| Business Summary | | Medallion
Financial
Corp.
is
a
specialty
finance
company
that
originates
and
services
loans
that
finance
taxicab
medallions
and
various
types
of
commercial
loans.
As
an
adjunct
to
its
medallion
loan
business,
the
Company
also
operates
a
taxicab
rooftop
advertising
business,
and
provides
advertising
space
in
34
metropolitan
areas
across
the
United
States.
The
Company's
medallion
loan
portfolio
consists
of
mostly
fixed-rate
loans,
collateralized
by
first-security
interests
in
taxicab
medallions
and
related
assets.
Medallion
loans
generally
require
equal
monthly
payments
covering
accrued
interest
and
amortization
of
principal,
over
a
10-
to
15-year
schedule,
subject
to
a
balloon
payment
of
all
outstanding
principal
after
four
or
five
years.
The
Company
has
also
begun
to
originate
loans
with
one-
to-four-year
maturities,
where
interest
rates
are
adjusted
and
a
new
maturity
period
set.
Medallion's
commercial
loan
portfolio
consists
of
floating-,
adjustable-
and
fixed-rate
loans. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Medallion
is
a
closed-end
management
investment
company
whose
principal
activity
is
the
origination
and
servicing
of
commercial
secured
loans.
TAXI
also
operates
a
taxicab
rooftop
advertising
business.
For
the
six
months
ended
6/30/01,
total
investment
income
fell
12%
to
$25
million.
Net
increase
in
assets
from
operations
fell
47%
to
$4.7
million.
Results
reflect
a
lower
level
of
loans
receivable,
reduced
gains
on
the
sale
of
loans
and
increased
investment
losses. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Alvin Murstein, 66 Chairman,
CEO | $393K | Andrew Murstein, 36 Pres | 455K | James Jack CFO | -- | Brian O'Leary, 55 COO,
Exec. VP, Chief Credit Officer | 240K | Michael Kowalsky, 60 Exec.
VP | 235K | Dollar
amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|