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Exhibit 99.1
FOR FURTHER INFORMATION:
AT THE COMPANY: | AT ZLOKOWER COMPANY | |
Medallion Financial Corp. | Public Relations | |
437 Madison Avenue | Harry Zlokower/Dave Closs | |
New York, New York10022 | 1-212-863-4193 |
Andrew M. Murstein, President
Larry D. Hall, CFO
1-212-328-2100
1-877-MEDALLION
FOR IMMEDIATE RELEASE:
MEDALLION FINANCIAL CORP. REPORTS
2015 FOURTH QUARTER AND RECORD FULL YEAR RESULTS
| Full year record earnings of $29,376,000, an all-time high, or $1.20 per diluted common share, increased 2% from 2014 |
| Fourth quarter earnings of $6,911,000, or $0.29 per share |
| Managed assets were $1.655 billion, including $1.081 billion at Medallion Bank, both all-time highs |
| Net interest margin was 6.98% on a combined basis |
| 80% of 2015 earnings came from our consumer lending businesses |
| Consumer loans originated by Medallion Bank grew 31% from a year ago |
| Book value per share, or net asset value, increased to $11.42 at December 31, 2015 |
| Quarterly distribution of $0.25 per share declared |
NEW YORK, NY February 17, 2016 Medallion Financial Corp. (Nasdaq: TAXI) announced that earnings, or net increase in net assets resulting from operations, were $29,376,000 or $1.20 per diluted common share in 2015, up $684,000 or 2% from $28,692,000 or $1.14 per share in 2014, primarily reflecting lower operating expenses and higher net interest income, partially offset by lower net realized/unrealized gains and noninterest income. Net investment income after income taxes was $16,826,000 or $0.69 per share in 2015, up $1,681,000 or 11% from $15,145,000 or $0.60 in 2014.
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Ticker: TAXI
CIK: 1000209
Form Type: 10-K Annual Report
Accession Number: 0001193125-16-495428
Submitted to the SEC: Mon Mar 07 2016 5:22:17 PM EST
Accepted by the SEC: Mon Mar 07 2016
Period: Thursday, December 31, 2015
Industry: Finance Services