Medallion Financial Q3 net income falls 69% to $2.4 million
MFIN•Medallion Financial's third-quarter 2026 net income attributable to stockholders fell 69% year over year to $2.4 million, while loan originations rose 41% to $603.9 million. The board authorized a new $40 million stock repurchase program after quarter-end.
1. Quarterly results
Medallion Financial's third-quarter 2026 net income attributable to stockholders fell 69% year over year to $2.4 million, hurt by upfront loan-growth provisions. Net interest income rose 5% to $58.4 million, while the provision for credit losses climbed 66% to $30.8 million.
2. Loan growth and repurchases
Loan originations increased 41% year over year to $603.9 million, and home improvement originations more than doubled to $146.3 million. Subsequent to quarter-end, the board authorized a new $40 million stock repurchase program.
