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Parent Company Only Condensed Financial Statements | 12 Months Ended
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Dec. 31, 2020
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] |
Parent Company Only Condensed Financial Statements | (19) PARENT COMPANY ONLY CONDENSED FINANCIAL STATEMENTS The following shows the condensed financial information of Medallion Financial Corp. (parent company only). Condensed Balance Sheets
(Dollars in thousands) |  | December 31, 2020 |  |  | December 31, 2019 |
Assets |  |  |  |  |  |  |  |
Cash |  | $ | 33,743 |  |  | $ | 4,477 |
Net loans receivable |  |  | 12,293 |  |  |  | 26,802 |
Loan collateral in process of foreclosure |  |  | 9,960 |  |  |  | 11,104 |
Goodwill and intangible assets |  |  | 175,731 |  |  |  | 177,176 |
Investment in bank subsidiaries |  |  | 149,686 |  |  |  | 158,201 |
Investment in non-bank subsidiaries |  |  | 88,165 |  |  |  | 92,856 |
Income tax receivable |  |  | 1,470 |  |  |  | 4,708 |
Other assets |  |  | 10,912 |  |  |  | 14,111 |
Total assets |  | $ | 481,960 |  |  | $ | 489,435 |
Liabilities |  |  |  |  |  |  |  |
Other liabilities |  | $ | 21,302 |  |  | $ | 18,660 |
Intercompany payables |  |  | 51,352 |  |  |  | 54,904 |
Short-term borrowings |  |  | 53,359 |  |  |  | 8,188 |
Deferred tax liabilities |  |  | 24,172 |  |  |  | 30,728 |
Long-term borrowings |  |  | 100,367 |  |  |  | 113,807 |
Total liabilities |  |  | 250,552 |  |  |  | 226,287 |
Total stockholders’ equity |  |  | 231,408 |  |  |  | 263,148 |
Total liabilities and equity |  | $ | 481,960 |  |  | $ | 489,435 |
Condensed Statements of Operations
|  | Year Ended |  |  |  |  |
(Dollars in thousands) |  | December 31, 2020 |  |  | December 31, 2019 |  |  | Nine Months Ended December 31, 2018 |
Interest income |  | $ | (2,824 | ) |  | $ | (2,552 | ) |  | $ | (1,958 | )
Interest expense |  |  | 8,602 |  |  |  | 8,856 |  |  |  | 5,480 |
Net interest loss |  |  | (11,426 | ) |  |  | (11,408 | ) |  |  | (7,438 | )
Provision for loan losses |  |  | 5,127 |  |  |  | 6,377 |  |  |  | 19,190 |
Net interest loss after provision for loan losses |  |  | (16,553 | ) |  |  | (17,785 | ) |  |  | (26,628 | )
Other income (expense), net |  |  | (22,062 | ) |  |  | (13,686 | ) |  |  | (16,913 | )
Loss before income taxes and undistributed earnings of subsidiaries |  |  | (38,615 | ) |  |  | (31,471 | ) |  |  | (43,541 | )
Income tax benefit |  |  | 10,454 |  |  |  | 7,013 |  |  |  | 5,328 |
Loss before undistributed earnings of subsidiaries |  |  | (28,161 | ) |  |  | (24,458 | ) |  |  | (38,213 | )
Undistributed earnings (losses) of subsidiaries |  |  | (6,622 | ) |  |  | 22,696 |  |  |  | 28,041 |
Net income (loss) attributable to parent company |  | $ | (34,783 | ) |  | $ | (1,762 | ) |  | $ | (10,172 | )
Condensed Statements of Other Comprehensive Income (Loss)
|  | Year Ended |  |  |  |  |
(Dollars in thousands) |  | December 31, 2020 |  |  | December 31, 2019 |  |  | Nine Months Ended December 31, 2018 |
Net loss |  | $ | (34,783 | ) |  | $ | (1,762 | ) |  | $ | (10,172 | )
Other comprehensive income (loss) |  |  | 1,013 |  |  |  | 1,081 |  |  |  | (82 | )
Total comprehensive income (loss) attributable to Medallion Financial Corp. |  | $ | (33,770 | ) |  | $ | (681 | ) |  | $ | (10,254 | )
Condensed Statements of Cash Flow
|  | Year Ended |  |  |  |  |
(Dollars in thousands) |  | December 31, 2020 |  |  | December 31, 2019 |  |  | Nine Months Ended December 31, 2018 |
CASH FLOWS FROM OPERATING ACTIVITIES Net loss |  | $ | (34,783 | ) |  | $ | (1,762 | ) |  | $ | (10,172 | )
Adjustments to reconcile net loss to net cash provided by operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Equity in undistributed (earnings) losses of subsidiaries |  |  | 6,622 |  |  |  | (22,696 | ) |  |  | (28,041 | )
Provision for loan losses |  |  | 5,127 |  |  |  | 6,377 |  |  |  | 19,190 |
Depreciation and amortization |  |  | 5,357 |  |  |  | 5,484 |  |  |  | 5,451 |
Change in deferred and other tax assets/liabilities, net |  |  | (3,317 | ) |  |  | (2,225 | ) |  |  | 4,512 |
Net change in loan collateral in process of foreclosure |  |  | 4,940 |  |  |  | 906 |  |  |  | 678 |
Net change in unrealized depreciation on investments |  |  | 3,493 |  |  |  | 1,786 |  |  |  | — |
Stock-based compensation expense |  |  | 2,031 |  |  |  | 1,221 |  |  |  | 425 |
Decrease in other assets |  |  | 2,299 |  |  |  | 988 |  |  |  | 4,073 |
Increase in deferred financing costs |  |  | (1,233 | ) |  |  | (1,297 | ) |  |  | — |
Decrease in intercompany payables |  |  | (3,552 | ) |  |  | (8,448 | ) |  |  | (3,368 | )
Increase in other liabilities |  |  | 2,336 |  |  |  | (1,759 | ) |  |  | 4,237 |
Net cash used by operating activities |  |  | (10,680 | ) |  |  | (21,425 | ) |  |  | (3,015 | )
CASH FLOWS FROM INVESTING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |
Loans originated |  |  | (14 | ) |  |  | (3,312 | ) |  |  | (309 | )
Proceeds from principal receipts, sales, and maturities of loans and investments |  |  | 1,193 |  |  |  | 2,313 |  |  |  | 10,900 |
Purchases of investments |  |  | (2,304 | ) |  |  | (1,125 | ) |  |  | — |
Proceeds from sale and principal payments of loan collateral in process of foreclosure |  |  | 1,276 |  |  |  | 2,403 |  |  |  | 487 |
Dividends from subsidiaries |  |  | 7,597 |  |  |  | 6,248 |  |  |  | 5,200 |
Net cash provided by investing activities |  |  | 7,748 |  |  |  | 6,527 |  |  |  | 16,278 |
CASH FLOWS FROM FINANCING ACTIVITIES |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from funds borrowed |  |  | 33,600 |  |  |  | 36,000 |  |  |  | — |
Repayments of funds borrowed |  |  | (1,402 | ) |  |  | (17,735 | ) |  |  | (17,208 | )
Net cash provided by (used for) financing activities |  |  | 32,198 |  |  |  | 18,265 |  |  |  | (17,208 | )
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS |  |  | 29,266 |  |  |  | 3,367 |  |  |  | (3,945 | )
Cash and cash equivalents, beginning of period |  |  | 4,477 |  |  |  | 1,110 |  |  |  | 5,055 |
Cash and cash equivalents, end of period |  | $ | 33,743 |  |  | $ | 4,477 |  |  | $ | 1,110 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI http://asc.fasb.org/extlink&oid=120391182&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=108774443&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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