Medallion Q4 2021 Earnings Report
Key Takeaways
Medallion Financial Corp. reported a strong fourth quarter and record full-year results, driven by consumer and commercial lending segments. Net income for the quarter was $19.5 million, or $0.78 per share, compared to $6.5 million, or $0.26 per share, in the prior year quarter. The company's Board of Directors reinstated the quarterly dividend for the first time in over five years.
Net income was $19.5 million, or $0.78 per share, compared to net income of $6.5 million, or $0.26 per share, in the prior year quarter.
Net interest income grew 25.1% to $35.6 million from $28.5 million in the prior year quarter.
Loan originations increased 91.1% to $192.6 million from $100.8 million in the prior year quarter.
The Company sold additional shares in a fintech investment for a gain of $5.4 million and sold a legacy investment, its NASCAR race team, for a gain of $0.7 million.
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Medallion Revenue by Segment
Forward Guidance
We believe with our team and the continued strength of our recreation, home improvement and commercial segments, we are well-positioned to continue our performance moving forward.