MINNEAPOLIS, MN / ACCESS Newswire / May 13, 2025 / Mill City Ventures III, Ltd. (Nasdaq:MCVT) ("Mill City" or the "Company") a non-bank lender and specialty finance company, today announced financial results for the first quarter ended March 31, 2025.
1Q 2025 Highlights
Net increase in net assets resulting from operations increased in the first quarter to $451,746 from $382,103 in the prior-year period, an 18% increase
Net asset value per share increased to $3.23 from $3.09 at the end of 2024.
During the quarter, the Company repurchased 322,482 shares of its common stock for approximately $630,000 under its authorized buyback program.
Originated $3.25M in new short-term real estate loans during the first quarter.
Chief Executive Officer, Douglas Polinsky, commented: "Our first quarter results reflect continued execution in our lending business. The combination of healthy investment income, strong credit performance, and an opportunistic buyback of our shares at a discount to NAV underscores our focus on shareholder value creation. We remain optimistic about the remainder of 2025 as loan demand continues to be strong and our investment pipeline remains active."
About Mill City
Founded in 2007, Mill City is a short-term non-bank lending and specialty finance company. Additional information can be found at www.sec.gov.
Forward-Looking Statements and Safe Harbor Notice
All statements other than statements of historical facts included in this press release are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995). Such forward-looking statements include our expectations and those statements that use forward-looking words such as "projected," "expect," "possibility" and "anticipate." The achievement or success of the matters covered by such forward-looking statements involve significant risks, uncertainties and assumptions. Actual results could differ materially from current projections or implied results. Investors should carefully read the risk factors set forth in the Company's prospectus on Form 10-K filed with the SEC on March 10, 2025, as amended, subsequent filings and future periodic reports filed with the SEC. All of the Company's forward-looking statements are expressly qualified by all such risk factors and other cautionary statements.
The Company cautions that statements and assumptions made in this press release constitute forward-looking statements and make no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. The information set forth herein speaks only as of the date hereof. The Company and its management undertake no obligation to revise these statements following the date of this news release, other than as required by law.
Investor Contact:
Joseph A. Geraci
Chief Financial Officer
Mill City Ventures III, Ltd.
jg@millcityventures3.com
SOURCE: Mill City Ventures III Ltd.
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