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FOR FURTHER INFORMATION:
|AT THE 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
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.
The following information was filed by Medallion Financial Corp (TAXI) on Tuesday, February 23, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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