Core Insights - Medallion Bank has appointed Joel Cannon as Senior Vice President of Sales and Marketing, aiming to enhance its leadership in recreation lending and expand its home improvement finance and strategic partnership businesses [1][4]. Group 1: Appointment and Background - Joel Cannon brings over 20 years of leadership experience in consumer lending, performance marketing, and product development, previously serving as SVP of Sales and Marketing at Regions Home Improvement Financing [2]. - Prior to his banking career, Joel held leadership roles in product, sales, and marketing at an edtech software start-up and a performance marketing firm, and he is a former board member of the Utah Bankers Association [3]. Group 2: Company Strategy and Vision - The appointment of Joel Cannon reflects Medallion Bank's commitment to maintaining its leadership position in recreation lending while growing its home improvement finance and strategic partnership businesses [4]. - Joel expressed enthusiasm for leading growth initiatives in home improvement and recreation lending, focusing on providing flexible and innovative financing options to contractors, dealers, partners, and borrowers [5].

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]

Company Overview - Medallion Bank is an FDIC-insured bank that specializes in providing consumer loans for recreational vehicles, boats, and home improvements, as well as loan origination services to fintech strategic partners [5] Redemption Announcement - Medallion Bank announced that it will redeem all outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F on July 1, 2025, at a redemption price of $25.00 per share [1] - The redemption price does not include declared and unpaid dividends, which will be paid separately on the same date to holders of record [2] Post-Redemption Details - After the redemption date, the Series F Preferred Stock will no longer be considered outstanding, and dividends will cease to accrue [3] - The shares are held in book-entry form through The Depository Trust Company and will be redeemed according to DTC procedures [3] Contact Information - Investors seeking information about the redemption payment should contact the bank or their broker [4]

Company Overview - Medallion Bank is an FDIC-insured bank that specializes in providing consumer loans for recreational vehicles, boats, and home improvements, as well as loan origination services to fintech strategic partners [5]. Redemption Announcement - Medallion Bank announced that it will redeem all outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F, on July 1, 2025, at a redemption price of $25.00 per share [1]. - The redemption price does not include declared and unpaid dividends, which will be paid separately on the same date to holders of record [2]. Post-Redemption Details - After the redemption date, the Series F Preferred Stock will no longer be considered outstanding, and dividends will cease to accrue [3]. - The shares are held in book-entry form through The Depository Trust Company and will be redeemed according to DTC procedures [3]. Contact Information - Investors seeking information about the redemption payment should contact the bank or their broker [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]

Core Viewpoint - Medallion Bank reported strong performance in Q1 2025, with net income of $15.6 million, an 8% increase from the previous year, despite economic uncertainties affecting demand in recreation and home improvement lending [3]. Financial Performance - Net income for Q1 2025 was $15.6 million, compared to $14.5 million in Q1 2024 [5]. - Net interest income increased to $52.2 million from $48.2 million year-over-year [5]. - The net interest margin slightly decreased to 8.35% from 8.59% in the prior year [5]. - Total provision for credit losses rose to $19.0 million from $17.0 million in the previous year [5]. - Annualized net charge-offs were 3.41% of average loans outstanding, up from 3.38% in the prior year [5]. - Total loan portfolio grew by 6% to $2.2 billion as of March 31, 2025 [5]. - Total assets were reported at $2.5 billion with a Tier 1 leverage ratio of 16.0% [5]. Lending Segments - The recreation loan portfolio grew by 5% to $1.432 billion, while loan originations decreased to $86.8 million from $105.8 million year-over-year [6]. - Delinquencies for recreation loans increased to $68.2 million (4.76%) from $55.5 million (4.06%) in the prior year [6]. - The home improvement loan portfolio grew by 8% to $812.4 million, with loan originations at $48.8 million, down from $51.6 million [6]. - Delinquencies for home improvement loans rose to $8.3 million (1.02%) from $6.5 million (0.87%) year-over-year [6]. Strategic Initiatives - The bank completed an initial sale of $53 million in recreation loans at a premium to par value, indicating a proactive approach to managing its loan portfolio [3]. - The bank continues to monitor the market for potential loan sale opportunities [3]. Preferred Stock Dividend - The Board of Directors declared a quarterly cash dividend of $0.67982 per share on Series F Preferred Stock, with a dividend rate of 10.75761%, payable on July 1, 2025 [7].