Pathward Financial Results Presentation Deck slide image

Pathward Financial Results Presentation Deck

SUMMARY FINANCIAL RESULTS First Quarter Ended December 31, 2023 17 ● ● INCOME STATEMENT ($ in thousands, except per share data) Net interest income Provision for credit losses Total noninterest income Total noninterest expense Net income before taxes Income tax expense (benefit) Net income before non-controlling interest ● Net income attributable to non-controlling interest Net income attributable to parent Less: Allocation of earnings to participating securities¹ Net income attributable to common shareholders¹ Earnings per share, diluted Average diluted shares 1 Amounts presented are used in the two-class earnings per common share calculation. Revenue of $162.8 million, a 9% increase compared to $149.8 million for the same quarter in fiscal 2023. Net interest income increased $26.0 million compared to the prior year primarily due to increased yields, higher interest-earning asset balances and an improved earning asset mix. Servicing fee income on off-balance sheet deposits was $5.1 million for the quarter, as compared to $7.8 million in 4Q23 and $12.9 million in the first quarter of the prior year. Noninterest expense of $119.3 million, an increase of 14% compared to $105.1 million for the fiscal 2023 first quarter. The increase in expense was primarily driven by contractual, rate-related processing expenses. Processing expenses related to structured agreements with BaaS partners were $26.8 million for the quarter, as compared to $22.5 million in 4Q23 and $14.0 million in the first quarter of the prior year. 1Q23 $84,057 9,776 65,777 105,059 $34,999 6,577 28,422 580 $27,842 402 27,440 $0.98 28,086,823 Pathward Financial, Inc, (Nasdaq: CASH) | Quarterly Investor Presentation For the quarter ended 4Q23 $104,934 9,042 56,051 118,202 $33,741 (2,672) 36,413 507 $35,906 531 35,375 $1.36 25,991,449 1Q24 $110,036 9,890 52,761 119,274 $33,633 5,719 27,914 257 $27,657 220 27,437 $1.06 25,801,538 pathward
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