Meta Q3 2021 Earnings Report

Meta Financial Group, Inc. Reported net income and more than doubled earnings per share.

Key Takeaways

Meta Financial Group reported a strong third quarter with net income of $38.7 million, or $1.21 per share, driven by tax season delays, government stimulus programs, and reduced provision.

Total revenue increased by $27.7 million compared to the same quarter in fiscal 2020, driven by refund transfer product fees and payments card fee income from government stimulus programs.

Net interest income increased by $6.4 million compared to the third quarter last year, reflecting a decrease in deposit interest expense.

Total tax services product revenue was $13.6 million compared to $4.6 million in the prior year quarter.

The company originated $72.0 million for the first nine months of the fiscal year 2021, resulting in $18.9 million in total net ITC.