Medallion Bank Reports 2026 First Quarter Results and Declares Series G Preferred Stock Dividend

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 March 31, 2026. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN). 2026 First Quarter Highlights Net income of $13.0 million, compared to $15.6 million in the prior year quarter.Net income attributable to common shareholder of $10.7 million, compared to $14.1 million in the prior year quarter.Net interest income of $54.6 million, compared to $52.2 million in the prior year quarter. Total non-interest income of $1.1 million, compared to $1.7 million in the prior year quarter.Net interest margin of 8.39%, compared to 8.35% in the prior year quarter.Recreation loan originations grew 64% from the prior year quarter to $142.5 million, and the loan portfolio grew 17% to $1.7 billion.Home Improvement loan originations grew 32% from the prior year quarter to $64.4 million, and the loan portfolio grew less than 1% to $814.9 million.Strategic partnership loan originations grew 25% from the prior year quarter to $170.0 million.Total provision for credit losses was $22.1 million, compared to $19.0 million in the prior year quarter.Annualized net charge-offs were 3.40% of average loans outstanding, compared to 3.41% in the prior year quarter.Annualized return on assets and return on equity were 2.03% and 11.93%, respectively, compared to 2.51% and 16.49%, respectively, for the prior year period.Total assets were $2.6 billion and the Tier 1 leverage ratio was 17.4% at March 31, 2026. Series G Preferred Stock Dividend On April 28, 2026, the Bank’s Board of Directors declared a quarterly cash dividend of $0.5625 per share on the Bank’s Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G, which trades on the Nasdaq Capital Market under the ticker symbol “MBNKO.” The dividend is payable on July 1, 2026, to holders of record at the close of business on June 15, 2026. Other Information Beginning this quarter, the Bank has updated the format of its earnings press release. The Bank’s quarterly and annual filings with the FDIC are available in the Investor Relations section of the Bank’s website.... Read more

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