Medallion Bank Q3 net income falls to $11.8 million
MFIN•Medallion Bank reported third-quarter 2026 net income of $11.85 million, down from $19.84 million a year earlier, as credit-loss provisions increased. The bank declared a $0.5625-per-share quarterly dividend on its Series G preferred stock, payable January 4, 2027.
1. Quarterly results
Medallion Bank, a wholly owned subsidiary of Medallion Financial, posted third-quarter 2026 net income of $11.85 million, compared with $19.84 million a year earlier. Credit-loss provisions rose to $29.84 million from $17.2 million, and annualized net charge-offs increased to 2.83% from 2.28%. Net interest income rose to $60 million from $55.71 million, while net interest margin narrowed to 8.03% from 8.61%.
2. Preferred dividend
The bank declared a quarterly dividend of $0.5625 per share on its Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G. It is payable January 4, 2027, to shareholders of record December 15, 2026.
