Medallion Financial (MFIN) Investor presentation summary

Company overview and business model

• Operates as a specialty finance company with a focus on consumer and commercial lending, leveraging a Utah industrial bank charter for regulatory flexibility.

• Main lending segments include recreational vehicles, home improvement, and commercial loans, with strategic fintech partnerships for loan origination.

• Subsidiaries include Medallion Bank and Medallion Capital, with a combined loan book exceeding $2.79 billion as of June 30, 2026.

• Insider ownership is over 20%, aligning management interests with shareholders.

Loan portfolio and segment performance

• Recreation loans comprise 63% of the portfolio ($1.76B), home improvement 32% ($885.6M), and commercial lending 4.5% ($126.2M).

• Average interest rates: recreation 15.06%, home improvement 9.69%, commercial 14.37%.

• Strategic fintech partnerships originated $247.1M in loans in 2Q26, with a five-partner pipeline.

• Average FICO scores: 686 for recreation, 768 for home improvement loans.

Financial performance and profitability

• Net interest income reached $57.2M in 2Q26, with a net interest margin of 7.94%.

• Net income for 2Q26 was $7.4M, with annual net income of $55.1M in 2025.

• Operating efficiency improved, with operating costs at 39% of net interest income in 2025.

• Pretax ROE for new recreation loans is 42%.