EARNINGS PER COMMON SHARE

9 Months Ended

Jun. 30, 2017

Earnings Per Share ("EPS") is computed after deducting dividends. The Company has granted restricted share awards with dividend rights that are considered to be participating securities. Accordingly, a portion of the Company’s earnings is allocated to those participating securities in the EPS calculation. Basic earnings per share is computed by dividing income available to common stockholders after the allocation of dividends and undistributed earnings to the participating securities by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised, and is computed after giving consideration to the weighted average dilutive effect of the Company’s stock options and after the allocation of earnings to the participating securities. Antidilutive options are disregarded in the EPS calculations.

A reconciliation of net income and common stock share amounts used in the computation of basic and diluted EPS for the three and nine months ended June 30, 2017 and 2016 is presented below.



Three Months Ended June 30,	2017		2016 ⁽¹⁾
(Dollars in Thousands, Except Share and Per Share Data)
Basic income per common share:
Net income attributable to Meta Financial Group, Inc.	$	9,787	$	8,873
Weighted average common shares outstanding	9,349,989		8,512,043
Basic income per common share	1.05		1.04

Diluted income per common share:
Net income attributable to Meta Financial Group, Inc.	$	9,787	$	8,873
Weighted average common shares outstanding	9,349,989		8,512,043
Outstanding options - based upon the two-class method	60,320		57,175
Weighted average diluted common shares outstanding	9,410,309		8,569,218
Diluted income per common share	1.04		1.04



Nine Months Ended June 30,	2017		2016 ⁽¹⁾
(Dollars in Thousands, Except Share and Per Share Data)
Basic income per common share:
Net income attributable to Meta Financial Group, Inc.	$	43,173	$	27,214
Average common shares outstanding	9,208,867		8,416,724
Basic income per common share	4.69		3.23

Diluted income per common share:
Net income attributable to Meta Financial Group, Inc.	$	43,173	$	27,214
Average common shares outstanding	9,208,867		8,416,724
Outstanding options - based upon the two-class method	60,524		51,651
Average diluted common shares outstanding	9,269,391		8,468,375
Diluted income per common share	4.66		3.21

(1) See Note 1 Basis of Presentation for additional information describing adjustments made to the Company's EPS calculation. June 2016 QTD basic EPS of $1.05 was corrected to $1.04. June 2016 YTD basic EPS of $3.24 was corrected to $3.23 and diluted EPS of $3.22 was corrected to $3.21.