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Medallion Bank Reset Rate Non-Cumulative Perpetual Preferred Stock, Ser G
Ticker Symbol: MBNKO CUSIP: 58404D309 Exchange: NGS
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Medallion Bank, Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock,, Series G, liquidation preference $25 per share, redeemable at the issuer's option on 07/01/2030 and every July 1st in every fifth year thereafter at $25 per share plus declared and unpaid dividends, and with no stated maturity. Non-cumulative distributions of the Annual Fixed Dividend Rate will be paid quarterly on 1/1, 4/1, 7/1 & 10/1 to holders of record on the record date fixed by the board, not more than 60 days or less than 30 days prior to the payment date (NOTE: the ex-dividend date is the record date). The Annual Fixed Dividend Rate will be 9.0% until the first redemption date, then it will be equal to the sum of the five-year U.S. Treasury rate ) on the applicable fixed rate calculation date plus 4.94%, resetting every 5 years thereafter on applicable fixed rate calculation date (see prospectus for more details). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders(see the prospectus for further information). This security is possibly subject to an early call as a result of the occurrence of a regulatory capital treatment event which no longer allows the company to include the funds originating from this security as Tier 1 capital on their balance sheet (see the prospectus for further information). In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information.
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Go to Parent Company's Record (MFIN)
Notes: This bank is subject to the information reporting requirements of the Securities Exchange Act of 1934, as amended (the Exchange Act), as administered and enforced by the Federal Deposit Insurance Corporation and is subject to FDIC rules promulgated thereunder. Consequently, they file annual, quarterly and current reports, proxy statements and other information with the FDIC, copies of which are made available to the public over the Internet at https://efr.fdic.gov/fcxweb/efr/index.html under FDIC #57449.
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IPO - 5/16/2025 - 3.45 Million Shares @ $25/share.
Previous Ticker Symbol: MBNKG Changed: 5/22/2025
Click for current MBNKO price quote from the NASDAQ
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's SEC EDGAR Filings |
None Found |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 437 Madison Avenue, 38th Floor, New York, NY 10022 |
| Main Phone Number |
212-328-2100 |
| Fax Number |
212-328-2121 |
| Investor Contact
Alex Arzeno
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212-328-2176
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| Toll Free Phone Number |
877-633-2554 |
| CEO - Alvin M. Murstein |
CFO - Anthony N. Cutrone |
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