Medallion Financial Corp. (MFIN) Social Stream

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$MFIN
2021 Second Quarter Highlights

-Record quarterly net income of $17.5 million compared to net income of $1.8 million in the prior year period.
-Quarterly net interest income of $33.1 million , compared to $28.1 million in the prior year period.
-Quarterly benefit for loan losses was $0.4 million , driven by lower consumer borrower defaults and recoveries from previous period loan losses, compared to a quarterly provision of $16.4 million in the prior year period.
-Net charge-offs were 3.93% of average loans outstanding, compared to 1.38% in the prior year period.
-Recreation and home improvement loans in a state of delinquency were 1.6% of the total combined recreation and home improvement loan portfolios.
-The gross recreation and home improvement loan portfolios grew 12% and 31%, respectively, from June 30, 2020 .
-Total assets were $1.4 billion , and the Bank had $242.2 million in capital and a Tier 1 leverage ratio of 18.09% as of June 30, 2021 .