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

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.

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