Medallion Bank Reports 2026 Second Quarter Results and Declares Series G Preferred Stock Dividend

SALT LAKE CITY, July 29, 2026 (GLOBE NEWSWIRE) -- Medallion Bank (Nasdaq: MBNKO, the “Bank”), an FDIC-insured bank providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners, announced today its results for the quarter ended June 30, 2026. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN).

2026 Second Quarter Highlights * Net income of $16.0 million, compared to $17.3 million in the prior year quarter. * Net income attributable to common shareholder of $13.7 million, compared to $14.7 million in the prior year quarter. * Net interest income of $58.1 million, compared to $53.6 million in the prior year quarter. Total non-interest income of $3.0 million in both the current and prior year quarters. * Net interest margin of 8.46%, compared to 8.55% in the prior year quarter. * Recreation loan originations grew 60% from the prior year quarter to $228.5 million, and the loan portfolio grew 18% to $1.8 billion. * Home Improvement loan originations grew 137% from the prior year quarter to $128.6 million, and the loan portfolio grew 10% to $885.6 million. * Strategic partnership loan originations grew 47% from the prior year quarter to $247.1 million. During the quarter, the Bank added Together Loans to its growing strategic partnership program. * Total provision for credit losses was $21.6 million, compared to $18.7 million in the prior year quarter. * Annualized net charge-offs were 2.56% of average loans outstanding, compared to 2.66% in the prior year quarter. * Annualized return on average assets and return on average equity were 2.36% and 14.39%, respectively, compared to 2.75% and 16.11%, respectively, for the prior year period. * Total assets were $2.8 billion and the Tier 1 leverage ratio was 16.9% at June 30, 2026. Series G Preferred Stock Dividend