 |
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August 9, 2005
Consolidated Income Statements
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Quarter Ended
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Six Months Ended
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June 30,
|
June 30,
|
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|
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2005
|
2004
|
2005
|
2004
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Total investment income
Total interest expense |
$ 14,137,562
5,870,877
|
$10,400,888
3,656,395
|
$ 27,103,822
11,092,212
|
$16,886,137
6,554,088
|
|
|
|
|
Net interest income |
8,266,685 |
6,744,493 |
16,011,610 |
10,332,049 |
|
|
|
|
Gain on sale of loans
Other income
|
375,431
1,142,481
|
185,163
671,371
|
614,950
1,815,719
|
398,441
1,221,635
|
|
|
|
|
Total noninterest income |
1,517,912 |
856,534 |
2,430,669 |
1,620,076 |
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|
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Salaries and benefits
Professional fees
Other operating expenses
|
2,708,035
482,121
2,156,655
|
2,302,759
549,073
2,175,953
|
5,620,462
987,378
4,079,966
|
4,704,481
1,003,605
3,687,560
|
|
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Total operating expenses |
5,346,811 |
5,027,785 |
10,687,806 |
9,395,646 |
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|
|
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Income tax provision |
684,371 |
1,062,997 |
1,241,032 |
1,108,097 |
Net investment income after income taxes
|
3,753,415
|
1,510,245
|
6,513,441
|
1,448,382
|
|
|
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Net realized gains (losses) on investments
Net change in unrealized depreciation on investments
|
(682,815)
(2,623,257)
|
(315,328)
(946,054)
|
1,365,072
(5,195,493)
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(514,562)
(2,064,646)
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|
|
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Net realized/unrealized losses on investments
|
(3,306,072)
|
(1,261,382)
|
(3,830,421)
|
(2,579,208)
|
Net increase (decrease) in net assets from operations
|
$447,343
|
$248,863
|
$2,683,020
|
$(1,130,826)
|
|
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Weighted average shares
|
|
|
|
|
Basic
Diluted
|
16,969,568
17,413,963
|
18,141,427
18,540,419
|
17,063,025
17,507,421
|
18,179,524
18,179,524
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Net investment income after income taxes per share
|
|
|
|
|
Basic
Diluted
|
$0.22
0.22
|
$0.08
0.08
|
$0.38
0.37
|
$0.08
0.08
|
|
Net increase (decrease) in net assets from operations per share
|
|
|
|
|
Basic
Diluted
|
$0.03
0.03
|
$0.01
0.01
|
$0.16
0.15
|
$(0.06)
(0.06)
|
|
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Declared dividends per share
|
$0.13
|
$0.08
|
$0.25
|
$0.16
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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 "Investment Considerations," in Medallion's 2004 Annual Report on Form 10-K.
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