Medallion Bank Announces Pricing of Series G Preferred Stock Offering

Medallion Bank priced a public offering of 2.2 million shares of Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G, with an aggregate liquidation amount of $55 million. The offering features a 9.00% fixed dividend rate through July 1, 2030, then converts to a floating rate. The bank plans to use net proceeds for general corporate purposes, potentially including redemption of its Series E Preferred Stock. The offering is expected to close on September 30, 2026.