Medallion Bank announced its intention to redeem all outstanding shares of its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F, on July 1, 2025. The redemption price is set at $25.00 per share.
The redemption date coincides with a regular dividend payment date for the Series F Preferred Stock. Therefore, any declared and unpaid dividends will be paid separately to holders of record in the customary manner.
Following the redemption date, the Series F Preferred Stock will no longer be considered outstanding, and dividends on these shares will cease to accrue. This action represents a strategic capital management decision, potentially optimizing the bank's funding costs and capital structure.
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