Central bank metabank

Central bank metabank DEFAULT

MetaBank® Closes Sale of the Community Bank Division

SIOUX FALLS, S.D., March 02, 2020 (GLOBE NEWSWIRE) -- MetaBank®, a wholly-owned subsidiary of Meta Financial Group, Inc.® (Nasdaq: CASH) (the “Company”), today announced that the sale of MetaBank’s community bank division to Central Bank closed on February 29, 2020 (the "Closing Date").

On November 20, 2019, the Company announced that MetaBank entered into a definitive agreement with Central Bank, a state-chartered bank headquartered in Storm Lake, Iowa, for the sale of the community bank division. The sale included all of the community bank's deposits, branch locations, fixed assets, employees, and a portion of the community bank’s loan portfolio.

As of the Closing Date, the agreement provided that Central Bank assume deposits with balances of approximately $280 million and acquire loans with balances of approximately $270 million, associated with the community bank division. The remaining community bank loans, approximately $900 million, not being sold to Central Bank will be retained by the Company under a servicing agreement with Central Bank.

The transaction is expected to result in a pre-tax net gain to the Company of approximately $18 million, subject to final settlement.

This press release and other important information about the Company are available at metafinancialgroup.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements reflect our current views with respect to, among other things, future events, including those relating to the closing of the sale of the community bank division. These statements are often, but not always, made through the use of words or phrases such as “may”, “might”, “should”, “could”, “predict”, “potential”, “believe”, “expect”, “continue”, “will”, “anticipate”, “seek”, “estimate”, “intend”, “plan”, “projection”, “would”, “annualized” and “outlook”, or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, estimates and uncertainties that are difficult to predict. Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements as a result of various risks, uncertainties and other factors, including, without limitation, the final settlement of pre-tax net gain. For a discussion of some of the risks and important factors that could affect our future results and financial condition, see our U.S. Securities and Exchange Commission filings, including, but not limited to, our Annual Report on Form 10-K for the fiscal year ended September 30, 2019.  The Company expressly disclaims any intent or obligation to update any forward-looking statements, whether written or oral, that may be made from time to time by or on behalf of the Company or its subsidiaries, whether as a result of new information, changed circumstances or future events, or for any other reason.

About Meta Financial Group
Meta Financial Group, Inc.® (Nasdaq: CASH) is the holding company for the financial services company MetaBank® (“Meta”). Meta is a leader in providing innovative financial solutions to consumers and businesses in under-served niche markets, and believes in financial inclusion for all. Meta’s commercial lending division works with high-value niche industries, rapid-growth companies and technology adopters to grow their businesses and build more profitable customer relationships. Meta is one of the largest issuers of prepaid cards in the U.S., having issued more than a billion cards in partnership with banks, program managers, payments providers and other businesses, and offers a total payments services solution that includes ACH origination, wire transfers, and more. Meta has a national presence and over 1,000 employees, with corporate headquarters in Sioux Falls, S.D. For more information, visit the Meta Financial Group website.

About Central Bank
With assets exceeding $940 million, Central Bank specializes in community banking and provides personal, business and private banking services, insurance products and risk management services. Two-hundred employees in 17 locations throughout Iowa and South Dakota contribute to Central Bank’s long-standing tradition of community responsibility and relationship-based service. The family-owned bank was chartered in Storm Lake, Iowa in 1877. For more information, visit centralbankonline.com.

MetaBank Investor Relations/Media Contact:Central Bank Media Contacts:
Brittany Kelley ElsasserTim Brown
Director of Investor RelationsChairman, CEO
605.362.2423712.732.2190
[email protected][email protected]
John Brown
President, CFO
515.224.2130
[email protected]
Sours: https://www.globenewswire.com/en/news-release/2020/03/02/1993813/0/en/MetaBank-Closes-Sale-of-the-Community-Bank-Division.html

Frequently asked questions

MetaBank and Central Bank share the same commitment of putting our customers first in everything we do. Together, we’re working diligently to ensure a successful transition for you.

FREQUENTLY ASKED QUESTIONS

Will MetaBank change its name?

Yes, MetaBank’s nine community bank locations will change to Central Bank.

Will I continue to see the MetaBank logo?

Within MetaBank’s community banking division, the MetaBank logo will be replaced with Central Bank’s logo, from account statements to our buildings and beyond. Gradually, you’ll see and become familiar with Central Bank’s branding.

Who is Central Bank?

Central Bank, chartered in 1877 in Storm Lake, Iowa, has a long history of providing customers with nancial solutions and a strong commitment to serving our communities. Two-hundred employees in 17 locations throughout Iowa and South Dakota contribute to our long-standing tradition of community responsibility and relationship-based service. We’re a family-owned bank and decisions are made locally.

Will branch hours change?

No. Branch hours will remain the same.

Will my checking account change?

No. Your account number and account benets will remain the same. On April 27, 2020, we’ll integrate your account into Central Bank’s system. Until then, you can use your MetaBank checks, debit cards, online banking and all other services as usual. Expanded details and updates will be communicated in the upcoming weeks

How do I access my accounts online?

Continue to log into your accounts as usual at metabank.com. Once your account is integrated into Central Bank’s system on April 27, 2020, you’ll access your accounts at centralbankonline.com using your current username and password.

Can I continue to use Mobile Banking?

Yes. Your MetaBank Mobile Banking app will remain the same. After your account is integrated into Central Bank’s system on April 27, 2020, you’ll need to download Central Bank’s Mobile Banking app and log in using your current username and password.

Can I still use my MetaBank debit card?

Yes. You may continue to use your existing MetaBank debit card as usual. In the weeks following the conversion, we will reissue you a Central Bank debit card to replace your MetaBank card.

Will my loan change?

No. Your account number along with the terms of your loan will remain the same and you can continue to make loan payments as you have in the past.

What new products and services will be available to me?

  •  No ATM Fees
  •  Apple® Pay
  •  Visa® Rewards Credit Cards for your personal and business banking needs

...AND MORE! Information highlighting the new products will follow in the upcoming weeks.

Who do I call if I have additional questions?

We understand you have questions. Please don’t hesitate to ask! Reach out to the same experienced bankers you call today with questions – their phone numbers will remain the same. We will continue to provide more detailed information as it becomes available.

THANK YOU!

We’re honored to be your bank and are truly excited about the future. Thank you for your loyalty and continued business.

 

 

Sours: https://www.centralbankonline.com/metabank-faq/
  1. Lucky take 5 numbers
  2. North bay ca craigslist
  3. Side power thruster troubleshooting
  4. Cable handrails
  5. Cologne that smells like fierce

MetaBank

Federally chartered savings bank

MetaBank, N.A. is a United States bank with retail branches in Iowa and South Dakota. It offers traditional banking services designed to serve the needs of individual, agricultural, and business depositors and borrowers.

MetaBank issued debit cards of up to $600 sent to millions of Americans as part of the second round of COVID-19Economic Impact Payments in January 2021. MetaBank acts as the U.S. Treasury's "financial agent" for this purpose.[3]

Locations and divisions[edit]

Metabank branch in Storm Lake

MetaBank is headquartered in Sioux Falls, South Dakota. The retail banking division has locations in four areas: Central Iowa; Storm Lake, Iowa; Brookings, South Dakota; and Sioux Falls. There are branch locations in the following cities:[4]

MetaBank is a Member of the Federal Deposit Insurance Corporation. MetaBank operates in several segments within the Banking and Payments industries: MetaBank, its traditional retail banking operation; Meta Payment Systems, its electronic payments division; AFS/IBEX, its insurance premium financing division; and Refund Advantage, EPS Financial and Specialty Consumer Services, its tax-related financial solutions divisions.

Meta Financial Group, Inc., is the bank holding company that owns MetaBank.

MetaBank Corporate Services and Meta Payment Systems division are headquartered in Sioux Falls, South Dakota[5][6] The AFS/IBEX division is headquartered in Dallas, Texas,[7] with an additional office in Newport Beach, California.[8] Refund Advantage is headquartered in Louisville, Kentucky.[9] EPS is headquartered in Easton, Pennsylvania.[10] SCS is headquartered in Hurst, Texas.[11]

Meta Payment Systems (MPS) offers products in the following areas: prepaid cards, credit products, electronic funds transfer, Automated Teller Machine sponsorship and tax-related financial solutions.[citation needed]

AFS/IBEX provides short-term, collateralized financing to facilitate the purchase of insurance for commercial property, casualty and liability risk. Based in Dallas, Texas, AFS/IBEX originates loans through a network of independent insurance agencies.

Refund Advantage, based in Louisville, Ky., provides tax refund-transfer software for Electronic Return Originators (EROs) and their customers. Their software is used in over 10,000 locations nationwide and processes over one million refund-transfers a year.[citation needed]

EPS Financial (EPS) provides refund settlement products, prepaid payroll card solutions and merchant services. EPS is headquartered in Easton, Pennsylvania.

Specialty Consumer Services (SCS) provides consumer tax advance services through its proprietary underwriting model and loan management system. Based in Hurst, Texas, SCS was a pioneer for no-fee refund advance products.

History[edit]

Founding[edit]

Original Storm Lake Savings and Loan Association building
Original Storm Lake Savings and Loan Association building

MetaBank was founded as Storm Lake Savings and Loan Association in 1954 by Stanley H. Haahr, who remained on the Board of Directors until 1990 and served as board chairman from 1981 to 1990.[12] The bank purchased the Bradford Hotel property in Storm Lake at Fifth and Erie in 1970, and construction was completed on the bank's new headquarters in 1972. By 1993, the bank changed its name from First Federal Savings and Loan Association of Storm Lake to First Federal Savings Bank of the Midwest, a subsidiary of First Midwest Financial, Inc.[13] On Sept. 20, 1993, 1.9 million shares of stock in First Midwest Financial, Inc., were issued at $10 per share and began trading on the NASDAQ stock market under the symbol “CASH.”[14]

Acquisitions[edit]

In 1994, Brookings Federal Bank, a federal savings bank in Brookings, South Dakota, was acquired and operated as the Brookings Federal Bank Division of First Federal Savings Bank of the Midwest.[15] In 1996, Iowa Savings Bank in Des Moines was purchased and operated as the Iowa Savings Bank Division of First Federal Savings Bank of the Midwest.[16]

In January 2018, Metabank acquired Crestmark Bank.[17]

In March 2020, Metabank announced the sale of its community bank division to Central Bank, a state-chartered bank headquartered in Storm Lake, Iowa.[18]

Expansion[edit]

MetaBank Corporate Services Headquarters in Sioux Falls
MetaBank Corporate Services Headquarters in Sioux Falls

First Federal opened the doors to its first Sioux Falls office – a temporary facility – on Sept. 6, 2000.[19] In 2004, the Meta Payment Systems (MPS) division was established in Sioux Falls.[20] The next year, in 2005, all bank divisions under First Federal changed their names to MetaBank, inhabiting four market areas: Central Iowa; Northwest Iowa; Brookings; and Sioux Falls.[21] In 2009, MetaBank introduced a new retail product line and the MPS division became a leading issuer of rebate and gift cards in the United States and worldwide[22] and one of the top issuers of Visa, MasterCard and Discover prepaid cards.[23]

In 2014, MetaBank announced the acquisition of AFS/IBEX Financial Services Inc., an insurance premium financing company based in Dallas, Texas.[24][25]

MetaBank announced the acquisition of Refund Advantage, a tax refund-transfer software company based in Louisville, Kentucky, in 2015.[26]

In 2016, MetaBank announced two acquisitions: EPS Financial in November and Specialty Consumer Services (SCS) in December.[27][28] EPS provides tax-related financial transaction solutions. They are headquartered in Easton, Pennsylvania[29] SCS provides consumer tax advance services through its underwriting and loan management system. SCS is based in Hurst, Texas.[30]

Corporate governance[edit]

James S. Haahr became President and Chief Executive Officer of Meta Financial Group, Inc., in 1993.[31] J. Tyler Haahr took over the position of President and CEO in 2005.[32][33] In 2011, James Haahr resigned as Chairman, and J. Tyler Haahr became Chairman and CEO.[34] James and Tyler Haahr are the son and grandson of founder Stanley Haahr.[35]

Brad Hanson has served as President of the Meta Payment Systems division since its inception in 2004.[36][37] He was appointed President of Meta Financial Group and MetaBank in 2013.[38]

Glen Herrick joined MetaBank in 2013 and serves as Executive Vice President and Chief Financial Officer of Meta Financial Group and MetaBank.[39]

Awards and honors[edit]

MetaBank was included among the Sandler O’Neill and Partners "Bank and Thrift Sm-All Stars – Class of 2012", which ranked the top 25 performing small-cap banks in the country.[40] MetaBank was also named fifth in the nation among top-performing, mid-size banks by the American Banking Association Journal in 2013.[41] MetaBank ranked among the top 25 among the nation's community banks and thrifts, according to American Banker magazine, in 2013[42] and was named to the Top 200 Community Banks and Thrifts list again in 2014.[43] MetaBank was named one of the top performing banks with assets of $1B to $10B by American Banker in 2015.[44] AFS/IBEX division was selected by the Independent Insurance Agents of Texas (IIAT) to be its exclusive premium finance company of choice in 2015.[45] In 2016, Bank Director Magazine named MetaBank the number one top growth bank of 7,000 banks nationwide.[46] MetaBank received an investment grade rating by Kroll Bond Rating Agency in 2016.[47] EPS was named "Business of the Year (25–100 employees) by Lehigh Valley Business in 2016.[48]

Meta Payment Systems division cofounder and MetaBank President Brad Hanson received a 2009 Industry Achievement Award from Paybefore in 2009.[49] MetaBank's Senior Vice President and Chief Legal Officer John Hagy was named among the Top 10 Payments Lawyers by Paybefore in 2015.[50]

References[edit]

  1. ^"MetaBank History". MetaBank.com. Retrieved 2015-05-11.
  2. ^"US SEC: Form 10-K Meta Financial Group, Inc". U.S. Securities and Exchange Commission. Retrieved March 1, 2018.
  3. ^Julia Glum. What Is Metabank, and Why Is It in Charge of Stimulus Check Debit Cards?Money.com. January 8, 2021.
  4. ^"Locations - MetaBank". www.metabank.com. Retrieved 2016-07-01.
  5. ^"Google Maps". Google Maps. Retrieved 2017-02-24.
  6. ^"Google Maps". Google Maps. Retrieved 2017-02-24.
  7. ^"Google Maps". Google Maps. Retrieved 2017-02-24.
  8. ^"Google Maps". Google Maps. Retrieved 2017-02-24.
  9. ^"Google Maps". Google Maps. Retrieved 2017-02-24.
  10. ^"Google Maps". Google Maps. Retrieved 2017-02-24.
  11. ^"Google Maps". Google Maps. Retrieved 2017-02-24.
  12. ^"Stanley H. Haahr". Retrieved 2017-02-10.
  13. ^"InstitutionHistory". www.ffiec.gov. Retrieved 2017-02-10.
  14. ^Lynch, Peter (2012-03-13). Beating the Street. Simon and Schuster. ISBN .
  15. ^"FDIC: Institution Directory - External Confirmation". www2.fdic.gov. Retrieved 2016-07-01.
  16. ^"FDIC: Institution Directory - External Confirmation". www2.fdic.gov. Retrieved 2016-07-01.
  17. ^"Crestmark Bancorp, Inc. Announces Agreement to be Acquired by Meta Financial Group, Inc".
  18. ^"MetaBank® Closes Sale of the Community Bank Division". finance.yahoo.com. Retrieved 2020-03-03.
  19. ^Inc., First Midwest Financial. "First Midwest Financial, Inc. Reports First Quarter Earnings". www.prnewswire.com. Retrieved 2016-07-01.
  20. ^"Meta Payment Systems Inc.: Private Company Information - Businessweek". www.bloomberg.com. Retrieved 2016-07-01.
  21. ^"InstitutionHistory". www.ffiec.gov. Retrieved 2016-07-01.
  22. ^"History - Why MetaBank? - MetaBank". www.metabank.com. Retrieved 2017-02-24.
  23. ^"404. Page Not Found - Bloomberg". Bloomberg.com. Retrieved 2017-02-24.[permanent dead link]
  24. ^"MetaBank to buy insurance premium finance company". Argus Leader. Retrieved 2017-02-24.
  25. ^"MetaBank completes acquisition of insurance premium finance company - Business Record". Business Record. Retrieved 2017-02-24.
  26. ^Inc., Meta Financial Group. "MetaBank to Acquire the Assets of Fort Knox Financial Services Corporation - The Bank to Enter the Tax Refund Industry". www.prnewswire.com. Retrieved 2017-02-24.
  27. ^"Meta announces $42 million acquisition". Argus Leader. Retrieved 2017-02-24.
  28. ^"MetaBank® Completes Acquisition of Specialty Consumer Services LP". Archived from the original on 2017-02-24. Retrieved 2017-02-24.
  29. ^"Google Maps". Google Maps. Retrieved 2017-02-24.
  30. ^"Google Maps". Google Maps. Retrieved 2017-02-24.
  31. ^"undefined undefined undefined undefined: Executive Profile & Biography - Businessweek". www.bloomberg.com. Retrieved 2016-07-01.
  32. ^J. Tyler Haahr bio at metafinancialgroup.com
  33. ^"J. Tyler Haahr: Executive Profile & Biography - Businessweek". www.bloomberg.com. Retrieved 2016-07-01.
  34. ^Inc., Meta Financial Group. "Meta Financial Group, Inc.® Announces Retirement of Chairman James S. Haahr". www.prnewswire.com. Retrieved 2016-07-01.
  35. ^Jodi Schwan. Leading Sioux Falls’ newest billion-dollar company, CEO’s story blends family roots with futuristic thinking, SiouxFalls.Business, Jan 22, 2018
  36. ^Brad Hanson bio at metafinancialgroup.com
  37. ^"Brad Hanson: Executive Profile & Biography - Businessweek". www.bloomberg.com. Retrieved 2016-07-01.
  38. ^Inc., Meta Financial Group. "Meta Financial Group, Inc. ® Announces Executive Appointments". www.prnewswire.com. Retrieved 2016-07-01.
  39. ^Glen Herrick bio at metafinancialgroup.com
  40. ^"25 Sandler All Stars 09/05/12"(PDF).
  41. ^"ABA Article"(PDF).[permanent dead link]
  42. ^"Slow Progress: Our Ranking of the Top 200 Community Banks". American Banker. Retrieved 2017-02-24.
  43. ^"Rising Tide: The Top 200 Community Banks". American Banker. Retrieved 2017-02-24.
  44. ^"More Double-Digit Goodness: Our 2015 Ranking of Mid-Tier Banks". American Banker. Retrieved 2016-07-01.
  45. ^"AFS/IBEX, a division of MetaBank®, named IIAT Advantage partner (Meta Financial Group Inc)". article.wn.com. Retrieved 2017-02-24.
  46. ^"Who Are the Top Growth Banks?". Retrieved 2016-07-01.
  47. ^"KBRA - Kroll Bond Rating Agency, Inc". www.kbra.com. Retrieved 2016-07-01.
  48. ^"EPS Financial, Apprise Software, DESCCO among winners at Business of the Year 2016 | LVB". Lehigh Valley Business. Retrieved 2017-02-24.
  49. ^"2009 Industry Achievement Awards: Brad Hanson (April 2009) - Paybefore". 2009-04-01. Retrieved 2016-07-01.
  50. ^"Paybefore Names Top 10 Payments Lawyers (Feb. 25, 2015) - Paybefore". 2015-02-25. Retrieved 2016-07-01.
Sours: https://en.wikipedia.org/wiki/MetaBank
How to Create MetaBank Account - How to Create Virtual Visa Card - 100% Working With PayPal - 2021

MetaBank® Announces Agreement to Sell Community Bank Division to Central Bank

Company to Continue Focus on National Payments and Lending Businesses

Meta Financial Group, Inc.® Announces New Common Stock Share Repurchase Program

SIOUX FALLS, S.D., Nov. 20, 2019 (GLOBE NEWSWIRE) -- Meta Financial Group, Inc.® (Nasdaq: CASH) (“Meta” or the “Company”) today announced that MetaBank®, a wholly-owned subsidiary of Meta, has entered into an agreement with Central Bank (“Central”), headquartered in Storm Lake, Iowa, for the sale of MetaBank’s community bank division. Included in the sale are all of MetaBank's community bank branches located in Iowa and South Dakota, as well as deposits and fixed assets related thereto, representing approximately $270 million of deposits. Also included in the sale are approximately $265 million of loans. Following the closing of the transaction, MetaBank will retain approximately $935 million of loans associated with MetaBank’s community bank division that will run-off over time and will be serviced by Central following the closing. The branches will be rebranded as Central Bank following the closing of the transaction.

“We are pleased to reach this agreement with Central Bank, which will allow both companies to focus on their core businesses and provide the highest level of service and value to the customers, employees and shareholders,” said Brad Hanson, President and CEO of Meta Financial Group. "This transaction aligns with Meta's strategy to focus on improving yields from our national lending platforms, growing deposits in our payments division and improving efficiencies by streamlining operations; while serving key markets often overlooked by traditional banks."

“Central Bank’s focus of dedicating our time and resources to the communities we serve encompasses the true meaning of community banking,” said Tim Brown, Chairman of the Board and CEO of Central. Mr. Brown continued, “We look forward to accomplishing great things for our customers and employees while embracing our core values of providing exceptional service and helping our customers achieve financial success.”

Pursuant to the terms of the agreement, Central has agreed to offer employment to all current MetaBank community bank employees. John Brown, President and CFO of Central added, “MetaBank employs experienced and valued bankers who represent our vision of community banking. We look forward to working together to make a stronger community bank, bringing new opportunities to our communities, customers and employees. We are pleased to say customers can carry out banking transactions as usual.” Additional details and updates are expected to be sent to affected customers in the upcoming weeks.

The transaction is expected to result in a pre-tax net gain to the Company of approximately $18.5 million. The Company intends to deploy capital generated from the sale into share repurchases, as appropriate, and other corporate purposes.

The closing of the transaction is subject to the satisfaction or waiver of certain conditions, the receipt of third party and regulatory approval and satisfaction of customary closing conditions. The transaction is expected to close late in the first calendar quarter of 2020. Sandler O’Neill + Partners L.P. served as financial advisor and Katten Muchin Rosenman LLP served as legal advisor to MetaBank. Nick Brown Law Firm and Belin McCormick, P.C. served as legal advisors to Central Bank.

In connection with the divestment of the community bank division, the Company also disposed of assets related to a previously disclosed agricultural relationship that were held in other real estate owned (“OREO”), which represented 46 basis points of non-performing assets as of September 30, 2019. The Company expects to incur a pre-tax net loss of approximately $4.3 million in the quarter ended December 31, 2019 related to the disposition of these assets.

The Company also announced on November 20, 2019 that its Board of Directors authorized a new share repurchase program to repurchase up to an additional 7,500,000 shares of Meta’s common stock. The Company repurchased all shares available for repurchase under the Company's share repurchase plan previously announced on March 26, 2019. The new authorization will be effective November 21, 2019 through December 31, 2022. The Company may repurchase shares on the open market and/or in privately negotiated transactions, which may include repurchases pursuant to Rule 10b5-1 trading plans, at times and prices considered appropriate, made from time to time at the discretion of the Company, and subject to its assessment of alternative uses of capital, stock trading price, general market conditions and applicable regulatory and legal factors.  The repurchase program does not obligate the Company to acquire any particular amount of common stock or to acquire shares on any particular timetable, and the program may be suspended at any time at the Company’s discretion.

The Company reiterates its full-year fiscal 2020 earnings per common share range of $3.30 to $3.50, excluding the expected gain on branch sale and loss on OREO described above. As a result, GAAP earnings per share for fiscal 2020 is expected to be in the range of $3.58 to $3.78 per share.

This press release and other important information about the Company are available at metafinancialgroup.com.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements reflect our current views with respect to, among other things, future events, including those relating to share repurchases by the Company, and our financial performance. These statements are often, but not always, made through the use of words or phrases such as “may”, “might”, “should”, “could”, “predict”, “potential”, “believe”, “expect”, “continue”, “will”, “anticipate”, “seek”, “estimate”, “intend”, “plan”, “projection”, “would”, “annualized” and “outlook”, or the negative version of those words or other comparable words or phrases of a future or forward-looking nature. These statements include, among others, statements regarding the potential benefits of, and other expectations for the Company in Connection with and following effectiveness of, the sale of MetaBank's community bank division, including with respect to expected financial gains and losses and future earnings growth, as well as future share repurchases by the Company. These forward-looking statements are based on current expectations, estimates and projections about our industry, management’s beliefs and certain assumptions made by management, many of which, by their nature, are inherently uncertain and beyond our control.  Accordingly, we caution you that any such forward-looking statements are not guarantees of future performance and are subject to risks, assumptions, estimates and uncertainties that are difficult to predict.  Although we believe that the expectations reflected in these forward-looking statements are reasonable as of the date made, actual results may prove to be materially different from the results expressed or implied by the forward-looking statements as a result of various risks, uncertainties and other factors, including, without limitation, the risk that the transaction with Central may not occur on a timely basis or at all; the parties' ability to obtain third party and regulatory approvals, and otherwise satisfy the other conditions to closing, on a timely basis or at all; future economic, competitive and market conditions; the market price of the Company’s stock prevailing from time to time; alternative uses of cash and the nature of other investment opportunities presented to the Company from time to time; and future business decisions. For a discussion of some of the risks and important factors that could affect our future results and financial condition, see our U.S. Securities and Exchange Commission filings, including, but not limited to, our Annual Report on Form 10-K for the fiscal year ended September 30, 2018.  The Company expressly disclaims any intent or obligation to update any forward-looking statements, whether written or oral, that may be made from time to time by or on behalf of the Company or its subsidiaries, whether as a result of new information, changed circumstances or future events, or for any other reason.

About Meta Financial Group
Meta Financial Group, Inc.® (Nasdaq: CASH) is the holding company for the financial services company MetaBank® ("Meta"). Founded in 1954, Meta has grown to operate in several different financial sectors: payments, commercial finance, tax services, community banking and consumer lending. Meta works with high-value niche industries, strategic-growth companies and technology adopters to grow their businesses and build more profitable customer relationships. Meta tailors solutions for bank and non-bank businesses and provides a focused collaborative approach. The organization is helping to shape the evolving financial services landscape by directly investing in innovation and complementary businesses that strategically expand its suite of services. Meta, with over $6 billion in assets, has a national presence and over 1,100 employees, with corporate headquarters in Sioux Falls, S.D.  For more information, visit the Meta Financial Group website or LinkedIn.

About Central Bank
With assets exceeding $900 million, Central Bank specializes in community banking and provides personal, business and private banking services, insurance products and risk management services. Two-hundred employees in 17 locations throughout Iowa and South Dakota contribute to Central Bank’s long-standing tradition of community responsibility and relationship-based service. The family-owned bank was chartered in Storm Lake in 1877. For more information, visit centralbankonline.com.

MetaBank Investor Relations/Media Contact:Central Bank Media Contacts:
Brittany Kelley ElsasserTim Brown
Director of Investor RelationsChairman, CEO
605.362.2423712.732.2190
[email protected][email protected]
John Brown
President, CFO
515.224.2130
[email protected]
Sours: https://www.globenewswire.com/en/news-release/2019/11/20/1950404/0/en/MetaBank-Announces-Agreement-to-Sell-Community-Bank-Division-to-Central-Bank.html

Metabank central bank

WELCOME TO METABANK'S FRESH, NEW WEBSITE

 Important Notice about Economic Impact Payments ("stimulus check"): For information about your EIP Card (also known as "stimulus card"), please call the number on the back of your card, visit EIPcard.com. For other Economic Impact Payment questions, click here.

MetaBank offers a diverse product suite

The features you've come to expect from MetaBank.com are still here.

Take a few minutes to explore our just-released enhancements.

  • Stay informed and get connected: Want the latest fraud alerts? New product updates? Invitations to "Chat with the Expert" events? Click "Get Connected" to see our information hub, compiled just for you.
  • Simplified card sales: Click the "Cards" icon to buy MetaBank prepaid cards and apply for MetaBank personal credit cards online, day or night.
  • Better calculators: Need help calculating a mortgage or estimating your business valuation? Click on "Tools & Calculators" to see MetaBank's reorganized selection.
Sours: https://www.metabank.com/
ECB Conference on Monetary Policy 2021 - Have banks caught Corona?

32shares

March 3, 2020

Meta Financial Group’s community bank division has officially become part of Iowa-based Central Bank.

The bank, headquartered in Storm Lake, purchased all of Meta’s community bank’s deposits, branch locations, fixed assets, employees and a portion of the community bank’s loan portfolio.

The agreement provided that Central Bank assume deposits with balances of approximately $280 million and acquire loans with balances of approximately $270 million that were associated with the community bank division.

Central offered jobs to all MetaBank community bank employees, including 65 in Sioux Falls.

“MetaBank employs experienced and valued bankers who represent our vision of community banking,” John Brown, president and CFO of Central, said when the acquisition was announced last year. “We look forward to working together to make a stronger community bank, bringing new opportunities to our communities, customers and employees. We are pleased to say customers can carry out banking transactions as usual.”

Meta expanded into Sioux Falls in 2000 and has three locations in the city, as well as branches in Brookings, Des Moines and Storm Lake. Central Bank was founded in 1877 and had more than $900 million in assets before acquiring Meta.

Tags:  Central BankMeta Financial GroupMetaBank

Sours: https://www.siouxfalls.business/meta-bank-branches-transition-to-central-bank/

Now discussing:

Exciting growth, new markets & more expertise

 

HomeWelcome to Central Bank

Welcome to Central Bank!

MetaBank community banks are now Central Bank. Together, we are working diligently to ensure you have a smooth and successful transition to Central Bank. 

In April 2020, MetaBank community bank accounts were integrated into Central Bank’s system. The conversion started at 5:30 pm on Friday, April 24, 2020 and concluded at 8:00 am on Monday, April 27, 2020.

Conversion Overview for your Personal Accounts

Click here for details regarding the conversion of your business accounts.

Account Number

Your account number, benefits and maintenance fees will remain the same.

Routing Number

Image of Routing Number Transition GuideOn April 27, 2020, the routing number associated with your accounts will change to Central Bank’s routing number, 073903503. The direct deposits and automatic payments linked to your account will need to be updated to reflect the new number. We will send notice of the routing number change to those originators for 90 days following the conversion. However, we encourage you to contact them, as well, to ensure a smooth transition of your accounts. We’ve included a Routing Number Transition Form & Checklist to guide you through the process. Visit your local Central Bank drive-up to pick up additional copies.

Checks

During the week of April 13, 2020, you will receive a complimentary starter supply of checks with Central Bank’s routing number. The supply will include details on how to order a free full supply of personal checks.

Please discontinue using your MetaBank checks on Friday, April 24 and begin using your new Central Bank checks on Saturday, April 25. Checks with the MetaBank routing number will continue to post to your account for 60 days following the conversion. After the 60 days (Saturday, June 27, 2020), the checks with be invalid and returned.

Debit Card

Continue to use your existing MetaBank debit card as usual. During the conversion weekend, the following restrictions will apply:

  • PIN-based transactions should work as usual
  • Signature-based transactions may not be accepted at some locations; this may impact online purchases
  • Daily ATM cash withdrawal limit: $500 or the current balance of your account, whichever is less
  • Daily PIN-based transaction limit: $500 or the current balance of your account, whichever is less

Your transaction capabilities and daily limits will resume as normal after the conversion concludes at 8:00 am on Monday, April 27.

In the weeks following the conversion, we will reissue you a Central Bank debit card.

Statements

After 5:30 pm on Friday, April 24, MetaBank will issue and mail you paper statements for your accounts. Your normal statement cycle and delivery method will resume after 8:00 am on Monday, April 27.

Online Banking

Screenshot of Online Banking LoginAfter 5:30 pm on Friday, April 24, access to your accounts through Online Banking at metabank.com will be limited to view-only mode and show $0.00 as your balance while your accounts transition over the weekend. Beginning at 8:00 am on Monday, April 27, you will have full access to your accounts through Online Banking at centralbankonline.com.

To login, visit centralbankonline.com, click “Online Banking” from the right side of the green navigation menu, choose “Personal/Small Business” from the dropdown menu, enter your current username and password then click “Login”.

Security Challenge Questions

When you log into Online Banking at centralbankonline.com for the first time, you will be prompted to set up security challenge questions. You can review and update your questions and answers anytime by logging into your Online Banking account, click “Profile” from the upper right hand corner of your Online Banking dashboard then click the “Edit” icon next to “Challenge Questions”.

Online Statements, Check and Deposit Images

Online Statements, check and deposit images posted to your Online Banking account at metabank.com prior to Friday, April 24 won’t be available to view until a later date, likely late summer or early fall. Please download any history, statements or check images you may need in the meantime from your Online Banking account at metabank.com before 5:30 pm on Friday, April 24.

Recurring Transfers

Recurring transfers set up in your Online Banking account at metabank.com will transition to your Online Banking account at centralbankonline.com.

Bill Pay

Your Bill Pay payees, history, scheduled payments and eBills will transfer automatically.

Bank-to-Bank Transfers

Bank-to-Bank Transfers will discontinue after 5:30 pm on Friday, April 24. Central Bank is currently adding the service to our Online Banking suite and anticipate it going live within the next few weeks. Once it’s available in your Online Banking account at centralbankonline.com, you will need to reestablish your transfers. Thank you for your patience!

Quicken and QuickBooks

If you use Quicken or QuickBooks, please update your bank information within the software program following the conversion.

Personal Loans & Lines of Credit

If you currently have a loan or line of credit, it will convert to Central Bank’s system on Monday, April 27. Your current rates and terms will remain in effect until maturity.

Certificates of Deposit and IRAs

Your Certificate of Deposits (CD) and/or Individual Retirement Account (IRA) will convert to Central Bank’s system on Monday, April 27. Your current interest rate will continue until maturity.

FDIC Insurance

Your deposit accounts are protected to the maximum limits provided by FDIC insurance.

Safe Deposit Boxes

If you have a safe deposit box, it will convert to Central Bank’s system and remain available to you in its existing location. Billing notices are mailed annually 14 days prior to the due date.

Overdraft Protection Services

If you currently use Ready Reserve or a credit line for overdraft protection, your coverage will automatically convert.

Telephone Banking

MetaBank’s telephone banking service will end at 5:30 pm on Friday, April 24. Beginning at 8:00 am on Monday, April 27, you can access your accounts using Central Bank’s Bankline 24/7 service by calling (712) 732-2191 or (866) 732-2191.

Thank you for your loyalty and continued business!

 

Helpful Information & Resources

 

 

 

Share this on social media

  • Facebook
  • Email Us
Close

By clicking the social media icons you will be leaving the Central Bank website. We are not endorsing or guaranteeing the products, information or recommendations provided by the organizations linked to our website. We are not liable for any failure of products or services advertised on those sites. We are not responsible for the validity, collection, use or security of information by organizations that may be linked to our website. We encourage you to read the privacy policies of websites reached through the use of links from the Central Bank website.

You are leaving the Central Bank website. We are not endorsing or guaranteeing the products, information or recommendations provided by the organizations linked to our website. We are not liable for any failure of products or services advertised on those sites. We are not responsible for the validity, collection, use or security of information by organizations that may be linked to our website. We encourage you to read the privacy policies of websites reached through the use of links from the Central Bank website.

Would you like to continue?

ContinueCancel

Sours: https://www.centralbankonline.com/metabank/


136 137 138 139 140