If You Invested in Medallion BK Utah (MBNKO)

Medallion Bank Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series G, par value $1.00 per share (trading under the symbol MBNKO), represents a class of preferred equity issued by Medallion Financial Corp. Medallion Financial Corp. is a Delaware corporation that reports as a public company and files periodic and current reports with the U.S. Securities and Exchange Commission. The MBNKO preferred shares are structured as non-cumulative, perpetual preferred stock with a fixed-rate reset feature, and a stated par value of $1.00 per share.

According to available information, Medallion Bank, an affiliate within the Medallion Financial Corp. structure, is engaged in providing consumer loans, raising deposits, and managing other banking activities. The bank offers financing connected to home improvement contractors and recreation-related purchases, and operates through segments described as Recreation, Home Improvement, and Other. The issuer of the MBNKO preferred stock, Medallion Financial Corp., reports its material events and corporate actions through Form 8-K filings.

Issuer background

Medallion Financial Corp. is identified in SEC filings as a Delaware corporation with a Commission File Number of 001-37747 and a federal employer identification number of 04-3291176. The company files current reports on Form 8-K that address topics such as results of operations and financial condition, executive employment arrangements, and amendments to its bylaws. These filings provide context for investors evaluating the preferred stock, including governance changes and financial reporting updates at the issuer level.

In a Form 8-K filed for a reporting date in October 2025, Medallion Financial Corp. reported that it issued a press release announcing its results for a quarter ended September 30, 2025, under Item 2.02 (Results of Operations and Financial Condition). In a separate Form 8-K dated in October 2025, the company disclosed amendments to employment agreements for senior executives and amendments to its bylaws to provide for the role of Executive Chairman of the Board. These filings illustrate the type of corporate information that can affect the broader capital structure in which the MBNKO preferred stock exists.

Business activities of Medallion Bank

Polygon data describing Medallion Bank indicates that it is engaged in providing consumer loans, raising deposits, and managing banking activities. The bank offers what it describes as affordable financing for home improvement contractors, including projects such as window, siding, and roof replacements; kitchen, bath, and basement remodels; HVAC (Heating Ventilation and Air Conditioning); and solar PV installations. Medallion Bank also offers recreation financing for new and used motorhomes, towable RVs, truck campers, cargo trailers, utility trailers, horse trailers, and a variety of ATVs and other power sport vehicles.

The bank organizes its activities into segments identified as Recreation, Home Improvement, and Other, with the Recreation segment described as generating the maximum revenue among these segments. This segment structure provides insight into the types of consumer lending that support the broader Medallion platform in which the preferred stock is issued.

Security characteristics

The MBNKO security is described as a fixed-rate reset non-cumulative perpetual preferred stock, Series G, with a par value of $1.00 per share. As a non-cumulative preferred stock, dividends that are not declared in a given period do not accumulate for future payment. The perpetual nature of the security means it does not have a stated maturity date, and the fixed-rate reset feature indicates that the dividend rate is structured to reset according to terms specified in the applicable offering documents. These structural elements define how the preferred stock fits within the issuer’s capital structure and how distributions may be paid, subject to the issuer’s discretion and any regulatory or contractual constraints.

Relationship to Medallion Financial Corp. filings

Medallion Financial Corp.’s Form 8-K filings provide information about events that can be relevant to holders of MBNKO, such as financial results, changes in executive leadership, and amendments to corporate governance documents. For example, a Form 8-K dated in October 2025 describes an amendment to the employment agreement of the Chairman of the Board and Chief Executive Officer, including a planned transition to the role of Executive Chairman of the Board and related compensation and equity award provisions. The same filing describes an amendment to the employment agreement of the company’s President and Chief Operating Officer, specifying a transition to the roles of President, Chief Executive Officer, and Chief Operating Officer.

The October 2025 Form 8-K also notes that the Board adopted Fourth Amended and Restated By-Laws to allow the Board to elect an Executive Chairman and to define the duties of that role. These governance changes, along with periodic financial disclosures reported in other filings, form part of the information environment in which investors evaluate the MBNKO preferred stock.

Use of information for investors

Investors researching MBNKO may consider both the security’s structural terms and the operating profile of Medallion Bank and Medallion Financial Corp. The description of Medallion Bank’s lending activities in home improvement and recreation, along with the segment information (Recreation, Home Improvement, and Other), provides context about the types of assets and revenue sources that may support the issuer’s ability to pay dividends on its preferred stock, subject to applicable priorities and restrictions. At the same time, Medallion Financial Corp.’s SEC filings offer insight into governance, executive arrangements, and reported financial results at the corporate level.

Because MBNKO is a preferred equity security rather than a common stock, its risk and return characteristics differ from those of common equity and debt instruments. The non-cumulative, perpetual, and fixed-rate reset features are central to understanding how distributions may be paid and how the security may behave under different corporate and market conditions, as described in the security’s governing documents.