Davis Polk advised the underwriters in connection with Medallion Bank’s initial public offering of 1,840,000 shares of Series F Preferred Shares, with an aggregate liquidation amount of $46 million. The Series F Preferred Shares are listed on the Nasdaq Capital Market under the ticker symbol “MBNKP.”
Medallion Bank is a Utah-chartered, FDIC-insured industrial bank headquartered in Salt Lake City, Utah. Medallion Bank specializes in providing consumer loans for the purchase of recreational vehicles, boats and trailers and for home improvements such as replacement windows and roofs.
The Davis Polk capital markets team included partner John G. Crowley and associates Michael Despres and Daniel Chao. The bank regulatory team included counsel Daniel E. Newman and associate Brooklynn Moore. The tax team included partner Po Sit and associate Talya Presser. All members of the Davis Polk team are based in the New York office.