Medallion Bank Announces Closing of Series G Preferred Stock Offering

NEW YORK, May 22, 2025 (GLOBE NEWSWIRE) -- Medallion Bank (Nasdaq: MBNKP, MBNKO), an FDIC-insured bank providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners, announced today that it has closed a public offering of 3,100,000 shares of its Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G, par value $1.00 per share, with a liquidation amount of $25 per share (the “Series G Preferred Stock”) and an aggregate liquidation amount of $77.5 million, which includes a partial exercise of the underwriters’ option to purchase an additional 100,000 shares of the Series G Preferred Stock. The offering priced on May 15, 2025.