Medallion Bank Announces Benchmark Rate for Certain Preferred Stock

Provided By GlobeNewswire

Last update: Mar 28, 2025

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 Nasdaq Capital Market under the ticker symbol “MBNKP.”