CASH — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-06

• •In April 2026, the Company released its 2025 Impact Report. The report highlights Pathward's deep partner expertise in enabling inclusive banking, payments, lending and tax solutions nationwide, while making progress on the Company's sustainability efforts.

• •Interest income from commercial finance loans increased by $6.1 million.

• •Total noninterest income increased 4%, or $3.3 million, as a result of strong secondary market revenue generation.

• •Noninterest expense decreased 7% as a result of disciplined expense management while the Company continued to make strategic investments across people, processes, and technology in order to execute on its long-term strategy.

• •New loan originations increased from $1.10 billion to $1.86 billion, primarily driven by an increase in consumer loan originations resulting from a new contract announced during fiscal 2025 and growth with current partners.

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• •The Company's subsidiary Pathward®, N.A. announced it became Certified™ by Great Place To Work® for the fourth year in a row. This year, 88% of employees surveyed said Pathward is a Great Place To Work® – 31 points higher than the typical U.S. company. Great Place to Work® describes itself as the g…

• •Total revenue was $276.3 million, which was driven by a 9% increase in noninterest income. This was primarily driven by growth in card and deposit fees of 22%, refund advance and other tax fee income of 18%, and refund transfer product fees of 7%. Noninterest income represented 55% of total revenue…

• •New loan originations, excluding tax services, increased from $902 million to $1.31 billion, primarily driven by the new contract announced during fiscal 2025 within consumer finance.

• •Annualized return on average assets was 3.56% and return on average tangible equity was 54.41%.

• •The Company repurchased 855,201 shares of common stock at an average share price of $84.15. As of March 31, 2026, there were 3,430,811 shares available for repurchase under the current common stock share repurchase program.

Text added vs the prior filing · source: 10-Q · 2026-08-06

• Management, under the oversight of the Audit Committee, completed its remediation of the previously identified material weakness during the quarter ended June 30, 2026. The remediation included the design, implementation, and operation of enhanced controls for a sufficient period of time, as well as…

• As part of its remediation efforts, management implemented the following actions:

• During the quarter ended June 30, 2026, the Company implemented changes to its internal control over financial reporting as part of the remediation of the previously disclosed material weakness. Based on management's testing and evaluation, the Company concluded that the material weakness was remedi…

• Other than these remediation activities, there were no changes in the Company's internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the 1934 Act) during the fiscal third quarter of 2026 that materially affected, or are reasonably likely to materi…

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• Notwithstanding the conclusion by our management, including our Chief Executive Officer and Chief Financial Officer, that our disclosure controls and procedures were not effective as of March 31, 2026, and notwithstanding the material weakness in our internal control over financial reporting, manage…

• The material weakness cannot be considered remediated until applicable controls have been designed, implemented, have operated for a sufficient period of time and management has concluded, through testing, that these controls are operating effectively. Although we have not remediated these control d…

• As part of our commitment to strengthening our internal control over financial reporting, management has taken certain measures including the following to remediate the material weakness:

• We believe that the actions outlined above will remediate the material weakness once a sufficient period of time has passed for management to conclude, through testing, that these controls are operating effectively. We will continue to assess the effectiveness of internal control over financial repo…

• Management conducted an evaluation of the Company’s internal control over financial reporting to determine whether any changes occurred during the three months ended March 31, 2026 that have materially affected, or are reasonably likely to materially affect, the Company’s internal controls over fina…