Meta Financial Group, Inc., is the parent company for MetaBank , the federal deposit bank, the Federal Deposit Insurance Corporation Member. Headquartered in Sioux Falls, S.D., MetaBank operates in several segments in the Banking and Payment industry: MetaBank, its traditional retail banking operations; Meta Payment Systems, its electronic payment division; AFS/IBEX, insurance premium financing division; and Refund Advantages, Consumer Financial Services and Consumer EPS, the tax-finance solutions division.
MetaBank, the retail banking division, operates 10 retail branches in four market areas: Central Iowa; Storm Lake, Iowa; Brookings, S.D..; and Sioux Falls, S.D. MetaBank offers traditional banking services designed to serve the needs of individuals, savers and agricultural and business borrowers.
Meta Payment Systems (MPS) focuses on offering specific products in the following areas: prepaid cards, credit products, electronic funds transfers, Automatic Machine Teller sponsorships and tax-related financial solutions.
AFS/IBEX provides short-term financing, guarantees to facilitate the purchase of insurance for commercial property, accident and liability risks. Based in Dallas, Texas, AFS/IBEX derives loans through an independent network of insurance agents.
The Refund Advantage, based in Louisville, Ky., Provides transfer return tax software for Electronic Return Originators (EROs) and its customers. Their software is used in more than 10,000 locations nationwide and processes over one million refunds a year.
EPS Financial (EPS) provides payment settlement products, prepaid payment card solutions and merchant services. EPS is headquartered in Easton, Pa..
Specialty Consumer Services (SCS) provides consumer tax withdrawal services through its proprietary guarantee model and loan management system. Based in Hurst, Texas, SCS is a pioneer for cost-free refund products.
Video MetaBank
History
Standards
Its predecessor MetaBank, the Storm Lake Savings and Loan Association, was founded in 1954 by Stanley H. Haahr and 34 depositors with original capital placed at $ 10,000. In 1957, the bank was converted into a federal charter and its name was changed to the First Federal Savings and Loan Association of Storm Lake.
The Bank bought the Bradford Hotel property at Storm Lake in Fifth and Erie in 1970, and construction was completed at the bank's new headquarters in 1972. In 1993, the bank changed its name from the First Federal Savings and Loan Association of Storm Lake to First Federal Savings Bank from Midwest, a subsidiary of First Midwest Financial, Inc. On September 20, 1993, 1.9 million shares in First Midwest Financial, Inc., were issued for $ 10 per share and began trading on the NASDAQ stock market under the symbol "CASH."
Acquisitions
In 1994, Brookings Federal Bank, a federal savings bank in Brookings, South Dakota, was acquired and operated as the Federal Banking Division of Brookings of First Federal Savings Bank of the Midwest. In 1996, the Iowa Savings Bank in Des Moines was purchased and operated as the Iowa Savings Bank Division of the First Federal Savings Bank in the Midwest.
Expansion
The first Federal opened its doors to its first Sioux Falls office - a temporary facility - on September 6, 2000. In 2004, the Meta Payment System division (MPS) was established in Sioux Falls. The following year, in 2005, all bank divisions under First Federal changed their name to MetaBank, which inhabits four market areas: Central Iowa; Northwest Iowa; Brookings; and Sioux Falls. In 2009, MetaBank introduced a new retail product line and the MPS division became a leading card and rebate card issuer in the United States and around the world and one of the top prepaid Visa, MasterCard and Discover prepaid card issuers.
In 2014, MetaBank announced the acquisition of AFS/IBEX Financial Services Inc., an insurance premium finance company based in Dallas, Texas.
MetaBank announced the acquisition of Refund Advantage, a tax refund software company based in Louisville, Kentucky, by 2015.
In 2016, MetaBank announced two acquisitions: EPS Financial in November and Specialty Consumer Services (SCS) in December. EPS provides tax-related financial transaction solutions. They are headquartered in Easton, Pennsylvania SCS provides consumer tax withdrawal services through a guarantee system and loan management. SCS is based in Hurst, Texas.
Maps MetaBank
Corporate governance
MetaBank was founded as the Storm Lake Savings and Loan Association in 1954 by Stanley H. Haahr, who remained on the Board of Directors until 1990 and served as chairman of the board from 1981-90. James S. Haahr took over the role of President and Chief Executive Officer of Meta Financial Group, Inc., in 1993. J. Tyler Haahr took over the position of President and CEO in 2005. And in 2011, James S. Haahr announced his resignation as Chairman of the Board. J. Tyler Haahr is appointed as Chairman and Chief Executive Officer.
Brad Hanson has served as President of the Meta Payment System division since its inception in 2004. He was appointed President of Meta Financial Group and MetaBank in 2013.
Glen Herrick joined MetaBank in 2013 and served as Executive Vice President and Chief Financial Officer of Meta Financial Group and MetaBank.
Location
MetaBank is headquartered in Sioux Falls, South Dakota The retail banking division has locations in four market areas: Central Iowa; Storm Lake, Iowa; Brookings, South Dakota; and Sioux Falls. There are branch locations in the following cities:
- Brookings, South Dakota
- Des Moines, Iowa
- Sioux Falls, South Dakota
- Storm Lake, Iowa
- Urbandale, Iowa
- West Des Moines, Iowa
MetaBank Corporate Services and Meta Payment Systems Division headquartered in Sioux Falls, South Dakota The AFS/IBEX Division is headquartered in Dallas, Texas, with additional offices in Newport Beach, California. Refund Advantage headquartered in Louisville, Kentucky EPS is headquartered in Easton, Pennsylvania SCS headquartered in Hurst, Texas.
Awards and honors
MetaBank is among Sandler O'Neill and the "Bank and Thrift Sm-All Stars - Class of 2012," the Bank and Thrift Sm-All Stars, which ranks the top 25 performing small banks in the country. MetaBank was also named the fifth in the country among the top-performing, medium-sized banks by the American Banking Association Journal in 2013. MetaBank was ranked among 25 community banks and national banks, according to American Banker Magazine, in 2013 and mentioned to in the list of 200 Community Banks and Best Beginner Lists by 2014. MetaBank was named one of the best performing banks with assets of $ 1B to $ 10B by American Banker Magazine in 2015. The AFS/IBEX division was selected by an Independent Insurance Agent from Texas (IIAT) becoming the exclusive premium financing company of choice by 2015. In 2016, Bank Director Magazine called MetaBank the number one growth bank of 7,000 banks across the country. MetaBank received a grade investment rating by the Kroll Bond Rating Agency in 2016. EPS is named "Business of the Year (25-100 employees) by Lehigh Valley Business in 2016.
MetaBank Payment System Division Establishment and MetaBank President Brad Hanson received the 2009 Industry Achievement Award from Paybefore in 2009. Senior Senior Vice MetaBank and Chief Legal Officer John Hagy were elected among the Top 10 Paying Lawyers by 2015.
References
Source of the article : Wikipedia
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