Recent Updates — MBNKO
On October 21, 2026, Medallion Financial Corp. consummated the purchase of trust preferred securities from BIMIZCI Fund LLC and ZimCal Asset Management LLC. The company acquired the securities with a liquidation amount of $15,000,000 for an aggregate price of $11,163,231.48, which includes accrued distributions. This transaction represents a significant capital return to reduce outstanding liabilities. Medallion Financial Corp. operates in the specialty finance industry, providing consumer and small business lending services.
Medallion Financial Corp. entered into a Purchase and Settlement Agreement with BIMIZCI Fund LLC and ZimCal Asset Management LLC to repurchase trust preferred securities of Medallion Financing Trust I having a liquidation amount of $15,000,000 for an aggregate cash purchase price of $11,049,000 plus accrued distributions. The transaction represents a 73.66% discount to face value and is expected to close within thirty days subject to customary conditions. As part of the resolution, investor parties agreed to a five-year standstill restricting proxy contests and must dispose of all remaining common stock by December 31, 2026. The company expects to record a gain from the repurchase in the fourth quarter of 2026. Medallion Financial Corp. is a specialty finance company that originates and services consumer and commercial loans.
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.
Medallion Financial Corp.'s wholly owned subsidiary, Medallion Bank, launched a public offering of additional shares of its Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G. This reopening follows the original issuance on May 22, 2025. The preferred stock has a par value of $1.00 and a liquidation amount of $25 per share, trading under ticker MBNKO. Medallion Bank intends to use net proceeds for general corporate purposes, potentially including redeeming outstanding Series E Preferred Stock subject to FDIC approval. Underwriters include Piper Sandler & Co., Lucid Capital Markets, LLC, Muriel Siebert & Co., LLC, A.G.P. / Alliance Global Partners, and Ladenburg Thalmann & Co. Inc. Medallion Financial Corp. operates in the financial services industry, providing consumer loans for recreational vehicles, boats, and home improvements through its subsidiary bank.
Medallion Financial Corp. reported second-quarter net income attributable to stockholders of $7.4 million, or $0.31 per share, a decline from $11.1 million in the prior-year period due to lower equity investment gains. Net interest income grew 7% to $57.2 million as total assets exceeded $3.0 billion for the first time. Loan originations surged 63% to $611.6 million, driven by strong demand in recreation and home improvement lending segments. The company also declared a quarterly cash dividend of $0.14 per share and repurchased nearly 780,000 shares for $7.7 million. Medallion Financial Corp. is a specialty finance company that originates and services consumer and commercial loans.
Medallion Financial Corp. announced the retirement of Donald S. Poulton, effective June 30, 2026, from his role as Chief Executive Officer of Medallion Bank. The Compensation Committee approved the accelerated vesting of 92,978 shares of his unvested restricted stock on June 25, change in in status from employee to director will not trigger a termination under the 2018 Equity Incentive Plan, preserving his vested stock options expiration dates. The Committee also approved his eligibility for a discretionary annual cash bonus to be determined in early 2027. Medallion Financial Corp. is a financial services company providing specialized banking and lending solutions.