Medallion Financial Corp. uses SEC filings to document operating results, subsidiary disclosures, financing arrangements, and capital-structure events for its specialty finance business. Recent Form 8-K filings furnish quarterly and annual results, including net interest income, loan originations, credit provisions, dividends, and related financial metrics for the company and Medallion Bank.
The filing record also covers material debt transactions, including senior unsecured notes, repayment of privately placed notes, and direct financial obligation disclosures. Other reports address SBA debenture financing matters at Medallion Capital, registered common stock on the Nasdaq Global Select Market, Regulation FD disclosures, exhibits, and material agreements affecting the company’s borrowing profile and governance record.
BIMIZCI Fund LLC and affiliated holders announced a proxy solicitation to elect three independent nominees to Medallion Financial Corp.'s board. BIMIZCI states it owns $15,000,000 par value of the Company's trust preferred securities and 500,205 shares of common stock and is soliciting proxies for its BLUE proxy card for the June 9, 2026 annual meeting. The filing and press release cite concerns about financial performance, executive compensation, board composition and tenure, a May 30, 2025 SEC final judgment involving the CEO, and provisions in governing documents.
Medallion Financial Corp. reported lower profitability for the quarter ended March 31, 2026. Net income attributable to the company was $4.95 million, down from $12.01 million a year earlier, and diluted EPS declined to $0.20 from $0.50.
Total assets were broadly stable at $2.95 billion, compared with $2.96 billion at year-end 2025, while loans held for investment rose to $2.61 billion, led by recreation and home improvement lending. Net interest income increased to $54.06 million, but this was offset by a similar level of credit loss provisioning and a sharp drop in gains on equity investments.
Credit quality metrics show nonperforming loans of $36.9 million, or 1.41% of total loans and loans held for sale, with a total allowance for credit losses of $116.70 million. The company remains strongly capitalized at the bank level, with a Tier 1 leverage ratio of 17.4% and total capital ratio of 19.0%, classified as well-capitalized by regulators.
Medallion Financial Corp. is the target of a contested proxy solicitation by BIMIZCI Fund LLC seeking to elect three independent directors at the Company’s virtual Annual Meeting on June 9, 2026. BIMIZCI reports beneficial ownership of 334,834 shares and $15 million par value of trust preferred securities and urges stockholders to vote using its BLUE universal proxy card.
The proxy statement details governance and performance criticisms, cites a Final Judgment in SEC v. Medallion (May 30, 2025) including a $3,000,000 company penalty and a $1,000,000 personal penalty for the CEO, and highlights alleged conflicts of interest around recent leadership changes. BIMIZCI proposes nominees Eric Kelly, John Kiernan and Timothy Shanahan and recommends voting "AGAINST" the Company’s incumbents and the company’s say-on-pay proposal.
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.