Segment Reporting (Tables)

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Schedule of Segment Data

The following table presents segment data as of and for the year ended December 31, 2022.

Year Ended December 31, 2022	Consumer Lending
(Dollars in thousands)	Recreation			Home Improvement			Commercial Lending			Medallion Lending			Corporate and Other Investments			Consolidated
Total interest income	$	139,145		$	44,703		$	9,348		$	632		$	2,793		$	196,621
Total interest expense		17,932			7,697			3,040			508			7,008			36,185
Net interest income (loss)		121,213			37,006			6,308			124			(4,215	)		160,436
Provision (benefit) for loan losses		22,802			7,616			5,963			(6,474	)		152			30,059
Net interest income (loss) after loss provision		98,411			29,390			345			6,598			(4,367	)		130,377
Other expense, net		(30,463	)		(13,500	)		(1,604	)		(6,179	)		(10,781	)		(62,527	)
Net income (loss) before taxes		67,948			15,890			(1,259	)		419			(15,148	)		67,850
Income tax (provision) benefit		(17,989	)		(4,207	)		333			(111	)		4,011			(17,963	)
Net income (loss) after taxes		49,959			11,683			(926	)		308			(11,137	)		49,887
Income attributable to the non-controlling interest																	6,047
Total net income attributable to Medallion Financial Corp.																$	43,840
Balance Sheet Data
Total loans net	$	1,141,546		$	615,059		$	91,850		$	4,081		$	572		$	1,853,108
Total assets		1,154,680			618,923			101,447			24,648			360,181			2,259,879
Total funds borrowed		936,789			502,131			82,304			19,997			292,214			1,833,435
Selected Financial Ratios
Return on average assets		4.71	%		2.23	%		(0.90	)%		0.74	%		(3.12	)%		2.40	%
Return on average equity		26.83			12.72			(5.28	)		4.03			(18.62	)		13.74
Return on average stockholders' equity	*			*			*			*			*				14.92
Interest yield		13.28			8.64			10.78			14.05		N/A				11.06
Net interest margin		11.57			7.16			7.28			2.76		N/A				9.05
Reserve coverage		3.55			1.81			1.13			69.93		N/A				3.33
Delinquency status(1)		0.64			0.09			0.08			6.52		N/A				0.47
Charge-off ratio(2)		1.27			0.70			6.96			(145.76	)	N/A				0.99

(1)Loans 90 days or more past due.

(2)Negative balances indicate recoveries for the period

(*) Line item is not applicable to segments.

The following table presents segment data as of and for the year ended December 31, 2021.

Year Ended December 31, 2021	Consumer Lending
(Dollars in thousands)	Recreation			Home Improvement			Commercial Lending			Medallion Lending			RPAC (2)			Corporate and Other Investments			Consolidated
Total interest income (loss)	$	118,305		$	34,204		$	6,592		$	(1,483	)	$	—		$	1,348		$	158,966
Total interest expense		9,993			4,153			2,720			5,914			546			7,814			31,140
Net interest income (loss)		108,312			30,051			3,872			(7,397	)		(546	)		(6,466	)		127,826
Provision (benefit) for loan losses		7,671			2,750			—			(7,752	)		—			1,953			4,622
Net interest income (loss) after loss provision		100,641			27,301			3,872			355			(546	)		(8,419	)		123,204
Sponsorship and race winnings		—			—			—			—			12,567			—			12,567
Race team related expenses		—			—			—			—			(9,559	)		—			(9,559	)
Other income (expense), net		(30,156	)		(11,640	)		3,101			(1,991	)		(5,108	)		1,453			(44,341	)
Net income (loss) before taxes		70,485			15,661			6,973			(1,636	)		(2,646	)		(6,966	)		81,871
Income tax (provision) benefit		(18,699	)		(4,155	)		(1,850	)		433			(1,498	)		1,552			(24,217	)
Net income (loss) after taxes		51,786			11,506			5,123			(1,203	)		(4,144	)		(5,414	)		57,654
Income attributable to the non-controlling interest																				3,546
Total net income attributable to Medallion Financial Corp.																			$	54,108
Balance Sheet Data
Total loans net	$	928,885		$	429,416		$	73,713		$	4,812		$	—		$	1,932		$	1,438,758
Total assets		896,223			371,781			103,631			42,011			—			459,411			1,873,057
Total funds borrowed		710,616			294,786			82,169			69,221			—			328,358			1,485,150
Selected Financial Ratios
Return on average assets		6.00	%		3.01	%		5.85	%		(1.15	)%		20.35	%		(1.89	)%		3.33	%
Return on average equity		30.01			15.04			29.23			(5.75	)		885.29			(13.62	)		17.64
Return on average stockholders' equity	*			*			*			*			*			*				21.24
Interest yield		13.94			9.30			10.41			(18.77	)	N/A			N/A				11.48
Net interest margin		12.76			8.17			6.12			(93.60	)	N/A			N/A				9.26
Reserve coverage		3.37			1.68			1.49			65.74		N/A			N/A				3.37
Delinquency status(1)		0.41			0.03			0.10			—		N/A			N/A				0.28
Charge-off ratio		0.30			0.15			—			95.40		N/A			N/A				0.85

(1)Loans 90 days or more past due.

(2)The Company sold its interest in RPAC in December 2021. Selected earnings data are applicable through the date of sale.

(*) Line item is not applicable to segments.

The following table presents segment data as of and for the year ended December 31, 2020.

Year Ended December 31, 2020	Consumer Lending
(Dollars in thousands)	Recreation			Home Improvement			Commercial Lending			Medallion Lending			RPAC			Corporate and Other Investments			Consolidated
Total interest income (loss)	$	110,706		$	27,273		$	6,926		$	(1,518	)	$	—		$	1,575		$	144,962
Total interest expense		13,013			5,699			2,538			3,610			163			9,128			34,151
Net interest income (loss)		97,693			21,574			4,388			(5,128	)		(163	)		(7,553	)		110,811
Provision for loan losses		23,736			3,778			—			42,276			—			27			69,817
Net interest income (loss) after loss provision		73,957			17,796			4,388			(47,404	)		(163	)		(7,580	)		40,994
Sponsorship and race winnings		—			—			—			—			20,042			—			20,042
Race team related expenses		—			—			—			—			(8,366	)		—			(8,366	)
Other expense, net		(27,341	)		(9,611	)		(3,196	)		(30,366	)		(7,973	)		(11,164	)		(89,651	)
Net income (loss) before taxes		46,616			8,185			1,192			(77,770	)		3,540			(18,744	)		(36,981	)
Income tax (provision) benefit		(12,004	)		(2,108	)		(299	)		19,520			(889	)		5,854			10,074
Net income (loss) after taxes		34,612			6,077			893			(58,250	)		2,651			(12,890	)		(26,907	)
Income attributable to the non-controlling interest																				7,876
Total net loss attributable to Medallion Financial Corp.																			$	(34,783	)
Balance Sheet Data
Total loans net	$	765,338		$	328,876		$	62,037		$	12,725		$	—		$	3,314		$	1,172,290
Total assets		777,605			340,494			80,622			124,554			33,711			285,425			1,642,411
Total funds borrowed		621,735			272,284			65,924			98,636			8,689			244,987			1,312,255
Selected Financial Ratios
Return on average assets		4.59	%		2.07	%		1.07	%		(33.21	)%		7.98	%		(5.06	)%		(1.67	)%
Return on average equity		22.93			10.35			5.17			(165.21	)		(363.66	)		(23.29	)		8.43
Return on average stockholders' equity	*			*			*			*			*			*				(14.06	)
Interest yield		14.90			9.66			10.51			(2.11	)	N/A			N/A				11.32
Net interest margin		13.15			7.62			6.66			(7.14	)	N/A			N/A				8.65
Reserve coverage		3.45			1.54			0.00			66.31		N/A			N/A				4.68
Delinquency status(1)		0.70			0.05			0.11			3.57		N/A			N/A				0.57
Charge-off ratio		1.95			0.44			0.04			59.38		N/A			N/A				5.00

(1)Loans 90 days or more past due.

(*) Line item is not applicable to segments.