Financial Performance - Total net income attributable to stockholders for Q3 2025 was $7.8 million, or $0.32 per share, with a non-recurring charge of $3.5 million; excluding this charge, net income was $11.3 million, up from $8.6 million in the prior year quarter[6] - Net income attributable to stockholders for the three months ended September 30, 2025, was $7,763 thousand, a decrease of 9.8% from $8,611 thousand in Q3 2024[24] - Basic net income per share for Q3 2025 was $0.34, down from $0.38 in Q3 2024, reflecting a decline of 10.5%[24] Revenue and Income Growth - Net interest income increased by 6% to $55.7 million from $52.7 million in the prior year quarter, with a net interest margin on gross loans of 8.21%[6] - Net interest income for the three months ended September 30, 2025, was $55,686 thousand, up from $52,737 thousand in the same period of 2024, representing a year-over-year increase of 5.5%[24] - Total interest income for the nine months ended September 30, 2025, was $233,637 thousand, an increase of 9.1% from $214,183 thousand in the same period of 2024[24] - Other income for the nine months ended September 30, 2025, totaled $23,858 thousand, significantly higher than $7,089 thousand in the same period of 2024, indicating a substantial increase in revenue streams[24] Loan and Asset Management - Loan originations grew to $427.4 million, compared to $275.6 million in the prior year quarter, including $208.4 million from strategic partnerships, up from $39.9 million a year ago[6] - The loan portfolio reached $2.56 billion, a 3% increase from $2.485 billion a year ago[6] - The company collected over $6 million from taxi medallion-related assets, resulting in net recoveries and gains of $3.4 million for the period[4] Asset and Liability Overview - Total assets amounted to $2.900 billion, up from $2.880 billion at the same time last year[13] - Total assets increased to $2,900,387 thousand as of September 30, 2025, compared to $2,868,606 thousand at December 31, 2024, reflecting a growth of 1.1%[22] - As of September 30, 2025, total liabilities amounted to $2.404 billion, down from $2.449 billion a year ago[13] - Total liabilities decreased to $2,403,510 thousand as of September 30, 2025, from $2,429,648 thousand at December 31, 2024, a reduction of 1.1%[22] Equity and Dividend Information - Total stockholders' equity increased to $397,448 thousand as of September 30, 2025, compared to $370,170 thousand at December 31, 2024, marking a growth of 7.4%[22] - The company declared a quarterly cash dividend of $0.12 per share, which is 20% higher than the same quarter last year[11] Credit Quality - Credit loss provision was $18.6 million, down from $20.2 million in the prior year quarter[6] - Provision for credit losses decreased to $18,556 thousand in Q3 2025 from $20,151 thousand in Q3 2024, indicating improved credit quality[24] Interest Rates - The average interest rate on recreation loans was 15.17%, compared to 14.92% a year ago, while home improvement loans had an average interest rate of 9.87%[9]
MEDALLION BANK F(MBNKP) - 2025 Q3 - Quarterly Results