Pathward Financial Results Presentation Deck
Continued Progress on Key Strategic Initiatives
&
OPTIMIZE DEPOSIT MIX, TO
MAINTAIN A STABLE, LOW-
COST DEPOSIT BASE
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Inl
8
OPTIMIZE INTEREST-EARNING
PORTFOLIO, TO EMPHASIZE
HIGHER-RETURN ASSETS
Improved yield on earning assets to 5.70% for
1Q23 as compared to 4.69% for 1Q22.
Grew commercial finance loans by $209
million, or 7%, from December 31, 2021.
$1.9 billion securities portfolio provides cash
flow for future commercial finance loan
growth.
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Pathward Financial, Inc. (Nasdaq: CASH) | Quarterly Investor Presentation
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Low cost of deposits2 driven by high levels of
noninterest deposits (96% of total deposits).
Achieved 0.07% cost of funds from all
deposits and borrowings and total cost of
deposits of 0.01% for 1Q23².
$2.23 billion of off-balance sheet customer
deposits in custody of program banks.
Prioritizing acquisition of stable BaaS deposits,
which can generate higher levels of fee
income.
TARGET OF 2X OPERATING
LEVERAGE
Efficiency ratio of 68.81% compared to
59.26% as of December 31, 2021.1
¹ Adjusted efficiency ratio (excluding the gain on sale of trademarks and rebranding expenses) for the twelve months ended December 31, 2022 was 67.10%. See appendix for Non-GAAP financial measures reconciliations.
2 See slide 13 (Low-cost Deposits) for additional detail on deposit costs.
Ongoing initiatives to drive long-term
simplification and optimize existing business
platforms through the establishment of a
business transformation office.
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