Medallion financial corp (MFIN)
Income statement / Yearly
Dec'19Dec'18Dec'17Dec'16
Interest and fees on loans

-

95,080

1,729

-

Interest and dividends on investment securities

-

1,644

-

-

Medallion lease income

-

133

-

-

Interest income on investments

-

3,287

-

-

Interest income

132,562

-

-

-

Dividends and interest income on short-term investments

-

0

-

-

Total interest income

-

100,836

-

-

Interest on deposits

-

14,230

-

-

Interest on short-term borrowings

-

4,441

-

-

Interest on long-term debt

-

6,145

-

-

Interest expense

-

3,551

-

-

Total interest expense

35,045

28,367

-

-

Net interest income

97,517

72,469

-

-

Provision for loan losses

47,386

59,008

-

-

Net interest income after provision for loan losses

50,131

13,461

-

-

Other income (loss)
Gain on deconsolidation of Trust III

-

25,325

-

-

Sponsorship and race winnings

18,742

14,368

-

-

Gain on sale of loans

-

4,946

-

-

Write-down of loan collateral in process of foreclosure

-

2,188

-

-

Impairment of equity investments

-

939

-

-

Gain on the extinguishment of debt

4,145

-

-

-

Other income

-

494

-

-

Total other income (loss), net

-

42,006

-

-

Other expenses
Salaries and employee benefits

-

21,706

-

-

Professional fees

-

9,332

-

-

Race team related expenses

8,996

7,121

-

-

Loan servicing fees

-

3,470

-

-

Collection costs

-

5,207

-

-

Rent expense

-

2,040

-

-

Regulatory fees

-

1,703

-

-

Amortization of intangible assets

1,446

1,083

-

-

Travel, meals, and entertainment

-

1,448

-

-

Intangible asset impairment

-

5,615

-

-

Other expenses

-

7,464

-

-

Total other expenses

-

66,189

-

-

Income (loss) before income taxes

2,337

-10,722

-

-

Income tax benefit

-

373

-

-

Net income (loss) after taxes

-

-11,095

-

-

Net realized losses on investments

-

-34,745

-

-

Income tax benefit

-

-8,426

-

-

Total net realized losses on investments

-

-26,319

-

-

Net change in unrealized appreciation on Medallion Bank and other controlled subsidiaries

-

29,115

-

-

Net change in unrealized depreciation on investments other than securities

-

1,915

-

-

Net change in unrealized appreciation (depreciation) on investments

-

4,403

-

-

Income tax (provision) benefit

-

8,122

-

-

Net unrealized appreciation on investments

-

14,675

-

-

Net realized/unrealized gains (losses) on investments

-

-11,644

-

-

Net income (loss) after taxes/net increase (decrease) on net assets resulting from operations

1,996

-22,739

-

-

Less: income attributable to the non-controlling interest

-

2,307

-

-

Total net income (loss) attributable to Medallion Financial Corp.

-

-25,046

-

-

Basic net income (loss) per share

-0.07

-1.03

0.01

0.97

Diluted net income (loss) per share

-0.07

-1.03

0.01

0.97

Weighted average common shares outstanding
Basic

24,342

24,214

23,919

24,123

Diluted

24,342

24,214

24,053

24,173

Bank Holding Company Accounting [Member]
Interest and fees on loans

130,167

-

-

-

Interest and dividends on investment securities

2,225

-

-

-

Medallion lease income

170

-

-

-

Total interest income /total investment income

132,562

-

-

-

Interest on deposits

22,521

-

-

-

Interest on short-term borrowings

3,242

-

-

-

Interest on long-term debt

9,282

-

-

-

Total interest expense

35,045

-

-

-

Net interest income/net investment income

97,517

-

-

-

Provision for loan losses

47,386

-

-

-

Net interest income after provision for loan losses

50,131

-

-

-

Sponsorship and race winnings, net

18,742

-

-

-

Writedown of loan collateral in process of foreclosure

4,381

-

-

-

Gain on the extinguishment of debt

4,145

-

-

-

Other income

1,881

-

-

-

Total other income, net

20,387

-

-

-

Salaries and employee benefits

24,971

-

-

-

Professional fees

7,402

-

-

-

Race team related expenses

8,996

-

-

-

Loan servicing fees

5,253

-

-

-

Collection costs

6,638

-

-

-

Rent expense

2,419

-

-

-

Regulatory fees

1,722

-

-

-

Amortization of intangible assets

1,446

-

-

-

Travel, meals, and entertainment

1,138

-

-

-

Other expenses

8,196

-

-

-

Total other expenses

68,181

-

-

-

Income (loss) before income taxes/net investment loss before taxes

2,337

-

-

-

Income tax (provision) benefit

341

-

-

-

Net income (loss) after taxes/net investment income (loss) after taxes

1,996

-

-

-

Net income (loss) after taxes/net increase (decrease) on net assets resulting from operations

1,996

-

-

-

Less: income attributable to the non-controlling interest

3,758

-

-

-

Total net income (loss) attributable to Medallion Financial Corp./net increase (decrease) on net assets resulting from operations

-1,762

-

-

-

Basic net income (loss) per share

-0.07

-

-

-

Diluted net income (loss) per share

-0.07

-

-

-

Basic

24,342

-

-

-

Diluted

24,342

-

-

-

Investment Company Accounting [Member]
Medallion lease income

-

-

198

538

Interest income

-

-

14,564

17,654

Dividends and interest income on short-term investments

-

-

878

81

Total interest income /total investment income

-

-

19,624

25,088

Interest expense

-

-

13,770

12,638

Total interest expense

-

-

13,770

12,638

Net interest income/net investment income

-

-

5,854

12,450

Net interest income after provision for loan losses

-

-

5,854

12,450

Other income

-

-

107

408

Total other income, net

-

-

107

408

Salaries and employee benefits

-

-

7,508

11,770

Professional fees

-

-

2,619

2,347

Collection costs

-

-

316

94

Rent expense

-

-

1,069

966

Travel, meals, and entertainment

-

-

750

964

Intangible asset impairment

-

-

-

5,099

Other expenses

-

-

1,548

1,546

Total other expenses

-

-

13,810

22,786

Income (loss) before income taxes/net investment loss before taxes

-

-

-7,849

-9,928

Income tax (provision) benefit

-

-

728

10,047

Net loss after taxes/net investment income (loss) after taxes

-

-

-7,121

119

Net realized losses on investments

-

-

-43,744

457

Income tax benefit

-

-

-15,955

384

Total net realized losses on investments

-

-

-27,789

73

Net change in unrealized appreciation on Medallion Bank and other controlled subsidiaries

-

-

9,483

130,121

Net change in unrealized depreciation on investments other than securities

-

-

2,060

28,372

Net change in unrealized appreciation (depreciation) on investments

-

-

-8,222

22,863

Income tax (provision) benefit

-

-

-19,543

55,563

Net unrealized appreciation on investments

-

-

35,188

23,323

Net realized/unrealized gains (losses) on investments

-

-

7,399

23,396

Net income (loss) after taxes/net increase (decrease) on net assets resulting from operations

-

-

278

23,515

Total net income (loss) attributable to Medallion Financial Corp./net increase (decrease) on net assets resulting from operations

-

-

278

23,515

Basic net income (loss) per share

-

-

0.01

0.97

Diluted net income (loss) per share

-

-

0.01

0.97

Distributions declared per share

-

-

-

0.35

Basic

-

-

23,919

24,123

Diluted

-

-

24,053

24,173

Controlled Subsidiary Investment [Member]
Dividend income from controlled subsidiaries

-

28

-

-

Interest income

-

10

-

-

Affiliate Investment [Member]
Interest income

-

654

-

-