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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income resulting from operations $ 27,193 $ 20,149
Adjustments to reconcile net income resulting from operations to net cash provided by operating activities:    
Provision for credit losses 43,576 35,778
Paid-in-kind interest income (485) (1,263)
Depreciation and amortization 4,218 2,717
Amortization of origination fees, net 4,915 4,298
Increase (decrease) in deferred and other tax liabilities, net 3,109 (1,432)
Net change in value of loan collateral in process of foreclosure 9,149 6,642
Net gains on investments (15,526) (3,655)
Stock-based compensation expense 3,369 3,092
Decrease in accrued interest receivable 20 239
Increase in other assets (46,399) (2,684)
Decrease in accounts payable and accrued expenses (5,118) (5,104)
(Decrease) increase in accrued interest payable (2,485) 1,123
Net cash provided by operating activities 25,536 59,900
CASH FLOWS FROM INVESTING ACTIVITIES    
Loans originated (662,568) (491,072)
Proceeds from principal receipts, sales, and maturities of loans 615,066 277,014
Purchases of investments (13,550) (6,059)
Proceeds from principal receipts, sales, and maturities of investments 23,985 8,735
Proceeds from the sale and principal payments on loan collateral in process of foreclosure 6,771 6,865
Net cash used for investing activities (30,296) (204,517)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from time deposits and funds borrowed 1,048,514 558,266
Repayments of time deposits and funds borrowed (1,123,610) (393,299)
Non-controlling interest equity raised by Medallion Bank 73,126 0
Cash dividends paid on common stock (5,562) (4,731)
Distributions to non-controlling interests (3,355) (3,024)
Payment of withholding taxes on net settlement of vested stock (1,202) (944)
Treasury stock repurchased (986) (3,641)
Proceeds from the exercise of stock options 257 106
Net cash (used in) provided by financing activities (12,818) 152,733
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS (17,578) 8,116
Cash and cash equivalents, beginning of period [1] 169,572 149,845
Cash and cash equivalents, end of period (1) [1] 151,994 157,961
SUPPLEMENTAL INFORMATION    
Cash paid during the period for interest 48,337 37,076
Cash paid during the period for income taxes 9,665 10,745
NON-CASH INVESTING    
Loans transferred to loan collateral in process of foreclosure, net $ 14,995 $ 11,094
[1] Includes federal funds sold.