Medallion Bank Closes $55M Series G Preferred Stock Offering
Medallion Bank sold 2.2 million preferred shares at $25 each, raising $55 million in a public offering that closed Sept. 30.
Medallion Bank (Nasdaq: MBNKO) closed a public offering of its Series G Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock on September 30, 2026, raising $55 million in aggregate liquidation value, the Salt Lake City-based lender announced.
The offering comprised 2,200,000 shares priced at $25 per share, with a par value of $1.00 per share. The deal was priced on September 23, 2026, roughly one week before the closing date.
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Underwriters were granted a 30-day option to purchase up to an additional 330,000 shares solely to cover any over-allotments, a standard provision that could modestly increase total proceeds if exercised.
Medallion Bank is an FDIC-insured institution focused on consumer lending for recreational vehicles, boats, and home improvements, as well as loan origination services for fintech strategic partners. The preferred stock offering represents a capital-raising move consistent with banks seeking to bolster regulatory capital buffers or fund lending growth.
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