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November 9, 2009
Consolidated Statements of Operations (Unaudited)
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Three Months ended
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Nine Months Ended
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September 30,
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September 30,
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(Dollars in thousands, except per share data)
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2009
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2008 |
2009
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2008 |
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Total investment income
Total interest expense(2)
Net interest income
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$10,196
4,174
6,022
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$11,743
5,131
6,612
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$31,544
13,056
18,488
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$38,917
17,940
20,977
|
|
|
|
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Total noninterest income |
963 |
795 |
2,427 |
2,908 |
|
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Salaries and benefits
Professional fees
Occupancy expense
Other operating expenses
|
2,857
467
308
1,352
|
2,708
325
205
744
|
8,846
1,546
882
3,615
|
8,052
1,281
866
3,040
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|
|
|
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Total operating expenses |
4,984 |
3,982 |
14,889 |
13,239 |
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Net investment income before income taxes
Income tax (provision) benefit
|
2,001
-
|
3,425
-
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6,026
-
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10,646
-
|
|
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Net investment income after income taxes
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2,001
|
3,425
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6,026
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10,646
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|
|
|
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Net realized gains (losses) on investments
Net change in unrealized appreciation (depreciation) on investments
Net change in unrealized appreciation (depreciation) on Medallion Bank and other controlled subsidiaries
|
486
(841)
1,243
|
108
449
136
|
(1,404)
1,208
951
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(3,869)
6,138
(499)
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Net unrealized appreciation on investments
|
402
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585
|
2,159
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5,639
|
|
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Net realized/unrealized gains on investments
|
888
|
693
|
755
|
1,770
|
|
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Net increase in net assets resulting from operations
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$2,889
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$4,118
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$6,781
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$12,416
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Net investment income after income taxes per common share
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|
|
|
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Basic
Diluted
|
$0.11
0.11
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$0.20
0.19
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$0.34
0.34
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$0.61
0.60
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Net increase in net assets resulting from operations per common share
|
|
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Basic
Diluted
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$0.16
0.16
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$0.23
0.23
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$0.39
0.38
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$0.71
0.70
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Dividends declared per share
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$0.19
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$0.19
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$0.57
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$0.57
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Weighted average common shares outstanding
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Basic
Diluted
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17,575,877
17,708,892
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17,535,249
17,756,913
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17,567,602
17,683,571
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17,512,245
17,733,830
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- Back to Press Release
- Consolidated Balance Sheets
Please note that this press release contains forward-looking statements that involve risks and uncertainties relating to business performance, cash flow, costs, sales, net investment income, earnings, and growth. Medallion's actual results may differ significantly from the results discussed in such forward-looking statements. Factors that might cause such a difference include, but are not limited to, those factors discussed under the heading "Risk Factors," in Medallion's 2007 Annual Report on Form 10-K.
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