| Dec'19 | Dec'18 | Dec'17 | Dec'16 | |||
|---|---|---|---|---|---|---|
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||
Net income (loss) | ||||||
1,996 | -22,739 | - | - | |||
Adjustments to reconcile net loss from operations to net cash provided by operating activities: | ||||||
Provision for loan losses | ||||||
47,386 | 59,008 | - | - | |||
Paid-in-kind interest | ||||||
834 | 1,869 | - | - | |||
Depreciation and amortization | ||||||
7,499 | 5,564 | - | - | |||
(Decrease) increase in deferred and other tax liabilities | ||||||
853 | 13,637 | - | - | |||
Amortization of origination fees, net | ||||||
-4,952 | -3,132 | -68 | -49 | |||
Net change in loan collateral in process of foreclosure | ||||||
-11,838 | -9,926 | - | - | |||
Net realized losses on investments | ||||||
1,820 | 5,921 | - | - | |||
Net change in unrealized depreciation (appreciation) on investments | ||||||
1,734 | 6,457 | - | - | |||
Stock-based compensation expense | ||||||
1,221 | 576 | - | - | |||
Gain on deconsolidation of Trust III | ||||||
- | 25,325 | - | - | |||
Gain on extinguishment of debt | ||||||
4,145 | - | - | - | |||
Intangible asset impairment | ||||||
- | 5,615 | - | - | |||
Decrease in accrued interest receivable | ||||||
1,249 | -797 | - | - | |||
(Increase) decrease in other assets | ||||||
-2,838 | -1,309 | - | - | |||
Increase (decrease) in accounts payable and accrued expenses | ||||||
-8,024 | -675 | - | - | |||
Decrease in accrued interest payable | ||||||
690 | 139 | - | - | |||
Loans originated | ||||||
- | 8,193 | - | - | |||
Proceeds from principal receipts, sales, and maturities of loans | ||||||
- | -13,279 | - | - | |||
Capital returned by Medallion Bank and other controlled subsidiaries, net | ||||||
- | 93 | - | - | |||
Net change in unrealized depreciation on investment other than securities | ||||||
- | 1,915 | - | - | |||
Increase in unrealized appreciation on Medallion Bank and other controlled subsidiaries | ||||||
- | 29,115 | - | - | |||
Net realized losses on investments | ||||||
- | -34,745 | - | - | |||
Increase in other liabilities | ||||||
- | 4,196 | - | - | |||
Net cash provided by operating activities | ||||||
64,935 | 66,551 | - | - | |||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||
Loans originated | ||||||
471,069 | 333,740 | - | - | |||
Proceeds from principal receipts, sales, and maturities of loans | ||||||
251,653 | 302,409 | - | - | |||
Purchases of investments | ||||||
10,507 | 10,376 | - | - | |||
Proceeds from principal receipts, sales, and maturities of investments | ||||||
7,119 | 6,417 | - | - | |||
Proceeds from the sale of loan collateral in process of foreclosure | ||||||
16,294 | 11,593 | - | - | |||
Net cash used for investing activities | ||||||
-206,510 | -23,697 | - | - | |||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||
Proceeds from time deposits and funds borrowed | ||||||
525,842 | 364,139 | - | - | |||
Repayments of time deposits and funds borrowed | ||||||
414,277 | 389,951 | - | - | |||
Purchase of federal funds | ||||||
4,000 | 8,000 | - | - | |||
Repayments of federal funds | ||||||
4,000 | 8,000 | - | - | |||
Non-controlling interest equity raised by Medallion Bank | ||||||
42,485 | - | - | - | |||
Distributions to non-controlling interests | ||||||
2,367 | 1,776 | - | - | |||
Payments of declared distributions | ||||||
- | 66 | - | - | |||
Net cash provided by financing activities | ||||||
151,683 | -27,654 | - | - | |||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH | ||||||
10,108 | 15,200 | - | - | |||
SUPPLEMENTAL INFORMATION | ||||||
Cash paid during the period for interest | ||||||
32,008 | 25,102 | - | - | |||
Cash paid during the period for income taxes | ||||||
310 | 85 | - | - | |||
NON-CASH INVESTING | ||||||
Loans transferred to loan collateral in process of foreclosure | ||||||
31,348 | 32,125 | - | - | |||
Investment Company Accounting [Member] | ||||||
Net income (loss) after taxes/net increase (decrease) on net assets resulting from operations | ||||||
- | - | 278 | 23,515 | |||
Paid-in-kind interest | ||||||
- | - | 2,268 | 2,580 | |||
Depreciation and amortization | ||||||
- | - | 1,019 | 485 | |||
(Decrease) increase in deferred and other tax liabilities, net | ||||||
- | - | -33,364 | 45,900 | |||
Amortization of origination fees, net | ||||||
- | - | -68 | 49 | |||
Net change in unrealized (appreciation) depreciation on investments | ||||||
- | - | -8,222 | 22,863 | |||
Stock-based compensation expense | ||||||
- | - | 785 | 568 | |||
Intangible asset impairment | ||||||
- | - | - | 5,099 | |||
(Increase) decrease in accrued interest receivable | ||||||
- | - | -222 | -234 | |||
Decrease in other assets | ||||||
- | - | -122 | -804 | |||
Decrease in accounts payable and accrued expenses | ||||||
- | - | -907 | 353 | |||
Increase in accrued interest payable | ||||||
- | - | 949 | 1,580 | |||
Loans originated | ||||||
- | - | 29,131 | 324,753 | |||
Proceeds from principal receipts, sales, and maturities of loans | ||||||
- | - | -46,755 | -393,104 | |||
Capital returned by Medallion Bank and other controlled subsidiaries, net | ||||||
- | - | 696 | -3,326 | |||
Net change in unrealized depreciation on investment other than securities | ||||||
- | - | 2,060 | 28,372 | |||
Increase in unrealized appreciation on Medallion Bank and other controlled subsidiaries | ||||||
- | - | 9,483 | 130,121 | |||
Net realized losses on investments | ||||||
- | - | -43,744 | 457 | |||
Net cash provided by operating activities | ||||||
- | - | 13,323 | 61,591 | |||
Proceeds from time deposits and funds borrowed | ||||||
- | - | - | 294,650 | |||
Repayments of time deposits and funds borrowed | ||||||
- | - | 21,450 | 350,116 | |||
Proceeds from exercise of stock options | ||||||
- | - | - | 19 | |||
Purchase of treasury stock | ||||||
- | - | - | 1,524 | |||
Payments of declared distributions | ||||||
- | - | 145 | 14,570 | |||
Net cash provided by (used for) financing activities | ||||||
- | - | -21,595 | -71,541 | |||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | ||||||
- | - | -8,272 | -9,950 | |||
Cash paid during the period for interest | ||||||
- | - | 11,897 | 10,682 | |||
Cash paid during the period for income taxes | ||||||
- | - | 62 | - | |||
Medallion Bank [Member] | ||||||
Net income (loss) after taxes/net increase (decrease) on net assets resulting from operations | ||||||
- | - | 56,408 | 68,045 | |||
Amortization (accretion) of origination fees, net | ||||||
- | - | 3,581 | 3,440 | |||