Manhattan Bridge Capital, Inc. Manhattan Bridge Capital, Inc.

GREAT NECK, N.Y., Oct. 21, 2026 (GLOBE NEWSWIRE) — Manhattan Bridge Capital, Inc. (Nasdaq: LOAN) (the “Company”) announced today that its total revenues for the three months ended September 30, 2026 were approximately $2,054,000, compared to approximately $2,036,000 for the same period in 2025, representing an increase of approximately $18,000, or 0.9%. The increase was primarily attributable to higher origination fees, partially offset by lower interest income resulting from lower interest rates charged to borrowers due to increased competition in the marketplace. For the three months ended September 30, 2026 and 2025, approximately $1,662,000 and $1,770,000, respectively, of the Company’s revenues were attributable to interest income on secured commercial loans offered to real estate investors, and approximately $392,000 and $265,000, respectively, of the Company’s revenues were attributable to origination fees on such loans. The loans are principally secured by real estate collateral and accompanied by personal guarantees from the principals of the borrowers.

Net income for the three months ended September 30, 2026 was approximately $1,238,000, or $0.11 per basic and diluted share (based on approximately 11.41 million weighted-average outstanding common shares), compared to approximately $1,202,000, or $0.11 per basic and diluted share (based on approximately 11.44 million weighted-average outstanding common shares), for the same period in 2025, representing an increase of approximately $36,000, or 3.0%. The increase was primarily attributable to lower interest expense and higher origination fee income, partially offset by lower interest income and higher general and administrative expenses.

Total revenues for the nine months ended September 30, 2026 were approximately $6,166,000, compared to approximately $6,665,000 for the same period in 2025, representing a decrease of approximately $499,000, or 7.5%. 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. For the nine months ended September 30, 2026 and 2025, approximately $5,099,000 and $5,504,000, respectively, of the Company’s revenues were attributable to interest income on secured commercial loans offered to real estate investors, and approximately $1,067,000 and $1,161,000, respectively, were attributable to origination fees on such loans. The loans are principally secured by real estate collateral and accompanied by personal guarantees from the principals of the borrowers.

Net income for the nine months ended September 30, 2026 was approximately $3,665,000, or $0.32 per basic and diluted share (based on approximately 11.42 million weighted-average outstanding common shares), compared to approximately $3,988,000, or $0.35 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 $323,000, or 8.1%. The decrease was primarily attributable to lower revenues and higher general and administrative expenses, partially offset by lower interest expense.

As of September 30, 2026, total shareholders’ equity was approximately $42,789,000.

On November 20, 2025, the Company’s board of directors authorized a share repurchase program authorizing the repurchase of up to 100,000 shares of the Company’s common stock in the next twelve months. As of September 30, 2026, the Company had repurchased an aggregate of 61,185 shares under the program at a total cost of approximately $248,000. Of these amounts, 54,985 shares were repurchased during the nine months ended September 30, 2026 at an aggregate cost of approximately $219,000.

On October 8, 2026, the Company’s board of directors approved an amendment to the existing share repurchase program, increasing the aggregate number of shares authorized for repurchase from 100,000 to 250,000 shares and extending the program for an additional 12 months, through October 8, 2027.

Assaf Ran, Chairman of the Board and Chief Executive Officer of the Company, stated, “The increasing interest rate environment is raising pressure on the real estate markets, rent-to-mortgage-payment ratios are getting tighter, and sales are lingering as fewer buyers qualify for loans. Yet, unexpectedly, hard money rates haven’t increased much at this point due to intense competition. The facts that we’re exceptionally low leveraged and conservative are beneficial during these times.”

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 future lending activity, competitive conditions, and interest rates. 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) an increase 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

September 30, 2026
(unaudited)

December 31, 2025
(audited)

Loans receivable, net of deferred origination and other fees

$

59,478,735

$

60,218,841

Interest and other fees receivable on loans

1,566,838

1,642,825

Cash

168,093

204,889

Cash – restricted

8,750

23,350

Other assets

88,508

60,742

Right-of-use asset – operating lease, net

61,616

101,226

Deferred financing costs, net

107,000

98,858

Total assets

$

61,479,540

$

62,350,731

Liabilities and Stockholders’ Equity

Liabilities:

Lines of credit

$

17,034,621

$

17,601,132

Accounts payable and accrued expenses

170,734

173,247

Operating lease liability

69,274

112,076

Loan holdback

164,598

50,000

Dividends payable

1,250,834

1,314,732

Total liabilities

18,690,061

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; 11,377,466 and 11,432,451 outstanding, respectively

11,757

11,757

Additional paid-in capital

45,583,716

45,575,006

Less: Treasury shares, at cost – 379,592 and 324,607 shares, respectively

(1,318,303

)

(1,098,964

)

Accumulated deficit

(1,487,691

)

(1,388,255

)

Total stockholders’ equity

42,789,479

43,099,544

Total liabilities and stockholders’ equity

$

61,479,540

$

62,350,731

MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)

Three Months
Ended September 30,

Nine Months
Ended September 30,

2026

2025

2026

2025

Revenue:
Interest income from loans

$

1,661,896

$

1,770,377

$

5,099,291

$

5,503,694

Origination fees

391,662

265,376

1,067,114

1,161,008

Total revenue

2,053,558

2,035,753

6,166,405

6,664,702

Operating costs and expenses:

Interest and amortization of deferred financing costs

369,477

421,980

1,131,684

1,379,595

Referral fees

2,844

2,575

8,455

4,242

General and administrative expenses

447,275

413,518

1,373,033

1,304,873

Total operating costs and expenses

819,596

838,073

2,513,172

2,688,710

Income from operations

1,233,962

1,197,680

3,653,233

3,975,992

Other income

4,500

4,500

13,500

13,500

Income before income tax expense

1,238,462

1,202,180

3,666,733

3,989,492

Income tax expense

—

—

(1,300

)

(1,210

)

Net income

$

1,238,462

$

1,202,180

$

3,665,433

$

3,988,282

Basic and diluted net income per common share outstanding:

–Basic

$

0.11

$

0.11

$

0.32

$

0.35

–Diluted

$

0.11

$

0.11

$

0.32

$

0.35

Weighted average number of common shares outstanding:

–Basic

11,410,412

11,438,651

11,422,745

11,438,651

–Diluted

11,410,412

11,438,651

11,422,745

11,438,651

MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
(unaudited)

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2026

Common Shares

Additional Paid in Capital

Treasury Shares

Accumulated Deficit

Totals

Shares

Amount

Shares

Cost

Balance, July 1, 2026

11,757,058

$11,757

$45,581,538

331,549

$(1,129,013)

$(1,475,319)

$42,988,963

Non-cash compensation

2,178

2,178

Purchase of treasury shares

48,043

(189,290)

(189,290)

Dividends declared and payable

(1,250,834)

(1,250,834)

Net income

________

______

__________

______

__________

1,238,462

1,238,462

Balance, September 30, 2026

11,757,058

$11,757

$45,583,716

379,592

$(1,318,303)

$(1,487,691)

$42,789,479

FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2025

Common Shares

Additional Paid in Capital

Treasury Shares

Accumulated Deficit

Totals

Shares

Amount

Shares

Cost

Balance, July 1, 2025

11,757,058

$11,757

$45,568,473

318,407

$(1,070,406)

$(1,082,953)

$43,426,871

Non-cash compensation

3,266

3,266

Dividends declared and payable

(1,315,445)

(1,315,445)

Net income

________

______

__________

______

__________

1,202,180

1,202,180

Balance, September 30, 2025

11,757,058

$11,757

$45,571,739

318,407

$(1,070,406)

$(1,196,218)

$43,316,872

FOR THE NINE MONTHS ENDED SEPTEMBER 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

8,710

8,710

Purchase of treasury shares

54,985

(219,339)

(219,339)

Dividends paid

(2,514,035)

(2,514,035)

Dividends declared and payable

(1,250,834)

(1,250,834)

Net income

________

______

_________

______

__________

3,665,433

3,665,433

Balance, September 30, 2026

11,757,058

$11,757

$45,583,716

379,592

$(1,318,303)

$(1,487,691)

$42,789,479

FOR THE NINE MONTHS ENDED SEPTEMBER 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

9,798

9,798

Dividends paid

(2,630,890)

(2,630,890)

Dividends declared and payable

(1,315,445)

(1,315,445)

Net income

________

______

__________

______

__________

3,988,282

3,988,282

Balance, September 30, 2025

11,757,058

$11,757

$45,571,739

318,407

$(1,070,406)

$(1,196,218)

$43,316,872

MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY
CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)

Nine Months
Ended September 30,

2026

2025

Cash flows from operating activities:

Net income

$

3,665,433

$

3,988,282

Adjustments to reconcile net income to net cash provided by operating activities –

Amortization of deferred financing costs

56,675

66,710

Adjustment to right-of-use asset – operating lease and liability

(3,191

)

(1,459

)

Depreciation

1,281

4,007

Non-cash compensation expense

8,710

9,798

Changes in operating assets and liabilities:

Interest and other fees receivable on loans

75,987

(70,895

)

Other assets

(29,049

)

(69,940

)

Accounts payable and accrued expenses

(2,513

)

(60,678

)

Deferred origination and other fees

138,546

(59,801

)

Proceeds from borrower escrow deposits – loan holdback

114,598

—

Net cash provided by operating activities

4,026,477

3,806,024

Cash flows from investing activities:

Issuance of short-term loans

(40,832,273

)

(27,957,494

)

Collections received from loans

41,433,833

35,474,993

Purchase of fixed assets

—

(418

)

Net cash provided by investing activities

601,560

7,517,081

Cash flows from financing activities:

Repayment of lines of credit

(43,901,366

)

(40,751,845

)

Proceeds from lines of credit

43,334,855

33,373,595

Dividends paid

(3,828,767

)

(3,946,335

)

Purchase of treasury shares

(219,339

)

—

Deferred financing costs incurred

(64,816

)

—

Net cash used in financing activities

(4,679,433

)

(11,324,585

)

Net decrease in cash and restricted cash

(51,396

)

(1,480

)

Cash and restricted cash, beginning of period(1)

228,239

201,762

Cash and restricted cash, end of period(2)

$

176,843

$

200,282

Supplemental Disclosure of Cash Flow Information:

Cash paid during the period for taxes

$

1,300

$

1,210

Cash paid during the period for interest

$

1,074,078

$

1,346,361

Cash paid during the period for operating leases

$

49,454

$

47,973

Supplemental Schedule of Noncash Financing Activities:

Dividend declared and payable

$

1,250,834

$

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 September 30, 2026 and 2025, cash and restricted cash included $8,750 and $13,847, respectively, of restricted cash.

Contact:
Assaf Ran, CEO
(516) 444-3400
www.linkedin.com/in/assafran
SOURCE: Manhattan Bridge Capital, Inc.