StockNews.AI

Medallion Bank Announces Executive Promotions

StockNews.AI • 36 minutes

MBNKOJPMBACWFC
High Materiality8/10

Information

SALT LAKE CITY, Jan. 12, 2026 (GLOBE NEWSWIRE) -- Medallion Bank (Nasdaq: MBNKO, the “Bank”), an FDI...

Original source

AI Summary

Justin Haley promoted to President of Medallion Bank. Travis Betenson appointed as SVP and CFO of Medallion Bank. Both promotions aimed at strengthening Bank's leadership for growth. Medallion Bank focuses on consumer loans and fintech partnerships. Executive changes signal positive strategic direction for Medallion Financial Corp.

Sentiment Rationale

Leadership changes often enhance operational performance, suggesting potential stock price increase, as seen with companies like JPMorgan during leadership transitions.

Trading Thesis

Immediate positive sentiment usually surrounds executive promotions, leading to potential short-term stock price gains.

Market-Moving

  • Justin Haley promoted to President of Medallion Bank.
  • Travis Betenson appointed as SVP and CFO of Medallion Bank.
  • Both promotions aimed at strengthening Bank's leadership for growth.

Key Facts

  • Justin Haley promoted to President of Medallion Bank.
  • Travis Betenson appointed as SVP and CFO of Medallion Bank.
  • Both promotions aimed at strengthening Bank's leadership for growth.
  • Medallion Bank focuses on consumer loans and fintech partnerships.
  • Executive changes signal positive strategic direction for Medallion Financial Corp.

Companies Mentioned

  • MBNKO (MBNKO)
  • JPM (JPM)
  • BAC (BAC)
  • WFC (WFC)

Corporate Developments

Leadership sustainability and expertise can increase investor confidence, positively influencing stock performance.

Medallion Bank Announces Key Executive Promotions

SALT LAKE CITY, Jan. 12, 2026 (GLOBE NEWSWIRE) -- Medallion Bank (Nasdaq: MBNKO), a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN), has announced significant leadership changes aimed at enhancing its strategic operations. Effective January 12, 2026, Justin Haley has been promoted to President of the Bank, while Travis Betenson has been elevated to Senior Vice President and Chief Financial Officer.

Leadership Experience of New Executives

Justin Haley brings over 30 years of extensive banking experience to his new role as President. He joined Medallion Bank in November 2011 as Vice President of Home Improvement Lending and quickly established himself by assembling a team that successfully launched and managed this vital business line.

Haley further advanced to become the Bank’s Senior Vice President and Chief Operating Officer in 2015, overseeing the insourcing of the Bank's information technology functions and leading its first public preferred stock offering. Most recently, he served as Executive Vice President and Chief Financial Officer.

Travis Betenson's Rapid Ascent

Travis Betenson joined Medallion Bank in January 2024 as Vice President of Finance. He quickly climbed the ranks to become Senior Vice President of Finance within the same year due to his impressive track record. With over 15 years of experience in banking leadership, Betenson previously held the Chief Financial Officer position at two industrial banks in Utah: First Electronic Bank and Milestone Bank.

In addition to his professional achievements, Betenson actively contributes to community initiatives as a board member for Junior Achievement of Utah, focusing on youth financial literacy and education.

CEO's Vision and Future Outlook

Donald Poulton, Chief Executive Officer, expressed enthusiasm regarding these promotions, stating, “This is an exciting time for Medallion Bank. When Justin joined us in 2011, it was immediately clear that he possessed the knowledge, work ethic, and leadership skills to one day serve as its President.”

Poulton emphasized that Betenson's addition two years ago created the path for this leadership transition, highlighting the synergy between Haley and Betenson. Together, along with Chief Lending Officer Steve Hannay, they form a robust executive team poised to drive the Bank’s growth and success.

About Medallion Bank

Medallion Bank specializes in consumer loans for recreational vehicles, boats, and home improvements, and provides loan origination services to strategic fintech partners. The Bank collaborates with thousands of dealers, contractors, and financial service providers across the United States.

As a Utah-chartered, FDIC-insured industrial bank, Medallion Bank is dedicated to delivering exceptional financial products while ensuring compliance and reliability. For more information, visit www.medallionbank.com.

Contact Information

Related News