NEW YORK--(BUSINESS WIRE)--Medallion Financial Corp. (Nasdaq:MFIN) announced today the hiring of John Taylor as SVP, Strategic Partnerships/Business Development for Medallion Bank. John will oversee a new division that will handle the build-out of the Bank’s Strategic Partnership program and development of partner relationships.

John joins Medallion Bank from First Electronic Bank (FEB), where he served as President and Chief Executive Officer starting in 2013. During his tenure at FEB, John focused on diversifying FEB’s revenues by launching several new strategic partnership programs. Prior to his time at FEB, John was President and Chief Executive Officer of CIT Bank from 2009 to 2013, and Chief Financial and Compliance Officer from 2000 to 2009. He is currently a Board Member of the Utah Association Financial Services and National Association of Industrial Bankers.

“We are excited to bring John onboard as we continue to expand our activities at Medallion Bank by entering into exciting new and profitable business lines, and continue to diversify away from the medallion business,” stated Andrew Murstein, President of Medallion Financial, parent company of Medallion Bank. “As the banking landscape evolves toward partnerships between banks and technology companies, we look forward to exploring opportunities in that evolution that will allow us to advance the bank and create additional future value for our shareholders.”

Don Poulton, President of Medallion Bank, continued: “John brings a wealth of experience and knowledge to Medallion Bank that will be put to immediate use. We expect the transition to be smooth as he moves from one Utah industrial bank to another. The combination of John and Trent Hudson, our CFO, who was also formerly at FEB, allows us to leverage their strategic partnership experience to the Bank’s advantage. The strategic partnership business has been a rapidly growing and profitable line of business for several Utah banks, and we look forward to diversifying our source of revenue by entering this line of business.”

https://www.medallionbank.com.

About Medallion Financial and Medallion Bank

Medallion Financial Corp. is a finance company that originates and services loans in various industries, and its wholly-owned subsidiary, Medallion Bank, also originates and services consumer loans. Medallion Financial Corp. has lent more than $8.4 billion since its initial public offering in 1996.