Medallion Financial (US:MFIN)2024-10-30 17:45Financial Performance - Net interest income increased by 8% year-over-year to $52.7 million[5] - Net income for the quarter was $8.6 million, compared to $11.2 million in the prior year quarter[5] - Diluted EPS was $0.37[5] Loan Portfolio - Total loan originations reached $275.6 million[5] - The loan portfolio grew by 13% from September 30, 2023, to September 30, 2024, reaching $2.485 billion[7] - Recreation loans constitute 63% of the portfolio, totaling $1.555 billion, an increase of 16% year-over-year[7] - Home Improvement loans represent 33% of the portfolio, amounting to $814 million, an increase of 8% year-over-year[7] Credit Quality - The credit loss provision increased to $20.2 million from $14.5 million in the prior year quarter[5] - Net charge-offs (NCO) totaled $13.4 million, representing 2.2% of total loans[16] Shareholder Value - A quarterly dividend of $0.10 per share was paid, with an increase to $0.11 per share beginning in Q4 2024[5] - The company repurchased 122,344 shares for $1.0 million[5]