Medallion Financial (MFIN) investor relations material

Executive summary

• Achieved record total assets surpassing $3.0 billion as of June 30, 2026, up from $2.88 billion a year ago.

• Loan originations increased 63% year-over-year to $611.6 million, with strong growth in recreation ($228.5M, up 60% YoY) and home improvement ($128.6M, up over 2x YoY) segments.

• Net interest income hit a record $57.2 million, with net interest margin on net loans at 8.28%.

• Net income attributable to shareholders was $7.4 million ($0.31 per share), down from $11.1 million ($0.46 per share) YoY, reflecting lower equity gains and higher credit loss provisions.

• Dividend increased to $0.14 per share (16.7% QoQ increase), with share repurchases totaling nearly 780,000 shares at a discount to book value.

Financial highlights

• Total loans reached $2.79 billion, up 12.5% year-over-year and 7% sequentially.

• Net interest margin on gross loans was 7.94%; on net loans, 8.28% for 2Q26.

• Net book value per share increased to $17.62; tangible book value per share was $12.17.

• Provision for credit losses was $22.3 million, with net charge-offs for 2Q26 at $16.3 million (2.4% of gross loans).

• Operating expenses increased to $25 million, mainly due to higher employee and servicing costs.

Outlook and guidance

• Loan origination volumes expected to remain strong, with Q2 and Q3 as seasonally strongest quarters.

• Strategic partnership program continues to drive origination growth, with $247.1 million in 2Q26.

• Targeting mid-teens loan growth for the full year, with some seasonal slowdown expected in late Q3.

• Continued focus on sustainable growth, talent acquisition, and technology investments, including a new loan origination system by Q1 2027.

• Management expects continued profitable growth through disciplined underwriting and expanding partnerships.