Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2025

Segment Reporting [Abstract]

Schedule of Segment Data

The following table presents segment data as of and for the three months ended June 30, 2025.

Three Months Ended June 30, 2025	Consumer Lending
(Dollars in thousands)	Recreation			Home Improvement			Commercial Lending			Taxi Medallion Lending			Corporate and Other Investments			Consolidated
Total interest income	$	51,101		$	20,133		$	3,755		$	72		$	2,381		$	77,442
Total interest expense		12,854			7,325			1,157			38			2,698			24,072
Net interest income (loss)		38,247			12,808			2,598			34			(317	)		53,370
Provision (benefit) for credit losses		15,336			3,934			2,912			(620	)		—			21,562
Net interest income (loss) after credit loss provision		22,911			8,874			(314	)		654			(317	)		31,808
Other income, net		1,366			3			6,358			748			734			9,209
Operating expenses		(10,036	)		(4,710	)		(1,409	)		(840	)		(4,550	)		(21,545	)
Net income (loss) before taxes		14,241			4,167			4,635			562			(4,133	)		19,472
Income tax (provision) benefit		(4,292	)		(1,232	)		(1,337	)		(168	)		1,224			(5,805	)
Net income (loss) after taxes	$	9,949		$	2,935		$	3,298		$	394		$	(2,909	)	$	13,667
Income attributable to the non-controlling interest																	2,598
Total net income attributable to Medallion Financial Corp.																$	11,069
Balance Sheet Data
Total loans, gross (1)	$	1,546,252		$	803,535		$	121,415		$	1,564		$	12,285		$	2,485,051
Total assets		1,493,721			787,432			111,961			6,009			480,871			2,879,994
Total funds borrowed		1,195,144			630,034			89,581			4,808			384,750			2,304,317
Selected Financial Ratios
Return on average assets		2.67	%		1.49	%		11.94	%		26.30	%		(2.53	)%		1.93	%
Return on average stockholders' equity	*			*			*			*			*				11.49
Return on average equity		15.59			8.68			69.66			142.23			(15.48	)		11.13
Interest yield		13.39			9.99			12.68			17.97		NM				11.75
Net interest margin, gross		10.02			6.35			8.78			8.49		NM				8.09
Net interest margin, net of allowance		10.53			6.52			9.49			10.95		NM				8.42
Reserve coverage (2)		5.05			2.54			9.14			21.62		NM				4.43
Delinquency status (3)		0.49			0.16			16.78			—		NM				1.19
Charge-off (recovery) ratio (4)		3.25			1.87			(0.03	)		(143.02	)	NM				2.44

(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 3.11% 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 six months ended June 30, 2025.

Six Months Ended June 30, 2025	Consumer Lending
(Dollars in thousands)	Recreation			Home Improvement			Commercial Lending			Taxi Medallion Lending			Corporate and Other Investments			Consolidated
Total interest income	$	101,567		$	39,904		$	7,098		$	152		$	4,146		$	152,867
Total interest expense		24,895			14,289			2,210			50			6,641			48,085
Net interest income (loss)		76,672			25,615			4,888			102			(2,495	)		104,782
Provision (benefit) for credit losses		32,206			6,779			6,026			(1,435	)		—			43,576
Net interest income (loss) after credit loss provision		44,466			18,836			(1,138	)		1,537			(2,495	)		61,206
Other income, net		1,766			5			16,000			1,592			1,445			20,808
Operating expenses		(20,000	)		(9,694	)		(2,882	)		(1,823	)		(7,904	)		(42,303	)
Net income (loss) before taxes		26,232			9,147			11,980			1,306			(8,954	)		39,711
Income tax (provision) benefit		(8,269	)		(2,884	)		(3,773	)		(415	)		2,823			(12,518	)
Net income (loss) after taxes	$	17,963		$	6,263		$	8,207		$	891		$	(6,131	)	$	27,193
Income attributable to the non-controlling interest																	4,110
Total net income attributable to Medallion Financial Corp.																$	23,083
Balance Sheet Data
Total loans, gross (1)	$	1,546,252		$	803,535		$	121,415		$	1,564		$	12,285		$	2,485,051
Total assets		1,493,721			787,432			111,961			6,009			480,871			2,879,994
Total funds borrowed		1,195,144			630,034			89,581			4,808			384,750			2,304,317
Selected Financial Ratios
Return on average assets		2.42	%		1.58	%		15.15	%		29.00	%		(2.71	)%		1.93	%
Return on average stockholders' equity	*			*			*			*			*				12.21
Return on average equity		14.25			9.31			88.99			162.17			(16.40	)		11.63
Interest yield		13.34			9.88			12.38			19.07		NM				11.70
Net interest margin, gross		10.07			6.34			8.53			12.45		NM				8.01
Net interest margin, net of allowance		10.57			6.50			9.10			16.44		NM				8.33
Reserve coverage (2)		5.05			2.54			9.14			21.62		NM				4.43
Delinquency status (3)		0.49			0.16			16.78			—		NM				1.19
Charge-off (recovery) ratio (4)		3.94			1.71			0.21			(150.51	)	NM				2.77

(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 3.71% 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 June 30, 2024.

Three Months Ended June 30, 2024	Consumer Lending
(Dollars in thousands)	Recreation			Home Improvement			Commercial Lending			Taxi Medallion Lending			Corporate and Other Investments			Consolidated
Total interest income	$	47,490		$	17,651		$	3,538		$	190		$	1,835		$	70,704
Total interest expense		10,960			6,106			1,056			25			2,689			20,836
Net interest income (loss)		36,530			11,545			2,482			165			(854	)		49,868
Provision (benefit) for credit losses		15,795			3,279			478			(975	)		—			18,577
Net interest income (loss) after credit loss provision		20,735			8,266			2,004			1,140			(854	)		31,291
Other income, net		306			3			(14	)		334			470			1,099
Operating expenses		(11,236	)		(5,457	)		(1,437	)		(1,373	)		(492	)		(19,995	)
Net income (loss) before taxes		9,805			2,812			553			101			(876	)		12,395
Income tax (provision) benefit		(3,094	)		(802	)		(72	)		(14	)		200			(3,782	)
Net income (loss) after taxes	$	6,711		$	2,010		$	481		$	87		$	(676	)	$	8,613
Income attributable to the non-controlling interest																	1,512
Total net income attributable to Medallion Financial Corp.																$	7,101
Balance Sheet Data
Total loans, gross	$	1,497,428		$	773,184		$	110,197		$	3,482		$	1,299		$	2,385,590
Total assets		1,451,947			758,840			105,548			7,511			437,030			2,760,876
Total funds borrowed		1,200,977			627,674			87,304			6,213			361,488			2,283,656
Selected Financial Ratios
Return on average assets		1.95	%		1.08	%		1.86	%		4.29	%		(0.61	)%		1.30	%
Return on average stockholders' equity	*			*			*			*			*				8.14
Return on average equity		13.05			7.00			12.09			25.69			(3.88	)		8.25
Interest yield		13.30			9.32			13.08			21.62		NM				11.52
Net interest margin, gross		10.23			6.10			9.18			18.78		NM				8.12
Net interest margin, net of allowance		10.69			6.25			9.57			31.77		NM				8.42
Reserve coverage (1)		4.35			2.38			4.41			40.18		NM				3.76
Delinquency status (2)		0.41			0.17			7.52			—		NM				0.67
Charge-off (recovery) ratio (3)		2.99			1.49			—			(98.90	)	NM				2.20

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

(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.

The following table presents segment data as of and for the six months ended June 30, 2024.

Six Months Ended June 30, 2024	Consumer Lending
(Dollars in thousands)	Recreation			Home Improvement			Commercial Lending			Taxi Medallion Lending			Corporate and Other Investments			Consolidated
Total interest income	$	91,417		$	35,098		$	7,183		$	330		$	3,746		$	137,774
Total interest expense		20,605			11,740			2,154			53			5,437			39,989
Net interest income (loss)		70,812			23,358			5,029			277			(1,691	)		97,785
Provision (benefit) for credit losses		32,825			4,177			694			(1,918	)		—			35,778
Net interest income (loss) after credit loss provision		37,987			19,181			4,335			2,195			(1,691	)		62,007
Other income, net		556			5			4,188			973			780			6,502
Operating expenses		(19,523	)		(9,571	)		(2,422	)		(2,116	)		(4,588	)		(38,220	)
Net income (loss) before taxes		19,020			9,615			6,101			1,052			(5,499	)		30,289
Income tax (provision) benefit		(6,368	)		(3,219	)		(2,043	)		(352	)		1,842			(10,140	)
Net income (loss) after taxes	$	12,652		$	6,396		$	4,058		$	700		$	(3,657	)	$	20,149
Income attributable to the non-controlling interest																	3,024
Total net income attributable to Medallion Financial Corp.																$	17,125
Balance Sheet Data
Total loans, gross	$	1,497,428		$	773,184		$	110,197		$	3,482		$	1,299		$	2,385,590
Total assets		1,451,947			758,840			105,548			7,511			437,030			2,760,876
Total funds borrowed		1,200,977			627,674			87,304			6,213			361,488			2,283,656
Selected Financial Ratios
Return on average assets		1.87	%		1.72	%		7.68	%		14.89	%		(1.69	)%		1.55	%
Return on average stockholders' equity	*			*			*			*			*				9.89
Return on average equity		12.31			11.04			49.32			90.99			(10.64	)		9.70
Interest yield		13.20			9.29			12.97			18.78		NM				11.42
Net interest margin, gross		10.23			6.18			9.08			15.59		NM				8.11
Net interest margin, net of allowance		10.69			6.34			9.45			26.61		NM				8.40
Reserve coverage (1)		4.35			2.38			4.41			40.18		NM				3.76
Delinquency status (2)		0.41			0.17			7.52			—		NM				0.67
Charge-off (recovery) ratio (3)		3.64			1.80			(0.04	)		(100.16	)	NM				2.68

(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.