MEDALLION FINANCIAL CORP

Medallion Financial Corp. (NASDAQ: MFIN) operates as a specialty finance company providing consumer and commercial lending through its subsidiaries. The company's website is www.medallionfinancial.com. As of December 31, 2025, Medallion Financial maintains total assets of $2.96 billion and employs 179 people across its operations.

The company conducts business through several wholly-owned subsidiaries, including Medallion Bank, a federally insured industrial bank; Medallion Capital, Inc., a Small Business Investment Company focused on mezzanine financing; Medallion Funding LLC, an SBIC historically specializing in taxi medallion lending; and Freshstart Venture Capital Corp., which originates and services various loan types.

Medallion Financial operates four primary lending segments. Recreation lending represents the largest segment at 63 percent of loans receivable, financing purchases of recreational vehicles, boats, collector cars, and other recreational equipment through relationships with approximately 3,400 dealers and financial service providers. Home improvement lending comprises 32 percent of loans receivable, offering financing for window replacement, roofing, pool installations, and similar projects through approximately 700 contractors and financial service providers. Commercial lending accounts for 5 percent of loans receivable, providing subordinated loans to lower middle market businesses ranging from $2.5 million to $6.0 million. Taxi medallion lending represents less than 0.2 percent of assets, concentrated in the New York City metropolitan area.

The company's strategic focus emphasizes disciplined underwriting, maintaining relationships with dealers and contractors, leveraging experienced management expertise, and pursuing strategic acquisitions and partnerships. Recreation loans carry a weighted average yield of 13.37 percent, while home improvement loans yield 9.95 percent. The company funds its lending operations through brokered certificates of deposit, privately placed notes, SBA debentures, and other borrowings totaling $2.4 billion in outstanding debt.

Medallion Financial maintains a diversified loan portfolio with average loan sizes around $22,000 and geographic distribution across the United States, with concentrations in Texas and Florida. The company has completed eight specialty finance company acquisitions, five loan portfolio acquisitions, and three taxi rooftop advertising company acquisitions since its initial public offering in May 1996.