Medallion Financial (MFIN) 10-Q 7 May 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	May 06, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Entity Registrant Name	MEDALLION FINANCIAL CORP
Entity Central Index Key	0001000209
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		23,376,542
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Shell Company	false
Entity Incorporation, State or Country Code	DE
Entity File Number	001-37747
Entity Tax Identification Number	04-3291176
Entity Address, Address Line One	437 MADISON AVENUE, 38th Floor
Entity Address, City or Town	NEW YORK
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10022
City Area Code	212
Local Phone Number	328-2100
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	MFIN
Security Exchange Name	NASDAQ

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Mar. 31, 2024		Dec. 31, 2023
Assets
Cash and cash equivalents		$ 54,778		$ 52,591
Federal funds sold		114,347		97,254
Investment securities		53,038		54,282
Equity investments		16,374		11,430
Loans		2,228,426		2,215,886
Allowance for credit losses		(83,827)	[1]	(84,235)	[2]
Net loans receivable		2,144,599		2,131,651
Goodwill		150,803		150,803
Intangible assets, net		20,230		20,591
Property, equipment, and right-of-use lease asset, net		14,024		14,076
Accrued interest receivable		12,673		13,538
Loan collateral in process of foreclosure	[3]	10,198		11,772
Income tax receivable				671
Other assets		27,698		29,168
Total assets		2,618,762		2,587,827
Liabilities
Deposits	[4]	1,879,061		1,866,657
Long-term debt	[5]	225,558		235,544
Short-term borrowings		32,500		8,000
Deferred tax liabilities, net		24,846		21,207
Operating lease liabilities		6,710		7,019
Accrued interest payable		6,077		6,822
Income tax payable		1,980
Accounts payable and accrued expenses	[6]	24,206		30,804
Total liabilities		2,200,938		2,176,053
Commitments and contingencies
Stockholders’ equity
Preferred stock (1,000,000 shares of $0.01 par value stock authorized-none outstanding)		0		0
Common stock (50,000,000 shares of $0.01 par value stock authorized - 29,243,878 shares at March 31, 2024 and 29,051,800 shares at December 31, 2023 issued)		292		291
Additional paid in capital		288,685		288,046
Treasury stock (5,866,314 shares at March 31, 2024 and 5,602,154 at December 31, 2023)		(47,664)		(45,538)
Accumulated other comprehensive loss		(3,846)		(3,696)
Retained earnings		111,569		103,883
Total stockholders’ equity		349,036		342,986
Non-controlling interest in consolidated subsidiaries		68,788		68,788
Total equity		417,824		411,774
Total liabilities and equity		$ 2,618,762		$ 2,587,827
Number of shares outstanding		23,377,564		23,449,646
Book value per share		$ 14.93		$ 14.63
[1] As of March 31, 2024 and March 31, 2023 , there were no allowance for credit losses and net charge-offs related to the strategic partnership loans. 2023 beginning balance represents allowance prior to the adoption of ASU 2016-13. Includes financed sales of this collateral to third parties that are reported separately from the loan portfolio, of $ 5.8 million as of March 31, 2024 and $ 6.2 million as of December 31, 2023 . Includes $ 4.3 million of deferred financing costs as of both March 31, 2024 and December 31, 2023 . Refer to Note 5 for more details. Includes $ 4.2 million of deferred financing costs as of both March 31, 2024 and December 31, 2023 . Refer to Note 5 for more details. Includes the short-term portion of lease liabilities of $ 2.3 million and $ 2.5 million as of March 31, 2024 and December 31, 2023 . Refer to Note 6 for more details.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares outstanding	0	0
Common stock, shares authorized	50,000,000	50,000,000
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	29,243,878	29,051,800
Treasury stock,shares	5,866,314	5,602,154
Loan collateral in process of foreclosure, financed sales collateral to third parties	$ 5.8	$ 6.2
Short term lease liabilities	2.3	2.5
Deposits [Member]
Deferred financing costs	4.3	4.3
Long-Term Debt [Member]
Deferred financing costs	$ 4.2	$ 4.2

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Interest and fees on loans		$ 65,221	$ 55,169
Interest and dividends on investment securities		1,849	674
Total interest income	[1]	67,070	55,843
Interest on deposits		14,752	8,599
Interest on long-term debt		4,255	2,853
Interest on short-term borrowings		146	788
Total interest expense		19,153	12,240
Net interest income (loss)		47,917	43,603
Provision for credit losses		17,201	4,038
Net interest income after provision for credit losses		30,716	39,565
Other income (loss)
Gain (loss) on equity investments		4,167	(90)
Gain on sale of loans and taxi medallions		588	1,855
Write-down of loan collateral in process of foreclosure		0	(252)
Other income		648	570
Total other income, net		5,403	2,083
Other expenses
Salaries and employee benefits		9,457	8,836
Loan servicing fees		2,470	2,222
Collection costs		1,467	1,538
Regulatory fees		977	682
Professional fees		771	1,707
Rent expense		657	623
Amortization of intangible assets		361	360
Other expenses		2,065	2,425
Total other expenses		18,225	18,393
Income before income taxes		17,894	23,255
Income tax provision		6,358	6,382
Net income after taxes		11,536	16,873
Less: income attributable to the non-controlling interest		1,512	1,512
Total net income attributable to Medallion Financial Corp.		$ 10,024	$ 15,361
Basic net income per share		$ 0.44	$ 0.69
Diluted net income per share		$ 0.42	$ 0.67
Weighted average common shares outstanding
Basic		22,641,385	22,342,911
Diluted		23,765,045	22,975,457
[1] Included in interest income is $ 0.6 million of paid-in-kind interest for the three months ended March 31, 2024 and $ 0.3 million for the three months ended March 31, 2023 .

Consolidated Statements of Op_2

Consolidated Statements of Operations (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Interest paid in kind	$ 0.6	$ 0.3

Consolidated Statements of Othe

Consolidated Statements of Other Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 11,536	$ 16,873
Other comprehensive income (loss), net of tax	(150)	506
Total comprehensive income	11,386	17,379
Less comprehensive income attributable to the non-controlling interest	1,512	1,512
Total comprehensive income attributable to Medallion Financial Corp.	$ 9,874	$ 15,867

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders' Equity - USD ($) $ in Thousands		Total		Common Stock [Member]	Capital in Excess of Par [Member]	Treasury Stock [Member]	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Parent [Member]	Noncontrolling Interest [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Common Stock [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Capital in Excess of Par [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Treasury Stock [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Retained Earnings (Accumulated Deficit) [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Accumulated Other Comprehensive Income (Loss) [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Parent [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member] Noncontrolling Interest [Member]
Balance at Dec. 31, 2022		$ 370,524		$ 287	$ 283,663	$ (45,538)	$ 66,673	$ (3,349)	$ 301,736	$ 68,788	$ 360,589	$ 287	$ 283,663	$ (45,538)	$ 56,738	$ (3,349)	$ 291,801	$ 68,788
Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2022		(9,935)					(9,935)		(9,935)
Balance, shares at Dec. 31, 2022				28,663,827		(5,602,154)						28,663,827		(5,602,154)
Net income		16,873					15,361		15,361	1,512
Distributions to non-controlling interest		(1,512)								(1,512)
Stock-based compensation expense		1,036		$ 2	1,034				1,036
Issuance of restricted stock, net, shares				304,749
Withheld restricted stock for employees' tax obligations, shares				(91,169)
Withheld restricted stock for employees' tax obligations, value		(768)			(768)				(768)
Forfeiture of restricted stock, net, shares				(9,843)
Exercise of stock options, value		292			292				292
Exercise of stock options, shares				44,583
Dividends paid on common stock		(1,863)					(1,863)		(1,863)
Net change in unrealized gains on investments, net of tax		506						506	506
Ending balance at Mar. 31, 2023		375,153		$ 289	284,221	$ (45,538)	70,236	(2,843)	306,365	68,788
Ending balance, shares at Mar. 31, 2023				28,912,147		(5,602,154)
Balance at Dec. 31, 2022		370,524		$ 287	283,663	$ (45,538)	66,673	(3,349)	301,736	68,788	$ 360,589	$ 287	$ 283,663	$ (45,538)	$ 56,738	$ (3,349)	$ 291,801	$ 68,788
Balance (Accounting Standards Update 2016-13 [Member]) at Dec. 31, 2022		$ (9,935)					(9,935)		(9,935)
Balance, shares at Dec. 31, 2022				28,663,827		(5,602,154)						28,663,827		(5,602,154)
Exercise of stock options, shares	[1]	68,945
Net change in unrealized gains on investments, net of tax		$ (300)
Ending balance at Dec. 31, 2023		$ 411,774		$ 291	288,046	$ (45,538)	103,883	(3,696)	342,986	68,788
Ending balance, shares at Dec. 31, 2023		23,449,646		29,051,800		(5,602,154)
Net income		$ 11,536					10,024		10,024	1,512
Distributions to non-controlling interest		(1,512)								(1,512)
Stock-based compensation expense		1,496		$ 1	1,495				1,496
Issuance of restricted stock, net, shares				296,178
Withheld restricted stock for employees' tax obligations, shares				(116,275)
Withheld restricted stock for employees' tax obligations, value		(944)			(944)				(944)
Forfeiture of restricted stock, net, shares				(1,208)
Exercise of stock options, value		$ 88			88				88
Exercise of stock options, shares		13,383	[1]	13,383
Purchase of common stock (in Shares)						(264,160)
Purchase of common stock		$ (2,126)				$ (2,126)			(2,126)
Dividends paid on common stock		(2,338)					(2,338)		(2,338)
Net change in unrealized gains on investments, net of tax		(150)						(150)	(150)
Ending balance at Mar. 31, 2024		$ 417,824		$ 292	$ 288,685	$ (47,664)	$ 111,569	$ (3,846)	$ 349,036	$ 68,788
Ending balance, shares at Mar. 31, 2024		23,377,564		29,243,878		(5,866,314)
[1] The aggregate intrinsic value of exercised options, which represents the difference between the price of the Company’s common stock at the exercise date and the related exercise price of the underlying options, was less than $ 0.1 million for the three months ended March 31, 2024 and was $ 0.1 million for the year ended December 31, 2023 .

Consolidated Statement of Cha_2

Consolidated Statement of Changes in Stockholders' Equity (Parenthetical) - $ / shares	Mar. 31, 2024	Mar. 31, 2023
Statement of Stockholders' Equity [Abstract]
Dividends payable, amount per share	$ 0.1	$ 0.08

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net income resulting from operations		$ 11,536	$ 16,873
Adjustments to reconcile net income resulting from operations to net cash provided by operating activities:
Provision for credit losses		17,201	4,038
Paid-in-kind interest income		(608)	(264)
Depreciation and amortization		1,381	1,300
Amortization of origination fees, net		2,007	2,173
Increase in deferred and other tax liabilities, net		6,290	6,437
Net change in value of loan collateral in process of foreclosure		3,240	2,330
Net (gains) loss on investments		(4,167)	90
Net change in unrealized appreciation on other investments		0	(28)
Stock-based compensation expense		1,496	1,036
Increase in accrued interest receivable		865	378
Decrease (increase) in other assets		522	(8,605)
(Decrease) increase in accounts payable and accrued expenses		(6,763)	4,120
Decrease in accrued interest payable		(745)	(751)
Net cash provided by operating activities		32,255	29,127
CASH FLOWS FROM INVESTING ACTIVITIES
Loans originated		(175,721)	(230,846)
Proceeds from principal receipts, sales, and maturities of loans		138,748	143,891
Purchases of investments		(795)	(450)
Proceeds from principal receipts, sales, and maturities of investments		1,103	438
Proceeds from the sale and principal payments on loan collateral in process of foreclosure		3,759	5,526
Net cash used for investing activities		(32,906)	(81,441)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from time deposits and funds borrowed		212,807	240,056
Repayments of time deposits and funds borrowed		(185,900)	(157,100)
Cash dividend paid on common stock		(2,482)	(1,870)
Distributions to non-controlling interests		(1,512)	(1,512)
Payment of withholding taxes on net settlement of vested stock		(944)	(768)
Treasury stock repurchased		(2,126)	0
Proceeds from the exercise of stock options		88	292
Net cash provided by financing activities		19,931	79,098
NET INCREASE IN CASH AND CASH EQUIVALENTS		19,280	26,784
Cash, and cash equivalents beginning of period	[1]	149,845	105,598
Cash and cash equivalents, end of period (1)	[1]	169,125	132,382
SUPPLEMENTAL INFORMATION
Cash paid during the period for interest		18,976	12,372
Cash paid during the period for income taxes		10	143
NON-CASH INVESTING
Loans transferred to loan collateral in process of foreclosure, net		$ 5,425	$ 6,504
[1] Includes federal funds sold.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 10,024	$ 15,361

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Non Rule 10b5-1 Arrangement Modified	false
Rule 10b5-1 Arrangement Modified	false

Organization of Medallion Finan

Organization of Medallion Financial Corp. and its Subsidiaries	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization of Medallion Financial Corp. and its Subsidiaries	(1) ORGANIZATION OF MEDALLION FINANCIAL CORP. AND ITS SUBSIDIARIES Medallion Financial Corp., or the Company, is a specialty finance company organized as a Delaware corporation that reports as a bank holding company, but is not a bank holding company for regulatory purposes. The Company conducts its business through various wholly-owned subsidiaries including its primary operating company, Medallion Bank, or the Bank, a Federal Deposit Insurance Corporation, or FDIC, insured industrial bank that originates consumer loans, raises deposits, and conducts other banking activities. The Bank is subject to competition from other financial institutions and to the regulations of certain federal and state agencies, and undergoes examinations by those agencies. The Bank was formed in May 2002 for the purpose of obtaining an industrial bank charter pursuant to the laws of the State of Utah. The Bank originates consumer loans on a national basis for the purchase of recreational vehicles, or RVs, boats, collector automobiles, and other consumer recreational equipment and to finance home improvements such as roofs, swimming pools, and windows. Prior to 2015, the Bank originated commercial loans to finance the purchase of taxi medallions, all of which are serviced by the Company. The loans are financed primarily with time certificates of deposit which are originated nationally through a variety of brokered deposit relationships. The Company also conducts business through its subsidiaries Medallion Capital, Inc., or Medallion Capital, a Small Business Investment Company, or SBIC, which conducts a mezzanine financing business; Medallion Funding LLC, or MFC, an SBIC, which historically was the Company's primary taxi medallion lending company; and Freshstart Venture Capital Corp., or FSVC, which historically originated and serviced taxi medallion and commercial loans and was an SBIC through 2023. Medallion Capital and MFC, as SBICs, are regulated by the Small Business Administration, or SBA. Medallion Capital is financed in part by the SBA. The Company established a wholly-owned subsidiary, Medallion Financing Trust I, or Fin Trust, for the purpose of issuing unsecured trust preferred securities to investors. Fin Trust is a separate legal and corporate entity with its own creditors who, in any liquidation of Fin Trust, will be entitled to be satisfied out of Fin Trust’s assets prior to any value in Fin Trust becoming available to Fin Trust’s equity holders. The assets of Fin Trust, aggre gating $ 34.0 million at March 31, 2024, are comprised solely of a subordinated note from the Company and are not available to pay obligations of its affiliates or any other party, and the assets of affiliates or any other party are not available to pay obligations of Fin Trust.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	(2) SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the U.S., or GAAP, requires management to make estimates that affect the amounts reported in the consolidated financial statements and the accompanying notes. Accounting estimates and assumptions are those that management considers to be the most critical to an understanding of the consolidated financial statements because they inherently involve significant judgments and uncertainties. All of these estimates reflect management’s best judgment about current economic and market conditions and their effects based on information available as of the date of these consolidated financial statements. If such conditions change, it is reasonably possible that the judgments and estimates could change, which may result in future impairments of loans and loan collateral in process of foreclosure, goodwill and intangible assets, and investments, among other effects. Principles of Consolidation The consolidated financial statements include the accounts of the Company and all of its wholly-owned and controlled subsidiaries. All significant intercompany transactions, balances, and profits (losses) have been eliminated in consolidation. The consolidated financial statements have been prepared in accordance with GAAP. The Company consolidates all entities it controls through a majority voting interest, a controlling interest through other contractual rights, or as being identified as the primary beneficiary of VIEs. The primary beneficiary is the party who has both (1) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance, and (2) an obligation to absorb losses of the entity or a right to receive benefits from the entity that could potentially be significant to the entity. For consolidated entities that are less than wholly owned, the third-party's holding is recorded as non-controlling interest. The Company’s investment in the Bank is consolidated for financial statement purposes. In the notes to the consolidated financial statements included in its Annual Report on Form 10-K, the Company presents its investment in the Bank. Cash and Cash Equivalents The Company considers all highly liquid instruments with an original purchased maturity of three months or less to be cash equivalents. Cash balances are generally held in accounts at large national or regional banking organizations in amounts that exceed the federally insured limits. As of March 31, 2024, cash includes $ 1.3 million of interest-bearing funds deposited in other banks with original terms of 5 to 6 years. Fair Value of Assets and Liabilities The Company follows the Financial Accounting Standards Board, or FASB, FASB Accounting Standards Codification Topic 820, Fair Value Measurements and Disclosures, or FASB ASC 820, which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. FASB ASC 820 defines fair value as an exit price (i.e., a price that would be received to sell, as opposed to acquire, an asset or transfer a liability), and emphasizes that fair value is a market-based measurement. It establishes a fair value hierarchy that distinguishes between assumptions developed based on market data obtained from independent external sources and the reporting entity’s own assumptions. Further, it specifies that fair value measurement should consider adjustment for risk, such as the risk inherent in the valuation technique or its inputs. See also Notes 12 and 13 to the consolidated financial statements. Equity Investments The Company follows FASB ASC Topic 321, Investments – Equity Securities, or ASC 321, which requires all applicable investments in equity securities with a readily determinable fair value to be valued as such, and those without a readily determinable fair value, are measured at cost, less any impairment plus or minus any observable price changes. Equity investments of $ 16.4 million and $ 11.4 million at March 31, 2024 and December 31, 2023, comprised mainly of nonmarketable stock and stock warrants, are recorded at cost less any impairment plus or minus observable price changes. Substantially all of these equity investments are held by Medallion Capital, our SBIC subsidiary, in connection with its mezzanine lending business. As of March 31, 2024 , cumulative appreciation of $ 4.7 million and cumulative impairment of $ 4.0 million had been recorded with respect to these investments. During 2021, the Company purchased $ 2.0 million of equity securities with a readily determinable fair value. As a result, all unrealized gains and losses are included in gain (loss) on equity investments. As of both March 31, 2024 and December 31, 2023, the fair value of these securities were $ 1.7 million and are included in other assets on the consolidated balance sheet. The following table presents the unrealized portion related to the equity securities held. Three Months Ended March 31, (Dollars in thousands) 2024 2023 Net gains (losses) recognized during the period on equity securities $ ( 19 ) $ 28 Less: Net gains (losses) recognized during the period on equity — — Unrealized gains (losses) recognized during the reporting period on $ ( 19 ) $ 28 Investment Securities The Company follows FASB ASC Topic 320, Investments – Debt Securities, or ASC 320, which requires that all applicable investments in debt securities be classified as trading securities, available-for-sale securities, or held-to-maturity securities. Investment securities are purchased from time-to-time in the open market at prices that are greater or lesser than the par value of the investment. The resulting premium or discount is deferred and recognized on a level yield basis as an adjustment to the yield of the related investment. The net premium on investment securities totaled $ 0.1 million at both March 31, 2024 and December 31, 2023 , and less than $ 0.1 million was amortized to interest income for the three months ended March 31, 2024 and 2023. ASC 320 further requires that held-to-maturity securities be re ported at amortized cost and available-for-sale securities be reported at fair value, with unrealized gains and losses excluded from earnings at the date of the consolidated financial statements, and reported in accumulated other comprehensive income (loss) as a separate component of stockholders’ equity, net of the effect of income taxes, until they are sold. At the time of sale, any gains or losses, calculated by the specific identification method, will be recognized as a component of operating results and any amounts previously included in stockholders’ equity, which were recorded net of the income tax effect, will be reversed. In accordance with ASC 326, we do not maintain an allowance for credit losses for accrued interest receivable. Loans The Company’s loans are currently reported at the principal amount outstanding, inclusive of deferred loan acquisition costs, which primarily includes deferred fees paid to loan originators, and which are amortized to interest income over the life of the loan. Loan origination fees and certain direct origination costs are deferred and recognized as an adjustment to the yield of the related loans. At March 31, 2024 and December 31, 2023, net loan origination costs were $ 40.7 million and $ 40.0 million. Net amortization to income was $ 2.0 million for the three months ended March 31, 2024 and was $ 1.9 million for the three months ended March 31, 2023. Interest income is recorded on the accrual basis. Taxi medallion and commercial loans are placed on nonaccrual status, and all uncollected accrued interest is reversed, when there is doubt as to the collectability of interest or principal, or if loans are 90 days or more past due, unless management has determined that they are both well-secured and in the process of collection. Interest income on nonaccrual loans is generally recognized when cash is received unless a determination has been made to apply all cash receipts to principal. The consumer loan portfolio is typified by a larger number of smaller dollar loans that have similar characteristics. A loan is considered to be impaired, or nonperforming, when based on current information and events, it is unlikely the Company will be able to collect all amounts due according to the contractual terms of the original loan agreement. Management considers loans that are in bankruptcy status, but have not been charged-off, to be impaired. Consumer loans are placed on nonaccrual when they become 90 days past due, or earlier if they enter bankruptcy, and are charged-off in their entirety when deemed uncollectible, or when they become 120 days past due, whichever occurs first, at which time appropriate recovery efforts against both the borrower and the underlying collateral are initiated. For the recreation loan portfolio, the process to repossess the collateral is started at 60 days past due. If the collateral is not located and the account reaches 120 days delinquent, the account is charged-off. If the collateral is repossessed, a loss is recorded by writing the collateral down to its fair value less selling costs, and the collateral is sent to auction. When the collateral is sold, the net auction proceeds are applied to the account, and any remaining balance is written off. Proceeds collected on charged-off accounts are recorded as recoveries. Total loans 90 days or more past due were $ 16.1 million at March 31, 2024, or 0.74 % of the total loan portfolio, compared to $ 16.8 million , or 0.77 % , at December 31, 2023 . Beginning in the first quarter of 2023, the Company began charging off recreation loans at the point when borrowers filed for bankruptcy. This change resulted in approximately $ 2.5 million of loans being charged off in the first quarter of 2023. The Company may modify the contractual cash flow of loans in situations where borrowers are experiencing financial difficulties. The Company strives to identify borrowers in financial difficulty early and work with them to modify their loans to more affordable terms before they reach nonaccrual status. These modified terms may include interest rate reductions, principal forgiveness, term extensions, payment forbearance and other actions intended to minimize the economic loss to the Company and to avoid foreclosure or repossession of the collateral. For modifications where the Company forgives principal, the entire amount of such principal forgiveness is immediately charged off. Modified loans are considered impaired loans. Loan collateral in process of foreclosure primarily includes taxi medallion loans that have reached 120 days past due and have been charged down to their net realizable value, in add ition to consumer repossessed collateral in the process of being sold. For New York City taxi medallion loans in the process of foreclosure, the Company continued to utilize a net value of $ 79,500 when assessing net realizable value for these taxi medallion loans, despite fluctuating current transfer prices which may exceed that level from time to time . The "loan collateral in the process of foreclosure" designation reflects that the collection activities on these loans have transitioned from working with the borrower to the liquidation of the collateral securing the loans. The Company accounts for its sales of loans in accordance with FASB Accounting Standards Codification Topic 860, Transfers and Servicing, or FASB ASC 860, which provides accounting and reporting standards for transfers and servicing of financial assets and extinguishments of liabilities. In accordance with FASB ASC 860, the Company had elected the fair value measurement method for its servicing assets and liabilities. The principal portion of loans serviced for others by the Company and its affiliates was $ 14.0 million at March 31, 2024 and December 31, 2023. The Company has evaluated the servicing aspect of its business in accordance with FASB ASC 860 and determined that no material servicing asset or liability existed as of March 31, 2024 and December 31, 2023 . Allowance for Credit Losses On January 1, 2023, the Company adopted Accounting Standards Update 2016-13, "Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments", or ASC 326, which replaced the incurred loss methodology that delayed recognition until it was probable a loss had been incurred with a lifetime expected loss methodology using "reasonable and supportable" expectations about the future, referred to as the current expected credit loss, or CECL, methodology. For consumer loans, the Company uses historical delinquent loan performance and actual loss rates modified by quantitative adjustments based on macroeconomic factors over a twelve-month reasonable and supportable forecast period. For commercial loans, the Company assesses the historical impact that macroeconomic indicators have had on the loan portfolio, to determine an approximate allowance for credit loss. Unlike consumer loans, where loans may have similar performing characteristics, each commercial loan is unique. The Company evaluates each commercial loan for specific impairment with additional allowance for credit losses recognized as necessary. For taxi medallion loans, the Company maintains specific reserves adjusting the carrying amount of loans down to net collateral value. The allowance is evaluated on a quarterly basis by management based on the collectability of the loans in light of historical experience, the nature and size of the loan portfolio, adverse situations that may affect the borrowers' ability to repay, estimated value of any underlying collateral, prevailing economic conditions, and excess concentration risks. This evaluation is inherently subjective, as it requires estimates, including those based on changes in economic conditions, that are susceptible to significant revision as more information becomes available. Credit losses are deducted from the allowance, and subsequent recoveries are added back to the allowance. The Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance-sheet credit exposures. Results for reporting periods beginning after December 15, 2022 are presented under ASC 326. The transition to the CECL methodology on January 1, 2023 resulted in an increase of $ 13.7 million to the Company's allowance for credit losses on loans, or ACL, and a net-of-tax cumulative-effect adjustment of $ 9.9 million to the beginning balance of retained earnings. The CECL methodology transition effects on the allowance for credit losses are shown in the following table: (Dollars in thousands) December 31, 2022 Effect of ASC 326 January 1, 2023 Assets: Loans: Recreation $ 41,966 $ 10,037 $ 52,003 Home improvement 11,340 1,518 12,858 Commercial 1,049 2,157 3,206 Taxi medallion 9,490 — 9,490 Strategic partnership — — — Allowance for credit losses on loans $ 63,845 $ 13,712 $ 77,557 Prior to January 1, 2023, the Company used historical delinquency and actual loss rates with a three-year look-back period for taxi medallion loans and a one-year look-back period for recreation and home improvement loans and used historical loss experience and other projections for commercial loans. The allowance was evaluated on a quarterly basis by management based on the collectability of the loans in light of historical experience, the nature and size of the loan portfolio, adverse situations that may affect the borrowers' ability to repay, estimated value of any underlying collateral, prevailing economic conditions, and excess concentration risks. This evaluation was inherently subjective, as it required estimates that were susceptible to significant revision as more information became available. Goodwill and Intangible Assets The Company’s goodwill and intangible assets arose as a result of the excess of fair value over book value for several of the Company’s previously unconsolidated portfolio investment companies as of April 2, 2018. This fair value was brought forward under the Company’s new reporting and was subject to a purchase price accounting allocation process conducted by an independent third- party expert to arrive at the current categories and amounts. Goodwill is not amortized, but is subject to quarterly review by management to determine whether additional impairment testing is needed, and such testing is performed at least on an annual basis. Intangible assets are amortized over their useful life of approximately 20 years. As of March 31, 2024 and December 31, 2023, the Company had goodwill of $ 150.8 million , all of which related to the Bank. As of March 31, 2024 and December 31, 2023, the Company had intangible assets of $ 20.2 million and $ 20.6 million . Amortization expense on the intangible assets for the three months ended March 31, 2024 and 2023 was $ 0.4 million. Management performed a step 0 analysis in assessing the goodwill and intangibles for impairment at December 31, 2023 , concluding that there was no impairment of these assets. The following table details the intangible assets as of the dates presented: (Dollars in thousands) March 31, 2024 December 31, 2023 Brand-related intellectual property $ 15,400 $ 15,675 Home improvement contractor relationships 4,830 4,916 Total intangible assets $ 20,230 $ 20,591 Fixed Assets Fixed assets are carried at cost less accumulated depreciation and amortization, and are depreciated on a straight-line basis over their estimated useful lives of 3 to 10 years . Leasehold improvements are amortized on a straight-line basis over the shorter of the lease term or the estimated economic useful life of the improvement. Depreciation and amortization expense was $ 0.1 million three months ended March 31, 2024 and 2023 . Deferred Costs Deferred financing costs represent costs associated with obtaining the Company’s borrowing facilities, and are amortized on a straight-line basis over the lives of the related financing agreements and life of the respective pool. Amortization expense was $ 0.8 million for the three months ended March 31, 2024 and 2023. In addition, the Company capitalizes certain costs for transactions in the process of completion (other than business combinations), including those for potential investments, and the sourcing of other financing alternatives. Upon completion or termination of the transaction, any accumulated amounts will be amortized against income over an appropriate period, or written off. The amount on the Company’s balance sheet for all of these purposes were $ 8.5 million as of both March 31, 2024 and December 31, 2023 . Income Taxes Income taxes are accounted for using the asset and liability approach in accordance with FASB ASC Topic 740, Income Taxes, or ASC 740. Deferred tax assets and liabilities reflect the impact of temporary differences between the carrying amount of assets and liabilities and their tax basis and are stated at tax rates expected to be in effect when taxes are actually paid or recovered. Deferred tax assets are also recorded for net operating losses, capital losses and any tax credit carryforwards. A valuation allowance is provided against a deferred tax asset when it is more likely than not that some or all of the deferred tax assets will not be realized. All available evidence, both positive and negative, is considered to determine whether a valuation allowance for deferred tax assets is needed. Items considered in determining the Company’s valuation allowance include expectations of future earnings of the appropriate tax character, recent historical financial results, tax planning strategies, the length of statutory carryforward periods and the expected timing of the reversal of temporary differences. The Company recognizes tax benefits of uncertain tax positions only when the position is more likely than not to be sustained assuming examination by tax authorities. The Company records income tax related interest and penalties, if applicable, within current income tax expense. Earnings Per Share (EPS) Basic earnings per share are computed by dividing net income resulting from operations available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution that could occur if option contracts to issue common stock were exercised, or if restricted stock vests, and has been computed after considering the weighted average dilutive effect of the Company’s stock options and restricted stock. The Company uses the treasury stock method to calculate diluted EPS, which is a method of recognizing the use of proceeds that could be obtained upon exercise of options and warrants, including unvested compensation expense related to the shares, in computing diluted EPS. It assumes that any proceeds would be used to purchase common stock at the average market price during the period. The table below shows the calculation of basic and diluted EPS. Three Months Ended March 31, (Dollars in thousands, except share and per share data) 2024 2023 Net income attributable to common stockholders $ 10,024 $ 15,361 Weighted average common shares outstanding applicable to basic EPS 22,641,385 22,342,911 Effect of restricted stock grants 610,333 483,429 Effect of dilutive stock options 254,793 149,117 Effect of performance stock unit grants 258,534 — Adjusted weighted average common shares outstanding applicable to diluted EPS 23,765,045 22,975,457 Basic net income per share $ 0.44 $ 0.69 Diluted net income per share 0.42 0.67 Potentially dilutive common shares excluded from the above calculations aggregated 9,000 shares as of March 31, 2024 and 2023 . Stock Compensation The Company follows FASB ASC Topic 718, or ASC 718, Compensation – Stock Compensation, for its equity incentive, stock option, and restricted stock plans, and accordingly, the Company recognizes the expense of these grants as required. Stock-based employee compensation costs pertaining to stock options are reflected in net income resulting from operations for any new grants using the fair values established by usage of the Black-Scholes option pricing model, expensed over the vesting period of the underlying option. Stock-based employee compensation costs pertaining to restricted stock are reflected in net income resulting from operations for any new grants using the grant date fair value of the shares granted, expensed over the vesting period of the underlying stock. During the three months ended March 31, 2024 and 2023 , the Company issued 296,178 and 304,749 restricted shares of stock-based compensation awards, 215,687 and 0 performance stock units, and no restricted stock units or shares of other stock-based compensation awards. The Company recognized $ 1.5 million , or $ 0.06 per share, for the three months ended March 31, 2024 , and $ 1.0 million, or $ 0.05 per diluted common share, for the three months ended March 31, 2023, of non-cash stock-based compensation expense related to the grants. As of March 31, 2024 , the total remaining unrecognized compensation cost related to unvested stock options and restricted stock was $ 9.3 million, which is expected to be recognized over the next 12 quarters. Regulatory Capital The Bank is subject to various regulatory capital requirements administered by the FDIC and the Utah Department of Financial Institutions. Failure to meet minimum capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classifications are also subject to qualitative judgments by the bank regulators about components, risk weightings, and other factors. FDIC-insured banks, including the Bank, are subject to certain federal laws, which impose various legal limitations on the extent to which banks may finance or otherwise supply funds to certain of their affiliates. In particular, the Bank is subject to certain restrictions on any extensions of credit to, or other covered transactions with, such as certain purchases of assets, the Company or its affiliates. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios as defined in the regulations (set forth in the table belo w). Additionally, as conditions of granting the Bank’s application for federal deposit insurance, the FDIC ordered that the Tier 1 leverage capital to total assets ratio, as defined, be not less than 15 %, a level which could affect the Bank's ability to pay dividends to the Company, and that an adequate allowance for credit losses be maintained. As of March 31, 2024, the Bank’s Tier 1 leverage ratio was 16.4 % . The Bank’s actual capital amounts and ratios, and the regulatory minimum ratios are presented in the following table. Regulatory (Dollars in thousands) Minimum Well-Capitalized March 31, 2024 December 31, 2023 Common equity tier 1 capital $ 298,662 $ 293,774 Tier 1 capital 367,450 362,561 Total capital 395,297 390,153 Average assets 2,236,357 2,232,816 Risk-weighted assets 2,176,939 2,155,641 Leverage ratio (1) 4.0 % 5.0 % 16.4 % 16.2 % Common equity tier 1 capital ratio (2) 7.0 6.5 13.7 13.6 Tier 1 capital ratio (3) 8.5 8.0 16.9 16.8 Total capital ratio (3) 10.5 10.0 18.2 18.1 (1) Calculated by dividing Tier 1 capital by average assets. (2) Calculated by subtracting preferred stock or non-controlling interest from Tier 1 capital and dividing by risk-weighted assets. (3) Calculated by dividing Tier 1 or total capital by risk-weighted assets. In the table above, the minimum risk-based ratios as of March 31, 2024 and December 31, 2023 reflect the capital conservation buffer of 2.5 %. The minimum regulatory requirements, inclusive of the capital conservation buffer, were the binding requirements for the risk-based requirements, and the “well-capitalized” requirements were the binding requirements for Tier 1 leverage capital as of both March 31, 2024 and December 31, 2023 . Recently Issued and Adopted Accounting Standards In March 2023, the FASB issued ASU 2023-02, Investments - Equity Method and Joint Ventures, or Topic 323: Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method. The main objective of this new standard is to allow reporting entities to consistently account for equity investments made primarily for the purpose of receiving income tax credits and other income tax benefits. The Company is assessing the impact of the update on the accompanying financial statements. In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements. The amendments in this update seek to clarify or improve disclosure and presentation requirements. The Company is assessing the impact of the update on the accompanying financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting, or Topic 280: Improvements to Reportable Segment Disclosures. The main objective of this update is to provide transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The amendments in this update are effective for fiscal years beginning after December 15, 2023. The Company is assessing the impact of the update on the accompanying financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes, or Topic 740: Improvements to Income Tax Disclosures. The main objective of this update is to improve financial reporting disclosure of incremental segment information on an annual and interim basis for all public entities to enable investors to develop more decision-useful financial analyses. The amendments in this update are effective for the annual periods beginning after December 15, 2024. The Company is assessing the impact of the update on the accompanying financial statements. Reclassifications Certain reclassifications have been made to prior year balances to conform with the current year presentation. These reclassifications have no effect on the previously reported results of operations.

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2024
Schedule of Investments [Abstract]
Investment Securities	(3) INVESTMENT SECURITIES The following tables present details of fixed maturity securities available for sale as of March 31, 2024 and December 31, 2023: March 31, 2024 (Dollars in thousands) Amortized Gross Gross Fair Mortgage-backed securities, principally obligations of U.S. federal agencies $ 43,804 $ — $ ( 5,074 ) $ 38,730 State and municipalities 13,550 13 ( 1,415 ) 12,148 Agency bonds 2,185 — ( 25 ) 2,160 Total $ 59,539 $ 13 $ ( 6,514 ) $ 53,038 December 31, 2023 (Dollars in thousands) Amortized Gross Gross Fair Mortgage-backed securities, principally obligations of U.S. federal agencies $ 44,653 $ — $ ( 4,791 ) $ 39,862 State and municipalities 13,733 21 ( 1,501 ) 12,253 Agency bonds 2,187 — ( 20 ) 2,167 Total $ 60,573 $ 21 $ ( 6,312 ) $ 54,282 The amortized cost and estimated market value of investment securities at March 31, 2024 by contractual maturity are shown below. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. March 31, 2024 (Dollars in thousands) Amortized Fair Due in one year or less $ 3,970 $ 3,886 Due after one year through five years 5,885 5,662 Due after five years through ten years 8,484 7,414 Due after ten years 41,200 36,076 Total $ 59,539 $ 53,038 The following tables show information pertaining to securities with gross unrealized losses at March 31, 2024 and December 31, 2023, aggregated by investment category and length of time that individual securities have been in a continuous loss position. Less than Twelve Months Twelve Months and Over March 31, 2024 (Dollars in thousands) Gross Fair Gross Fair Mortgage-backed securities, principally obligations of U.S. federal agencies $ ( 39 ) $ 1,875 $ ( 5,035 ) $ 36,766 State and municipalities ( 1 ) 41 ( 1,414 ) 12,064 Agency bonds — — ( 25 ) 2,160 Total $ ( 40 ) $ 1,916 $ ( 6,474 ) $ 50,990 Less than Twelve Months Twelve Months and Over December 31, 2023 (Dollars in thousands) Gross Fair Gross Fair Mortgage-backed securities, principally obligations of U.S. federal agencies $ ( 78 ) $ 5,797 $ ( 4,714 ) $ 33,971 State and municipalities ( 204 ) 4,839 ( 1,296 ) 7,371 Agency bonds — — ( 20 ) 2,167 Total $ ( 282 ) $ 10,636 $ ( 6,030 ) $ 43,509 As of March 31, 2024 and December 31, 2023 , the Company had 60 securities with unrealized losses that have not been recognized in income. The investments are mortgage-backed securities and similar instruments with lower risk characteristics. The Company regularly reviews investment securities for impairment resulting from credit loss using both qualitative and quantitative criteria, as necessary based on the composition of the portfolio at period end. Based on our assessment, no material impairments for credit losses were recognized during the period. We presently do not intend to sell our investment securities that are in an unrealized loss position and believe that it is unlikely that we will be required to sell these securities before recovery of our amortized cost.

Loans and Allowance for Credit

Loans and Allowance for Credit Losses	3 Months Ended
	Mar. 31, 2024
Text Block [Abstract]
Loans and Allowance for Credit Losses	(4) LOANS AND ALLOWANCE FOR CREDIT LOSSES The following table shows the major classification of loans, inclusive of capitalized loan origination costs, as of March 31, 2024 and December 31, 2023. March 31, 2024 December 31, 2023 (Dollars in thousands) Amount As a Amount As a Recreation $ 1,365,165 61 % $ 1,336,226 60 % Home improvement 752,262 34 760,617 34 Commercial 106,570 5 114,827 5 Taxi medallion 3,560 * 3,663 * Strategic partnership 869 * 553 * Total gross loans 2,228,426 100 % 2,215,886 100 % Allowance for credit losses ( 83,827 ) ( 84,235 ) Total net loans $ 2,144,599 $ 2,131,651 (*) Less than 1%. The following tables show the activity of the gross loans for the three months ended March 31, 2024 and 2023. Three Months Ended March 31, 2024 (Dollars in thousands) Recreation Home Commercial Taxi Strategic Total Gross loans – December 31, 2023 $ 1,336,226 $ 760,617 $ 114,827 $ 3,663 $ 553 $ 2,215,886 Loan originations 105,765 51,576 — — 15,746 173,087 Principal payments, sales, maturities, and recoveries ( 64,886 ) ( 54,917 ) ( 8,872 ) ( 103 ) ( 15,430 ) ( 144,208 ) Charge-offs ( 18,101 ) ( 4,898 ) — — — ( 22,999 ) Transfer to loan collateral in process of foreclosure, net 5,425 — — — — 5,425 Amortization of origination costs ( 2,952 ) 938 7 — — ( 2,007 ) FASB origination costs, net 3,688 ( 1,054 ) — — — 2,634 Paid-in-kind interest — — 608 — — 608 Gross loans – March 31, 2024 $ 1,365,165 $ 752,262 $ 106,570 $ 3,560 $ 869 $ 2,228,426 Three Months Ended March 31, 2023 (Dollars in thousands) Recreation Home Commercial Taxi Strategic Total Gross loans – December 31, 2022 $ 1,183,512 $ 626,399 $ 92,899 $ 13,571 $ 572 $ 1,916,953 Loan originations 101,681 94,981 3,000 623 27,006 227,291 Principal payments, sales, maturities, and recoveries ( 56,217 ) ( 49,855 ) ( 834 ) ( 4,395 ) ( 25,808 ) ( 137,109 ) Charge-offs ( 12,590 ) ( 1,914 ) — ( 3,593 ) — ( 18,097 ) Transfer to loan collateral in process of foreclosure, net ( 4,357 ) — — ( 2,147 ) — ( 6,504 ) Amortization of origination costs ( 2,759 ) 586 — — — ( 2,173 ) FASB origination costs, net 4,110 ( 555 ) — — — 3,555 Paid-in-kind interest — — 264 — — 264 Gross loans – March 31, 2023 $ 1,213,380 $ 669,642 $ 95,329 $ 4,059 $ 1,770 $ 1,984,180 The following table sets forth the activity in the allowance for credit losses for the three months ended March 31, 2024 and 2023. Three Months Ended March 31, (Dollars in thousands) 2024 2023 Allowance for credit losses – beginning balance (1) $ 84,235 $ 63,845 CECL transition amount upon ASU 2016-13 adoption — 13,712 Charge-offs Recreation ( 18,101 ) ( 12,590 ) Home improvement ( 4,898 ) ( 1,914 ) Commercial — — Taxi medallion — ( 3,593 ) Total charge-offs ( 22,999 ) ( 18,097 ) Recoveries Recreation 3,548 2,771 Home improvement 911 632 Commercial 20 10 Taxi medallion 911 3,369 Total recoveries 5,390 6,782 Net charge-offs (2) ( 17,609 ) ( 11,315 ) Provision for credit losses 17,201 4,038 Allowance for credit losses – ending balance (3) $ 83,827 $ 70,280 (1) 2023 beginning balance represents allowance prior to the adoption of ASU 2016-13. (2) As of March 31, 2024 , cumulative net charge-offs of loans and loan collateral in process of foreclosure in the taxi medallion loan portfolio were $ 173.7 million, including $ 105.5 million related to loans secured by New York City taxi medallions, some of which may represent collection opportunities for the Company. (3) As of March 31, 2024 and March 31, 2023 , there were no allowance for credit losses and net charge-offs related to the strategic partnership loans. The following table sets forth the gross charge-offs for the three months ended March 31, 2024, by the year of origination: (Dollars in thousands) 2024 2023 2022 2021 2020 Prior Total Recreation $ — $ 3,763 $ 6,818 $ 3,497 $ 1,289 $ 2,734 $ 18,101 Home improvement — 1,524 1,680 1,163 287 244 4,898 Commercial — — — — — — — Taxi medallion — — — — — — — Total $ — $ 5,287 $ 8,498 $ 4,660 $ 1,576 $ 2,978 $ 22,999 The following table sets forth the gross charge-offs for the three months ended March 31, 2023, by the year of origination: (Dollars in thousands) 2023 2022 2021 2020 2019 Prior Total Recreation $ — $ 3,608 $ 3,070 $ 1,671 $ 1,554 $ 2,687 $ 12,590 Home improvement — 904 628 143 131 108 1,914 Commercial — — — — — — — Taxi medallion — — — — — 3,593 3,593 Total $ — $ 4,512 $ 3,698 $ 1,814 $ 1,685 $ 6,388 $ 18,097 The following tables set forth the allowance for credit losses by type as of March 31, 2024 and December 31, 2023. March 31, 2024 (Dollars in thousands) Amount Percentage Allowance as Allowance as Recreation $ 60,011 72 % 4.40 % 274.26 % Home improvement 17,930 21 2.38 81.94 Commercial 4,384 5 4.11 20.04 Taxi medallion 1,502 2 42.20 6.86 Total $ 83,827 100 % 3.76 % 383.10 % December 31, 2023 (Dollars in thousands) Amount Percentage Allowance as Allowance as Recreation $ 57,532 68 % 4.31 % 221.50 % Home improvement 21,019 25 2.76 80.92 Commercial 4,148 5 3.61 15.97 Taxi medallion 1,536 2 41.93 5.91 Total $ 84,235 100 % 3.80 % 324.31 % The following table presents total nonaccrual loans and foregone interest, substantially all of which is in the taxi medallion portfolio. The fluctuation in nonaccrual interest foregone is due to past due loans and market conditions. (Dollars in thousands) March 31, 2024 December 31, 2023 Total nonaccrual loans $ 21,881 $ 25,974 Interest foregone quarter to date 309 928 Amount of foregone interest applied to principal in the quarter 64 238 Interest foregone life-to-date 1,101 2,119 Amount of foregone interest applied to principal life-to-date 816 822 Percentage of nonaccrual loans to gross loan portfolio 1.0 % 1.2 % Percentage of allowance for credit losses to nonaccrual loans 383.1 % 324.3 % The following tables present the performance status of loans as of March 31, 2024 and December 31, 2023. March 31, 2024 (Dollars in thousands) Performing Nonperforming Total Percentage of Recreation $ 1,358,293 $ 6,872 $ 1,365,165 0.50 % Home improvement 750,903 1,359 752,262 0.18 Commercial 96,480 10,090 106,570 9.47 Taxi medallion — 3,560 3,560 100.00 Strategic partnership 869 — 869 — Total $ 2,206,545 $ 21,881 $ 2,228,426 0.98 % December 31, 2023 (Dollars in thousands) Performing Nonperforming Total Percentage of Recreation $ 1,326,567 $ 9,659 $ 1,336,226 0.72 % Home improvement 759,128 1,489 760,617 0.20 Commercial 103,664 11,163 114,827 9.72 Taxi medallion — 3,663 3,663 100.00 Strategic partnership 553 — 553 — Total $ 2,189,912 $ 25,974 $ 2,215,886 1.17 % For those loans aged under 90 days past due, there is a possibility that their delinquency status will continue to deteriorate and they will subsequently be placed on nonaccrual status and be reserved for, and as such, deemed nonperforming. The following tables provide additional information on attributes of the nonperforming loan portfolio as of March 31, 2024 and December 31, 2023, all of which had an allowance recorded against the principal balance. March 31, 2024 December 31, 2023 (Dollars in thousands) Recorded Unpaid Related Recorded Unpaid Related With an allowance recorded Recreation $ 6,872 $ 6,872 $ 302 $ 9,655 $ 9,655 $ 416 Home improvement 1,359 1,359 32 1,493 1,493 41 Commercial 10,090 10,243 2,320 11,163 11,301 1,897 Taxi medallion 3,560 4,223 1,502 3,663 4,347 1,536 Total nonperforming loans with an allowance $ 21,881 $ 22,697 $ 4,156 $ 25,974 $ 26,796 $ 3,890 Three Months Ended March 31, 2024 2023 (Dollars in thousands) Average Interest Income Average Interest Income With an allowance recorded Recreation $ 6,721 $ 16 $ 4,656 $ 13 Home improvement 1,363 1 441 1 Commercial 10,243 — 5,652 — Taxi medallion 4,254 — 6,093 — Total nonperforming loans with an allowance $ 22,581 $ 17 $ 16,842 $ 14 T he following tables show the aging of all loans as of March 31, 2024 and December 31, 2023. March 31, 2024 Days Past Due Recorded (Dollars in thousands) 30-59 60-89 90 + Total Current Total (1) Accruing Recreation $ 37,205 $ 11,905 $ 6,374 $ 55,484 $ 1,265,310 $ 1,320,794 $ — Home improvement 3,495 1,680 1,362 6,537 749,294 755,831 — Commercial — — 8,396 8,396 99,190 107,586 — Taxi medallion — 100 — 100 3,460 3,560 — Strategic partnership — — — — 869 869 — Total $ 40,700 $ 13,685 $ 16,132 $ 70,517 $ 2,118,123 $ 2,188,640 $ — (1) Excludes $ 40.7 million of capitalized loan origination costs. December 31, 2023 Days Past Due Recorded (Dollars in thousands) 30-59 60-89 90 + Total Current Total (1) Accruing Recreation $ 40,282 $ 15,039 $ 9,095 $ 64,416 $ 1,228,175 $ 1,292,591 $ — Home improvement 3,936 2,562 1,502 8,000 756,069 764,069 — Commercial — 2,156 6,240 8,396 107,140 115,536 — Taxi medallion 201 — — 201 3,462 3,663 — Strategic partnership — — — — 553 553 — Total $ 44,419 $ 19,757 $ 16,837 $ 81,013 $ 2,095,399 $ 2,176,412 $ — (1) Excludes $ 40.0 million of capitalized loan origination costs. The Company estimates that the weighted average loan-to-value ratio of the taxi medallion loans was approximately 188 % and 183 % as of March 31, 2024 and December 31, 2023. The following tables show the activity of loan collateral in process of foreclosure, which relate only to the recreation and taxi medallion loans, for the three months ended March 31, 2024 and 2023. Three Months Ended March 31, 2024 (Dollars in thousands) Recreation Taxi Total Loan collateral in process of foreclosure – December 31, 2023 $ 1,779 $ 9,993 $ 11,772 Transfer from loans, net 5,425 — 5,425 Sales — ( 39 ) ( 39 ) Cash payments received ( 2,447 ) ( 1,273 ) ( 3,720 ) Collateral valuation and other adjustments ( 3,282 ) 42 ( 3,240 ) Loan collateral in process of foreclosure – March 31, 2024 $ 1,475 $ 8,723 $ 10,198 Three Months Ended March 31, 2023 (Dollars in thousands) Recreation Taxi Total Loan collateral in process of foreclosure – December 31, 2022 $ 1,376 $ 20,443 $ 21,819 Transfer from loans, net 4,357 2,147 6,504 Sales ( 2,195 ) ( 15 ) ( 2,210 ) Cash payments received — ( 3,317 ) ( 3,317 ) Collateral valuation adjustments ( 2,077 ) ( 252 ) ( 2,329 ) Loan collateral in process of foreclosure – March 31, 2023 $ 1,461 $ 19,006 $ 20,467 As of March 31, 2024, taxi medallion loans in the process of foreclosure included 329 taxi medallions in the New York City market, 193 taxi medallions in the Chicago market, 25 taxi medallions in the Newark market, and 31 taxi medallions in various other markets.

Funds Borrowed

Funds Borrowed	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Funds Borrowed	(5) FUNDS BORROWED The following table presents outstanding balances of funds borrowed. Payments Due for the Twelve Months Ending March 31, (Dollars in thousands) 2025 2026 2027 2028 2029 Thereafter March 31, 2024 (1) December 31, 2023 (1) Interest (2) Deposits (3) $ 721,155 $ 479,582 $ 350,070 $ 157,800 $ 173,239 $ — $ 1,881,846 $ 1,869,439 3.17 % Retail and privately placed notes — 31,250 — 53,750 39,000 12,500 136,500 139,500 8.08 SBA debentures and borrowings 12,500 15,500 4,500 — 2,500 37,750 72,750 75,250 3.54 Trust preferred securities — — — — — 33,000 33,000 33,000 7.71 Federal reserve and other borrowings 20,000 — — — — — 20,000 — 5.95 Total $ 753,655 $ 526,332 $ 354,570 $ 211,550 $ 214,739 $ 83,250 $ 2,144,096 $ 2,117,189 3.59 % (1) Excludes deferred financing costs of $ 8.5 million as of both March 31, 2024 and December 31, 2023 . (2) Weighted average contractual rate as of March 31, 2024 . (3) Balance excludes $ 1.5 million of strategic partner reserve deposits as of both March 31, 2024 and December 31, 2023 . (A) DEPOSITS Most deposits are raised through the use of investment brokerage firms that package time deposits in denominations of less than $ 250,000 qualifying for FDIC insurance into larger pools that are sold to the Bank. The rates paid on the deposits are highly competitive with market rates paid by other financial institutions. Additionally, a brokerage fee is paid, depending on the maturity of the deposits, which averages less than 0.15 %. Interest on the deposits is accrued daily and paid monthly, quarterly, semiannually, or at maturity. Additionally, the Bank raises deposits through listing services and, as of March 31, 2024 and December 31, 2023, the Bank had $ 12.1 million and $ 11.8 million in listing service deposit balances from other financial institutions. In April 2023, the Bank began to originate retail savings deposits through a third-party service provider and, as of March 31, 2024 and December 31, 2023 , the Bank had $ 12.4 million and $ 14.9 million in retail savings deposit balances. The following table presents the maturity of the deposit pools, which includes strategic partner reserve deposits, as of March 31, 2024. (Dollars in thousands) March 31, 2024 Three months or less $ 202,913 Over three months through six months 186,507 Over six months through one year 331,735 Over one year 1,160,691 Deposits 1,881,846 Strategic partner collateral deposits 1,500 Total deposits $ 1,883,346 (B) FEDERAL RESERVE DISCOUNT WINDOW AND OTHER BORROWINGS In March 2023, the Bank established a discount window line of credit at the Federal Reserve. As of March 31, 2024 , the Bank had approximately $ 36.9 million in investment securities pledged as collateral to the Federal Reserve. The current advance rate on the pledged securities is 100 % of fair value, for a total of approximately $ 36.9 million in secured borrowing capacity, of which none was utilized as of March 31, 2024. The Bank has borrowing arrangements with several commercial banks. These agreements are accommodations that can be terminated at any time, for any reason, and allow the Bank to borrow up to $ 75.0 million. As of March 31, 2024 , $ 20.0 million was utilized. (C) PRIVATELY PLACED NOTES In December 2023, the Company completed a private placement to certain institutional investors of $ 12.5 million aggregate principal amount of 9.00 % unsecured senior notes due December 2033 , with interest payable semiannually. The Company used the net proceeds from the offering for general corporate purposes, which included the repayment of the remaining 8.25 % notes that matured in March 2024 . In September 2023, the Company completed a private placement to certain institutional investors of $ 39.0 million aggregate principal amount of 9.25 % unsecured senior notes due September 2028 , with interest payable semiannually. The Company used the net proceeds from the offering for general corporate purposes, including the repurchase of $ 33.0 million of the 8.25 % notes issued in March 2019 with a maturity date of March 2024 described below. In February 2021, the Company completed a private placement to certain institutional investors of $ 25.0 million aggregate principal amount of 7.25 % unsecured senior notes due February 2026 , with interest payable semiannually. In March 2021, an additional $ 3.3 million principal amount of such notes was issued to certain institutional investors. Subsequently in April 2021, an additional $ 3.0 million principal amount of such notes was issued to certain institutional investors. The Company used the net proceeds from the offering for general corporate purposes, including repayment of outstanding debt. In December 2020, the Company completed a private placement to certain institutional investors of $ 33.6 million aggregate principal amount of 7.50 % unsecured senior notes due December 2027 , with interest payable semiannually. In February and March 2021, an additional $ 8.5 million principal amount of such notes was issued to certain institutional investors. Subsequently in April 2021, an additional $ 11.7 million principal amount of such notes was issued to certain institutional investors. The Company used the net proceeds from the offering for general corporate purposes, including repayment of outstanding debt. In March 2019, the Company completed a private placement to certain institutional investors of $ 30.0 million aggregate principal amount of 8.25 % unsecured senior notes due in March 2024 , with interest payable semiannually. The Company used the net proceeds from the offering for general corporate purposes, including repaying certain borrowings under its notes payable to banks at a discount which led to a gain of $ 4.1 million in 2019. In August 2019, an additional $ 6.0 million principal amount of such notes was issued to certain institutional investors. As described above, in September 2023, the Company repurchased and cancelled $ 33.0 million of these notes. The remaining $ 3.0 million principal amount outstanding was repaid in March 2024 at maturity . (D) SBA DEBENTURES AND BORROWINGS Over the years, the SBA has approved commitments for Medallion Capital and FSVC, typically for a four and a half year term and a 1 % fee. During 2017, the SBA restructured FSVC’s debentures with SBA totaling $ 33.5 million in principal into a new loan by the SBA to FSVC in the principal amount of $ 34.0 million, or the SBA Loan. In connection with the SBA Loan, FSVC executed a Note, or the SBA Note, with an effective date of March 1, 2017, in favor of SBA, in the principal amount of $ 34.0 million. The SBA Loan bore an interest rate of 3.25 % with all remaining unpaid principal and interest being due on April 30, 2024 , the maturity date. In October 2023, FSVC repaid, in full, all amounts due to the SBA under the SBA Note. On July 10, 2023, Medallion Capital accepted a commitment from the SBA for $ 20.0 million in debenture financing. In connection with the commitment, Medallion Capital paid the SBA a leverage fee of $ 0.2 million, with an additional $ 0.4 million fee to be paid pro-rata as Medallion Capital draws under the commitment. As of March 31, 2024 , $ 9.8 million of the commitment had been drawn, and $ 8.0 million was drawable, with the balance of $ 2.2 million drawable upon the infusion of $ 1.1 million of capital from either the capitalization of retained earnings or a capital infusion into Medallion Capital from the Company. On February 28, 2024, Medallion Capital accepted a commitment from the SBA for $ 18.5 million in debenture financing with a ten-year term. Medallion Capital can draw funds under the commitment, in whole or in part, until September 30, 2028. In connection with the commitment, Medallion Capital paid the SBA a leverage fee of $ 0.2 million, with the remaining $ 0.4 million of the fee to be paid pro rata as Medallion Capital draws under the commitment. As of March 31, 2024 , none of the commitment had been drawn, with the entire $ 18.5 million drawable upon the infusion of $ 9.3 million of capital from either the capitalization of retained earnings or a capital infusion into Medallion Capital from the Company. (E) TRUST PREFERRED SECURITIES In June 2007, the Company issued and sold $ 36.1 million aggregate principal amount of unsecured junior subordinated notes to Fin Trust which, in turn, sold $ 35.0 million of trust preferred securities to Merrill Lynch International and issued 1,083 shares of common stock to the Company. With the cessation of LIBOR on June 30, 2023, interest is calculated using the Secured Overnight Financing Rate (SOFR) adjusted by a relevant spread adjustment of approximately 26 basis points , plus 2.13 %. The notes mature in September 2037 and are prepayable at par. Interest is payable quarterly in arrears. The terms of the trust preferred securities and the notes are substantially identical. In December 2007, $ 2.0 million of the trust preferred securities were repurchased from a third-party investor. As of March 31, 2024, $ 33.0 million was outstanding on the trust preferred securities. (F) OTHER BORROWINGS In January 2024, Medallion Capital entered into a $ 7.5 million revolving credit facility with a regional bank. The facility allows Medallion Capital to finance, on a short-term basis, investments for which it anticipates receiving financing from the SBA. The facility bears interest at a rate of 2.75 % plus one month SOFR, has an annual facility fee of 0.1 %, matures on January 1, 2025, and requires that Medallion Capital have total commitments available from the SBA of at least the total requested advance. As of March 31, 2024, the facility had no outstanding borrowings. (G) COVENANT COMPLIANCE Certain of the Company's debt agreements contain financial covenants that require the Company to maintain certain financial ratios and minimum tangible net worth. As of March 31, 2024 , the Company was in compliance with all such covenants.

Leases

Leases	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Leases	(6) LEASES The Company has leased premises that expire at various dates through November 30, 2030 subject to various operating leases. The Company has implemented ASC Topic 842 under a modified retrospective approach in which no adjustments have been made to the prior year balances. The following table presents the operating lease costs and additional information for the three months ended March 31, 2024 and 2023. Three Months Ended March 31, (Dollars in thousands) 2024 2023 Operating lease costs $ 604 $ 597 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases 657 623 Right-of-use asset obtained in exchange for lease liability ( 59 ) ( 56 ) The following table presents the breakout of the operating leases as of March 31, 2024 and December 31, 2023. (Dollars in thousands) March 31, 2024 December 31, 2023 Operating lease right-of-use assets $ 8,327 $ 8,785 Other current liabilities 2,255 2,472 Operating lease liabilities 6,710 7,019 Total operating lease liabilities 8,965 9,491 Weighted average remaining lease term 4.4 years 4.9 years Weighted average discount rate 5.56 % 5.47 % At March 31, 2024, maturities of the lease liabilities were as follows: (Dollars in thousands) Remainder of 2024 $ 1,903 2025 2,546 2026 2,567 2027 1,342 2028 573 Thereafter 1,139 Total lease payments 10,070 Less imputed interest 1,105 Total operating lease liabilities $ 8,965

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	(7) INCOME TAXES The Company is subject to federal and applicable state corporate income taxes on its taxable ordinary income and capital gains. As a corporation taxed under Subchapter C of the Internal Revenue Code, the Company is able, and intends, to file a consolidated federal income tax return with corporate subsidiaries in which it holds 80% or more of the outstanding equity interest measured by both vote and fair value. The following table sets forth the significant components of the Company's deferred and other tax assets and liabilities as of March 31, 2024 and December 31, 2023. (Dollars in thousands) March 31, 2024 December 31, 2023 Goodwill and other intangibles $ 42,943 $ 43,034 Provision for credit losses ( 12,005 ) ( 13,032 ) Net operating loss carryforwards (1) ( 3,803 ) ( 3,802 ) Accrued expenses, compensation, and other assets ( 4,794 ) ( 6,976 ) Unrealized gains on other investments ( 868 ) ( 1,877 ) Total deferred tax liability 21,473 17,347 Valuation allowance 3,373 3,860 Deferred tax liability, net $ 24,846 $ 21,207 (1) As of March 31, 2024 , the Company had an estimated $ 11.1 million of net operating loss carryforwards, $ 1.7 million of which expires at various dates between December 31, 2026 and December 31, 2035 , which had a net carrying value of $ 1.2 million as of March 31, 2024 . The following table shows the components of the Company's tax provision for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, (Dollars in thousands) 2024 2023 Current Federal $ 1,729 $ 2,583 State 643 789 Deferred Federal 3,116 2,246 State 870 764 Net provision for income taxes $ 6,358 $ 6,382 The following table presents a reconciliation of statutory federal income tax provision to consolidated actual income tax provision reported for the three months ended March 31, 2024 and 2023. Three Months Ended March 31, (Dollars in thousands) 2024 2023 Statutory Federal income tax provision at 21 % $ 3,758 $ 4,884 State and local income taxes, net of federal income tax benefit 735 955 Non-deductible expenses 1,780 1,058 Other 85 ( 515 ) Total income tax provision $ 6,358 $ 6,382 In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary differences become deductible pursuant to ASC 740. The Company considers the reversal of deferred tax liabilities, projected future taxable income, and tax planning strategies in making this assessment. The Company’s evaluation of the realizability of deferred tax assets must consider both positive and negative evidence. The weight given to the potential effects of positive and negative evidence is based on the extent to which it can be objectively verified. Based upon these considerations, the Company determined the necessary valuation allowance as of March 31, 2024. The Company has filed tax returns in many states. Federal, New York State, New York City, and Utah state tax filings of the Company for the tax years 2020 through the present are the more significant filings that are open for examination.

Stock Options and Restricted St

Stock Options and Restricted Stock	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Stock Options and Restricted Stock	(8) STOCK OPTIONS AND RESTRICTED STOCK The Company’s Board of Directors approved the 2018 Equity Incentive Plan, or the 2018 Plan, which was approved by the Company’s stockholders on June 15, 2018. The terms of 2018 Plan provide for grants of a variety of different type of stock awards to the Company’s employees and non-employee directors, including options, restricted stock, restricted stock units, performance share units, and stock appreciation rights, etc. On April 22, 2020, the Company’s Board of Directors approved an amendment to the 2018 Plan to increase the number of shares of the Company’s common stock authorized for issuance thereunder, which was approved by the Company’s stockholders on June 19, 2020, and subsequently on April 26, 2022, the Company’s Board of Directors approved an additional amendment to the 2018 Plan to further increase the number of shares of the Company’s common stock authorized for issuance thereunder, which was approved by the Company’s stockholders on June 14, 2022. A total of 5,710,968 shares of the Company’s common stock are issuable under the 2018 Plan, and 1,485,522 were issuable as of March 31, 2024. Awards under the 2018 Plan are subject to certain limitations as set forth in the 2018 Plan, which will terminate when all shares of common stock authorized for delivery have been delivered and the forfeiture restrictions on all awards have lapsed, or by action of the Board of Directors pursuant to the 2018 Plan, whichever occurs first. The Company’s Board of Directors approved the 2015 Non-Employee Director Stock Option Plan, or the 2015 Director Plan, on March 12, 2015, which was approved by the Company’s shareholders on June 5, 2015, and on which exemptive relief to implement the 2015 Director Plan was received from the SEC on February 29, 2016. A total of 300,000 shares of the Company’s common stock were issuable under the 2015 Director Plan, and 258,334 remained issuable as of June 15, 2018. Effective June 15, 2018, the 2018 Plan was approved, and these remaining shares were rolled into the 2018 Plan. Under the 2015 Director Plan, unless otherwise determined by a committee of the Board of Directors comprised of directors who are not eligible for grants under the 2015 Director Plan, the Company granted options to purchase 12,000 shares of the Company’s common stock to a non-employee director upon election to the Board of Directors, with an adjustment for directors who were elected to serve less than a full term. The option price per share could not be less than the current market value of the Company’s common stock on the date the option was granted. Options granted under the 2015 Director Plan vested annually, as defined in the 2015 Director Plan. The term of the options could not exceed ten years . The Company’s Board of Directors approved the First Amended and Restated 2006 Director Plan, or the Amended Director Plan, on April 16, 2009, which was approved by the Company’s shareholders on June 5, 2009, and on which exemptive relief to implement the Amended Director Plan was received from the SEC on July 17, 2012. A total of 200,000 shares of the Company’s common stock were issuable under the Amended Director Plan. No additional shares are available for issuance under the Amended Director Plan. Under the Amended Director Plan, unless otherwise determined by a committee of the Board of Directors comprised of directors who are not eligible for grants under the Amended Director Plan, the Company would grant options to purchase 9,000 shares of the Company’s common stock to an Eligible Director upon election to the Board of Directors, with an adjustment for directors who were elected to serve less than a full term. The option price per share could not be less than the current market value of the Company’s common stock on the date the option was granted. Options granted under the Amended Director Plan vested annually, as defined in the Amended Director Plan. The term of the options could not exceed ten years . Additional shares are only available for future issuance under the 2018 Plan. At March 31, 2024 , 946,054 options on the Company’s common stock were outstanding under the Company’s plans, of which 857,609 options were vested. Additionally, as of March 31, 2024 , there were 889,361 unvested shares of restricted stock, 512,131 unvested performance stock units, 85,892 unvested restricted stock units, and 162,615 vested restricted stock units under the 2018 Plan. The fair value of each restricted stock grant is determined on the date of grant by the closing market price of the Company’s common stock on the grant date. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option-pricing model. There were no options granted during the three months ended March 31, 2024 and 2023. During 2023, the Company’s Compensation Committee of the Board of Directors began granting performance stock units, or PSUs, to certain officers and employees of the Company. Granted PSUs are subject to specified performance criteria for a particular performance period. The number of PSUs that vest can range from zero to 200 % of the grant amount. In addition, dividends that accrue during the vesting period are reinvested in dividend equivalent PSUs. PSUs and the related dividend equivalent PSUs are converted into shares of common stock after vesting. Once the PSUs and dividend equivalent PSUs have vested, shares of common stock are delivered. The following table presents the activity for the stock option programs for the 2024 first quarter and the 2023 full year. Number of Exercise Weighted Outstanding at December 31, 2022 1,061,849 $ 2.14 - 9.38 $ 6.51 Granted — — — Cancelled ( 33,382 ) 4.89 - 9.38 6.80 Exercised (1) ( 68,945 ) 4.89 - 7.25 6.44 Outstanding at December 31, 2023 959,522 $ 2.14 - 9.38 $ 6.51 Granted — — — Cancelled ( 85 ) 4.89 4.89 Exercised (1) ( 13,383 ) 4.89 - 7.25 6.61 Outstanding at March 31, 2024 (2) 946,054 $ 2.14 - 9.38 $ 6.51 Options exercisable at: December 31, 2023 697,647 2.14 - 9.38 $ 6.51 March 31, 2024 (2) 857,609 $ 2.14 - 9.38 $ 6.52 (1) The aggregate intrinsic value of exercised options, which represents the difference between the price of the Company’s common stock at the exercise date and the related exercise price of the underlying options, was less than $ 0.1 million for the three months ended March 31, 2024 and was $ 0.1 million for the year ended December 31, 2023 . (2) The aggregate intrinsic value of outstanding options, which represents the difference between the price of the Company’s common stock at March 31, 2024 and the related exercise price of the underlying options, was $ 1.3 million for outstanding options and $ 1.2 million for vested options as of March 31, 2024. The remaining contractual life was 5.9 years for outstanding options and 5.8 years for vested options at March 31, 2024 . The following table presents the activity for the unvested options outstanding under the plans described above for the 2024 first quarter. Number of Exercise Price Weighted Outstanding at December 31, 2023 261,875 $ 4.89 - 7.25 $ 6.49 Granted — — — Cancelled — — — Vested ( 173,430 ) 4.89 - 7.25 6.56 Outstanding at March 31, 2024 88,445 $ 4.89 - 7.25 $ 6.37 The intrinsic value of the options vested was $ 0.4 million for the three months ended March 31, 2024. The following table presents the activity for the restricted stock programs for the 2024 first, quarter and the 2023 full year. Number of Grant Weighted Outstanding at December 31, 2022 857,288 $ 4.89 - 7.25 $ 7.27 Granted 399,793 7.67 - 9.37 8.34 Cancelled ( 12,807 ) 4.89 - 8.40 7.24 Vested (1) ( 248,898 ) 4.89 - 7.68 7.10 Outstanding at December 31, 2023 995,376 $ 4.89 - 9.37 $ 7.74 Granted 296,178 8.97 8.97 Cancelled ( 1,208 ) 6.86 - 9.37 8.13 Vested (1) ( 400,985 ) 4.89 - 8.40 7.69 Outstanding at March 31, 2024 (2) 889,361 $ 4.89 - 9.37 $ 8.18 (1) The aggregate fair value of the restricted stock vested was $ 2.7 million for the three months ended March 31, 2024 and $ 2.1 million for the year ended December 31, 2023 . (2) The aggregate fair value of the restricted stock was $ 7.0 million as of March 31, 2024 . The remaining vesting period was 2.9 years at March 31, 2024 . During the three months ended March 31, 2024 , the Company did no t grant any restricted stock units, or RSUs, and during the year ended December 31, 2023 , granted 83,158 RSUs with a vesting date of June 22, 2024 at a grant price of $ 9.14 . For the RSUs granted in 2023, unit holders had the option of deferring settlement until a future date if the recipient makes a formal election under the guidelines of IRC Section 409A. As of March 31, 2024 , there were 248,507 RSUs outstanding, including 162,615 which had previously vested. During the three months ended March 31, 2024 , the Company granted 215,687 PSUs at a grant price of $ 8.97 and during the year ended December 31, 2023 , granted 296,444 PSUs at a grant price of $ 6.08 . The PSUs have vesting conditions based upon certain levels of total pre-tax income as well as return on common equity attained over a three-year period. The PSUs cliff vest after three years based upon the performance of the Company. Dividend equivalent PSUs accumulate and convert to additional shares for the benefit of the grantee at the vesting date or are forfeited if the performance conditions are not met.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Reporting	(9) SEGMENT REPORTING The Company has five business segments, which include four lending segments and one non-operating segment, which are reflective of how Company management makes decisions about its business and operations. The four lending segments reflect the main types of lending performed at the Company, which are recreation, home improvement, commercial, and taxi medallion lending. The recreation and home improvement lending segments are operated by the Bank and loans are made to borrowers residing nationwide. The recreation lending segment is a consumer finance business that works with third-party dealers and financial service providers for the purpose of financing RVs, boats, collector automobiles, and other consumer recreational equipment, of which RVs, boats, and collector automobiles make up 54 % , 19 % , and 10 % of the segment portfolio, with no other product lines equal to or exceeding 10 %, as of March 31, 2024. The highest concentrations of recreation loans are in Texas and Florida at 16 % and 10 % of loans outstanding and with no other states at or above 10 % as of March 31, 2024. The home improvement lending segment works with contractors and financial service providers to finance residential home improvement with the largest product lines being roofs, swimming pools, and windows at 40 % , 20 % , and 13 % of total home improvement loans outstanding, and with no other product lines exceeding 10 % as of March 31, 2024. The highest concentrations of home improvement loans are in Texas and Florida both at 10 % of loans outstanding and with no other states at or above 10 % as of March 31, 2024. The commercial lending segment focuses on serving a wide variety of industries, with concentrations in manufacturing, construction, and wholesale trade making up 53 % , 14 % , and 12 % of the loans outstanding as of March 31, 2024, with no other product lines exceeding 10 % as of March 31, 2024. The commercial lending segment invests across the United States with concentrations in California, Wisconsin, and Texas each having 30 % , 11 % , and 10 % of the segment portfolio, and no other states having a concentration at or greater than 10 % as of March 31, 2024. The taxi medallion lending segment arose in connection with the financing of taxi medallions, taxis, and related assets, primarily all of which are located in the New York City metropolitan area as of March 31, 2024. The Company's corporate and other investments segment is a non-operating segment that includes items not allocated to the Company's operating segments such as investment securities, equity investments, intercompany eliminations, and other corporate elements. As part of segment reporting, capital ratios for all operating segments have been normalized as a percentage of consolidated total equity divided by total assets, with the net adjustment applied to corporate and other investments. In addition, the commercial segment primarily represents the mezzanine lending business, with certain legacy commercial loans (immaterial to total) allocated to corporate and other investments. The following table presents segment data as of and for the three months ended March 31, 2024. Three Months Ended March 31, 2024 Consumer Lending (Dollars in thousands) Recreation Home Commercial Taxi Medallion Corporate and Other Investments Consolidated Total interest income $ 43,927 $ 17,447 $ 3,645 $ 140 $ 1,911 $ 67,070 Total interest expense 9,645 5,634 1,098 28 2,748 19,153 Net interest income (loss) 34,282 11,813 2,547 112 ( 837 ) 47,917 Provision (benefit) for credit losses 17,030 898 216 ( 944 ) 1 17,201 Net interest income (loss) after loss provision 17,252 10,915 2,331 1,056 ( 838 ) 30,716 Other income 250 2 4,202 639 310 5,403 Other expenses ( 8,287 ) ( 4,114 ) ( 985 ) ( 743 ) ( 4,096 ) ( 18,225 ) Net income (loss) before taxes 9,215 6,803 5,548 952 ( 4,624 ) 17,894 Income tax (provision) benefit ( 3,274 ) ( 2,417 ) ( 1,971 ) ( 338 ) 1,642 ( 6,358 ) Net income (loss) after taxes $ 5,941 $ 4,386 $ 3,577 $ 614 $ ( 2,982 ) $ 11,536 Income attributable to the non-controlling interest 1,512 Total net income attributable to Medallion Financial Corp. $ 10,024 Balance Sheet Data Total loans $ 1,365,165 $ 752,262 $ 106,570 $ 3,560 $ 869 $ 2,228,426 Total assets 1,322,761 738,551 102,331 8,611 446,508 2,618,762 Total funds borrowed 1,083,760 605,107 83,842 7,055 365,832 2,145,596 Selected Financial Ratios Return on average assets 1.82 % 2.38 % 13.50 % 23.68 % ( 2.78 )% 1.80 % Return on average stockholders' equity * * * * * 11.65 Return on average equity 11.44 14.93 84.71 148.65 ( 17.47 ) 11.18 Interest yield 13.17 9.28 12.99 15.59 NM 11.34 Net interest margin, gross 10.28 6.28 9.08 12.47 NM 8.10 Net interest margin, net of allowance 10.75 6.45 9.43 21.57 NM 8.39 Reserve coverage 4.40 2.38 4.11 42.19 NM 3.76 Delinquency status (1) 0.48 0.18 7.80 — NM 0.74 Charge-off (recovery) ratio (2) 4.36 2.12 ( 0.07 ) ( 101.47 ) NM 3.20 (1) Loans 90 days or more past due. (2) Negative balances indicate net recoveries for the period. (NM) Not meaningful. (*) Line item is not applicable to segments. The following table presents segment data as of and for the three months ended March 31, 2023. Three Months March 31, 2023 Consumer Lending (Dollars in thousands) Recreation Home Commercial Taxi Medallion Corporate and Other Investments Consolidated Total interest income $ 37,899 $ 13,649 $ 2,701 $ 310 $ 1,284 $ 55,843 Total interest expense 5,904 3,279 809 67 2,181 12,240 Net interest income (loss) 31,995 10,370 1,892 243 ( 897 ) 43,603 Provision (benefit) for credit losses 7,751 3,081 327 ( 7,084 ) ( 37 ) 4,038 Net interest income (loss) after loss provision 24,244 7,289 1,565 7,327 ( 860 ) 39,565 Other income — 1 271 1,620 191 2,083 Other expenses ( 7,803 ) ( 3,994 ) ( 420 ) ( 2,027 ) ( 4,149 ) ( 18,393 ) Net income (loss) before taxes 16,441 3,296 1,416 6,920 ( 4,818 ) 23,255 Income tax (provision) benefit ( 4,513 ) ( 905 ) ( 389 ) ( 1,899 ) 1,324 ( 6,382 ) Net income (loss) after taxes $ 11,928 $ 2,391 $ 1,027 $ 5,021 $ ( 3,494 ) $ 16,873 Income attributable to the non-controlling interest 1,512 Total net income attributable to Medallion Financial Corp. $ 15,361 Balance Sheet Data Total loans, gross $ 1,213,380 $ 669,642 $ 95,329 $ 4,059 $ 1,770 $ 1,984,180 Total assets 1,179,965 660,846 101,392 20,335 389,132 2,351,670 Total funds borrowed 961,561 538,527 82,625 16,571 317,106 1,916,390 Selected Financial Ratios Return on average assets 4.14 % 1.52 % 4.11 % 90.53 % ( 3.79 )% 2.99 % Return on average stockholders' equity * * * * * 20.72 Return on average equity 25.63 9.37 25.39 558.90 ( 23.42 ) 18.50 Interest yield 12.87 8.54 11.53 11.78 NM 10.78 Net interest margin, gross 10.86 6.49 8.08 9.23 NM 8.42 Net interest margin, net of allowance 11.33 6.62 8.32 28.89 NM 8.71 Reserve coverage 4.12 2.19 3.71 53.07 NM 3.54 Delinquency status (1) 0.36 0.07 0.08 — NM 0.24 Charge-off ratio (2) 3.48 0.82 ( 0.16 ) 29.84 NM 2.35 (1) Loans 90 days or more past due. (2) Negative balances indicate net recoveries for the period. (NM) Not meaningful. (*) Line item is not applicable to segments.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	(10) COMMITMENTS AND CONTINGENCIES (A) EMPLOYMENT AGREEMENTS The Company has employment agreements with certain key officers, including Mr. Alvin Murstein and Mr. Andrew Murstein, for either a one-, two-, three-, four-, or five-year term. Typically, the contracts with a one- or two-year term will renew for new one- or two-year terms unless prior to the term either the Company or the executive provides notice to the other party of its intention not to extend the employment period beyond the current one or two-year term (as applicable); however, in addition to Mr. Andrew Murstein's employment agreement, as further described below, there is currently one agreement that renews after two years for additional one-year terms and one agreement with a three-year term that does not have a renewal period. In the event of a change in control, as defined, during the employment period, the agreements provide for severance compensation to the executive in an amount equal to the balance of the salary, bonus, and value of fringe benefits which the executive would be entitled to receive for the remainder of the employment period. On April 25, 2023, Mr. Alvin Murstein, the Company’s Chairman of the Board and Chief Executive Officer, notified the Company of his election not to renew the term of his employment pursuant to the First Amended and Restated Employment Agreement, dated May 29, 1998, as amended, between him and the Company. Accordingly, the term of his employment as Chief Executive Officer of the Company will expire on May 28, 2027, unless sooner terminated in accordance with the provisions thereof. In addition, on April 27, 2023, Mr. Andrew Murstein, the Company’s President and Chief Operating Officer, entered into an amendment to the First Amended and Restated Employment Agreement, dated May 29, 1998, as amended, between him and the Company. Pursuant to such amendment, effective as of May 29, 2023, (i) the expiration of his then current term of employment shall be revised to end on May 28, 2027, and (ii) on May 29, 2024, and on each May 29 thereafter, such term of employment shall automatically renew each year for a three-year term unless, prior to the end of the first year of the then-applicable three-year term, either Mr. Murstein or the Company provides at least 30 days’ advance notice to the other party of its intention not to renew the then-applicable term of employment for a new three-year term, in each case unless such employment term is otherwise terminated pursuant to the terms thereof. As of March 31, 2024 , employment agreements expire at various dates through 2027 , with future minimum payments under these agreements of approximately $ 9.9 million. (B) OTHER COMMITMENTS As of March 31, 2024 , the Company had no other commitments. Generally, any commitments would be on the same terms as loans to or investments in existing borrowers or investees, and generally have fixed expiration dates. Since some commitments would be expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. (C) SEC LITIGATION On December 29, 2021, the SEC filed a civil complaint in the U.S. District Court for the Southern District of New York against the Company and its President and Chief Operating Officer alleging certain violations of the anti-fraud, books and records, internal controls and anti-touting provisions of the federal securities laws. The litigation relates to certain issues that occurred during the period 2015 to 2017, including (i) the Company’s retention of third parties in 2015 and 2016 concerning posting information about the Company on certain financial websites and (ii) the Company’s financial reporting and disclosures concerning certain assets, including Medallion Bank, in 2016 and 2017, a period when the Company had previously reported as a business development company (BDC) under the Investment Company Act of 1940. Since April 2018, the Company does not report as a BDC, and has not worked with such third parties since 2016. The Company does not expect to change previously reported financial results. The Company filed a motion to dismiss the complaint on March 22, 2022, the SEC filed an amended complaint on April 26, 2022 and the Company filed a motion to dismiss the amended complaint on August 5, 2022. The SEC is seeking injunctive relief, disgorgement plus pre-judgment interest and civil penalties in amounts unspecified, as well as an officer and director bar against the Company’s President and Chief Operating Officer. The Company and its President and Chief Operating Officer intend to defend themselves vigorously and believe that the SEC will not prevail on its claims. Nevertheless, depending on the outcome of the litigation, the Company could incur a loss and other penalties that could be material to the Company, its results of operations and/or financial condition, as well as a bar against its President and Chief Operating Officer. In addition, the Company has and expects to further incur significant legal fees and expenses in defending against such charges by the SEC and the Company may be subject to shareholder litigation relating to these SEC matters. (D) OTHER LITIGATION AND REGULATORY MATTERS The Company and its subsidiaries are subject to inquiries from certain regulators and are currently involved in various legal proceedings incident to the normal course of business, including collection matters with respect to certain loans. The Company intends to vigorously defend any outstanding claims and pursue its legal rights. In the opinion of management, based on the advice of legal counsel, except for the pending SEC litigation, as described above, there is no proceeding pending, or to the knowledge of management threatened, which in the event of an adverse decision could result in a material adverse impact on the financial condition or results of operations of the Company.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2024
Related Party Transactions [Abstract]
Related Party Transactions	(11) RELATED PARTY TRANSACTIONS Certain directors, officers, and stockholders of the Company are also directors and officers of its main consolidated subsidiaries, MFC, Medallion Capital, FSVC, and the Bank, as well as other subsidiaries. Officer salaries are set by the Board of Directors of the Company. Jeffrey Rudnick, the son of one of the Company’s directors, serves as the Company’s Senior Vice President at a salary of $ 260,988 per year, an increase from $ 250,950 per year in 2023 . Mr. Rudnick received an annual cash bonus of $ 95,000 and $ 85,000 as well as an equity bonus in the amount of $ 52,000 and $ 50,000 , during the three months ended March 31, 2024 and 2023 .

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2024
Investments, All Other Investments [Abstract]
Fair Value of Financial Instruments	(12) FAIR VALUE OF FINANCIAL INSTRUMENTS FASB ASC Topic 825, “Financial Instruments,” requires disclosure of fair value information about certain financial instruments, whether assets, liabilities, or off-balance-sheet commitments, if practicable. The following methods and assumptions were used to estimate the fair value of each class of financial instrument. Fair value estimates that were derived from broker quotes cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instrument. (a) Cash and cash equivalents – Book value equals fair value. (b) Equity securities – The Company’s equity securities are recorded at cost less impairment plus or minus observable price changes. (c) Investment securities – The Company’s investments are recorded at the estimated fair value of such investments. (d) Loans receivable – The Company’s loans are recorded at book value which approximates fair value. (e) Floating rate borrowings – Due to the short-term nature of these instruments, the carrying amount approximates fair value. (f) Commitments to extend credit – The fair value of commitments to extend credit is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and present creditworthiness of the counter parties. For fixed rate loan commitments, fair value also includes a consideration of the difference between the current levels of interest rates and the committed rates. At March 31, 2024 and December 31, 2023, the estimated fair value of these off-balance-sheet instruments was not material. (g) Fixed rate borrowings – The fair value of the debentures payable to the SBA is estimated based on current market interest rates for similar debt. March 31, 2024 December 31, 2023 (Dollars in thousands) Carrying Fair Carrying Fair Financial assets Cash, cash equivalents, and federal funds sold (1) $ 169,125 $ 169,125 $ 149,845 $ 149,845 Equity investments 16,374 16,374 11,430 11,430 Investment securities 53,038 53,038 54,282 54,282 Loans receivable 2,144,599 2,144,599 2,131,651 2,131,651 Accrued interest receivable (2) 12,673 12,673 13,538 13,538 Equity securities (3) 1,730 1,730 1,748 1,748 Financial liabilities Funds borrowed 2,145,596 2,145,596 2,118,689 2,118,689 Accrued interest payable (2) 6,077 6,077 6,822 6,822 (1) Categorized as level 1 within the fair value hierarchy, excluding $ 1.3 million in interest bearing deposits categorized as level 2 as of March 31, 2024 and $ 1.3 million as of December 31, 2023 . See Note 13. (2) Categorized as level 3 within the fair value hierarchy. See Note 13. (3) Included within other assets on the balance sheet.

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities	(13) FAIR VALUE OF ASSETS AND LIABILITIES The Company follows the provisions of FASB ASC 820, which defines fair value, establishes a framework for measuring fair value, establishes a fair value hierarchy based on the quality of inputs used to measure fair value, and enhances disclosure requirements for fair value measurements. In accordance with FASB ASC 820, the Company has categorized its assets and liabilities measured at fair value, based on the priority of the inputs to the valuation technique, into a three-level fair value hierarchy. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (level 1) and the lowest priority to unobservable inputs (level 3). The Company's assessment and classification of an investment within a level can change over time based upon maturity or liquidity of the investment and would be reflected at the beginning of the quarter in which the change occurred. As required by FASB ASC 820, when the inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement in its entirety. For example, a level 3 fair value measurement may include inputs that are observable (levels 1 and 2) and unobservable (level 3). Therefore, gains and losses for such assets and liabilities categorized within the level 3 table below may include changes in fair value that are attributable to both observable inputs (levels 1 and 2) and unobservable inputs (level 3). Assets and liabilities measured at fair value, recorded on the consolidated balance sheets, are categorized based on the inputs to the valuation techniques as follows: Level 1. Assets and liabilities whose values are based on unadjusted quoted prices for identical assets or liabilities in an active market that the Company has the ability to access (examples include active exchange-traded equity securities, exchange-traded derivatives, most U.S. Government and agency securities, and certain other sovereign government obligations). Level 2. Assets and liabilities whose values are based on quoted prices in markets that are not active or model inputs that are observable either directly or indirectly for substantially the full term of the asset or liability. Level 2 inputs include the following: a) Quoted prices for similar assets or liabilities in active markets (for example, restricted stock); b) Quoted price for identical or similar assets or liabilities in non-active markets (for example, corporate and municipal bonds, which trade infrequently); c) Pricing models whose inputs are observable for substantially the full term of the asset or liability (examples include most over-the-counter derivatives, including interest rate and currency swaps); and d) Pricing models whose inputs are derived principally from or corroborated by observable market data through correlation or other means for substantially the full term of the asset or liability (examples include certain residential and commercial mortgage-related assets, including loans, securities, and derivatives). Level 3. Assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement. These inputs reflect management’s own assumptions about the assumptions a market participant would use in pricing the assets or liability (examples include certain private equity investments, and certain residential and commercial mortgage-related assets, including loans, securities, and derivatives). A review of fair value hierarchy classification is conducted on a quarterly basis. Changes in the observability of valuation inputs may result in a reclassification for certain assets or liabilities. Reclassifications impacting level 3 of the fair value hierarchy are reported as transfers in/out of the level 3 category as of the beginning of the quarter in which the reclassifications occur. Equity investments were recorded at cost less impairment plus or minus observable price changes. Commencing in 2020, the Company elected to measure equity investments at fair value on a non-recurring basis. The following tables present the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of March 31, 2024 and December 31, 2023. March 31, 2024 (Dollars in thousands) Level 1 Level 2 Level 3 Total Assets Interest-bearing deposits $ — $ 1,250 $ — $ 1,250 Investment securities — 53,038 — 53,038 Equity securities 1,730 — — 1,730 Total (1) $ 1,730 $ 54,288 $ — $ 56,018 (1) Total unrealized losses of $ 0.2 million , net of tax, was included in other comprehensive income for the three months ended March 31, 2024 related to these assets. December 31, 2023 (Dollars in thousands) Level 1 Level 2 Level 3 Total Assets Interest-bearing deposits $ — $ 1,250 $ — $ 1,250 Investment securities — 54,282 — 54,282 Equity securities 1,748 — — 1,748 Total (1) $ 1,748 $ 55,532 $ — $ 57,280 (1) Total unrealized losses of $ 0.3 million, net of tax, was included in other comprehensive loss for the year ended December 31, 2023 related to these assets . The following tables present the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a non-recurring basis as of March 31, 2024 and December 31, 2023. March 31, 2024 (Dollars in thousands) Level 1 Level 2 Level 3 Total Assets Equity investments $ — $ — $ 16,374 $ 16,374 Impaired loans — — 21,881 21,881 Loan collateral in process of foreclosure — — 10,198 10,198 Total $ — $ — $ 48,453 $ 48,453 December 31, 2023 (Dollars in thousands) Level 1 Level 2 Level 3 Total Assets Equity investments $ — $ — $ 11,430 $ 11,430 Impaired loans — — 25,974 25,974 Loan collateral in process of foreclosure — — 11,772 11,772 Total $ — $ — $ 49,176 $ 49,176 Significant Unobservable Inputs ASC Topic 820 requires disclosure of quantitative information about the significant unobservable inputs used in the valuation of assets and liabilities classified as level 3 within the fair value hierarchy. The tables below are not intended to be all-inclusive, but rather to provide information on significant unobservable inputs and valuation techniques used by the Company. The valuation techniques and significant unobservable inputs used in non-recurring level 3 fair value measurements of assets and liabilities as of March 31, 2024 and December 31, 2023. (Dollars in thousands except per share amounts) Fair Value Valuation Techniques Unobservable Inputs Range Equity investments $ 11,290 Investee financial analysis Financial condition and operating performance of the borrower (1) N/A Collateral support N/A 5,084 Precedent market transaction Sale price $ 5,084 273 Precedent market transaction Offering price $ 8.73 / share Impaired loans 21,881 Market approach Historical and actual loss experience 0.00 % - 43.51 % Transfer prices (2) $ 0.0 - 79.5 Collateral value N/A Loan collateral in process of foreclosure 10,198 Market approach Transfer prices (2) $ 0.0 - 79.5 Collateral value (3) $ 1.8 - $ 43.2 (1) Includes projections based on revenue, EBITDA, leverage, and liquidation amounts. These assumptions are based on a variety of factors, including economic conditions, industry, and market developments, market valuations of comparable companies, and company-specific developments, including exit strategies and realization opportunities. (2) Represents amount net of liquidation costs. (3) Relates to the recreation loan portfolio. (Dollars in thousands except per share amounts) Fair Value Valuation Techniques Unobservable Inputs Range Equity investments $ 11,157 Investee financial analysis Financial condition and operating performance of the borrower (1) N/A Collateral support N/A 273 Precedent market transaction Offering price $ 8.73 / share Impaired loans 25,974 Market approach Historical and actual loss experience 0.00 % - 28.48 % Transfer prices (2) $ 0.0 - $ 79.5 Collateral value N/A Loan collateral in process of foreclosure 11,772 Market approach Transfer prices (2) $ 0.0 - $ 79.5 Collateral value (3) $ 2.3 - $ 45.0 (1) Includes projections based on revenue, EBITDA, leverage, and liquidation amounts. These assumptions are based on a variety of factors, including economic conditions, industry, and market developments, market valuations of comparable companies, and company-specific developments, including exit strategies and realization opportunities. (2) Represents amount net of liquidation costs. (3) Relates to the recreation loan portfolio.

Medallion Bank Preferred Stock

Medallion Bank Preferred Stock (Non-controlling Interest)	3 Months Ended
	Mar. 31, 2024
Medallion Bank Preferred Stock (Non-controlling Interest)	(14) MEDALLION BANK PREFERRED STOCK (Non-controlling interest) On December 17, 2019, the Bank closed an initial public offering of 1,840,000 shares of its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F, with a $ 46.0 million aggregate liquidation amount, yielding net proceeds of $ 42.5 million, which were recorded in the Bank’s shareholders’ equity. Dividends are payable quarterly from the date of issuance to, but excluding April 1, 2025, at a rate of 8 % per annum, and from and including April 1, 2025, at a floating rate equal to a benchmark rate (which is expected to be the three month Secured Overnight Financing Rate, or SOFR ) plus a spread of 6.46 % per annum. On July 21, 2011, the Bank issued, and the U.S. Treasury purchased , 26,303 shares of Senior Non-Cumulative Perpetual Preferred Stock, Series E for an aggregate purchase price of $ 26.3 million under the Small Business Lending Fund Program, or SBLF, with a liquidation amount of $ 1,000 per share. The SBLF is a voluntary program intended to encourage small business lending by providing capital to qualified smaller banks at favorable rates. The Bank pays a dividend rate of 9 % on the Series E.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	(15) SUBSEQUENT EVENTS The Company has evaluated the effects of events that have occurred subsequent to March 31, 2024 through the date of financial statement issuance for potential recognition or disclosure. As of such date, there were no subsequent events that required disclosure.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with accounting principles generally accepted in the U.S., or GAAP, requires management to make estimates that affect the amounts reported in the consolidated financial statements and the accompanying notes. Accounting estimates and assumptions are those that management considers to be the most critical to an understanding of the consolidated financial statements because they inherently involve significant judgments and uncertainties. All of these estimates reflect management’s best judgment about current economic and market conditions and their effects based on information available as of the date of these consolidated financial statements. If such conditions change, it is reasonably possible that the judgments and estimates could change, which may result in future impairments of loans and loan collateral in process of foreclosure, goodwill and intangible assets, and investments, among other effects.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and all of its wholly-owned and controlled subsidiaries. All significant intercompany transactions, balances, and profits (losses) have been eliminated in consolidation. The consolidated financial statements have been prepared in accordance with GAAP. The Company consolidates all entities it controls through a majority voting interest, a controlling interest through other contractual rights, or as being identified as the primary beneficiary of VIEs. The primary beneficiary is the party who has both (1) the power to direct the activities of a VIE that most significantly impact the entity’s economic performance, and (2) an obligation to absorb losses of the entity or a right to receive benefits from the entity that could potentially be significant to the entity. For consolidated entities that are less than wholly owned, the third-party's holding is recorded as non-controlling interest. The Company’s investment in the Bank is consolidated for financial statement purposes. In the notes to the consolidated financial statements included in its Annual Report on Form 10-K, the Company presents its investment in the Bank.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid instruments with an original purchased maturity of three months or less to be cash equivalents. Cash balances are generally held in accounts at large national or regional banking organizations in amounts that exceed the federally insured limits. As of March 31, 2024, cash includes $ 1.3 million of interest-bearing funds deposited in other banks with original terms of 5 to 6 years.
Fair Value of Assets and Liabilities	Fair Value of Assets and Liabilities The Company follows the Financial Accounting Standards Board, or FASB, FASB Accounting Standards Codification Topic 820, Fair Value Measurements and Disclosures, or FASB ASC 820, which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. FASB ASC 820 defines fair value as an exit price (i.e., a price that would be received to sell, as opposed to acquire, an asset or transfer a liability), and emphasizes that fair value is a market-based measurement. It establishes a fair value hierarchy that distinguishes between assumptions developed based on market data obtained from independent external sources and the reporting entity’s own assumptions. Further, it specifies that fair value measurement should consider adjustment for risk, such as the risk inherent in the valuation technique or its inputs. See also Notes 12 and 13 to the consolidated financial statements.
Equity Investments	Equity Investments The Company follows FASB ASC Topic 321, Investments – Equity Securities, or ASC 321, which requires all applicable investments in equity securities with a readily determinable fair value to be valued as such, and those without a readily determinable fair value, are measured at cost, less any impairment plus or minus any observable price changes. Equity investments of $ 16.4 million and $ 11.4 million at March 31, 2024 and December 31, 2023, comprised mainly of nonmarketable stock and stock warrants, are recorded at cost less any impairment plus or minus observable price changes. Substantially all of these equity investments are held by Medallion Capital, our SBIC subsidiary, in connection with its mezzanine lending business. As of March 31, 2024 , cumulative appreciation of $ 4.7 million and cumulative impairment of $ 4.0 million had been recorded with respect to these investments. During 2021, the Company purchased $ 2.0 million of equity securities with a readily determinable fair value. As a result, all unrealized gains and losses are included in gain (loss) on equity investments. As of both March 31, 2024 and December 31, 2023, the fair value of these securities were $ 1.7 million and are included in other assets on the consolidated balance sheet. The following table presents the unrealized portion related to the equity securities held. Three Months Ended March 31, (Dollars in thousands) 2024 2023 Net gains (losses) recognized during the period on equity securities $ ( 19 ) $ 28 Less: Net gains (losses) recognized during the period on equity — — Unrealized gains (losses) recognized during the reporting period on $ ( 19 ) $ 28
Investment Securities	Investment Securities The Company follows FASB ASC Topic 320, Investments – Debt Securities, or ASC 320, which requires that all applicable investments in debt securities be classified as trading securities, available-for-sale securities, or held-to-maturity securities. Investment securities are purchased from time-to-time in the open market at prices that are greater or lesser than the par value of the investment. The resulting premium or discount is deferred and recognized on a level yield basis as an adjustment to the yield of the related investment. The net premium on investment securities totaled $ 0.1 million at both March 31, 2024 and December 31, 2023 , and less than $ 0.1 million was amortized to interest income for the three months ended March 31, 2024 and 2023. ASC 320 further requires that held-to-maturity securities be re ported at amortized cost and available-for-sale securities be reported at fair value, with unrealized gains and losses excluded from earnings at the date of the consolidated financial statements, and reported in accumulated other comprehensive income (loss) as a separate component of stockholders’ equity, net of the effect of income taxes, until they are sold. At the time of sale, any gains or losses, calculated by the specific identification method, will be recognized as a component of operating results and any amounts previously included in stockholders’ equity, which were recorded net of the income tax effect, will be reversed. In accordance with ASC 326, we do not maintain an allowance for credit losses for accrued interest receivable.
Loans	Loans The Company’s loans are currently reported at the principal amount outstanding, inclusive of deferred loan acquisition costs, which primarily includes deferred fees paid to loan originators, and which are amortized to interest income over the life of the loan. Loan origination fees and certain direct origination costs are deferred and recognized as an adjustment to the yield of the related loans. At March 31, 2024 and December 31, 2023, net loan origination costs were $ 40.7 million and $ 40.0 million. Net amortization to income was $ 2.0 million for the three months ended March 31, 2024 and was $ 1.9 million for the three months ended March 31, 2023. Interest income is recorded on the accrual basis. Taxi medallion and commercial loans are placed on nonaccrual status, and all uncollected accrued interest is reversed, when there is doubt as to the collectability of interest or principal, or if loans are 90 days or more past due, unless management has determined that they are both well-secured and in the process of collection. Interest income on nonaccrual loans is generally recognized when cash is received unless a determination has been made to apply all cash receipts to principal. The consumer loan portfolio is typified by a larger number of smaller dollar loans that have similar characteristics. A loan is considered to be impaired, or nonperforming, when based on current information and events, it is unlikely the Company will be able to collect all amounts due according to the contractual terms of the original loan agreement. Management considers loans that are in bankruptcy status, but have not been charged-off, to be impaired. Consumer loans are placed on nonaccrual when they become 90 days past due, or earlier if they enter bankruptcy, and are charged-off in their entirety when deemed uncollectible, or when they become 120 days past due, whichever occurs first, at which time appropriate recovery efforts against both the borrower and the underlying collateral are initiated. For the recreation loan portfolio, the process to repossess the collateral is started at 60 days past due. If the collateral is not located and the account reaches 120 days delinquent, the account is charged-off. If the collateral is repossessed, a loss is recorded by writing the collateral down to its fair value less selling costs, and the collateral is sent to auction. When the collateral is sold, the net auction proceeds are applied to the account, and any remaining balance is written off. Proceeds collected on charged-off accounts are recorded as recoveries. Total loans 90 days or more past due were $ 16.1 million at March 31, 2024, or 0.74 % of the total loan portfolio, compared to $ 16.8 million , or 0.77 % , at December 31, 2023 . Beginning in the first quarter of 2023, the Company began charging off recreation loans at the point when borrowers filed for bankruptcy. This change resulted in approximately $ 2.5 million of loans being charged off in the first quarter of 2023. The Company may modify the contractual cash flow of loans in situations where borrowers are experiencing financial difficulties. The Company strives to identify borrowers in financial difficulty early and work with them to modify their loans to more affordable terms before they reach nonaccrual status. These modified terms may include interest rate reductions, principal forgiveness, term extensions, payment forbearance and other actions intended to minimize the economic loss to the Company and to avoid foreclosure or repossession of the collateral. For modifications where the Company forgives principal, the entire amount of such principal forgiveness is immediately charged off. Modified loans are considered impaired loans. Loan collateral in process of foreclosure primarily includes taxi medallion loans that have reached 120 days past due and have been charged down to their net realizable value, in add ition to consumer repossessed collateral in the process of being sold. For New York City taxi medallion loans in the process of foreclosure, the Company continued to utilize a net value of $ 79,500 when assessing net realizable value for these taxi medallion loans, despite fluctuating current transfer prices which may exceed that level from time to time . The "loan collateral in the process of foreclosure" designation reflects that the collection activities on these loans have transitioned from working with the borrower to the liquidation of the collateral securing the loans. The Company accounts for its sales of loans in accordance with FASB Accounting Standards Codification Topic 860, Transfers and Servicing, or FASB ASC 860, which provides accounting and reporting standards for transfers and servicing of financial assets and extinguishments of liabilities. In accordance with FASB ASC 860, the Company had elected the fair value measurement method for its servicing assets and liabilities. The principal portion of loans serviced for others by the Company and its affiliates was $ 14.0 million at March 31, 2024 and December 31, 2023. The Company has evaluated the servicing aspect of its business in accordance with FASB ASC 860 and determined that no material servicing asset or liability existed as of March 31, 2024 and December 31, 2023 .
Allowance for Credit Losses	Allowance for Credit Losses On January 1, 2023, the Company adopted Accounting Standards Update 2016-13, "Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments", or ASC 326, which replaced the incurred loss methodology that delayed recognition until it was probable a loss had been incurred with a lifetime expected loss methodology using "reasonable and supportable" expectations about the future, referred to as the current expected credit loss, or CECL, methodology. For consumer loans, the Company uses historical delinquent loan performance and actual loss rates modified by quantitative adjustments based on macroeconomic factors over a twelve-month reasonable and supportable forecast period. For commercial loans, the Company assesses the historical impact that macroeconomic indicators have had on the loan portfolio, to determine an approximate allowance for credit loss. Unlike consumer loans, where loans may have similar performing characteristics, each commercial loan is unique. The Company evaluates each commercial loan for specific impairment with additional allowance for credit losses recognized as necessary. For taxi medallion loans, the Company maintains specific reserves adjusting the carrying amount of loans down to net collateral value. The allowance is evaluated on a quarterly basis by management based on the collectability of the loans in light of historical experience, the nature and size of the loan portfolio, adverse situations that may affect the borrowers' ability to repay, estimated value of any underlying collateral, prevailing economic conditions, and excess concentration risks. This evaluation is inherently subjective, as it requires estimates, including those based on changes in economic conditions, that are susceptible to significant revision as more information becomes available. Credit losses are deducted from the allowance, and subsequent recoveries are added back to the allowance. The Company adopted ASC 326 using the modified retrospective method for all financial assets measured at amortized cost and off-balance-sheet credit exposures. Results for reporting periods beginning after December 15, 2022 are presented under ASC 326. The transition to the CECL methodology on January 1, 2023 resulted in an increase of $ 13.7 million to the Company's allowance for credit losses on loans, or ACL, and a net-of-tax cumulative-effect adjustment of $ 9.9 million to the beginning balance of retained earnings. The CECL methodology transition effects on the allowance for credit losses are shown in the following table: (Dollars in thousands) December 31, 2022 Effect of ASC 326 January 1, 2023 Assets: Loans: Recreation $ 41,966 $ 10,037 $ 52,003 Home improvement 11,340 1,518 12,858 Commercial 1,049 2,157 3,206 Taxi medallion 9,490 — 9,490 Strategic partnership — — — Allowance for credit losses on loans $ 63,845 $ 13,712 $ 77,557 Prior to January 1, 2023, the Company used historical delinquency and actual loss rates with a three-year look-back period for taxi medallion loans and a one-year look-back period for recreation and home improvement loans and used historical loss experience and other projections for commercial loans. The allowance was evaluated on a quarterly basis by management based on the collectability of the loans in light of historical experience, the nature and size of the loan portfolio, adverse situations that may affect the borrowers' ability to repay, estimated value of any underlying collateral, prevailing economic conditions, and excess concentration risks. This evaluation was inherently subjective, as it required estimates that were susceptible to significant revision as more information became available.
Goodwill and Intangible Assets	Goodwill and Intangible Assets The Company’s goodwill and intangible assets arose as a result of the excess of fair value over book value for several of the Company’s previously unconsolidated portfolio investment companies as of April 2, 2018. This fair value was brought forward under the Company’s new reporting and was subject to a purchase price accounting allocation process conducted by an independent third- party expert to arrive at the current categories and amounts. Goodwill is not amortized, but is subject to quarterly review by management to determine whether additional impairment testing is needed, and such testing is performed at least on an annual basis. Intangible assets are amortized over their useful life of approximately 20 years. As of March 31, 2024 and December 31, 2023, the Company had goodwill of $ 150.8 million , all of which related to the Bank. As of March 31, 2024 and December 31, 2023, the Company had intangible assets of $ 20.2 million and $ 20.6 million . Amortization expense on the intangible assets for the three months ended March 31, 2024 and 2023 was $ 0.4 million. Management performed a step 0 analysis in assessing the goodwill and intangibles for impairment at December 31, 2023 , concluding that there was no impairment of these assets. The following table details the intangible assets as of the dates presented: (Dollars in thousands) March 31, 2024 December 31, 2023 Brand-related intellectual property $ 15,400 $ 15,675 Home improvement contractor relationships 4,830 4,916 Total intangible assets $ 20,230 $ 20,591
Fixed Assets	Fixed Assets Fixed assets are carried at cost less accumulated depreciation and amortization, and are depreciated on a straight-line basis over their estimated useful lives of 3 to 10 years . Leasehold improvements are amortized on a straight-line basis over the shorter of the lease term or the estimated economic useful life of the improvement. Depreciation and amortization expense was $ 0.1 million three months ended March 31, 2024 and 2023 .
Deferred Costs	Deferred Costs Deferred financing costs represent costs associated with obtaining the Company’s borrowing facilities, and are amortized on a straight-line basis over the lives of the related financing agreements and life of the respective pool. Amortization expense was $ 0.8 million for the three months ended March 31, 2024 and 2023. In addition, the Company capitalizes certain costs for transactions in the process of completion (other than business combinations), including those for potential investments, and the sourcing of other financing alternatives. Upon completion or termination of the transaction, any accumulated amounts will be amortized against income over an appropriate period, or written off. The amount on the Company’s balance sheet for all of these purposes were $ 8.5 million as of both March 31, 2024 and December 31, 2023 .
Income Taxes	Income Taxes Income taxes are accounted for using the asset and liability approach in accordance with FASB ASC Topic 740, Income Taxes, or ASC 740. Deferred tax assets and liabilities reflect the impact of temporary differences between the carrying amount of assets and liabilities and their tax basis and are stated at tax rates expected to be in effect when taxes are actually paid or recovered. Deferred tax assets are also recorded for net operating losses, capital losses and any tax credit carryforwards. A valuation allowance is provided against a deferred tax asset when it is more likely than not that some or all of the deferred tax assets will not be realized. All available evidence, both positive and negative, is considered to determine whether a valuation allowance for deferred tax assets is needed. Items considered in determining the Company’s valuation allowance include expectations of future earnings of the appropriate tax character, recent historical financial results, tax planning strategies, the length of statutory carryforward periods and the expected timing of the reversal of temporary differences. The Company recognizes tax benefits of uncertain tax positions only when the position is more likely than not to be sustained assuming examination by tax authorities. The Company records income tax related interest and penalties, if applicable, within current income tax expense.
Earnings Per Share (EPS)	Earnings Per Share (EPS) Basic earnings per share are computed by dividing net income resulting from operations available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflect the potential dilution that could occur if option contracts to issue common stock were exercised, or if restricted stock vests, and has been computed after considering the weighted average dilutive effect of the Company’s stock options and restricted stock. The Company uses the treasury stock method to calculate diluted EPS, which is a method of recognizing the use of proceeds that could be obtained upon exercise of options and warrants, including unvested compensation expense related to the shares, in computing diluted EPS. It assumes that any proceeds would be used to purchase common stock at the average market price during the period. The table below shows the calculation of basic and diluted EPS. Three Months Ended March 31, (Dollars in thousands, except share and per share data) 2024 2023 Net income attributable to common stockholders $ 10,024 $ 15,361 Weighted average common shares outstanding applicable to basic EPS 22,641,385 22,342,911 Effect of restricted stock grants 610,333 483,429 Effect of dilutive stock options 254,793 149,117 Effect of performance stock unit grants 258,534 — Adjusted weighted average common shares outstanding applicable to diluted EPS 23,765,045 22,975,457 Basic net income per share $ 0.44 $ 0.69 Diluted net income per share 0.42 0.67 Potentially dilutive common shares excluded from the above calculations aggregated 9,000 shares as of March 31, 2024 and 2023 .
Stock Compensation	Stock Compensation The Company follows FASB ASC Topic 718, or ASC 718, Compensation – Stock Compensation, for its equity incentive, stock option, and restricted stock plans, and accordingly, the Company recognizes the expense of these grants as required. Stock-based employee compensation costs pertaining to stock options are reflected in net income resulting from operations for any new grants using the fair values established by usage of the Black-Scholes option pricing model, expensed over the vesting period of the underlying option. Stock-based employee compensation costs pertaining to restricted stock are reflected in net income resulting from operations for any new grants using the grant date fair value of the shares granted, expensed over the vesting period of the underlying stock. During the three months ended March 31, 2024 and 2023 , the Company issued 296,178 and 304,749 restricted shares of stock-based compensation awards, 215,687 and 0 performance stock units, and no restricted stock units or shares of other stock-based compensation awards. The Company recognized $ 1.5 million , or $ 0.06 per share, for the three months ended March 31, 2024 , and $ 1.0 million, or $ 0.05 per diluted common share, for the three months ended March 31, 2023, of non-cash stock-based compensation expense related to the grants. As of March 31, 2024 , the total remaining unrecognized compensation cost related to unvested stock options and restricted stock was $ 9.3 million, which is expected to be recognized over the next 12 quarters.
Regulatory Capital	Regulatory Capital The Bank is subject to various regulatory capital requirements administered by the FDIC and the Utah Department of Financial Institutions. Failure to meet minimum capital requirements can initiate certain mandatory and possible additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Bank’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Bank must meet specific capital guidelines that involve quantitative measures of the Bank’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Bank’s capital amounts and classifications are also subject to qualitative judgments by the bank regulators about components, risk weightings, and other factors. FDIC-insured banks, including the Bank, are subject to certain federal laws, which impose various legal limitations on the extent to which banks may finance or otherwise supply funds to certain of their affiliates. In particular, the Bank is subject to certain restrictions on any extensions of credit to, or other covered transactions with, such as certain purchases of assets, the Company or its affiliates. Quantitative measures established by regulation to ensure capital adequacy require the Bank to maintain minimum amounts and ratios as defined in the regulations (set forth in the table belo w). Additionally, as conditions of granting the Bank’s application for federal deposit insurance, the FDIC ordered that the Tier 1 leverage capital to total assets ratio, as defined, be not less than 15 %, a level which could affect the Bank's ability to pay dividends to the Company, and that an adequate allowance for credit losses be maintained. As of March 31, 2024, the Bank’s Tier 1 leverage ratio was 16.4 % . The Bank’s actual capital amounts and ratios, and the regulatory minimum ratios are presented in the following table. Regulatory (Dollars in thousands) Minimum Well-Capitalized March 31, 2024 December 31, 2023 Common equity tier 1 capital $ 298,662 $ 293,774 Tier 1 capital 367,450 362,561 Total capital 395,297 390,153 Average assets 2,236,357 2,232,816 Risk-weighted assets 2,176,939 2,155,641 Leverage ratio (1) 4.0 % 5.0 % 16.4 % 16.2 % Common equity tier 1 capital ratio (2) 7.0 6.5 13.7 13.6 Tier 1 capital ratio (3) 8.5 8.0 16.9 16.8 Total capital ratio (3) 10.5 10.0 18.2 18.1 (1) Calculated by dividing Tier 1 capital by average assets. (2) Calculated by subtracting preferred stock or non-controlling interest from Tier 1 capital and dividing by risk-weighted assets. (3) Calculated by dividing Tier 1 or total capital by risk-weighted assets. In the table above, the minimum risk-based ratios as of March 31, 2024 and December 31, 2023 reflect the capital conservation buffer of 2.5 %. The minimum regulatory requirements, inclusive of the capital conservation buffer, were the binding requirements for the risk-based requirements, and the “well-capitalized” requirements were the binding requirements for Tier 1 leverage capital as of both March 31, 2024 and December 31, 2023 .
Recently Issued and Adopted Accounting Standards	Recently Issued and Adopted Accounting Standards In March 2023, the FASB issued ASU 2023-02, Investments - Equity Method and Joint Ventures, or Topic 323: Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method. The main objective of this new standard is to allow reporting entities to consistently account for equity investments made primarily for the purpose of receiving income tax credits and other income tax benefits. The Company is assessing the impact of the update on the accompanying financial statements. In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements. The amendments in this update seek to clarify or improve disclosure and presentation requirements. The Company is assessing the impact of the update on the accompanying financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting, or Topic 280: Improvements to Reportable Segment Disclosures. The main objective of this update is to provide transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The amendments in this update are effective for fiscal years beginning after December 15, 2023. The Company is assessing the impact of the update on the accompanying financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes, or Topic 740: Improvements to Income Tax Disclosures. The main objective of this update is to improve financial reporting disclosure of incremental segment information on an annual and interim basis for all public entities to enable investors to develop more decision-useful financial analyses. The amendments in this update are effective for the annual periods beginning after December 15, 2024. The Company is assessing the impact of the update on the accompanying financial statements.
Reclassifications	Reclassifications Certain reclassifications have been made to prior year balances to conform with the current year presentation. These reclassifications have no effect on the previously reported results of operations.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Summary of Unrealized Portion Related to Equity Securities	The following table presents the unrealized portion related to the equity securities held. Three Months Ended March 31, (Dollars in thousands) 2024 2023 Net gains (losses) recognized during the period on equity securities $ ( 19 ) $ 28 Less: Net gains (losses) recognized during the period on equity — — Unrealized gains (losses) recognized during the reporting period on $ ( 19 ) $ 28
Summary of Finalized Adoption Related to Allowance for Credit Losses on Loans	The CECL methodology transition effects on the allowance for credit losses are shown in the following table: (Dollars in thousands) December 31, 2022 Effect of ASC 326 January 1, 2023 Assets: Loans: Recreation $ 41,966 $ 10,037 $ 52,003 Home improvement 11,340 1,518 12,858 Commercial 1,049 2,157 3,206 Taxi medallion 9,490 — 9,490 Strategic partnership — — — Allowance for credit losses on loans $ 63,845 $ 13,712 $ 77,557
Schedule of Intangible Assets	The following table details the intangible assets as of the dates presented: (Dollars in thousands) March 31, 2024 December 31, 2023 Brand-related intellectual property $ 15,400 $ 15,675 Home improvement contractor relationships 4,830 4,916 Total intangible assets $ 20,230 $ 20,591
Summary of the Calculation of Basic and Diluted EPS	The table below shows the calculation of basic and diluted EPS. Three Months Ended March 31, (Dollars in thousands, except share and per share data) 2024 2023 Net income attributable to common stockholders $ 10,024 $ 15,361 Weighted average common shares outstanding applicable to basic EPS 22,641,385 22,342,911 Effect of restricted stock grants 610,333 483,429 Effect of dilutive stock options 254,793 149,117 Effect of performance stock unit grants 258,534 — Adjusted weighted average common shares outstanding applicable to diluted EPS 23,765,045 22,975,457 Basic net income per share $ 0.44 $ 0.69 Diluted net income per share 0.42 0.67
Summary of Bank's Actual Capital Amounts and Ratios, and the Regulatory Minimum Ratios	The Bank’s actual capital amounts and ratios, and the regulatory minimum ratios are presented in the following table. Regulatory (Dollars in thousands) Minimum Well-Capitalized March 31, 2024 December 31, 2023 Common equity tier 1 capital $ 298,662 $ 293,774 Tier 1 capital 367,450 362,561 Total capital 395,297 390,153 Average assets 2,236,357 2,232,816 Risk-weighted assets 2,176,939 2,155,641 Leverage ratio (1) 4.0 % 5.0 % 16.4 % 16.2 % Common equity tier 1 capital ratio (2) 7.0 6.5 13.7 13.6 Tier 1 capital ratio (3) 8.5 8.0 16.9 16.8 Total capital ratio (3) 10.5 10.0 18.2 18.1 (1) Calculated by dividing Tier 1 capital by average assets. (2) Calculated by subtracting preferred stock or non-controlling interest from Tier 1 capital and dividing by risk-weighted assets. (3) Calculated by dividing Tier 1 or total capital by risk-weighted assets.

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2024
Schedule of Investments [Abstract]
Summary of Fixed Maturity Securities Available for Sale	maturity securities available for sale as of March 31, 2024 and December 31, 2023: March 31, 2024 (Dollars in thousands) Amortized Gross Gross Fair Mortgage-backed securities, principally obligations of U.S. federal agencies $ 43,804 $ — $ ( 5,074 ) $ 38,730 State and municipalities 13,550 13 ( 1,415 ) 12,148 Agency bonds 2,185 — ( 25 ) 2,160 Total $ 59,539 $ 13 $ ( 6,514 ) $ 53,038 December 31, 2023 (Dollars in thousands) Amortized Gross Gross Fair Mortgage-backed securities, principally obligations of U.S. federal agencies $ 44,653 $ — $ ( 4,791 ) $ 39,862 State and municipalities 13,733 21 ( 1,501 ) 12,253 Agency bonds 2,187 — ( 20 ) 2,167 Total $ 60,573 $ 21 $ ( 6,312 ) $ 54,282
Summary of Amortized Cost and Estimated Market Value of Investment Securities by Contractual Maturity	The amortized cost and estimated market value of investment securities at March 31, 2024 by contractual maturity are shown below. Actual maturities will differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. March 31, 2024 (Dollars in thousands) Amortized Fair Due in one year or less $ 3,970 $ 3,886 Due after one year through five years 5,885 5,662 Due after five years through ten years 8,484 7,414 Due after ten years 41,200 36,076 Total $ 59,539 $ 53,038
Summary of Securities with Gross Unrealized Losses	The following tables show information pertaining to securities with gross unrealized losses at March 31, 2024 and December 31, 2023, aggregated by investment category and length of time that individual securities have been in a continuous loss position. Less than Twelve Months Twelve Months and Over March 31, 2024 (Dollars in thousands) Gross Fair Gross Fair Mortgage-backed securities, principally obligations of U.S. federal agencies $ ( 39 ) $ 1,875 $ ( 5,035 ) $ 36,766 State and municipalities ( 1 ) 41 ( 1,414 ) 12,064 Agency bonds — — ( 25 ) 2,160 Total $ ( 40 ) $ 1,916 $ ( 6,474 ) $ 50,990 Less than Twelve Months Twelve Months and Over December 31, 2023 (Dollars in thousands) Gross Fair Gross Fair Mortgage-backed securities, principally obligations of U.S. federal agencies $ ( 78 ) $ 5,797 $ ( 4,714 ) $ 33,971 State and municipalities ( 204 ) 4,839 ( 1,296 ) 7,371 Agency bonds — — ( 20 ) 2,167 Total $ ( 282 ) $ 10,636 $ ( 6,030 ) $ 43,509

Loans and Allowance for Credi_2

Loans and Allowance for Credit Losses (Tables)	3 Months Ended
	Mar. 31, 2024
Text Block [Abstract]
Summary of Inclusive Capitalized Loans	The following table shows the major classification of loans, inclusive of capitalized loan origination costs, as of March 31, 2024 and December 31, 2023. March 31, 2024 December 31, 2023 (Dollars in thousands) Amount As a Amount As a Recreation $ 1,365,165 61 % $ 1,336,226 60 % Home improvement 752,262 34 760,617 34 Commercial 106,570 5 114,827 5 Taxi medallion 3,560 * 3,663 * Strategic partnership 869 * 553 * Total gross loans 2,228,426 100 % 2,215,886 100 % Allowance for credit losses ( 83,827 ) ( 84,235 ) Total net loans $ 2,144,599 $ 2,131,651 (*) Less than 1%.
Schedule of Activity of Gross Loans	The following tables show the activity of the gross loans for the three months ended March 31, 2024 and 2023. Three Months Ended March 31, 2024 (Dollars in thousands) Recreation Home Commercial Taxi Strategic Total Gross loans – December 31, 2023 $ 1,336,226 $ 760,617 $ 114,827 $ 3,663 $ 553 $ 2,215,886 Loan originations 105,765 51,576 — — 15,746 173,087 Principal payments, sales, maturities, and recoveries ( 64,886 ) ( 54,917 ) ( 8,872 ) ( 103 ) ( 15,430 ) ( 144,208 ) Charge-offs ( 18,101 ) ( 4,898 ) — — — ( 22,999 ) Transfer to loan collateral in process of foreclosure, net 5,425 — — — — 5,425 Amortization of origination costs ( 2,952 ) 938 7 — — ( 2,007 ) FASB origination costs, net 3,688 ( 1,054 ) — — — 2,634 Paid-in-kind interest — — 608 — — 608 Gross loans – March 31, 2024 $ 1,365,165 $ 752,262 $ 106,570 $ 3,560 $ 869 $ 2,228,426 Three Months Ended March 31, 2023 (Dollars in thousands) Recreation Home Commercial Taxi Strategic Total Gross loans – December 31, 2022 $ 1,183,512 $ 626,399 $ 92,899 $ 13,571 $ 572 $ 1,916,953 Loan originations 101,681 94,981 3,000 623 27,006 227,291 Principal payments, sales, maturities, and recoveries ( 56,217 ) ( 49,855 ) ( 834 ) ( 4,395 ) ( 25,808 ) ( 137,109 ) Charge-offs ( 12,590 ) ( 1,914 ) — ( 3,593 ) — ( 18,097 ) Transfer to loan collateral in process of foreclosure, net ( 4,357 ) — — ( 2,147 ) — ( 6,504 ) Amortization of origination costs ( 2,759 ) 586 — — — ( 2,173 ) FASB origination costs, net 4,110 ( 555 ) — — — 3,555 Paid-in-kind interest — — 264 — — 264 Gross loans – March 31, 2023 $ 1,213,380 $ 669,642 $ 95,329 $ 4,059 $ 1,770 $ 1,984,180
Summary of Activity in Allowance for Loan Losses	The following table sets forth the activity in the allowance for credit losses for the three months ended March 31, 2024 and 2023. Three Months Ended March 31, (Dollars in thousands) 2024 2023 Allowance for credit losses – beginning balance (1) $ 84,235 $ 63,845 CECL transition amount upon ASU 2016-13 adoption — 13,712 Charge-offs Recreation ( 18,101 ) ( 12,590 ) Home improvement ( 4,898 ) ( 1,914 ) Commercial — — Taxi medallion — ( 3,593 ) Total charge-offs ( 22,999 ) ( 18,097 ) Recoveries Recreation 3,548 2,771 Home improvement 911 632 Commercial 20 10 Taxi medallion 911 3,369 Total recoveries 5,390 6,782 Net charge-offs (2) ( 17,609 ) ( 11,315 ) Provision for credit losses 17,201 4,038 Allowance for credit losses – ending balance (3) $ 83,827 $ 70,280 (1) 2023 beginning balance represents allowance prior to the adoption of ASU 2016-13. (2) As of March 31, 2024 , cumulative net charge-offs of loans and loan collateral in process of foreclosure in the taxi medallion loan portfolio were $ 173.7 million, including $ 105.5 million related to loans secured by New York City taxi medallions, some of which may represent collection opportunities for the Company. (3) As of March 31, 2024 and March 31, 2023 , there were no allowance for credit losses and net charge-offs related to the strategic partnership loans.
Summary of Gross Charge Offs	The following table sets forth the gross charge-offs for the three months ended March 31, 2024, by the year of origination: (Dollars in thousands) 2024 2023 2022 2021 2020 Prior Total Recreation $ — $ 3,763 $ 6,818 $ 3,497 $ 1,289 $ 2,734 $ 18,101 Home improvement — 1,524 1,680 1,163 287 244 4,898 Commercial — — — — — — — Taxi medallion — — — — — — — Total $ — $ 5,287 $ 8,498 $ 4,660 $ 1,576 $ 2,978 $ 22,999 The following table sets forth the gross charge-offs for the three months ended March 31, 2023, by the year of origination: (Dollars in thousands) 2023 2022 2021 2020 2019 Prior Total Recreation $ — $ 3,608 $ 3,070 $ 1,671 $ 1,554 $ 2,687 $ 12,590 Home improvement — 904 628 143 131 108 1,914 Commercial — — — — — — — Taxi medallion — — — — — 3,593 3,593 Total $ — $ 4,512 $ 3,698 $ 1,814 $ 1,685 $ 6,388 $ 18,097
Summary of Allowance for Loan Losses by Type	The following tables set forth the allowance for credit losses by type as of March 31, 2024 and December 31, 2023. March 31, 2024 (Dollars in thousands) Amount Percentage Allowance as Allowance as Recreation $ 60,011 72 % 4.40 % 274.26 % Home improvement 17,930 21 2.38 81.94 Commercial 4,384 5 4.11 20.04 Taxi medallion 1,502 2 42.20 6.86 Total $ 83,827 100 % 3.76 % 383.10 % December 31, 2023 (Dollars in thousands) Amount Percentage Allowance as Allowance as Recreation $ 57,532 68 % 4.31 % 221.50 % Home improvement 21,019 25 2.76 80.92 Commercial 4,148 5 3.61 15.97 Taxi medallion 1,536 2 41.93 5.91 Total $ 84,235 100 % 3.80 % 324.31 %
Summary of Total Nonaccrual Loans and Foregone Interest	The following table presents total nonaccrual loans and foregone interest, substantially all of which is in the taxi medallion portfolio. The fluctuation in nonaccrual interest foregone is due to past due loans and market conditions. (Dollars in thousands) March 31, 2024 December 31, 2023 Total nonaccrual loans $ 21,881 $ 25,974 Interest foregone quarter to date 309 928 Amount of foregone interest applied to principal in the quarter 64 238 Interest foregone life-to-date 1,101 2,119 Amount of foregone interest applied to principal life-to-date 816 822 Percentage of nonaccrual loans to gross loan portfolio 1.0 % 1.2 % Percentage of allowance for credit losses to nonaccrual loans 383.1 % 324.3 %
Summary of Performance Status of Loan	The following tables present the performance status of loans as of March 31, 2024 and December 31, 2023. March 31, 2024 (Dollars in thousands) Performing Nonperforming Total Percentage of Recreation $ 1,358,293 $ 6,872 $ 1,365,165 0.50 % Home improvement 750,903 1,359 752,262 0.18 Commercial 96,480 10,090 106,570 9.47 Taxi medallion — 3,560 3,560 100.00 Strategic partnership 869 — 869 — Total $ 2,206,545 $ 21,881 $ 2,228,426 0.98 % December 31, 2023 (Dollars in thousands) Performing Nonperforming Total Percentage of Recreation $ 1,326,567 $ 9,659 $ 1,336,226 0.72 % Home improvement 759,128 1,489 760,617 0.20 Commercial 103,664 11,163 114,827 9.72 Taxi medallion — 3,663 3,663 100.00 Strategic partnership 553 — 553 — Total $ 2,189,912 $ 25,974 $ 2,215,886 1.17 %
Summary of Attributes of Nonperforming Loan Portfolio	The following tables provide additional information on attributes of the nonperforming loan portfolio as of March 31, 2024 and December 31, 2023, all of which had an allowance recorded against the principal balance. March 31, 2024 December 31, 2023 (Dollars in thousands) Recorded Unpaid Related Recorded Unpaid Related With an allowance recorded Recreation $ 6,872 $ 6,872 $ 302 $ 9,655 $ 9,655 $ 416 Home improvement 1,359 1,359 32 1,493 1,493 41 Commercial 10,090 10,243 2,320 11,163 11,301 1,897 Taxi medallion 3,560 4,223 1,502 3,663 4,347 1,536 Total nonperforming loans with an allowance $ 21,881 $ 22,697 $ 4,156 $ 25,974 $ 26,796 $ 3,890 Three Months Ended March 31, 2024 2023 (Dollars in thousands) Average Interest Income Average Interest Income With an allowance recorded Recreation $ 6,721 $ 16 $ 4,656 $ 13 Home improvement 1,363 1 441 1 Commercial 10,243 — 5,652 — Taxi medallion 4,254 — 6,093 — Total nonperforming loans with an allowance $ 22,581 $ 17 $ 16,842 $ 14 T
Summary of Aging of Loans	he following tables show the aging of all loans as of March 31, 2024 and December 31, 2023. March 31, 2024 Days Past Due Recorded (Dollars in thousands) 30-59 60-89 90 + Total Current Total (1) Accruing Recreation $ 37,205 $ 11,905 $ 6,374 $ 55,484 $ 1,265,310 $ 1,320,794 $ — Home improvement 3,495 1,680 1,362 6,537 749,294 755,831 — Commercial — — 8,396 8,396 99,190 107,586 — Taxi medallion — 100 — 100 3,460 3,560 — Strategic partnership — — — — 869 869 — Total $ 40,700 $ 13,685 $ 16,132 $ 70,517 $ 2,118,123 $ 2,188,640 $ — (1) Excludes $ 40.7 million of capitalized loan origination costs. December 31, 2023 Days Past Due Recorded (Dollars in thousands) 30-59 60-89 90 + Total Current Total (1) Accruing Recreation $ 40,282 $ 15,039 $ 9,095 $ 64,416 $ 1,228,175 $ 1,292,591 $ — Home improvement 3,936 2,562 1,502 8,000 756,069 764,069 — Commercial — 2,156 6,240 8,396 107,140 115,536 — Taxi medallion 201 — — 201 3,462 3,663 — Strategic partnership — — — — 553 553 — Total $ 44,419 $ 19,757 $ 16,837 $ 81,013 $ 2,095,399 $ 2,176,412 $ — (1) Excludes $ 40.0 million of capitalized loan origination costs.
Summary of Activities of the Loan Collateral Process of Foreclosure Related to Recreation and Medallion Loans	The following tables show the activity of loan collateral in process of foreclosure, which relate only to the recreation and taxi medallion loans, for the three months ended March 31, 2024 and 2023. Three Months Ended March 31, 2024 (Dollars in thousands) Recreation Taxi Total Loan collateral in process of foreclosure – December 31, 2023 $ 1,779 $ 9,993 $ 11,772 Transfer from loans, net 5,425 — 5,425 Sales — ( 39 ) ( 39 ) Cash payments received ( 2,447 ) ( 1,273 ) ( 3,720 ) Collateral valuation and other adjustments ( 3,282 ) 42 ( 3,240 ) Loan collateral in process of foreclosure – March 31, 2024 $ 1,475 $ 8,723 $ 10,198 Three Months Ended March 31, 2023 (Dollars in thousands) Recreation Taxi Total Loan collateral in process of foreclosure – December 31, 2022 $ 1,376 $ 20,443 $ 21,819 Transfer from loans, net 4,357 2,147 6,504 Sales ( 2,195 ) ( 15 ) ( 2,210 ) Cash payments received — ( 3,317 ) ( 3,317 ) Collateral valuation adjustments ( 2,077 ) ( 252 ) ( 2,329 ) Loan collateral in process of foreclosure – March 31, 2023 $ 1,461 $ 19,006 $ 20,467

Funds Borrowed (Tables)

Funds Borrowed (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Outstanding Balances of Funds Borrowed	The following table presents outstanding balances of funds borrowed. Payments Due for the Twelve Months Ending March 31, (Dollars in thousands) 2025 2026 2027 2028 2029 Thereafter March 31, 2024 (1) December 31, 2023 (1) Interest (2) Deposits (3) $ 721,155 $ 479,582 $ 350,070 $ 157,800 $ 173,239 $ — $ 1,881,846 $ 1,869,439 3.17 % Retail and privately placed notes — 31,250 — 53,750 39,000 12,500 136,500 139,500 8.08 SBA debentures and borrowings 12,500 15,500 4,500 — 2,500 37,750 72,750 75,250 3.54 Trust preferred securities — — — — — 33,000 33,000 33,000 7.71 Federal reserve and other borrowings 20,000 — — — — — 20,000 — 5.95 Total $ 753,655 $ 526,332 $ 354,570 $ 211,550 $ 214,739 $ 83,250 $ 2,144,096 $ 2,117,189 3.59 % (1) Excludes deferred financing costs of $ 8.5 million as of both March 31, 2024 and December 31, 2023 . (2) Weighted average contractual rate as of March 31, 2024 . (3) Balance excludes $ 1.5 million of strategic partner reserve deposits as of both March 31, 2024 and December 31, 2023 .
Summary of Maturity of Broker Pools, Excluding Strategic Partner Reserve Deposits	The following table presents the maturity of the deposit pools, which includes strategic partner reserve deposits, as of March 31, 2024. (Dollars in thousands) March 31, 2024 Three months or less $ 202,913 Over three months through six months 186,507 Over six months through one year 331,735 Over one year 1,160,691 Deposits 1,881,846 Strategic partner collateral deposits 1,500 Total deposits $ 1,883,346

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Schedule of Operating Lease Costs and Additional Information	The following table presents the operating lease costs and additional information for the three months ended March 31, 2024 and 2023. Three Months Ended March 31, (Dollars in thousands) 2024 2023 Operating lease costs $ 604 $ 597 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases 657 623 Right-of-use asset obtained in exchange for lease liability ( 59 ) ( 56 )
Schedule of Breakout of Operating Leases	The following table presents the breakout of the operating leases as of March 31, 2024 and December 31, 2023. (Dollars in thousands) March 31, 2024 December 31, 2023 Operating lease right-of-use assets $ 8,327 $ 8,785 Other current liabilities 2,255 2,472 Operating lease liabilities 6,710 7,019 Total operating lease liabilities 8,965 9,491 Weighted average remaining lease term 4.4 years 4.9 years Weighted average discount rate 5.56 % 5.47 %
Schedule of Maturities of the Lease Liabilities	At March 31, 2024, maturities of the lease liabilities were as follows: (Dollars in thousands) Remainder of 2024 $ 1,903 2025 2,546 2026 2,567 2027 1,342 2028 573 Thereafter 1,139 Total lease payments 10,070 Less imputed interest 1,105 Total operating lease liabilities $ 8,965

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Summary of Components of Deferred and Other Tax Assets and Liabilities	The following table sets forth the significant components of the Company's deferred and other tax assets and liabilities as of March 31, 2024 and December 31, 2023. (Dollars in thousands) March 31, 2024 December 31, 2023 Goodwill and other intangibles $ 42,943 $ 43,034 Provision for credit losses ( 12,005 ) ( 13,032 ) Net operating loss carryforwards (1) ( 3,803 ) ( 3,802 ) Accrued expenses, compensation, and other assets ( 4,794 ) ( 6,976 ) Unrealized gains on other investments ( 868 ) ( 1,877 ) Total deferred tax liability 21,473 17,347 Valuation allowance 3,373 3,860 Deferred tax liability, net $ 24,846 $ 21,207 (1) As of March 31, 2024 , the Company had an estimated $ 11.1 million of net operating loss carryforwards, $ 1.7 million of which expires at various dates between December 31, 2026 and December 31, 2035 , which had a net carrying value of $ 1.2 million as of March 31, 2024 .
Summary of Components of Tax Provision	The following table shows the components of the Company's tax provision for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, (Dollars in thousands) 2024 2023 Current Federal $ 1,729 $ 2,583 State 643 789 Deferred Federal 3,116 2,246 State 870 764 Net provision for income taxes $ 6,358 $ 6,382
Summary of Reconciliation of Statutory Federal Income Tax Provision to Consolidated Actual Income Tax Provision	The following table presents a reconciliation of statutory federal income tax provision to consolidated actual income tax provision reported for the three months ended March 31, 2024 and 2023. Three Months Ended March 31, (Dollars in thousands) 2024 2023 Statutory Federal income tax provision at 21 % $ 3,758 $ 4,884 State and local income taxes, net of federal income tax benefit 735 955 Non-deductible expenses 1,780 1,058 Other 85 ( 515 ) Total income tax provision $ 6,358 $ 6,382

Stock Options and Restricted _2

Stock Options and Restricted Stock (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Activity for Stock Option Programs	The following table presents the activity for the stock option programs for the 2024 first quarter and the 2023 full year. Number of Exercise Weighted Outstanding at December 31, 2022 1,061,849 $ 2.14 - 9.38 $ 6.51 Granted — — — Cancelled ( 33,382 ) 4.89 - 9.38 6.80 Exercised (1) ( 68,945 ) 4.89 - 7.25 6.44 Outstanding at December 31, 2023 959,522 $ 2.14 - 9.38 $ 6.51 Granted — — — Cancelled ( 85 ) 4.89 4.89 Exercised (1) ( 13,383 ) 4.89 - 7.25 6.61 Outstanding at March 31, 2024 (2) 946,054 $ 2.14 - 9.38 $ 6.51 Options exercisable at: December 31, 2023 697,647 2.14 - 9.38 $ 6.51 March 31, 2024 (2) 857,609 $ 2.14 - 9.38 $ 6.52 (1) The aggregate intrinsic value of exercised options, which represents the difference between the price of the Company’s common stock at the exercise date and the related exercise price of the underlying options, was less than $ 0.1 million for the three months ended March 31, 2024 and was $ 0.1 million for the year ended December 31, 2023 . (2) The aggregate intrinsic value of outstanding options, which represents the difference between the price of the Company’s common stock at March 31, 2024 and the related exercise price of the underlying options, was $ 1.3 million for outstanding options and $ 1.2 million for vested options as of March 31, 2024. The remaining contractual life was 5.9 years for outstanding options and 5.8 years for vested options at March 31, 2024 .
Summary of Activity for Unvested Options Outstanding	The following table presents the activity for the unvested options outstanding under the plans described above for the 2024 first quarter. Number of Exercise Price Weighted Outstanding at December 31, 2023 261,875 $ 4.89 - 7.25 $ 6.49 Granted — — — Cancelled — — — Vested ( 173,430 ) 4.89 - 7.25 6.56 Outstanding at March 31, 2024 88,445 $ 4.89 - 7.25 $ 6.37
Summary of Activity for Restricted Stock Programs	The following table presents the activity for the restricted stock programs for the 2024 first, quarter and the 2023 full year. Number of Grant Weighted Outstanding at December 31, 2022 857,288 $ 4.89 - 7.25 $ 7.27 Granted 399,793 7.67 - 9.37 8.34 Cancelled ( 12,807 ) 4.89 - 8.40 7.24 Vested (1) ( 248,898 ) 4.89 - 7.68 7.10 Outstanding at December 31, 2023 995,376 $ 4.89 - 9.37 $ 7.74 Granted 296,178 8.97 8.97 Cancelled ( 1,208 ) 6.86 - 9.37 8.13 Vested (1) ( 400,985 ) 4.89 - 8.40 7.69 Outstanding at March 31, 2024 (2) 889,361 $ 4.89 - 9.37 $ 8.18 (1) The aggregate fair value of the restricted stock vested was $ 2.7 million for the three months ended March 31, 2024 and $ 2.1 million for the year ended December 31, 2023 . (2) The aggregate fair value of the restricted stock was $ 7.0 million as of March 31, 2024 . The remaining vesting period was 2.9 years at March 31, 2024 .

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Data	The following table presents segment data as of and for the three months ended March 31, 2024. Three Months Ended March 31, 2024 Consumer Lending (Dollars in thousands) Recreation Home Commercial Taxi Medallion Corporate and Other Investments Consolidated Total interest income $ 43,927 $ 17,447 $ 3,645 $ 140 $ 1,911 $ 67,070 Total interest expense 9,645 5,634 1,098 28 2,748 19,153 Net interest income (loss) 34,282 11,813 2,547 112 ( 837 ) 47,917 Provision (benefit) for credit losses 17,030 898 216 ( 944 ) 1 17,201 Net interest income (loss) after loss provision 17,252 10,915 2,331 1,056 ( 838 ) 30,716 Other income 250 2 4,202 639 310 5,403 Other expenses ( 8,287 ) ( 4,114 ) ( 985 ) ( 743 ) ( 4,096 ) ( 18,225 ) Net income (loss) before taxes 9,215 6,803 5,548 952 ( 4,624 ) 17,894 Income tax (provision) benefit ( 3,274 ) ( 2,417 ) ( 1,971 ) ( 338 ) 1,642 ( 6,358 ) Net income (loss) after taxes $ 5,941 $ 4,386 $ 3,577 $ 614 $ ( 2,982 ) $ 11,536 Income attributable to the non-controlling interest 1,512 Total net income attributable to Medallion Financial Corp. $ 10,024 Balance Sheet Data Total loans $ 1,365,165 $ 752,262 $ 106,570 $ 3,560 $ 869 $ 2,228,426 Total assets 1,322,761 738,551 102,331 8,611 446,508 2,618,762 Total funds borrowed 1,083,760 605,107 83,842 7,055 365,832 2,145,596 Selected Financial Ratios Return on average assets 1.82 % 2.38 % 13.50 % 23.68 % ( 2.78 )% 1.80 % Return on average stockholders' equity * * * * * 11.65 Return on average equity 11.44 14.93 84.71 148.65 ( 17.47 ) 11.18 Interest yield 13.17 9.28 12.99 15.59 NM 11.34 Net interest margin, gross 10.28 6.28 9.08 12.47 NM 8.10 Net interest margin, net of allowance 10.75 6.45 9.43 21.57 NM 8.39 Reserve coverage 4.40 2.38 4.11 42.19 NM 3.76 Delinquency status (1) 0.48 0.18 7.80 — NM 0.74 Charge-off (recovery) ratio (2) 4.36 2.12 ( 0.07 ) ( 101.47 ) NM 3.20 (1) Loans 90 days or more past due. (2) Negative balances indicate net recoveries for the period. (NM) Not meaningful. (*) Line item is not applicable to segments. The following table presents segment data as of and for the three months ended March 31, 2023. Three Months March 31, 2023 Consumer Lending (Dollars in thousands) Recreation Home Commercial Taxi Medallion Corporate and Other Investments Consolidated Total interest income $ 37,899 $ 13,649 $ 2,701 $ 310 $ 1,284 $ 55,843 Total interest expense 5,904 3,279 809 67 2,181 12,240 Net interest income (loss) 31,995 10,370 1,892 243 ( 897 ) 43,603 Provision (benefit) for credit losses 7,751 3,081 327 ( 7,084 ) ( 37 ) 4,038 Net interest income (loss) after loss provision 24,244 7,289 1,565 7,327 ( 860 ) 39,565 Other income — 1 271 1,620 191 2,083 Other expenses ( 7,803 ) ( 3,994 ) ( 420 ) ( 2,027 ) ( 4,149 ) ( 18,393 ) Net income (loss) before taxes 16,441 3,296 1,416 6,920 ( 4,818 ) 23,255 Income tax (provision) benefit ( 4,513 ) ( 905 ) ( 389 ) ( 1,899 ) 1,324 ( 6,382 ) Net income (loss) after taxes $ 11,928 $ 2,391 $ 1,027 $ 5,021 $ ( 3,494 ) $ 16,873 Income attributable to the non-controlling interest 1,512 Total net income attributable to Medallion Financial Corp. $ 15,361 Balance Sheet Data Total loans, gross $ 1,213,380 $ 669,642 $ 95,329 $ 4,059 $ 1,770 $ 1,984,180 Total assets 1,179,965 660,846 101,392 20,335 389,132 2,351,670 Total funds borrowed 961,561 538,527 82,625 16,571 317,106 1,916,390 Selected Financial Ratios Return on average assets 4.14 % 1.52 % 4.11 % 90.53 % ( 3.79 )% 2.99 % Return on average stockholders' equity * * * * * 20.72 Return on average equity 25.63 9.37 25.39 558.90 ( 23.42 ) 18.50 Interest yield 12.87 8.54 11.53 11.78 NM 10.78 Net interest margin, gross 10.86 6.49 8.08 9.23 NM 8.42 Net interest margin, net of allowance 11.33 6.62 8.32 28.89 NM 8.71 Reserve coverage 4.12 2.19 3.71 53.07 NM 3.54 Delinquency status (1) 0.36 0.07 0.08 — NM 0.24 Charge-off ratio (2) 3.48 0.82 ( 0.16 ) 29.84 NM 2.35 (1) Loans 90 days or more past due. (2) Negative balances indicate net recoveries for the period. (NM) Not meaningful. (*) Line item is not applicable to segments.

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2024
Investments, All Other Investments [Abstract]
Summary of Carrying Values and Fair Values of Financial Instruments	The fair value of the debentures payable to the SBA is estimated based on current market interest rates for similar debt. March 31, 2024 December 31, 2023 (Dollars in thousands) Carrying Fair Carrying Fair Financial assets Cash, cash equivalents, and federal funds sold (1) $ 169,125 $ 169,125 $ 149,845 $ 149,845 Equity investments 16,374 16,374 11,430 11,430 Investment securities 53,038 53,038 54,282 54,282 Loans receivable 2,144,599 2,144,599 2,131,651 2,131,651 Accrued interest receivable (2) 12,673 12,673 13,538 13,538 Equity securities (3) 1,730 1,730 1,748 1,748 Financial liabilities Funds borrowed 2,145,596 2,145,596 2,118,689 2,118,689 Accrued interest payable (2) 6,077 6,077 6,822 6,822 (1) Categorized as level 1 within the fair value hierarchy, excluding $ 1.3 million in interest bearing deposits categorized as level 2 as of March 31, 2024 and $ 1.3 million as of December 31, 2023 . See Note 13. (2) Categorized as level 3 within the fair value hierarchy. See Note 13. (3) Included within other assets on the balance sheet.

Fair Value of Assets and liab_2

Fair Value of Assets and liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables present the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of March 31, 2024 and December 31, 2023. March 31, 2024 (Dollars in thousands) Level 1 Level 2 Level 3 Total Assets Interest-bearing deposits $ — $ 1,250 $ — $ 1,250 Investment securities — 53,038 — 53,038 Equity securities 1,730 — — 1,730 Total (1) $ 1,730 $ 54,288 $ — $ 56,018 (1) Total unrealized losses of $ 0.2 million , net of tax, was included in other comprehensive income for the three months ended March 31, 2024 related to these assets. December 31, 2023 (Dollars in thousands) Level 1 Level 2 Level 3 Total Assets Interest-bearing deposits $ — $ 1,250 $ — $ 1,250 Investment securities — 54,282 — 54,282 Equity securities 1,748 — — 1,748 Total (1) $ 1,748 $ 55,532 $ — $ 57,280 (1) Total unrealized losses of $ 0.3 million, net of tax, was included in other comprehensive loss for the year ended December 31, 2023 related to these assets .
Summary of Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis	The following tables present the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a non-recurring basis as of March 31, 2024 and December 31, 2023. March 31, 2024 (Dollars in thousands) Level 1 Level 2 Level 3 Total Assets Equity investments $ — $ — $ 16,374 $ 16,374 Impaired loans — — 21,881 21,881 Loan collateral in process of foreclosure — — 10,198 10,198 Total $ — $ — $ 48,453 $ 48,453 December 31, 2023 (Dollars in thousands) Level 1 Level 2 Level 3 Total Assets Equity investments $ — $ — $ 11,430 $ 11,430 Impaired loans — — 25,974 25,974 Loan collateral in process of foreclosure — — 11,772 11,772 Total $ — $ — $ 49,176 $ 49,176
Summary of Valuation Techniques and Significant Unobservable Inputs Used in Non-Recurring Level 3 Fair Value Measurements of Assets and Liabilities	The valuation techniques and significant unobservable inputs used in non-recurring level 3 fair value measurements of assets and liabilities as of March 31, 2024 and December 31, 2023. (Dollars in thousands except per share amounts) Fair Value Valuation Techniques Unobservable Inputs Range Equity investments $ 11,290 Investee financial analysis Financial condition and operating performance of the borrower (1) N/A Collateral support N/A 5,084 Precedent market transaction Sale price $ 5,084 273 Precedent market transaction Offering price $ 8.73 / share Impaired loans 21,881 Market approach Historical and actual loss experience 0.00 % - 43.51 % Transfer prices (2) $ 0.0 - 79.5 Collateral value N/A Loan collateral in process of foreclosure 10,198 Market approach Transfer prices (2) $ 0.0 - 79.5 Collateral value (3) $ 1.8 - $ 43.2 (1) Includes projections based on revenue, EBITDA, leverage, and liquidation amounts. These assumptions are based on a variety of factors, including economic conditions, industry, and market developments, market valuations of comparable companies, and company-specific developments, including exit strategies and realization opportunities. (2) Represents amount net of liquidation costs. (3) Relates to the recreation loan portfolio. (Dollars in thousands except per share amounts) Fair Value Valuation Techniques Unobservable Inputs Range Equity investments $ 11,157 Investee financial analysis Financial condition and operating performance of the borrower (1) N/A Collateral support N/A 273 Precedent market transaction Offering price $ 8.73 / share Impaired loans 25,974 Market approach Historical and actual loss experience 0.00 % - 28.48 % Transfer prices (2) $ 0.0 - $ 79.5 Collateral value N/A Loan collateral in process of foreclosure 11,772 Market approach Transfer prices (2) $ 0.0 - $ 79.5 Collateral value (3) $ 2.3 - $ 45.0 (1) Includes projections based on revenue, EBITDA, leverage, and liquidation amounts. These assumptions are based on a variety of factors, including economic conditions, industry, and market developments, market valuations of comparable companies, and company-specific developments, including exit strategies and realization opportunities. (2) Represents amount net of liquidation costs. (3) Relates to the recreation loan portfolio.

Organization of Medallion Fin_2

Organization of Medallion Financial Corp. and its Subsidiaries - Additional Information (Detail) $ in Millions	Mar. 31, 2024 USD ($)
Medallion Financing Trust I [Member]
Subsidiary or Equity Method Investee [Line Items]
Aggregate assets of trust	$ 34

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)		3 Months Ended		12 Months Ended
	Jan. 01, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Interest-bearing funds deposited in other banks		$ 1,300,000
Non-marketable securities		16,400,000		$ 11,400,000
Impact of equity investment		4,000,000
Cumulative Appreciation		4,700,000
Past Due		70,517,000		81,013,000
Notes receivable net		79,500
Purchased of equity securities with readily determinable fair value					$ 2,000,000
Investment, Type [Extensible Enumeration]					Equity Securities [Member]
Equity securities, fair value		1,700,000		1,700,000
Net loan origination costs		40,700,000		40,000,000
Net Amortization to income		2,000,000	$ 1,900,000
Amount of loan charged off			2,500,000
Principal portion of loans serviced, fair value		14,000,000		14,000,000
Loans write down to collateral value		$ 22,999,000	18,097,000
Intangible assets useful life		20 years
Goodwill		$ 150,803,000		150,803,000
Intangible assets, net		20,230,000		20,591,000
Amortization of intangible assets		361,000	360,000
Depreciation and amortization		100,000	100,000
Amortization expense		800,000	$ 800,000
Deferred costs		$ 8,500,000		$ 8,500,000
Potential dilutive common shares excluded from EPS computation		9,000	9,000
Stock based compensation award, Amount		$ 1,500,000	$ 1,000,000
Stock based compensation award per diluted common share		$ 0.06	$ 0.05
Unrecognized compensation cost related to unvested stock options and restricted stock		$ 9,300,000
Unrecognized compensation cost related to unvested stock options and restricted stock, recognition period		12 months
Tier 1 leverage capital to total assets ratio		15%
Tier 1 leverage capital ratio		16.40%
Capital conversation buffer		2.50%		2.50%
Consumer Loan [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase in allowance for credit losses on loans	$ 13,700,000
Commercial Loans [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Financing receivable allowance for credit loss	$ 9,900,000
Restricted Shares [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stock based compensation award		296,178	304,749	399,793
Restricted Stock Units [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stock based compensation award		0	0
Performance Shares [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stock based compensation award		215,687		296,444
Stock based compensation award		215,687	0
Medallion Bank [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Amortization of intangible assets				$ 0
90+ [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Past Due		$ 16,132,000		16,837,000
90+ [Member] | Loans [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Past Due		$ 16,100,000		$ 16,800,000
Total loans more than 90 days past due ,percentage		0.74%		0.77%
Bank Holding Company Accounting [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net premium on investment securities		$ 100,000		$ 100,000
Minimum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Interest bearing loan term		5 years
Estimated useful life of fixed assets		3 years
Maximum [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Interest bearing loan term		6 years
Investment securities Amortized to interest income		$ 100,000	$ 100,000
Estimated useful life of fixed assets		10 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Summary of Unrealized Portion Related to Equity Securities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Equity Securities, FV-NI, Gain (Loss) [Abstract]
Net gains (losses) recognized during the period on equity securities	$ (19)	$ 28
Less: Net gains (losses) recognized during the period on equity securities sold during the period	0	0
Unrealized gains (losses) recognized during the reporting period on equity securities still held at the reporting date	$ (19)	$ 28

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Summary of Finalized Adoption Related to Allowance for Credit Losses on Loans (Detail) - USD ($) $ in Thousands	Jan. 01, 2023	Dec. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on loans		$ 63,845
Recreation [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on loans		41,966
Home Improvement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on loans		11,340
Commercial [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on loans		1,049
Taxi Medallion [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on loans		9,490
Strategic Partnership [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on loans		$ 0
Effect of ASC 326 Adoption
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on loans	$ 13,712
Effect of ASC 326 Adoption | Recreation [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on loans	10,037
Effect of ASC 326 Adoption | Home Improvement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on loans	1,518
Effect of ASC 326 Adoption | Commercial [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on loans	2,157
Effect of ASC 326 Adoption | Taxi Medallion [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on loans	0
Effect of ASC 326 Adoption | Strategic Partnership [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on loans	0
December 31, 2022 Pre-Topic 326 Adoption
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on loans	77,557
December 31, 2022 Pre-Topic 326 Adoption | Recreation [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on loans	52,003
December 31, 2022 Pre-Topic 326 Adoption | Home Improvement [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on loans	12,858
December 31, 2022 Pre-Topic 326 Adoption | Commercial [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on loans	3,206
December 31, 2022 Pre-Topic 326 Adoption | Taxi Medallion [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on loans	9,490
December 31, 2022 Pre-Topic 326 Adoption | Strategic Partnership [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses on loans	$ 0

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Investments In Loans [Line Items]
Intangibles assets	$ 20,230	$ 20,591
Intellectual Property [Member]
Investments In Loans [Line Items]
Intangibles assets	15,400	15,675
Contractor Relationships [Member]
Investments In Loans [Line Items]
Intangibles assets	$ 4,830	$ 4,916

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Summary of the Calculation of Basic and Diluted EPS (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accounting Policies [Abstract]
Net income attributable to common stockholders	$ 10,024	$ 15,361
Weighted average common shares outstanding applicable to basic EPS	22,641,385	22,342,911
Effect of restricted stock grants	610,333	483,429
Effect of dilutive stock options	254,793	149,117
Effect of performance stock unit grants	258,534	0
Adjusted weighted average common shares outstanding applicable to diluted EPS	23,765,045	22,975,457
Basic net income per share	$ 0.44	$ 0.69
Diluted net income per share	$ 0.42	$ 0.67

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Summary of Bank's Actual Capital Amounts and Ratios, and the Regulatory Minimum Ratios (Detail) $ in Thousands		3 Months Ended	12 Months Ended
		Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Accounting Policies [Abstract]
Regulatory, Minimum, Leverage ratio	[1]	0.04
Regulatory, Minimum, Common equity tier 1 capital ratio	[2]	7%
Regulatory, Minimum, Tier 1 capital ratio	[3]	8.50%
Regulatory, Minimum, Total capital ratio	[3]	0.105
Regulatory, Well-Capitalized, Leverage ratio	[1]	0.05
Regulatory, Well-Capitalized, Common equity tier 1 capital ratio	[2]	6.50%
Regulatory, Well-Capitalized, Tier 1 capital ratio	[3]	0.08
Regulatory, Well-Capitalized, Total capital ratio	[3]	0.10
Common equity Tier 1 capital		$ 298,662	$ 293,774
Tier 1 capital		367,450	362,561
Total capital		395,297	390,153
Average assets		2,236,357	2,232,816
Risk-weighted assets		$ 2,176,939	$ 2,155,641
Leverage ratio	[1]	0.164	0.162
Common equity Tier 1 capital ratio	[2]	0.137	0.136
Tier 1 capital ratio	[3]	0.169	0.168
Total capital ratio	[3]	0.182	0.181
[1] Calculated by dividing Tier 1 capital by average assets. Calculated by subtracting preferred stock or non-controlling interest from Tier 1 capital and dividing by risk-weighted assets. Calculated by dividing Tier 1 or total capital by risk-weighted assets.

Investment Securities - Summary

Investment Securities - Summary of Fixed Maturity Securities Available for Sale (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 59,539	$ 60,573
Gross Unrealized Gains	13	21
Gross Unrealized Losses	(6,514)	(6,312)
Fair Value	53,038	54,282
Mortgage-backed Securities, Principally Obligations of US Federal Agencies [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	43,804	44,653
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(5,074)	(4,791)
Fair Value	38,730	39,862
State and Municipalities [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	13,550	13,733
Gross Unrealized Gains	13	21
Gross Unrealized Losses	(1,415)	(1,501)
Fair Value	12,148	12,253
Agency Bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,185	2,187
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(25)	(20)
Fair Value	$ 2,160	$ 2,167

Investment Securities - Summa_2

Investment Securities - Summary of Amortized Cost and Estimated Market Value of Investment Securities by Contractual Maturity (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Available-for-sale Securities, Debt Maturities [Abstract]
Amortized Cost, due in one year or less	$ 3,970
Amortized Cost, due after one year through five years	5,885
Amortized Cost, due after five years through ten years	8,484
Amortized Cost, due after ten years	41,200
Amortized Cost	59,539	$ 60,573
Fair Value, due in one year or less	3,886
Fair Value, due after one year through five years	5,662
Fair Value, due after five years through ten years	7,414
Fair Value, due after ten years	36,076
Fair Value	$ 53,038	$ 54,282

Investment Securities - Summa_3

Investment Securities - Summary of Securities with Gross Unrealized Losses (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses, Less than Twelve Months	$ (40)	$ (282)
Fair Value, Less than Twelve Months	1,916	10,636
Gross Unrealized Losses, Twelve Months and Over	(6,474)	(6,030)
Fair Value, Twelve Months and Over	50,990	43,509
Mortgage-backed Securities, Principally Obligations of US Federal Agencies [Member]
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses, Less than Twelve Months	(39)	(78)
Fair Value, Less than Twelve Months	1,875	5,797
Gross Unrealized Losses, Twelve Months and Over	(5,035)	(4,714)
Fair Value, Twelve Months and Over	36,766	33,971
State and Municipalities [Member]
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses, Less than Twelve Months	(1)	(204)
Fair Value, Less than Twelve Months	41	4,839
Gross Unrealized Losses, Twelve Months and Over	(1,414)	(1,296)
Fair Value, Twelve Months and Over	12,064	7,371
Agency Bonds [Member]
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Losses, Less than Twelve Months	0	0
Fair Value, Less than Twelve Months	0	0
Gross Unrealized Losses, Twelve Months and Over	(25)	(20)
Fair Value, Twelve Months and Over	$ 2,160	$ 2,167

Investment Securities - Additio

Investment Securities - Additional Information (Detail) - Securities	Mar. 31, 2024	Dec. 31, 2023
Debt Securities, Available-for-Sale [Abstract]
Number of Securities	60	60

Loans and Allowance for Credi_3

Loans and Allowance for Credit Losses - Summary of Inclusive Capitalized Loans (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024		Dec. 31, 2023		Mar. 31, 2023		Dec. 31, 2022
Student Loan Portfolio By Program [Line Items]
Total gross loans	$ 2,188,640		$ 2,176,412
Allowance for credit losses	(83,827)	[1]	(84,235)	[2]	$ (70,280)	[1]	$ (63,845)	[2]
Net loans receivable	2,144,599		2,131,651
Bank Holding Company Accounting [Member]
Student Loan Portfolio By Program [Line Items]
Total gross loans	2,228,426		2,215,886		1,984,180		1,916,953
Allowance for credit losses	(83,827)		(84,235)
Net loans receivable	$ 2,144,599		$ 2,131,651
Percentage of total gross loans	100%		100%
Recreation [Member]
Student Loan Portfolio By Program [Line Items]
Total gross loans	$ 1,320,794		$ 1,292,591
Allowance for credit losses	(60,011)		(57,532)
Recreation [Member] | Bank Holding Company Accounting [Member]
Student Loan Portfolio By Program [Line Items]
Total gross loans	$ 1,365,165		$ 1,336,226		1,213,380		1,183,512
Percentage of total gross loans	61%		60%
Home Improvement [Member]
Student Loan Portfolio By Program [Line Items]
Total gross loans	$ 755,831		$ 764,069
Allowance for credit losses	(17,930)		(21,019)
Home Improvement [Member] | Bank Holding Company Accounting [Member]
Student Loan Portfolio By Program [Line Items]
Total gross loans	$ 752,262		$ 760,617		669,642		626,399
Percentage of total gross loans	34%		34%
Commercial [Member]
Student Loan Portfolio By Program [Line Items]
Allowance for credit losses	$ (4,384)		$ (4,148)
Commercial [Member] | Bank Holding Company Accounting [Member]
Student Loan Portfolio By Program [Line Items]
Total gross loans	$ 106,570		$ 114,827		95,329		92,899
Percentage of total gross loans	5%		5%
Taxi Medallion [Member]
Student Loan Portfolio By Program [Line Items]
Total gross loans	$ 3,560		$ 3,663
Allowance for credit losses	(1,502)		(1,536)
Taxi Medallion [Member] | Bank Holding Company Accounting [Member]
Student Loan Portfolio By Program [Line Items]
Total gross loans	3,560		3,663		4,059		13,571
Strategic Partnership [Member]
Student Loan Portfolio By Program [Line Items]
Total gross loans	869		553
Strategic Partnership [Member] | Bank Holding Company Accounting [Member]
Student Loan Portfolio By Program [Line Items]
Total gross loans	$ 869		$ 553		$ 1,770		$ 572
[1] As of March 31, 2024 and March 31, 2023 , there were no allowance for credit losses and net charge-offs related to the strategic partnership loans. 2023 beginning balance represents allowance prior to the adoption of ASU 2016-13.

Loans and Allowance for Credi_4

Loans and Allowance for Credit Losses - Schedule of Activity of Gross Loans (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Schedule Of Gross Real Estate And Loan Activity [Line Items]
Gross loans, beginning balance		$ 2,176,412
Charge-offs, net	[1]	(17,609)	$ (11,315)
Transfer to loan collateral in process of foreclosure, net		(5,425)	(6,504)
Amortization of origination costs		(2,007)	(2,173)
Paid-in-kind interest		608	264
Gross loans, ending balance		2,188,640
Recreation [Member]
Schedule Of Gross Real Estate And Loan Activity [Line Items]
Gross loans, beginning balance		1,292,591
Transfer to loan collateral in process of foreclosure, net		(5,425)	(4,357)
Gross loans, ending balance		1,320,794
Home Improvement [Member]
Schedule Of Gross Real Estate And Loan Activity [Line Items]
Gross loans, beginning balance		764,069
Gross loans, ending balance		755,831
Taxi Medallion [Member]
Schedule Of Gross Real Estate And Loan Activity [Line Items]
Gross loans, beginning balance		3,663
Transfer to loan collateral in process of foreclosure, net		0	(2,147)
Gross loans, ending balance		3,560
Strategic Partnership [Member]
Schedule Of Gross Real Estate And Loan Activity [Line Items]
Gross loans, beginning balance		553
Charge-offs, net		0	0
Gross loans, ending balance		869
Bank Holding Company Accounting [Member]
Schedule Of Gross Real Estate And Loan Activity [Line Items]
Gross loans, beginning balance		2,215,886	1,916,953
Loan originations		173,087	227,291
Principal payments, sales, maturities, and recoveries		(144,208)	(137,109)
Charge-offs, net		(22,999)	(18,097)
Transfer to loan collateral in process of foreclosure, net		5,425	(6,504)
Amortization of origination costs		(2,007)	(2,173)
FASB origination costs, net		2,634	3,555
Paid-in-kind interest		608	264
Gross loans, ending balance		2,228,426	1,984,180
Bank Holding Company Accounting [Member] | Recreation [Member]
Schedule Of Gross Real Estate And Loan Activity [Line Items]
Gross loans, beginning balance		1,336,226	1,183,512
Loan originations		105,765	101,681
Principal payments, sales, maturities, and recoveries		(64,886)	(56,217)
Charge-offs, net		(18,101)	(12,590)
Transfer to loan collateral in process of foreclosure, net		5,425	(4,357)
Amortization of origination costs		(2,952)	(2,759)
FASB origination costs, net		3,688	4,110
Paid-in-kind interest		0	0
Gross loans, ending balance		1,365,165	1,213,380
Bank Holding Company Accounting [Member] | Home Improvement [Member]
Schedule Of Gross Real Estate And Loan Activity [Line Items]
Gross loans, beginning balance		760,617	626,399
Loan originations		51,576	94,981
Principal payments, sales, maturities, and recoveries		(54,917)	(49,855)
Charge-offs, net		(4,898)	(1,914)
Transfer to loan collateral in process of foreclosure, net		0	0
Amortization of origination costs		938	586
FASB origination costs, net		(1,054)	(555)
Paid-in-kind interest		0	0
Gross loans, ending balance		752,262	669,642
Bank Holding Company Accounting [Member] | Commercial [Member]
Schedule Of Gross Real Estate And Loan Activity [Line Items]
Gross loans, beginning balance		114,827	92,899
Loan originations		0	3,000
Principal payments, sales, maturities, and recoveries		(8,872)	(834)
Charge-offs, net		0	0
Transfer to loan collateral in process of foreclosure, net		0	0
Amortization of origination costs		7	0
FASB origination costs, net		0	0
Paid-in-kind interest		608	264
Gross loans, ending balance		106,570	95,329
Bank Holding Company Accounting [Member] | Taxi Medallion [Member]
Schedule Of Gross Real Estate And Loan Activity [Line Items]
Gross loans, beginning balance		3,663	13,571
Loan originations		0	623
Principal payments, sales, maturities, and recoveries		(103)	(4,395)
Charge-offs, net		0	(3,593)
Transfer to loan collateral in process of foreclosure, net		0	(2,147)
Amortization of origination costs		0	0
FASB origination costs, net		0	0
Paid-in-kind interest		0	0
Gross loans, ending balance		3,560	4,059
Bank Holding Company Accounting [Member] | Strategic Partnership [Member]
Schedule Of Gross Real Estate And Loan Activity [Line Items]
Gross loans, beginning balance		553	572
Loan originations		15,746	27,006
Principal payments, sales, maturities, and recoveries		(15,430)	(25,808)
Charge-offs, net		0	0
Transfer to loan collateral in process of foreclosure, net		0	0
Amortization of origination costs		0	0
FASB origination costs, net		0	0
Paid-in-kind interest		0	0
Gross loans, ending balance		$ 869	$ 1,770
[1] As of March 31, 2024 , cumulative net charge-offs of loans and loan collateral in process of foreclosure in the taxi medallion loan portfolio were $ 173.7 million, including $ 105.5 million related to loans secured by New York City taxi medallions, some of which may represent collection opportunities for the Company.

Loans and Allowance for Credi_5

Loans and Allowance for Credit Losses - Summary of Activity in Allowance for Loan Losses (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024	Mar. 31, 2023
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses - beginning balance	[1]	$ 84,235	$ 63,845
Total charge-offs		(22,999)	(18,097)
Total recoveries		5,390	6,782
Charge-offs, net	[2]	(17,609)	(11,315)
Provision for credit losses		17,201	4,038
Allowance for credit losses - ending balance	[3]	83,827	70,280
Accounting Standards Update 2016-13 [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses - ending balance		0	13,712
Recreation [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses - beginning balance		57,532
Total charge-offs		(18,101)	(12,590)
Total recoveries		3,548	2,771
Allowance for credit losses - ending balance		60,011
Home Improvement [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses - beginning balance		21,019
Total charge-offs		(4,898)	(1,914)
Total recoveries		911	632
Allowance for credit losses - ending balance		17,930
Commercial [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses - beginning balance		4,148
Total charge-offs		0	0
Total recoveries		20	10
Allowance for credit losses - ending balance		4,384
Taxi Medallion [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses - beginning balance		1,536
Total charge-offs		0	(3,593)
Total recoveries		911	$ 3,369
Allowance for credit losses - ending balance		$ 1,502
[1] 2023 beginning balance represents allowance prior to the adoption of ASU 2016-13. As of March 31, 2024 , cumulative net charge-offs of loans and loan collateral in process of foreclosure in the taxi medallion loan portfolio were $ 173.7 million, including $ 105.5 million related to loans secured by New York City taxi medallions, some of which may represent collection opportunities for the Company. As of March 31, 2024 and March 31, 2023 , there were no allowance for credit losses and net charge-offs related to the strategic partnership loans.

Loans and Allowance for Credi_6

Loans and Allowance for Credit Losses - Summary of Activity in Allowance for Loan Losses (Parenthetical) (Detail) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2024		Mar. 31, 2023	Dec. 31, 2023	[1]	Dec. 31, 2022
Financing Receivable, Allowance for Credit Losses [Line Items]
Cumulative charges of loans and loan collateral process of foreclosure		$ 10,198	[1]	$ 20,467	$ 11,772		$ 21,819
Net charge-offs	[2]	17,609		11,315
Strategic Partnership [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Net charge-offs		0		$ 0
Medallion Bank [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Cumulative charges of loans and loan collateral process of foreclosure		173,700
New York Taxi Medallion [Member]
Financing Receivable, Allowance for Credit Losses [Line Items]
Cumulative charges of loans and loan collateral process of foreclosure		$ 105,500
[1] Includes financed sales of this collateral to third parties that are reported separately from the loan portfolio, of $ 5.8 million as of March 31, 2024 and $ 6.2 million as of December 31, 2023 . As of March 31, 2024 , cumulative net charge-offs of loans and loan collateral in process of foreclosure in the taxi medallion loan portfolio were $ 173.7 million, including $ 105.5 million related to loans secured by New York City taxi medallions, some of which may represent collection opportunities for the Company.

Loans and Allowance for Credi_7

Loans and Allowance for Credit Losses - Summary of Gross Charge Offs (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Financing Receivable, Past Due [Line Items]
2024	$ 0	$ 0
2023	5,287	4,512
2022	8,498	3,698
2021	4,660	1,814
2020	1,576	1,685
Prior	2,978	6,388
Total	22,999	18,097
Recreation [Member]
Financing Receivable, Past Due [Line Items]
2024	0	0
2023	3,763	3,608
2022	6,818	3,070
2021	3,497	1,671
2020	1,289	1,554
Prior	2,734	2,687
Total	18,101	12,590
Home Improvement [Member]
Financing Receivable, Past Due [Line Items]
2024	0	0
2023	1,524	904
2022	1,680	628
2021	1,163	143
2020	287	131
Prior	244	108
Total	4,898	1,914
Commercial Loan [Member]
Financing Receivable, Past Due [Line Items]
2024	0	0
2023	0	0
2022	0	0
2021	0	0
2020	0	0
Prior	0	0
Total	0	0
Taxi Medallion [Member]
Financing Receivable, Past Due [Line Items]
2024	0	0
2023	0	0
2022	0	0
2021	0	0
2020	0	0
Prior	0	3,593
Total	$ 0	$ 3,593

Loans and Allowance for Credi_8

Loans and Allowance for Credit Losses - Summary of Allowance for Loan Losses by Type (Detail) - USD ($) $ in Thousands	Mar. 31, 2024		Dec. 31, 2023		Mar. 31, 2023	[1]	Dec. 31, 2022	[2]
Financing Receivable Recorded Investment Past Due [Line Items]
Amount	$ 83,827	[1]	$ 84,235	[2]	$ 70,280		$ 63,845
Percentage of Allowance	100%		100%
Allowance as a Percent of Loan Category	3.76%		3.80%
Allowance as a Percent of Nonaccrual	383.10%		324.31%
Recreation [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Amount	$ 60,011		$ 57,532
Percentage of Allowance	72%		68%
Allowance as a Percent of Loan Category	4.40%		4.31%
Allowance as a Percent of Nonaccrual	274.26%		221.50%
Home Improvement [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Amount	$ 17,930		$ 21,019
Percentage of Allowance	21%		25%
Allowance as a Percent of Loan Category	2.38%		2.76%
Allowance as a Percent of Nonaccrual	81.94%		80.92%
Commercial [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Amount	$ 4,384		$ 4,148
Percentage of Allowance	5%		5%
Allowance as a Percent of Loan Category	4.11%		3.61%
Allowance as a Percent of Nonaccrual	20.04%		15.97%
Taxi Medallion [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Amount	$ 1,502		$ 1,536
Percentage of Allowance	2%		2%
Allowance as a Percent of Loan Category	42.20%		41.93%
Allowance as a Percent of Nonaccrual	6.86%		5.91%
[1] As of March 31, 2024 and March 31, 2023 , there were no allowance for credit losses and net charge-offs related to the strategic partnership loans. 2023 beginning balance represents allowance prior to the adoption of ASU 2016-13.

Loans and Allowance for Credi_9

Loans and Allowance for Credit Losses - Summary of Summary of Total Nonaccrual Loans and Foregone Interest (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Receivables [Abstract]
Total nonaccrual loans	$ 21,881	$ 25,974
Interest foregone quarter to date	309	928
Amount of foregone interest applied to principal in the quarter	64	238
Interest foregone life-to-date	1,101	2,119
Amount of foregone interest applied to principal life-to-date	$ 816	$ 822
Percentage of nonaccrual loans to gross loan portfolio	1%	1.20%
Percentage of allowance for credit losses to nonaccrual loans	383.10%	324.30%

Loans and Allowance for Cred_10

Loans and Allowance for Credit Losses - Summary of Performance Status of Loan (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Recorded Investment [Line Items]
Status of loans	$ 2,228,426	$ 2,215,886
Percentage of Nonperforming to Total	0.98%	1.17%
Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Status of loans	$ 2,206,545	$ 2,189,912
Non - Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Status of loans	21,881	25,974
Recreation [Member]
Financing Receivable, Recorded Investment [Line Items]
Status of loans	$ 1,365,165	$ 1,336,226
Percentage of Nonperforming to Total	0.50%	0.72%
Recreation [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Status of loans	$ 1,358,293	$ 1,326,567
Recreation [Member] | Non - Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Status of loans	6,872	9,659
Home Improvement [Member]
Financing Receivable, Recorded Investment [Line Items]
Status of loans	$ 752,262	$ 760,617
Percentage of Nonperforming to Total	0.18%	0.20%
Home Improvement [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Status of loans	$ 750,903	$ 759,128
Home Improvement [Member] | Non - Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Status of loans	1,359	1,489
Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Status of loans	$ 106,570	$ 114,827
Percentage of Nonperforming to Total	9.47%	9.72%
Commercial [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Status of loans	$ 96,480	$ 103,664
Commercial [Member] | Non - Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Status of loans	10,090	11,163
Taxi Medallion [Member]
Financing Receivable, Recorded Investment [Line Items]
Status of loans	$ 3,560	$ 3,663
Percentage of Nonperforming to Total	100%	100%
Taxi Medallion [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Status of loans	$ 0	$ 0
Taxi Medallion [Member] | Non - Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Status of loans	3,560	3,663
Strategic Partnership [Member]
Financing Receivable, Recorded Investment [Line Items]
Status of loans	$ 869	$ 553
Percentage of Nonperforming to Total	0%	0%
Strategic Partnership [Member] | Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Status of loans	$ 869	$ 553
Strategic Partnership [Member] | Non - Performing [Member]
Financing Receivable, Recorded Investment [Line Items]
Status of loans	$ 0	$ 0

Loans and Allowance for Cred_11

Loans and Allowance for Credit Losses - Summary of Attributes of Nonperforming Loan Portfolio (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment, With related allowance	$ 21,881		$ 25,974
Unpaid principal balance, With related allowance	22,697		26,796
Related Allowance, With related allowance	4,156		3,890
Average Investment Recorded, With related allowance	22,581	$ 16,842
Interest Income (Expense) Recognized, With related allowance	17	14
Recreation [Member]
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment, With related allowance	6,872		9,655
Unpaid principal balance, With related allowance	6,872		9,655
Related Allowance, With related allowance	302		416
Average Investment Recorded, With related allowance	6,721	4,656
Interest Income (Expense) Recognized, With related allowance	16	13
Home Improvement [Member]
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment, With related allowance	1,359		1,493
Unpaid principal balance, With related allowance	1,359		1,493
Related Allowance, With related allowance	32		41
Average Investment Recorded, With related allowance	1,363	441
Interest Income (Expense) Recognized, With related allowance	1	1
Commercial [Member]
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment, With related allowance	10,090		11,163
Unpaid principal balance, With related allowance	10,243		11,301
Related Allowance, With related allowance	2,320		1,897
Average Investment Recorded, With related allowance	10,243	5,652
Interest Income (Expense) Recognized, With related allowance	0	0
Taxi Medallion [Member]
Financing Receivable, Recorded Investment [Line Items]
Recorded Investment, With related allowance	3,560		3,663
Unpaid principal balance, With related allowance	4,223		4,347
Related Allowance, With related allowance	1,502		$ 1,536
Average Investment Recorded, With related allowance	4,254	6,093
Interest Income (Expense) Recognized, With related allowance	$ 0	$ 0

Loans and Allowance for Cred_12

Loans and Allowance for Credit Losses - Summary of Aging of Loans (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	$ 70,517	$ 81,013
Total	2,188,640	2,176,412
Accruing	0	0
Financial Asset, Not Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	2,118,123	2,095,399
30-59 [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	40,700	44,419
60-89 [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	13,685	19,757
90+ [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	16,132	16,837
Recreation [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	55,484	64,416
Total	1,320,794	1,292,591
Accruing	0	0
Recreation [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	1,265,310	1,228,175
Recreation [Member] | 30-59 [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	37,205	40,282
Recreation [Member] | 60-89 [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	11,905	15,039
Recreation [Member] | 90+ [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	6,374	9,095
Home Improvement [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	6,537	8,000
Total	755,831	764,069
Accruing	0	0
Home Improvement [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	749,294	756,069
Home Improvement [Member] | 30-59 [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	3,495	3,936
Home Improvement [Member] | 60-89 [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	1,680	2,562
Home Improvement [Member] | 90+ [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	1,362	1,502
Commercial Loans [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	8,396	8,396
Total	107,586	115,536
Accruing	0	0
Commercial Loans [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	99,190	107,140
Commercial Loans [Member] | 30-59 [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	0	0
Commercial Loans [Member] | 60-89 [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	0	2,156
Commercial Loans [Member] | 90+ [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	8,396	6,240
Taxi Medallion [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	100	201
Total	3,560	3,663
Accruing	0	0
Taxi Medallion [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	3,460	3,462
Taxi Medallion [Member] | 30-59 [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	0	201
Taxi Medallion [Member] | 60-89 [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	100	0
Taxi Medallion [Member] | 90+ [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	0	0
Strategic Partnership [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	0	0
Total	869	553
Accruing	0	0
Strategic Partnership [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	869	553
Strategic Partnership [Member] | 30-59 [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	0	0
Strategic Partnership [Member] | 60-89 [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	0	0
Strategic Partnership [Member] | 90+ [Member]
Financing Receivable Recorded Investment Past Due [Line Items]
Past Due	$ 0	$ 0

Loans and Allowance for Cred_13

Loans and Allowance for Credit Losses - Summary of Aging of Loans (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Receivables [Abstract]
Capitalized loan origination costs	$ 40.7	$ 40

Loans and Allowance for Cred_14

Loans and Allowance for Credit Losses - Additional Information (Detail)	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable Recorded Investment Past Due [Line Items]
Weighted average loan-to-value ratio	188%	183%

Loans and Allowance for Cred_15

Loans and Allowance for Credit Losses - Summary of Activities of the Loan Collateral in Process of Foreclosure Related to Recreation and Medallion Loans (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024		Mar. 31, 2023
Loans and Leases Receivable Disclosure [Line Items]
Loans collateral in process of foreclosure - beginning balance	$ 11,772	[1]	$ 21,819
Transfer from loans, net	5,425		6,504
Sales	(39)		(2,210)
Cash payments received	(3,720)		(3,317)
Collateral valuation adjustments	(3,240)		(2,329)
Loans collateral in process of foreclosure - ending balance	10,198	[1]	20,467
Recreation [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans collateral in process of foreclosure - beginning balance	1,779		1,376
Transfer from loans, net	5,425		4,357
Sales	0		(2,195)
Cash payments received	(2,447)		0
Collateral valuation adjustments	(3,282)		(2,077)
Loans collateral in process of foreclosure - ending balance	1,475		1,461
Taxi Medallion [Member]
Loans and Leases Receivable Disclosure [Line Items]
Loans collateral in process of foreclosure - beginning balance	9,993		20,443
Transfer from loans, net	0		2,147
Sales	(39)		(15)
Cash payments received	(1,273)		(3,317)
Collateral valuation adjustments	42		(252)
Loans collateral in process of foreclosure - ending balance	$ 8,723		$ 19,006
[1] Includes financed sales of this collateral to third parties that are reported separately from the loan portfolio, of $ 5.8 million as of March 31, 2024 and $ 6.2 million as of December 31, 2023 .

Funds Borrowed - Schedule of Ou

Funds Borrowed - Schedule of Outstanding Balances of Funds Borrowed (Detail) - USD ($) $ in Thousands		Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
2025		$ 753,655
2026		526,332
2027		354,570
2028		211,550
2029		214,739
Thereafter		83,250
Long term debt	[1]	$ 2,144,096	$ 2,117,189
Interest Rate	[2]	3.59%
Deposits [Member]
Debt Instrument [Line Items]
2025	[3]	$ 721,155
2026	[3]	479,582
2027	[3]	350,070
2028	[3]	157,800
2029	[3]	173,239
Thereafter	[3]	0
Long term debt	[1],[3]	$ 1,881,846	1,869,439
Interest Rate	[2],[3]	3.17%
Retail And Privately Placed Notes [Member]
Debt Instrument [Line Items]
2025		$ 0
2026		31,250
2027		0
2028		53,750
2029		39,000
Thereafter		12,500
Long term debt	[1]	$ 136,500	139,500
Interest Rate	[2]	8.08%
SBA debentures and borrowings
Debt Instrument [Line Items]
2025		$ 12,500
2026		15,500
2027		4,500
2028		0
2029		2,500
Thereafter		37,750
Long term debt	[1]	$ 72,750	75,250
Interest Rate	[2]	3.54%
Trust Preferred Securities [Member]
Debt Instrument [Line Items]
2025		$ 0
2026		0
2027		0
2028		0
2029		0
Thereafter		33,000
Long term debt	[1]	$ 33,000	33,000
Interest Rate	[2]	7.71%
Federal Reserve and Other Borrowings [Member]
Debt Instrument [Line Items]
2025		$ 20,000
2026		0
2027		0
2028		0
2029		0
Thereafter		0
Long term debt	[1]	$ 20,000	$ 0
Interest Rate	[2]	5.95%
[1] Excludes deferred financing costs of $ 8.5 million as of both March 31, 2024 and December 31, 2023 . Weighted average contractual rate as of March 31, 2024 . Balance excludes $ 1.5 million of strategic partner reserve deposits as of both March 31, 2024 and December 31, 2023 .

Funds Borrowed - Schedule of _2

Funds Borrowed - Schedule of Outstanding Balances of Funds Borrowed (Parenthetical) (Detail) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Debt Disclosure [Abstract]
Deferred costs	$ 8.5	$ 8.5
Reserve deposits	$ 1.5	$ 1.5

Funds Borrowed - Additional Inf

Funds Borrowed - Additional Information (Detail) - USD ($) $ in Thousands

1 Months Ended

3 Months Ended

12 Months Ended

Feb. 28, 2024

Sep. 30, 2023

Jul. 10, 2023

Feb. 28, 2021

Dec. 31, 2007

Jun. 30, 2007

Jan. 31, 2024

Dec. 31, 2020

Mar. 31, 2024

Mar. 31, 2023

Dec. 31, 2023

Dec. 31, 2019

Apr. 30, 2021

Mar. 15, 2021

Aug. 31, 2019

Mar. 31, 2019

Dec. 31, 2017

Mar. 01, 2017

Debt Instrument [Line Items]

Time deposits

$ 1,883,346

Listing services deposits from other financial institutions.

12,100

$ 11,800

Retail savings deposit balance

12,400

$ 14,900

Aggregate principal amount

$ 6,000

Maturity date

Sep. 30, 2028

Feb. 28, 2026

Dec. 21, 2033

Principal amount outstanding repaid

3,000

Gain loss on sales of loans net

$ 588

$ 1,855

Issue of common stock

29,243,878

29,051,800

Preferred securities repurchased from a third party investor

$ 2,000

Long-term debt

[1]

$ 225,558

$ 235,544

Investment securities pledged

53,038

54,282

Medallion Capital, Inc.

Debt Instrument [Line Items]

Debt instrument face amount

$ 18,500

$ 20,000

Long-term debt

18,500

2,200

Debt instrument leverage fee

200

200

Debt instrument, additional leverage fee

400

$ 400

Line Of Credit Facility Drawn Amount

9,800

Line Of Credit Facility Drawable Amount

8,000

Long term debt under capital infusion

$ 9,300

$ 1,100

Trust Preferred Securities [Member]

Debt Instrument [Line Items]

Maturity date

Sep. 30, 2037

Sale of preferred securities

$ 35,000

Issue of common stock

1,083

Preferred securities outstanding

$ 33,000

Trust Preferred Securities [Member] | SOFR Rate [Member]

Debt Instrument [Line Items]

Basis spread on variable rate

2.13%

Description of variable rate basis

26 basis points

Trust Preferred Securities [Member] | Unsecured Debt [Member]

Debt Instrument [Line Items]

Aggregate principal amount of unsecured junior subordinated notes

$ 36,100

SBA debentures and borrowings

Debt Instrument [Line Items]

Debt instrument interest rate Percentage

3.25%

Loan commitment term

4 years 6 months

Commitment fee percentage

1%

Principal amount of loan

$ 34,000

$ 34,000

Extended maturity date

Apr. 30, 2024

Freshstart Venture Capital Corp [Member]

Debt Instrument [Line Items]

Principal amount of loan

$ 33,500

Other Borrowings [Member]

Debt Instrument [Line Items]

Borrowings

$ 20,000

Line of credit facility, amount outstanding

0

Federal reserve discount window and other borrowings [Member]

Debt Instrument [Line Items]

Borrowings

0

Investment securities pledged

$ 36,900

Pledged securities advance rate of fair value

100%

Borrowing capacity

$ 36,900

Commercial Banks [Member]

Debt Instrument [Line Items]

Borrowing capacity

$ 75,000

7.25% Unsecured Senior Notes Due February Two Thousand And Twenty Six [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 3,000

$ 3,300

7.50% Percentage Unsecured Senior Notes Due December Two Thousand And Twenty Seven [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 11,700

Privately Placed Notes [Member]

Debt Instrument [Line Items]

Aggregate principal amount

$ 39,000

$ 25,000

$ 33,600

$ 12,500

$ 8,500

$ 30,000

Debt instrument interest rate Percentage

9.25%

7.25%

7.50%

9%

8.25%

Maturity date

2024

2024

Maturity date

Dec. 31, 2027

Repurchase amount

$ 33,000

$ 33,000

Gain loss on sales of loans net

$ 4,100

Revolving Credit Facility [Member] | Other Borrowings [Member]

Debt Instrument [Line Items]

Debt instrument interest rate Percentage

2.75%

Commitment fee percentage

0.10%

Borrowing capacity

$ 7,500

Minimum [Member]

Debt Instrument [Line Items]

Time deposits

$ 250,000

Brokerage [Member] | Maximum [Member]

Debt Instrument [Line Items]

Average brokerage fee percentage in relation to the maturity of deposits

0.15%

[1] Includes $ 4.2 million of deferred financing costs as of both March 31, 2024 and December 31, 2023 . Refer to Note 5 for more details.

Funds Borrowed - Summary of Mat

Funds Borrowed - Summary of Maturity of Broker Pools, Excluding Strategic Partner Reserve Deposits (Detail) $ in Thousands	Mar. 31, 2024 USD ($)
Debt Disclosure [Abstract]
Three months or less	$ 202,913
Over three months through six months	186,507
Over six months through one year	331,735
Over one year	1,160,691
Deposits	1,881,846
Strategic partner collateral deposits	1,500
Total deposits	$ 1,883,346

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Costs and Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Operating lease costs	$ 604	$ 597
Operating cash flows from operating leases	657	623
Right-of-use asset obtained in exchange for lease liability	$ (59)	$ (56)

Leases - Schedule of Breakout o

Leases - Schedule of Breakout of Operating Leases (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property Equipment And Right Of Use Asset Net	Property Equipment And Right Of Use Asset Net
Operating lease right-of-use assets	$ 8,327	$ 8,785
Other current liabilities	$ 2,255	$ 2,472
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Operating lease liabilities	Operating lease liabilities
Operating lease liabilities	$ 6,710	$ 7,019
Total operating lease liabilities	$ 8,965	$ 9,491
Weighted average remaining lease term	4 years 4 months 24 days	4 years 10 months 24 days
Weighted average discount rate	5.56%	5.47%

Leases - Schedule of Maturities

Leases - Schedule of Maturities of the Lease Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Remainder of 2024	$ 1,903
2025	2,546
2026	2,567
2027	1,342
2028	573
Thereafter	1,139
Total lease payments	10,070
Less imputed interest	1,105
Total operating lease liabilities	$ 8,965	$ 9,491

Income Taxes - Summary of Compo

Income Taxes - Summary of Components of Deferred and Other Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands		Mar. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Goodwill and other intangibles		$ 42,943	$ 43,034
Provision for credit losses		(12,005)	(13,032)
Net operating loss carryforwards	[1]	(3,803)	(3,802)
Accrued expenses, compensation, and other assets		(4,794)	(6,976)
Unrealized gains on other investments		(868)	(1,877)
Total deferred tax liability		21,473	17,347
Valuation allowance		3,373	3,860
Deferred tax liability, net		$ 24,846	$ 21,207
[1] As of March 31, 2024 , the Company had an estimated $ 11.1 million of net operating loss carryforwards, $ 1.7 million of which expires at various dates between December 31, 2026 and December 31, 2035 , which had a net carrying value of $ 1.2 million as of March 31, 2024 .

Income Taxes - Summary of Com_2

Income Taxes - Summary of Components of Deferred and Other Tax Assets and Liabilities (Parenthetical) (Detail) - Medallion Chicago [Member] $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Income Tax Rate Reconciliation [Line Items]
Net operating loss carryforwards	$ 11.1
Net operating loss carryforwards expiration period	expires at various dates between December 31, 2026 and December 31, 2035
Net operating loss carryforwards assets	$ 1.2
December 31, 2026 To December 31, 2035 [Member]
Income Tax Rate Reconciliation [Line Items]
Net operating loss carryforwards	$ 1.7

Income Taxes - Summary of Com_3

Income Taxes - Summary of Components of Tax Provision (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Current
Federal	$ 1,729	$ 2,583
State	643	789
Deferred
Federal	3,116	2,246
State	870	764
Total income tax provision	$ 6,358	$ 6,382

Income Taxes - Summary of Recon

Income Taxes - Summary of Reconciliation of Statutory Federal Income Tax Provision to Consolidated Actual Income Tax Provision (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Statutory Federal income tax provision at 21%	$ 3,758	$ 4,884
State and local income taxes, net of federal income tax benefit	735	955
Non-deductible expenses	1,780	1,058
Other	85	(515)
Total income tax provision	$ 6,358	$ 6,382

Income Taxes - Summary of Rec_2

Income Taxes - Summary of Reconciliation of Statutory Federal Income Tax Provision to Consolidated Actual Income Tax Provision (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Statutory Federal income tax provision percentage	21%	21%

Stock Options and Restricted _3

Stock Options and Restricted Stock - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended			12 Months Ended
		Jun. 15, 2018	Mar. 31, 2024		Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Feb. 29, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock option outstanding			946,054	[1]		959,522	1,061,849
Stock option exercisable			857,609	[1]		697,647
Unvested shares of common stock outstanding			88,445			261,875
Number of shares vested and settled			162,615
Intrinsic value of options vested			$ 0.4
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares outstanding			248,507
Number of shares outstanding, vested restricted stock units			162,615
Restricted Stock Units [Member] | Vest on June 22, 2024 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, granted			0			83,158
Weighted average grant price, granted			$ 9.14
Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares outstanding			889,361	[2]		995,376	857,288
Number of shares vested and settled	[3]		400,985			248,898
Weighted average fair value of options granted			$ 0		$ 0
Number of shares, granted			296,178		304,749	399,793
Weighted average grant price, granted			$ 8.97			$ 8.34
PSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, granted			215,687			296,444
Weighted average grant price, granted			$ 8.97			$ 6.08
Unvested Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares outstanding, performance stock units			512,131
Maximum [Member] | PSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage						200%
Minimum [Member] | PSU [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rights, percentage						0%
2018 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant			5,710,968
Shares were rolled into the 2018 Plan			1,485,522
2018 Equity Incentive Plan [Member] | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares outstanding			85,892
2018 Restricted Stock Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested shares of common stock outstanding			889,361
2015 Director Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant		258,334						300,000
2015 Director Plan [Member] | Non Employee Director One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant		12,000
2015 Director Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		10 years
Amended Director Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant								200,000
Number of additional shares available for issuance			0
Amended Director Plan [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant			9,000
Amended Director Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		10 years
[1] The aggregate intrinsic value of outstanding options, which represents the difference between the price of the Company’s common stock at March 31, 2024 and the related exercise price of the underlying options, was $ 1.3 million for outstanding options and $ 1.2 million for vested options as of March 31, 2024. The remaining contractual life was 5.9 years for outstanding options and 5.8 years for vested options at March 31, 2024 The aggregate fair value of the restricted stock was $ 7.0 million as of March 31, 2024 . The remaining vesting period was 2.9 years at March 31, 2024 . The aggregate fair value of the restricted stock vested was $ 2.7 million for the three months ended March 31, 2024 and $ 2.1 million for the year ended December 31, 2023 .

Stock Options and Restricted _4

Stock Options and Restricted Stock - Summary of Activity for Stock Option Programs (Detail) - $ / shares		3 Months Ended		12 Months Ended
		Mar. 31, 2024		Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options beginning balance		959,522		1,061,849
Granted		0		0
Cancelled		(85)		(33,382)
Exercised	[1]	(13,383)		(68,945)
Number of options ending balance		946,054	[2]	959,522
Options exercisable		857,609	[2]	697,647
Exercise price per share, lower range limit beginning balance		$ 2.14		$ 2.14
Exercise price per share, upper range limit beginning balance		9.38		9.38
Exercise price per share, granted		0		0
Exercise price per share, lower range limit ending balance		2.14	[2]	2.14
Exercise price per share, upper range limit ending balance		9.38	[2]	9.38
Exercise price per share, option exercisable lower range limit		2.14	[2]	2.14
Exercise price per share, option exercisable upper range limit		9.38	[2]	9.38
Weighted average exercise price, beginning balance		6.51		6.51
Weighted average exercise price, granted		0		0
Weighted average exercise price, cancelled		4.89		6.8
Weighted average exercise price, exercised	[1]	6.61		6.44
Weighted average exercise price, ending balance		6.51	[2]	6.51
Weighted average exercise price, options exercisable		6.52	[2]	6.51
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price per share, cancelled				4.89
Exercise price per share, exercised	[1]	4.89		4.89
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise price per share, cancelled		4.89		9.38
Exercise price per share, exercised	[1]	$ 7.25		$ 7.25
[1] The aggregate intrinsic value of exercised options, which represents the difference between the price of the Company’s common stock at the exercise date and the related exercise price of the underlying options, was less than $ 0.1 million for the three months ended March 31, 2024 and was $ 0.1 million for the year ended December 31, 2023 . The aggregate intrinsic value of outstanding options, which represents the difference between the price of the Company’s common stock at March 31, 2024 and the related exercise price of the underlying options, was $ 1.3 million for outstanding options and $ 1.2 million for vested options as of March 31, 2024. The remaining contractual life was 5.9 years for outstanding options and 5.8 years for vested options at March 31, 2024

Stock Options and Restricted _5

Stock Options and Restricted Stock - Summary of Activity for Stock Option Programs (Parenthetical) (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Aggregate intrinsic value for option exercised		$ 0.1
Aggregate intrinsic value of option outstanding	$ 1.3
Aggregate intrinsic value of option vested	$ 1.2
Remaining contractual life of option outstanding	5 years 10 months 24 days
Remaining contractual life of option vested	5 years 9 months 18 days
Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Aggregate intrinsic value for option exercised	$ 0.1

Stock Options and Restricted _6

Stock Options and Restricted Stock - Summary of Activity for Unvested Options Outstanding (Detail) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Nonvested, Number of Shares [Roll Forward]
Number of options beginning balance	261,875
Number of options, granted	0	0
Number of options, vested	(173,430)
Number of options ending balance	88,445	261,875
Exercise price per share beginning balance, Lower limit	$ 4.89
Exercise price per share beginning balance, Upper limit	7.25
Exercise price per share, Vested, Lower limit	4.89
Exercise price per share, Vested, Upper limit	7.25
Exercise price per share ending balance, Lower limit	4.89	$ 4.89
Exercise price per share ending balance, Upper limit	7.25	7.25
Weighted average exercise price	6.49
Weighted average exercise price, vested	6.56
Weighted average exercise price	$ 6.37	$ 6.49

Stock Options and Restricted _7

Stock Options and Restricted Stock - Summary of Activity for Restricted Stock Programs (Detail) - $ / shares		3 Months Ended			12 Months Ended
		Mar. 31, 2024		Mar. 31, 2023	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, vested		(162,615)
Grant price per share, cancelled, lower limit		$ 4.89
Grant price per share, cancelled, upper limit		$ 7.25
Restricted Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares, beginning balance		995,376		857,288	857,288
Number of shares, granted		296,178		304,749	399,793
Number of shares, cancelled		(1,208)			(12,807)
Number of shares, vested	[1]	(400,985)			(248,898)
Number of shares, ending balance		889,361	[2]		995,376
Grant price per share, lower range limit beginning balance		$ 4.89		$ 4.89	$ 4.89
Grant price per share, upper range limit beginning balance		9.37		7.25	7.25
Grant price per share, granted, lower limit					7.67
Grant price per share, granted, upper limit		8.97			9.37
Grant price per share, cancelled, lower limit		6.86			4.89
Grant price per share, cancelled, upper limit		9.37			8.4
Grant price per share, vested, lower limit	[1]	4.89			4.89
Grant price per share, vested, upper limit	[1]	8.4			7.68
Grant price per share, lower range limit ending balance		4.89	[2]		4.89
Grant price per share, upper range limit ending balance		9.37	[2]		9.37
Weighted average grant price beginning balance		7.74		$ 7.27	7.27
Weighted average grant price, granted		8.97			8.34
Weighted average grant price, cancelled		8.13			7.24
Weighted average grant price, vested	[1]	7.69			7.1
Weighted average grant price, ending balance		$ 8.18	[2]		$ 7.74
[1] The aggregate fair value of the restricted stock vested was $ 2.7 million for the three months ended March 31, 2024 and $ 2.1 million for the year ended December 31, 2023 . The aggregate fair value of the restricted stock was $ 7.0 million as of March 31, 2024 . The remaining vesting period was 2.9 years at March 31, 2024 .

Stock Options and Restricted _8

Stock Options and Restricted Stock - Summary of Activity for Restricted Stock Programs (Parenthetical) (Detail) - Restricted Shares [Member] - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate fair value of restricted stock vested	$ 2.7	$ 2.1
Aggregate fair value of restricted stock outstanding	$ 7
Remaining vesting period of restricted stock	2 years 10 months 24 days

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2024 Segment
Segment Reporting Disclosure [Line Items]
Number of business segments	5
Number of operating segments	4
Number of non-operating segments	1
Roofs [Member]
Segment Reporting Disclosure [Line Items]
Loan outstanding percent	40%
Swimming Pools [Member]
Segment Reporting Disclosure [Line Items]
Loan outstanding percent	20%
Windows [Member]
Segment Reporting Disclosure [Line Items]
Loan outstanding percent	13%
Other Product Lines [Member]
Segment Reporting Disclosure [Line Items]
Loan outstanding percent	10%
Texas [Member]
Segment Reporting Disclosure [Line Items]
Loan outstanding percent	16%
Texas [Member] | Home Improvement [Member]
Segment Reporting Disclosure [Line Items]
Loan outstanding percent	10%
Florida [Member]
Segment Reporting Disclosure [Line Items]
Loan outstanding percent	10%
Florida [Member] | Home Improvement [Member]
Segment Reporting Disclosure [Line Items]
Loan outstanding percent	10%
Other States [Member]
Segment Reporting Disclosure [Line Items]
Loan outstanding percent	10%
Other States [Member] | Home Improvement [Member]
Segment Reporting Disclosure [Line Items]
Loan outstanding percent	10%
Geographic Concentration Risk [Member] | Sales Revenue Net [Member] | Recreational Vehicles [Member]
Segment Reporting Disclosure [Line Items]
Aggregate percentage of loans lending	54%
Geographic Concentration Risk [Member] | Sales Revenue Net [Member] | Boats [Member]
Segment Reporting Disclosure [Line Items]
Aggregate percentage of loans lending	19%
Geographic Concentration Risk [Member] | Sales Revenue Net [Member] | Automobile [Member]
Segment Reporting Disclosure [Line Items]
Aggregate percentage of loans lending	10%
Geographic Concentration Risk [Member] | Sales Revenue Net [Member] | Other Product Lines [Member]
Segment Reporting Disclosure [Line Items]
Aggregate percentage of loans lending	10%
Commercial Lending Segment | Manufacturing [Member]
Segment Reporting Disclosure [Line Items]
Loan outstanding percent	53%
Commercial Lending Segment | Construction [Member]
Segment Reporting Disclosure [Line Items]
Loan outstanding percent	14%
Commercial Lending Segment | Wholesale Trade [Member]
Segment Reporting Disclosure [Line Items]
Loan outstanding percent	12%
Commercial Lending Segment | Other Product Lines [Member]
Segment Reporting Disclosure [Line Items]
Loan outstanding percent	10%
Commercial Lending Segment | California [Member]
Segment Reporting Disclosure [Line Items]
Loan outstanding percent	30%
Commercial Lending Segment | Wisconsin [Member]
Segment Reporting Disclosure [Line Items]
Loan outstanding percent	11%
Commercial Lending Segment | Texas [Member]
Segment Reporting Disclosure [Line Items]
Loan outstanding percent	10%
Commercial Lending Segment | Geographic Concentration Risk [Member] | Sales Revenue Net [Member] | Other Product Lines [Member]
Segment Reporting Disclosure [Line Items]
Aggregate percentage of loans lending	10%

Segment Reporting - Schedule of

Segment Reporting - Schedule of Segment Data (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024		Mar. 31, 2023		Dec. 31, 2023
Segment Reporting Disclosure [Line Items]
Total interest income	$ 67,070		$ 55,843
Total interest expense	19,153		12,240
Net interest income (loss)	47,917		43,603
Provision (benefit) for credit losses	17,201		4,038
Net interest income (loss) after loss provision	30,716		39,565
Other income	5,403		2,083
Other expenses	(18,225)		(18,393)
Net income (loss) before taxes	17,894		23,255
Income tax (provision) benefit	(6,358)		(6,382)
Net income (loss) after taxes	11,536		16,873
Income attributable to the non-controlling interest	1,512		1,512
Total net income attributable to Medallion Financial Corp.	10,024		15,361
Balance Sheet Data
Total loans	2,144,599				$ 2,131,651
Loans	2,228,426		1,984,180		2,215,886
Total assets	2,618,762		2,351,670		$ 2,587,827
Total funds borrowed	$ 2,145,596		$ 1,916,390
Selected Financial Ratios
Return on average assets	1.80%		2.99%
Return on average stockholders' equity	11.65%		20.72%
Return on average equity	11.18%		18.50%
Interest yield	11.34%		10.78%
Net interest margin, gross	8.10%		8.42%
Net interest margin, net of allowance	8.39%		8.71%
Reserve coverage	3.76%		3.54%
Delinquency status	0.74%	[1]	0.24%	[2]
Charge-off (recovery) ratio	3.20%	[3]	2.35%	[4]
Operating Segments [Member] | Consumer Lending [Member] | Recreation [Member]
Segment Reporting Disclosure [Line Items]
Total interest income	$ 43,927		$ 37,899
Total interest expense	9,645		5,904
Net interest income (loss)	34,282		31,995
Provision (benefit) for credit losses	17,030		7,751
Net interest income (loss) after loss provision	17,252		24,244
Other income	250		0
Other expenses	(8,287)		(7,803)
Net income (loss) before taxes	9,215		16,441
Income tax (provision) benefit	(3,274)		(4,513)
Net income (loss) after taxes	5,941		11,928
Balance Sheet Data
Total loans	1,365,165		1,213,380
Total assets	1,322,761		1,179,965
Total funds borrowed	$ 1,083,760		$ 961,561
Selected Financial Ratios
Return on average assets	1.82%		4.14%
Return on average equity	11.44%		25.63%
Interest yield	13.17%		12.87%
Net interest margin, gross	10.28%		10.86%
Net interest margin, net of allowance	10.75%		11.33%
Reserve coverage	4.40%		4.12%
Delinquency status	0.48%	[1]	0.36%	[2]
Charge-off (recovery) ratio	4.36%	[3]	3.48%	[4]
Operating Segments [Member] | Consumer Lending [Member] | Home Improvement [Member]
Segment Reporting Disclosure [Line Items]
Total interest income	$ 17,447		$ 13,649
Total interest expense	5,634		3,279
Net interest income (loss)	11,813		10,370
Provision (benefit) for credit losses	898		3,081
Net interest income (loss) after loss provision	10,915		7,289
Other income	2		1
Other expenses	(4,114)		(3,994)
Net income (loss) before taxes	6,803		3,296
Income tax (provision) benefit	(2,417)		(905)
Net income (loss) after taxes	4,386		2,391
Balance Sheet Data
Total loans	752,262		669,642
Total assets	738,551		660,846
Total funds borrowed	$ 605,107		$ 538,527
Selected Financial Ratios
Return on average assets	2.38%		1.52%
Return on average equity	14.93%		9.37%
Interest yield	9.28%		8.54%
Net interest margin, gross	6.28%		6.49%
Net interest margin, net of allowance	6.45%		6.62%
Reserve coverage	2.38%		2.19%
Delinquency status	0.18%	[1]	0.07%	[2]
Charge-off (recovery) ratio	2.12%	[3]	0.82%	[4]
Operating Segments [Member] | Commercial Lending [Member]
Segment Reporting Disclosure [Line Items]
Total interest income	$ 3,645		$ 2,701
Total interest expense	1,098		809
Net interest income (loss)	2,547		1,892
Provision (benefit) for credit losses	216		327
Net interest income (loss) after loss provision	2,331		1,565
Other income	4,202		271
Other expenses	(985)		(420)
Net income (loss) before taxes	5,548		1,416
Income tax (provision) benefit	(1,971)		(389)
Net income (loss) after taxes	3,577		1,027
Balance Sheet Data
Total loans	106,570		95,329
Total assets	102,331		101,392
Total funds borrowed	$ 83,842		$ 82,625
Selected Financial Ratios
Return on average assets	13.50%		4.11%
Return on average equity	84.71%		25.39%
Interest yield	12.99%		11.53%
Net interest margin, gross	9.08%		8.08%
Net interest margin, net of allowance	9.43%		8.32%
Reserve coverage	4.11%		3.71%
Delinquency status	7.80%	[1]	0.08%	[2]
Charge-off (recovery) ratio	(0.07%)	[3]	(0.16%)	[4]
Operating Segments [Member] | Taxi Medallion Lending [Member]
Segment Reporting Disclosure [Line Items]
Total interest income	$ 140		$ 310
Total interest expense	28		67
Net interest income (loss)	112		243
Provision (benefit) for credit losses	(944)		(7,084)
Net interest income (loss) after loss provision	1,056		7,327
Other income	639		1,620
Other expenses	(743)		(2,027)
Net income (loss) before taxes	952		6,920
Income tax (provision) benefit	(338)		(1,899)
Net income (loss) after taxes	614		5,021
Balance Sheet Data
Total loans	3,560		4,059
Total assets	8,611		20,335
Total funds borrowed	$ 7,055		$ 16,571
Selected Financial Ratios
Return on average assets	23.68%		90.53%
Return on average equity	148.65%		558.90%
Interest yield	15.59%		11.78%
Net interest margin, gross	12.47%		9.23%
Net interest margin, net of allowance	21.57%		28.89%
Reserve coverage	42.19%		53.07%
Delinquency status	0%	[1]	0%	[2]
Charge-off (recovery) ratio	(101.47%)	[3]	29.84%	[4]
Intersegment Eliminations [Member]
Segment Reporting Disclosure [Line Items]
Total interest income	$ 1,911		$ 1,284
Total interest expense	2,748		2,181
Net interest income (loss)	(837)		(897)
Provision (benefit) for credit losses	1		(37)
Net interest income (loss) after loss provision	(838)		(860)
Other income	310		191
Other expenses	(4,096)		(4,149)
Net income (loss) before taxes	(4,624)		(4,818)
Income tax (provision) benefit	1,642		1,324
Net income (loss) after taxes	(2,982)		(3,494)
Balance Sheet Data
Total loans	869		1,770
Total assets	446,508		389,132
Total funds borrowed	$ 365,832		$ 317,106
Selected Financial Ratios
Return on average assets	(2.78%)		(3.79%)
Return on average equity	(17.47%)		(23.42%)
[1] Loans 90 days or more past due. Loans 90 days or more past due. Negative balances indicate net recoveries for the period. (NM) Not meaningful. Negative balances indicate net recoveries for the period. (NM) Not meaningful.

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2024 USD ($)
Commitments And Contingencies [Abstract]
Employment agreements expiration description	employment agreements expire at various dates through 2027
Future minimum payments	$ 9,900,000
Other commitment	$ 0

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) - Senior Vice President [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Related Party Transaction [Line Items]
Salary from related party	$ 260,988	$ 250,950
Annual cash bonus	95,000	85,000
Equity bonus	$ 52,000	$ 50,000

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Summary of Carrying Values and Fair Values of Financial Instruments (Detail) - USD ($) $ in Thousands		Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023
Financial assets
Equity investments		$ 16,374	$ 11,430
Investment securities		53,038	54,282
Loans receivable		2,228,426	2,215,886	$ 1,984,180
Equity securities, fair value		1,700	1,700
Carrying Amount [Member]
Financial assets
Cash, cash equivalents, and federal funds sold	[1]	169,125	149,845
Equity investments		16,374	11,430
Investment securities		53,038	54,282
Loans receivable		2,144,599	2,131,651
Accrued interest receivable	[2]	12,673	13,538
Equity securities, fair value	[3]	1,730	1,748
Financial liabilities
Funds borrowed		2,145,596	2,118,689
Accrued interest payable	[2]	6,077	6,822
Fair Value Recurring [Member]
Financial assets
Cash, cash equivalents, and federal funds sold	[1]	169,125	149,845
Equity investments		16,374	11,430
Investment securities		53,038	54,282
Loans receivable		2,144,599	2,131,651
Accrued interest receivable	[2]	12,673	13,538
Equity securities, fair value	[3]	1,730	1,748
Financial liabilities
Funds borrowed		2,145,596	2,118,689
Accrued interest payable	[2]	$ 6,077	$ 6,822
[1] Categorized as level 1 within the fair value hierarchy, excluding $ 1.3 million in interest bearing deposits categorized as level 2 as of March 31, 2024 and $ 1.3 million as of December 31, 2023 . See Note 13. Categorized as level 3 within the fair value hierarchy. See Note 13. Included within other assets on the balance sheet.

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Summary of Carrying Values and Fair Values of Financial Instruments (Parenthetical) (Detail) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest-bearing funds deposited in other banks	$ 1,300
Fair Value Recurring [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest-bearing funds deposited in other banks	1,250	$ 1,250
Fair Value Recurring [Member] | Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Interest-bearing funds deposited in other banks	$ 1,250	$ 1,250

Fair Value of Assets and Liab_3

Fair Value of Assets and Liabilities - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands		Mar. 31, 2024		Dec. 31, 2023
Assets
Interest-bearing deposits		$ 1,300
Equity securities, fair value		1,700		$ 1,700
Fair Value Recurring [Member]
Assets
Interest-bearing deposits		1,250		1,250
Investment securities		53,038		54,282
Equity securities, fair value	[1]	1,730		1,748
Total		56,018	[2]	57,280	[3]
Fair Value Recurring [Member] | Level 1 [Member]
Assets
Equity securities, fair value		1,730		1,748
Total		1,730	[2]	1,748	[3]
Fair Value Recurring [Member] | Level 2 [Member]
Assets
Interest-bearing deposits		1,250		1,250
Investment securities		53,038		54,282
Total		$ 54,288	[2]	$ 55,532	[3]
[1] Included within other assets on the balance sheet. Total unrealized losses of $ 0.2 million , net of tax, was included in other comprehensive income for the three months ended March 31, 2024 related to these assets. Total unrealized losses of $ 0.3 million, net of tax, was included in other comprehensive loss for the year ended December 31, 2023 related to these assets .

Fair Value of Assets and Liab_4

Fair Value of Assets and Liabilities - Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Net change in unrealized gains (losses) on investments, net of tax	$ (150)	$ 506	$ (300)
AOCI Attributable to Parent [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Net change in unrealized gains (losses) on investments, net of tax	$ (150)	$ 506

Fair Value of Assets and Liab_5

Fair Value of Assets and Liabilities - Summary of Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2024		Dec. 31, 2023		Mar. 31, 2023	Dec. 31, 2022
Assets
Equity investments	$ 1,700		$ 1,700
Impaired loans	14,000		14,000
Loan collateral in process of foreclosure	10,198	[1]	11,772	[1]	$ 20,467	$ 21,819
Fair Value, Nonrecurring
Assets
Equity investments	16,374		11,430
Impaired loans	21,881		25,974
Loan collateral in process of foreclosure	10,198		11,772
Total	48,453		49,176
Fair Value, Nonrecurring | Level 3 [Member]
Assets
Equity investments	16,374		11,430
Impaired loans	21,881		25,974
Loan collateral in process of foreclosure	10,198		11,772
Total	$ 48,453		$ 49,176
[1] Includes financed sales of this collateral to third parties that are reported separately from the loan portfolio, of $ 5.8 million as of March 31, 2024 and $ 6.2 million as of December 31, 2023 .

Fair Value of Assets and Liab_6

Fair Value of Assets and Liabilities - Summary of Valuation Techniques and Significant Unobservable Inputs Used in Non-Recurring Level 3 Fair Value Measurements of Assets and Liabilities (Detail)	3 Months Ended		12 Months Ended
	Mar. 31, 2024 USD ($) $ / shares		Dec. 31, 2023 USD ($) $ / shares		Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments	$ 1,700,000		$ 1,700,000
Principal portion of loans serviced, fair value	14,000,000		14,000,000
Loan collateral in process of foreclosure	$ 10,198,000	[1]	$ 11,772,000	[1]	$ 20,467,000	$ 21,819,000
Equity Investments [Member] | Precedent Market Transactions [Member] | Equity Method Offering Price [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity Value | $ / shares	$ 8.73		$ 8.73
Equity Investments [Member] | Precedent Market Transactions [Member] | Equity Method Sale Price [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Sale price	$ 5,084,000
Impaired Loans [Member] | Market Approach [Member] | Historical and Actual Loss Experience [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired loans value	0		0
Impaired Loans [Member] | Market Approach [Member] | Historical and Actual Loss Experience [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired loans value	0.4351		0.2848
Impaired Loans [Member] | Market Approach [Member] | Measurement Input Transfer Prices [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Principal portion of loans serviced, fair value	$ 0	[2]	$ 0	[3]
Impaired Loans [Member] | Market Approach [Member] | Measurement Input Transfer Prices [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Principal portion of loans serviced, fair value	79,500	[2]	79,500	[3]
Loan Collateral in Process of Foreclosure [Member] | Market Approach [Member] | Collateral Value [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loan collateral in process of foreclosure value	1,800	[4]	2,300	[5]
Loan Collateral in Process of Foreclosure [Member] | Market Approach [Member] | Collateral Value [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loan collateral in process of foreclosure value	43,200	[4]	45,000	[5]
Loan Collateral in Process of Foreclosure [Member] | Market Approach [Member] | Measurement Input Transfer Prices [Member] | Minimum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loan collateral in process of foreclosure value	0	[2]	0	[3]
Loan Collateral in Process of Foreclosure [Member] | Market Approach [Member] | Measurement Input Transfer Prices [Member] | Maximum [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loan collateral in process of foreclosure value	79,500	[2]	79,500	[3]
Level 3 [Member] | Equity Investments [Member] | Investee Financial Analysis [Member] | Measurement Input Financial Condition and Operational Performance [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments	11,290,000		11,157,000
Level 3 [Member] | Equity Investments [Member] | Precedent Market Transactions [Member] | Equity Method Offering Price [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments	273,000		273,000
Level 3 [Member] | Equity Investments [Member] | Precedent Market Transactions [Member] | Equity Method Sale Price [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Equity investments	5,084,000
Level 3 [Member] | Impaired Loans [Member] | Market Approach [Member] | Historical and Actual Loss Experience [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Principal portion of loans serviced, fair value	21,881,000		25,974,000
Level 3 [Member] | Loan Collateral in Process of Foreclosure [Member] | Market Approach [Member] | Measurement Input Transfer Prices [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Loan collateral in process of foreclosure	$ 10,198,000		$ 11,772,000
[1] Includes financed sales of this collateral to third parties that are reported separately from the loan portfolio, of $ 5.8 million as of March 31, 2024 and $ 6.2 million as of December 31, 2023 . Represents amount net of liquidation costs. Represents amount net of liquidation costs. Relates to the recreation loan portfolio. Relates to the recreation loan portfolio.

Medallion Bank Preferred Stoc_2

Medallion Bank Preferred Stock (Non-controlling Interest) - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended
	Dec. 17, 2019	Jul. 21, 2011	Mar. 31, 2024	Dec. 31, 2021
Changes In Equity And Comprehensive Income Line Items [Line Items]
Investment, Type [Extensible Enumeration]				Equity Securities [Member]
Capital Purchase Program [Member]
Changes In Equity And Comprehensive Income Line Items [Line Items]
US Treasury shares purchased		26,303
Investment, Type [Extensible Enumeration]		U.S. Treasury Securities [Member]
Preferred stock, liquidation preference per share			$ 1,000
Series F Fixed-to-Floating Rate Non-cumulative Perpetual Preferred Stock [Member]
Changes In Equity And Comprehensive Income Line Items [Line Items]
Initial public offering shares	1,840,000
Preferred stock, aggregate liquidation amount	$ 46
Preferred stock, net of liquidation amount	$ 42.5
Percentage of dividend payment rate	8%
Series F Fixed-to-Floating Rate Non-cumulative Perpetual Preferred Stock [Member] | SOFR [Member]
Changes In Equity And Comprehensive Income Line Items [Line Items]
Percentage of liquidation rate basis	6.46%
Dividend description of variable rate basis	three month Secured Overnight Financing Rate, or SOFR
Series E Senior Non-Cumulative Perpetual Preferred Stock [Member] | Capital Purchase Program [Member]
Changes In Equity And Comprehensive Income Line Items [Line Items]
Percentage of dividend payment rate			9%
Aggregate purchase price		$ 26.3