--- title: "Medallion Bank UTAH Pref Shares MEDBNK 9.0 Perp 07/01/30 | 10-Q: FY2026 Q1 Revenue: USD 81.48 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285302924.md" datetime: "2026-05-06T03:14:26.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285302924.md) - [en](https://longbridge.com/en/news/285302924.md) - [zh-HK](https://longbridge.com/zh-HK/news/285302924.md) generator: "portal-rs" --- # Medallion Bank UTAH Pref Shares MEDBNK 9.0 Perp 07/01/30 | 10-Q: FY2026 Q1 Revenue: USD 81.48 M Revenue: As of FY2026 Q1, the actual value is USD 81.48 M. EPS: As of FY2026 Q1, the actual value is USD 0.2. EBIT: As of FY2026 Q1, the actual value is USD -42.44 M. ### Segmented Financial Performance (Three Months Ended March 31, 2026 vs. 2025) #### Recreation Lending Segment - **Total Interest Income**: $54,034 thousand in 2026, compared to $50,466 thousand in 2025. - **Net Interest Income**: $39,742 thousand in 2026, compared to $38,425 thousand in 2025. - **Provision for Credit Losses**: $18,445 thousand in 2026, compared to $16,870 thousand in 2025. - **Net Income After Credit Loss Provision**: $21,297 thousand in 2026, compared to $21,555 thousand in 2025. - **Net Income After Taxes**: $6,428 thousand in 2026, compared to $8,014 thousand in 2025. - **Total Loans, Gross**: $1,671,538 thousand as of March 31, 2026, compared to $1,545,844 thousand as of March 31, 2025. - **Reserve Coverage**: 5.19% as of March 31, 2026, compared to 5.00% as of March 31, 2025. - **Delinquency Status (90+ days past due)**: 0.57% as of March 31, 2026, compared to 0.48% as of March 31, 2025. - **Charge-off Ratio**: 4.38% in 2026, compared to 4.32% in 2025. - **Operational Metrics**: As of March 31, 2026, the recreation loan portfolio comprised RVs (54%), boats (21%), collector cars (13%), and trailers (11%), with major geographic concentrations in Texas (17%) and Florida (10%). #### Home Improvement Lending Segment - **Total Interest Income**: $19,376 thousand in 2026, compared to $19,771 thousand in 2025. - **Net Interest Income**: $12,006 thousand in 2026, compared to $12,807 thousand in 2025. - **Provision for Credit Losses**: $3,618 thousand in 2026, compared to $2,845 thousand in 2025. - **Net Income After Credit Loss Provision**: $8,388 thousand in 2026, compared to $9,962 thousand in 2025. - **Net Income After Taxes**: $2,211 thousand in 2026, compared to $3,328 thousand in 2025. - **Total Loans, Gross**: $814,933 thousand as of March 31, 2026, compared to $812,381 thousand as of March 31, 2025. - **Reserve Coverage**: 2.49% as of March 31, 2026, compared to 2.49% as of March 31, 2025. - **Delinquency Status (90+ days past due)**: 0.17% as of March 31, 2026, compared to 0.19% as of March 31, 2025. - **Charge-off Ratio**: 1.44% in 2026, compared to 1.55% in 2025. - **Operational Metrics**: As of March 31, 2026, the home improvement loan portfolio’s largest product lines were swimming pools (35%), roofs (27%), and windows (11%), with major geographic concentrations in Florida (14%) and Texas (13%). #### Commercial Lending Segment - **Total Interest Income**: $3,449 thousand in 2026, compared to $3,343 thousand in 2025. - **Net Interest Income**: $2,057 thousand in 2026, compared to $2,290 thousand in 2025. - **Provision for Credit Losses**: $459 thousand in 2026, compared to $3,114 thousand in 2025. - **Net Income After Credit Loss Provision**: $1,598 thousand in 2026, compared to - $824 thousand in 2025. - **Net Income After Taxes**: $454 thousand in 2026, compared to $4,909 thousand in 2025. - **Total Loans, Gross**: $119,612 thousand as of March 31, 2026, compared to $116,059 thousand as of March 31, 2025. - **Reserve Coverage**: 7.96% as of March 31, 2026, compared to 7.04% as of March 31, 2025. - **Delinquency Status (90+ days past due)**: 8.58% as of March 31, 2026, compared to 17.63% as of March 31, 2025. - **Charge-off Ratio**: Not meaningful in 2026, compared to 0.47% in 2025. - **Operational Metrics**: As of March 31, 2026, the commercial lending segment had concentrations in manufacturing (62%), wholesale trade (11%), and construction (10%), with geographic concentrations in California (21%), Wisconsin (12%), and New York (11%). #### Taxi Medallion Lending Segment - **Total Interest Income**: $59 thousand in 2026, compared to $80 thousand in 2025. - **Net Interest Income**: $29 thousand in 2026, compared to $68 thousand in 2025. - **Provision for Credit Losses**: - $46 thousand in 2026, compared to - $815 thousand in 2025. - **Net Income After Credit Loss Provision**: $75 thousand in 2026, compared to $883 thousand in 2025. - **Net Income After Taxes**: $269 thousand in 2026, compared to $497 thousand in 2025. - **Total Loans, Gross**: $1,126 thousand as of March 31, 2026, compared to $1,650 thousand as of March 31, 2025. - **Reserve Coverage**: 13.86% as of March 31, 2026. - **Delinquency Status (90+ days past due)**: Not meaningful as of March 31, 2026. - **Operational Metrics**: This segment primarily finances taxi medallions and related assets, predominantly in the New York City metropolitan area, with no new taxi medallion loans originated by the Bank since 2014 or by Medallion Financial Corp. since 2015. #### Corporate and Other Investments Segment - **Total Interest Income**: $2,150 thousand in 2026, compared to $1,765 thousand in 2025. - **Net Interest Income**: $225 thousand in 2026, compared to - $2,178 thousand in 2025. - **Net Income After Taxes**: - $2,073 thousand in 2026, compared to - $3,222 thousand in 2025. ### Consolidated Financial Summary (Three Months Ended March 31, 2026 vs. 2025) - **Total Interest Income**: $79,068 thousand in 2026, up from $75,425 thousand in 2025. - **Total Interest Expense**: $25,009 thousand in 2026, up from $24,013 thousand in 2025. - **Net Interest Income**: $54,059 thousand in 2026, up from $51,412 thousand in 2025. - **Provision for Credit Losses**: $22,476 thousand in 2026, up from $22,014 thousand in 2025. - **Net Income Attributable to Medallion Financial Corp.**: $4,953 thousand in 2026, significantly down from $12,014 thousand in 2025. - **Net Cash Provided by Operating Activities**: $41,316 thousand in 2026, compared to $33,146 thousand in 2025. - **Net Cash Used in Investing Activities**: - $86,026 thousand in 2026, compared to - $1,582 thousand in 2025. - **Net Cash Used in Financing Activities**: - $18,205 thousand in 2026, compared to - $43,142 thousand in 2025. - **Total Assets**: $2,950,486 thousand as of March 31, 2026, compared to $2,847,738 thousand as of March 31, 2025. - **Total Loans, Gross (Consolidated)**: $2,617,995 thousand as of March 31, 2026, compared to $2,486,433 thousand as of March 31, 2025. - **Deposits**: $2,128,568 thousand as of March 31, 2026, compared to $2,084,265 thousand as of December 31, 2025. - **Long-term Debt**: $214,159 thousand as of March 31, 2026, compared to $215,987 thousand as of December 31, 2025. - **Short-term Debt**: $44,500 thousand as of March 31, 2026, compared to $95,250 thousand as of December 31, 2025. ### Strategic Outlook and Guidance Medallion Financial Corp. is actively monitoring global supply chain disruptions, geopolitical events, and inflationary pressures, leading to a strategy of seeking strong credit-rated borrowers and moderating growth. The company is also exploring alternatives for Medallion Bank, including an IPO, sale, or spin-off, though no timeline or assurance of a transaction is provided. ### Unique Operational Developments - **SBA Debentures**: Medallion Capital received an event of default notice from the SBA due to a management team review issue and is working to identify qualified candidates, noting this does not trigger cross-default clauses. - **Strategic Partnership Program**: Medallion Bank launched a strategic partnership program in 2019 to offer lending and services to fintech companies, which began issuing loans in 2020 and continues to expand partnerships. - **Regulatory Capital**: As of March 31, 2026, Medallion Bank maintained a Tier 1 leverage ratio of 17.4%, exceeding the 15% minimum requirement by $61.2 million, and was considered well-capitalized. ### Subsequent Events (After March 31, 2026) - On April 28, 2026, Medallion Financial Corp. issued $75.0 million in senior unsecured notes with an 8.25% interest rate, maturing May 1, 2031. - On April 30, 2026, the company sold $47.0 million in recreation loans for $50.0 million total proceeds, retaining $5.2 million of the pool and loan servicing rights. ### Related Stocks - [MBNKO.US](https://longbridge.com/en/quote/MBNKO.US.md) ## Related News & Research - [Lument Finance (LFT) Q2 2026 Earnings Call Transcript](https://longbridge.com/en/news/296563323.md) - [Multilaser books additional R$ 20 million provision on Casas Bahia receivables](https://longbridge.com/en/news/296286553.md) - [Banrisul says 1Q26 profit falls 8.2% on higher expected credit losses despite wider net interest margin](https://longbridge.com/en/news/296519866.md) - [Lufax Holding: Q2 new loan sales rose 4.6% year-over-year, led by consumer finance, amid improved asset quality](https://longbridge.com/en/news/296344396.md) - [Fannie Mae Announces Sale of Non-Performing Loans | FNMA Stock News](https://longbridge.com/en/news/296367903.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**