Medallion Bank operates as an industrial bank in the United States. The company operates through four segments: Recreation Lending, Home Improvement Lending, Medallion Lending, and Other. It provides consumer loans to purchase recreational vehicles, boats, horse and cargo trailers, and utility trailers. The company also offers financing for windows, siding, and roof replacement; swimming pool and solar system installation; kitchen, bath, and basement remodels; sunroom addition; patio, deck, and outdoor kitchen replacement; and other home improvement projects. It offers its products through the network of dealers, contractors, and financial service providers. The company was founded in 2002 and is headquartered in Salt Lake City, Utah. Medallion Bank is a subsidiary of Medallion Financial Corp.
IPO Year: 2019
Exchange: NASDAQ
Website: medallionbank.com
SALT LAKE CITY, April 30, 2025 (GLOBE NEWSWIRE) -- Medallion Bank (NASDAQ:MBNKP, the "Bank")), 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 its results for the quarter ended March 31, 2025. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (NASDAQ:MFIN). 2025 First Quarter Highlights Net income of $15.6 million, compared to $14.5 million in the prior year quarter.Net interest income of $52.2 million, compared to $48.2 million in the prior year quarter.Net interest margin of 8.35%, compared to 8.59% in the prior year
SALT LAKE CITY, March 28, 2025 (GLOBE NEWSWIRE) -- Medallion Bank (NASDAQ:MBNKP, the "Bank")) today announced that, upon the commencement of the floating rate period for the Bank's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F (the "Series F Preferred") on April 1, 2025, the benchmark rate used to determine the dividend rate for each dividend period during the floating rate period will be three-month CME Term SOFR ("Term SOFR"). In addition, the dividend payment rate determination date for determining Term SOFR will be the second U.S. government securities business day preceding the first day of the relevant dividend period. The Series F Preferred trades on the
SALT LAKE CITY, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Medallion Bank (NASDAQ:MBNKP, the "Bank")), an FDIC-insured bank specializing in consumer loans for the purchase of recreational vehicles, boats, and home improvements, as well as loan products and services offered through fintech strategic partners, today announced its results for the quarter and year ended December 31, 2024. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (NASDAQ:MFIN). 2024 Fourth Quarter Highlights Net income of $15.6 million, compared to $21.9 million in the prior year quarter.Net interest income of $53.1 million, compared to $48.9 million in the prior year quarter.Net interest margin of 8.28%, com
SALT LAKE CITY, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Medallion Bank (NASDAQ:MBNKP, the "Bank")), an FDIC-insured bank specializing in consumer loans for the purchase of recreational vehicles, boats, and home improvements, as well as loan products and services offered through fintech strategic partners, today announced its results for the quarter ended September 30, 2024. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (NASDAQ:MFIN). 2024 Third Quarter Highlights Net income of $15.5 million, compared to $17.2 million in the prior year quarter.Net interest income of $53.2 million, compared to $48.7 million in the prior year quarter.Net interest margin of 8.44%, compared to
SALT LAKE CITY, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Medallion Bank (NASDAQ:MBNKP), an FDIC-insured bank specializing in consumer loans for the purchase of recreational vehicles, boats, and home improvements, as well as loan products and services offered through fintech strategic partners, today announced a strategic partnership with Kashable, a leading fintech company dedicated to providing socially responsible credit and financial wellness solutions. This collaboration builds on Medallion Bank's existing nationwide financing footprint while expanding Kashable's services to a broader audience, offering working Americans access to affordable personal loans. "Adding Kashable to our growing s
SALT LAKE CITY, July 30, 2024 (GLOBE NEWSWIRE) -- Medallion Bank (NASDAQ:MBNKP, the "Bank"))), 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 its results for the quarter ended June 30, 2024. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (NASDAQ:MFIN). 2024 Second Quarter Highlights Net income of $15.0 million, compared to $19.3 million in the prior year quarter.Net interest income of $50.2 million, compared to $47.0 million in the prior year quarter.Net interest margin of 8.55%, compared to 8.91% in the prior
SALT LAKE CITY, April 30, 2024 (GLOBE NEWSWIRE) -- Medallion Bank (NASDAQ:MBNKP, the "Bank"))), 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 its results for the quarter ended March 31, 2024. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (NASDAQ:MFIN). 2024 First Quarter Highlights Net income of $14.5 million, compared to $21.4 million in the prior year quarter.Net interest income of $48.2 million with a net interest margin of 8.59%, compared to $44.3 million and 9.05% in the prior year quarter.Total provision fo
SALT LAKE CITY, April 11, 2024 (GLOBE NEWSWIRE) -- Medallion Bank (NASDAQ:MBNKP, the "Bank"))), an FDIC-insured bank providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with offering loan products and services through fintech strategic partners, announced today it had entered into a definitive agreement with TriBeam Financial, Inc. (TriBeam Financial) to be its finance partner for home solar systems and related products. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (NASDAQ:MFIN). TriBeam Financial is a fintech company that provides a point-of-sale lending platform for residential solar equipment and home improvement
SALT LAKE CITY, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Medallion Bank (NASDAQ:MBNKP, the "Bank"))), 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 its results for the quarter and full-year ended December 31, 2023. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (NASDAQ:MFIN). 2023 Fourth Quarter Highlights Net income of $21.9 million, compared to $19.7 million in the prior year quarter.Net interest income of $48.9 million with a net interest margin of 8.62%, compared to $44.4 million and 9.19%
SALT LAKE CITY, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Medallion Bank (NASDAQ:MBNKP, the "Bank"))), 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 its results for the quarter ended September 30, 2023. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (NASDAQ:MFIN). 2023 Third Quarter Highlights Quarterly net income of $17.2 million, compared to $18.3 million in the prior year quarter.Net interest income of $48.7 million with a net interest margin of 8.7%, compared to $43.0 million and 9.3% in the prior year quarter.Total p
SALT LAKE CITY, April 30, 2025 (GLOBE NEWSWIRE) -- Medallion Bank (NASDAQ:MBNKP, the "Bank")), 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 its results for the quarter ended March 31, 2025. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (NASDAQ:MFIN). 2025 First Quarter Highlights Net income of $15.6 million, compared to $14.5 million in the prior year quarter.Net interest income of $52.2 million, compared to $48.2 million in the prior year quarter.Net interest margin of 8.35%, compared to 8.59% in the prior year
SALT LAKE CITY, March 28, 2025 (GLOBE NEWSWIRE) -- Medallion Bank (NASDAQ:MBNKP, the "Bank")) today announced that, upon the commencement of the floating rate period for the Bank's Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F (the "Series F Preferred") on April 1, 2025, the benchmark rate used to determine the dividend rate for each dividend period during the floating rate period will be three-month CME Term SOFR ("Term SOFR"). In addition, the dividend payment rate determination date for determining Term SOFR will be the second U.S. government securities business day preceding the first day of the relevant dividend period. The Series F Preferred trades on the
SALT LAKE CITY, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Medallion Bank (NASDAQ:MBNKP, the "Bank")), an FDIC-insured bank specializing in consumer loans for the purchase of recreational vehicles, boats, and home improvements, as well as loan products and services offered through fintech strategic partners, today announced its results for the quarter and year ended December 31, 2024. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (NASDAQ:MFIN). 2024 Fourth Quarter Highlights Net income of $15.6 million, compared to $21.9 million in the prior year quarter.Net interest income of $53.1 million, compared to $48.9 million in the prior year quarter.Net interest margin of 8.28%, com
SALT LAKE CITY, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Medallion Bank (NASDAQ:MBNKP, the "Bank")), an FDIC-insured bank specializing in consumer loans for the purchase of recreational vehicles, boats, and home improvements, as well as loan products and services offered through fintech strategic partners, today announced its results for the quarter ended September 30, 2024. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (NASDAQ:MFIN). 2024 Third Quarter Highlights Net income of $15.5 million, compared to $17.2 million in the prior year quarter.Net interest income of $53.2 million, compared to $48.7 million in the prior year quarter.Net interest margin of 8.44%, compared to
SALT LAKE CITY, July 30, 2024 (GLOBE NEWSWIRE) -- Medallion Bank (NASDAQ:MBNKP, the "Bank"))), 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 its results for the quarter ended June 30, 2024. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (NASDAQ:MFIN). 2024 Second Quarter Highlights Net income of $15.0 million, compared to $19.3 million in the prior year quarter.Net interest income of $50.2 million, compared to $47.0 million in the prior year quarter.Net interest margin of 8.55%, compared to 8.91% in the prior
SALT LAKE CITY, April 30, 2024 (GLOBE NEWSWIRE) -- Medallion Bank (NASDAQ:MBNKP, the "Bank"))), 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 its results for the quarter ended March 31, 2024. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (NASDAQ:MFIN). 2024 First Quarter Highlights Net income of $14.5 million, compared to $21.4 million in the prior year quarter.Net interest income of $48.2 million with a net interest margin of 8.59%, compared to $44.3 million and 9.05% in the prior year quarter.Total provision fo
SALT LAKE CITY, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Medallion Bank (NASDAQ:MBNKP, the "Bank"))), 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 its results for the quarter and full-year ended December 31, 2023. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (NASDAQ:MFIN). 2023 Fourth Quarter Highlights Net income of $21.9 million, compared to $19.7 million in the prior year quarter.Net interest income of $48.9 million with a net interest margin of 8.62%, compared to $44.4 million and 9.19%
SALT LAKE CITY, Oct. 30, 2023 (GLOBE NEWSWIRE) -- Medallion Bank (NASDAQ:MBNKP, the "Bank"))), 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 its results for the quarter ended September 30, 2023. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (NASDAQ:MFIN). 2023 Third Quarter Highlights Quarterly net income of $17.2 million, compared to $18.3 million in the prior year quarter.Net interest income of $48.7 million with a net interest margin of 8.7%, compared to $43.0 million and 9.3% in the prior year quarter.Total p
SALT LAKE CITY, July 27, 2023 (GLOBE NEWSWIRE) -- Medallion Bank (NASDAQ:MBNKP, the "Bank"))), 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 its results for the quarter ended June 30, 2023. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (NASDAQ:MFIN). 2023 Second Quarter Highlights Quarterly net income of $19.3 million, compared to $17.9 million in the prior year quarter.Net interest income of $47.0 million with a net interest margin of 8.9%, compared to $40.0 million and 9.5% in the prior year quarter.Total p
SALT LAKE CITY, April 28, 2023 (GLOBE NEWSWIRE) -- Medallion Bank (NASDAQ:MBNKP, the "Bank"))), 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 its results for the quarter ended March 31, 2023. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (NASDAQ:MFIN). 2023 First Quarter Highlights Record quarterly net income of $21.4 million, compared to $18.8 million in the prior year quarter.Net interest income of $44.3 million with a net interest margin of 9.05%, compared to $37.2 million and 9.66% in the prior year quarter.P