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MFIN on Nasdaq

MEDALLION FINANCIAL CORP

MEDALLION FINANCIAL CORP is an American finance services company based in New York, incorporated in Delaware.2 Its shares trade on Nasdaq under the symbol MFIN.2

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Last updated Oct 21, 2026.

Overview

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  • TickerMFIN on Nasdaq2
  • IndustryFinance Services2
  • HeadquartersNew York, United States2
  • Incorporated inDE3
  • Business address667 Madison Avenue, 22Nd Floor, New York, Ny 100653
  • Filer categoryAccelerated filer, Smaller reporting company3
  • Legal formCorporation2
  • LEI549300FJ4FMGJ2C34Y482
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered addressC/O THE PRENTICE-HALL CORPORATION SYSTEM, INC., 19808 Wilmington, United States2
  • Registered withDivision of Corporations, Department of State, 25542102

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Financial statements

Net income56789$43.0M in 2025
-$50.0M-$25.0M0$25.0M$50.0M$75.0M2019: -$1.8M-$1.8M20192020: -$34.8M-$34.8M2020+1874%2021: $54.1M$54.1M20212022: $43.8M$43.8M2022−19%2023: $55.1M$55.1M2023+26%2024: $35.9M$35.9M2024−35%2025: $43.0M$43.0M2025+20%
Fiscal year20192020202120222023202420252026
Interest$35.0M5$34.2M6$31.1M7$36.2M7$62.9M7
Income before tax$81.9M7$67.8M8$86.0M9$62.9M9$79.9M9
Income tax$341.0K5-$10.1M6$24.2M7$18.0M8$24.9M9$21.0M9$24.5M9
Net income-$1.8M5-$34.8M6$54.1M7$43.8M8$55.1M9$35.9M9$43.0M9
Earnings per share-$0.075-$1.426$2.207$1.868$2.459$1.599$1.899
Earnings per share (diluted)-$0.075-$1.426$2.177$1.838$2.379$1.529$1.789
Shares (weighted, basic)24.6M shares723.6M shares822.5M shares922.5M shares922.8M shares9
Shares (weighted, diluted)24.9M shares723.9M shares823.2M shares923.6M shares924.2M shares9

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Corporate structure

MEDALLION FINANCIAL CORP sits at the top of its group. 5 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of MEDALLION FINANCIAL CORP

  • Andrew Murstein Filed SCHEDULE 13G/A on MEDALLION FINANCIAL CORP, latest Apr 6, 2026 (5 filings since Feb 9, 2022)
  • BlackRock Filed SCHEDULE 13G/A on MEDALLION FINANCIAL CORP, latest Apr 24, 2025 (3 filings since Oct 21, 2024)
  • Alvin Murstein Filed SCHEDULE 13D/A on MEDALLION FINANCIAL CORP, latest Feb 18, 2025 (3 filings since Feb 21, 2023)
  • KORR Value L.P. Filed SCHEDULE 13D/A on MEDALLION FINANCIAL CORP, latest Jan 3, 2025
  • Howard Amster Filed SCHEDULE 13D on MEDALLION FINANCIAL CORP, latest Dec 18, 2024
  • Ken Orr Filed SC 13D/A on MEDALLION FINANCIAL CORP, latest Aug 12, 2022 (4 filings since Jan 3, 2022)
  • MEDALLION FINANCIAL CORP New York, New York, United States
    • Freshstart Venture Capital Corp. Subsidiary · New York, United States
    • Medallion Bank Subsidiary · Utah, United States
    • Medallion Capital, Inc. Subsidiary · Minnesota, United States
    • Medallion Funding LLC Subsidiary · New York, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What MEDALLION FINANCIAL CORP reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Operating-lease assets (leased space)$6.9M9 Dec 31, 2025$6.9M9 Dec 31, 2024−0.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$136.3M9 Dec 31, 2025$98.2M9 Dec 31, 2024+38.7%
Debt securities available for sale$60.2M9 Dec 31, 2025$54.8M9 Dec 31, 2024+9.8%
Equity securities at fair value$1.8M9 Dec 31, 2025$1.7M9 Dec 31, 2024+5.9%
Stakes in other companies (equity method)$8.1M9 Dec 31, 2025$9.2M9 Dec 31, 2024−11.9%
Deposits held (banks)$2.1B9 Dec 31, 2025$2.1B9 Dec 31, 2024−0.3%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$150.8M9 Dec 31, 2025$150.8M9 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$17.7M9 Dec 31, 2025$19.1M9 Dec 31, 2024−7.5%

Properties, in its own words

We lease office space in New York City for our corporate headquarters under a lease expiring in April 2027. Our New York City office space also handles loan origination and subsidiary operations and our taxi medallion lending segment. Medallion Bank leases office space in Salt Lake City, Utah under a lease expiring in November 2033, which handles the recreation and home improvement lending segments. We also lease office space in Excelsior, Minnesota under a lease expiring February 2031, which handles our commercial lending segment. We do not own any real property, other than foreclosed properties obtained as a result of lending relationships. We believe that our leased properties, taken as a whole, are in good operating condition and are suitable for our current business operations.

Item 2 of the 10-K filed Mar 10, 2026.13

Leadership

Who has led MEDALLION FINANCIAL CORP, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Alvin Murstein2006–2020
  2. John M. Taggart2013
  3. Donald S. Poulton2019

Chair

  1. Alvin Murstein2006–2020

President

  1. Andrew Murstein2006–2019
  2. Donald S. Poulton2019

Chief financial officer

  1. Larry D. Hall2006–2021
  2. Anthony N. Cutrone2022–now

Chief operating officer

  1. Brian S. Oleary2007–2015
2010201520202025
Board members and other officers (30)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Freshstart Venture Capital Corp. New York4
  • Medallion Bank Utah4
  • Medallion Capital, Inc. Minnesota4
  • Medallion Funding LLC New York4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Sep 24, 20268-K Regulation FD disclosure49
  2. Sep 22, 20268-K Regulation FD disclosure50
  3. Jul 29, 20268-K Results of operations51
  4. Jun 26, 20268-K Executive or director change52
  5. Jun 12, 20268-K Executive or director change53
  6. Jun 12, 20268-K Other events54
  7. Jun 12, 20268-K Shareholder vote55
  8. Jun 10, 20268-K Other events56
  9. Jun 4, 20268-K Other events57
  10. Apr 29, 20268-K Results of operations58
  11. Apr 28, 20268-K Entered a material agreement; New debt or obligation; Other events59
  12. Apr 3, 20268-K Debt or obligation accelerated60
  13. Aug 13, 2019New chief executive Donald S. Poulton becomes CEO14
  14. Apr 25, 2013New chief executive John M. Taggart becomes CEO15
  15. Mar 3, 2006New chief executive Alvin Murstein becomes CEO16
  16. Oct 19, 1995Founded MEDALLION FINANCIAL CORP is founded2

Calendar

Coming up

  1. Oct 29, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.46 a share, on Oct 29, 2025.61

When it reported results

  1. Jul 29, 2026Reported quarterly or annual results51
  2. Apr 29, 2026Reported quarterly or annual results58
  3. Feb 18, 2026Reported quarterly or annual results62
  4. Oct 29, 2025Reported quarterly or annual results63
  5. Jul 30, 2025Reported quarterly or annual results64
  6. Apr 30, 2025Reported quarterly or annual results65
  7. Mar 4, 2025Reported quarterly or annual results66
  8. Oct 29, 2024Reported quarterly or annual results67

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

321 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 67 major events, 139 insider forms, 17 large holders, 78 other. The latest 20:

  1. Sep 24, 20268-K EDGAR
  2. Sep 22, 20268-K EDGAR
  3. Aug 5, 202610-Q EDGAR
  4. Jul 29, 20268-K EDGAR
  5. Jul 1, 2026EFFECT EDGAR
  6. Jun 26, 20264 EDGAR
  7. Jun 26, 20268-K EDGAR
  8. Jun 18, 2026S-3 EDGAR
  9. Jun 12, 20268-K EDGAR
  10. Jun 12, 20268-K EDGAR
  11. Jun 12, 20268-K EDGAR
  12. Jun 10, 20264 EDGAR
  13. Jun 10, 20264 EDGAR
  14. Jun 10, 20264 EDGAR
  15. Jun 10, 20264 EDGAR
  16. Jun 10, 20264 EDGAR
  17. Jun 10, 20264 EDGAR
  18. Jun 10, 20268-K EDGAR
  19. Jun 9, 2026DFAN14A DEFINITIVE ADDITIONAL MATERIALS EDGAR
  20. Jun 5, 2026DFAN14A DEFINITIVE ADDITIONAL MATERIALS EDGAR

The 321 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

4 open-market trades by officers, directors and large owners since October 2021: 4 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 10, 2024Cutrone Anthony N.Chief Financial OfficerBuy1,500$7.50$11.2KForm 4
Sep 6, 2024Cutrone Anthony N.Chief Financial OfficerBuy4,000$7.53$30.1KForm 4
Mar 7, 2022Munson Thomas J.See RemarksBuy1,100$8.55$9.4KForm 4
Mar 1, 2022MURSTEIN ALVINSee RemarksBuy10,000$8.36$83.6KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024Andrew M. Murstein60$1.1M$5.0M74
2024Alvin Murstein90$926.3K$2.6M74
2024Donald S. Poulton71$427.5K$1.5M74
2024Anthony N. Cutrone45$393.8K$1.5M74
2024D. Justin Haley51$349.4K$1.0M74
2023PresidentChief Operating Officer,$1.1M$6.5M74
2023ChairmanChief Executive Officer,$926.3K$3.0M74
2023Chief Executive Officer$472.5K$2.2M74
2023Executive VicePresident$393.8K$1.9M74
2022and Director$890.7K$2.5M74
2022and President of Medallion Bank$450.0K$1.5M74
2022and Chief Financial Officer$375.0K$1.4M74
2022Financial Officer of Medallion Bank$327.5K$731.8K74

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 97. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.1,219,363$12.4M0.0%+111,398
Vanguard Capital Management LLC722,282$7.4M0.0%−126,358
Geode Capital Management, LLC448,220$4.6M0.0%+35,036
Uniplan Investment Counsel, Inc.397,330$4.1M0.4%+11,749
Sei Investments Co250,080$2.6M0.0%−240,892
State Street Corp243,195$2.5M0.0%−5,316
Goldman Sachs Group Inc217,202$2.2M0.0%+30,056
American Century Companies Inc214,575$2.2M0.0%No change
Connor, Clark & Lunn Investment Management Ltd.201,485$2.1M0.0%−11,338
De Lisle Partners LLP198,711$2.0M0.2%No change
Bridgeway Capital Management, LLC188,901$1.9M0.0%+21,108
O'shaughnessy Asset Management, LLC179,864$1.8M0.0%+16,980
Gamco Investors, Inc. Et Al158,000$1.6M0.0%No change
Stifel Financial Corp154,235$1.6M0.0%−1,505
Northern Trust Corp136,920$1.4M0.0%+13,810
Arrowstreet Capital, Limited Partnership118,321$1.2M0.0%No change
Vanguard Portfolio Management LLC114,133$1.2M0.0%+20,104
Bank of New York Mellon Corp109,652$1.1M0.0%+2,224
Vanguard Fiduciary Trust Co105,917$1.1M0.0%+1,375
Ritholtz Wealth Management92,532$944.7K0.0%−4,229
Squarepoint Ops LLC78,555$802.0K0.0%+9,968
Gabelli Funds LLC78,000$796.4K0.0%No change
Panagora Asset Management Inc67,327$687.4K0.0%+22,412
Morgan Stanley64,831$661.9K0.0%+847
Daytona Street Capital LLC65,767$657.0K0.5%−6,151

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How MEDALLION FINANCIAL CORP is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARMEDALLION FINANCIAL CORP1
  • CIK0001000209
  • Employer ID (EIN)04-329117613
  • Filer statusAccelerated filer not an emerging growth company; a smaller reporting company; not a shell company13
  • Incorporated indelaware13
  • Fiscal year endsDecember 311
  • Industry code (SIC)6199 Finance Services1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address667 Madison Avenue, 22Nd Floor, New York, NY 100651
  • Phone21232821001
  • Shares outstanding22,960,249 as of Aug 4, 202611
  • Public float$174.2M as of Dec 31, 202513
  • AuditorPlante & Moran, PLLC, Chicago, IL PCAOB ID 166; it also attests to the company’s internal control over financial reporting13
  • On EDGAR sinceApr 30, 19961
  • Filings1,429 in all: 4 (481), 8-K (344), 10-Q (92), SC 13G/A (82), DFAN14A (38), SC 13D/A (30), DEF 14A (29), SC 13G (28)1
    All 60 form types

    10-K (27), 40-17F2 (27), DEFA14A (24), 3 (22), 40-17G (13), S-8 (13), 497 (12), 40-APP/A (11), CORRESP (11), N-2/A (10), N-23C-1 (10), 497AD (8), EFFECT (8), N-2 (7), 10-K/A (5), NT 10-K (5), POS EX (5), PRE 14A (5), PREC14A (5), SC 13D (5), UPLOAD (5), 4/A (4), 40-APP (4), 8-K/A (4), APP NTC (4), APP ORDR (4), ARS (4), DEFC14A (4), S-3 (4), 10-K405 (3), SCHEDULE 13G/A (3), DEFR14A (2), N-14 (2), N-14/A (2), NT 10-Q (2), POS 8C (2), POS462C (2), S-8 POS (2), SCHEDULE 13D/A (2), 10-Q/A (1), 25-NSE (1), 40-17F2/A (1), 40-6C (1), 8-A12B (1), APP WD (1), APP WD/A (1), N-2MEF (1), N-54C (1), POS AM (1), POS462B (1), RW (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (10-K) Mar 10, 2026
    Quarterly report (10-Q) Aug 5, 2026
    Proxy statement (DEF 14A) Apr 30, 2025
    Latest 8-K (8-K) Sep 24, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.01 per shareMFINNASDAQ Global Select Market

From the cover page of the 10-K filed Mar 10, 2026 (Section 12(b) of the Exchange Act).13

Risk factors and legal proceedings

The risks MEDALLION FINANCIAL CORP names in Item 1A of its 10-K filed Mar 10, 2026: 43 risks under these headings, as written.13

  • Risks Related to Our Loan Portfolios and Business
  • Our business is heavily concentrated in consumer lending, which carries a risk of loss that is different from and typically higher than the risk of loss associated with commercial lending and which could be adversely affected by an economic downturn.
  • Our financial condition, liquidity and results of operations depend on the credit performance of our loans.
  • Our allowance for credit losses may prove to be insufficient to cover losses on our loans.
  • Our business, financial condition and results of operations could be negatively impacted if we are unsuccessful in developing and maintaining relationships with dealers, contractors, and FSPs.
  • A reduction in demand for our products and failure by us to adapt to such reduction could adversely affect our business, financial condition and results of operations.
  • Decreases or increases in prevailing interest rates could adversely affect our business, our cost of capital and our net interest income.
  • Financing and Related Risks
  • Failure to raise additional capital could have a material adverse effect on our results of operations and financial position and impact our growth strategy.
  • Our subsidiary Medallion Capital’s management team is currently under review by the SBA; until successful completion of the review, which, including the timing thereof, remains uncertain, we cannot obtain financing through the SBA.
  • We are subject to certain financial covenants and other restrictions under debt arrangements, which could affect our ability to finance future operations or capital needs or to engage in other business activities.
  • Medallion Bank’s use of brokered deposits for its deposit-gathering activities may not be available when needed. The inability to accept and renew brokered deposits would have a material adverse effect on our business, financial condition, liquidity, and results of operations.
The other 33 risks
  • We depend on cash flow from our subsidiaries to make payments on our indebtedness and fund operations.
  • Legal and Regulatory Risks
  • We operate in a highly regulated environment, and if we are found to be in violation of any of the federal, state, or local laws or regulations applicable to us, our business could suffer.
  • The banking industry is highly regulated, and the regulatory framework, together with any future legislative or regulatory changes, may have a significant adverse effect on our operations.
  • Increases in FDIC insurance premiums may adversely affect our earnings.
  • Regulations relating to privacy, information security and data protection could increase our costs, affect or limit how we collect and use personal information and adversely affect our business opportunities.
  • Our use of third-party vendors and our other ongoing third-party business relationships are subject to regulatory requirements and scrutiny.
  • Our SBIC subsidiaries are licensed by the SBA and are therefore subject to SBA regulations.
  • Our ability to enter into transactions with our affiliates is restricted.
  • Federal and state law may discourage certain acquisitions of our common stock which could have a material adverse effect on our stockholders.
  • Risk Relating to Our Growth and Operations
  • Competition with other lenders could adversely affect us.
  • We have in the past and may in the future pursue new strategies and lines of business, and we may face enhanced risks as a result of these changes in strategy, including from transacting with a broader array of customers and exposure to new assets, activities markets, and regulatory requirements.
  • Our financial condition and results of operations will depend on our ability to manage growth effectively.
  • Our business depends on our ability to adapt to rapid technological change.
  • Security breaches and other disruptions could compromise our information and expose us to liability, which may negatively impact our business and reputation.
  • We are dependent upon our senior management team for our future success.
  • The development and rapidly expanding use of AI present risks and challenges that may adversely impact our business.
  • Our strategic investments may not produce anticipated returns.
  • Acts of violence or war, natural disasters, and terrorist attacks may affect any market for our securities, impact the businesses in which we invest, and harm our operations and profitability.
  • Our operations could be interrupted if certain external vendors on which we rely experience difficulty, terminate their services or fail to comply with banking laws and regulations.
  • Misconduct by current or former employees could expose us to significant legal liability and reputational harm.
  • We borrow money, which magnifies the potential for gain or loss on amounts invested, and increases the risk of investing in us.
  • Additional Risks Relating to Our Loan Portfolios and Investments
  • Lending to small businesses involves a high degree of risk and is highly speculative.
  • Our portfolio is and may continue to be concentrated in a limited number of portfolio companies, industries and sectors, which will subject us to a risk of significant loss if any of these companies default on its obligations to us or by a downturn in the particular industry or sector.
  • The lack of liquidity in our investments may adversely affect our business.
  • We depend on the accuracy and completeness of information about customers.
  • Climate-related physical risk could disrupt our business and the risk of divergent climate-related requirements and stakeholder expectations could increase compliance costs and uncertainty.
  • Our portfolio companies may incur debt that ranks equally with, or senior to, our investments in such companies.
  • There may be circumstances where our debt investments could be subordinated to claims of other creditors or we could be subject to lender liability claims.
  • If our underwriting processes do not adequately assess risk, contain errors or are otherwise ineffective, whether due to automation, inaccurate or incomplete customer information, or otherwise, our reputation and relationships with dealers, contractors and FSPs could be harmed, our market share could decline and our financial condition, liquidity and result of operations could be adversely affected.
  • We are subject to a variety of risks in connection with any sales of loans we may conduct.
  • We may not control many of Medallion Capital’s portfolio companies.
  • We may not realize gains from our equity investments.

Legal proceedings

See Note 10 “Commitments and Contingencies” subsections (c) and (d) to the consolidated financial statements included in Item 15 of this Annual Report on Form 10-K for details of the Company’s legal proceedings, including the pending SEC litigation.

The opening of Item 3, Legal Proceedings.13

Sources

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