MFIN - Medallion Financial announces $35M stock buyback plan

Medallion Financial (NASDAQ:MFIN) has replaced its existing stock repurchase program with a new $35M stock repurchase program. Additionally, the finance company announced changes to its board and corporate governance. Brent Hatch joined the firm's board in the newly created role of Lead Independent Director, effective immediately. Hatch has also joined the Audit Committee, Nominating and Governance Committee and Investment Oversight Committee of the Board. The appointment brings the number of members on the board to nine. Medallion is also looking to add an additional independent director to the board later this year. It will work with an third-party executive search firm to find suitable candidates.

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Medallion Financial announces $35M stock buyback plan