Medallion Bank Announces Executive Promotions
Rhea-AI Summary
Medallion Bank (Nasdaq: MFIN) announced executive promotions effective January 12, 2026: Justin Haley was promoted to President of the Bank and Travis Betenson was promoted to SVP and Chief Financial Officer. Haley, with more than 30 years of banking experience, joined the Bank in November 2011 and previously served as EVP and CFO; he led IT insourcing and completed the Bank’s first public preferred stock offering. Betenson, with over 15 years of banking leadership, joined in January 2024 and will report to Haley. Both appointments support the Bank’s executive continuity under CEO Donald Poulton.
Positive
- Promotions effective Jan 12, 2026 provide clear leadership continuity
- Justin Haley: 30+ years banking experience and internal succession from CFO to President
- Justin Haley led IT insourcing and the Bank’s first public preferred stock offering
- Travis Betenson: 15+ years banking leadership and internal promotion to CFO
Negative
- None.
News Market Reaction
On the day this news was published, MFIN declined 0.59%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
MFIN was down 1.74% while peers were mixed: FOA +6.54%, LPRO +0.28%, OPRT -1.13%, CPSS -0.76%, PMTS -1.08%, suggesting a stock-specific move rather than a sector-wide shift.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 25 | Investor conferences | Neutral | +2.4% | Announcement of participation in two investor conferences with webcast access. |
| Nov 06 | Conference participation | Neutral | -0.1% | Management presenting at Piper Sandler financial services conference. |
| Oct 29 | Q3 2025 results | Positive | -4.3% | Reported higher ex-charge net income, loan growth, and declared dividend. |
| Oct 29 | Bank Q3 & dividend | Positive | -4.3% | Medallion Bank posted higher net income and declared Series G preferred dividend. |
| Oct 28 | Leadership transition | Positive | -4.3% | Planned CEO succession with emphasis on continuity and prior record earnings. |
Recent fundamental and leadership updates have often met with negative price reactions, even when operational metrics or succession framing appeared constructive.
Over the past few months, Medallion’s news flow has focused on earnings, the bank subsidiary, and leadership. On Oct 28, 2025, a planned CEO transition and strong prior performance coincided with a -4.32% move. The next day, both Medallion Financial and Medallion Bank reported solid third quarter 2025 results, yet the stock again moved -4.32%. Subsequent conference participation announcements on Nov 6 and Nov 25, 2025 saw relatively modest moves. Today’s Medallion Bank executive promotions fit into this ongoing management-focused narrative.
Market Pulse Summary
This announcement centers on leadership continuity at Medallion Bank, with Justin Haley advancing to President and Travis Betenson to SVP and Chief Financial Officer effective January 12, 2026. The promotions follow years of internal experience and prior roles in industrial banks. In context of earlier earnings strength and a planned CEO transition at the parent company, investors may watch how this executive team manages loan growth, credit performance, and funding costs across consumer and strategic partnership channels.
Key Terms
fdic-insured regulatory
preferred stock financial
AI-generated analysis. Not financial advice.
SALT LAKE CITY, Jan. 12, 2026 (GLOBE NEWSWIRE) -- Medallion Bank (Nasdaq: MBNKO, 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, is pleased to announce Justin Haley’s promotion to President of the Bank and Travis Betenson’s promotion to SVP and Chief Financial Officer. Both appointments were effective January 12, 2026. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN).
Mr. Haley has more than 30 years of experience in industrial, community and regional banks. He joined the Bank in November 2011 as its VP of Home Improvement Lending, bringing with him the team that built and operated that business line. He became the Bank’s SVP and Chief Operating Officer in 2015 and led the insourcing of the Bank’s information technology functions along with completing the Bank’s first public preferred stock offering. In 2021, Mr. Haley was appointed EVP and Chief Financial Officer. Mr. Haley will continue to report to Chief Executive Officer Donald Poulton.
Mr. Betenson joined the Bank in January 2024 as VP of Finance and was promoted to SVP of Finance later that year. He has more than 15 years of banking leadership experience, having previously served as Chief Financial Officer for two of Utah’s industrial banks, First Electronic Bank and Milestone Bank. In addition to his professional roles, Mr. Betenson serves as a board member for Junior Achievement of Utah, supporting youth financial literacy and education initiatives. Mr. Betenson will continue to report to Mr. Haley.
“This is an exciting time for Medallion Bank,” said Donald Poulton, Chief Executive Officer. “When Justin joined us in 2011, it was immediately clear that he possessed the knowledge, work ethic and leadership skills to one day serve as its President. The ability to elevate Justin into this new role started coming together two years ago with the addition of Travis Betenson, whose experience and expertise positioned him perfectly to succeed Justin as Chief Financial Officer. Justin and Travis collaborate seamlessly, and along with Steve Hannay, our Chief Lending Officer, they form the strong executive core driving the Bank’s continued growth and success.”
About Medallion Bank
Medallion Bank specializes in providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners. The Bank works directly with thousands of dealers, contractors and financial service providers serving their customers throughout the United States. Medallion Bank is a Utah-chartered, FDIC-insured industrial bank headquartered in Salt Lake City and is a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN). For more information, visit www.medallionbank.com.
| Contacts: | |
| Investor Relations: | Ken Cooper |
| investorrelations@medallion.com | |
| Public Relations: | Christopher Liechty |
| cliechty@medallionbank.com |
FAQ
What leadership changes did Medallion Bank (MFIN) announce on January 12, 2026?
Who will Justin Haley report to after his promotion at Medallion Bank (MFIN)?
What relevant experience does the new Medallion Bank (MFIN) President Justin Haley have?
When did Travis Betenson join Medallion Bank and what role will he hold (MFIN)?
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