Pathward Financial Results Presentation Deck
TAX SEASON UPDATE 2021
Refund advances ("RAs") and refund-transfers ("RTs") leverage BaaS infrastructure and are core to MetaBank's mission, as
they allow consumers quicker access to their money.
●
RA originations of $1.79 billion compared to $1.33 billion in the 2020 tax season.
2021 tax season benefited by the addition of H&R Block relationship
Approximate average loan size of $1,323 compared to $1,355 in 2020
RT volumes and RT product income for the overall tax season expected to be similar to last year.
$ in millions
Tax Season at MetaBank ramps up during the first fiscal quarter and peaks during the second fiscal quarter.
As a result, performance for the six months ended March 31 is a better reflection on the overall performance for tax season as it alleviates timing differences between quarters.
TAX SERVICES ECONOMICS
Three Months Ended
Six Months Ended
March 31, 2020
RELATIONSHIPS WITH FRANCHISES
(H&R BLOCK, JACKSON HEWITT)
Net interest income (expense)
Tax advance product income
RT product income
Total revenue
Total expense
14
$
March 31, 2021
$
(0.29)
44.56
22.68
66.95
8.34
27.68
30.93
$ 1,727
RELATIONSHIPS WITH INDEPENDENTS
(META TAX)
(1.36)
29.54
28.94
57.12
9.15
19.60
28.37
$ 1,258
$
% Change
(8)%
50.9%
Provision for credit losses
Net income, pre-tax
Total refund advance originations
Approximate loss rate¹ (6 months)
1 Approximate loss rate calculated by taking provision for loan & lease losses divided by total refund advance originations.
(21.6)%
17.2%
(8.9)%
41.3%
9.1%
37%
$
$
March 31, 2021
(0.34)
46.52
23.33
69.51
8.77
28.13
32.61
$ 1,792
1.57 %
$
$
March 31, 2020
QUARTERLY INVESTOR UPDATE | SECOND QUARTER FISCAL YEAR 2021 | NASDAQ: CASH
(1.33)
31.81
29.13
59.61
10.45
20.51
28.65
$ 1,335
1.54 %
% Change
(74.8)%
46.2%
(19.9)%
16.6%
(16.1)%
37.2%
13.8%
34%
2%View entire presentation