--- title: "Medallion Bank UTAH Pref Shares MEDBNK 9.0 Perp 07/01/30 | 10-K: FY2025 Revenue: USD 315.32 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/278610020.md" datetime: "2026-03-10T20:15:04.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/278610020.md) - [en](https://longbridge.com/en/news/278610020.md) - [zh-HK](https://longbridge.com/zh-HK/news/278610020.md) generator: "portal-rs" --- # Medallion Bank UTAH Pref Shares MEDBNK 9.0 Perp 07/01/30 | 10-K: FY2025 Revenue: USD 315.32 M Revenue: As of FY2025, the actual value is USD 315.32 M. EPS: As of FY2025, the actual value is USD 1.78. EBIT: As of FY2025, the actual value is USD -137.01 M. #### Consolidated Overview - **Total Assets**: $2.96 billion as of December 31, 2025, an increase from $2.87 billion as of December 31, 2024. - **Gross Loan Portfolio Composition (as of December 31, 2025)**: Consumer loans represented 95%, and commercial loans represented 5%. - **Total Interest Income**: $315.3 million for the year ended December 31, 2025, up from $290.7 million for the year ended December 31, 2024. - **Total Interest Expense**: $98.4 million for the year ended December 31, 2025, compared to $88.2 million for the year ended December 31, 2024. - **Net Interest Income**: $216.9 million for the year ended December 31, 2025, up from $202.5 million for the year ended December 31, 2024. - **Net Interest Margin, Gross**: 8.06% for 2025, compared to 8.05% for 2024. - **Provision for Credit Losses**: $89.8 million for the year ended December 31, 2025, compared to $76.5 million for the year ended December 31, 2024. - **Net Charge-offs**: $72.4 million for the year ended December 31, 2025, compared to $63.4 million for the year ended December 31, 2024. - **Net Income Attributable to Shareholders**: $43.0 million, or $1.78 per diluted share, for 2025, compared to $35.9 million, or $1.52 per diluted share, for 2024. - **Total Loans (inclusive of loans held for sale)**: Increased by $75.8 million (3%) to $2.567 billion as of December 31, 2025, from $2.491 billion as of December 31, 2024. - **Allowance for Credit Losses**: $114.8 million as of December 31, 2025, compared to $97.4 million as of December 31, 2024, representing 4.50% and 4.12% of total loans held for investment, respectively. - **Average Cost of Borrowed Funds**: 4.22% for 2025, compared to 3.93% for 2024. #### Recreation Lending - **Segment Revenue (Total Interest Income)**: $209,321 thousand for 2025, $194,131 thousand for 2024, and $167,765 thousand for 2023. - **Net Income After Taxes**: $31,047 thousand for 2025, $32,460 thousand for 2024, and $42,281 thousand for 2023. - **Net Interest Income**: $157,355 thousand for 2025, $148,008 thousand for 2024, and $136,329 thousand for 2023. - **Net Interest Margin, Gross**: 10.05% for 2025, 10.14% for 2024, and 10.62% for 2023. - **Provision for Credit Losses**: $73,908 thousand for 2025, $67,995 thousand for 2024, and $44,592 thousand for 2023. - **Operating Costs**: - **Salaries**: - $13,926 thousand for 2025, - $12,644 thousand for 2024, and - $11,734 thousand for 2023. - **Loan Servicing Fees and Collection Costs**: - $13,841 thousand for 2025, - $12,038 thousand for 2024, and - $10,714 thousand for 2023. - **Other Costs**: - $12,800 thousand for 2025, - $8,446 thousand for 2024, and - $10,153 thousand for 2023. - **Total Loans, Gross**: $1,617,221 thousand for 2025, $1,543,243 thousand for 2024, and $1,336,222 thousand for 2023. - **Allowance for Credit Losses**: $85,956 thousand for 2025 (5.32% of loans held for investment), $71,102 thousand for 2024 (5.00%), and $57,532 thousand for 2023 (4.31%). - **Loan Originations**: $468.5 million for 2025, $526.6 million for 2024, and $447.0 million for 2023. - **Non-prime Originations**: 36% of total originations in 2025 ($169.5 million), 35% in 2024 ($185.3 million), and 34% in 2023 ($152.0 million). - **Average Coupon Rate at Origination**: Increased to 15.16% in 2025 from 15.07% in 2024. - **Weighted Average FICO Scores (at origination) of Loans Outstanding**: 686 (2025), 685 (2024), 683 (2023). - **Net Charge-off Ratio**: 3.77% for 2025, 3.72% for 2024, and 3.04% for 2023. - **Delinquency Status (Loans 90+ days past due as % of total loans)**: 0.82% for 2025, 0.67% for 2024, and 0.70% for 2023. #### Home Improvement Lending - **Segment Revenue (Total Interest Income)**: $80,624 thousand for 2025, $74,036 thousand for 2024, and $62,703 thousand for 2023. - **Net Income After Taxes**: $15,433 thousand for 2025, $12,759 thousand for 2024, and $7,273 thousand for 2023. - **Net Interest Income**: $51,693 thousand for 2025, $47,759 thousand for 2024, and $44,566 thousand for 2023. - **Net Interest Margin, Gross**: 6.38% for 2025, 6.09% for 2024, and 6.29% for 2023. - **Provision for Credit Losses**: $10,181 thousand for 2025, $13,458 thousand for 2024, and $17,583 thousand for 2023. - **Operating Costs**: - **Salaries**: - $8,910 thousand for 2025, - $8,031 thousand for 2024, and - $8,226 thousand for 2023. - **Loan Servicing Fees and Collection Costs**: - $3,880 thousand for 2025, - $3,263 thousand for 2024, and - $3,024 thousand for 2023. - **Other Costs**: - $6,456 thousand for 2025, - $4,292 thousand for 2024, and - $5,502 thousand for 2023. - **Total Loans, Gross**: $810,237 thousand for 2025, $827,211 thousand for 2024, and $760,621 thousand for 2023. - **Allowance for Credit Losses**: $19,563 thousand for 2025 (2.41% of gross loans), $20,536 thousand for 2024 (2.48%), and $21,019 thousand for 2023 (2.76%). - **Loan Originations**: $224.5 million for 2025, $298.6 million for 2024, and $357.4 million for 2023. - **Non-prime Originations**: Less than 1% of total originations for 2025 and 2024, and 1% for 2023. - **Average Interest Rate Charged on Loans**: Increased to 9.87% in 2025 from 9.81% in 2024. - **Weighted Average FICO Scores (at origination) of Loans Outstanding**: 767 (2025), 767 (2024), 764 (2023). - **Net Charge-off Ratio**: 1.38% for 2025, 1.78% for 2024, and 1.33% for 2023. - **Delinquency Status (Loans 90+ days past due as % of total loans)**: 0.16% for 2025, 0.17% for 2024, and 0.20% for 2023. #### Commercial Lending - **Segment Revenue (Total Interest Income)**: $15,904 thousand for 2025, $14,007 thousand for 2024, and $12,719 thousand for 2023. - **Net Income After Taxes**: $14,604 thousand for 2025, $7,827 thousand for 2024, and $6,791 thousand for 2023. - **Net Interest Income**: $11,080 thousand for 2025, $9,713 thousand for 2024, and $9,122 thousand for 2023. - **Net Interest Margin, Gross**: 9.09% for 2025, 8.81% for 2024, and 9.18% for 2023. - **Provision for Credit Losses**: $9,027 thousand for 2025, $1,093 thousand for 2024, and $1,988 thousand for 2023. - **Other Income (Gains on Equity Investments, Net)**: $24,552 thousand for 2025, $6,917 thousand for 2024, and $5,178 thousand for 2023. - **Operating Costs**: - **Salaries**: - $5,086 thousand for 2025, - $3,564 thousand for 2024, and - $3,079 thousand for 2023. - **Other Costs**: - $1,115 thousand for 2025, - $1,428 thousand for 2024, and - $468 thousand for 2023. - **Total Loans, Gross**: $123,068 thousand for 2025, $111,273 thousand for 2024, and $114,827 thousand for 2023. - **Allowance for Credit Losses**: $9,052 thousand for 2025 (7.36% of gross loans), $5,190 thousand for 2024 (4.66%), and $4,148 thousand for 2023 (3.61%). - **Loan Originations**: $40.6 million for 2025, $14.3 million for 2024. - **Geographic Concentrations (as of December 31, 2025)**: California (20%), Wisconsin (12%), New York (11%). - **Industry Concentrations (as of December 31, 2025)**: Manufacturing (63%), Wholesale Trade (11%), Construction (10%). - **Net Charge-off Ratio**: 4.22% for 2025, 0.04% for 2024, and 1.02% for 2023. - **Delinquency Status (Loans 90+ days past due as % of total loans)**: 8.34% for 2025, 14.66% for 2024, and 5.40% for 2023. #### Taxi Medallion Lending - **Segment Revenue (Total Interest Income)**: $432 thousand for 2025, $659 thousand for 2024, and $1,596 thousand for 2023. - **Net Income After Taxes**: $3,239 thousand for 2025, $1,996 thousand for 2024, and $17,011 thousand for 2023. - **Net Interest Income**: $359 thousand for 2025, $557 thousand for 2024, and $1,524 thousand for 2023. - **Benefit for Credit Losses**: - $3,294 thousand for 2025, - $6,035 thousand for 2024, and - $26,318 thousand for 2023. - **Other Income (Gains related to Taxi Medallion Assets)**: $4,671 thousand for 2025, $910 thousand for 2024, and $3,358 thousand for 2023. - **Operating Costs**: - **Salaries**: - $2,130 thousand for 2025, - $2,947 thousand for 2024, and - $4,849 thousand for 2023. - **Loan Servicing Fees and Collection Costs**: - $410 thousand for 2025, - $724 thousand for 2024, and - $1,006 thousand for 2023. - **Other Costs**: - $1,107 thousand for 2025, - $902 thousand for 2024, and - $1,401 thousand for 2023. - **Total Loans, Gross**: $1,179 thousand for 2025, $1,909 thousand for 2024, and $3,663 thousand for 2023. - **Allowance for Credit Losses**: $218 thousand for 2025, $540 thousand for 2024, and $1,536 thousand for 2023. - **Net Recoveries**: $3.0 million for 2025, compared to $5.0 million for 2024. - **Taxi Medallion Value**: $79,500 in NYC and Newark markets; $0 in other markets as of December 31, 2025. - **Loans in Process of Foreclosure (as of December 31, 2025)**: 281 in New York, 186 in Chicago, 22 in Newark, and 31 in other markets. #### Corporate and Other Investments (Non-Operating Segment) - **Total Interest Income**: $9,039 thousand for 2025, $7,869 thousand for 2024, and $6,257 thousand for 2023. - **Net Loss After Taxes**: - $8,982 thousand for 2025, - $13,117 thousand for 2024, and - $12,230 thousand for 2023. - **Net Interest Expense**: - $3,594 thousand for 2025, - $3,502 thousand for 2024, and - $3,447 thousand for 2023. - **Other Income**: $6,124 thousand for 2025, $1,793 thousand for 2024, and $1,609 thousand for 2023. - **Operating Costs**: - **Salaries**: - $11,612 thousand for 2025, - $11,158 thousand for 2024, and - $9,674 thousand for 2023. - **Loan Servicing Fees and Collection Costs**: - $50 thousand for 2025, - $1,126 thousand for 2024, and - $799 thousand for 2023. - **Other Costs**: - $3,856 thousand for 2025, - $3,864 thousand for 2024, and - $4,939 thousand for 2023. - **Strategic Partnership Loans**: $15.1 million in net loans as of December 31, 2025, compared to $7.4 million as of December 31, 2024. - **Strategic Partnership Loan Originations**: $771.6 million for 2025, compared to $203.6 million for 2024. #### Outlook/Guidance The company anticipates increased borrowing costs due to current prevailing rates for deposits and borrowed funds. Net interest margins are expected to remain steady, subject to fluctuations based on changes in the loan portfolio mix. The company plans to continue quarterly dividends at the current rate for the foreseeable future, though this policy may be re-evaluated depending on market conditions. ### Related Stocks - [MBNKO.US](https://longbridge.com/en/quote/MBNKO.US.md) ## Related News & Research - [Weekly Recap: H1 2024 net interest income +9% and £500m subordinated debt redemption](https://longbridge.com/en/news/296738894.md) - [2024 Lamborghini Revuelto listed at $200K, far below market value](https://longbridge.com/en/news/296401601.md) - [13:12 ETPRCT DEADLINE: Levi & Korsinsky Reminds PROCEPT BIOROBOTICS CORPORATION Investors of Upcoming Securities Class Action Deadline](https://longbridge.com/en/news/296384321.md) - [PDS Biotechnology Says Lars Boesgaard To Resign As CFO Effective September 12](https://longbridge.com/en/news/296400297.md) - [Dear Nebius Stock Fans, Mark Your Calendars for August 12](https://longbridge.com/en/news/295302368.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**