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PARENT COMPANY FINANCIAL STATEMENTS
 12 Months Ended
Sep. 30, 2015
PARENT COMPANY FINANCIAL STATEMENTS [Abstract]  
PARENT COMPANY FINANCIAL STATEMENTS
NOTE 19.  PARENT COMPANY FINANCIAL STATEMENTS
 
Presented below are condensed financial statements for the parent company, Meta Financial.
 
CONDENSED STATEMENTS OF FINANCIAL CONDITION
 
September 30,
 
2015
  
2014
 
  
(Dollars in Thousands)
 
ASSETS
    
Cash and cash equivalents
 
$
14,280
  
$
9,439
 
Investment in subsidiaries
  
267,623
   
175,568
 
Other assets
  
408
   
393
 
Total assets
 
$
282,311
  
$
185,400
 
         
LIABILITIES AND STOCKHOLDERS' EQUITY
        
         
LIABILITIES
        
Subordinated debentures
 
$
10,310
  
$
10,310
 
Other liabilities
  
666
   
288
 
Total liabilities
 
$
10,976
  
$
10,598
 
         
STOCKHOLDERS' EQUITY
        
Common stock
 
$
82
  
$
62
 
Additional paid-in capital
  
170,749
   
95,079
 
Retained earnings
  
98,359
   
83,797
 
Accumulated other comprehensive income (loss)
  
2,455
   
(3,409
)
Treasury stock, at cost
  
(310
)
  
(727
)
Total stockholders' equity
 
$
271,335
  
$
174,802
 
Total liabilities and stockholders' equity
 
$
282,311
  
$
185,400
 

CONDENSED STATEMENTS OF OPERATIONS
 
Years ended September 30,
 
2015
  
2014
  
2013
 
  
(Dollars in Thousands)
 
Total other income
 
$
-
  
$
-
  
$
-
 
             
Interest expense
  
418
   
348
   
469
 
Other expense
  
269
   
770
   
941
 
Total expense
  
687
   
1,118
   
1,410
 
             
Gain (loss) before income taxes and equity in undistributed net income of subsidiaries
  
(687
)
  
(1,118
)
  
(1,410
)
             
Income tax benefit
  
(324
)
  
(422
)
  
(509
)
             
Gain (loss) before equity in undistributed net income of subsidiaries
  
(363
)
  
(696
)
  
(901
)
             
Equity in undistributed net income of subsidiaries
  
18,418
   
16,409
   
14,319
 
             
Net income
 
$
18,055
  
$
15,713
  
$
13,418
 
 
CONDENSED STATEMENTS OF CASH FLOWS
 
For the Years Ended September 30,
 
2015
  
2014
  
2013
 
  
(Dollars in Thousands)
 
CASH FLOWS FROM OPERATING ACTIVITIES
      
Net income
 
$
18,055
  
$
15,713
  
$
13,418
 
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
  
(18,418
)
  
(16,409
)
  
(14,319
)
Change in other assets
  
(15
)
  
246
   
54
 
Change in other liabilities
  
378
   
(332
)
  
(339
)
Net cash provided by (used in) operating activities
  
(0
)
  
(1,092
)
  
(1,186
)
             
CASH FLOWS FROM INVESTING ACTIVITES
            
Capital contributions to subsidiaries
  
(67,600
)
  
-
   
(6,000
)
Net cash provided by (used in) investing activites
  
(67,600
)
  
-
   
(6,000
)
             
CASH FLOWS FROM FINANCING ACTIVITIES
            
Cash dividends paid
  
(3,493
)
  
(3,184
)
  
(2,926
)
Stock compensation
  
253
   
4
   
165
 
Proceeds from issuance of common stock
  
75,471
   
(51
)
  
12,718
 
Proceeds from exercise of stock options
  
210
   
2,376
   
2,548
 
Other, net
  
-
   
-
   
(38
)
Net cash provided by (used in) financing activities
  
72,441
   
(855
)
  
12,467
 
             
Net change in cash and cash equivalents
 
$
4,841
  
$
(1,947
)
 
$
5,281
 
             
CASH AND CASH EQUIVALENTS
            
Beginning of year
 
$
9,439
  
$
11,386
  
$
6,105
 
End of year
 
$
14,280
  
$
9,439
  
$
11,386
 

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 15 herein.