Manhattan Bridge Capital Q1 Net Income Falls 7.2% to $1.27M with $42K Buybacks
Manhattan Bridge Capital reported net income of $1.274 million ($0.11/sh) for Q1 2026, down 7.2% from $1.373 million ($0.12/sh) a year earlier. Total revenues dropped 9.1% to $2.068 million due to lower loan balances and origination fees, partially offset by reduced interest expense, and equity stood at $43.106 million after repurchasing 9,300 shares for $42,000.
1. Q1 Financial Performance
Manhattan Bridge Capital posted net income of $1,274,000 for the quarter ended March 31, 2026, or $0.11 per share on 11.4 million weighted-average shares, versus $1,373,000, or $0.12 per share, in Q1 2025. Total revenues declined 9.1% to $2,068,000 from $2,274,000 in the prior year period.
2. Revenue and Expense Drivers
Interest income on secured commercial loans fell to $1,699,000 from $1,834,000, and origination fees dropped to $368,000 from $440,000, reflecting reduced loan origination activity and lower outstanding loan balances. These declines were partly offset by a decrease in interest expense driven by lower average borrowings under the credit facility and reduced SOFR rates.
3. Share Repurchase and Equity Position
As of March 31, 2026, the company’s board-authorized buyback program had repurchased 9,300 shares at an aggregate cost of $42,000, including 3,100 shares during Q1. Total stockholders' equity stood at $43,106,000, reflecting the ongoing capital return to shareholders.