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Dec 31, 2024
Medallion Q4 2024 Earnings Report
Medallion Financial Corp. reported mixed results with increased loan originations but decreased net income compared to the prior year quarter.
Key Takeaways
Medallion Financial Corp. announced its Q4 2024 results, featuring a 69% increase in loan originations but a decrease in net income due to lower taxi medallion recoveries and increased credit loss provisions. The company's net interest income grew, and the board increased the quarterly dividend by 10%.
Net income decreased to $10.1 million, or $0.43 per share, from $14.3 million, or $0.60 per share, in the prior year quarter.
Net interest income increased by 6% to $52.0 million year-over-year.
Loan originations surged by 69% to $285.7 million compared to the prior year quarter.
The Board of Directors raised the quarterly dividend by 10% to $0.11 per share.
Medallion
Medallion
Forward Guidance
Medallion Financial Corp. is optimistic about 2025, citing record total interest income, net interest income, assets, strategic partnership loan volume, and total equity as indicators of a strong position for future performance.
Positive Outlook
- Well-positioned for 2025 and the years ahead.
- Record total interest income.
- Record net interest income.
- Record total assets.
- Record strategic partnership loan volume.