Financing ·
Medallion Bank prices $55M of Series G preferred stock at $25 per share with 9% dividend rate
MBNKOMedallion Financial Corp
Medallion Financial Corp's wholly owned subsidiary, Medallion Bank, priced a public offering of 2,200,000 additional shares of Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G. The aggregate liquidation amount is $55 million at $25 per share. This reopening follows the original May 22, 2025 issuance. Dividends accrue at a fixed rate of 9.00% annually through June 30, 2030, resetting thereafter to the five-year U.S. Treasury rate plus 4.94%. Net proceeds are intended for general corporate purposes, potentially including FDIC-approved redemption of outstanding Series E Preferred Stock. The offering closes September 30, 2026. Medallion Financial Corp operates in the consumer finance industry, providing loans for recreational vehicles, boats, and home improvements through its subsidiary bank.