Welcome to our dedicated page for Medallion Finacl news (Ticker: MFIN), a resource for investors and traders seeking the latest updates and insights on Medallion Finacl stock.
Medallion Financial Corp (MFIN) specializes in niche lending solutions across consumer, commercial, and transportation sectors. This dedicated news hub provides investors and stakeholders with timely updates on corporate developments, financial performance, and strategic initiatives.
Key resources include: Earnings reports, regulatory filings, merger & acquisition announcements, and leadership updates. Track the company’s progress in recreation financing, taxi medallion lending, and home improvement loan markets through verified press releases and objective analysis.
Discover how MFIN’s diversified portfolio and specialized lending expertise position it within evolving financial markets. Bookmark this page for continuous access to operational updates, dividend announcements, and strategic partnership news.
Medallion Financial Corp. reported its 2024 first quarter results, with net income of $10.0 million, or $0.42 per share, a decrease from the prior year quarter. Cash collected on taxi medallion-related assets was $3.1 million, compared to $13.2 million in the prior year. Loan originations were $173.1 million, a decrease from the prior year. Total loans grew to $2.2 billion, with a credit loss provision of $17.2 million. The company repurchased shares and declared a quarterly cash dividend of $0.10 per share.
Medallion Bank, a subsidiary of Medallion Financial Corp., reported its 2024 Q1 results with net income of $14.5 million, net interest income of $48.2 million, and a loan portfolio growth of 12%. The bank also declared a $0.50 per share dividend on its Series F Preferred Stock.
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