Medallion Bank Appoints New President, CEO Retains Role in Leadership Reshuffle
Summary
Medallion Financial Corp. announced a leadership reshuffle at its Medallion Bank subsidiary, with Donald Poulton remaining CEO and David Justin Haley promoted to President.
Key Events
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Donald Poulton's Role Change
Donald Poulton will no longer serve as President of Medallion Bank but will continue as its Chief Executive Officer, effective January 12, 2026.
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David Justin Haley's Promotion
David Justin Haley has been promoted from Executive Vice President and Chief Financial Officer to President of Medallion Bank, effective January 12, 2026.
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New Employment Agreement for President
Mr. Haley's new employment agreement includes an annual base salary of $430,000, effective January 1, 2026, with provisions for severance and a non-competition covenant.
Analysis
Medallion Financial Corp. announced a significant leadership restructuring at its subsidiary, Medallion Bank. Donald Poulton will transition from President and CEO to solely Chief Executive Officer of Medallion Bank, maintaining his top leadership position. Concurrently, David Justin Haley, previously EVP and CFO, has been promoted to President of Medallion Bank, indicating a strategic elevation of his role within the organization. This reshuffle suggests a planned evolution of the bank's executive team, with Haley taking on broader operational leadership.
At the time of this filing, MFIN was trading at $10.18 on NASDAQ in the Finance sector, with a market capitalization of approximately $237M. The 52-week trading range was $7.71 to $10.98. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.