Medallion Bank Announces Executive Promotions
MWN-AI** Summary
Medallion Bank, based in Salt Lake City and a subsidiary of Medallion Financial Corp. (Nasdaq: MFIN), has announced significant executive promotions effective January 12, 2026. Justin Haley has been promoted to President of the Bank, while Travis Betenson has advanced to Senior Vice President and Chief Financial Officer. These appointments come as Medallion Bank continues to solidify its position as a key player in providing consumer loans for recreational vehicles, boats, and home improvements, alongside offering loan origination services for fintech partners.
Justin Haley brings over 30 years of banking experience to his new role, having joined Medallion Bank in 2011 as VP of Home Improvement Lending. His leadership was instrumental during his tenure as Chief Operating Officer and subsequently as Chief Financial Officer, where he facilitated the insourcing of IT operations and executed the Bank's inaugural public preferred stock offering. Haley will report directly to Chief Executive Officer Donald Poulton.
Travis Betenson, who joined Medallion Bank in January 2024 as VP of Finance and quickly rose to SVP of Finance, has over 15 years of banking experience, previously serving as CFO at two Utah-based industrial banks. His financial acumen and leadership skills were recognized as critical for the Bank's success, making him a natural choice to succeed Haley as CFO.
"Poulton expressed excitement about the future of Medallion Bank, highlighting the strong partnership between Haley and Betenson," said Poulton. Together, along with Chief Lending Officer Steve Hannay, this executive team is set to drive the Bank's ongoing growth and success in the financial sector. Medallion Bank remains committed to helping thousands of customers fulfill their lending needs across the United States.
MWN-AI** Analysis
Investors in Medallion Bank (Nasdaq: MBNKO) should consider the recent executive promotions as a positive signal for the bank’s growth trajectory and operational stability. The appointment of Justin Haley as President and Travis Betenson as SVP and Chief Financial Officer marks a crucial transition within the bank's leadership, particularly as they navigate the competitive landscape of consumer lending for recreational vehicles, boats, and home improvements.
Mr. Haley’s established history at Medallion Bank, beginning as VP of Home Improvement Lending in 2011 and rising through the ranks to CFO, indicates a continuity of vision and operational expertise vital for sustaining growth. His experience is particularly relevant as the bank adapts to evolving market demands and diversifies its product offerings. Meanwhile, Mr. Betenson's prior leadership roles and deep banking experience equip him well to manage the bank's financial strategies, capital allocation, and investor relations—all critical elements for navigating volatility in consumer lending markets.
Additionally, the bank’s focus on partnerships with fintech involves leveraging technology to enhance efficiency and attract a broader customer base. This strategic orientation positions Medallion Bank to benefit from the lucrative and growing consumer finance sector, especially as demand for loans in specialty markets continues to rise.
As the management team deepens its collaborative approach, the synergy between Haley and Betenson could lead to innovative financial products and improved operational efficiencies. For investors, this could signal potential revenue growth and solidify Medallion Bank’s market presence.
In light of these developments, existing and potential investors may view Medallion Bank as a promising opportunity, particularly as the market for consumer loans remains robust. However, thorough due diligence and attention to broader economic indicators are advisable before making investment decisions.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
SALT LAKE CITY, Jan. 12, 2026 (GLOBE NEWSWIRE) -- Medallion Bank (Nasdaq: MBNKO, the “Bank”), an FDIC-insured bank providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners, is pleased to announce Justin Haley’s promotion to President of the Bank and Travis Betenson’s promotion to SVP and Chief Financial Officer. Both appointments were effective January 12, 2026. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN).
Mr. Haley has more than 30 years of experience in industrial, community and regional banks. He joined the Bank in November 2011 as its VP of Home Improvement Lending, bringing with him the team that built and operated that business line. He became the Bank’s SVP and Chief Operating Officer in 2015 and led the insourcing of the Bank’s information technology functions along with completing the Bank’s first public preferred stock offering. In 2021, Mr. Haley was appointed EVP and Chief Financial Officer. Mr. Haley will continue to report to Chief Executive Officer Donald Poulton.
Mr. Betenson joined the Bank in January 2024 as VP of Finance and was promoted to SVP of Finance later that year. He has more than 15 years of banking leadership experience, having previously served as Chief Financial Officer for two of Utah’s industrial banks, First Electronic Bank and Milestone Bank. In addition to his professional roles, Mr. Betenson serves as a board member for Junior Achievement of Utah, supporting youth financial literacy and education initiatives. Mr. Betenson will continue to report to Mr. Haley.
“This is an exciting time for Medallion Bank,” said Donald Poulton, Chief Executive Officer. “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. The ability to elevate Justin into this new role started coming together two years ago with the addition of Travis Betenson, whose experience and expertise positioned him perfectly to succeed Justin as Chief Financial Officer. Justin and Travis collaborate seamlessly, and along with Steve Hannay, our Chief Lending Officer, they form the strong executive core driving the Bank’s continued growth and success.”
About Medallion Bank
Medallion Bank specializes in providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners. The Bank works directly with thousands of dealers, contractors and financial service providers serving their customers throughout the United States. Medallion Bank is a Utah-chartered, FDIC-insured industrial bank headquartered in Salt Lake City and is a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN). For more information, visit www.medallionbank.com.
| Contacts: | |
| Investor Relations: | Ken Cooper |
| investorrelations@medallion.com | |
| Public Relations: | Christopher Liechty |
| cliechty@medallionbank.com |
FAQ**
How will the leadership changes at Medallion Bank, including the promotion of Justin Haley and the role of Medallion Bank Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock Series G (MBNKO), impact the Bank's growth strategy moving forward?
What are the anticipated benefits for investors holding the Medallion Bank Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock Series G (MBNKO) as the new executive team implements their strategy for expansion and innovation?
Can you provide insights on how the promotion of Travis Betenson to CFO might influence the financial performance of Medallion Bank, particularly in relation to the Medallion Bank Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock Series G (MBNKO)?
What initiatives are planned by the new leadership team at Medallion Bank that could enhance investor confidence in products like the Medallion Bank Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock Series G (MBNKO)?
**MWN-AI FAQ is based on asking OpenAI questions about Medallion Bank Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock Series G par value $1.00 per share (NASDAQ: MBNKO).
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