Medallion Financial Q2 net income rises to $14.2M ($0.62/sh); net interest income up 20%

MEDALLION FINANCIAL CORP

2023-Q2 EPS reported $1.29

Net income $14.2M ($0.62 EPS) vs $13.3M ($0.54) a year ago; net interest income grew 20% to $46.7M.
Total assets hit record $2.5B, up 19% YoY; loan portfolio exceeded $2B for first time.
Loan originations $346M vs $305M; recreation lending $190M, home improvement $117M.
Credit loss provision increased to $8.5M from $7.8M; net interest margin on net loans 8.77% vs 9.07%.
Declared quarterly cash dividend of $0.08/share payable Aug 31, record Aug 15; medallion assets fell to $17.7M.

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 0.92

MEDALLION FINANCIAL CORP reported the quarter ended June 30, 2023 results: net income $14.2 million, or $0.62 per share, EPS $0.62 per share.

Period: the quarter ended June 30, 2023
Net income: $14.2 million, or $0.62 per share
EPS: $0.62 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 June 30, 2023.

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MEDALLION FINANCIAL CORP filing history →

Source: SEC EDGAR

accession 0001193125-23-192248

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