Core Insights - Medallion Bank reported a net income of $19.8 million for Q3 2025, an increase from $15.5 million in the same quarter last year, driven by growth in recreation loans and stable performance in home improvement loans [3][6] - The bank's total loan portfolio was $2.3 billion as of September 30, 2025, down from $2.4 billion a year earlier, with recreation loans making up 66% of the total [6][7] - Strategic partnership loan originations reached a record $208 million in the quarter, indicating strong demand for consumer loans [3] Financial Performance - Net interest income increased to $55.9 million from $53.2 million year-over-year, with a net interest margin of 8.64%, up from 8.44% [6] - Total non-interest income rose to $2.3 million compared to $0.6 million in the prior year quarter [6] - The provision for credit losses decreased to $17.2 million from $20.2 million in the prior year quarter, reflecting improved asset quality [6] Loan Segments - The recreation loan portfolio was $1.546 billion as of September 30, 2025, with loan originations of $141.7 million, slightly up from $139.1 million in the prior year quarter [7] - Home improvement loan portfolio size was $804.0 million, down from $814.1 million a year earlier, with loan originations of $59.7 million [5][14] - Delinquencies for recreation loans increased to 4.97% from 4.15% year-over-year, while home improvement loans saw a decrease in delinquencies to 0.92% from 1.02% [7][14] Capital and Dividends - The bank's Tier 1 leverage ratio was 17.5% as of September 30, 2025, indicating strong capital position [6] - A quarterly cash dividend of $0.5625 per share on Series G preferred stock was declared, payable on January 2, 2026 [9]