Business
Medallion Bank Reports 2025 Third Quarter Results and Declares Series G Preferred Stock Dividend
SALT LAKE CITY, Oct. 29, 2025 (GLOBE NEWSWIRE) -- Medallion Bank (Nasdaq: MBNKO, the “Bank”), an FDIC-insured bank providing consumer loans for the purchase
About this update from Medallion Financial Corp.
[{"type":"text","content":"SALT LAKE CITY, Oct. 29, 2025 (GLOBE NEWSWIRE) -- Medallion Bank (Nasdaq: MBNKO, the “Bank”), an FDIC-insured bank providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners, announced today its results for the quarter ended September 30, 2025. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN). 2025 Third Quarter Highlights Net income of $19.8 million, compared to $15.5 million in the prior year quarter.Net interest income of $55.9 million, compared to $53.2 million in the prior year quarter. Total non-interest income of $2.3 million, compared to $0.6 million in the prior year quarter.Net interest margin of 8.64%, compared to 8.44% in the prior year quarter.Total provision for credit losses was $17.2 million, compared to $20.2 million in the prior year quarter.Annualized net charge-offs were 2.28% of average loans outstanding, compared to 2.31% in the prior year quarter.Annualized return on assets and return on equity were 3.08% and 17.77%, respectively, compared to 2.47% and 16.72%, respectively, for the prior year period.The total loan portfolio size was $2.3 billion as of September 30, 2025 and $2.4 billion as of September 30, 2024.Total assets were $2.6 billion and the Tier 1 leverage ratio was 17.5% at September 30, 2025.The Series F preferred stock was redeemed on July 1, 2025, reducing capital by $46 million in the quarter following the Series G preferred stock offering in the quarter ended June 30, 2025. Donald Poulton, President and Chief Executive Officer of Medallion Bank, stated, “Earnings grew to $19.8 million in the third quarter, reflecting the resumption of recreation loan growth and stable home improvement and recreation loan performance. Recreation loan volumes were up over the prior year quarter, and strategic partnership loan originations reached a record $208 million in the quarter. Home improvement origination volume continued to be down compared to the prior year quarter, but increased home improvement project activity has been encouraging and should materialize in higher origination volume as those projects are completed and funded. Charge-offs fell from the prior year quarter, driven by a sharp decrease in home improvement losses. The quarterly increase in delinquency ...