Manhattan Bridge Capital, Inc.
GREAT NECK, N.Y., July 23, 2026 (GLOBE NEWSWIRE) — Manhattan Bridge Capital, Inc. (Nasdaq: LOAN) (the “Company”) announced today that its total revenue for the three months ended June 30, 2026 was approximately $2,045,000 compared to approximately $2,355,000 for the same period in 2025, a decrease of approximately $310,000, or 13.2%. The decrease occurred despite increases in both the number of loans originated and the amount of capital deployed and was primarily attributable to lower interest rates and origination fees charged to borrowers as a result of increased competition in the marketplace. In addition, the Company granted approximately $85,000 of discretionary payoff and refinancing credits to certain borrowers during the quarter. These credits were provided in connection with negotiated loan payoffs and other borrower-specific business matters. For the three months ended June 30, 2026 and 2025, approximately $1,738,000 and $1,899,000, respectively, of the Company’s revenues were attributable to interest income on secured commercial loans that the Company offers to real estate investors, and approximately $307,000 and $456,000, respectively, of the Company’s revenues were attributable to origination fees on such loans. The loans are principally secured by collateral consisting of real estate and accompanied by personal guarantees from the principals of the borrowers.
Net income for the three months ended June 30, 2026 was approximately $1,153,000, or $0.10 per basic and diluted share (based on approximately 11.43 million weighted-average outstanding common shares), as compared to approximately $1,413,000, or $0.12 per basic and diluted share (based on approximately 11.44 million weighted-average outstanding common shares), for the same period in 2025, representing a decrease of approximately $260,000, or 18.4%. The decrease was primarily attributable to lower revenue, partially offset by reduced interest expense.
Total revenue for the six months ended June 30, 2026 was approximately $4,113,000 compared to approximately $4,629,000 for the same period in 2025, a decrease of approximately $516,000, or 11.1%. The decrease occurred despite increases in both the number of loans originated and the amount of capital deployed and was primarily attributable to lower interest rates and origination fees charged to borrowers as a result of increased competition in the marketplace. In addition, the Company granted approximately $91,000 of discretionary payoff and refinancing credits to certain borrowers during the six months. These credits were provided in connection with negotiated loan payoffs and other borrower-specific business matters. For the six months ended June 30, 2026 and 2025, revenues of approximately $3,437,000 and $3,733,000, respectively, were attributable to interest income on secured commercial loans that the Company offers to real estate investors, and approximately $675,000 and $896,000, respectively, were attributable to origination fees on such loans. The loans are principally secured by collateral consisting of real estate and accompanied by personal guarantees from the principals of the borrowers.
Net income for the six months ended June 30, 2026 was approximately $2,427,000, or $0.21 per basic and diluted share (based on approximately 11.43 million weighted-average outstanding common shares), as compared to approximately $2,786,000, or $0.24 per basic and diluted share (based on approximately 11.44 million weighted-average outstanding common shares), for the same period in 2025, representing a decrease of approximately $359,000, or 12.9%. The decrease was primarily attributable to lower revenue, partially offset by reduced interest expense.
As of June 30, 2026, total shareholders’ equity was approximately $42,989,000.
On November 20, 2025, the Company’s board of directors approved a new share repurchase program authorizing the repurchase of up to 100,000 shares of its common stock over the following 12 months. As of June 30, 2026, the Company had repurchased an aggregate of 13,142 shares under the program at a total cost of approximately $59,000. Of these amounts, 6,942 shares were repurchased during the six months ended June 30, 2026 at an aggregate cost of approximately $30,000.
Assaf Ran, Chairman of the Board and Chief Executive Officer of the Company, stated, “We were very busy during the second quarter, as business activity increased. We originated more loans and deployed more capital than we did a year ago, and our pipeline continues to grow. However, competition remains intense, and as a result, we are generally charging interest rates that are 1.5% to 2.0% lower than a year ago and, in some cases, offering discounted origination fees in order to secure attractive lending opportunities.
Another event that occurred during the second quarter was that, for the first time, it appears we may need to foreclose on a loan. The properties securing the loan are located in Florida, and we currently believe that we will recover the outstanding principal and accrued interest within the next one to two years,” added Mr. Ran.
About Manhattan Bridge Capital, Inc.
Manhattan Bridge Capital, Inc. offers short-term secured, non–banking loans (sometimes referred to as ”hard money” loans) to real estate investors to fund their acquisition, renovation, rehabilitation or development of properties located in the New York metropolitan area, including New Jersey and Connecticut, and in Florida. The Company operates the website: https://www.manhattanbridgecapital.com.
Forward-Looking Statements
This press release and statements made by the Company’s representatives in connection with this press release contain, or may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. Words such as “plan,” “project,” “potential,” “seek,” “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate,” and “continue,” and similar expressions, are intended to identify forward-looking statements.
Forward-looking statements in this press release include, among other things, statements regarding the Company’s loan pipeline, future lending activity, competitive conditions, interest rates and origination fees, the potential foreclosure described above, the estimated value of the underlying collateral, and the timing or amount of any recovery. Readers are cautioned that forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Actual results may differ materially from those projected, expressed or implied in such forward-looking statements as a result of various factors, including, but not limited to: (i) our loan origination activities, revenues and profits are limited by available funds; (ii) we operate in a highly competitive market and competition may limit our ability to originate loans with favorable interest rates and fees; (iii) our Chief Executive Officer is critical to our business and our future success may depend on our ability to retain him; (iv) if we overestimate the yields on our loans or the amounts recoverable through foreclosure, or incorrectly value the collateral securing our loans, we may experience losses; (v) we may be subject to “lender liability” claims; (vi) our due diligence may not uncover all of a borrower’s liabilities or other risks to its business; (vii) borrower concentration could lead to significant losses; (viii) we may choose to make distributions in our own stock, in which case shareholders may be required to pay income taxes in excess of the cash dividends they receive; and (ix) changes in interest rates may affect our profitability. The risk factors described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the Securities and Exchange Commission, identify additional important factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements. These forward-looking statements speak only as of the date of this press release. Except as required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY
CONSOLIDATED BALANCE SHEETS
Assets
June 30, 2026
(unaudited)
December 31, 2025
(audited)
Loans receivable, net of deferred origination and other fees
$
61,772,768
$
60,218,841
Interest and other fees receivable on loans
1,637,865
1,642,825
Cash
229,547
204,889
Cash – restricted
27,000
23,350
Other assets
125,809
60,742
Right-of-use asset – operating lease, net
74,819
101,226
Deferred financing costs, net
125,716
98,858
Total assets
$
63,993,524
$
62,350,731
Liabilities and Stockholders’ Equity
Liabilities:
Lines of credit
$
19,309,466
$
17,601,132
Accounts payable and accrued expenses
190,002
173,247
Operating lease liability
83,689
112,076
Loan holdback
164,598
50,000
Dividends payable
1,256,806
1,314,732
Total liabilities
21,004,561
19,251,187
Commitments and contingencies
Stockholders’ equity:
Preferred shares – $.01 par value; 5,000,000 shares authorized; none issued and outstanding
—
—
Common shares – $.001 par value; 25,000,000 shares authorized; 11,757,058 issued; 11,425,509 and 11,432,451 outstanding, respectively
11,757
11,757
Additional paid-in capital
45,581,538
45,575,006
Less: Treasury shares, at cost – 331,549 and 324,607 shares, respectively
(1,129,013
)
(1,098,964
)
Accumulated deficit
(1,475,319
)
(1,388,255
)
Total stockholders’ equity
42,988,963
43,099,544
Total liabilities and stockholders’ equity
$
63,993,524
$
62,350,731
MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
Three Months
Ended June 30,
Six Months
Ended June 30,
2026
2025
2026
2025
Revenue:
Interest income from loans
$
1,738,065
$
1,899,403
$
3,437,395
$
3,733,317
Origination fees
307,138
455,833
675,452
895,632
Total revenue
2,045,203
2,355,236
4,112,847
4,628,949
Operating costs and expenses:
Interest and amortization of deferred financing costs
398,960
506,250
762,208
957,615
Referral fees
1,646
1,523
5,611
1,667
General and administrative expenses
495,150
437,785
925,757
891,355
Total operating costs and expenses
895,756
945,558
1,693,576
1,850,637
Income from operations
1,149,447
1,409,678
2,419,271
2,778,312
Other income
4,500
4,500
9,000
9,000
Income before income tax expense
1,153,947
1,414,178
2,428,271
2,787,312
Income tax expense
(1,300
)
(1,210
)
(1,300
)
(1,210
)
Net income
$
1,152,647
$
1,412,968
$
2,426,971
$
2,786,102
Basic and diluted net income per common share outstanding:
–Basic
$
0.10
$
0.12
$
0.21
$
0.24
–Diluted
$
0.10
$
0.12
$
0.21
$
0.24
Weighted average number of common shares outstanding:
–Basic
11,427,357
11,438,651
11,429,033
11,438,651
–Diluted
11,427,357
11,438,651
11,429,033
11,438,651
MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
(unaudited)
FOR THE THREE MONTHS ENDED JUNE 30, 2026
Common Shares
Additional Paid in Capital
Treasury Shares
Accumulated Deficit
Totals
Shares
Amount
Shares
Cost
Balance, April 1, 2026
11,757,058
$11,757
$45,578,272
327,707
$(1,112,746)
$(1,371,160)
$43,106,123
Non-cash compensation
3,266
3,266
Purchase of treasury shares
3,842
(16,267)
(16,267)
Dividends declared and payable
(1,256,806)
(1,256,806)
Net income
1,152,647
1,152,647
Balance, June 30, 2026
11,757,058
$11,757
$45,581,538
331,549
$(1,129,013)
$(1,475,319)
$42,988,963
FOR THE THREE MONTHS ENDED JUNE 30, 2025
Common Shares
Additional Paid in Capital
Treasury Shares
Accumulated Deficit
Totals
Shares
Amount
Shares
Cost
Balance, April 1, 2025
11,757,058
$11,757
$45,565,207
318,407
$(1,070,406)
$(1,180,476)
$43,326,082
Non-cash compensation
3,266
3,266
Dividends declared and payable
(1,315,445)
(1,315,445)
Net income
1,412,968
1,412,968
Balance, June 30, 2025
11,757,058
$11,757
$45,568,473
318,407
$(1,070,406)
$(1,082,953)
$43,426,871
FOR THE SIX MONTHS ENDED JUNE 30, 2026
Common Shares
Additional Paid in Capital
Treasury Shares
Accumulated Deficit
Totals
Shares
Amount
Shares
Cost
Balance, January 1, 2026
11,757,058
$11,757
$45,575,006
324,607
$(1,098,964)
$(1,388,255)
$43,099,544
Non-cash compensation
6,532
6,532
Purchase of treasury shares
6,942
(30,049)
(30,049)
Dividends paid
(1,257,229)
(1,257,229)
Dividends declared and payable
(1,256,806)
(1,256,806)
Net income
2,426,971
2,426,971
Balance, June 30, 2026
11,757,058
$11,757
$45,581,538
331,549
$(1,129,013)
$(1,475,319)
$42,988,963
FOR THE SIX MONTHS ENDED JUNE 30, 2025
Common Shares
Additional Paid in Capital
Treasury Shares
Accumulated Deficit
Totals
Shares
Amount
Shares
Cost
Balance, January 1, 2025
11,757,058
$11,757
$45,561,941
318,407
$(1,070,406)
$(1,238,165)
$43,265,127
Non-cash compensation
6,532
6,532
Dividends paid
(1,315,445)
(1,315,445)
Dividends declared and payable
(1,315,445)
(1,315,445)
Net income
2,786,102
2,786,102
Balance, June 30, 2025
11,757,058
$11,757
$45,568,473
318,407
$(1,070,406)
$(1,082,953)
$43,426,871
MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
Six Months
Ended June 30,
2026
2025
Cash flows from operating activities:
Net income
$
2,426,971
$
2,786,102
Adjustments to reconcile net income to net cash provided by operating activities –
Amortization of deferred financing costs
37,958
44,473
Adjustment to right-of-use asset – operating lease and liability
(1,980
)
(831
)
Depreciation
926
2,790
Non-cash compensation expense
6,532
6,532
Changes in operating assets and liabilities:
Interest and other fees receivable on loans
4,960
(369,307
)
Other assets
(65,994
)
(93,403
)
Accounts payable and accrued expenses
16,755
(33,614
)
Deferred origination and other fees
151,047
64,338
Proceeds from borrower escrow deposits – loan holdback
114,598
—
Net cash provided by operating activities
2,691,773
2,407,080
Cash flows from investing activities:
Issuance of short-term loans
(29,007,320
)
(23,482,540
)
Collections received from loans
27,302,347
23,619,317
Purchase of fixed assets
—
(418
)
Net cash (used in) provided by investing activities
(1,704,973
)
136,359
Cash flows from financing activities:
Proceeds from lines of credit
30,608,460
26,460,484
Repayment of lines of credit
(28,900,126
)
(26,365,153
)
Dividends paid
(2,571,961
)
(2,630,890
)
Deferred financing costs incurred
(64,816
)
—
Purchase of treasury shares
(30,049
)
—
Net cash used in financing activities
(958,492
)
(2,535,559
)
Net increase in cash
28,308
7,880
Cash and restricted cash, beginning of period(1)
228,239
201,762
Cash and restricted cash, end of period(2)
$
256,547
$
209,642
Supplemental Disclosure of Cash Flow Information:
Cash paid during the period for taxes
$
1,300
$
1,210
Cash paid during the period for interest
$
702,754
$
903,251
Cash paid during the period for operating leases
$
33,028
$
31,982
Supplemental Schedule of Noncash Financing Activities:
Dividend declared and payable
$
1,256,806
$
1,315,445
Supplemental Schedule of Noncash Operating and Investing Activities:
Reduction in interest receivable in connection with the increase in loans receivable
$
—
$
13,122
(1) At December 31, 2025 and 2024, cash and restricted cash included $23,350 and $23,750, respectively, of restricted cash.
(2) At June 30, 2026 and 2025, cash and restricted cash included $27,000 and $875, respectively, of restricted cash.
Contact:
Assaf Ran, CEO
(516) 444-3400
www.linkedin.com/in/assafran
SOURCE: Manhattan Bridge Capital, Inc.