Company Profile
- Pathward Financial, Inc. (NASDAQ: CASH) (“the company”) is a financial holding company headquartered in Sioux Falls, SD with primary subsidiary, Pathward, N.A. (est. 1954) (“the bank”). The company has evolved into a branchless, nationally branded operation with a focus on payments services, banking-as-a-service (“BaaS”) and commercial finance lending activities, operating on a fiscal year that ends September 30.
- As a leader within the BaaS space, CASH maintains an expansive network of prepaid card partnerships while also sponsoring a broad-network of non-bank ATMs nationally (approximately 60% of freestanding ATMs nationwide as of September 30, 2023).
- Commercial finance loans typically comprise near 85% of total loans, with term lending representing the largest portion of commercial finance loans (35% at F4Q23). The remaining portion of commercial finance loans are relatively well-mixed with ABL, factoring, lease financing, insurance premium…