Siebert Participates in Medallion Bank’s Series G Preferred Offering

Medallion Bank(Nasdaq: MBNKP, MBNKO), an FDIC-insured bank providing consumerloans for the purchase of recreational vehicles, boats, and homeimprovements, along with loan origination services to fintech strategicpartners, announced today that it has closed a public offering of3,100,000 shares of its Fixed-Rate Reset Non-Cumulative PerpetualPreferred Stock, Series G, par value $1.00 per share, with a liquidationamount of $25 per share (the “Series G Preferred Stock”) and anaggregate liquidation amount of $77.5 million, which includes a partialexercise of the underwriters’option to purchase an additional 100,000shares of the Series G Preferred Stock. The offering priced on May 15, 2025.

Medallion Bank’s Series G Preferred Stock commenced trading on theNasdaq Capital Market under the ticker symbol “MBNKO”on May 22,2025. Medallion Bank remains a wholly owned subsidiary of Medallion Financial after the completion of the offering.

Medallion Bank intends to use the net proceeds from this offering forgeneral corporate purposes, which may include, among other things,increasing Medallion Bank’s capital levels,growing its consumer loan portfolios or redeeming some or all of itsoutstanding Series F Non-Cumulative Perpetual Preferred Stock (the“Series F Preferred Stock”), subject to the prior approval of the FederalDeposit Insurance Corporation.

Piper Sandler & Co. and Lucid Capital Markets, LLC acted as joint book-running managers. A.G.P./Alliance Global Partners, B. Riley Securities, Inc., InspereX LLC, Ladenburg Thalmann & Co. Inc., Muriel Siebert & Co., LLC.

The offering of the Medallion Bankʼs Series G Preferred Stock was exempt from the registration requirements of the Securities Act of 1933 pursuant to Section 3(a)(2) of that Act and was made only by means of an offering circular. This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy securities, and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction. The securities are neither insured nor approved by the Federal Deposit Insurance Corporation or any other Federal or state regulatory body. The final offering circular relating to the offering is available at medallionbankoffering.com. In addition, copies of the final offering circular may also be obtained from: Piper Sandler & Co.; Attn: Debt Capital Markets, 1 Greenwich Plaza, 1st Floor, Suite 111, Greenwich, CT 06830, or by email at fsg-dcm@psc.com.