Medallion Financial Corp (OQ:MFIN)
Business Focus: Commercial Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 437 Madison Ave 38 Th Floor NEW YORK NY 10022 |
| Tel: | N/A |
| Website: | www.medallion.com |
| IR: | See website |
| Key People | ||
| Alvin Murstein Chairman of the Board, Chief Executive Officer | Andrew M. Murstein President, Chief Operating Officer, Director | Anthony N. Cutrone Chief Financial Officer, Executive Vice President |
| Donald S. Poulton Chief Executive Officer and President of Medallion Bank | Marisa T. Silverman Executive Vice President, Chief Compliance Officer, General Counsel, Secretary | D. Justin Haley Executive Vice President and Chief Financial Officer of Medallion Bank | Thomas John Munson Executive Vice President, Chief Credit Officer |
| Business Overview |
| Medallion Financial Corp. is a specialty finance company, which is focused on consumer finance and commercial lending businesses. The Company provides loans to individuals and small to mid-size businesses, through its subsidiaries. The Company operates through four segments: loans that finance consumer purchases of recreational vehicles, boats, and other consumer recreational equipment; loans that finance consumer home improvements; loans that finance commercial businesses; and historically, loans that finance taxi medallions. The Company's wholly owned subsidiaries include Medallion Bank (the Bank), Medallion Capital, Inc., Medallion Funding LLC, and Freshstart Venture Capital Corp. The Bank is a federal deposit insurance corporation (FDIC), which insured industrial bank that originates consumer loans, raises deposits, and conducts other banking activities. Medallion Capital, Inc. is a small business investment company (SBIC), which conducts a mezzanine financing business. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Medallion Financial Corp interest income increased 28% to $251M. Net interest income after loan loss provision increased 15% to $150.3M. Net income increased 26% to $55.1M. Net interest income after loan loss provision reflects Medallion Lending segment increase from $6.6M to $27.8M, Commercial lending segment increase from $345K to $7.1M. |
| Employees: | 169 as of Dec 31, 2023 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $373.89M as of Dec 31, 2023 |
| Annual revenue (TTM): | $251.04M as of Dec 31, 2023 |
| EBITDA (TTM): | $106.44M as of Dec 31, 2023 |
| Net annual income (TTM): | $55.08M as of Dec 31, 2023 |
| Free cash flow (TTM): | $106.06M as of Dec 31, 2023 |
| Net Debt Last Fiscal Year: | $190.95M as of Dec 31, 2023 |
| Shares outstanding: | 23,483,564 as of Mar 6, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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