MEDALLION BANK ANNOUNCES PRICING OF SERIES G PREFERRED STOCK OFFERING
MEDALLION FINANCIAL CORP (MBNKO) filed an SEC Form 8-K — Regulation FD Disclosure. Exhibit 99.1 FOR IMMEDIATE RELEASE: MEDALLION BANK ANNOUNCES PRICING OF SERIES G PREFERRED STOCK OFFERING SALT LAKE CITY, UT – September 23, 2026 – Medallion Bank (Nasdaq: MBNKO), an FDIC-insured bank providing consumer loans for the purchase of recreational vehicles, boats, and
How this was made
The 30-second read
Why it matters
The $55 M preferred offering expands the bank's capital base, supports possible redemption of existing Series E preferred, and may improve liquidity ratios.
Market read
Primary disclosure of a mid‑size capital raise for a niche bank; relevant for investors tracking small‑cap financials and yield‑oriented instruments.
What to watch
Potential regulatory scrutiny of the redemption of Series E preferred shares and FDIC approval timelines.
Background
Medallion Bank, a subsidiary of Medallion Financial Corp., provides consumer loans for RVs, boats, and home improvements and originates loans for fintech partners.
Ticker impact
Medallion Bank priced a $55 million Series G preferred stock offering, adding 2.2 million shares.
Potential short‑term upside on the news, but price may stabilize as the offering closes.
New preferred issuance is material for a small‑cap bank; the size ($55 M) is significant relative to its market cap, but the terms are fixed and the proceeds are for general corporate purposes.
Market effects
May set a precedent for other niche consumer‑loan banks to use preferred equity for balance‑sheet management.
Limited to U.S. regional banking sector; no broader market effect expected.
Low – the issuance is a domestic bank matter with minimal global impact.
Counterpoint
The high dividend rate could become a cost burden if interest rates fall, making the preferred less attractive.
Key entities
- companyMedallion Bank
Issuer of the Series G preferred stock.
- underwriterPiper Sandler & Co.
Joint book‑running manager for the offering.
