Earnings release
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Exhibit 99.1 FOR IMMEDIATE RELEASE: MEDALLION FINANCIAL CORP. REPORTS 2026 SECOND QUARTER RESULTS Record Assets Surpass $3.0 billion, Loan Originations Increase 63% NEW YORK, NY – July 29, 2026 – Medallion Financial Corp. (NASDAQ: MFIN) (“Medallion” or the “Company”), a specialty finance company that originates and services loans in various consumer and commercial industries, along with offering loan origination services to fintech strategic partners, today announced its financial results for the quarter ended June 30, 2026. 2026 Second Quarter Highlights • Total net income attributable to stockholders for the second quarter was $7.4 million, or $0.31 per share, compared to $11.1 million, or $0.46 per share, in the prior year quarter. Total net income for the quarter included a $0.2 million gain on equity investments, compared to a $6.1 million gain on equity in the prior year quarter. • Net interest income grew 7% to $57.2 million from $53.4 million in the prior year quarter. • Net interest margin (“NIM”) on gross loans was 7.94%, compared to 8.09% in the prior year quarter, and NIM on net loans was 8.28%, compared to 8.42% in the prior year quarter. • Total assets exceeded $3.0 billion for the first time in company history. • Loan originations grew 63% to $611.6 million, compared to $375.0 million in the prior year quarter, and included $247.1 million of strategic partnership loan originations in the current quarter, compared to $168.6 million in the prior year quarter. • Total loan portfolio as of June 30, 2026 was $2.795 billion, up 12.5% compared to $2.485 billion a year ago. • Credit loss provision was $22.3 million, compared to $21.6 million in the prior year quarter. • Net book value per share at June 30, 2026 was $17.62 compared to $16.77 a year ago. • The Company declared and paid a quarterly cash dividend of $0.14 per share. • The Company repurchased 779,799 shares of its common stock at an average cost of $9.85 per share for $7.7 million. Executive Commentary Andrew Murstein, President and Chief Executive Officer of Medallion Financial Corp., commented, “Our second quarter results further demonstrate the strength and scalability of our lending platform. We achieved record assets of more than $3.0 billion, increased loan originations by 63%, grew net interest income by 7%, and continued to build book value while maintaining disciplined underwriting standards. Demand across our recreation and home improvement lending businesses remains healthy, and our strategic partnership business continues to expand with strategic partnership originations reaching $247 million during the quarter. Additionally, we repurchased nearly 780,000 shares during the quarter at an average price of $9.85 per share, which we believe creates meaningful long-term shareholder value. Despite the absence of significant gains on equity investments in the quarter, our core lending franchise continued to produce meaningful operating results supporting our earnings. As our loan portfolio expanded, we recorded higher credit provisions to support that growth, reflecting the up front reserve requirements associated with new loan originations. These originations provide visibility into future portfolio and earnings growth. We believe Medallion is well positioned for continued profitable growth through disciplined underwriting, a strong funding base, expanding strategic partnerships, and prudent capital allocation.”
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2 Business Highlights Recreation Lending • Originations were $228.5 million during the quarter, up 63.0% compared to $142.8 million a year ago. • Recreation loans, including loans held for investment and loans held for sale, grew 14% to $1.760 billion, or 63% of total loans, as of June 30, 2026, compared to $1.546 billion, or 62%, a year ago. • Average loan size as of June 30, 2026 was $22,300 with a weighted average FICO score, measured at the time of loan origination, of 686. • Interest income grew 12% to $57.1 million for the quarter, from $51.1 million in the prior year quarter. • The average interest rate was 15.06% at quarter-end, compared to 15.12% a year ago. • Recreation loans 90 days or more past due were $9.7 million, or 0.57% of gross recreation loans, as of June 30, 2026, compared to $7.3 million, or 0.49%, a year ago. • Allowance for credit losses as of June 30, 2026 was 5.16%, compared to 5.05% a year ago. Home Improvement Lending • Originations were $128.6 million during the quarter, up 31.7% compared to $54.3 million a year ago. • Home improvement loans were $885.6 million, or 32% of total loans, as of June 30, 2026, compared to $803.5 million, or 32%, a year ago. • Average loan size as of June 30, 2026 was $24,500 with a weighted average FICO score, measured at the time of loan origination, of 768. • Interest income was $20.9 million for the quarter, compared to $20.1 million in the prior year quarter. • The average interest rate was 9.69% at quarter-end, compared to 9.87% a year ago. • Home improvement loans 90 days or more past due were $1.5 million, or 0.17% of gross home improvement loans, as of June 30, 2026, compared to $1.3 million, or 0.16%, a year ago. • Allowance for credit losses as of June 30, 2026 was 2.42%, compared to 2.54% a year ago. Commercial Lending • Commercial loans were $126.2 million as of June 30, 2026, compared to $121.4 million a year ago. • Average loan size was $4.1 million as of June 30, 2026, invested across 30 portfolio companies. • Interest income was $3.5 million for the quarter, compared to $3.8 million in the prior year quarter. • The average interest rate on the portfolio was 14.37% as of June 30, 2026, compared to 13.43% a year ago. • We recognized $0.2 million of net equity gains during the quarter, compared to $6.1 million a year ago. Strategic Partnerships • Originations were $247.1 million during the quarter, compared to $168.6 million a year ago. • Total strategic partnership loans held for sale as of June 30, 2026 were $21.4 million, compared to $12.3 million a year ago. • Fees generated from strategic partnerships were $1.1 million for the quarter, compared to $0.8 million in the prior year quarter. • The average holding period of strategic partnership loans was approximately five days. Taxi Medallion Lending • The Company collected $1.8 million of cash on taxi medallion-related assets during the quarter, which resulted in net recoveries and gains of $1.4 million. • Total net taxi medallion-related assets declined to $3.5 million, a 42% reduction from a year ago, and represented 0.1% of the Company’s total assets, as of June 30, 2026.
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3 AVERAGE BALANCES AND RATES The following table presents our consolidated average balance sheets, interest income and expense, and the average interest earning/bearing assets and liabilities and reflects the average yield on assets and average costs on liabilities as of and for the three months ended June 30, 2026 and 2025. Three Months Ended June 30, 2026 2025 (Dollars in thousands) AverageBalance Interest AverageYield/Cost AverageBalance Interest AverageYield/Cost Interest-earning assets Interest earning cash equivalents $ 65,222 $ 521 3.20% $ 35,166 $ 367 4.19% Federal funds sold 67,191 877 5.24 67,533 954 5.67 Investment securities 69,020 694 4.03 60,991 593 3.90 Loans Recreation 1,702,708 57,101 13.45 1,530,529 51,101 13.39 Home improvement 845,756 20,929 9.93 808,517 20,133 9.99 Commercial 122,878 3,505 11.44 118,735 3,839 12.97 Taxi medallion 1,209 167 55.40 1,607 72 17.97 Strategic partnerships 14,110 583 16.57 10,558 383 14.55 Total loans 2,686,661 82,285 12.28 2,469,946 75,528 12.27 Total interest-earning assets, before allowance 2,888,094 11.71 2,633,636 11.75 Allowance for credit losses (118,655) (103,117) Total interest-earning assets, net of allowance $ 2,769,439 $ 84,377 12.21% $ 2,530,519 $ 77,442 12.23% Non-interest-earning assets Cash 60,400 58,030 Equity investments 8,425 8,522 Loan collateral in process of foreclosure 6,299 9,010 Goodwill and intangible assets 167,964 169,409 Other assets 59,806 62,360 Total non-interest-earning assets 302,894 307,331 Total assets $ 3,072,333 $ 2,837,850 Interest-bearing liabilities Deposits $ 2,240,678 $ 22,122 3.96% $ 2,047,347 $ 19,608 3.84% Privately placed notes 171,500 3,689 8.63 146,500 3,172 8.68 SBA debentures and borrowings 73,500 813 4.44 70,500 733 4.17 Trust preferred securities 33,000 506 6.15 33,000 559 6.79 Total interest-bearing liabilities 2,518,678 27,130 4.32 2,297,347 24,072 4.20 Non-interest-bearing liabilities Deferred tax liability 20,392 19,920 Other liabilities 24,482 28,206 Total non-interest-bearing liabilities 44,874 48,126 Total liabilities 2,563,552 2,345,473 Non-controlling interest 100,013 106,049 Total stockholders’ equity 408,768 386,328 Total liabilities and stockholders’ equity $ 3,072,333 $ 2,837,850 Net interest income $ 57,247 $ 53,370 Net interest margin, gross 7.94 8.09 Net interest margin, net of allowance 8.28% 8.42% (1) Includes deferred financing costs of $10.2 million and $8.5 million as of June 30, 2026 and 2025. (1)
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4 Loan Portfolio The following table provides information regarding the composition of our loan portfolio for the dates presented: June 30, 2026 December 31, 2025 June 30, 2025 (Dollars in thousands) Amount As aPercent ofTotal Loans Amount As aPercent ofTotal Loans Amount As aPercent ofTotal Loans Loans held for investment: Recreation $ 1,760,297 63% $ 1,617,221 63% $ 1,486,047 60% Home improvement 885,599 32 810,237 32 803,535 32 Commercial 126,177 5 123,068 5 121,415 5 Taxi medallion 1,293 * 1,179 * 1,564 * Total loans 2,773,366 99 2,551,705 100 2,412,561 98 Loans held for sale, at lower of amortized cost or fair value: Recreation — — — — 60,205 2 Strategic partnership 21,376 * 15,144 * 12,285 * Total loans held for sale, at lower of amortized cost or fair value 21,376 * 15,144 * 72,490 2 Total loans and loans held for sale $ 2,794,742 100% $ 2,566,849 100% $ 2,485,051 100% (*) Less than 1%. Balance Sheet • Cash and cash equivalents, including investment securities, as of June 30, 2026, were $275.9 million, compared to $213.5 million as of June 30, 2025. • As of June 30, 2026, total assets were $3.194 billion, up from $2.880 billion as of June 30, 2025. • As of June 30, 2026, total liabilities were $2.688 billion, up from $2.347 billion as of June 30, 2025. Capital Allocation Quarterly Dividend • The Board of Directors declared a quarterly dividend of $0.14 per share, payable on August 31, 2026, to stockholders of record at the close of business on August 17, 2026. Dividends Announced AmountPer Share RecordDate PaymentDate Q3 2026 $ 0.14 8/17/2026 8/31/2026 Q2 2026 0.14 5/11/2026 5/21/2026 Q1 2026 0.12 3/19/2026 3/31/2026 Total: Year 2026 (Year to Date) 0.40 Total: Year 2025 0.47 Total: Year 2024 0.41 Total: Year 2023 0.34 Total: Year 2022 * 0.32 (*) Dividend reinstated in Q1 2022. Stock Repurchase Plan • During the quarter ended June 30, 2026, the Company repurchased 779,799 shares of its common stock at an average cost of $9.85 per share for $7.7 million. • As of June 30, 2026, the Company had $6.7 million remaining under its $40 million stock repurchase program.
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5 Conference Call Information The Company will host a conference call to discuss its second quarter financial results tomorrow, Thursday, July 30, 2026, at 9:00 a.m. Eastern time. In connection with its earnings release, the Company has updated its quarterly supplement presentation, which is now available at www.medallion.com. How to Participate • Date: Thursday, July 30, 2026 • Time: 9:00 a.m. Eastern time • Dial-in number: (833) 816-1412 or (412) 317-0504 • Live webcast: Link to Webcast of 2Q26 Earnings Call A link to the live audio webcast of the conference call will also be available at the Company’s IR website. Replay Information The conference call replay will be available following the end of the call through Thursday, August 6, 2026 • Dial-in: (844) 512-2921 or (412) 317-6671 • Passcode: 1021 0218 Additionally, the webcast replay will be available at the Company’s IR website. About Medallion Financial Corp. Medallion Financial Corp. (NASDAQ: MFIN) and its subsidiaries originate and service a portfolio of consumer loans and mezzanine loans in various industries. Key industries served include recreation (towable RVs and marine) and home improvement (swimming pools, replacement roofs, and windows). Medallion Financial Corp. is headquartered in New York City, NY, and its largest subsidiary, Medallion Bank, is headquartered in Salt Lake City, Utah. For more information, please visit www.medallion.com. Forward-Looking Statements Please note that this press release contains forward-looking statements that involve risks and uncertainties relating to business performance, cash flow, net interest income and expenses, other expenses, earnings, growth, and our growth strategy. These statements are often, but not always, made using words or phrases such as “will” and “continue” or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These statements relate to future public announcements of our earnings, expectations regarding our loan portfolio, including collections on our taxi medallion loans, the potential for future asset growth, and market share opportunities. Medallion’s actual results may differ significantly from the results discussed in such forward- looking statements. For example, statements about the effects of the current economy, whether inflation or the risk of recession, the effects of tariffs, the impact of the conflict with Iran, operations, financial performance and prospects constitute forward-looking statements and are subject to the risk that the actual impacts may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond Medallion’s control. In addition to risks relating to the current economy, for a description of certain risks to which Medallion is or may be subject, please refer to the factors discussed under the heading “Risk Factors” in Medallion’s 2025 Annual Report on Form 10-K. Investor Relations InvestorRelations@medallion.com 212-328-2176
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6 MEDALLION FINANCIAL CORP. CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Unaudited) (Unaudited) (Dollars in thousands, except share and per share data) June 30, 2026 December 31, 2025 June 30, 2025 Assets Cash, cash equivalents, and federal funds sold $ 205,991 $ 201,564 $ 151,994 Investment securities 69,933 60,183 61,529 Equity investments 8,734 8,099 8,097 Loans held for sale, at lower of amortized cost or fair value 21,376 15,144 72,490 Loans 2,773,366 2,551,705 2,412,561 Allowance for credit losses (122,701) (114,789) (106,896) Net loans receivable 2,650,665 2,436,916 2,305,665 Goodwill and intangible assets, net 167,782 168,504 169,227 Accrued interest receivable 20,923 19,401 15,294 Property, equipment, and right-of-use lease asset, net 8,666 11,861 11,890 Loan collateral in process of foreclosure 6,646 7,333 9,007 Other assets 32,869 26,459 74,801 Total assets $ 3,193,585 $ 2,955,464 $ 2,879,994 Liabilities Deposits $ 2,293,935 $ 2,084,265 $ 2,009,176 Long-term debt 287,547 215,987 199,928 Short-term borrowings 54,500 95,250 86,750 Deferred tax liabilities, net 19,973 19,596 19,261 Operating lease liabilities 3,876 5,041 4,041 Accrued interest payable 6,101 6,319 5,746 Accounts payable and accrued expenses 22,206 20,960 22,527 Total liabilities 2,688,138 2,447,418 2,347,429 Total stockholders’ equity 406,018 408,617 389,896 Non-controlling interest in consolidated subsidiaries 99,429 99,429 142,669 Total equity 505,447 508,046 532,565 Total liabilities and equity $ 3,193,585 $ 2,955,464 $ 2,879,994 Number of shares outstanding 23,041,645 23,311,683 23,246,593 Book value per share $ 17.62 $ 17.53 $ 16.77
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7 MEDALLION FINANCIAL CORP. CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands, except share and per share data) 2026 2025 2026 2025 Total interest income $ 84,377 $ 77,442 $ 163,445 $ 152,867 Total interest expense 27,130 24,072 52,139 48,085 Net interest income 57,247 53,370 111,306 104,782 Provision for credit losses 22,273 21,562 44,749 43,576 Net interest income after provision for credit losses 34,974 31,808 66,557 61,206 Other income Gain on taxi medallion assets, net 1,316 749 2,415 1,592 Strategic partnership fees 1,136 787 1,959 1,472 Gain on sale of recreation loans held for sale 1,281 1,304 1,281 1,304 Gain on equity investments, net 232 6,096 545 15,526 Other income 511 273 684 914 Total other income, net 4,476 9,209 6,884 20,808 Other expenses Salaries and employee benefits 11,247 10,148 22,247 20,141 Loan servicing fees 4,366 2,899 7,903 5,716 Collection costs 1,931 2,033 3,868 3,772 Professional fee costs, net 2,088 1,187 3,340 2,937 Regulatory fees 1,002 1,109 1,981 1,930 Rent expense 698 683 1,395 1,358 Depreciation 656 628 1,288 1,246 Amortization of intangible assets 362 362 723 723 Director compensation 441 424 873 836 Other expenses 2,162 2,072 3,709 3,644 Total other expenses 24,953 21,545 47,327 42,303 Income before income taxes 14,497 19,472 26,114 39,711 Income tax provision 4,717 5,805 9,045 12,518 Net income 9,780 13,667 17,069 27,193 Less: income attributable to the non-controlling interest 2,335 2,598 4,671 4,110 Net income attributable to Medallion Financial Corp. $ 7,445 $ 11,069 $ 12,398 $ 23,083 Basic net income per share $ 0.32 $ 0.49 $ 0.53 $ 1.02 Diluted net income per share $ 0.31 $ 0.46 $ 0.51 $ 0.96 Weighted average common shares outstanding Basic 23,288,732 22,783,947 23,174,870 22,677,961 Diluted 24,013,303 24,058,084 24,280,184 23,978,214