MBNKP Overview

Redemption Announcement: Medallion Bank will redeem all outstanding shares of its Series F Preferred Stock at $25.00 per share on July 1, 2025, which is also the date for a separate dividend payment to shareholders.

Bank Overview: Medallion Bank specializes in consumer loans for recreational vehicles, boats, and home improvements, and operates as an FDIC-insured industrial bank based in Salt Lake City, Utah.

Public Offering Announcement: Medallion Bank has successfully closed a public offering of 3.1 million shares of its Series G Preferred Stock, raising $77.5 million, which will be used for general corporate purposes including potential redemption of Series F Preferred Stock.

Trading and Management: The Series G Preferred Stock began trading on the Nasdaq under the ticker "MBNKO" on May 22, 2025, with Piper Sandler & Co. and Lucid Capital Markets acting as joint book-running managers for the offering.

Medallion Bank's Public Offering: Medallion Bank has successfully closed a public offering of 3,100,000 shares of its Series G Preferred Stock, raising an aggregate amount of $77.5 million, which will be used for general corporate purposes including potential capital growth and redeeming previous preferred stock.

Trading and Regulatory Information: The Series G Preferred Stock began trading on the Nasdaq under the ticker "MBNKO" on May 22, 2025, and the offering was exempt from registration requirements, with no assurance given regarding future redemption of the Series F Preferred Stock.

Dividend Rate Announcement: Medallion Bank will begin the floating rate period for its Series F Preferred Stock on April 1, 2025, using three-month CME Term SOFR as the benchmark for determining dividend rates.

Company Overview: Medallion Bank is a Utah-chartered, FDIC-insured industrial bank that focuses on consumer loans for recreational vehicles, boats, and home improvements, and partners with various financial service providers across the U.S.

Partnership Announcement: Medallion Bank has formed a strategic partnership with Kashable to enhance access to affordable personal loans for working Americans, leveraging both companies' strengths in consumer finance and financial wellness solutions.

Service Expansion: The collaboration will allow Medallion Bank to originate personal loans on the Kashable platform, which aims to improve financial well-being by providing socially responsible credit options through employer-sponsored benefits.