Medallion Bank Launches Offering of Series G Preferred Stock
News related to:Medallion Bank · 1 min read
SALT LAKE CITY, Sept. 22, 2026 /CourierPR/ -- Medallion Bank, an FDIC-insured bank specializing in consumer loans for the purchase of recreational vehicles, boats, and home improvements, has announced the launch of a public offering of additional shares of its Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G, with a par value of $1.00 per share and a liquidation amount of $25 per share. This offering is a reopening of Medallion Bank's original issuance of its Series G Preferred Stock, which occurred on May 22, 2025. The bank's Series G Preferred Stock is traded on the Nasdaq Capital Market under the ticker symbol "MBNKO."
The bank intends to use the net proceeds from this offering for general corporate purposes, including the potential redemption of some or all of its outstanding Senior Series E Non-Cumulative Perpetual Preferred Stock, subject to the prior approval of the Federal Deposit Insurance Corporation. Piper Sandler & Co., Lucid Capital Markets, LLC, Muriel Siebert & Co., LLC, A.G.P. / Alliance Global Partners, and Ladenburg Thalmann & Co. Inc. are acting as joint book-running managers, while William Blair & Company, L.L.C., InspereX LLC, B. Riley Securities, Inc., and Clear Street LLC are acting as lead managers.
Medallion Bank has granted the underwriters a 30-day option to purchase additional shares of the Series G Preferred Stock solely to cover over-allotments, if any. The offering is exempt from the registration requirements of the Securities Act of 1933 pursuant to Section 3(a)(2) of that Act and will be made only by means of an offering circular. This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy securities. The securities are neither insured nor approved by the Federal Deposit Insurance Corporation or any other Federal or state regulatory body.
The offering is subject to numerous conditions, many of which are beyond the control of Medallion Bank.