Pathward Financial Reports Q1 2025 Results
Ticker: CASH · Form: 10-Q · Filed: Feb 6, 2025 · CIK: 907471
Sentiment: neutral
Topics: 10-Q, financials, reporting
TL;DR
**PATHWARD FINANCIAL (CASH) 10-Q FILED: Q1 2025 RESULTS OUT. CHECK THE NUMBERS.**
AI Summary
Pathward Financial, Inc. filed its 10-Q for the period ending December 31, 2024. The filing details financial performance and operational updates for the quarter. Specific financial figures and operational highlights are presented within the report.
Why It Matters
This 10-Q filing provides investors and analysts with a detailed look into Pathward Financial's financial health and strategic direction for the first quarter of fiscal year 2025.
Risk Assessment
Risk Level: medium — As a financial institution, Pathward is subject to regulatory changes, economic fluctuations, and credit risks inherent in the banking sector.
Key Numbers
- 2024-12-31 — Period End Date (The report covers financial activities up to this date.)
- 2025-02-06 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- PATHWARD FINANCIAL, INC. (company) — Filer of the 10-Q
- META FINANCIAL GROUP INC (company) — Former company name
- FIRST MIDWEST FINANCIAL INC (company) — Former company name
- 20241231 (date) — Period of report
- 20250206 (date) — Filing date
FAQ
What were the key financial highlights for Pathward Financial in the quarter ending December 31, 2024?
The 10-Q filing for the period ending December 31, 2024, provides detailed financial statements and operational data, but specific dollar amounts for revenue, net income, or assets are not explicitly listed in the provided header information.
What is the SIC code for Pathward Financial, Inc.?
The Standard Industrial Classification (SIC) code for Pathward Financial, Inc. is 6021, which corresponds to National Commercial Banks.
When did Pathward Financial, Inc. change its name from Meta Financial Group Inc?
Pathward Financial, Inc. changed its name from Meta Financial Group Inc on February 8, 2005.
What is the fiscal year end for Pathward Financial, Inc.?
The fiscal year end for Pathward Financial, Inc. is September 30 (0930).
What is the business address of Pathward Financial, Inc.?
The business address for Pathward Financial, Inc. is 5501 South Broadband Lane, P.O. Box 1307, Sioux Falls, SD 57108.
Filing Stats: 4,744 words · 19 min read · ~16 pages · Grade level 17.8 · Accepted 2025-02-06 16:25:11
Key Financial Figures
- $100 — o capital stock (divided into shares of $100 each) as a member of the FRB of Minneap
Filing Documents
- cash-20241231.htm (10-Q) — 3095KB
- cash12312024exhibit311.htm (EX-31.1) — 9KB
- cash12312024exhibit312.htm (EX-31.2) — 9KB
- cash12312024exhibit321.htm (EX-32.1) — 4KB
- cash12312024exhibit322.htm (EX-32.2) — 3KB
- cash-20241231_g1.jpg (GRAPHIC) — 182KB
- 0000907471-25-000012.txt ( ) — 16988KB
- cash-20241231.xsd (EX-101.SCH) — 62KB
- cash-20241231_cal.xml (EX-101.CAL) — 170KB
- cash-20241231_def.xml (EX-101.DEF) — 431KB
- cash-20241231_lab.xml (EX-101.LAB) — 897KB
- cash-20241231_pre.xml (EX-101.PRE) — 662KB
- cash-20241231_htm.xml (XML) — 4171KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements 2 Condensed Consolidated Statements of Financial Condition as of December 31 , 2024 and September 30, 20 24 2 Condensed Consolidated Statements of Operations for the Three Months Ended December 3 1 , 2024 and 2023 3 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three Months Ended December 31 , 2024 and 2023 4 Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three Months Ended December 31 , 2024 and 2023 5 Condensed Consolidated Statements of Cash Flows for the Three Months Ended December 31 , 2024 and 2023 6 Notes to Condensed Consolidated Financial Statements 7
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 35
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 45
Controls and Procedures
Item 4. Controls and Procedures 48
- OTHER INFORMATION
PART II - OTHER INFORMATION
Legal Proceedings
Item 1. Legal Proceedings 49
Risk Factors
Item 1A. Risk Factors 49
Unregistered Sales of Equity Securities and Use of Proceeds
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 49
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 49
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 49
Other Information
Item 5. Other Information 49
Exhibits
Item 6. Exhibits 50
SIGNATURES
SIGNATURES 51 i Table of Contents
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements. PATHWARD FINANCIAL, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Financial Condition (Dollars in thousands, except per share data) December 31, 2024 September 30, 2024 ASSETS (Unaudited) (Audited) Cash and cash equivalents $ 597,396 $ 158,337 Securities available for sale, at fair value 1,480,090 1,741,221 Securities held to maturity, at amortized cost (fair value $ 27,431 and $ 30,236 , respectively) 32,001 33,092 Federal Reserve Bank and Federal Home Loan Bank Stock, at cost 24,454 36,014 Loans held for sale 72,648 688,870 Loans and leases 4,562,681 4,075,195 Allowance for credit losses ( 48,977 ) ( 45,336 ) Accrued interest receivable 35,279 31,385 Premises, furniture, and equipment, net 38,263 39,055 Rental equipment, net 206,754 205,339 Goodwill and intangible assets 313,074 326,094 Other assets 308,679 260,070 Total assets $ 7,622,342 $ 7,549,336 LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES Deposits $ 6,518,953 $ 5,875,085 Short-term borrowings — 377,000 Long-term borrowings 33,380 33,354 Accrued expenses and other liabilities 293,579 424,292 Total liabilities 6,845,912 6,709,731 STOCKHOLDERS' EQUITY Preferred stock, 3,000,000 shares authorized, no shares issued, none outstanding at December 31, 2024 and September 30, 2024, respectively — — Common stock, $ 0.01 par value; 90,000,000 shares authorized, 24,189,631 and 24,851,122 shares issued, 24,119,416 and 24,847,353 shares outstanding at December 31, 2024 and September 30, 2024, respectively 241 248 Common stock, Nonvoting, $ 0.01 par value; 3,000,000 shares authorized, no shares issued, none outstanding at December 31, 2024 and September 30, 2024, respectively — — Additional paid-in capital 640,422 638,803 Retained earnings 332,322 354,474 Accumulated other comprehensive loss ( 190,917 ) ( 153,394 ) Treasury stock, at cost, 70,215 and 3,769 common shares at December 31, 2024 and September 30, 2024, respectively ( 4,882