Meta Financial Group in Sioux Falls, N.D., expects to have a strong fiscal second quarter despite a small charge tied to brokered deposits.
The $2.1 billion-asset company said in a press release late Monday that it earned nearly $3.8 million during the first two months of this year.
That amount already surpasses Meta's net income for the prior quarter. The company also said that its loan portfolio increased by $115 million, or 27%, over the 12-month period that ended on Feb. 28.
Meta also disclosed that it expects to report a $250,000 expense during the current quarter tied to regulatory guidance on brokered deposits. The company said it expects the maximum annual assessment impact would be about $500,000, though the actual increase should be less than that amount.