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August 6, 2008
Consolidated Balance Sheets
(Dollars in thousands, except per share data) |
UNAUDITED
June 30, 2008
|
December 31, 2007
|
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ASSETS
|
|
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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
|
$401,751
99,771
68,921
-
4,919
|
$498,883
91,782
57,501
-
4,880
|
|
|
Net investments ($357,065 at June 30, 2008 and $458,102 at December 31, 2007 pledged as collateral under borrowing arrangements)
|
575,362
|
653,046
|
|
|
Cash and cash equivalents ($865 at June 30, 2008 and $852 at December 31, 2007 restricted as to use by lender)
Accrued interest receivable
Fixed assets, net
Goodwill, net
Other assets, net
|
25,033
2,024
476
5,007
27,544
|
33,454
2,449
558
5,007
26,748
|
|
|
Total assets |
$635,446 |
$721,262 |
|
|
LIABILITIES
|
|
|
Accounts payable and accrued expenses
Accrued interest payable
Funds borrowed
|
$5,623
1,899
453,549
|
$4,203
2,087
542,549
|
|
|
|
Total liabilities |
461,071 |
548,839 |
|
|
|
Commitments and contingencies
|
-
|
-
|
|
Total shareholders' equity (net assets)
|
174,375
|
172,423
|
|
Total liabilities and shareholders' equity
|
$635,446
|
$721,262
|
|
|
Number of common shares outstanding
Net asset value per share
|
17,529,224
$9.95
|
17,495,865
$9.86
|
|
Total managed loans
Total managed assets
|
$903,324
1,015,491
|
$896,370
1,017,433
|
- Back to Press Release
- Consolidated Income Statements
About Medallion Financial
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 loans in other commercial 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 to the taxicab industry and other small businesses.
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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