Pathward Financial Results Presentation Deck
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PAYMENTS BUSINESS UPDATE
Selected as the prepaid debit card issuer for Economic Impact Payments as
Treasury's financial agent.
Disbursed $6.42 billion in funding for EIP round 1 ("EIP1") and $7.10 billion for EIP round 2
("EIP2"). Distribution of initial payments for EIP2 begun January 4, 2021.
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As of December 31, 2020, $605.1 million in balances remained outstanding from EIP1.
As of January 20, 2021, $569.2 million and $5.80 billion in balances remained outstanding
on EIP1 and EIP2, respectively.
Program execution provides opportunities to work with large-scale programs and program
managers in the future, as well as increase MetaBank's presence in the payments space.
Total average payments deposits were up nearly 83% year-over-year, excluding EIP
Card balances issued by MetaBank, average payments deposits were up 55% year-
over-year.
Deposit growth largely associated with government stimulus programs and is expected to be
temporary in nature.
Also contributing to growth was $150 million in deposits acquired as a component of the
H&R Block relationship that began in the fiscal first quarter.
21% CAGR
2018 2020
Excl. EIP Card Balances
$2.45
Average Payments Deposits
($ in billions)
2018
$2.71
2019
Fiscal Year Average
$4.55
$0.98
EIP. Card
Balances
$3.57
$2.78
2020
$5.07
$0.75
EIP Card:
Balances:
$4.32
1Q20
Payments Card and Deposit Fee Income Breakout
First Quarter Fiscal 2021
21%
11%
■ Prepaid ■ Deposit Banking Services
Banking Services includes ATM, ACH/Faster Payments, Merchant Acquiring
$21.5
Payments Card and Deposit Fee Income
($ in millions)
1020
12%
10%
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Quarter Average
QUARTERLY INVESTOR UPDATE | FIRST QUARTER FISCAL YEAR 2021 | NASDAQ: CASH
$23.2
Percent of Total Revenue
21%
2020
79%
$21.3
3Q20
20%
$21.4
4Q20
20%
$22.6
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