FOR IMMEDIATE RELEASE: NEW YORK, NY – July 30, 2024 – 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 ended June 30, 2024. 2024 Second Quarter Highlights • Net income was $7.1 million, or $0.30 per share, compared to $14.2 million, or $0.62 per share, in th ...

NEW YORK, July 30, 2024 (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 ended June 30, 2024. Net income was $7.1 million, or $0.30 per share, compared to $14.2 million, or $0.62 per share, in the prior year quarter. $2.3 million of cash ...

Forward-Looking Statements Our net interest income reached $49.9 million, an all-time high, grew 4% from the prior quarter, and we saw our net charge-offs drop from what we experienced in the first quarter. We remain cautiously optimistic that the solid performance of our loans and the strong credit quality of our overall loan portfolio will continue. Despite some contraction over the past few years, due mainly to the current interest rate environment, our net interest margin increased two basis points from ...

SALT LAKE CITY, July 30, 2024 (GLOBE NEWSWIRE) -- Medallion Bank (Nasdaq: MBNKP, the "Bank"), an FDIC-insured bank providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners, announced today its results for the quarter ended June 30, 2024. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN). Net income of $15.0 million, compared to $19.3 million in the prior year quarter. N ...

CONFERENCE CALL AND WEBCAST INFORMATION How to Participate A link to the live audio webcast of the conference call will also be available at the Company's IR website. The webcast replay will be available at the Company's IR website until the next quarter's results are announced. U.S. dial-in number: (844) 512-2921 International dial-in number: (412) 317-6671 Passcode: 1019 0811 To increase relations with institutional investors, management has dedicated time to hosting individual meetings with portfolio man ...

Company Contact: CONFERENCE CALL AND WEBCAST INFORMATION Date: Wednesday, July 31, 2024 Time: 9:00 a.m. Eastern time U.S. dial-in number: (833) 816-1412 International dial-in number: (412) 317-0504 Live webcast: Link to Webcast of 2Q24 Earnings Cal The webcast replay will be available at the Company's IR website until the next quarter's results are announced. INDIVIDUAL MEETING INFORMATION Medallion Financial Corp. (NASDAQ:MFIN) and its subsidiaries originate and service a growing portfolio of consumer loan ...

As disclosed via a Current Report on Form 8-K filed on December 28, 2023, the Company initially completed a private placement of $12.5 million aggregate principal amount of senior unsecured notes to a certain institutional investor. At that time, the notes were to mature on December 30, 2033, and bear a fixed interest rate of 9.00% per year, paid semi-annually, with the initial payment expected on June 30, 2024. On June 24, 2024, the Company completed a private placement amending and restating such 9.00% se ...

Forward-Looking Statements NEW YORK, June 25, 2024 (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 that it has completed a private placement of $17.5 million aggregate principal amount of senior unsecured notes to a certain institutional investor, by amending and r ...

Over 80% of Votes Cast in Favor of Board's Nominees Brent O. Hatch, Lead Independent Director, added, "Medallion Financial continues to perform well and is positioned for future growth. The Board is committed to continue leveraging the diverse perspectives of its members to set and oversee the strategy that best serves the interests of all Medallion shareholders. We thank shareholders for their engagement leading up to this year's Annual Meeting and we look forward to maintaining the dialogue." Medallion Fi ...

Results Indicate that Shareholders have Decisively Elected Medallion's Director Nominees and Supported the Company's Approach to Executive Compensation – Both by an Extremely Wide Margin NEW YORK, June 11, 2024 (GLOBE NEWSWIRE) -- Medallion Financial Corp. (NASDAQ: MFIN) ("Medallion" or the "Company") today announced the preliminary results of the Company's 2024 Annual Meeting of Shareholders (the "Annual Meeting"). Based on a preliminary vote count provided by the Company's proxy solicitor, Medallion share ...