Medallion Financial (MFIN) Investor presentation summary

Business overview and strategy

• Operates as a specialty finance company with a focus on consumer and commercial lending, leveraging a Utah industrial bank charter and SBIC license.

• Main lending segments include recreation, home improvement, and commercial, with strategic fintech partnerships to drive originations.

• Consumer loan portfolio more than doubled over five years, reaching $2.41 billion, with strong net interest margin and ROE.

• Maintains significant insider ownership (~20%) and emphasizes niche lending expertise.

• Strategic capital allocation and share repurchases have supported shareholder value.

Loan portfolio and segment performance

• Total gross loans reached $2.56 billion as of September 30, 2025, with recreation loans comprising 62.6%, home improvement 31.4%, and commercial 5.3%.

• Recreation loans totaled $1.60 billion with a 15.17% average interest rate and 685 average FICO score.

• Home improvement loans stood at $804 million, averaging 9.87% interest and a 767 FICO score.

• Commercial lending reached a record $135.1 million, with a 13.71% average interest rate and equity components in most deals.

• Strategic partnerships and fintech collaborations contributed $16.8 million in loans.

Financial performance and profitability

• Net interest income grew at a 12.36% CAGR, reaching $202.5 million YTD 3Q25.

• Net income attributable to shareholders was $30.8 million for the nine months ended September 30, 2025.

• Net interest margin remained strong at 8.05% in FY24, with operating costs as a percentage of NII trending downward.

• Book value per share increased to $17.07, with shares trading below book and adjusted tangible book value.

• Quarterly dividend increased 50% since 2022, with a current annualized yield of 4.75%.