Medallion Bank Announces Benchmark Rate for Certain Preferred Stock
Medallion Bank (Nasdaq: MBNKP) has announced changes to its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F dividend rate calculation. Starting April 1, 2025, the bank will use three-month CME Term SOFR as the benchmark rate for determining dividend rates during the floating rate period.
The dividend payment rate will be determined two U.S. government securities business days before the start of each dividend period. The Series F Preferred Stock continues to trade on the Nasdaq Capital Market under the ticker symbol 'MBNKP'.
Medallion Bank (Nasdaq: MBNKP) ha annunciato modifiche al calcolo del tasso di dividendo delle sue Azioni Preferenziali Perpetue Non Cumulative a Tasso Fisso e Variabile, Serie F. A partire dal 1 aprile 2025, la banca utilizzerà il tasso di riferimento CME Term SOFR a tre mesi per determinare i tassi di dividendo durante il periodo a tasso variabile.
Il tasso di pagamento del dividendo sarà determinato due giorni lavorativi prima dell'inizio di ciascun periodo di dividendo per i titoli di stato americani. Le Azioni Preferenziali Serie F continuano a essere scambiate sul Nasdaq Capital Market con il simbolo 'MBNKP'.
Medallion Bank (Nasdaq: MBNKP) ha anunciado cambios en el cálculo de la tasa de dividendo de sus Acciones Preferentes Perpetuas No Acumulativas a Tasa Fija y Variable, Serie F. A partir del 1 de abril de 2025, el banco utilizará el CME Term SOFR a tres meses como tasa de referencia para determinar las tasas de dividendo durante el período de tasa variable.
La tasa de pago de dividendos se determinará dos días hábiles de valores del gobierno de EE. UU. antes del inicio de cada período de dividendo. Las Acciones Preferentes de la Serie F continúan negociándose en el Nasdaq Capital Market bajo el símbolo 'MBNKP'.
메달리온 뱅크 (Nasdaq: MBNKP)는 고정-변동 비누적 영구 우선주 시리즈 F의 배당금 계산 방식을 변경한다고 발표했습니다. 2025년 4월 1일부터, 은행은 변동 금리 기간 동안 배당금 비율을 결정하기 위한 기준 금리로 3개월 CME Term SOFR를 사용할 것입니다.
배당금 지급 비율은 각 배당 기간 시작 이틀 전의 미국 정부 채권 영업일 기준으로 결정됩니다. 시리즈 F 우선주는 'MBNKP'라는 티커 기호로 Nasdaq 자본 시장에서 계속 거래됩니다.
Medallion Bank (Nasdaq: MBNKP) a annoncé des modifications concernant le calcul du taux de dividende de ses Actions Préférentielles Permanentes Non Cumulatives à Taux Fixe et Variable, Série F. À partir du 1er avril 2025, la banque utilisera le CME Term SOFR à trois mois comme taux de référence pour déterminer les taux de dividende pendant la période à taux variable.
Le taux de paiement des dividendes sera déterminé deux jours ouvrables avant le début de chaque période de dividende pour les titres du gouvernement américain. Les Actions Préférentielles Série F continuent d'être négociées sur le Nasdaq Capital Market sous le symbole 'MBNKP'.
Medallion Bank (Nasdaq: MBNKP) hat Änderungen bei der Berechnung des Dividendenzinses seiner nicht kumulierten, ewigen, fest-zu-variable Vorzugsaktien der Serie F angekündigt. Ab dem 1. April 2025 wird die Bank den 3-Monats-CME-Term-SOFR als Referenzzinssatz zur Bestimmung der Dividenden während der variablen Zinsperiode verwenden.
Der Dividendenzahlungssatz wird zwei Geschäftstage vor Beginn jedes Dividendenzeitraums für US-Staatsanleihen festgelegt. Die Vorzugsaktien der Serie F werden weiterhin unter dem Tickersymbol 'MBNKP' am Nasdaq Capital Market gehandelt.
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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.”
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
Company Contact:
Investor Relations
212-328-2176
InvestorRelations@medallion.com
FAQ
What benchmark rate will MBNKP use for Series F Preferred Stock dividends after April 1, 2025?
When does Medallion Bank's Series F Preferred Stock transition to floating rate period?
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