Core Insights - Medallion Bank reported a net income of $17.3 million for Q2 2025, an increase from $15.0 million in the same quarter last year, highlighting strong earnings growth and significant capital market activities [3][6] - The bank's total loan portfolio grew by 1% year-over-year to $2.3 billion as of June 30, 2025, with strategic partnership volumes increasing by 24% from Q1 2025 [4][6] Financial Performance - Net interest income reached $53.9 million, up from $50.2 million in the prior year quarter, while total non-interest income increased to $2.7 million from $0.9 million [6] - The net interest margin slightly decreased to 8.54% from 8.55% year-over-year [6] - Annualized net charge-offs rose to 2.66% of average loans outstanding compared to 2.31% in the prior year quarter [6] Loan Portfolio Details - The recreation loan portfolio decreased by 0.8% to $1.486 billion, with loan originations at $142.8 million, down from $209.6 million in the prior year quarter [7] - The home improvement loan portfolio grew by 4% to $803.5 million, with loan originations at $54.3 million, compared to $68.0 million in the prior year quarter [12] - Delinquency rates for home improvement loans improved, remaining stable at 0.86%, while recreation loans saw an increase in delinquencies to 4.42% [7][12] Capital Market Activities - The bank completed a $77.5 million Series G preferred stock offering and redeemed $46 million of Series F preferred securities [3][4] - The Series F preferred stock was fully redeemed on July 1, 2025, with no further dividends to be paid [8] Strategic Partnerships - Strategic partnership volumes reached $169 million in Q2 2025, reflecting a 24% increase from $136 million in Q1 2025 [4]