Medallion Financial Q3 net income falls to $7.6M from $15.9M; originations up 40%

MEDALLION FINANCIAL CORP

2022-Q3 EPS reported $1.26

Net income $7.6M ($0.32 diluted EPS) vs $15.9M ($0.64) a year ago; loan loss provision $10.0M vs benefit of $0.3M.
Net interest income grew 23% to $42.0M; net interest margin narrowed to 8.91% from 9.48%.
Consumer loan originations up 33% to $249.6M; recreation loans +25%, home improvement +44% YoY.
Commercial segment incurred $3.2M in provisions and equity losses; medallion exposure declined to $27.6M.
Company repurchased 1.05M shares for $8.2M; declared $0.08 quarterly dividend payable Nov 30.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MEDALLION FINANCIAL CORP reported the quarter ended September 30, 2022 results: net income $7.6 million, or $0.32 per share, EPS $0.32 per share.

Period: the quarter ended September 30, 2022
Net income: $7.6 million, or $0.32 per share
EPS: $0.32 per share
Result: reported results

Exact text from the filing

Medallion Financial Corp. (the “Company”), issued a press release to the news media announcing, among other things, the Company’s results for the quarter ended September 30, 2022.

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Source: SEC EDGAR

accession 0001193125-22-270968

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