Meta Financial Group, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 31, 2016
January 31, 2017 at 02:35 am IST
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Meta Financial Group, Inc. reported unaudited consolidated earnings results for the first quarter ended December 31, 2016. For the quarter, interest and dividend income was $22,575,000 against $18,275,000 a year ago. Net interest income was $19,833,000 against $17,555,000 a year ago. Income before income tax expense was $1,586,000 against $3,595,000 a year ago. Net income was $1,244,000 against $4,058,000 a year ago. Earnings per basic and diluted common share were $0.14 against $0.49 a year ago. Return on average assets was 0.14% against 0.60% a year ago. Return on average equity was 1.41% against 5.91% a year ago. Book value per common share as at December 31, 2016 was $39.96 against $34.10 a year ago. Tangible book value per common share as at December 31, 2016 was $21.97 against $25.45 a year ago.
Pathward Financial, Inc. is a financial holding company. The Company's subsidiary is Pathward, National Association (the Bank). The Bank operates through three segments: Consumer, Commercial, and Corporate Services/Other. The Consumer segment includes the banking as a service (BaaS) business line, which collaborates with partners to navigate payment and lending needs. The Bank's capabilities range from prepaid cards and deposit accounts to payment processing and consumer lending. The Bank offers a variety of installment and revolving consumer lending products through its credit solutions. The Commercial segment offers a variety of products through its working capital, equipment finance, structured finance and insurance premium finance lending solutions. The Corporate Services/Other segment includes certain shared services as well as treasury related functions, such as the investment portfolio, warehouse finance, wholesale deposit, and borrowings.
PATHWARD FINANCIAL, INC. 
