Core Insights - Medallion Bank has announced the promotion of Justin Haley to President and Travis Betenson to SVP and Chief Financial Officer, effective January 12, 2026 [1] Group 1: Leadership Changes - Justin Haley has over 30 years of experience in banking, joining Medallion Bank in 2011 as VP of Home Improvement Lending and progressing through various leadership roles, including SVP and COO [2] - Travis Betenson joined Medallion Bank in January 2024 as VP of Finance and has over 15 years of banking leadership experience, previously serving as CFO for two industrial banks in Utah [3] Group 2: Executive Team Dynamics - CEO Donald Poulton expressed confidence in the leadership capabilities of both Haley and Betenson, highlighting their collaborative efforts and the strong executive core that includes Chief Lending Officer Steve Hannay [4] Group 3: Company Overview - Medallion Bank specializes in consumer loans for recreational vehicles, boats, and home improvements, and provides loan origination services to fintech partners, operating as a Utah-chartered, FDIC-insured industrial bank [5]

Core Insights - Medallion Bank reported a net income of $19.8 million for Q3 2025, an increase from $15.5 million in the same quarter last year, driven by growth in recreation loans and stable performance in home improvement loans [3][6] - The bank's total loan portfolio was $2.3 billion as of September 30, 2025, down from $2.4 billion a year earlier, with recreation loans making up 66% of the total [6][7] - Strategic partnership loan originations reached a record $208 million in the quarter, indicating strong demand for consumer loans [3] Financial Performance - Net interest income increased to $55.9 million from $53.2 million year-over-year, with a net interest margin of 8.64%, up from 8.44% [6] - Total non-interest income rose to $2.3 million compared to $0.6 million in the prior year quarter [6] - The provision for credit losses decreased to $17.2 million from $20.2 million in the prior year quarter, reflecting improved asset quality [6] Loan Segments - The recreation loan portfolio was $1.546 billion as of September 30, 2025, with loan originations of $141.7 million, slightly up from $139.1 million in the prior year quarter [7] - Home improvement loan portfolio size was $804.0 million, down from $814.1 million a year earlier, with loan originations of $59.7 million [5][14] - Delinquencies for recreation loans increased to 4.97% from 4.15% year-over-year, while home improvement loans saw a decrease in delinquencies to 0.92% from 1.02% [7][14] Capital and Dividends - The bank's Tier 1 leverage ratio was 17.5% as of September 30, 2025, indicating strong capital position [6] - A quarterly cash dividend of $0.5625 per share on Series G preferred stock was declared, payable on January 2, 2026 [9]