Medical Financial (NASDAQ: MFIN) reported Q1 EPS of $0.05, versus $0.07 reported last year.

• Net income was $1.2 million, or $0.05 per share, compared to a net loss of $14.9 million, or $0.62 per share, in the prior year period
• Total assets were $1.43 billion as of March 31, 2019
• Net interest income was $22.3 million, reflecting primarily the contributions of the consumer lending segments
• Net income from Medallion’s consumer and commercial segments totaled $6.6 million in the quarter
• Net interest margin was 8.56% in the 2019 first quarter, the highest in over 10 years, compared to 6.96% in the prior year period on a combined basis with Medallion Bank
• 90 day plus medallion loan delinquencies decreased to $4.0 million or 2.5% of gross medallion loans, down from $53.2 million or 13.7% in the 2018 first quarter when combined with Medallion Bank
• The provision for medallion loan losses was $5.3 million in the 2019 first quarter compared to $62.7 million in the prior year period, recorded as non-cash valuation adjustments and realized losses/charge-offs when combined with Medallion Bank
• The net medallion portfolio now stands at $140 million, down from $319 million one year ago when combined with Medallion Bank, a decrease of 56%
• Medallion Bank’s Tier 1 leverage ratio at quarter-end improved to 16.56% compared to 15.85% in the prior quarter

For earnings history and earnings-related data on Medical Financial (MFIN) click here.