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Dec 31, 2020
Medallion Q4 2020 Earnings Report
Medallion Financial Corp.'s Q4 2020 results showed a significant increase in net income and strong performance in consumer and commercial lending segments.
Key Takeaways
Medallion Financial Corp. reported a net income of $6.5 million, or $0.26 per share, for the fourth quarter of 2020, compared to a net loss of $0.5 million, or $0.02 per share, in the prior year quarter. Net interest income increased by 7.1% to $28.5 million, and net income from consumer and commercial lending segments rose by 97% to $14.2 million. Medallion Bank's Tier 1 leverage ratio stood at 16.93% at quarter-end, with total assets at $1.6 billion.
Net income was $6.5 million, or $0.26 per share, compared to a net loss of $0.5 million, or $0.02 per share, in the prior year quarter.
Net interest income increased 7.1% to $28.5 million.
Net income from consumer and commercial lending segments increased 97% to $14.2 million.
Medallion Bank’s Tier 1 leverage ratio at quarter-end was 16.93%.
Revenue by Segment
Forward Guidance
Medallion Financial is focused on building on the momentum of its consumer segments and expanding its fintech Strategic Partnership Program at Medallion Bank.
Positive Outlook
- Application volumes remained high.
- Growth continued in consumer segments.
- Net-charge offs remained low.
- Fintech Strategic Partnership Program volume was up in January.
- Second partnership is expected to be signed in the next 60 days.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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