Business
Meta Financial Group, Inc.® Announces Results for Fourth Quarter and Fiscal Year 2021
- Fiscal 2021 Fourth Quarter Net Income of $15.9 million, or $0.50 Per Diluted Share - - Fiscal 2021 Net Income of $141.7 million, or $4.38 Per Diluted Share
About this update from Pathward Financial, Inc.
[{"type":"text","content":"\n- Fiscal 2021 Fourth Quarter Net Income of $15.9 million, or $0.50 Per Diluted Share - \n\n- Fiscal 2021 Net Income of $141.7 million, or $4.38 Per Diluted Share - \n\n- Fiscal 2021 Earnings Per Share up 49% Versus Fiscal 2020 - \n\n SIOUX FALLS, S.D.--(BUSINESS WIRE)--\nMeta Financial Group, Inc.® (Nasdaq: CASH) (“Meta” or the “Company”) reported net income of $15.9 million, or $0.50 per share, for the three months ended September 30, 2021, compared to net income of $13.2 million, or $0.38 per share, for the three months ended September 30, 2020. The Company reported record net income of $141.7 million, or $4.38 per share, for the fiscal year ended September 30, 2021, compared to net income of $104.7 million, or $2.94 per diluted share for the fiscal year ended September 30, 2020.\n\n\"MetaBank ended fiscal year 2021 on a strong note, as we made significant progress against our three key strategic initiatives, positioning the firm for continued improvement,” said CEO Brett Pharr. “As we start the new fiscal year, our Banking-as-a-Service pipeline has never been stronger and we will continue to advance our mission of financial inclusion for all®.\"\n\n\"I also want to thank our previous CEO Brad Hanson for his contributions over nearly 20 years. His efforts, together with those of our team, built the leadership position that Meta enjoys today,\" Pharr added.\n\n“We achieved record earnings this past fiscal year that generated excess capital for our shareholders, as reflected in the Board’s confidence in authorizing the new share repurchase program we announced last month,\" said Executive Vice President and CFO Glen Herrick. \"We have a balanced approach to capital deployment and will continue to evaluate strategies that create shareholder value.”\n\nBusiness Development Highlights for the 2021 Fiscal Fourth Quarter and Full Fiscal Year 2021\n\n\nNamed the Visa card issuer, in conjunction with Blackhawk Network, for the Excluded Workers Fund, a New York State Department of Labor program that provides one-time payments to certain New Yorkers who lost income due to COVID-19.\n\n\nRecognized a net unrealized gain of $4.1 million on a prior investment in MoneyLion Inc. (\"MoneyLion\") following the completion of its de-SPAC'ing process and listing on the New York Stock Exchange on September 22, 2021.\n\n\nExpanded our renewable en...