Medallion Financial Corp. · NASDAQ:MFIN
Medallion Financial — Q4 2025 Earnings Presentation
16 slides from Medallion Financial's earnings presentation, Feb 19, 2026
Slide 1: Fourth Quarter 2025 Earnings Supplement
FOURTH QUARTER 2025 EARNINGS SUPPLEMENT RECREATION February 18, 2026 HOME IMPROVEMENT NASDAQ: MFIN COMMERCIAL FINTECH A specialty finance company that originates and services loans in various consumer and commercial industries, along with offering loan origination services to fintech strategic partn
Slide 2: Important Information
Important Information This presentation contains certain forward-looking statements, including statements with regard to the future performance of Medallion Financial Corp. (“MFIN” or the “Company”). Words such as “believes,” “expects,” “projects,” “anticipates” and “future” or similar expressions a
Slide 3: Company Snapshot – 4Q25
Company Snapshot – 4Q25 Primary Business Lines Other Businesses Our Differentiation Consumer Lending – Recreation Strategic Partnership Program Net Interest Margin • $1,617.2M of loans • New partnerships to grow • 8.04% on gross loans • $97.2M loan originations originations • 8.39% on net loans • 15
Slide 4: Loan Portfolio Growth and Mix Optimization
Loan Portfolio Growth and Mix Optimization 12/31/25 vs. Loan Portfolio 12/31/24 9/30/25 12/31/25 Type of Loan 12/31/24 at 12/31/25 $ in millions % $ in millions % $ in millions % % change Recreation(1) $1,543.2 62.0% $1,603.2 62.6% $1,617.2 63.0% +4.8% Home Improvement $827.2 33.2% $804.0 31.4% $810
Slide 5: Loan Portfolio
Loan Portfolio (1) Loan Balance ($ in millions) $2,559 $2,567 $2,600 $2,485 $2,491 $2,486 $2,485 $2,386 $2,400 $2,203 $2,216 $2,228 $2,200 $2,157 $1,984 $2,000 $1,917 $1,856 $1,800 $1,735 $1,600 $1,569 $1,400 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 (1) Include
Slide 6: Origination Activity
Origination Activity Loan Originations FY 2025: $1,505.4 ($ in millions) FY 2024: FY 2022: FY 2023: $1,043.5 $450.0 $983.9 $960.0 $400.0 $350.0 $300.0 $250.0 $200.0 $150.0 $100.0 $50.0 $0.0 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 Recreation Home Improvement Co
Slide 7: Financial Performance
Financial Performance Net Interest Income Net Interest Income Quarterly Performance ($ in millions) ($ in millions) $250.0 $60.0 $56.4 $216.9 $55.7 $202.5 $55.0 $53.4 $200.0 $188.1 $52.7 $52.0 $51.4 $49.9 $160.4 $50.0 $48.8 $49.0 $47.9 $46.7 $150.0 $45.0 $43.6 $43.6 $42.0 $100.0 $40.0 $38.9 $35.9 $5
Slide 8: Financial Performance
Financial Performance (1) (1) Net Income Net Income Quarterly Performance ($ in millions) ($ in millions) $20.0 $60.0 $55.1 $15.4 $50.0 $15.0 $14.2 $14.3 $43.8 $43.0 $13.3 $13.1 $12.0 $12.2 $40.0 $11.2 $11.1 $35.9 $9.8 $10.0 $10.1 $10.0 $30.0 $8.6 $7.6 $7.8 $7.1 $20.0 $5.0 $10.0 $0.0 $0.0 1Q22 2Q22
Slide 9: Driving Net Interest Income
Driving Net Interest Income Interest Income vs. Interest Expense ($ in millions) 90.0 ($ in millions) 4Q 24 4Q 25 80.0 70.0 Interest income $76.5 $81.7 60.0 Interest expense 24.5 25.3 50.0 Interest income, net $52.0 $56.4 Net Interest Income Interest Income 40.0 Net interest margin – gross 7.84% 8.0
Slide 10: Net Charge-Off (NCO) Activity
Net Charge-Off (NCO) Activity 4Q 2025 FY 2025 ($ in millions) Charge-Off Recovery NCO NCO % ($ in millions) Charge-Off Recovery NCO NCO % Recreation (1) $22.1 $4.2 $17.9 4.4% Recreation (1) $75.5 $16.4 $59.1 3.8% Home Improvement 3.6 1.4 2.2 1.1% Home Improvement 16.6 5.4 11.2 1.4% Commercial 3.9 ⎯
Slide 11: Resilience of Consumer Lending Segments
Resilience of Consumer Lending Segments Medallion Bank Consumer Loan Net Charge-offs as a Percentage of Total Consumer Portfolio 10.00% Managed profitably through the Great ◼ Added Home Improvement Prime Credit Lending Segment in 2012 Recession and returned to pre-Recession ◼ Increased average FICO
Slide 12: Strong Consumer Loan Economics
Strong Consumer Loan Economics Illustrative/Sample Recreation Lending Return for a New Incremental $20,000 Loan $3,040 15.2% $3,000 Equity $17,000 Deposits $1,118 / $3,000 ($658) 3.87% ($790) $1,118 3.95% ($474) 2.37% 37% Pretax ROE Loan Interest Loan Operating Pretax Yield Costs Losses Expenses Pro
Slide 13: Performance and Shareholder Value
Performance and Shareholder Value Book value per share has exhibited steady growth, reflecting a strengthening of equity base Net Income vs Book Value per Share(1) Net Income Book Value/Share ($ in millions) $18.0 $20 $16.0 $18 $14.0 $16 $14 $12.0 $12 $10.0 $10 $8.0 $8 $6.0 $6 $4.0 $4 $2.0 $2 $0.0 $
Slide 14: Focus on Enhanced Operating Efficiency
Focus on Enhanced Operating Efficiency Quarterly Net Interest Income (NII) vs. Operating Costs(1) ($ in FY FY FY FY FY FY ($ in millions) millions) 2020 2021 2022 2023 2024 2025 60,000 NII $110.8 $127.8 $160.4 $188.1 $202.5 $216.9 55,000 Operating 50,000 $55.7 $56.4 $72.1 $75.6 $74.4 $85.2 Costs(1)
Slide 15: Dividend History
Dividend History Quarterly Dividend • Reinstated quarterly $0.14 dividend in Q1 2022. $0.12 $0.12 $0.12 $0.12 $0.12 $0.11 $0.11 • Increased 50% since $0.10 $0.10 $0.10 $0.10 $0.10 it was reinstated. $0.08 $0.08 $0.08 $0.08 $0.08 $0.08 $0.08 $0.08 • Annualized dividend $0.06 yield of 4.7% (based on M
Slide 16: Contact Us
Contact Us Medallion Financial Corp. Investor Relations The Equity Group Inc. InvestorRelations@medallion.com Lena Cati (212) 328-2176 lcati@theequitygroup.com (212) 836-9611 Val Ferraro vferraro@theequitygroup.com (212) 836-9633