Medallion Bank Q4 net income falls to $15.6M; full-year profit down 24%

MEDALLION FINANCIAL CORP

2024-FY EPS reported $1.52

Q4 net income $15.6M vs $21.9M YoY; full-year net income $60.6M vs $79.9M.
Net interest income rose to $53.1M (Q4) and $204.7M (full year), up 8% and 8.4%.
Total provision for credit losses surged to $20.5M (Q4) and $75.8M (full year).
Signed LOI to sell up to $121M recreation loans at premium; $3.9M allowance released.
Series F preferred dividend declared: $0.50/share payable Apr 1, 2025 to record Mar 17.

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