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]

Core Insights - Medallion Financial (MFIN) reported quarterly earnings of $0.50 per share, exceeding the Zacks Consensus Estimate of $0.32 per share, and showing an increase from $0.42 per share a year ago, resulting in an earnings surprise of 56.25% [1] - The company achieved revenues of $63.01 million for the quarter ended March 2025, surpassing the Zacks Consensus Estimate by 21.71% and up from $53.32 million year-over-year [2] - Medallion Financial has outperformed consensus EPS estimates three times in the last four quarters and has topped revenue estimates four times in the same period [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.37 on revenues of $55.19 million, while for the current fiscal year, the estimate is $1.62 on revenues of $225.22 million [7] - The estimate revisions trend for Medallion Financial is favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Financial - SBIC & Commercial Industry, to which Medallion Financial belongs, is currently ranked in the bottom 43% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Medallion Financial's stock performance [5]

Financial Performance - Net interest income for 1Q25 was $51.4 million[34] - The net interest margin was 7.94% on gross loans and 8.25% on net loans[16,34] - Net income attributable to Medallion Financial Corp was $12.0 million in 1Q25[30] - Return on common equity was 12.96%[16] Loan Portfolio - Total loan portfolio reached $2.486 billion as of March 31, 2025[18] - Recreation loans constitute 62% of the portfolio, totaling $1.545 billion[18] - Home Improvement loans represent 33% of the portfolio, amounting to $812 million[14,18] - Commercial loans account for 4% of the portfolio, with a total of $116 million[14,18] - Loan originations totaled $136.2 million for the Strategic Partnership Program[15] Shareholder Value - A dividend of $0.11 per share was paid per quarter, with an increase to $0.12 per share beginning May 2025[16] - The company repurchased 60,185 shares at an average cost of $8.83 per share[16] - $14.9 million remains in the share repurchase plan[16]