Manhattan Bridge Capital, Inc. Reports Third Quarter Results For 2026

(MENAFN- GlobeNewsWire - Nasdaq) 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: .

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

SOURCE: Manhattan Bridge Capital, Inc.

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