Medallion Bank (NASDAQ: MBNKO) announced that Donald Poulton will retire as Chief Executive Officer effective June 30, 2026, and will join the bank's Board of Directors as Risk Committee Chair.

Justin Haley will succeed Poulton as CEO starting July 1, 2026. Haley was promoted to President of the bank in January 2026 and has worked at the institution since 2011.

The bank is a wholly owned subsidiary of Medallion Financial Corp. (NASDAQ: MFIN) and provides consumer loans for recreational vehicles, boats, and home improvements, along with loan origination services to fintech partners.

"Don has been an exceptional leader and steward of Medallion Bank," said Andrew Murstein, President and CEO of Medallion Financial Corp. "Justin assumes leadership of a bank with $2.6 billion of assets, an investment grade rating, industry-leading performance metrics, and a clearly defined strategic roadmap."

Poulton brings four decades of experience in credit risk and regulatory compliance to his new board role. "Justin has been instrumental in building Medallion Bank's consumer lending platforms over the past 14 years, drawing on more than 30 years of broader banking experience," Poulton said.

Haley has overseen day-to-day operations, strategic initiatives, and business development in his role as President. "We expect to build on this foundation by continuing our growth in home improvement and recreation lending, expanding our fintech strategic partnerships," Haley said.

Medallion Bank is a Utah-chartered, FDIC-insured industrial bank headquartered in Salt Lake City that works with dealers, contractors and financial service providers throughout the United States.