Joel Cannon appointed Senior Vice President of Sales and MarketingSALT LAKE CITY, Feb. 04, 2026 (GLOBE NEWSWIRE) -- Medallion Bank (Nasdaq: MBNKO, the “Bank”), an FDIC-insured bank providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners, is pleased to announce the appointment of Joel Cannon as Senior Vice President of Sales and Marketing. The Bank is a wholly owned subsidiary of Medallion Financial C ...

SALT LAKE CITY, Jan. 29, 2026 (GLOBE NEWSWIRE) -- Medallion Bank (Nasdaq: MBNKO, the “Bank”), an FDIC-insured bank providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners, announced today its results for the quarter and year ended December 31, 2025. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN). 2025 Fourth Quarter Highlights Net income of $19.4 million, compared t ...

Core Insights - Medallion Bank reported a net income of $17.3 million for Q2 2025, an increase from $15.0 million in the same quarter last year, highlighting strong earnings growth and significant capital market activities [3][6] - The bank's total loan portfolio grew by 1% year-over-year to $2.3 billion as of June 30, 2025, with strategic partnership volumes increasing by 24% from Q1 2025 [4][6] Financial Performance - Net interest income reached $53.9 million, up from $50.2 million in the prior year quarter, while total non-interest income increased to $2.7 million from $0.9 million [6] - The net interest margin slightly decreased to 8.54% from 8.55% year-over-year [6] - Annualized net charge-offs rose to 2.66% of average loans outstanding compared to 2.31% in the prior year quarter [6] Loan Portfolio Details - The recreation loan portfolio decreased by 0.8% to $1.486 billion, with loan originations at $142.8 million, down from $209.6 million in the prior year quarter [7] - The home improvement loan portfolio grew by 4% to $803.5 million, with loan originations at $54.3 million, compared to $68.0 million in the prior year quarter [12] - Delinquency rates for home improvement loans improved, remaining stable at 0.86%, while recreation loans saw an increase in delinquencies to 4.42% [7][12] Capital Market Activities - The bank completed a $77.5 million Series G preferred stock offering and redeemed $46 million of Series F preferred securities [3][4] - The Series F preferred stock was fully redeemed on July 1, 2025, with no further dividends to be paid [8] Strategic Partnerships - Strategic partnership volumes reached $169 million in Q2 2025, reflecting a 24% increase from $136 million in Q1 2025 [4]

Core Viewpoint - Medallion Bank has successfully closed a public offering of 3,100,000 shares of its Series G Preferred Stock, raising an aggregate liquidation amount of $77.5 million, which includes a partial exercise of the underwriters' option [1][2] Group 1: Offering Details - The Series G Preferred Stock has a par value of $1.00 per share and a liquidation amount of $25 per share [1] - The offering was priced on May 15, 2025, and commenced trading on the Nasdaq Capital Market under the ticker symbol "MBNKO" on May 22, 2025 [2] - The offering was exempt from the registration requirements of the Securities Act of 1933 and was made only by means of an offering circular [5] Group 2: Use of Proceeds - Medallion Bank intends to use the net proceeds from the offering for general corporate purposes, which may include increasing capital levels, growing consumer loan portfolios, or redeeming outstanding Series F Preferred Stock, subject to regulatory approval [3] Group 3: Company Background - Medallion Bank specializes in providing consumer loans for recreational vehicles, boats, and home improvements, and offers loan origination services to fintech partners [7] - The bank is a Utah-chartered, FDIC-insured industrial bank headquartered in Salt Lake City and is a wholly owned subsidiary of Medallion Financial Corp [7] Group 4: Management and Advisors - Piper Sandler & Co. and Lucid Capital Markets, LLC acted as joint book-running managers for the offering, with several other firms serving as lead managers [4]