UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q OR (Mark One) ☐ 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) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 DELAWARE 04-3291176 (State of Incorporatio ...

Financial Data and Key Metrics Changes - Net income for the quarter increased by 30% year-over-year to $13.3 million, driven by strong credit quality and robust loan originations [6][19] - Net interest income grew by 32% year-over-year to $38.9 million, attributed to growth in loan portfolios and high yields [13][19] - The net interest margin was 9.07%, a decrease of 13 basis points from the previous quarter but an increase of 23 basis points from the prior year [14] Business Line Data and Key Metrics Changes - Loan originations increased by 45% year-over-year to $305 million, with significant contributions from both consumer and commercial lending [7][13] - The home improvement lending segment grew by 43%, while the recreational portfolio grew by 24% [10] - Commercial lending originated $19 million in loans, marking the highest volume in over four years [11] Market Data and Key Metrics Changes - The company reported a loan loss provision of $7.8 million, up from $3.2 million in the prior quarter, reflecting growth rather than rising credit losses [16] - Non-interest income was $7.4 million, including a $4.2 million gain from exiting an equity investment [17] Company Strategy and Development Direction - The company is focused on expanding its consumer and commercial lending businesses, with plans to remain opportunistic in stock repurchases if shares are undervalued [8][58] - The company aims to grow its fintech partnerships, with a goal of signing a fourth partner within the next three to six months [37][45] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about maintaining long-term interest margins despite rising funding costs [26] - The company anticipates continued growth in loan originations, although it expects that the pace may not be sustainable [29] - Management noted that credit normalization is expected eventually, but current charge-off rates remain low [65] Other Important Information - The company collected $13.1 million related to medallion assets, significantly reducing its exposure and generating approximately $5.2 million of income [20][51] - The company declared and paid a dividend of $0.08 per share during the quarter [8] Q&A Session Summary Question: How do you feel about funding costs in the current environment? - Management acknowledged that funding costs are increasing and they are cautiously raising loan rates to maintain long-term interest margins [26] Question: Can you discuss new loan pricing in recreational and home improvement segments? - Management indicated that they have started to raise interest rates on new home improvement loans and anticipate doing the same for recreational loans [28] Question: Has the outlook for RVs changed recently? - Management noted that while there have been reports of lower RV sales, they have not seen a significant slowdown in loan volume [29] Question: What are the drivers of expenses in the current environment? - Management highlighted competition for employees in Salt Lake City, leading to potential increases in salaries and professional fees [32] Question: Can you discuss the Covered Holdings relationship in the context of the fintech strategy? - Management described Covered as a strategic partner with a strong business model, expecting to grow this segment further [36] Question: What is the outlook for medallion collections? - Management stated that the $13.1 million collected is significant but noted that collections can be lumpy and difficult to replicate [50] Question: How do you view the remaining $25 million in the buyback program? - Management expressed optimism about repurchases while balancing the need for capital to grow the business [58] Question: How should we approach credit normalization in this environment? - Management indicated that while charge-offs are currently low, they expect normalization to occur eventually [65]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 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 Incorporati ...

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, 2021 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) (State of Incorporation) DELAWARE 04-3291176 ( ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 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 Incorpo ...

Medallion Financial Corp. (NASDAQ:MFIN) Q3 2021 Earnings Conference Call November 2, 2021 9:00 AM ET Company Participants Ken Cooper - Investor Relations Andrew Murstein - President and Chief Operating Officer Larry Hall - Chief Financial Officer Anthony Cutrone - Executive Vice President and Chief Financial Officer Conference Call Participants Steve Moss - B. Riley Alex Twerdahl - Piper Sandler Bill Dezellem - Tieton Capital Management Operator Greetings and welcome to the Medallion Financial Third Quarter ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 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 Incorporatio ...

Financial Data and Key Metrics Changes - Net income for the quarter was $10.3 million, with net interest income increasing by 5% to $37.4 million, reflecting a strong net interest margin of 8.84% [5][6] - The total provision for loan losses was a benefit of $700,000 compared to a $3 million expense in the previous quarter, indicating a significant improvement in loan loss management [16][19] - Net cash provided by operating activities increased nearly 41% quarter-over-quarter to $23.4 million from $16.6 million in the same quarter last year [19] Business Line Data and Key Metrics Changes - The gross consumer loan portfolio grew 17% year-over-year to $1.3 billion, with home improvement loans growing nearly 30% [6][9] - The net recreational loan portfolio increased nearly 13%, while the net home improvement portfolio grew over 30% [9][20] - Net income from consumer and commercial lending segments rose to $16.2 million in the second quarter compared to $9 million a year ago [21] Market Data and Key Metrics Changes - The average interest rate for the consumer loan portfolio was 13.14%, down from 14.14% in the previous year, reflecting competitive market conditions [20] - The net commercial lending portfolio was $66.2 million at the end of the second quarter, up from $55.6 million at the end of the first quarter [22] Company Strategy and Development Direction - The company’s growth strategy focuses on three main initiatives: expanding consumer lending, reaccelerating commercial lending growth, and becoming a leaner organization [7][13] - The company is exploring strategic alternatives for non-core assets, including Medallion loans and NASCAR investments, to enhance shareholder value [42][43] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued loan growth, attributing it to strong demand in niches like home improvement and recreational lending [34] - The company anticipates that loan losses and recoveries will normalize in the coming quarters, which may lead to an increase in loan loss provisions [16] Other Important Information - The company recorded a gain on extinguishment of debt of $2.9 million and an after-tax gain of $2.4 million from the sale of a portion of its investment in the FinTech company Upgrade [17][18] - The company has launched strategic partnerships within its Medallion Bank subsidiary to enhance loan origination and fee income [25][26] Q&A Session Summary Question: Expense dynamics and outlook for third quarter - Management indicated that year-to-date expenses are comparable to the previous year and expect expenses to remain around $17 million [32] Question: Loan growth trends and timing - Management believes loan growth will continue, driven by strong demand in their niches, particularly due to pandemic-related changes in consumer behavior [34] Question: Non-core assets and potential divestitures - Management is considering divesting non-core assets, including Medallion loans and NASCAR investments, based on favorable proposals [42][43] Question: Gains from FinTech investments - Management expressed hope for more successful investments similar to Upgrade, which yielded significant returns [44] Question: Charge-offs and loan dispositions - Most charge-offs were related to Medallion lending, with a settlement impacting the figures [51] Question: Net charge-offs by category - For the quarter, net charge-offs were $10.9 million for Medallion loans, $300,000 for home improvement, and a net recovery of $500,000 in recreation lending [55] Question: Competitive environment in RV consumer space - Management noted that while yields have decreased, they are focusing on higher credit quality borrowers, which has led to lower rates [56][57]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) Identification No.) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 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 ( ...

Medallion Financial Corp (NASDAQ:MFIN) Q1 2021 Earnings Conference Call May 4, 2021 9:00 AM ET Company Participants Andrew Murstein - President & COO Larry Hall - SVP & CFO Conference Call Participants Alex Twerdahl - Piper Sandler & Co. Stephen Moss - B. Riley Securities Michael Grondahl - Northland Capital Markets Operator Good morning, and welcome everyone to Medallion Financial's 2021 First Quarter Earnings Call. By now, everyone should have access to the earnings announcement, which was released prior ...