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Mar 31, 2021
Meta Q2 2021 Earnings Report
Reported net income of $59.1 million, or $1.84 per share, compared to net income of $52.3 million, or $1.45 per share, for the three months ended March 31, 2020.
Key Takeaways
Meta Financial Group, Inc. reported a solid second quarter with net income of $59.1 million, or $1.84 per share. The company saw increased revenue from Tax Services and Payments businesses, as well as increased interest income from the Commercial Finance business. They also continued to develop their Banking as a Service franchise, including a new partnership with Walgreens.
Total revenue for the second quarter was $187.3 million.
Net interest income for the second quarter was $73.9 million.
Total tax services product revenue was $67.0 million, an increase of 17% compared to the second quarter of fiscal 2020.
The Company originated $1.79 billion in refund advance loans compared to $1.33 billion during the 2020 tax season.
Meta
Meta
Forward Guidance
The Company anticipates that participating in the EIP card distribution program will continue to have a slightly positive impact on earnings and it does not expect any material impact on its risk-based capital ratios due to the participation in the card distribution program. Additionally, the Company does not expect these conditions will be sustained over the long-term.