# EDGAR Filing Document

**Accession Number:** 0001000209
**File Stem:** 0001193125-26-191552
**Filing Date:** 2026-4
**Character Count:** 28716
**Document Hash:** e2edc2240de5e19102c07f728a0e21e9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-191552.hdr.sgml**: 20260429

**ACCESSION NUMBER**: 0001193125-26-191552

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 11

**CONFORMED PERIOD OF REPORT**: 20260429

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260429

**DATE AS OF CHANGE**: 20260429

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MEDALLION FINANCIAL CORP
- **CENTRAL INDEX KEY:** 0001000209
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 043291176
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37747
- **FILM NUMBER:** 26916081

**BUSINESS ADDRESS:**
- **STREET 1:** 437 MADISON AVE 38TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 2123282153

**MAIL ADDRESS:**
- **STREET 1:** 437 MADISON AVENUE
- **STREET 2:** 38TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

**FORM** 8-K

------

**CURRENT REPORT** 

**Pursuant to Section 13 or 15(d) of the** 

**Securities Exchange Act of 1934** 

**Date of Report (Date of earliest event reported):** April 29, 2026

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MEDALLION FINANCIAL CORP.

**(Exact name of registrant as specified in its charter)** 

------

Delaware

**(State or other jurisdiction of incorporation)** 

001-37747

 **(Commission File Number)** 

04-3291176

 **(IRS Employer Identification No.)** 

------

437 MADISON AVENUE**,** **38**<sup>th</sup> **Floor**

NEW YORK**,** New York 10022

**(Address of Principal Executive Offices) (Zip Code)** 

**(**212**)** 328-2100

**(Registrant's Telephone Number, Including Area Code)** 

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | |
|:---|:---|
| <u>Title of each class</u> | &nbsp;&nbsp;<u>Name of each exchange on which registered</u> |
| Common Stock, par value $0.01 per share<br> MFIN | NASDAQ Global Select Market |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

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**Item 2.02 Results of Operations and Financial Condition.** 

Medallion Financial Corp. (the "Company"), issued a press release to the news media announcing, among other things, the Company's results for the quarter ended March 31, 2026.

A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference. The information in the press release is being furnished, not filed, pursuant to Item 2.02. Accordingly, the information in the press release will not be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.

**Item 9.01 Financial Statements and Exhibits** 

(d) Exhibits

The following exhibits are being filed with this Current Report on Form 8-K:

99.1 [<u>Press release, dated April 29, 2026</u>](mfin-ex99_1.htm) <br> 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

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**SIGNATURE** 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: April 29, 2026

---

| | |
|:---|:---|
| **MEDALLION FINANCIAL CORP.** | **MEDALLION FINANCIAL CORP.** |
| By: | /s/ Anthony N. Cutrone |
|  | Name: Anthony N. Cutrone |
|  | Title: Chief Financial Officer |

---

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## Exhibit 99.1

**Exhibit 99.1**

![img225047079_0.jpg](img225047079_0.jpg)

**<u>FOR IMMEDIATE RELEASE:</u>**

**MEDALLION FINANCIAL CORP. REPORTS 2026 FIRST QUARTER RESULTS**

**NEW YORK, NY – April 29, 2026 –** Medallion Financial Corp. (NASDAQ: MFIN) ("Medallion" or the "Company"), a specialty finance company that originates and services loans in various consumer and commercial industries, along with offering loan origination services to fintech strategic partners, today announced its financial results for the quarter ended March 31, 2026.

**2026 First Quarter Highlights**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Total net income attributable to stockholders for the first quarter was $5.0 million, or $0.20 per share, compared to $12.0 million, or $0.50 per share, in the prior year quarter. Total net income for the prior year quarter included a $9.4 million gain on equity investments, compared to $0.3 million in the current quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Net interest income grew 5% to $54.1 million from $51.4 million in the prior year quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Net interest margin ("NIM") on gross loans was 8.00%, compared to 7.94% in the prior year quarter, and NIM on net loans was 8.35%, compared to 8.25% in the prior year quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Loan originations grew 34% to $376.9 million, compared to $281.6 million in the prior year quarter, and included $170.0 million of strategic partnership loan originations in the current quarter, compared to $136.2 million in the prior year quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Credit loss provision was $22.5 million, compared to $22.0 million in the prior year quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The loan portfolio, including loans held for sale, as of March 31, 2026, was $2.618 billion, up 5% from $2.486 billion a year ago.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Net book value per share at March 31, 2026 was $17.10 compared to $16.36 a year ago.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Company declared and paid a quarterly cash dividend of $0.12 per share.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Subsequent to March 31, 2026, the Board of Directors increased the quarterly cash dividend to $0.14 per share.

**Executive Commentary**

Andrew Murstein, President and Chief Executive Officer of Medallion Financial Corp., commented, "Following the strong results we achieved in 2025, Medallion continued that momentum in the first quarter 2026, demonstrating our ability to achieve growth across our lending segments. Loan originations grew 64% year-over-year in our recreation segment and 32% year-over-year in our home improvement segment, reflecting healthy demand and the strength of our platform. We saw year-over-year increases in our total portfolio, which expanded to a record $2.618 billion, net interest income, which increased to $54.1 million, and net book value per share, which grew to $17.10.

We continue to see both strong consumer demand for our loan products and improved credit performance. Credit losses in our recreation segment fell to 4.38% in the quarter compared to 4.67% in the 2025 quarter, while credit losses in our home improvement segment extended their multi-quarter decline. We continue to closely monitor the economic environment while remaining disciplined in our underwriting and focused on appropriate risk-adjusted returns.

As we continue to invest in our platform, we are implementing significant technological change and adding talented employees. This effort is designed to help create sustained loan origination growth in the coming periods. Ultimately, our business and lending model is designed to perform across cycles, and organic growth in high-quality assets will create resilience in varying market conditions.

We delivered one of our strongest loan volume quarters on record, reflecting exceptional demand for our products and the success of our origination efforts. We're excited about the underlying business momentum and confident this strong volume positions us well for solid returns ahead."

------

**Business Highlights**

*Recreation Lending*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Originations were $142.5 million during the quarter, compared to $86.8 million a year ago.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Recreation loans, including loans held for investment and loans held for sale, grew 7.5% to $1.672 billion, or 64% of total loans, as of March 31, 2026, compared to $1.546 billion, or 62%, a year ago.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Average loan size as of March 31, 2026 was $22,600 with a weighted average FICO score, measured at the time of loan origination, of 687.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Interest income grew 7% to $54.0 million for the quarter, from $50.5 million in the prior year quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The average interest rate was 15.11% at quarter-end, compared to 15.01% a year ago.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Recreation loans 90 days or more past due were $9.2 million, or 0.57% of gross recreation loans, as of March 31, 2026, compared to $7.1 million, or 0.48%, a year ago.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Allowance for credit losses as of March 31, 2026 was 5.19%, compared to 5.00% a year ago.

*Home Improvement Lending*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Originations were $64.4 million during the quarter, compared to $48.8 million a year ago.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Home improvement loans were $814.9 million, or 31% of total loans, as of March 31, 2026, compared to $812.4 million, or 33%, a year ago.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Average loan size as of March 31, 2026 was $22,900 with a weighted average FICO score, measured at the time of loan origination, of 781.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Interest income was $19.4 million for the quarter, compared to $19.8 million in the prior year quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The average interest rate was 9.82% at quarter-end, relatively unchanged as compared to 9.83% a year ago.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Home improvement loans 90 days or more past due were $1.4 million, or 0.17% of gross home improvement loans, as of March 31, 2026, compared to $1.5 million, or 0.19%, a year ago.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Allowance for credit losses as of March 31, 2026 was 2.49%, unchanged from a year ago.

*Commercial Lending*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Commercial loans were $119.6 million as of March 31, 2026, compared to $116.1 million a year ago.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Average loan size was $4.2 million as of March 31, 2026, invested across 28 portfolio companies.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The average interest rate on the portfolio was 14.18% as of March 31, 2026, compared to 13.14% a year ago.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•We recognized $0.3 million of net equity gains during the quarter, compared to $9.4 million a year ago.

*Strategic Partnerships*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Originations were $170.0 million during the quarter, compared to $136.2 million a year ago.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Total strategic partnership loans held as of March 31, 2026 were $10.8 million, compared to $10.5 million a year ago.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Fees generated from strategic partnerships were $0.8 million for the quarter, compared to $0.7 million in the prior year quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The average holding period of strategic partnership loans was approximately five days.

*Taxi Medallion Lending*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Company collected $1.7 million of cash on taxi medallion-related assets during the quarter, which resulted in net recoveries and gains of $1.1 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Total net taxi medallion-related assets declined to $3.8 million, a 45% reduction from a year ago, and represented less than 0.2% of the Company's total assets, as of March 31, 2026.

------

**Average Balance Sheet**

The following table presents our consolidated average balance sheets, interest income and expense, and the average interest earning/bearing assets and liabilities, and which reflects the average yield on assets and average costs on liabilities as of and for the three months ended March 31, 2026 and 2025.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
|  | **2026** | **2026** | **2026** | **2025** | **2025** | **2025** |
| *(Dollars in thousands)* | **Average<br>Balance** | **Interest** | **Average<br>Yield/Cost** | **Average<br>Balance** | **Interest** | **Average<br>Yield/Cost** |
| **Interest-earning assets** |  |  |  |  |  |  |
| &nbsp;&nbsp;Interest earning cash equivalents | $**35577** | $**268** | **3.06%** | $37291 | $352 | 3.83% |
| &nbsp;&nbsp;Federal funds sold | **60605** | **859** | **5.75** | 46665 | 817 | 7.10 |
| &nbsp;&nbsp;Investment securities | **62200** | **605** | **3.94** | 57960 | 519 | 3.63 |
| **Loans** |  |  |  |  |  |  |
| &nbsp;&nbsp;Recreation | **1636409** | **54034** | **13.39** | 1542323 | 50466 | 13.25 |
| &nbsp;&nbsp;Home improvement | **812577** | **19376** | **9.67** | 820012 | 19771 | 9.78 |
| &nbsp;&nbsp;Commercial | **120876** | **3449** | **11.57** | 112557 | 3098 | 11.16 |
| &nbsp;&nbsp;Taxi medallion | **1171** | **59** | **20.43** | 1697 | 80 | 19.12 |
| &nbsp;&nbsp;Strategic partnerships | **10066** | **418** | **16.84** | 8050 | 322 | 16.22 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total loans** | **2581099** | **77336** | **12.15** | 2484639 | 73737 | 12.04 |
| **Total interest-earning assets, before allowance** | **2739481** |  | **11.70** | 2626555 |  | 11.65 |
| &nbsp;&nbsp;Allowance for credit losses | **(115560)** |  |  | (98261) |  |  |
| &nbsp;&nbsp;Total interest-earning assets, net of allowance | $**2623921** | $**79068** | **12.21%** | $2528294 | $75425 | 12.10% |
| **Non-interest-earning assets** |  |  |  |  |  |  |
| &nbsp;&nbsp;Cash | **59936** |  |  | 65941 |  |  |
| &nbsp;&nbsp;Equity investments | **8099** |  |  | 9117 |  |  |
| &nbsp;&nbsp;Loan collateral in process of foreclosure | **6972** |  |  | 9547 |  |  |
| &nbsp;&nbsp;Goodwill and intangible assets | **168325** |  |  | 169770 |  |  |
| &nbsp;&nbsp;Other assets | **57196** |  |  | 56616 |  |  |
| **Total non-interest-earning assets** | **300528** |  |  | 310991 |  |  |
| **Total assets** | $**2924449** |  |  | $2839285 |  |  |
| **Interest-bearing liabilities** |  |  |  |  |  |  |
| &nbsp;&nbsp;Deposits | $**2126975** | $**20736** | **3.95%** | $2093173 | $19617 | 3.80% |
| &nbsp;&nbsp;Privately placed notes | **130875** | **2902** | **8.99** | 146500 | 3175 | 8.79 |
| &nbsp;&nbsp;SBA debentures and borrowings | **79250** | **867** | **4.44** | 67813 | 660 | 3.95 |
| &nbsp;&nbsp;Trust preferred securities | **33000** | **504** | **6.19** | 33000 | 561 | 6.89 |
| **Total interest-bearing liabilities** | **2370100** | **25009** | **4.28** | 2340486 | 24013 | 4.16 |
| **Non-interest-bearing liabilities** |  |  |  |  |  |  |
| &nbsp;&nbsp;Deferred tax liability | **19480** |  |  | 20510 |  |  |
| &nbsp;&nbsp;Other liabilities <sup>(1)</sup> | **25583** |  |  | 33036 |  |  |
| **Total non-interest-bearing liabilities** | **45063** |  |  | 53546 |  |  |
| **Total liabilities** | **2415163** |  |  | 2394032 |  |  |
| **Non-controlling interest** | **100013** |  |  | 69166 |  |  |
| **Total stockholders' equity** | **409273** |  |  | 376087 |  |  |
| **Total liabilities and stockholders' equity** | $**2924449** |  |  | $2839285 |  |  |
| **Net interest income** |  | $**54059** |  |  | $51412 |  |
| **Net interest margin, gross** |  |  | **8.00** |  |  | 7.94 |
| **Net interest margin, net of allowance** |  |  | **8.35%** |  |  | 8.25% |

---

(1)Includes deferred financing costs of $8.2 and $8.1 million as of March 31, 2026 and 2025.

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**Loan Portfolio**

The following table provides information regarding the composition of our loan portfolio for the dates presented:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** | **March 31, 2025** | **March 31, 2025** |
| *(Dollars in thousands)* | **Amount** | **As a<br>Percent of<br>Total Loans** | **Amount** | **As a<br>Percent of<br>Total Loans** | **Amount** | **As a<br>Percent of<br>Total Loans** |
| **Loans held for investment:** |  |  |  |  |  |  |
| &nbsp;&nbsp;Recreation | $**1671538** | **64%** | $1617221 | 63% | $1431610 | 58% |
| &nbsp;&nbsp;Home improvement | **814933** | **31** | 810237 | 32 | 812381 | 33 |
| &nbsp;&nbsp;Commercial | **119612** | **5** | 123068 | 5 | 116059 | 5 |
| &nbsp;&nbsp;Taxi medallion | **1126** | **\*** | 1179 | \* | 1650 | \* |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total loans** | **2607209** | **100** | 2551705 | 100 | 2361700 | 95 |
| **Loans held for sale, at lower of amortized cost or fair value:** |  |  |  |  |  |  |
| &nbsp;&nbsp;Recreation | **—** | **—** |  |  | 114234 | 5 |
| &nbsp;&nbsp;Strategic partnership | **10786** | **\*** | 15144 | \* | 10499 | \* |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total loans held for sale, at lower of amortized cost or fair value** | **10786** | **—** | 15144 |  | 124733 | 5 |
| **Total loans and loans held for sale** | $**2617995** | **100%** | $2566849 | 100% | $2486433 | 100% |

---

(\*) Less than 1%.

**Balance Sheet** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Cash and cash equivalents, including investment securities, as of March 31, 2026, were $206.6 million, compared to $218.4 million as of March 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•As of March 31, 2026, total assets were $2.950 billion, up from $2.848 billion as of March 31, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•As of March 31, 2026, total liabilities were $2.443 billion, up from $2.399 billion as of March 31, 2025.

**Capital Allocation**

*Quarterly Dividend*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Board of Directors declared a quarterly dividend of $0.14 per share, payable on May 21, 2026, to stockholders of record at the close of business on May 11, 2026.

---

| | | | |
|:---|:---|:---|:---|
| **Dividends Announced** | **Amount<br>Per Share** | **Record<br>Date** | **Payment<br>Date** |
| &nbsp;&nbsp;**Q2 2026** | $0.14 | 5/11/2026 | 5/21/2026 |
| &nbsp;&nbsp;**Q1 2026** | 0.12 | 3/19/2026 | 3/31/2026 |
| &nbsp;&nbsp;**Total: Year 2026 (Year to Date)** | **0.26** |  |  |
| &nbsp;&nbsp;**Total: Year 2025** | **0.47** |  |  |
| &nbsp;&nbsp;**Total: Year 2024** | **0.41** |  |  |
| &nbsp;&nbsp;**Total: Year 2023** | **0.34** |  |  |
| &nbsp;&nbsp;**Total: Year 2022 \*** | **0.32** |  |  |

---

(\*) Dividend reinstated in Q1 2022.

*Stock Repurchase Plan*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•During the quarter ended March 31, 2026, the Company did not repurchase any shares of its common stock.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•As of March 31, 2026, the Company had $14.4 million remaining under its $40 million stock repurchase program.

------

**Conference Call Information**

The Company will host a conference call to discuss its first quarter financial results tomorrow, Thursday, April 30, 2026, at 9:00 a.m. Eastern time.

In connection with its earnings release, the Company has updated its quarterly supplement presentation, which is now available at www.medallion.com.

**<u>How to Participate</u>**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Date**: Thursday, April 30, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Time**: 9:00 a.m. Eastern time

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Dial-in number**: (877) 407-4018 or (201) 689-8471

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Live webcast**: Link to Webcast of 1Q26 Earnings Call

A link to the live audio webcast of the conference call will also be available at the Company's IR website.

**<u>Replay Information</u>**

The conference call replay will be available following the end of the call through Thursday, May 7, 2026

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Dial-in**: (844) 512-2921 or (412) 317-6671

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•**Passcode**: 1375 9966

Additionally, the webcast replay will be available at the Company's IR website.

**About Medallion Financial Corp.**

Medallion Financial Corp. (NASDAQ: MFIN) and its subsidiaries originate and service a portfolio of consumer loans and mezzanine loans in various industries. Key industries served include recreation (towable RVs and marine) and home improvement (replacement roofs, swimming pools, and windows). Medallion Financial Corp. is headquartered in New York City, NY, and its largest subsidiary, Medallion Bank, is headquartered in Salt Lake City, Utah. For more information, please visit www.medallion.com.

**Forward-Looking Statements**

*Please note that this press release contains forward-looking statements that involve risks and uncertainties relating to business performance, cash flow, net interest income and expenses, other expenses, earnings, growth, and our growth strategy. These statements are often, but not always, made using words or phrases such as "will" and "continue" or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These statements relate to future public announcements of our earnings, expectations regarding our loan portfolio, including collections on our taxi medallion loans, the potential for future asset growth, and market share opportunities. Medallion's actual results may differ significantly from the results discussed in such forward-looking statements. For example, statements about the effects of the current economy, whether inflation or the risk of recession, the effects of tariffs, the impact of the conflict with Iran, operations, financial performance and prospects constitute forward-looking statements and are subject to the risk that the actual impacts may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond Medallion's control. In addition to risks relating to the current economy, for a description of certain risks to which Medallion is or may be subject, please refer to the factors discussed under the heading "Risk Factors" in Medallion's 2025 Annual Report on Form 10-K.*

*Investor Relations*

InvestorRelations@medallion.com

212-328-2176

*Investor Relations*

The Equity Group Inc.

Lena Cati

<u>lcati@theequitygroup.com</u> 

(212) 836-9611

Val Ferraro

<u>vferraro@theequitygroup.com</u> 

(212) 836-9633

------

**MEDALLION FINANCIAL CORP.**

**CONSOLIDATED BALANCE SHEETS**

**(UNAUDITED)**

---

| | | | |
|:---|:---|:---|:---|
|  | **(Unaudited)** |  | **(Unaudited)** |
| *(Dollars in thousands, except share and per share data)* | **March 31, 2026** | **December 31, 2025** | **March 31, 2025** |
| **Assets** |  |  |  |
| &nbsp;&nbsp;Cash, cash equivalents, and federal funds sold | $**138649** | $201564 | $157994 |
| &nbsp;&nbsp;Investment securities | **67934** | 60183 | 60424 |
| &nbsp;&nbsp;Equity investments | **8099** | 8099 | 8997 |
| &nbsp;&nbsp;Loans held for sale, at lower of amortized cost or fair value | **10786** | 15144 | 124733 |
| &nbsp;&nbsp;Loans | **2607209** | 2551705 | 2361700 |
| &nbsp;&nbsp;Allowance for credit losses | **(116696)** | (114789) | (100366) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net loans receivable** | **2490513** | 2436916 | 2261334 |
| &nbsp;&nbsp;Goodwill and intangible assets, net | **168143** | 168504 | 169588 |
| &nbsp;&nbsp;Property, equipment, and right-of-use lease asset, net | **19261** | 11861 | 12814 |
| &nbsp;&nbsp;Accrued interest receivable | **10999** | 19401 | 14437 |
| &nbsp;&nbsp;Loan collateral in process of foreclosure | **6418** | 7333 | 9183 |
| &nbsp;&nbsp;Other assets | **29684** | 26459 | 28234 |
| **Total assets** | $**2950486** | $2955464 | $2847738 |
| **Liabilities** |  |  |  |
| &nbsp;&nbsp;Deposits | $**2128568** | $2084265 | $2022828 |
| &nbsp;&nbsp;Long-term debt | **214159** | 215987 | 199665 |
| &nbsp;&nbsp;Short-term borrowings | **44500** | 95250 | 111750 |
| &nbsp;&nbsp;Deferred tax liabilities, net | **21217** | 19596 | 21538 |
| &nbsp;&nbsp;Operating lease liabilities | **4489** | 5041 | 4528 |
| &nbsp;&nbsp;Accrued interest payable | **5635** | 6319 | 6610 |
| &nbsp;&nbsp;Accounts payable and accrued expenses | **24405** | 20960 | 31807 |
| **Total liabilities** | **2442973** | 2447418 | 2398726 |
| **Total stockholders' equity** | **408084** | 408617 | 380224 |
| Non-controlling interest in consolidated subsidiaries | **99429** | 99429 | 68788 |
| **Total equity** | **507513** | 508046 | 449012 |
| **Total liabilities and equity** | $**2950486** | $2955464 | $2847738 |
| Number of shares outstanding | **23864438** | 23311683 | 23235030 |
| **Book value per share** | $**17.10** | $17.53 | $16.36 |

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**MEDALLION FINANCIAL CORP.**

**CONSOLIDATED STATEMENTS OF OPERATIONS**

**(UNAUDITED)**

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| | | |
|:---|:---|:---|
|  | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| *(Dollars in thousands, except share and per share data)* | **2026** | **2025** |
| **Total interest income** | $**79068** | $75425 |
| **Total interest expense** | **25009** | 24013 |
| **Net interest income** | **54059** | 51412 |
| &nbsp;&nbsp;Provision for credit losses | **22476** | 22014 |
| **Net interest income after provision for credit losses** | **31583** | 29398 |
| **Other income** |  |  |
| &nbsp;&nbsp;Gain on equity investments, net | **313** | 9430 |
| &nbsp;&nbsp;Gain on taxi medallion assets, net | **1099** | 843 |
| &nbsp;&nbsp;Strategic partnership fees | **823** | 685 |
| &nbsp;&nbsp;Other income | **173** | 641 |
| **Total other income, net** | **2408** | 11599 |
| **Other expenses** |  |  |
| &nbsp;&nbsp;Salaries and employee benefits | **11000** | 9993 |
| &nbsp;&nbsp;Loan servicing fees | **3537** | 2817 |
| &nbsp;&nbsp;Collection costs | **1937** | 1739 |
| &nbsp;&nbsp;Professional fee costs, net | **1252** | 1750 |
| &nbsp;&nbsp;Regulatory fees | **979** | 821 |
| &nbsp;&nbsp;Rent expense | **697** | 675 |
| &nbsp;&nbsp;Depreciation | **632** | 618 |
| &nbsp;&nbsp;Amortization of intangible assets | **361** | 361 |
| &nbsp;&nbsp;Director compensation | **432** | 190 |
| &nbsp;&nbsp;Other expenses | **1547** | 1794 |
| **Total other expenses** | **22374** | 20758 |
| **Income before income taxes** | **11617** | 20239 |
| &nbsp;&nbsp;Income tax provision | **4328** | 6713 |
| **Net income** | **7289** | 13526 |
| &nbsp;&nbsp;Less: income attributable to the non-controlling interest | **2336** | 1512 |
| **Net income attributable to Medallion Financial Corp.** | $**4953** | $12014 |
| &nbsp;&nbsp;Basic net income per share | $**0.21** | $0.53 |
| &nbsp;&nbsp;Diluted net income per share | $**0.20** | $0.50 |
| **Weighted average common shares outstanding** |  |  |
| &nbsp;&nbsp;Basic | **23059744** | 22570797 |
| &nbsp;&nbsp;Diluted | **24545801** | 23897167 |
| &nbsp;&nbsp;Dividends declared per common share | $**0.14** | $0.12 |

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