Case 89 Meta Financials Group Inc. (Pathward Financial)

Meta Financial Group Inc. is a registered bank holding company which was incorporated in the year 1993. The group includes Pathward Financial and the Bank along with the subsidiaries of Pathward Financial. MetaBank, the wholly owned full-service banking subsidiary of Pathward Financial operates through the segments of consumer, commercial, and corporate services. MetaBank collaborates with partners through the BaaS business line to provide solutions to attract low-cost deposits and generate fee income. The low-cost deposits are primarily invested into loan and lease products offered through the commercial finance business line. The bank also sells loans such as consumer credit product loans, refund advance loans, and government guaranteed loans to third-party buyers. The bank also sells and purchases loan participations as well as mortgage-backed securities. The consumer segment which include the BaaS business line offers prepaid cards and deposit accounts to payment processing and consumer lending. The company offers innovative solutions such as payment, issuing, credit, and tax. The payment solutions process payments for all customers’ personal and business needs. Pathward is one of the leading debit and prepaid card issuer in the United States. Tax solutions offer electronic refund advances and refund transfers with some of the largest tax companies in the world. Pathward’s commercial finance business line offers different products through its working capital, equipment finance, structured finance, and insurance premium finance lending solutions. The company’s BaaS business line offers its consumer credit products and Emerald Advance products through its credit solutions. The average return on assets, return on equity, and net interest margin were 14.12%, 1.76%, and 4.97%, respectively, during the period 2018–2022.