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TheStreet Open House

Meta Financial Group Issues Correction To News Pickup At Reuters

STORM LAKE, Iowa, July 18, 2011 /PRNewswire/ -- Meta Financial Group, Inc.® (NASDAQ: CASH)

Earlier today, July 18, 2011,  Meta Financial Group (MFG) issued their press release announcing their fiscal third quarter results for the period ended June 30, 2011.

Reuters' coverage reversed the positive outlook as provided by MFG for the fourth-quarter. 

The verbatim MFG quote (bold emphasis added)  from President and CEO J. Tyler Haahr included in the release follows:

President and Chief Executive Officer J. Tyler Haahr commented, "Notwithstanding the considerable effect on the bottom line of the charges for settlement of OTS regulatory actions, we are reassured by the durable performance of our MPS business lines, even absent the three product lines that have been discontinued; and by continued encouraging signs that our Traditional Bank segment is experiencing a gradually improving environment. We therefore expect profitability for our fourth fiscal quarter and fiscal year as the OTS settlement has now been recorded and our higher consulting and legal costs are projected to decrease as a result.   Nearing the end of a difficult year, I can report that our tangible book value closed at $24.59 per share, an increase of 10% from the prior fiscal year end."

Reuters statement: Meta Financial anticipates that its fourth-quarter profitability will decrease as the OTS settlement has now been recorded and it would incur higher consulting and legal costs going ahead.

The complete release is available at: http://www.metabank.com/Investor-Relations-PressRoom.aspx

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

Corporate Profile: Meta Financial Group, Inc. ® ("Meta Financial" or the "Company") is the holding company for its wholly-owned subsidiary, MetaBankā„¢ (the "Bank").  MetaBank is a federally-chartered savings bank with four market areas:  Northwest Iowa Market, Brookings Market, Central Iowa Market, Sioux Empire Market; and the Meta Payment Systems® prepaid card division.  Twelve retail banking offices and one administrative office support customers throughout northwest and central Iowa, and in Brookings and Sioux Falls, South Dakota.

The Company and the Bank may from time to time make written or oral "forward-looking statements," including statements contained in its filings with the Securities and Exchange Commission ("SEC"), in its reports to stockholders, and in other communications by the Company, which are made in good faith by the Company pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995.

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