Medallion Bank Reports 2021 Second Quarter Results and Declares Series F Preferred Stock Dividend
July 30, 2021 16:01 ET | Source: Medallion Financial Medallion Financial New York, New York, UNITED STATES
SALT LAKE CITY, July 30, 2021 (GLOBE NEWSWIRE) Medallion Bank (Nasdaq: MBNKP, “the Bank”), an FDIC-insured bank providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech partners, announced today its 2021 second quarter results. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN).
2021 Second Quarter Highlights
Record quarterly net income of $17.5 million compared to net income of $1.8 million in the prior year period.
Medallion Bank Reports 2021 Second Quarter Results and Declares Series F Preferred Stock Dividend
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Medallion Bank Selects LoanPro
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SALT LAKE CITY, May 27, 2021 /PRNewswire/ Medallion Bank (Nasdaq: MBNKP), (MBNKP or the Bank ), an FDIC-insured bank providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech partners, has announced its partnership with LoanPro, a tech-forward loan servicing software company. Medallion Bank now combines its recreation and home improvement consumer finance loan origination capability with LoanPro s proven lending platform, which empowers lenders through workflow automation and improved data visibility.
Medallion Bank
Donald Poulton, President & Chief Executive Officer of Medallion Bank said, As we expand the Bank s digital lending capabilities, LoanPro demonstrated a clear advantage to help us drive speed of service and efficiency with our loan servicing. This will allow us to continue to grow the number of loans we ser
MEDALLION FINANCIAL CORP. REPORTS 2021 FIRST QUARTER RESULTS NEW YORK, NY - May 3, 2021 - Medallion Financial Corp. (NASDAQ: MFIN, Medallion Financial or the Company ), a finance company that originates and services loans in various consumer and commercial niche industries, announced today its 2021 first quarter results. 2021 First Quarter Highlights Net income was $8.4 million, or $0.34 per share, compared to a net loss of $13.6 million, or $0.56 per share, in the prior year quarter. Net interest income was $28.7 million in the quarter, primarily reflecting the contribution of the consumer lending segments, compared to $26.5 million in the 2020 quarter. Net interest margin was 9.18% in the quarter. Net income from the Company s consumer and commercial lending segments increased to $15.1 million in 2021, compared to $4.3 million a year ago.
Quarterly Results
Earnings per share increased 151.79% year over year to $0.29, which beat the estimate of $0.19.
Revenue of $30,610,000 rose by 56.48% from the same period last year, which beat the estimate of $30,030,000.
Price Action
52-week low: $1.80
Company Profile
Medallion Financial Corp is a finance company that originates and services loans in various industries, and its wholly owned subsidiary, Medallion Bank, also originates and services consumer loans. Medallion Financial Corp has lent more than $9 billion since its initial public offering.
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