Medallion Financial’s 1Q24 Charge-Off Trends Demand Immediate Risk-Management Action

ZimCal Asset Management commented on Medallion Financial Corp.‘s first quarter 2024 results, raising concerns about poorly trending 1Q24 performance, particularly charge-off net trends at the Company. ZimCal urged Medallion Financial to take decisive risk-management steps immediately to address the deteriorating metrics. Despite the near-term concerns, ZimCal’s long-term view on Medallion Financial remains overwhelmingly positive, provided the Company has the right governance and leadership team in place.