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PARENT COMPANY FINANCIAL STATEMENTS
 12 Months Ended
Sep. 30, 2014
PARENT COMPANY FINANCIAL STATEMENTS [Abstract]  
PARENT COMPANY FINANCIAL STATEMENTS
NOTE 18.  PARENT COMPANY FINANCIAL STATEMENTS
 
Presented below are condensed financial statements for the parent company, Meta Financial.
 
CONDENSED STATEMENTS OF FINANCIAL CONDITION
 
September 30,
 
2014
  
2013
 
  
(Dollars in Thousands)
 
ASSETS
    
Cash and cash equivalents
 
$
9,439
  
$
11,386
 
Investment in subsidiaries
  
175,568
   
142,199
 
Other assets
  
393
   
329
 
Total assets
 
$
185,400
  
$
153,914
 
         
LIABILITIES AND STOCKHOLDERS' EQUITY
        
         
LIABILITIES
        
Subordinated debentures
 
$
10,310
  
$
10,310
 
Other liabilities
  
288
   
620
 
Total liabilities
 
$
10,598
  
$
10,930
 
         
STOCKHOLDERS' EQUITY
        
Common stock
  
62
   
61
 
Additional paid-in capital
  
95,079
   
92,963
 
Retained earnings
  
83,797
   
71,268
 
Accumulated other comprehensive income (loss)
  
(3,409
)
  
(20,285
)
Treasury stock, at cost
  
(727
)
  
(1,023
)
Total stockholders' equity
 
$
174,802
  
$
142,984
 
Total liabilities and stockholders' equity
 
$
185,400
  
$
153,914
 

CONDENSED STATEMENTS OF OPERATIONS
 
Years ended September 30,
 
2014
  
2013
  
2012
 
  
(Dollars in Thousands)
 
Total other income
 
$
-
  
$
-
  
$
25
 
             
Interest expense
  
348
   
469
   
482
 
Other expense
  
770
   
941
   
209
 
Total expense
  
1,118
   
1,410
   
691
 
             
Loss before income taxes and equity in undistributed net income of subsidiaries
  
(1,118
)
  
(1,410
)
  
(666
)
             
Income tax benefit
  
(422
)
  
(509
)
  
(275
)
             
Loss before equity in undistributed net income of subsidiaries
  
(696
)
  
(901
)
  
(391
)
             
Equity in undistributed net income of subsidiaries
  
16,409
   
14,319
   
17,505
 
             
Net income
 
$
15,713
  
$
13,418
  
$
17,114
 

CONDENSED STATEMENTS OF CASH FLOWS

For the Years Ended September 30,
 
2014
  
2013
  
2012
 
  
(Dollars in Thousands)
 
CASH FLOWS FROM OPERATING ACTIVITIES
      
Net income
 
$
15,713
  
$
13,418
  
$
17,114
 
Adjustments to reconcile net income to net cash provided by (used in) operating activites
            
Depreciation, amortization and accretion, net
  
(310
)
  
-
   
-
 
Equity in undistributed net income of subsidiaries
  
(16,409
)
  
(14,319
)
  
(17,505
)
Change in other assets
  
246
   
54
   
498
 
Change in other liabilities
  
(332
)
  
(339
)
  
865
 
Net cash provided by (used in) operating activities
  
(1,092
)
  
(1,186
)
  
972
 
             
CASH FLOWS FROM INVESTING ACTIVITES
            
Capital contributions to subsidiaries
  
-
   
(6,000
)
  
(42,482
)
Net cash provided by (used in)investing activites
  
-
   
(6,000
)
  
(42,482
)
             
CASH FLOWS FROM FINANCING ACTIVITIES
            
Cash dividends paid
  
(3,184
)
  
(2,926
)
  
(1,832
)
Stock compensation
  
4
   
165
   
27
 
Proceeds from issuance of common stock
  
(51
)
  
12,718
   
47,796
 
Proceeds from exercise of stock options
  
2,376
   
2,548
   
-
 
Other, net
  
-
   
(38
)
  
-
 
Net cash provided by (used in) financing activities
  
(855
)
  
12,467
   
45,991
 
             
Net change in cash and cash equivalents
 
$
(1,947
)
 
$
5,281
  
$
4,481
 
             
CASH AND CASH EQUIVALENTS
            
Beginning of year
 
$
11,386
  
$
6,105
  
$
1,624
 
End of year
 
$
9,439
  
$
11,386
  
$
6,105
 

The extent to which the Company may pay cash dividends to stockholders will depend on the cash currently available at the Company, as well as the ability of the Bank to pay dividends to the Company.  For further discussion, see Note 14 herein.