Medallion Financial (NASDAQ: MFIN) Q1 2026 earnings, loan growth and higher dividend

Rhea-AI Filing Summary

Medallion Financial Corp. reported first quarter 2026 net income attributable to stockholders of $5.0 million, or $0.20 per diluted share, versus $12.0 million, or $0.50, a year earlier, when results benefited from a $9.4 million equity investment gain versus $0.3 million this quarter.

Core lending activity expanded, with net interest income up 5% to $54.1 million and loan originations up 34% to $376.9 million. The total loan portfolio, including loans held for sale, reached $2.618 billion, up 5% year over year, while net interest margin on net loans improved to 8.35%.

Recreation and home improvement lending remained the main drivers, and taxi medallion exposure declined further to $3.8 million, less than 0.2% of total assets. Net book value per share rose to $17.10, and the quarterly dividend was increased from $0.12 to $0.14 per share.

Insights

Banking and specialty finance analyst

Core lending growth and margins improved, but headline earnings fell on lower equity gains.

Medallion’s quarter shows solid underlying loan growth and stable credit costs alongside softer bottom-line earnings. Net interest income rose to $54.1 million, up 5%, as loan originations expanded 34% to $376.9 million and net interest margin on net loans edged up to 8.35%.

Reported net income attributable to stockholders dropped to $5.0 million from $12.0 million, largely because last year’s quarter included $9.4 million of gains on equity investments versus $0.3 million now. Provision for credit losses was broadly steady at $22.5 million, suggesting credit performance remains manageable.

Portfolio mix continues to shift toward consumer recreation and home improvement loans, while taxi medallion-related assets declined to $3.8 million, under 0.2% of total assets as of March 31, 2026. The board raised the quarterly dividend to $0.14 per share, and net book value per share increased to $17.10, indicating retained capital build despite higher shareholder distributions.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Net income attributable to stockholders: $5.0 million Diluted EPS: $0.20 per share Net interest income: $54.1 million +5 more

8 metrics

Net income attributable to stockholders $5.0 million Quarter ended March 31, 2026

Diluted EPS $0.20 per share Quarter ended March 31, 2026

Net interest income $54.1 million Up 5% vs prior-year quarter

Loan originations $376.9 million 34% year-over-year growth in Q1 2026

Total loans and loans held for sale $2.618 billion Portfolio balance as of March 31, 2026

Net interest margin on net loans 8.35% Quarter ended March 31, 2026

Quarterly dividend $0.14 per share Declared for Q2 2026

Book value per share $17.10 As of March 31, 2026

Key Terms

net interest margin, allowance for credit losses, loans held for sale, non-controlling interest, +2 more

6 terms

net interest margin financial

"Net interest margin (“NIM”) on gross loans was 8.00%, compared to 7.94% in the prior year quarter"

Net interest margin measures how much a bank earns from lending and investing compared with what it pays for funding, expressed as a percentage of its interest-earning assets. Think of it like a grocery store’s markup: it shows the gap between buying cost and selling price per dollar of goods — here, the cost is interest paid and the sale is interest received. Investors watch it because a higher margin usually means a bank is more profitable and better at managing interest rate and credit conditions.

allowance for credit losses financial

"Allowance for credit losses as of March 31, 2026 was 5.19%, compared to 5.00% a year ago"

Allowance for credit losses is a reserve set aside by a financial institution to cover potential losses from borrowers who may not repay their loans. It acts like a safety net, helping the institution prepare for loans that might turn sour. For investors, it signals how cautious the institution is about the quality of its loans and potential risks to its financial health.

loans held for sale financial

"Loans held for sale, at lower of amortized cost or fair value"

Loans held for sale are loans a bank or lender has made but intends to sell to another investor rather than keep on its books. Think of it like a shop buying products specifically to resell: the practice shows how active the lender is in originating loans, affects near-term cash flow and profit prospects, and signals how much credit risk the lender plans to transfer off its balance sheet—information investors use to assess liquidity, earnings volatility and risk exposure.

non-controlling interest financial

"Non-controlling interest in consolidated subsidiaries"

Non-controlling interest represents the portion of ownership in a company held by investors who do not have a controlling stake, meaning they do not have enough voting power to make major decisions. It is similar to owning a minority share of a business partner’s company—while they benefit from profits, they cannot control how the company is run. This matters to investors because it shows how much of the company's value is owned by outside shareholders and affects overall financial reporting.

strategic partnership fees financial

"Fees generated from strategic partnerships were $0.8 million for the quarter"

credit loss provision financial

"Credit loss provision was $22.5 million, compared to $22.0 million in the prior year quarter"

An amount a lender sets aside from earnings to cover loans or other receivables it expects may not be repaid, like an insurance cushion against customer defaults. It matters to investors because larger provisions reduce reported profits and can signal worsening borrower credit or economic stress, while smaller provisions can boost short-term earnings but may hide rising risk to the lender’s future capital and stability.

Earnings Snapshot

Net income attributable to stockholders: $5.0 million

Q1 2026

Net income attributable to stockholders $5.0 million

Diluted EPS $0.20

Net interest income $54.1 million +5% YoY

Loan originations $376.9 million +34% YoY

Total loan portfolio $2.618 billion +5% YoY

Understanding 8-K Material Events →

0001000209false00010002092026-04-292026-04-29

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 29, 2026

MEDALLION FINANCIAL CORP.

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation)

001-37747

(Commission File Number)

04-3291176

(IRS Employer Identification No.)

437 MADISON AVENUE, 38th Floor

NEW YORK, New York 10022

(Address of Principal Executive Offices) (Zip Code)

(212) 328-2100

(Registrant’s Telephone Number, Including Area Code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	MFIN	NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

Item 2.02 Results of Operations and Financial Condition.

Medallion Financial Corp. (the “Company”), issued a press release to the news media announcing, among other things, the Company’s results for the quarter ended March 31, 2026.

A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in the press release is being furnished, not filed, pursuant to Item 2.02. Accordingly, the information in the press release will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

The following exhibits are being filed with this Current Report on Form 8-K:

99.1	Press release, dated April 29, 2026
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

2

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: April 29, 2026

MEDALLION FINANCIAL CORP.
By:		/s/ Anthony N. Cutrone
		Name: Anthony N. Cutrone
		Title: Chief Financial Officer

3

Exhibit 99.1

FOR IMMEDIATE RELEASE:

MEDALLION FINANCIAL CORP. REPORTS 2026 FIRST QUARTER RESULTS

NEW YORK, NY – April 29, 2026 – Medallion Financial Corp. (NASDAQ: MFIN) (“Medallion” or the “Company”), a specialty finance company that originates and services loans in various consumer and commercial industries, along with offering loan origination services to fintech strategic partners, today announced its financial results for the quarter ended March 31, 2026.

2026 First Quarter Highlights

•Total net income attributable to stockholders for the first quarter was $5.0 million, or $0.20 per share, compared to $12.0 million, or $0.50 per share, in the prior year quarter. Total net income for the prior year quarter included a $9.4 million gain on equity investments, compared to $0.3 million in the current quarter.

•Net interest income grew 5% to $54.1 million from $51.4 million in the prior year quarter.

•Net interest margin (“NIM”) on gross loans was 8.00%, compared to 7.94% in the prior year quarter, and NIM on net loans was 8.35%, compared to 8.25% in the prior year quarter.

•Loan originations grew 34% to $376.9 million, compared to $281.6 million in the prior year quarter, and included $170.0 million of strategic partnership loan originations in the current quarter, compared to $136.2 million in the prior year quarter.

•Credit loss provision was $22.5 million, compared to $22.0 million in the prior year quarter.

•The loan portfolio, including loans held for sale, as of March 31, 2026, was $2.618 billion, up 5% from $2.486 billion a year ago.

•Net book value per share at March 31, 2026 was $17.10 compared to $16.36 a year ago.

•The Company declared and paid a quarterly cash dividend of $0.12 per share.

•Subsequent to March 31, 2026, the Board of Directors increased the quarterly cash dividend to $0.14 per share.

Executive Commentary

Andrew Murstein, President and Chief Executive Officer of Medallion Financial Corp., commented, “Following the strong results we achieved in 2025, Medallion continued that momentum in the first quarter 2026, demonstrating our ability to achieve growth across our lending segments. Loan originations grew 64% year-over-year in our recreation segment and 32% year-over-year in our home improvement segment, reflecting healthy demand and the strength of our platform. We saw year-over-year increases in our total portfolio, which expanded to a record $2.618 billion, net interest income, which increased to $54.1 million, and net book value per share, which grew to $17.10.

We continue to see both strong consumer demand for our loan products and improved credit performance. Credit losses in our recreation segment fell to 4.38% in the quarter compared to 4.67% in the 2025 quarter, while credit losses in our home improvement segment extended their multi-quarter decline. We continue to closely monitor the economic environment while remaining disciplined in our underwriting and focused on appropriate risk-adjusted returns.

As we continue to invest in our platform, we are implementing significant technological change and adding talented employees. This effort is designed to help create sustained loan origination growth in the coming periods. Ultimately, our business and lending model is designed to perform across cycles, and organic growth in high-quality assets will create resilience in varying market conditions.

We delivered one of our strongest loan volume quarters on record, reflecting exceptional demand for our products and the success of our origination efforts. We’re excited about the underlying business momentum and confident this strong volume positions us well for solid returns ahead.”

Business Highlights

Recreation Lending

•Originations were $142.5 million during the quarter, compared to $86.8 million a year ago.

•Recreation loans, including loans held for investment and loans held for sale, grew 7.5% to $1.672 billion, or 64% of total loans, as of March 31, 2026, compared to $1.546 billion, or 62%, a year ago.

•Average loan size as of March 31, 2026 was $22,600 with a weighted average FICO score, measured at the time of loan origination, of 687.

•Interest income grew 7% to $54.0 million for the quarter, from $50.5 million in the prior year quarter.

•The average interest rate was 15.11% at quarter-end, compared to 15.01% a year ago.

•Recreation loans 90 days or more past due were $9.2 million, or 0.57% of gross recreation loans, as of March 31, 2026, compared to $7.1 million, or 0.48%, a year ago.

•Allowance for credit losses as of March 31, 2026 was 5.19%, compared to 5.00% a year ago.

Home Improvement Lending

•Originations were $64.4 million during the quarter, compared to $48.8 million a year ago.

•Home improvement loans were $814.9 million, or 31% of total loans, as of March 31, 2026, compared to $812.4 million, or 33%, a year ago.

•Average loan size as of March 31, 2026 was $22,900 with a weighted average FICO score, measured at the time of loan origination, of 781.

•Interest income was $19.4 million for the quarter, compared to $19.8 million in the prior year quarter.

•The average interest rate was 9.82% at quarter-end, relatively unchanged as compared to 9.83% a year ago.

•Home improvement loans 90 days or more past due were $1.4 million, or 0.17% of gross home improvement loans, as of March 31, 2026, compared to $1.5 million, or 0.19%, a year ago.

•Allowance for credit losses as of March 31, 2026 was 2.49%, unchanged from a year ago.

Commercial Lending

•Commercial loans were $119.6 million as of March 31, 2026, compared to $116.1 million a year ago.

•Average loan size was $4.2 million as of March 31, 2026, invested across 28 portfolio companies.

•The average interest rate on the portfolio was 14.18% as of March 31, 2026, compared to 13.14% a year ago.

•We recognized $0.3 million of net equity gains during the quarter, compared to $9.4 million a year ago.

Strategic Partnerships

•Originations were $170.0 million during the quarter, compared to $136.2 million a year ago.

•Total strategic partnership loans held as of March 31, 2026 were $10.8 million, compared to $10.5 million a year ago.

•Fees generated from strategic partnerships were $0.8 million for the quarter, compared to $0.7 million in the prior year quarter.

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

Taxi Medallion Lending

•The Company collected $1.7 million of cash on taxi medallion-related assets during the quarter, which resulted in net recoveries and gains of $1.1 million.

•Total net taxi medallion-related assets declined to $3.8 million, a 45% reduction from a year ago, and represented less than 0.2% of the Company’s total assets, as of March 31, 2026.

2

Average Balance Sheet

The following table presents our consolidated average balance sheets, interest income and expense, and the average interest earning/bearing assets and liabilities, and which reflects the average yield on assets and average costs on liabilities as of and for the three months ended March 31, 2026 and 2025.

		Three Months Ended March 31,
		2026												2025
(Dollars in thousands)		Average Balance				Interest				Average Yield/Cost				Average Balance				Interest				Average Yield/Cost
Interest-earning assets
Interest earning cash equivalents		$	35,577			$	268				3.06	%		$	37,291			$	352				3.83	%
Federal funds sold			60,605				859				5.75				46,665				817				7.10
Investment securities			62,200				605				3.94				57,960				519				3.63
Loans
Recreation			1,636,409				54,034				13.39				1,542,323				50,466				13.25
Home improvement			812,577				19,376				9.67				820,012				19,771				9.78
Commercial			120,876				3,449				11.57				112,557				3,098				11.16
Taxi medallion			1,171				59				20.43				1,697				80				19.12
Strategic partnerships			10,066				418				16.84				8,050				322				16.22
Total loans			2,581,099				77,336				12.15				2,484,639				73,737				12.04
Total interest-earning assets, before allowance			2,739,481								11.70				2,626,555								11.65
Allowance for credit losses			(115,560	)											(98,261	)
Total interest-earning assets, net of allowance		$	2,623,921			$	79,068				12.21	%		$	2,528,294			$	75,425				12.10	%
Non-interest-earning assets
Cash			59,936												65,941
Equity investments			8,099												9,117
Loan collateral in process of foreclosure			6,972												9,547
Goodwill and intangible assets			168,325												169,770
Other assets			57,196												56,616
Total non-interest-earning assets			300,528												310,991
Total assets		$	2,924,449											$	2,839,285
Interest-bearing liabilities
Deposits		$	2,126,975			$	20,736				3.95	%		$	2,093,173			$	19,617				3.80	%
Privately placed notes			130,875				2,902				8.99				146,500				3,175				8.79
SBA debentures and borrowings			79,250				867				4.44				67,813				660				3.95
Trust preferred securities			33,000				504				6.19				33,000				561				6.89
Total interest-bearing liabilities			2,370,100				25,009				4.28				2,340,486				24,013				4.16
Non-interest-bearing liabilities
Deferred tax liability			19,480												20,510
Other liabilities (1)			25,583												33,036
Total non-interest-bearing liabilities			45,063												53,546
Total liabilities			2,415,163												2,394,032
Non-controlling interest			100,013												69,166
Total stockholders’ equity			409,273												376,087
Total liabilities and stockholders’ equity		$	2,924,449											$	2,839,285
Net interest income						$	54,059											$	51,412
Net interest margin, gross											8.00												7.94
Net interest margin, net of allowance											8.35	%											8.25	%

(1)Includes deferred financing costs of $8.2 and $8.1 million as of March 31, 2026 and 2025.

3

Loan Portfolio

The following table provides information regarding the composition of our loan portfolio for the dates presented:

		March 31, 2026								December 31, 2025								March 31, 2025
(Dollars in thousands)		Amount				As a Percent of Total Loans				Amount				As a Percent of Total Loans				Amount				As a Percent of Total Loans
Loans held for investment:
Recreation		$	1,671,538				64	%		$	1,617,221				63	%		$	1,431,610				58	%
Home improvement			814,933				31				810,237				32				812,381				33
Commercial			119,612				5				123,068				5				116,059				5
Taxi medallion			1,126			*					1,179			*					1,650			*
Total loans			2,607,209				100				2,551,705				100				2,361,700				95
Loans held for sale, at lower of amortized cost or fair value:
Recreation			—				—				—				—				114,234				5
Strategic partnership			10,786			*					15,144			*					10,499			*
Total loans held for sale, at lower of amortized cost or fair value			10,786				—				15,144				—				124,733				5
Total loans and loans held for sale		$	2,617,995				100	%		$	2,566,849				100	%		$	2,486,433				100	%

(*) Less than 1%.

Balance Sheet

•Cash and cash equivalents, including investment securities, as of March 31, 2026, were $206.6 million, compared to $218.4 million as of March 31, 2025.

•As of March 31, 2026, total assets were $2.950 billion, up from $2.848 billion as of March 31, 2025.

•As of March 31, 2026, total liabilities were $2.443 billion, up from $2.399 billion as of March 31, 2025.

Capital Allocation

Quarterly Dividend

•The Board of Directors declared a quarterly dividend of $0.14 per share, payable on May 21, 2026, to stockholders of record at the close of business on May 11, 2026.

Dividends Announced		Amount Per Share				Record Date		Payment Date
Q2 2026		$	0.14			5/11/2026		5/21/2026
Q1 2026			0.12			3/19/2026		3/31/2026
Total: Year 2026 (Year to Date)			0.26
Total: Year 2025			0.47
Total: Year 2024			0.41
Total: Year 2023			0.34
Total: Year 2022 *			0.32

(*) Dividend reinstated in Q1 2022.

Stock Repurchase Plan

•During the quarter ended March 31, 2026, the Company did not repurchase any shares of its common stock.

•As of March 31, 2026, the Company had $14.4 million remaining under its $40 million stock repurchase program.

4

Conference Call Information

The Company will host a conference call to discuss its first quarter financial results tomorrow, Thursday, April 30, 2026, at 9:00 a.m. Eastern time.

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

How to Participate

•Date: Thursday, April 30, 2026

•Time: 9:00 a.m. Eastern time

•Dial-in number: (877) 407-4018 or (201) 689-8471

•Live webcast: Link to Webcast of 1Q26 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, May 7, 2026

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

•Passcode: 1375 9966

Additionally, the webcast replay will 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 (replacement roofs, swimming pools, 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, please visit www.medallion.com.

Forward-Looking Statements

Please note that 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 our growth strategy. These statements are often, but not always, made using words or phrases such as “will” and “continue” or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These statements relate to future public announcements of our earnings, expectations regarding our loan portfolio, including collections on our 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 the actual impacts may differ, possibly materially, from what is reflected in those forward-looking 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, for a description of certain risks to which Medallion is or may be subject, please refer to the factors discussed under the heading “Risk Factors” in Medallion’s 2025 Annual Report on Form 10-K.

Investor Relations

InvestorRelations@medallion.com

212-328-2176

Investor Relations

The Equity Group Inc.

Lena Cati

lcati@theequitygroup.com

(212) 836-9611

Val Ferraro

vferraro@theequitygroup.com

(212) 836-9633

5

MEDALLION FINANCIAL CORP.

CONSOLIDATED BALANCE SHEETS

(UNAUDITED)‌

		(Unaudited)								(Unaudited)
(Dollars in thousands, except share and per share data)		March 31, 2026				December 31, 2025				March 31, 2025
Assets
Cash, cash equivalents, and federal funds sold		$	138,649			$	201,564			$	157,994
Investment securities			67,934				60,183				60,424
Equity investments			8,099				8,099				8,997
Loans held for sale, at lower of amortized cost or fair value			10,786				15,144				124,733
Loans			2,607,209				2,551,705				2,361,700
Allowance for credit losses			(116,696	)			(114,789	)			(100,366	)
Net loans receivable			2,490,513				2,436,916				2,261,334
Goodwill and intangible assets, net			168,143				168,504				169,588
Property, equipment, and right-of-use lease asset, net			19,261				11,861				12,814
Accrued interest receivable			10,999				19,401				14,437
Loan collateral in process of foreclosure			6,418				7,333				9,183
Other assets			29,684				26,459				28,234
Total assets		$	2,950,486			$	2,955,464			$	2,847,738
Liabilities
Deposits		$	2,128,568			$	2,084,265			$	2,022,828
Long-term debt			214,159				215,987				199,665
Short-term borrowings			44,500				95,250				111,750
Deferred tax liabilities, net			21,217				19,596				21,538
Operating lease liabilities			4,489				5,041				4,528
Accrued interest payable			5,635				6,319				6,610
Accounts payable and accrued expenses			24,405				20,960				31,807
Total liabilities			2,442,973				2,447,418				2,398,726
Total stockholders’ equity			408,084				408,617				380,224
Non-controlling interest in consolidated subsidiaries			99,429				99,429				68,788
Total equity			507,513				508,046				449,012
Total liabilities and equity		$	2,950,486			$	2,955,464			$	2,847,738
Number of shares outstanding			23,864,438				23,311,683				23,235,030
Book value per share		$	17.10			$	17.53			$	16.36

6

MEDALLION FINANCIAL CORP.‌

CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)‌

		Three Months Ended March 31,
(Dollars in thousands, except share and per share data)		2026				2025
Total interest income		$	79,068			$	75,425
Total interest expense			25,009				24,013
Net interest income			54,059				51,412
Provision for credit losses			22,476				22,014
Net interest income after provision for credit losses			31,583				29,398
Other income
Gain on equity investments, net			313				9,430
Gain on taxi medallion assets, net			1,099				843
Strategic partnership fees			823				685
Other income			173				641
Total other income, net			2,408				11,599
Other expenses
Salaries and employee benefits			11,000				9,993
Loan servicing fees			3,537				2,817
Collection costs			1,937				1,739
Professional fee costs, net			1,252				1,750
Regulatory fees			979				821
Rent expense			697				675
Depreciation			632				618
Amortization of intangible assets			361				361
Director compensation			432				190
Other expenses			1,547				1,794
Total other expenses			22,374				20,758
Income before income taxes			11,617				20,239
Income tax provision			4,328				6,713
Net income			7,289				13,526
Less: income attributable to the non-controlling interest			2,336				1,512
Net income attributable to Medallion Financial Corp.		$	4,953			$	12,014
Basic net income per share		$	0.21			$	0.53
Diluted net income per share		$	0.20			$	0.50
Weighted average common shares outstanding
Basic			23,059,744				22,570,797
Diluted			24,545,801				23,897,167
Dividends declared per common share		$	0.14			$	0.12

7

FAQ

How did Medallion Financial Corp. (MFIN) perform in Q1 2026?

Medallion Financial reported net income attributable to stockholders of $5.0 million, or $0.20 per diluted share, for Q1 2026. A year earlier it earned $12.0 million, or $0.50 per diluted share, which included a much larger $9.4 million equity investment gain.

How did Medallion Financial’s net interest income and margins change in Q1 2026?

Net interest income rose 5% to $54.1 million in Q1 2026 from $51.4 million a year earlier. Net interest margin on gross loans was 8.00%, and on net loans 8.35%, both slightly higher than the prior-year quarter’s levels.

What loan growth did Medallion Financial (MFIN) report for Q1 2026?

Total loan originations grew 34% year over year to $376.9 million in Q1 2026. The loan portfolio, including loans held for sale, reached $2.618 billion as of March 31, 2026, up from $2.486 billion a year earlier, driven mainly by recreation and home improvement lending.

What were the key credit quality and provision figures for Medallion Financial in Q1 2026?

The credit loss provision was $22.5 million, close to the prior year’s $22.0 million. Recreation loans 90 days or more past due were $9.2 million or 0.57% of that portfolio, while home improvement loans 90 days or more past due were $1.4 million or 0.17%.

What did Medallion Financial report about taxi medallion-related assets in Q1 2026?

The company collected $1.7 million of cash on taxi medallion-related assets, generating $1.1 million of net recoveries and gains in Q1 2026. Total net taxi medallion-related assets declined to $3.8 million, about 45% lower than a year earlier and under 0.2% of total assets.

What dividend did Medallion Financial Corp. (MFIN) declare for Q2 2026?

The board declared a quarterly dividend of $0.14 per share for Q2 2026. It will be paid on May 21, 2026 to stockholders of record as of May 11, 2026, following a $0.12 dividend for Q1 2026.

What is Medallion Financial’s book value per share and equity position as of March 31, 2026?

Book value per share was $17.10 as of March 31, 2026, compared with $16.36 a year earlier. Total stockholders’ equity was $408.1 million, and including non-controlling interests, total equity reached $507.5 million at quarter-end.

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