Manhattan Bridge Capital (NASDAQ:LOAN), a specialist in short-term "hard money" lending for real estate investors, reported a contraction in its financial results for the first quarter ended March 31, 2026.
The company posted net income of $1,274,000, or $0.11 per share, representing a 7.2% decrease from the $1,373,000 recorded in the first quarter of 2025.
Total revenue for the quarter fell 9.1% year-over-year to $2,068,000, down from $2,275,000 a year earlier.
Management attributed the decline primarily to a reduction in interest income and a drop in origination fees, suggesting a period of more cautious lending activity or a shift in the volume of bridge loans being processed within its core markets.
Despite the top-line pressure, the company’s balance sheet remained stable, with stockholders' equity totaling approximately $43,106,000 at the end of March.
Manhattan Bridge Capital also utilized its existing share buyback program during the quarter, repurchasing 9,300 shares of common stock for approximately $42,000.
To date, the company has roughly 90,700 shares remaining under its current 100,000-share authorization.