secwatch.observer — SEC 8-K summary
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Issuer:     MEDALLION FINANCIAL CORP (MFIN)
CIK:        0001000209
Form:       8-K
Filed at:   2023-01-30T23:59:59+00:00
Accession:  0001193125-23-019106
Event type: earnings
Sentiment:  positive
Materiality: 0.60
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Medallion Bank reports record Q4 net income of $19.7M; loan portfolio grows 28.8% to $1.8B
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- Q4 net income $19.7M vs $19.0M prior year; full-year record net income $74.6M vs $70.0M in 2021.
- Net interest income Q4 $44.4M (NIM 9.2%) vs $37.3M (9.9%); full-year $164.6M (9.4%) vs $136.8M (10.0%).
- Provision for loan losses Q4 $8.4M vs $1.6M; full-year $24.7M vs $3.7M; annualized net charge-offs Q4 1.7% vs 0.3%.
- Recreation loans up 22.6% to $1.2B; home improvement loans up 43.4% to $626.4M as of Dec 31, 2022.
- Adopted CECL on Jan 1, 2023; $11.6M increase in allowance; declared $0.50 Series F preferred dividend payable April 3.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1000209/000119312523019106/0001193125-23-019106-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1000209/000119312523019106/d455061d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-019106

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