Global Financial Institutions Unveil Key Interest Rate for Priority Securities

Medallion Bank Announces Benchmark Rate for Certain Preferred Stock

March 28, 2025 - Salt Lake City, Utah - Medallion Bank, a Utah-chartered industrial bank, today announced that it has established a benchmark rate for certain preferred stock issued by the bank.

The benchmark rate, which will serve as a reference point for the bank's preferred stock, is the three-month London Interbank Offered Rate (LIBOR) plus 4.5%. This rate will be used to determine the interest rate payable on the preferred stock, which is currently priced at $25 per share.

"We are pleased to announce the establishment of this benchmark rate, which reflects the bank's commitment to transparency and consistency in its financial dealings," said Medallion Bank's CEO, [Name]. "This rate will provide a clear and predictable framework for investors and will help us to maintain our position as a reliable and stable financial institution."

The preferred stock is designed to appeal to investors seeking a stable source of income and is available to institutional investors and high-net-worth individuals. The bank plans to use the proceeds from the sale of the preferred stock to support its growth and expansion plans.

Medallion Bank is a Utah-chartered industrial bank that provides a range of financial services to businesses and individuals. The bank is headquartered in Salt Lake City, Utah, and has a strong reputation for its commitment to customer service and community involvement.