{"success":true,"data":{"pressRelease":{"id":"157236","rtpr_id":"nGNX62xmpR-20260930","ticker":"MBNKO","exchange":"NASDAQ","all_tickers":["MBNKO","MFIN"],"title":"Medallion Bank Announces Closing of Series G Preferred Stock Offering","author":"Globe Newswire","published_at":"2026-09-30T20:05:00.254Z","article_body":"SALT LAKE CITY, Sept. 30, 2026 (GLOBE NEWSWIRE) -- Medallion Bank (Nasdaq:\nMBNKO), an FDIC-insured bank providing consumer loans for the purchase of\nrecreational vehicles, boats, and home improvements, along with loan\norigination services to fintech strategic partners, announced today that it\nhas closed a public offering of 2,200,000 additional shares of its Fixed-Rate\nReset Non-Cumulative Perpetual Preferred Stock, Series G, par value $1.00 per\nshare, with a liquidation amount of $25 per share (the “Series G Preferred\nStock”) and an aggregate liquidation amount of $55 million. The offering\npriced on September 23, 2026. The underwriters have also been granted a 30-day\noption to purchase up to an additional 330,000 shares of the Series G\nPreferred Stock solely to cover over-allotments, if any.\n\nMedallion Bank’s Series G Preferred Stock is traded on the Nasdaq Capital\nMarket under the ticker symbol “MBNKO.” Medallion Bank remains a wholly\nowned subsidiary of Medallion Financial after the completion of the offering.\n\nMedallion Bank intends to use the net proceeds from this offering for general\ncorporate purposes, which may include, among other things, redeeming some or\nall of its outstanding Senior Series E Non-Cumulative Perpetual Preferred\nStock (the “Series E Preferred Stock”), subject to the prior approval of\nthe Federal Deposit Insurance Corporation.\n\nPiper Sandler & Co., Lucid Capital Markets, LLC, Muriel Siebert & Co., LLC,\nA.G.P. / Alliance Global Partners, and Ladenburg Thalmann & Co. Inc. are\nacting as joint book-running managers. William Blair & Company, L.L.C.,\nInspereX LLC, B. Riley Securities, Inc., and Clear Street LLC are acting as\nlead managers.\n\nThe offering of the Medallion Bank’s Series G Preferred Stock was exempt\nfrom the registration requirements of the Securities Act of 1933 pursuant to\nSection 3(a)(2) of that Act and was made only by means of an offering\ncircular. This press release is for informational purposes only and does not\nconstitute an offer to sell or the solicitation of an offer to buy securities,\nand shall not constitute an offer, solicitation or sale in any jurisdiction in\nwhich such offer, solicitation or sale would be unlawful prior to registration\nor qualification under the securities laws of that jurisdiction. The\nsecurities are neither insured nor approved by the Federal Deposit Insurance\nCorporation or any other Federal or state regulatory body.\n\nThe final offering circular relating to the offering is available at\nmedallionbankoffering.com. In addition, copies of the final offering circular\nmay also be obtained from: Piper Sandler & Co.; Attn: Debt Capital Markets,\n1251 Avenue of the Americas, 6th Floor, New York, 10020, or by email at\nfsg-dcm@psc.com.\n\nAbout Medallion Bank\n\nMedallion Bank specializes in providing consumer loans for the purchase of\nrecreational vehicles, boats, and home improvements, along with loan\norigination services to fintech strategic partners. The Bank works directly\nwith thousands of dealers, contractors and financial service providers serving\ntheir customers throughout the United States. Medallion Bank is a\nUtah-chartered, FDIC-insured industrial bank headquartered in Salt Lake City\nand is a wholly owned subsidiary of Medallion Financial Corp.\n\nFor more information, visit www.medallionbank.com\n\nThis press release contains “forward-looking statements”, which reflect\nMedallion Bank’s current views with respect to future events and which\naddress matters that are, by their nature, inherently uncertain and beyond\nMedallion Bank’s control. These statements are often, but not always, made\nthrough the use of words or phrases such as “expect” and “intend” or\nthe negative version of those words or other comparable words or phrases of a\nfuture or forward-looking nature. These statements relate to the offering of\nshares of the Series G Preferred Stock, the anticipated use of the net\nproceeds by Medallion Bank and the grant to the underwriters of an option to\npurchase additional shares of the Series G Preferred Stock. No assurance can\nbe given that Medallion Bank will decide to redeem its Series E Preferred\nStock or, if it does, the amount to be redeemed and the timing of redemption\nand required regulatory approval. Medallion Bank undertakes no obligation to\npublicly update or revise any forward-looking statements, whether as a result\nof new information, future events or otherwise, except as required by law. For\na description of certain risks to which Medallion Bank is or may be subject,\nplease refer to the factors discussed under the headings “Cautionary Note\nRegarding Forward-Looking Statements” and “Risk Factors,” in Medallion\nBank’s Annual Report on Form 10-K for the year ended December 31, 2025 and\nQuarterly Reports on Form 10-Q for the quarters ended March 31, 2026 and June\n30, 2026.\n\nThis press release does not constitute a notice of redemption with respect to\nthe Series E Preferred Stock.\n\nCompany Contact\n\nInvestor Relations\n212-328-2176\ninvestorrelations@medallion.com\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX62xmpR-20260930","title":"Medallion Bank Announces Closing of Series G Preferred Stock Offering","author":"Globe Newswire","ticker":"MBNKO","created":"2026-09-30T20:05:00.254Z","tickers":["MBNKO","MFIN"],"exchange":"NASDAQ","article_body":"SALT LAKE CITY, Sept. 30, 2026 (GLOBE NEWSWIRE) -- Medallion Bank (Nasdaq:\nMBNKO), an FDIC-insured bank providing consumer loans for the purchase of\nrecreational vehicles, boats, and home improvements, along with loan\norigination services to fintech strategic partners, announced today that it\nhas closed a public offering of 2,200,000 additional shares of its Fixed-Rate\nReset Non-Cumulative Perpetual Preferred Stock, Series G, par value $1.00 per\nshare, with a liquidation amount of $25 per share (the “Series G Preferred\nStock”) and an aggregate liquidation amount of $55 million. The offering\npriced on September 23, 2026. The underwriters have also been granted a 30-day\noption to purchase up to an additional 330,000 shares of the Series G\nPreferred Stock solely to cover over-allotments, if any.\n\nMedallion Bank’s Series G Preferred Stock is traded on the Nasdaq Capital\nMarket under the ticker symbol “MBNKO.” Medallion Bank remains a wholly\nowned subsidiary of Medallion Financial after the completion of the offering.\n\nMedallion Bank intends to use the net proceeds from this offering for general\ncorporate purposes, which may include, among other things, redeeming some or\nall of its outstanding Senior Series E Non-Cumulative Perpetual Preferred\nStock (the “Series E Preferred Stock”), subject to the prior approval of\nthe Federal Deposit Insurance Corporation.\n\nPiper Sandler & Co., Lucid Capital Markets, LLC, Muriel Siebert & Co., LLC,\nA.G.P. / Alliance Global Partners, and Ladenburg Thalmann & Co. Inc. are\nacting as joint book-running managers. William Blair & Company, L.L.C.,\nInspereX LLC, B. Riley Securities, Inc., and Clear Street LLC are acting as\nlead managers.\n\nThe offering of the Medallion Bank’s Series G Preferred Stock was exempt\nfrom the registration requirements of the Securities Act of 1933 pursuant to\nSection 3(a)(2) of that Act and was made only by means of an offering\ncircular. This press release is for informational purposes only and does not\nconstitute an offer to sell or the solicitation of an offer to buy securities,\nand shall not constitute an offer, solicitation or sale in any jurisdiction in\nwhich such offer, solicitation or sale would be unlawful prior to registration\nor qualification under the securities laws of that jurisdiction. The\nsecurities are neither insured nor approved by the Federal Deposit Insurance\nCorporation or any other Federal or state regulatory body.\n\nThe final offering circular relating to the offering is available at\nmedallionbankoffering.com. In addition, copies of the final offering circular\nmay also be obtained from: Piper Sandler & Co.; Attn: Debt Capital Markets,\n1251 Avenue of the Americas, 6th Floor, New York, 10020, or by email at\nfsg-dcm@psc.com.\n\nAbout Medallion Bank\n\nMedallion Bank specializes in providing consumer loans for the purchase of\nrecreational vehicles, boats, and home improvements, along with loan\norigination services to fintech strategic partners. The Bank works directly\nwith thousands of dealers, contractors and financial service providers serving\ntheir customers throughout the United States. Medallion Bank is a\nUtah-chartered, FDIC-insured industrial bank headquartered in Salt Lake City\nand is a wholly owned subsidiary of Medallion Financial Corp.\n\nFor more information, visit www.medallionbank.com\n\nThis press release contains “forward-looking statements”, which reflect\nMedallion Bank’s current views with respect to future events and which\naddress matters that are, by their nature, inherently uncertain and beyond\nMedallion Bank’s control. These statements are often, but not always, made\nthrough the use of words or phrases such as “expect” and “intend” or\nthe negative version of those words or other comparable words or phrases of a\nfuture or forward-looking nature. These statements relate to the offering of\nshares of the Series G Preferred Stock, the anticipated use of the net\nproceeds by Medallion Bank and the grant to the underwriters of an option to\npurchase additional shares of the Series G Preferred Stock. No assurance can\nbe given that Medallion Bank will decide to redeem its Series E Preferred\nStock or, if it does, the amount to be redeemed and the timing of redemption\nand required regulatory approval. Medallion Bank undertakes no obligation to\npublicly update or revise any forward-looking statements, whether as a result\nof new information, future events or otherwise, except as required by law. For\na description of certain risks to which Medallion Bank is or may be subject,\nplease refer to the factors discussed under the headings “Cautionary Note\nRegarding Forward-Looking Statements” and “Risk Factors,” in Medallion\nBank’s Annual Report on Form 10-K for the year ended December 31, 2025 and\nQuarterly Reports on Form 10-Q for the quarters ended March 31, 2026 and June\n30, 2026.\n\nThis press release does not constitute a notice of redemption with respect to\nthe Series E Preferred Stock.\n\nCompany Contact\n\nInvestor Relations\n212-328-2176\ninvestorrelations@medallion.com\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-09-30T20:05:00.388283216Z","server_sent_at_ms":1790798700388},"received_at":"2026-09-30T20:05:00.467Z","source_url":null},"analysis":{"id":"145913","press_release_id":"157236","analysis_json":{"industry":{"label":"Banks","sector":"Financials"},"redFlags":["proceeds may fund Series E preferred redemption only with FDIC approval -- regulatory conditionality","over-allotment option adds up to 15% additional preferred supply"],"eventType":"offering","narrative":"Medallion Bank closed a public offering of 2,200,000 additional shares of its Series G Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, carrying a $25 liquidation preference per share for an aggregate of $55 million.\n\nThe offering priced on September 23, 2026, and underwriters hold a 30-day option for up to 330,000 additional shares to cover over-allotments.\n\nNet proceeds are earmarked for general corporate purposes, potentially including redemption of some or all of the Series E preferred stock, subject to FDIC approval; Medallion Bank remains wholly owned by Medallion Financial.","sentiment":"neutral","agentHooks":{"shouldPost":false,"suggestedAngle":"Routine close of already-priced $55M preferred raise; watch for a Series E redemption notice once FDIC approval lands."},"keyFigures":{"dealValueUsd":55000000,"sharesOffered":2200000,"customDimensions":{"over_allotment_shares":330000,"over_allotment_period_days":30,"liquidation_preference_per_share":25}},"namedEntities":{"people":[],"products":["Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G","Senior Series E Non-Cumulative Perpetual Preferred Stock"],"companies":[{"name":"Medallion Bank","ticker":"MBNKO","relationship":"issuer"},{"name":"Medallion Financial Corp","relationship":"parent company"},{"name":"Piper Sandler & Co.","relationship":"underwriter"},{"name":"Lucid Capital Markets, LLC","relationship":"underwriter"},{"name":"Muriel Siebert & Co., LLC","relationship":"underwriter"},{"name":"A.G.P. / Alliance Global Partners","relationship":"underwriter"},{"name":"Ladenburg Thalmann & Co. Inc.","relationship":"underwriter"},{"name":"William Blair & Company, L.L.C.","relationship":"lead manager"},{"name":"InspereX LLC","relationship":"lead manager"},{"name":"B. Riley Securities, Inc.","relationship":"lead manager"},{"name":"Clear Street LLC","relationship":"lead manager"}],"dollarAmounts":[{"amount":"$55 million","context":"aggregate liquidation amount of Series G Preferred Stock offering"},{"amount":"$25","context":"liquidation amount per share of Series G Preferred Stock"}]},"materialImpact":{"score":2,"reasoning":"Closing of a $55M Series G preferred stock offering already priced on September 23; use of proceeds may include redeeming Series E preferred, subject to FDIC approval. Routine capital-structure event with no surprise elements."},"tickerRelevance":{"others":[],"primary":"MBNKO"},"globalImportance":22,"audienceRelevance":20,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"small-cap","eventGravity":"preferred-offering-close","dilutionImpact":"preferred-level only, no common dilution","issuerAuthored":true}},"event_type":"offering","event_type_secondary":null,"sentiment":"neutral","material_impact_score":2,"narrative":"Medallion Bank closed a public offering of 2,200,000 additional shares of its Series G Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, carrying a $25 liquidation preference per share for an aggregate of $55 million.\n\nThe offering priced on September 23, 2026, and underwriters hold a 30-day option for up to 330,000 additional shares to cover over-allotments.\n\nNet proceeds are earmarked for general corporate purposes, potentially including redemption of some or all of the Series E preferred stock, subject to FDIC approval; Medallion Bank remains wholly owned by Medallion Financial.","key_figures":{"dealValueUsd":55000000,"sharesOffered":2200000,"customDimensions":{"over_allotment_shares":330000,"over_allotment_period_days":30,"liquidation_preference_per_share":25}},"named_entities":{"people":[],"products":["Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G","Senior Series E Non-Cumulative Perpetual Preferred Stock"],"companies":[{"name":"Medallion Bank","ticker":"MBNKO","relationship":"issuer"},{"name":"Medallion Financial Corp","relationship":"parent company"},{"name":"Piper Sandler & Co.","relationship":"underwriter"},{"name":"Lucid Capital Markets, LLC","relationship":"underwriter"},{"name":"Muriel Siebert & Co., LLC","relationship":"underwriter"},{"name":"A.G.P. / Alliance Global Partners","relationship":"underwriter"},{"name":"Ladenburg Thalmann & Co. Inc.","relationship":"underwriter"},{"name":"William Blair & Company, L.L.C.","relationship":"lead manager"},{"name":"InspereX LLC","relationship":"lead manager"},{"name":"B. Riley Securities, Inc.","relationship":"lead manager"},{"name":"Clear Street LLC","relationship":"lead manager"}],"dollarAmounts":[{"amount":"$55 million","context":"aggregate liquidation amount of Series G Preferred Stock offering"},{"amount":"$25","context":"liquidation amount per share of Series G Preferred Stock"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-30T20:05:06.310Z","global_importance":22,"audience_relevance":20,"importance_components":{"tickerTier":"small-cap","eventGravity":"preferred-offering-close","dilutionImpact":"preferred-level only, no common dilution","issuerAuthored":true}},"durationMs":5810,"modelName":"glm-5.3-flashx"}}