Medallion Financial (US:MFIN)2025-04-30 20:05Financial Performance - Net income increased by 20% to $12.0 million, or $0.50 per share, compared to $10.0 million, or $0.42 per share, in the prior year quarter[5] - Net interest income rose by 7% to $51.4 million from $47.9 million in the prior year quarter[5] - The Company declared a quarterly cash dividend of $0.12 per share, increased from $0.11 per share[5] Loan Originations and Growth - Loan originations grew to $281.6 million, compared to $173.1 million in the prior year quarter, with strategic partnership loans accounting for $136.2 million, up from $15.7 million a year ago[5] - Total loans increased by 12% to $2.5 billion as of March 31, 2025, compared to $2.2 billion a year ago[5] - Home improvement loans grew by 8% to $812.4 million, or 33% of total loans, as of March 31, 2025[10] Credit and Asset Management - Credit loss provision increased to $22.0 million from $17.2 million in the prior year quarter[5] - Total net taxi medallion assets declined to $6.8 million, a 37% reduction from a year ago, representing less than 0.5% of total assets[10] Stock Activity - The Company repurchased 60,185 shares of its common stock at an average cost of $8.83 per share for $0.5 million during the first quarter[10] Interest Rates - The average interest rate on recreation loans was 15.01% at quarter-end, compared to 14.80% a year ago[10]