Medallion Financial Corp

Medallion Financial Corp. is a specialty finance company that focuses on consumer finance and commercial lending. As of December 31, 2025, the company had total assets of $2.96 billion, up from $2.87 billion as of December 31, 2024. Medallion Financial Corp. operates through wholly-owned subsidiaries including Medallion Bank, an FDIC-insured industrial bank that originates consumer loans and raises deposits; Medallion Capital, a Small Business Investment Company (SBIC) operating a mezzanine financing business; Medallion Funding LLC, an SBIC historically focused on taxi medallion lending; and Freshstart Venture Capital Corp., which historically originated and serviced taxi medallion and commercial loans. The company provides loans to individuals and small to mid-size businesses across four operating segments. These include loans for consumer purchases of recreational vehicles (RVs), boats, collector cars, and other recreational equipment; loans for consumer home improvements; loans for commercial businesses; and historically, loans for taxi medallions. As of December 31, 2025, total loans were $2,566,849 thousand, with an allowance for credit losses of $114,789 thousand, resulting in net loans of $2,452,060 thousand. Loans held for investment included Recreation at $1,617,221 thousand, Home improvement at $810,237 thousand, Commercial at $123,068 thousand, and Taxi medallion at $1,179 thousand. Recreation lending, which comprises 63% of loans receivable as of December 31, 2025, focuses on originating prime and non-prime recreation loans.