 |
|
|
May 8, 2009
Consolidated Balance Sheets
(Dollars in thousands, except per share data) |
Unaudited
March 31, 2009
|
December 31, 2008
|
|
ASSETS
|
|
|
Medallion loans, at fair value
Commercial loans, at fair value
Investment in Medallion Bank and other controlled subsidiaries, at fair value
Investment securities, at fair value
Equity investments, at fair value
|
$399,604
90,671
76,010
-
2,793
|
$402,964
89,611
74,750
-
3,272
|
|
|
Net investments ($318,031 at March 31, 2009 and $347,517 at December 31, 2008 pledged as collateral under borrowing arrangements)
|
569,078
|
570,597
|
|
|
Cash and cash equivalents ($0 at March 31, 2009 and December 31, 2008 restricted as to use by lender)
Accrued interest receivable
Fixed assets, net
Goodwill, net
Other assets
|
24,104
2,156
352
5,069
39,877
|
32,075
2,149
411
5,008
36,445
|
|
|
Total assets |
$640,636 |
$646,685 |
|
|
Liabilities
|
|
|
Accounts payable and accrued expenses
Accrued interest payable
Funds borrowed
|
$5,798
778
460,411
|
$7,074
2,015
462,650
|
|
|
|
Total liabilities |
466,987 |
471,739 |
|
|
|
Commitments and contingencies
|
-
|
-
|
|
Total shareholders' equity (net assets)
|
173,649
|
174,946
|
|
Total liabilities and shareholders' equity
|
$640,636
|
$646,685
|
|
|
Number of common shares outstanding
Net asset value per share
|
17,565,771
$9.89
|
17,549,224
$9.97
|
|
Total managed loans
Total managed assets
|
$938,292
1,069,153
|
$945,294
1,075,509
|
- Back to Press Release
- Consolidated Statements of Operations (Unaudited)
Medallion Financial Corp. is a specialty finance company with a leading position in the origination and servicing of loans financing the purchase of taxicab medallions and related assets. The Company also originates and services other commercial loans in targeted niche industries and its wholly owned portfolio company Medallion Bank also originates and services consumer loans. The Company and its subsidiaries have lent over $3 billion.
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 2008 Annual Report on Form 10-K.
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