NEW YORK, July 29, 2026 (GLOBE NEWSWIRE) -- Medallion Financial Corp. (NASDAQ: MFIN) (“Medallion” or the “Company”), a specialty finance company that originates and services loans in various consumer and commercial industries and also provides loan origination services to fintech strategic partners, today announced financial results for the quarter ended June 30, 2026.

2026 Second Quarter Highlights

Total net income attributable to stockholders for the second quarter was $7.4 million, or $0.31 per share, compared with $11.1 million, or $0.46 per share, in the prior-year quarter. Total net income for the quarter included a $0.2 million gain on equity investments, compared with a $6.1 million gain on equity in the prior-year quarter.

Net interest income increased 7% to $57.2 million from $53.4 million in the prior-year quarter.

Net interest margin (“NIM”) on gross loans was 7.94%, compared with 8.09% in the prior-year quarter, and NIM on net loans was 8.28%, compared with 8.42% in the prior-year quarter.

Total assets exceeded $3.0 billion for the first time in company history, reflecting the continued expansion of Medallion’s loan book and balance sheet.

Loan originations rose 63% to $611.6 million from $375.0 million in the prior-year quarter, including $247.1 million of strategic partnership loan originations, compared with $168.6 million a year earlier.

The total loan portfolio at June 30, 2026 was $2.795 billion, up 12.5% from $2.485 billion a year ago.

Credit loss provision was $22.3 million, compared with $21.6 million in the prior-year quarter.

Net book value per share at June 30, 2026 was $17.62, compared with $16.77 a year earlier.

The Company declared and paid a quarterly cash dividend of $0.14 per share.

The Company repurchased 779,799 shares of its common stock at an average cost of $9.85 per share for a total of $7.7 million.

Executive Commentary

Andrew Murstein, President and Chief Executive Officer of Medallion Financial Corp., said the second-quarter results “further demonstrate the strength and scalability of our lending platform.” He said the Company achieved record assets of more than $3.0 billion, increased loan originations by 63%, grew net interest income by 7%, and continued to build book value while maintaining disciplined underwriting standards.

Murstein said demand across the Company’s recreation and home improvement lending businesses remains healthy, and that the strategic partnership business continued to expand, with strategic partnership originations reaching $247 million during the quarter. He also said the Company repurchased nearly 780,000 shares during the quarter at an average price of $9.85 per share, which he said creates meaningful long-term shareholder value.

He added that, despite the absence of significant gains on equity investments in the quarter, the Company’s core lending franchise continued to produce meaningful operating results supporting earnings. As the loan portfolio expanded, Medallion recorded higher credit provisions to support that growth, reflecting the up-front reserve requirements associated with new loan originations. Murstein said those originations provide visibility into future portfolio and earnings growth.

“We believe Medallion is well positioned for continued profitable growth through disciplined underwriting, a strong funding base, expanding strategic partnerships, and prudent capital allocation,” he said.

Business Highlights

Recreation Lending

Recreation lending originations were $228.5 million during the quarter, up 63.0% from $142.8 million a year ago.

Recreation loans, including loans held for investment and loans held for sale, increased 14% to $1.760 billion, or 63% of total loans, as of June 30, 2026, compared with $1.546 billion, or 62%, a year earlier.

Average loan size at June 30, 2026 was $22,300, with a weighted average FICO score, measured at the time of loan origination, of 686.

Interest income rose 12% to $57.1 million for the quarter, from $51.1 million in the prior-year quarter.

The average interest rate was 15.06% at quarter-end, compared with 15.12% a year earlier.

Recreation loans 90 days or more past due totaled $9.7 million, or 0.57% of gross recreation loans, at June 30, 2026, compared with $7.3 million, or 0.49%, a year earlier.

Allowance for credit losses at June 30, 2026 was 5.16%, compared with 5.05% a year ago.

Home Improvement Lending

Home improvement lending originations were $128.6 million during the quarter, up 31.7% from $54.3 million a year ago.

Home improvement loans totaled $885.6 million, or 32% of total loans, as of June 30, 2026, compared with $803.5 million, or 32%, a year earlier.

Average loan size at June 30, 2026 was $24,500, with a weighted average FICO score, measured at the time of loan origination, of 768.

Interest income was $20.9 million for the quarter, compared with $20.1 million in the prior-year quarter.

The average interest rate was 9.69% at quarter-end, compared with 9.87% a year earlier.

Home improvement loans 90 days or more past due were $1.5 million, or 0.17% of gross home improvement loans, at June 30, 2026, compared with $1.3 million, or 0.16%, a year earlier.

Allowance for credit losses at June 30, 2026 was 2.42%, compared with 2.54% a year ago.

Commercial Lending

Commercial loans totaled $126.2 million as of June 30, 2026, compared with $121.4 million a year earlier.

Average loan size was $4.1 million at June 30, 2026, invested across 30 portfolio companies.

Interest income was $3.5 million for the quarter, compared with $3.8 million in the prior-year quarter.

The average interest rate on the portfolio was 14.37% as of June 30, 2026, compared with 13.43% a year earlier.

The Company recognized $0.2 million of net equity gains during the quarter, compared with $6.1 million a year ago.

Strategic Partnerships

Strategic partnership originations were $247.1 million during the quarter, compared with $168.6 million a year ago.

Total strategic partnership loans held for sale at June 30, 2026 were $21.4 million, compared with $12.3 million a year earlier.

Fees generated from strategic partnerships were $1.1 million for the quarter, compared with $0.8 million in the prior-year quarter.

The average holding period of strategic partnership loans was approximately five days.

Taxi Medallion Lending

The Company collected $1.8 million of cash on taxi medallion-related assets during the quarter, resulting in net recoveries and gains of $1.4 million.

Total net taxi medallion-related assets declined to $3.5 million, a 42% reduction from a year ago, and represented 0.1% of the Company’s total assets as of June 30, 2026.

Balance Sheet

Cash and cash equivalents, including investment securities, were $275.9 million as of June 30, 2026, compared with $213.5 million as of June 30, 2025.

Total assets were $3.194 billion at June 30, 2026, up from $2.880 billion a year earlier.

Total liabilities were $2.688 billion at June 30, 2026, compared with $2.347 billion a year earlier.

Capital Allocation

Quarterly Dividend

The Board of Directors declared a quarterly dividend of $0.14 per share, payable on August 31, 2026, to stockholders of record at the close of business on August 17, 2026. The dividend was reinstated in the first quarter of 2022.

Stock Repurchase Plan

During the quarter ended June 30, 2026, the Company repurchased 779,799 shares of its common stock at an average cost of $9.85 per share for $7.7 million.

As of June 30, 2026, the Company had $6.7 million remaining under its $40 million stock repurchase program.

Conference Call Information

The Company will host a conference call to discuss its second-quarter financial results on Thursday, July 30, 2026, at 9:00 a.m. Eastern time.

In connection with its earnings release, the Company updated its quarterly supplement presentation, which is available at www.medallion.com.

How to Participate

• Date: Thursday, July 30, 2026
• Time: 9:00 a.m. Eastern time
• Dial-in number: (833) 816-1412 or (412) 317-0504
• Live webcast: Link to Webcast of 2Q26 Earnings Call

A link to the live audio webcast of the conference call will also be available at the Company’s IR website.

Replay Information

The conference call replay will be available following the end of the call through Thursday, August 6, 2026.

• Dial-in: (844) 512-2921 or (412) 317-6671
• Passcode: 1021 0218

The webcast replay will also be available at the Company’s IR website.

About Medallion Financial Corp.

Medallion Financial Corp. (NASDAQ: MFIN) and its subsidiaries originate and service a portfolio of consumer loans and mezzanine loans in various industries. Key industries served include recreation (towable RVs and marine) and home improvement (swimming pools, replacement roofs, and windows). Medallion Financial Corp. is headquartered in New York City, NY, and its largest subsidiary, Medallion Bank, is headquartered in Salt Lake City, Utah. For more information, visit www.medallion.com.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties relating to business performance, cash flow, net interest income and expenses, other expenses, earnings, growth, and the Company’s growth strategy. These statements are often, but not always, made using words or phrases such as “will” and “continue,” or the negative versions of those words, or other comparable words or phrases of a future or forward-looking nature.

These statements relate to future public announcements of earnings, expectations regarding the loan portfolio, including collections on taxi medallion loans, the potential for future asset growth, and market share opportunities. Medallion’s actual results may differ significantly from the results discussed in such forward-looking statements.

For example, statements about the effects of the current economy, whether inflation or the risk of recession, the effects of tariffs, the impact of the conflict with Iran, operations, financial performance and prospects constitute forward-looking statements and are subject to the risk that actual impacts may differ, possibly materially, from what is reflected in those statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond Medallion’s control.

In addition to risks relating to the current economy, readers should refer to the factors discussed under the heading “Risk Factors” in Medallion’s 2025 Annual Report on Form 10-K for a description of certain risks to which Medallion is or may be subject.

Investor Relations: [email protected] | 212-328-2176