarter, with total loans up 9% year-over-year to $827 million [15] - Commercial lending segment ended the year with $111 million in loans, with an average interest rate of 12.97% [17] Market Data and Key Metrics Changes - The average interest rate for recreation loans was 15.07%, up 28 basis points year-over-year, while home improvement loans had an average interest rate of 9.81%, up 30 basis points [15][16] - Total loans outstanding increased 12% year-over-year to $2.5 billion, comprising recreation, home improvement, and commercial loans [27] Company Strategy and Development Direction - The company aims to maintain prudent growth in its lending businesses while keeping credit standards at current levels [60] - A strategic partnership program has led to significant growth in loan volumes, increasing from $40 million in Q3 to $124 million in Q4 [18] - The company has increased its quarterly dividend by 10% to $0.11, reflecting confidence in future performance [20][21] Management's Comments on Operating Environment and Future Outlook - Management noted that Q4 typically sees seasonal highs in delinquencies and charge-offs, but recent vintages are performing better due to tightened credit standards [39][40] - The company anticipates loan growth in 2025 to be in the mid to high single digits, which is lower than previous years but appropriate given current earnings [52] - Management expressed confidence in the company's future and commitment to shareholder value through growth, dividends, and opportunistic buybacks [60][61] Other Important Information - The company reported a provision for credit loss of $20.6 million for the quarter, reflecting an increase from the previous year [28] - Operating expenses for the quarter were $17.2 million, down from the prior quarter, but management expects expenses to rise due to growth initiatives [29][55] Q&A Session Summary Question: Why is the company selling the $121 million of recreation loans? - The company is selling due to stronger than anticipated volume and to provide additional funding options, with a potential closing in 30 to 60 days [36][37] Question: What is the outlook on credit quality and delinquency levels? - Management indicated that Q4 typically sees seasonal highs in delinquencies, but recent loans are performing better due to tightened credit standards [39][40] Question: What are the expectations for margins in 2025? - Management is hesitant to call a bottom for margins but expects to see some stability, with new originations at rates above current averages [48][50] Question: What is the outlook for loan growth in 2025? - The company expects loan growth to be in the mid to high single digits, which is lower than past years but appropriate given the current loan book size [52] Question: What should be expected for operating expenses going forward? - Operating expenses are expected to be around $21 to $21.5 million per quarter, higher than previous levels due to growth and initiatives [55]

Core Viewpoint - Medallion Financial (MFIN) reported quarterly earnings of $0.43 per share, exceeding the Zacks Consensus Estimate of $0.33 per share, but down from $0.60 per share a year ago, indicating a 30.30% earnings surprise [1][2] Financial Performance - The company achieved revenues of $56.25 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 4.52% and up from $52.01 million year-over-year [2] - Over the last four quarters, Medallion Financial has exceeded consensus EPS estimates three times and topped revenue estimates four times [2] Stock Performance - Medallion Financial shares have declined approximately 13.7% since the beginning of the year, contrasting with the S&P 500's decline of only 0.5% [3] Future Outlook - The company's earnings outlook is mixed, with the current consensus EPS estimate for the upcoming quarter at $0.34 on revenues of $54.45 million, and $1.61 on revenues of $230.02 million for the current fiscal year [7] - The Zacks Rank for Medallion Financial is currently 3 (Hold), suggesting the stock is expected to perform in line with the market in the near future [6] Industry Context - The Financial - SBIC & Commercial Industry, to which Medallion Financial belongs, is currently in the top 33% of over 250 Zacks industries, indicating a favorable industry outlook [8]

Financial Performance - Net income for Q4 2024 was $10.1 million, or $0.43 per share, down from $14.3 million, or $0.60 per share in Q4 2023, with taxi medallion recoveries contributing $1.3 million compared to $12.5 million in the prior year quarter [8]. - Full-year net income was $35.9 million, or $1.52 per share, compared to $55.1 million, or $2.37 per share in the previous year, including $6.9 million of taxi medallion recoveries versus $29.6 million in the prior year [8]. - Total net income attributable to Medallion Financial Corp. for Q4 2024 was $10,142,000, a decrease of 29.5% from $14,318,000 in Q4 2023 [22]. - Basic net income per share for Q4 2024 was $0.45, down from $0.63 in Q4 2023, representing a decline of 28.6% [22]. Loan Originations and Growth - Loan originations for the full year reached $1.0 billion, a 4% increase from $960.0 million in the previous year, with Q4 originations growing 69% to $285.7 million from $169.1 million [8]. - Total loans, including loans held for sale, increased 12% to $2.5 billion as of December 31, 2024, compared to $2.2 billion a year ago [8]. - The recreation loans segment saw a 15% growth to $1.5 billion, representing 62% of total loans, while home improvement loans grew 9% to $827.2 million, accounting for 33% of total loans [12]. Interest Income and Expenses - Net interest income for Q4 2024 grew 6% to $52.0 million from $49.0 million in Q4 2023, while full-year net interest income increased 8% to $202.5 million from $188.1 million [8]. - Total interest income for Q4 2024 was $76,519,000, an increase of 13.7% from $67,585,000 in Q4 2023 [22]. - Total interest expense increased to $24,507,000 in Q4 2024, up 32.1% from $18,567,000 in Q4 2023 [22]. Credit Loss Provisions - The company recorded a credit loss provision of $20.6 million in Q4 2024, up from $10.8 million in the prior year quarter, and a total of $76.5 million for the full year, compared to $37.8 million in the previous year [8]. - Provision for credit losses increased significantly to $20,572,000 in Q4 2024, compared to $10,764,000 in Q4 2023, reflecting a 90.5% rise [22]. - Net interest income after provision for credit losses decreased to $31,440,000 in Q4 2024, down 17.7% from $38,254,000 in Q4 2023 [22]. Dividends and Share Repurchase - The Board of Directors declared a quarterly dividend of $0.11 per share, a 10% increase from the previous dividend [8]. - Dividends declared per common share increased to $0.11 in Q4 2024, compared to $0.10 in Q4 2023, marking a 10% increase [22]. - The company repurchased 570,404 shares of common stock at an average cost of $8.07 per share during the year, totaling $4.6 million [8]. Total Assets and Other Income - Total assets grew to $2.9 billion as of December 31, 2024, an 11% increase from $2.6 billion a year ago [8]. - Total other income, net for the year ended December 31, 2024, was $11,330,000, slightly up from $11,320,000 in 2023 [22]. Other Expenses and Income Tax - Total other expenses decreased to $17,213,000 in Q4 2024, down 9.8% from $19,084,000 in Q4 2023 [22]. - Income tax provision for Q4 2024 was $6,815,000, slightly up from $6,328,000 in Q4 2023, indicating an increase of 7.7% [22].

NEW YORK, March 04, 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 results for the quarter and full-year ended December 31, 2024. 2024 Fourth Quarter Highlights Net income was $10.1 million, or $0.43 per share, compared to $14.3 million, or $0.60 per shar ...

NEW YORK, Feb. 26, 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 results for the quarter and full-year ended December 31, 2024, after the market closes on Tuesday, March 4, 2025. CONFERENCE CALL AND WEBCAST INFORMATION A conference call to disc ...

Core Insights - Medallion Bank reported solid financial performance for the fourth quarter and full year of 2024, with quarterly earnings of $15.6 million and net interest income exceeding $53 million [4][6]. 2024 Fourth Quarter Highlights - Quarterly net income was $15.6 million, down from $21.9 million in the same quarter of the previous year [6]. - Net interest income for the quarter was $53.1 million, compared to $48.9 million in the prior year quarter [6]. - The bank's total provision for credit losses was $20.5 million, significantly higher than $9.7 million in the prior year quarter [6]. - Annualized net charge-offs were 3.28% of average loans outstanding, up from 1.04% in the prior year quarter [6]. - The recreation loan portfolio grew 15% to $1.543 billion as of December 31, 2024 [7]. 2024 Full-Year Highlights - Full-year net income was $60.6 million, down from $79.9 million in 2023 [6]. - Total net interest income for the year was $204.7 million, compared to $188.9 million in 2023 [6]. - The total provision for credit losses for the year was $75.8 million, compared to $36.5 million in 2023 [6]. - The total loan portfolio grew by 13% to $2.4 billion [6]. - The bank's total assets reached $2.5 billion, with total capital at $382.4 million as of December 31, 2024 [6]. Recreation Lending Segment - Loan originations in the recreation lending segment were $72.2 million in the fourth quarter, compared to $62.7 million in the prior year quarter [7]. - For the year, recreation loan originations totaled $526.6 million, up from $447.0 million in 2023 [7]. - Annualized net charge-offs for recreation loans were 4.35% in the fourth quarter, compared to 4.23% in the prior year quarter [7]. Home Improvement Lending Segment - The home improvement loan portfolio grew 9% to $827.2 million as of December 31, 2024 [11]. - Loan originations for home improvement loans were $82.5 million in the fourth quarter, compared to $66.0 million in the prior year quarter [11]. - The provision for home improvement credit losses was $4.4 million in the fourth quarter, down from $6.9 million in the prior year quarter [11]. Dividend Declaration - The Board of Directors declared a quarterly cash dividend of $0.50 per share on the Bank's Series F Preferred Stock, payable on April 1, 2025 [8].