One of the determiners of a bank’s structure and focus is its charter. Medallion Bank has what is called an industrial bank charter and that charter allows us to be owned by a non-bank (in our case Medallion Financial, a specialty finance company). Non-bank specialty finance companies, to nobody’s surprise, own lots of non-bank businesses.
Medallion Financial is the co-owner of Richard Petty Motorsports. If you know NASCAR, you already know how important that name is. For 2015, we are very excited to be partnering with “The King” and sponsoring Richard Petty Motorsports’ No. 9 car driven by Sam Hornish, Jr. We’ll have a lot more to say about this partnership in the near future, particularly as the Sprint Cup Series gets into full swing. This is our first foray into the world of NASCAR and we’re already enjoying the experience immensely!
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