Medallion Financial reports Q3 EPS 32c, consensus 29c

Reports Q3 book value per share $17.07. Andrew Murstein, President and Chief Operating Officer of Medallion Financial (MFIN), commented, “We are very pleased with our continued strong results. This quarter we reached record highs in net interest income, loan volume and total assets. We had a 31% increase in net income year-over-year when excluding the $3.5 million non-recurring charges related to the redemption of the Bank’s series F preferred stock, and continued momentum across our core lending businesses. Net interest margin continued to improve on both gross and net loans. Our diverse business lines delivered meaningful contributions, with higher interest income and disciplined execution supporting strong financial performance. The loan portfolio continued to grow, reaching $2.56 billion, and loan originations reaching $427 million at the end of the quarter.”