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Medallion Bank Selects LoanPro


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 numb ....

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Medallion Financial : May 3, 2021 (PDF File) Medallion Financial Corp. Reports First Quarter 2021 Results


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. ....

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(MFIN) - Medallion Financial: Q1 Earnings Insights


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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TrueNorth Announces Partnership With LoanPro


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TrueNorth, a global fintech software development company, today announced its new partnership with LoanPro, a SaaS loan servicing/management software company which empowers tech-forward lenders through automation and data visibility. This new partnership offers financial institutions a direct path for implementing LoanPro’s enterprise-ready lending platform by using TrueNorth’s proven software development process and expert engineers.
Rhett Roberts, CEO of LoanPro states, “We are excited to be partnering with TrueNorth to offer a seamless onboarding experience, purchase through migration, of LoanPro’s Loan Management System (LMS). We see TrueNorth’s reliable software migration process as the best way for financial institutions to select our LMS and immediately migrate to their core system.” ....

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