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Jun 30, 2021
Medallion Q2 2021 Earnings Report
Medallion Financial Corp. achieved a profitable quarter, driven by Medallion Bank's record net income and growth in consumer lending segments.
Key Takeaways
Medallion Financial Corp. reported a net income of $10.3 million, or $0.41 per share, a significant improvement compared to the net loss of $4.0 million in the prior year quarter. Medallion Bank's net income reached a record $17.5 million, and the consumer and commercial lending segments saw increased net income. The company is focused on investing in its consumer business and minimizing its risk profile.
Net income was $10.3 million, or $0.41 per share, compared to a net loss of $4.0 million, or $0.16 per share, in the prior year quarter.
Medallion Bank net income was a record $17.5 million for the quarter, compared to $1.8 million in the prior year quarter.
Net interest income grew 10.1% to $29.5 million, primarily reflecting the contribution from the consumer lending segments, compared to $26.8 million in the 2020 quarter.
Consumer loan originations were up 31% from the prior year quarter to $197.5 million.
Revenue by Segment
Forward Guidance
Medallion Financial Corp. concluded one of its most profitable quarters ever, driven by the strength of its Medallion Bank subsidiary. The foundation and strategy are in place as the company continues to strive for shareholder value over the years ahead.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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