secwatch.observer — SEC 8-K summary
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Issuer:     MEDALLION FINANCIAL CORP (MFIN)
CIK:        0001000209
Form:       8-K
Filed at:   2024-04-30T23:59:59+00:00
Accession:  0000950170-24-050529
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Medallion Financial Q1 EPS $0.42 vs $0.67; credit provision soars to $17.2M from $4.0M
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- Net income $10.0M ($0.42 diluted EPS) vs $15.4M ($0.67) in Q1 2023, down 35%.
- Net interest income grew 10% to $47.9M from $43.6M; net interest margin on net loans 8.39%.
- Credit loss provision increased to $17.2M from $4.0M, driven by consumer lending seasonality and lower medallion recoveries.
- Loan originations declined to $173.1M from $227.3M; total loans grew 12% to $2.2B.
- Declared quarterly dividend $0.10/share; repurchased 264,160 shares for $2.1M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1000209/000095017024050529/0000950170-24-050529-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1000209/000095017024050529/mfin-20240430.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-050529

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