Medallion Financial unit Medallion Bank Q2 net income slips to $16 million - MFIN News | RalliesMedallion Financial unit Medallion Bank Q2 net income slips to $16 million
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MFIN• Medallion Bank posts lower quarterly profit as lending and credit costs move higher
- Medallion Financial’s wholly owned Medallion Bank posted Q2 2026 net income of $16 million, down from $17.3 million a year earlier.
- Net interest income rose to $58.1 million from $53.6 million; net interest margin slipped to 8.46% from 8.55%.
- Provision for credit losses increased to $21.6 million from $18.7 million; annualized net charge-offs improved to 2.56% from 2.66%.
- Recreation loan originations jumped 60% to $228.5 million; home improvement originations surged 137% to $128.6 million.
- The board declared a $0.5625 quarterly dividend on Series G preferred stock, payable Oct. 1 to holders of record Sept. 15.
