Consolidated Statement of Income - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Interest and fees on loans		$ 35,324,000	$ 31,313,000	$ 70,343,000	$ 60,752,000
Interest and dividends on investment securities		264,000	669,000	734,000	1,235,000
Medallion lease income			33,000	53,000	71,000
Total interest income	[1]	35,588,000	32,015,000	71,130,000	62,058,000
Interest on deposits		5,920,000	5,485,000	11,861,000	10,406,000
Interest on short-term borrowings		481,000	904,000	1,045,000	1,886,000
Interest on long-term debt		2,434,000	2,432,000	4,929,000	4,251,000
Total interest expense	[2]	8,835,000	8,821,000	17,835,000	16,543,000
Net interest income		26,753,000	23,194,000	53,295,000	45,515,000
Provision for loan losses		16,941,000	15,171,000	33,482,000	28,514,000
Net interest income after provision for loan losses		9,812,000	8,023,000	19,813,000	17,001,000
Other income (loss)
Sponsorship and race winnings		3,626,000	4,889,000	6,199,000	8,068,000
Write-down of loan collateral in process of foreclosure		(983,000)	(1,972,000)	(7,269,000)	(4,091,000)
Impairment of equity investments		(1,000)		(3,560,000)
Gain on the extinguishment of debt					4,145,000
Other income (loss)		614,000	(1,234,000)	906,000	424,000
Total other income (loss), net		3,256,000	1,683,000	(3,724,000)	8,546,000
Other expenses
Salaries and employee benefits		6,702,000	6,321,000	13,635,000	11,662,000
Professional fees		1,319,000	2,048,000	4,908,000	3,684,000
Race team related expenses		1,818,000	2,550,000	3,948,000	4,548,000
Loan servicing fees		1,729,000	1,293,000	3,341,000	2,487,000
Collection costs		1,461,000	2,253,000	2,690,000	2,891,000
Rent expense		631,000	577,000	1,328,000	1,177,000
Regulatory fees		236,000	448,000	601,000	895,000
Amortization of intangible assets		361,000	362,000	722,000	723,000
Travel, meals, and entertainment		32,000	205,000	240,000	470,000
Other expenses		1,897,000	2,127,000	4,044,000	4,349,000
Total other expenses		16,186,000	18,184,000	35,457,000	32,886,000
Loss before income taxes		(3,118,000)	(8,478,000)	(19,368,000)	(7,339,000)
Income tax benefit		853,000	1,835,000	4,102,000	2,091,000
Net loss after taxes		(2,265,000)	(6,643,000)	(15,266,000)	(5,248,000)
Less: income attributable to the non-controlling interest		1,712,000	857,000	2,354,000	1,024,000
Total net loss attributable to Medallion Financial Corp.		$ (3,977,000)	$ (7,500,000)	$ (17,620,000)	$ (6,272,000)
Basic net loss per share		$ (0.16)	$ (0.31)	$ (0.72)	$ (0.26)
Diluted net loss per share		$ (0.16)	$ (0.31)	$ (0.72)	$ (0.26)
Weighted average common shares outstanding
Basic		24,444,677	24,359,280	24,423,225	24,323,967
Diluted		24,444,677	24,359,280	24,423,225	24,323,967

[1] Included in interest and investment income is $341 and $634 of paid-in-kind interest for the three and six months ended June 30, 2020, and $188 and $425 for the three and six months ended June 30, 2019.

[2] Average borrowings outstanding were $1,290,318 and $1,227,413, and the related average borrowing costs were 2.75% and 2.92%, for the three and six months ended June 30, 2020, and were $1,127,509 and $1,108,512 and 3.14% and 3.01% for the three and six months ended June 30, 2019.