Pathward Financial Results Presentation Deck
Asset Quality
25
Nonperforming Assets ("NPAs")
($ in millions)
0.46%
$30.9
4Q22
0.82%
$29.2
0.68%
4Q22
$45.0
1Q23
INPAS
1.16%
Nonperforming Loans ("NPLs")
($ in millions)
$40.9
1Q23
0.44%
INPLs
$30.1
2Q23
Period Ended
0.76%
-NPAS/ Total Assets
$28.5
2Q23
0.55%
Period Ended
$40.8
3Q23
0.93%
$38.8
3Q23
NPLs/Total Loans
Pathward Financial, Inc. (Nasdaq: CASH) | Quarterly Investor Presentation
0.77%
$58.0
4Q23
1.26%
$56.2
4Q23
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●
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Adjusted Net Charge-Offs ("NCOS")¹
Excludes Tax Services NCOs and Related Seasonal Average Loans
($ in millions)
●
0.63%
$4.1
4Q22
0.45%
0.61%
0.25%
$2.2
1Q23
0.68%
0.46%
$6.0
2Q23
Period Ended
Adj. NCOS
-Adj. NCOS / Adj. Average Loans - LTM
0.46%
0.46%
$4.5
3Q23
0.47%
0.49%
KEY CREDIT METRICS
Annualized adjusted net charge-offs¹:
0.49% of average loans in 4Q23
0.47% of average loans over last 12 months
Allowance for credit loss ("ACL") of $49.7 million as of September 30, 2023.
ACL as a % of total loans and leases was 1.14% for 4Q23, a 16 bps decrease from
the prior year.
$5.2
4Q23
-Adj. NCOS / Adj. Average Loans
The increase in NPAs / NPLs compared to the sequential quarter was driven by an
increase within the commercial finance portfolio and the seasonal tax services
portfolio.
1 Non-GAAP financial measures, see appendix for reconciliations. Tax services NCOS and related seasonal average loans are
excluded to adjust for the cyclicality of activity related to the overall economics of the tax services business line.
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