secwatch.observer — SEC 8-K summary
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Issuer:     MEDALLION FINANCIAL CORP (MFIN)
CIK:        0001000209
Form:       8-K
Filed at:   2024-01-30T23:59:59+00:00
Accession:  0000950170-24-008864
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Medallion Bank reports record Q4 net income $21.9M, full-year $79.9M; loan portfolio grows 15%
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- Q4 net income $21.9M vs $19.7M prior year; full-year net income $79.9M vs $74.6M in 2022.
- Net interest margin 8.62% for Q4 (down from 9.19%); total loan portfolio grew 15% to $2.1B.
- Recreation loan portfolio $1.336B (+13%); annualized net charge-offs 4.2% (up from 2.4%).
- Home improvement loan portfolio $760.6M (+21%); annualized net charge-offs 1.7% (up from 1.1%).
- Medallion loan recoveries $12.0M in Q4 reduced provision by 226 bps; declared Series F preferred dividend $0.50/share payable Apr 1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1000209/000095017024008864/0000950170-24-008864-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1000209/000095017024008864/mfin-20240130.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-008864

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