Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

Schedule of Segment Data

The following table presents segment data as of and for the three months ended March 31, 2026.


Three Months Ended March 31, 2026		Consumer Lending
(Dollars in thousands)		Recreation				Home Improvement				Commercial Lending				Taxi Medallion Lending				Corporate and Other Investments				Consolidated
Total interest income		$	54,034			$	19,376			$	3,449			$	59			$	2,150			$	79,068
Total interest expense			14,292				7,370				1,392				30				1,925				25,009
Net interest income			39,742				12,006				2,057				29				225				54,059
Provision (benefit) for credit losses			18,445				3,618				459				(46	)			—				22,476
Net interest income after credit loss provision			21,297				8,388				1,598				75				225				31,583
Other income, net			26				7				448				1,117				810				2,408
Other expenses:
Salaries			4,105				2,352				739				701				3,103				11,000
Loan servicing fees, credit, and collection costs			4,290				1,141				—				28				15				5,474
Other costs			2,683				1,378				543				34				1,262				5,900
Total other expenses			11,078				4,871				1,282				763				4,380				22,374
Net income (loss) before taxes			10,245				3,524				764				429				(3,345	)			11,617
Income tax (provision) benefit			(3,817	)			(1,313	)			(310	)			(160	)			1,272				(4,328	)
Net income (loss) after taxes		$	6,428			$	2,211			$	454			$	269			$	(2,073	)		$	7,289
Income attributable to the non-controlling interest																							2,336
Total net income attributable to Medallion Financial Corp.																						$	4,953
Balance Sheet Data
Total loans, gross (1)		$	1,671,538			$	814,933			$	119,612			$	1,126			$	10,786			$	2,617,995
Total assets			1,606,691				802,126				111,561				3,836				426,272				2,950,486
Total funds borrowed (2)			1,304,451				651,235				90,575				3,114				346,085				2,395,460
Selected Financial Ratios
Return on average assets			1.65	%			1.12	%			1.60	%		NM				NM					1.01	%
Return on average stockholders' equity		*				*				*				*				*					4.91
Return on average equity			9.60				6.52				9.32			NM				NM					5.80
Interest yield			13.39				9.67				11.57			NM				NM					11.70
Net interest margin, gross			9.85				5.99				6.90			NM				NM					8.00
Net interest margin, net of allowance			10.40				6.14				7.47			NM				NM					8.35
Reserve coverage (3)			5.19				2.49				7.96			NM				NM					4.48
Delinquency status (4)			0.57				0.17				8.58			NM				NM					0.81
Charge-off ratio (5)			4.38				1.44			NM				NM				NM					3.23

(1)

Inclusive of strategic partnership loans held for sale, at lower of amortized cost or fair value.

(2)

Excludes deferred financing costs of $8.2 million as of March 31, 2026.

(3)

Allowance for credit loss as a percent of gross loans held for investment and excludes loans held for sale.

(4)

Loans 90 days or more past due as a percent of total loans.

(5)

Net charge-offs as a percent of average gross loss.

(NM) Not meaningful.

(*) Line item is not applicable to segments.

The following table presents segment data as of and for the three months ended March 31, 2025.


Three Months Ended March 31, 2025		Consumer Lending
(Dollars in thousands)		Recreation				Home Improvement				Commercial Lending				Taxi Medallion Lending				Corporate and Other Investments				Consolidated
Total interest income		$	50,466			$	19,771			$	3,343			$	80			$	1,765			$	75,425
Total interest expense			12,041				6,964				1,053				12				3,943				24,013
Net interest income (expense)			38,425				12,807				2,290				68				(2,178	)			51,412
Provision (benefit) for credit losses			16,870				2,845				3,114				(815	)			—				22,014
Net interest income (loss) after credit loss provision			21,555				9,962				(824	)			883				(2,178	)			29,398
Other income, net			400				2				9,642				844				711				11,599
Other expenses:
Salaries			3,642				2,377				1,142				650				2,182				9,993
Loan servicing fees, credit, and collection costs			3,182				777				—				149				448				4,556
Other costs			3,140				1,830				331				184				724				6,209
Total other expenses			9,964				4,984				1,473				983				3,354				20,758
Net income (loss) before taxes			11,991				4,980				7,345				744				(4,821	)			20,239
Income tax (provision) benefit			(3,977	)			(1,652	)			(2,436	)			(247	)			1,599				(6,713	)
Net income (loss) after taxes		$	8,014			$	3,328			$	4,909			$	497			$	(3,222	)		$	13,526
Income attributable to the non-controlling interest																							1,512
Total net income attributable to Medallion Financial Corp.																						$	12,014
Balance Sheet Data
Total loans, gross		$	1,545,844			$	812,381			$	116,059			$	1,650			$	10,499			$	2,486,433
Total assets			1,495,150				795,868				109,565				6,855				440,300				2,847,738
Total funds borrowed (2)			1,229,818				654,632				90,121				5,638				362,164				2,342,373
Selected Financial Ratios
Return on average assets			2.17	%			1.68	%			18.45	%		NM				NM					1.93	%
Return on average stockholders' equity		*				*				*				*				*					12.96
Return on average equity			13.37				10.33				113.46			NM				NM					12.32
Interest yield			13.25				9.78				11.16			NM				NM					11.65
Net interest margin, gross			10.10				6.33				8.25			NM				NM					7.94
Net interest margin, net of allowance			10.59				6.50				8.71			NM				NM					8.25
Reserve coverage (3)			5.00				2.49				7.04			NM				NM					4.25
Delinquency status (4)			0.48				0.19				17.63			NM				NM					1.20
Charge-off ratio (5)			4.32				1.55				0.47			NM				NM					3.10

(1)

Inclusive of strategic partnership loans held for sale, at lower of amortized cost or fair value.

(2)

Excludes deferred financing costs of $8.1 million as of March 31, 2025.

(3)

Allowance for credit loss as a percent of gross loans held for investment and excludes loans held for sale.

(4)

Loans 90 days or more past due as a percent of total loans.

(5)

Net charge-offs as a percent of average gross loss. Charge-off ratio in the recreation lending segment was 4.67% when excluding loans held for sale

(NM) Not meaningful.

(*) Line item is not applicable to segments.