Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Schedule of Segment Data

The following table presents segment data as of and for the three months ended March 31, 2024.

Three Months Ended March 31, 2024	Consumer Lending
(Dollars in thousands)	Recreation			Home Improvement			Commercial Lending			Taxi Medallion Lending			Corporate and Other Investments			Consolidated
Total interest income	$	43,927		$	17,447		$	3,645		$	140		$	1,911		$	67,070
Total interest expense		9,645			5,634			1,098			28			2,748			19,153
Net interest income (loss)		34,282			11,813			2,547			112			(837	)		47,917
Provision (benefit) for credit losses		17,030			898			216			(944	)		1			17,201
Net interest income (loss) after loss provision		17,252			10,915			2,331			1,056			(838	)		30,716
Other income		250			2			4,202			639			310			5,403
Other expenses		(8,287	)		(4,114	)		(985	)		(743	)		(4,096	)		(18,225	)
Net income (loss) before taxes		9,215			6,803			5,548			952			(4,624	)		17,894
Income tax (provision) benefit		(3,274	)		(2,417	)		(1,971	)		(338	)		1,642			(6,358	)
Net income (loss) after taxes	$	5,941		$	4,386		$	3,577		$	614		$	(2,982	)	$	11,536
Income attributable to the non-controlling interest																	1,512
Total net income attributable to Medallion Financial Corp.																$	10,024
Balance Sheet Data
Total loans	$	1,365,165		$	752,262		$	106,570		$	3,560		$	869		$	2,228,426
Total assets		1,322,761			738,551			102,331			8,611			446,508			2,618,762
Total funds borrowed		1,083,760			605,107			83,842			7,055			365,832			2,145,596
Selected Financial Ratios
Return on average assets		1.82	%		2.38	%		13.50	%		23.68	%		(2.78	)%		1.80	%
Return on average stockholders' equity	*			*			*			*			*				11.65
Return on average equity		11.44			14.93			84.71			148.65			(17.47	)		11.18
Interest yield		13.17			9.28			12.99			15.59		NM				11.34
Net interest margin, gross		10.28			6.28			9.08			12.47		NM				8.10
Net interest margin, net of allowance		10.75			6.45			9.43			21.57		NM				8.39
Reserve coverage		4.40			2.38			4.11			42.19		NM				3.76
Delinquency status (1)		0.48			0.18			7.80			—		NM				0.74
Charge-off (recovery) ratio (2)		4.36			2.12			(0.07	)		(101.47	)	NM				3.20

(1)Loans 90 days or more past due.

(2)Negative balances indicate net recoveries for the period.

(NM) Not meaningful.

(*) Line item is not applicable to segments.

The following table presents segment data as of and for the three months ended March 31, 2023.

Three Months March 31, 2023	Consumer Lending
(Dollars in thousands)	Recreation			Home Improvement			Commercial Lending			Taxi Medallion Lending			Corporate and Other Investments			Consolidated
Total interest income	$	37,899		$	13,649		$	2,701		$	310		$	1,284		$	55,843
Total interest expense		5,904			3,279			809			67			2,181			12,240
Net interest income (loss)		31,995			10,370			1,892			243			(897	)		43,603
Provision (benefit) for credit losses		7,751			3,081			327			(7,084	)		(37	)		4,038
Net interest income (loss) after loss provision		24,244			7,289			1,565			7,327			(860	)		39,565
Other income		—			1			271			1,620			191			2,083
Other expenses		(7,803	)		(3,994	)		(420	)		(2,027	)		(4,149	)		(18,393	)
Net income (loss) before taxes		16,441			3,296			1,416			6,920			(4,818	)		23,255
Income tax (provision) benefit		(4,513	)		(905	)		(389	)		(1,899	)		1,324			(6,382	)
Net income (loss) after taxes	$	11,928		$	2,391		$	1,027		$	5,021		$	(3,494	)	$	16,873
Income attributable to the non-controlling interest																	1,512
Total net income attributable to Medallion Financial Corp.																$	15,361
Balance Sheet Data
Total loans, gross	$	1,213,380		$	669,642		$	95,329		$	4,059		$	1,770		$	1,984,180
Total assets		1,179,965			660,846			101,392			20,335			389,132			2,351,670
Total funds borrowed		961,561			538,527			82,625			16,571			317,106			1,916,390
Selected Financial Ratios
Return on average assets		4.14	%		1.52	%		4.11	%		90.53	%		(3.79	)%		2.99	%
Return on average stockholders' equity	*			*			*			*			*				20.72
Return on average equity		25.63			9.37			25.39			558.90			(23.42	)		18.50
Interest yield		12.87			8.54			11.53			11.78		NM				10.78
Net interest margin, gross		10.86			6.49			8.08			9.23		NM				8.42
Net interest margin, net of allowance		11.33			6.62			8.32			28.89		NM				8.71
Reserve coverage		4.12			2.19			3.71			53.07		NM				3.54
Delinquency status (1)		0.36			0.07			0.08			—		NM				0.24
Charge-off ratio (2)		3.48			0.82			(0.16	)		29.84		NM				2.35

(1)Loans 90 days or more past due.

(2)Negative balances indicate net recoveries for the period.

(NM) Not meaningful.

(*) Line item is not applicable to segments.