Medallion Financial Corp. · NASDAQ:MFIN
Medallion Financial — Q1 2025 Earnings Presentation
15 slides from Medallion Financial's earnings presentation, May 1, 2025
Slide 1: First Quarter 2025 Earnings Supplement – April 30, 2025
FIRST QUARTER 2025 EARNINGS SUPPLEMENT – APRIL 30, 2025
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 – 1Q25
Company Snapshot – 1Q25 Primary Business Lines Other Businesses Our Differentiation Consumer Lending – Recreation Taxi Medallion Lending Net Interest Margin • $1.5B of loans • Net assets of $6.8M • 7.94% on gross loans • $86.8M loan originations • $2.6M of cash collections • 8.25% on net loans • 15.
Slide 4: Loan Portfolio Growth and Mix Optimization
Loan Portfolio Growth and Mix Optimization Loan Portfolio at 3/31/25 (All $ amounts in millions) 3/31/25 vs. Type of Loan 3/31/24 12/31/24 3/31/25 3/31/24 Recreation(1) $1,365 (61%) $1,543 (62%) $1,545 (62%) +13% Home Home Improvement $752 (34%) $827 (33%) $812 (33%) +8% Improvement Commercial $107
Slide 5: Loan Portfolio Growth
Loan Portfolio Growth (1) Loan Balance ($ in millions) $2,485 $2,491 $2,486 $2,386 $2,400 $2,216 $2,228 $2,203 $2,200 $2,157 $1,984 $2,000 $1,917 $1,856 $1,800 $1,735 $1,600 $1,569 $1,400 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 (1) Includes both loans held for investment and
Slide 6: Origination Activity
Origination Activity Loan Originations ($ in millions) $350.0 $300.0 $250.0 $200.0 $150.0 $100.0 $50.0 $0.0 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 Recreation Home Improvement Commercial Other Strategic Partnership Medallion Financial Corp. Quarterly Earnings Supplement 6
Slide 7: Financial Performance – Net Interest Income
Financial Performance Net Interest Income ($ in millions) $55.0 $52.7 $52.0 $51.4 $49.9 $50.0 $48.8 $49.0 $47.9 $46.7 $45.0 $43.6 $43.6 $42.0 $40.0 $38.9 $35.9 $35.0 $30.0 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 Medallion Financial Corp. Quarterly Earnings Supplement 7
Slide 8: Financial Performance – Net Income
Financial Performance Net Income ($ in millions) (1) $20.0 $15.4 $15.0 $14.2 $14.3 $13.3 $13.1 $12.0 $11.2 $9.8 $10.0 $10.1 $10.0 $8.6 $7.6 $7.1 $5.0 $0.0 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 (1) Reflects Net Income Attributable to Medallion Financial Corp. Medallion Fina
Slide 9: Driving Net Interest Income
Driving Net Interest Income Interest Income vs. Interest Expense ($ in millions) 1Q 24 1Q 25 80.0 70.0 Interest income $67.1 $75.4 60.0 Interest expense 19.2 24.0 Interest income, net $47.9 $51.4 50.0 Net Interest Income 40.0 Net interest margin – gross 8.10% 7.94% Interest Income Net interest margi
Slide 10: Net Charge-Off (NCO) Activity
Net Charge-Off (NCO) Activity 1Q 2025 ($ in millions) Charge-Off Recovery NCO NCO % Recreation $20.3 $3.9 $16.4 4.7% Home Improvement 4.2 1.1 3.1 1.6% Commercial 0.1 0.1 0.5% Taxi Medallion * 0.7 (0.7) NM Total $24.6 $5.6 $19.0 3.1% 1Q 2024 ($ in millions) Charge-Off Recovery NCO NCO % Recreation
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 Managed profitably through the Great Recession and returned to pre-Recession levels by the end of 2011 Added Home Improvement Prime Credit Lending Segment in 2012 Incr
Slide 12: Performance and Shareholder Value
Performance and Shareholder Value Net Income ($ in millions) and Book Value per Share ($ per share) (1) Net Income Book Value/Share $18.0 $18 $16.0 $16 $14.0 $14 $12.0 $12 $10.0 $10 $8.0 $8 $6.0 $6 $4.0 $4 $2.0 $2 $0.0 $0 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 Net Income BV
Slide 13: Focus on Enhanced Operating Efficiency
Focus on Enhanced Operating Efficiency Quarterly Net Interest Income (NII) vs. Operating Costs(1) ($ In 000’s) ($ in FY FY FY FY FY YTD millions) 2020 2021 2022 2023 2024 1Q25 60,000 NII $110.8 $127.8 $160.4 $188.1 $202.5 $51.4 55,000 Operating 50,000 $55.7 $56.4 $72.1 $75.6 $74.4 $20.8 Costs(1) 45,
Slide 14: MFIN Capital Structure
MFIN Capital Structure Equity and Borrowings ($ in millions) 700.0 $619 $629 $584 600.0 $510 $525 500.0 $441 60% 60% 400.0 59% 56% 58% 52% 300.0 200.0 12% 11% 11% 17% 13% 13% 100.0 30% 29% 29% 31% 30% 29% 0.0 12/31/20 12/31/21 12/31/22 12/31/23 12/31/24 3/31/25 Medallion Financial Borrowings Non-Con
Slide 15: Thank You
Thank You. InvestorRelations@medallion.com (212) 328-2176 Building on a legacy of experience, diversification, and success