 |
|
|
August 7, 2007
Consolidated Income Statements
|
Three Months ended
|
Six Months Ended
|
|
|
|
|
June 30,
|
June 30,
|
|
|
|
|
2007
|
2006
|
2007
|
2006
|
|
|
|
Total investment income
Total interest expense |
$13,157,101
7,535,234
|
$9,337,643
6,123,626
|
$23,596,385
14,284,852
|
$19,352,079
11,497,263
|
|
|
|
|
Net interest income |
5,621,867 |
3,214,017 |
9,311,533 |
7,854,816 |
|
|
|
|
|
|
|
|
Total noninterest income |
558,355 |
1,000,504 |
1,048,788 |
1,616,182 |
|
|
|
|
Salaries and benefits
Professional fees
Rent expense
Other operating expenses
|
2,534,487
609,981
319,786
1,098,241
|
2,396,365
463,967
288,458
736,676
|
5,267,760
1,214,974
653,076
2,001,748
|
4,317,517
1,020,019
587,145
1,490,422
|
|
|
|
|
Total operating expenses |
4,562,495 |
3,885,466 |
9,137,558 |
7,415,103 |
|
|
|
|
Net investment income before income taxes
Income tax (provision) benefit |
1,617,727
-
|
329,055
-
|
1,222,763
-
|
2,055,895
-
|
Net investment income after income taxes
|
1,617,727
|
329,055
|
1,222,763
|
2,055,895
|
|
|
|
Net realized gains on investments
|
1,840,822
|
2,519,079
|
11,852,412
|
662,843
|
|
|
|
Net change in unrealized depreciation on investments
Net change in unrealized appreciation on Medallion Bank and other controlled subsidiaries
|
(127,295)
940,746
|
(1,650,065)
2,877,997
|
(8,165,815)
3,142,856
|
(1,081,436)
4,224,936
|
|
|
|
Net unrealized gains (losses) on investments
|
813,451
|
1,227,932
|
(5,022,959)
|
3,143,500
|
|
|
|
Net realized/unrealized gains on investments
|
2,654,273
|
3,747,011
|
6,829,453
|
3,806,343
|
Net increase in net assets resulting from operations
|
$ 4,272,000
|
$4,076,066
|
$ 8,052,216
|
$ 5,862,238
|
|
|
|
Net increase in net assets resulting from operations per common share
|
|
|
|
|
Basic
Diluted
|
$0.24
0.24
|
$0.24
0.23
|
$0.46
0.45
|
$0.34
0.33
|
|
Net investment income after income taxes per common share
|
|
|
|
|
Basic
Diluted
|
$0.16
0.16
|
$0.14
0.14
|
$0.29
0.28
|
$0.36
0.35
|
|
Dividends declared per share
|
$0.19
|
$0.17
|
$0.38
|
$0.33
|
|
Weighted average common shares outstanding
|
|
|
|
|
Basic
Diluted
|
17,485,785
17,809,258
|
17,283,907
17,799,377
|
17,456,748
17,787,122
|
17,248,007
17,760,920
|
- 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 2006 Annual Report on Form 10-K.
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