Medallion Financial Corp. Names Marc Adelson as President of Asset-Based Lending Division Medallion Business Credit
Nov 6 14
Medallion Financial Corp. announced the appointment of Marc Adelson as the president of its asset based lending division Medallion Business Credit.
Adelson will report to Medallion Financial president, Andrew Murstein, and chief operating officer and chief credit officer, Brian O'Leary. Adelson brings asset based and leveraged finance experience to the position. He previously served as the CEO and president of Capital Business Credit. Gerald Grossman, former president of Medallion Business Credit, will remain with the company working side by side with Adelson, as well as continuing to provide leadership on portfolio and new business matters.
Medallion Financial Corp. Announces Distribution, Payable on November 21, 2014; Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014
Nov 3 14
Medallion Financial Corp. announced a distribution of $0.24 per share for the 2014 third quarter, up from $0.23 per share a year ago. This brings the total distributions paid over the last four quarters to $0.95, up 7% from $0.89 in the prior four quarters, and equates to a yield of over 8% based on the closing price of the company's stock on October 31, 2014. The current distribution will be paid on November 21, 2014 to shareholders of record on November 13, 2014.
The company reported consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net interest income of $9,157,000 against $7,343,000 a year ago. Net investment income before income taxes was $5,228,000 against $4,415,000 a year ago. Net investment income after income taxes was $5,228,000 or $0.21 per basic and diluted share against $4,415,000 or $0.20 per basic and diluted share a year ago. The company’s earnings, or net increase in net assets resulting from operations were $6,694,000 or $0.27 per diluted common share compared to $6,397,000 or $0.29 per share in the 2013 third quarter, up $297,000 or 5%.
For the nine months, the company reported net interest income of $24,007,000 against $18,945,000 a year ago. Net investment income before income taxes was $12,480,000 against $8,620,000 a year ago. Net investment income after income taxes was $12,480,000 or $0.50 per diluted share against $8,620,000 or $0.39 per diluted share a year ago. The company’s earnings, or net increase in net assets resulting from operations, were $20,564,000 or $0.82 per share, compared to $19,118,000 or $0.87 per share in the same 2013 period, an increase of $1,446,000 or 8%. These earnings increases primarily reflected higher net interest income.
Medallion Financial Corp. Presents at Sandler O'Neill + Partners, L.P. 2014 East Coast Financial Services Conference, Nov-13-2014
Oct 29 14
Medallion Financial Corp. Presents at Sandler O'Neill + Partners, L.P. 2014 East Coast Financial Services Conference, Nov-13-2014 . Venue: Naples, Florida, United States.
Medallion Financial Corp. Presents at C.L. King's Best Ideas Conference 2014, Sep-09-2014
Aug 13 14
Medallion Financial Corp. Presents at C.L. King's Best Ideas Conference 2014, Sep-09-2014 . Venue: Omni Berkshire Place Hotel, New York, New York, United States.