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Parent Company Only Condensed Financial Statements (Tables) | 12 Months Ended
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Dec. 31, 2020
Condensed Financial Information Of Parent Company Only Disclosure [Abstract] |
Condensed Balance Sheets | 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 | 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) | 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 | 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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