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Mar 31, 2020
Meta Q2 2020 Earnings Report
Reported net income for the fiscal second quarter.
Key Takeaways
Meta Financial Group, Inc. reported a strong fiscal second quarter with a net income of $52.3 million, or $1.45 per diluted share. The company recognized a $19.3 million gain on divestiture of the Community Bank division. Total revenue increased by 7% compared to the same quarter in fiscal 2019.
Net income was $52.3 million, or $1.45 per diluted share.
Total revenue increased by 7% year-over-year to $188.3 million.
Total gross loans and leases increased by 5% year-over-year to $3.61 billion.
Average deposits from the payments divisions increased nearly 11% year-over-year.
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CapyFin.com Forward Guidance
Given the deteriorating economic environment and the uncertainty of the impact on the business following the emergence of the COVID-19 pandemic, the Company is suspending fiscal 2020 earnings per share guidance.