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Meta Financial Company profile

About Meta Financial Group Inc.

Meta Financial Group, Inc. is a bank holding company. The Company operates through its banking subsidiary, MetaBank (the Bank). Its segments include Consumer, Commercial, and Corporate Services/Other. The Company provides solutions for bank and non-bank businesses, and provides a collaborative approach. The business of the Bank primarily consists of attracting deposits and investing those funds in its loan and lease portfolios, along with providing prepaid cards and other financial products and solutions to business and consumer customers. In addition to originating loans and leases, the Bank also occasionally contracts to sell loans, such as tax refund advance loans, consumer credit product loans, and government guaranteed loans, to third party buyers. The Bank also sells and purchases loan participations from time to time to and from other financial institutions, as well as mortgage-backed securities (MBS) and other investments.

Financial summary

BRIEF: For the three months ended 31 December 2021, Meta Financial Group Inc. interest income increased 7% to $72.9M. Net interest income after loan loss provision increased 19% to $71.4M. Net income applicable to common stockholders increased from $27.5M to $60.4M. Net interest income after loan loss provision reflects Corporate Services/Other segment increase from $4.5M to $13.1M.

Equity composition

Common Stock $.01 Par, 12/10, 5.2M auth.,3,372,999 issd., less 260,536 shs. in Treas. @ $4.4M. Insiders & stakeholders own 24.74%. IPO/Conversion 9/93, 1,917,625 shares @ $10 by Kemper Securities. 1/97, 3-for-2 stock split. FY'01 - '03 fncls. are reclassified.