MEDALLION FINANCIAL CORP
For the period ended Dec 31, 2025. Filed Mar 10, 2026.
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FY2025 · Filed Mar 10, 2026
MFIN$9.42-2.8%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations for the Years Ended
| Year Ended December 31, | |||
|---|---|---|---|
| (Dollars in thousands, except share and per share data) | 2025 | 2024 | 2023 |
| Interest and fees on loans | $308,066 | $283,316 | $244,829 |
| Non-loan interest and dividend income | 7,254 | 7,386 | 6,211 |
| Total interest income | 315,320 | 290,702 | 251,040 |
| Interest on deposits | 80,361 | 70,504 | 47,780 |
| Interest on long-term debt | 15,226 | 17,091 | 12,670 |
| Interest on short-term borrowings | 2,840 | 572 | 2,496 |
| Total interest expense (1) | 98,427 | 88,167 | 62,946 |
| Net interest income | 216,893 | 202,535 | 188,094 |
| Provision for credit losses | 89,822 | 76,502 | 37,810 |
| Net interest income after provision for credit losses | 127,071 | 126,033 | 150,284 |
| Other income | |||
| Gain on equity investments, net | 24,552 | 6,917 | 5,178 |
| Gain on taxi medallion assets, net | 4,632 | 884 | 3,296 |
| Strategic partnership fees | 3,621 | 1,781 | 2,064 |
| Gain on sale of recreation loans held for sale | 1,304 | — | — |
| Other income | 3,884 | 1,748 | 782 |
| Total other income, net | 37,993 | 11,330 | 11,320 |
| Other expenses | |||
| Salaries and employee benefits | 41,664 | 38,344 | 37,562 |
| Loan servicing fees | 11,500 | 10,771 | 9,543 |
| Collection costs | 6,681 | 6,380 | 6,000 |
| Regulatory fees | 3,634 | 3,795 | 3,194 |
| Professional fee costs (benefits), net | 5,005 | (1,372) | 5,886 |
| Rent expense | 2,789 | 2,682 | 2,472 |
| Amortization of intangible assets | 1,445 | 1,445 | 1,445 |
| Penalties | — | 3,000 | — |
| Other expenses | 12,461 | 9,382 | 9,466 |
| Total other expenses | 85,179 | 74,427 | 75,568 |
| Income before income taxes | 79,885 | 62,936 | 86,036 |
| Income tax provision | 24,544 | 21,011 | 24,910 |
| Net income after taxes | 55,341 | 41,925 | 61,126 |
| Less: income attributable to the non-controlling interest | 8,782 | 6,047 | 6,047 |
| Less: redemption of Series F preferred stock - funds paid in excess of carrying value | 3,515 | — | — |
| Net income attributable to Medallion Financial Corp. | $43,044 | $35,878 | $55,079 |
| Basic earnings per share | $1.89 | $1.59 | $2.45 |
| Diluted earnings per share | $1.78 | $1.52 | $2.37 |
| Weighted average common shares outstanding | |||
| Basic | 22,774,561 | 22,546,051 | 22,510,435 |
| Diluted | 24,247,788 | 23,605,493 | 23,248,323 |
(1)
Average borrowings outstanding were$2.3 billion,$2.2 billion and$2.0 billion as of December 31, 2025, 2024, and 2023 and the related average borrowing costs were 4.22%,3.93%, and 3.16% for the years ended December 31, 2025, 2024, and 2023.
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