Medallion Q1 2022 Earnings Report
Key Takeaways
Medallion Financial Corp. reported a strong first quarter in 2022, with net income increasing by 17% to $9.8 million, and loan originations rising by 44% to $213.7 million. The consumer loan portfolio reached $1.5 billion, with recreation loans exceeding $1 billion for the first time. The company also reinstated its quarterly dividend and resumed stock repurchases.
Net income grew 17% to $9.8 million, or $0.39 per share.
Net interest income increased 25% to $35.9 million.
Loan originations rose 44% to $213.7 million.
Recreation loan portfolio exceeded $1 billion for the first time.
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Medallion Revenue by Segment
Forward Guidance
Medallion Financial Corp. did not provide specific forward guidance in the press release. The release focuses on historical performance and recent strategic decisions.