MEDALLION FINANCIAL CORP

Medallion Financial Corp. announced its second quarter 2026 financial results, reporting net income attributable to stockholders of $7.4 million, or $0.31 per share. The company achieved record total assets exceeding $3.0 billion and saw a significant 63% increase in loan originations to $611.6 million. Net interest income grew 7% to $57.2 million, and net book value per share rose to $17.62. The company also declared a quarterly cash dividend of $0.14 per share and repurchased 779,799 shares for $7.7 million.

Medallion Financial Corp. announced its second quarter 2026 financial results, reporting total net income attributable to stockholders of $7.4 million, or $0.31 per share, a decrease from $11.1 million in the prior year, primarily due to a lower gain on equity investments. Despite this, the company achieved record total assets exceeding $3.0 billion, with net interest income growing 7% to $57.2 million and loan originations increasing 63% to $611.6 million. Medallion also declared a quarterly cash dividend of $0.14 per share and repurchased 779,799 shares of its common stock.

Medallion Financial Corp. announced it will report its financial results for the second quarter ended June 30, 2026, after the market closes on Wednesday, July 29, 2026. The company will host a conference call and live webcast to discuss these results on Thursday, July 30, 2026, at 9:00 a.m. ET. Replay information for both the call and webcast will be available following the event.

Medallion Bank's Chief Executive Officer, Donald S. Poulton, is retiring effective June 30, 2026. In connection with his retirement, 92,978 shares of his unvested restricted stock vested fully on June 25, 2026. His vested stock options will retain their original expiration dates, as his transition to a director role on Medallion Bank's Board is not considered a termination. Additionally, Mr. Poulton is eligible for a discretionary annual cash bonus, which will be determined in the first quarter of 2027.

Medallion Financial Corp. announced that its subsidiary, Medallion Capital, Inc., received notification from the Small Business Administration (SBA) regarding the satisfactory completion of background checks for two submitted candidates. This development effectively cures a previously disclosed event of default concerning Medallion Capital's outstanding SBA debentures.

Medallion Financial Corp. announced that Donald Poulton will retire as Chief Executive Officer of Medallion Bank, effective June 30, 2026. Following his retirement, Mr. Poulton will join Medallion Bank's Board of Directors, effective July 1, 2026. David Justin Haley has been appointed to succeed Mr. Poulton as CEO of Medallion Bank, also effective July 1, 2026, and will continue in his role as President of Medallion Bank.

Medallion Bank announced that its Chief Executive Officer, Donald Poulton, will retire effective June 30, 2026. Mr. Poulton will transition to the Bank's Board of Directors and serve as Chair of the Risk Committee. Justin Haley, who was promoted to President in January 2026, will succeed Mr. Poulton as CEO, effective July 1, 2026. This leadership change reflects the bank's strategic succession planning, with both leaders expressing confidence in the bank's continued growth and performance.

Medallion Financial Corp. announced the preliminary voting results from its 2026 Annual Meeting of Stockholders, where shareholders re-elected all three of the company's director nominees. This marks the third consecutive year that shareholders have rejected nominees from ZimCal Asset Management LLC, with company nominees receiving approximately 78% of votes cast. President and CEO Andrew Murstein highlighted the company's strong performance, including over $375 million in net income before taxes over the last five years and a 40% dividend increase in the last three years.

Medallion Financial Corp. is urging shareholders to vote for its current board nominees and reject ZimCal's third consecutive proxy contest. The company refutes ZimCal's claims about declining performance, stating it achieved $266 million in net income over five years and a 452% total shareholder return since its transformation. Medallion also highlights the alleged lack of relevant experience and concerning track records of ZimCal's nominees, including Eric Kelly's history of value destruction and a pending fraud lawsuit, asserting ZimCal's campaign is driven by a self-interested debt buyout agenda.

Medallion Financial Corp. announced that its subsidiary, Medallion Capital, Inc., has cured a previously disclosed event of default concerning its outstanding SBA debentures. This cure was achieved by submitting two candidate profiles. The resolution is contingent upon the satisfactory completion of background checks for these candidates, which Medallion Capital expects to be successful.