Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Data

The following table presents segment data as of and for the three months ended March 31, 2025.

Three Months Ended March 31, 2025	Consumer Lending
(Dollars in thousands)	Recreation			Home Improvement			Commercial Lending			Taxi Medallion Lending			Corporate and Other Investments			Consolidated
Total interest income	$	50,466		$	19,771		$	3,343		$	80		$	1,765		$	75,425
Total interest expense		12,041			6,964			1,053			12			3,943			24,013
Net interest income (loss)		38,425			12,807			2,290			68			(2,178	)		51,412
Provision (benefit) for credit losses		16,870			2,845			3,114			(815	)		—			22,014
Net interest income (loss) after credit loss provision		21,555			9,962			(824	)		883			(2,178	)		29,398
Other income, net		400			2			9,642			844			711			11,599
Operating expenses		(9,964	)		(4,984	)		(1,473	)		(983	)		(3,354	)		(20,758	)
Net income (loss) before taxes		11,991			4,980			7,345			744			(4,821	)		20,239
Income tax (provision) benefit		(3,977	)		(1,652	)		(2,436	)		(247	)		1,599			(6,713	)
Net income (loss) after taxes	$	8,014		$	3,328		$	4,909		$	497		$	(3,222	)	$	13,526
Income attributable to the non-controlling interest																	1,512
Total net income attributable to Medallion Financial Corp.																$	12,014
Balance Sheet Data
Total loans, gross (1)	$	1,545,844		$	812,381		$	116,059		$	1,650		$	10,499		$	2,486,433
Total assets		1,495,150			795,868			109,565			6,855			440,300			2,847,738
Total funds borrowed		1,229,818			654,632			90,121			5,638			362,164			2,342,373
Selected Financial Ratios
Return on average assets		2.17	%		1.68	%		18.45	%		30.14	%		(2.94	)%		1.93	%
Return on average stockholders' equity	*			*			*			*			*				12.96
Return on average equity		13.37			10.33			113.46			185.45			(18.04	)		12.32
Interest yield		13.27			9.78			12.05			19.12		NM				11.65
Net interest margin, gross		10.10			6.33			8.25			16.25		NM				7.94
Net interest margin, net of allowance		10.59			6.50			8.71			21.87		NM				8.25
Reserve coverage (2)		5.00			2.49			7.04			23.32		NM				4.25
Delinquency status (3)		0.48			0.19			17.63			—		NM				1.20
Charge-off (recovery) ratio (4)		4.67			1.55			0.47			(157.97	)	NM				3.10

(1) Inclusive of recreation and strategic partnership loans held for sale, at lower of amortized cost or fair value.

(2) Allowance for credit loss as a percent of gross loans held for investment and excludes loans held for sale.

(3) Loans 90 days or more past due as a percent of total loans.

(4) Charge-off ratio in the recreation lending segment was 4.32% when including loans held for sale.

(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, 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 credit loss provision		17,252			10,915			2,331			1,056			(838	)		30,716
Other income, net		250			2			4,202			639			310			5,403
Operating 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, gross	$	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 (1)		4.40			2.38			4.11			42.19		NM				3.76
Delinquency status (2)		0.48			0.18			7.80			—		NM				0.74
Charge-off (recovery) ratio (3)		4.36			2.12			(0.07	)		(101.47	)	NM				3.20

(1) Allowance for credit loss as a percent of gross loans held for investment and excludes loans held for sale.

(2) Loans 90 days or more past due as a percent of total loans.

(3) Net charge-offs as a percent of annual average total gross loans.

(NM) Not meaningful.

(*) Line item is not applicable to segments.