Medallion Financial Q3 net income falls to $2.4 million, or $0.10 per share
Medallion Financial reported third-quarter 2026 net income attributable to stockholders of $2.4 million, or $0.10 per diluted share, down from $7.8 million, or $0.32, a year earlier. Net interest income rose 5% to $58.4 million and loan originations grew 41%, but the company said large upfront day-one loan loss provisions were a major reason earnings fell.
Key points
- Net income attributable to stockholders was $2.4 million, or $0.10 per diluted share, versus $7.8 million, or $0.32, in the prior-year quarter.
- Net interest income rose 5% to $58.4 million, while the provision for credit losses increased to $30.8 million from $18.6 million.
- Net interest margin fell to 7.34% from 8.21%; loan originations grew 41% to $603.9 million.
- On October 27, 2026, the board approved a new $40 million stock repurchase program; the quarterly dividend is $0.14 per share, payable November 19, 2026.
The filing
Written by AI on Nov 9, 2026, 8:29 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on October 29, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.