GlobeNewswire·Apr 16, 2026, 7:05 AM ET

Manhattan Bridge Capital, Inc. Reports First Quarter Results for 2026

LOAN

Manhattan Bridge Capital, Inc. reported net income of approximately $1.274 million ($0.11 per share) for the three months ended March 31, 2026, a 7.2% decrease from $1.373 million ($0.12 per share) in the same 2025 period.
Total revenues declined 9.1% to approximately $2.068 million, driven by lower interest income due to reduced loans receivable and decreased origination fees reflecting lower loan activity.
Interest income on secured commercial loans fell to $1.699 million from $1.834 million, while origination fees dropped to $368,000 from $440,000.
The decrease in net income was primarily caused by lower revenue, partially offset by reduced interest expense resulting from lower average borrowings under the credit facility and decreased SOFR rates.
As of March 31, 2026, total stockholders' equity was approximately $43.106 million.
Under the share repurchase program approved in November 2025, the company had repurchased 9,300 shares totaling $42,000 as of March 31, 2026, including 3,100 shares purchased during the first quarter of 2026.
CEO Assaf Ran noted stronger real estate markets in the company's geographic areas, citing increased loan pay-offs and new deployments, while acknowledging uncertainty regarding the potential impact of the war with Iran.
Loans receivable, net, increased to $61.944 million as of March 31, 2026, from $60.219 million at December 31, 2025.
Total liabilities rose to $21.149 million as of March 31, 2026, with lines of credit increasing to $19.436 million from $17.601 million the prior quarter.
The company continues to offer short-term secured non-banking loans to real estate investors in the New York metropolitan area and Florida, with loans principally secured by real estate collateral and personal guarantees.