Exhibit 99.1
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PATHWARD FINANCIAL, INC. ANNOUNCES RESULTS FOR FOURTH QUARTER AND FISCAL YEAR 2026

Sioux Falls, S.D., October 21, 2026 - Pathward Financial, Inc. (“Pathward Financial,” "Pathward," or the “Company” (Nasdaq: CASH), a U.S.-based financial holding company driven by its purpose to power financial inclusion for all, today reported its unaudited results for the fourth quarter and the fiscal year ended September 30, 2026. The Company reported net income of $38.6 million, or earnings per diluted share of $1.85, for the three months ended September 30, 2026, compared to net income of $38.8 million, or earnings per diluted share of $1.69, for the three months ended September 30, 2025.
For fiscal year 2026 ("fiscal 2026"), the Company reported net income of $175.7 million, or earnings per diluted share of $8.14, compared to net income of $185.9 million, or earnings per diluted share of $7.87, for fiscal year 2025 ("fiscal 2025"). The Company also recognized return on average assets and return on average tangible equity of 2.30% and 32.89%, respectively, compared to 2.46% and 38.75%, respectively, for the prior-year period.
Chief Executive Officer Brett Pharr said, "Fiscal 2026 was another important year of execution for Pathward. We successfully advanced the strategic priorities we set out to accomplish last year, and this was no small feat. We had some major wins across each area, and are very proud of the results the team delivered. While we continue to track and manage some of the credit items we mentioned last quarter, all other areas of the business yielded positive results. We extended contracts with partners, grew noninterest income, and grew net interest income in commercial finance."
Financial Highlights for the Fourth Quarter of Fiscal 2026
All highlights are compared to the same fiscal quarter in the prior-year period.
•Interest income from commercial finance loans increased by $5.6 million, driven by strong originations within structured finance.
•Total noninterest income increased 12%, or $6.8 million, primarily due to a strong increase in card and deposit fee income.
•Noninterest expense decreased 10% 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 nearly doubled from $1.3 billion to $2.2 billion, primarily driven by increased credit sponsorship loan originations resulting from a new contract announced during fiscal 2025, as well as growth with current partners.
•The Company repurchased 281,562 shares of common stock at an average share price of $88.75. As of September 30, 2026, there were 2,845,617 shares available for repurchase under the current common stock share repurchase program.



1

Net Interest Income
Net interest income for the fourth quarter of fiscal 2026 was $117.6 million, a decrease of 8% compared to the fourth quarter of fiscal 2025. The decrease was attributable to an $11.1 million reduction in interest income from the credit sponsorship portfolio and a $3.3 million reduction in interest income from the warehouse finance portfolio. Interest income on the credit sponsorship portfolio was impacted by the sale of a portfolio in October 2025 that was previously accounted for using a gross accounting methodology, and therefore, recorded at higher yields with offsetting entries not included in net interest income. These decreases were partially offset by a $5.6 million increase in interest income from commercial finance loans and leases, driven by strong originations within structured finance.
The Company’s average interest-earning assets for the fourth quarter of fiscal 2026 increased by $69.9 million to $6.87 billion compared to the same quarter in fiscal 2025 due to increases in the average outstanding balances in total loans and leases and cash and fed funds sold. The increase was partially offset by a decrease in the average outstanding balance of total investments. The fourth quarter average outstanding balance of loans and leases increased $196.8 million compared to the same quarter of the prior fiscal year due to an increase in the commercial finance portfolio, partially offset by decreases in the credit sponsorship and warehouse finance portfolios.
Fiscal 2026 fourth quarter net interest margin ("NIM") decreased to 6.79% from 7.46% in the fourth quarter of fiscal 2025 primarily due to the aforementioned sale of the credit sponsorship portfolio in October 2025. When including contractual, rate-related processing expense associated with deposits on the Company's balance sheet and excluding the gross interest income on credit sponsorship loans, adjusted NIM was 5.51% in the fiscal 2026 fourth quarter compared to 5.43% during the fiscal 2025 fourth quarter. See non-GAAP reconciliation table at the end of the press release. The overall reported tax-equivalent yield (“TEY”) on average interest-earning assets decreased 69 basis points to 6.87% compared to the prior-year quarter. The yield on the loan and lease portfolio was 8.23% compared to 9.25% for the comparable period last year and the TEY on the securities portfolio was 2.98% compared to 3.06% over that same period. The decreases in the TEY on average interest-earning assets and the yield on the loan and lease portfolio were also primarily driven by the aforementioned sale of the credit sponsorship portfolio.
The Company's cost of funds for all deposits and borrowings averaged 0.08% during the fiscal 2026 fourth quarter, as compared to 0.09% during the prior-year quarter. The Company's cost of deposits was 0.01% in the fourth quarter of fiscal 2026, as compared to 0.02% during the prior-year quarter. When including contractual, rate-related processing expense associated with deposits on the Company's balance sheet, the Company's adjusted cost of deposits was 1.40% in the fiscal 2026 fourth quarter, a decrease from 1.58% during the prior-year quarter primarily reflecting a lower rate environment. See non-GAAP reconciliation table at the end of the press release.
Noninterest Income
Fiscal 2026 fourth quarter noninterest income increased 12% to $65.6 million, compared to $58.8 million for the same period of the prior year. The increase was driven by increases in card and deposit fees and secondary market revenue, partially offset by decreases in rental income and gain on sale of other. Card and deposit fees excluding servicing fee income on custodial deposits increased $6.4 million, as contracts signed last year are generating growth.
Servicing fee income on custodial deposits totaled $6.1 million during the 2026 fiscal fourth quarter, as compared to $7.5 million for the fiscal quarter ended June 30, 2026 and $2.6 million for the same period of the prior year.



2

Noninterest Expense
Noninterest expense decreased 10% to $129.7 million in the fourth quarter of fiscal 2026, compared to $144.8 million for the same quarter last year. The decrease was attributable to lower legal and consulting expense, partially offset by an increase in building and software expense. The Company continues to make targeted investments in our people, processes and technology.
Card processing expense is primarily driven by rate-related agreements with Payments Sponsorship relationships and subject to deposit levels, floor rates, market conditions, and other performance conditions. Generally, this rate index is based on a percentage of the effective federal funds rate ("EFFR") and reprices immediately upon a change in the EFFR. Approximately 67% of the deposit portfolio was subject to these rate-related processing expenses during the fiscal 2026 fourth quarter. For the fiscal quarter ended September 30, 2026, contractual, rate-related processing expense was $23.0 million, as compared to $23.3 million for the fiscal quarter ended June 30, 2026, and $24.9 million for the fiscal quarter ended September 30, 2025.
Income Tax Expense
The Company recorded an income tax expense of $4.4 million, representing an effective tax rate of 10.1% for the fiscal 2026 fourth quarter, compared to an income tax expense of $9.3 million, representing an effective tax rate of 19.2%, for the fourth quarter last fiscal year. The decrease in income tax expense compared to the prior-year quarter was primarily driven by lower pre-tax income and the impact of a life insurance surrender recognized in the prior-year quarter.
The Company originated $45.3 million in renewable energy leases during the fiscal 2026 fourth quarter, resulting in $13.4 million in total net investment tax credits. During the fourth quarter of fiscal 2025, the Company originated $82.1 million in renewable energy leases resulting in $15.8 million in total net investment tax credits. For fiscal 2026, the Company originated $78.2 million in renewable energy leases, compared to $95.5 million for the comparable prior-year period.
3

Investments, Loans and Leases
(Dollars in thousands)September 30, 2026June 30, 2026March 31, 2026December 31, 2025September 30, 2025
Total investments$1,190,318 $1,246,718 $1,299,421 $1,338,709 $1,357,151 
Loans held for sale
Term lending8,019 3,438 — 5,000 — 
Lease financing478 511 566 619 690 
SBA/USDA18,534 59,342 20,811 31,338 15,654 
Credit sponsorship47,056 33,997 31,695 51,012 163,077 
Total loans held for sale74,087 97,288 53,072 87,969 179,421 
Term lending2,791,146 2,666,977 2,501,855 2,506,777 2,302,540 
Asset-based lending697,151 697,687 660,220 629,317 593,265 
Factoring213,889 220,026 213,269 213,888 217,501 
Lease financing130,643 120,583 126,902 136,505 149,236 
SBA/USDA561,557 567,986 536,637 520,461 511,488 
Other commercial finance46,569 49,510 73,694 140,229 149,939 
Commercial finance4,440,955 4,322,769 4,112,577 4,147,177 3,923,969 
Credit sponsorship108,409 99,430 90,912 132,045 93,319 
Tax services1,898 34,770 60,191 62,049 2,532 
Warehouse finance527,008 647,611 604,642 641,669 645,186 
Total loans and leases5,078,270 5,104,580 4,868,322 4,982,940 4,665,006 
Net deferred loan origination costs (fees)6,345 3,261 (1,157)(85)(98)
Total gross loans and leases5,084,615 5,107,841 4,867,165 4,982,855 4,664,908 
Allowance for credit losses(67,321)(109,780)(98,279)(58,840)(53,319)
Total loans and leases, net$5,017,295 $4,998,061 $4,768,886 $4,924,015 $4,611,589 
The Company's investment security balances at September 30, 2026 totaled $1.19 billion, compared to $1.25 billion at June 30, 2026 and $1.36 billion at September 30, 2025. The year-over-year decrease was primarily related to normal paydown activity.
Total gross loans and leases totaled $5.08 billion at September 30, 2026, as compared to $5.11 billion at June 30, 2026 and $4.66 billion at September 30, 2025. The drivers for the sequential quarter decrease were declines in the warehouse finance portfolio and the seasonal decrease in the tax services portfolio, partially offset by growth in the commercial finance and credit sponsorship portfolios. The year-over-year increase was primarily attributable to growth in the commercial finance portfolio, partially offset by a decrease in the warehouse finance portfolio.
Commercial finance loans, which comprised 87% of the Company's loan and lease portfolio, totaled $4.44 billion at September 30, 2026, reflecting an increase of $118.2 million, or 3%, from June 30, 2026 and an increase of $517.0 million, or 13%, from September 30, 2025. The sequential quarter increase in the commercial finance portfolio was driven by a $124.2 million increase in term lending and a $10.1 million increase in lease financing. The year-over-year increase was driven by an increase of $488.6 million in term lending, an increase of $103.9 million in asset-based lending, and an increase of $50.1 million in SBA/USDA, partially offset by declines of $103.4 million in other commercial finance loans and $18.6 million in lease financing. These changes are primarily the result of the Company's efforts to maintain an optimized balance sheet.




4

Asset Quality
The Company’s allowance for credit losses ("ACL") totaled $67.3 million at September 30, 2026, a decrease compared to $109.8 million at June 30, 2026 and an increase compared to $53.3 million at September 30, 2025. The sequential decrease in the ACL was due to decreases of $30.1 million, $9.0 million, and $3.2 million in the allowance related to the seasonal tax services, commercial finance, and credit sponsorship portfolios, respectively. The sequential decrease in the commercial finance portfolio was primarily driven by a reduction in specific reserves.
The $14.0 million year-over-year increase in the ACL was primarily driven by an $18.5 million increase in the allowance related to the commercial finance portfolio, partially offset by a decrease in the allowance related to the credit sponsorship portfolio of $4.4 million.
The following table presents the Company's ACL as a percentage of its total loans and leases.
As of the Period Ended
(Unaudited)September 30, 2026June 30, 2026March 31, 2026December 31, 2025September 30, 2025
Commercial finance1.46 %1.71 %1.36 %1.16 %1.18 %
Credit sponsorship1.86 %5.23 %7.25 %6.85 %6.88 %
Tax services0.28 %86.66 %58.63 %1.71 %— %
Warehouse finance0.10 %0.10 %0.10 %0.10 %0.10 %
Total loans and leases1.33 %2.15 %2.02 %1.18 %1.14 %
Total loans and leases excluding tax services1.33 %1.57 %1.31 %1.17 %1.14 %

The Company's ACL as a percentage of total loans and leases decreased to 1.33% at September 30, 2026 from 2.15% at June 30, 2026 and increased from 1.14% at September 30, 2025. The sequential decrease in the total loans and leases coverage ratio was primarily driven by a decrease in the ACL related to the commercial finance and seasonal tax services portfolios. The year-over-year increase in the total loans and leases coverage ratio was primarily driven by an increase in the ACL related to the commercial finance portfolio.

Activity in the ACL for the periods presented was as follows.
(Unaudited)Three Months EndedYear Ended
(Dollars in thousands)September 30, 2026June 30, 2026September 30, 2025September 30, 2026September 30, 2025
Beginning balance$109,780 $98,279 $105,995 $53,319 $71,765 
(Reversal of) provision - tax services loans(2,539)(6,035)(660)14,504 22,091 
Provision (reversal of) - all other loans and leases12,105 33,565 (5,797)71,176 34,454 
Charge-offs - tax services loans(28,586)(1,000)(30,426)(29,586)(31,721)
Charge-offs - all other loans and leases(25,402)(17,712)(17,704)(63,288)(59,173)
Recoveries - tax services loans997 1,879 657 15,087 9,628 
Recoveries - all other loans and leases966 804 1,254 6,109 6,275 
Ending balance$67,321 $109,780 $53,319 $67,321 $53,319 

The Company recognized a provision for credit losses of $10.3 million for the quarter ended September 30, 2026, compared to a reversal of provision of $6.4 million for the comparable period in the prior fiscal year. The year-over-year increase was primarily due to increases in the credit sponsorship portfolio of $12.0 million and commercial finance portfolio of $6.7 million, partially offset by decreases in the tax services portfolio of $1.9 million. The increase in provision expense within the credit sponsorship portfolio was due to a provision release recognized during the prior-year quarter.

5

The Company recognized net charge-offs of $52.0 million for the quarter ended September 30, 2026, consisting of $27.6 million in the seasonal tax services portfolio, $20.3 million in the commercial finance portfolio, and $4.1 million in the credit sponsorship portfolio. Net charge-offs were $46.2 million for the quarter ended September 30, 2025, comprised of $29.7 million, $8.9 million, and $7.5 million within the seasonal tax services, credit sponsorship, and commercial finance portfolios, respectively.
The Company's past due loans and leases were as follows for the periods presented.
As of September 30, 2026Accruing and Nonaccruing Loans and LeasesNonperforming Loans and Leases
(Dollars in thousands)30-59 Days Past Due60-89 Days Past Due> 89 Days Past DueTotal Past DueCurrentTotal Loans and Leases Receivable> 89 Days Past Due and AccruingNonaccrual BalanceTotal
Loans held for sale$— $— $— $— $74,087 $74,087 $— $— $— 
Commercial finance15,810 49,220 120,078 185,108 4,255,847 4,440,955 32,765 254,607 287,372 
Credit sponsorship1,281 314 337 1,932 106,477 108,409 337 — 337 
Tax services— — 1,598 1,598 300 1,898 1,598 — 1,598 
Warehouse finance— — — — 527,008 527,008 — — — 
Total loans and leases held for investment17,091 49,534 122,013 188,638 4,889,632 5,078,270 34,700 254,607 289,307 
Total loans and leases$17,091 $49,534 $122,013 $188,638 $4,963,719 $5,152,357 $34,700 $254,607 $289,307 

As of June 30, 2026Accruing and Nonaccruing Loans and LeasesNonperforming Loans and Leases
(Dollars in thousands)30-59 Days Past Due60-89 Days Past Due> 89 Days Past DueTotal Past DueCurrentTotal Loans and Leases Receivable> 89 Days Past Due and AccruingNonaccrual BalanceTotal
Loans held for sale$— $12,420 $— $12,420 $84,868 $97,288 $— $— $— 
Commercial finance56,731 87,246 171,712 315,689 4,007,080 4,322,769 15,711 255,365 271,076 
Credit sponsorship1,425 448 3,998 5,871 93,559 99,430 3,998 — 3,998 
Tax services— 34,770 — 34,770 — 34,770 — — — 
Warehouse finance— — — — 647,611 647,611 — — — 
Total loans and leases held for investment58,156 122,464 175,710 356,330 4,748,250 5,104,580 19,709 255,365 275,074 
Total loans and leases$58,156 $134,884 $175,710 $368,750 $4,833,118 $5,201,868 $19,709 $255,365 $275,074 
The Company's nonperforming assets at September 30, 2026 were $290.4 million, representing 4.00% of total assets, compared to $277.5 million, or 3.79% of total assets, at June 30, 2026 and $101.7 million, or 1.42% of total assets, at September 30, 2025.
The increase in the nonperforming assets as a percentage of total assets at September 30, 2026, compared to June 30, 2026, was primarily driven by an increase in commercial finance loans more than 89 days past due and accruing. Compared with the same period of the prior year, the increase was driven by higher nonperforming loans in the commercial finance portfolio, partially offset by lower nonperforming loans in the seasonal tax services portfolio.



6

The Company's nonperforming loans and leases at September 30, 2026 were $289.3 million, representing 5.61% of total gross loans and leases, compared to $275.1 million, or 5.28% of total gross loans and leases, at June 30, 2026 and $99.1 million, or 2.05% of total gross loans and leases, at September 30, 2025. The primary reason for the increase in nonperforming commercial finance loans, as compared to September 30, 2025, was related to certain renewable energy construction projects with a common developer. The Company continues to work with other parties in these projects to bring them to completion.
Deposits, Borrowings and Other Liabilities
The average balance of total deposits and interest-bearing liabilities was $6.22 billion for the quarter ended September 30, 2026, compared to $6.27 billion for the same period in the prior fiscal year. Total average deposits for the fiscal 2026 fourth quarter decreased by $42.8 million to $6.14 billion compared to the same period in fiscal 2025. The decrease in average deposits was primarily due to decreases in noninterest-bearing deposits and money market deposits.
Total end-of-period deposits decreased 3% to $5.69 billion at September 30, 2026, from $5.89 billion at September 30, 2025. The decrease in end-of-period deposits was primarily driven by a decreases in noninterest-bearing deposits of $151.6 million and $55.7 million in money market deposits, partially offset by an increase in interest-bearing checking deposits of $15.1 million.
As of September 30, 2026, the Company managed $630.0 million of customer deposits at other banks in its capacity as custodian, compared to $575.0 million as of June 30, 2026 and $210.5 million as of September 30, 2025. These deposits provide the Company with the ability to earn servicing fee income, typically reflective of the EFFR.
Regulatory Capital
The Company and its subsidiary Pathward®, N.A. (the "Bank") remained above the federal regulatory minimum capital requirements at September 30, 2026, and continued to be classified as well-capitalized, and in good standing with the regulatory agencies. Regulatory capital ratios of the Company and the Bank are stated in the table below. Regulatory capital is not affected by the unrealized loss on accumulated other comprehensive income (“AOCI”). The securities portfolio is primarily comprised of amortizing securities that should provide consistent cash flow.
The tables below include certain non-GAAP financial measures that are used by investors, analysts and bank regulatory agencies to assess the capital position of financial services companies. Management reviews these measures along with other measures of capital as part of its financial analysis.
As of the Periods Indicated
September 30, 2026(1)
June 30, 2026March 31,
2026		December 31,
2025		September 30,
2025
Company
Tier 1 leverage capital ratio9.85 %9.66 %8.62 %9.51 %9.79 %
Common equity Tier 1 capital ratio11.83 %11.51 %12.65 %12.02 %12.70 %
Tier 1 capital ratio12.07 %11.74 %12.89 %12.26 %12.95 %
Total capital ratio13.59 %13.33 %14.52 %13.67 %14.27 %
Bank
Tier 1 leverage ratio10.09 %9.91 %8.85 %9.84 %10.00 %
Common equity Tier 1 capital ratio12.37 %12.05 %13.24 %12.67 %13.23 %
Tier 1 capital ratio12.37 %12.05 %13.24 %12.67 %13.23 %
Total capital ratio13.56 %13.31 %14.49 %13.73 %14.19 %
(1) September 30, 2026 capital ratios are preliminary pending completion and filing of the Company's and Bank's regulatory reports. The ratios presented above have been calculated under the generally applicable risk-based capital framework.

7

The following table provides the non-GAAP financial measures used to compute certain of the ratios included in the table above, as well as a reconciliation of such non-GAAP financial measures to the most directly comparable financial measure in accordance with GAAP:
Standardized Approach(1)
As of the Periods Indicated

(Dollars in thousands)
September 30,
2026		June 30,
2026		March 31,
2026		December 31,
2025		September 30,
2025
Total stockholders' equity$820,355 $851,146 $850,677 $853,712 $857,454 
Adjustments:
LESS: Goodwill, net of associated deferred tax liabilities283,760 284,105 284,471 284,815 285,158 
LESS: Certain other intangible assets19,339 18,699 17,306 17,746 18,077 
LESS: Net deferred tax assets from operating loss and tax credit carry-forwards3,136 785 1,207 5,877 5,733 
LESS: Net unrealized (losses) on available for sale securities(183,151)(138,411)(138,462)(133,516)(143,190)
LESS: Noncontrolling interest194 245 (785)(823)(591)
ADD: Adoption of Accounting Standards Update 2016-13— — — — 1,788 
Common Equity Tier 1(1)
697,077 685,723 686,940 679,613 694,055 
Long-term borrowings and other instruments qualifying as Tier 113,661 13,661 13,661 13,661 13,661 
Tier 1 minority interest not included in common equity Tier 1 capital76 115 (382)(437)(307)
Total Tier 1 capital710,814 699,499 700,219 692,837 707,409 
Allowance for credit losses70,022 74,916 68,278 59,687 52,455 
Subordinated debentures, net of issuance costs19,898 19,872 19,846 19,821 19,796 
Total capital$800,734 $794,287 $788,343 $772,345 $779,660 
(1) Capital amounts and ratios are calculated in accordance with Basel III capital rules as implemented by U.S. banking regulators and reflect fully phased-in regulatory requirements applicable to the Company as of the reporting date.
8

Conference Call
The Company will host a conference call and earnings webcast with a corresponding presentation at 4:00 p.m. Central Time (5:00 p.m. Eastern Time) on Wednesday, October 21, 2026. The live webcast of the call can be accessed from Pathward’s Investor Relations website at www.pathwardfinancial.com. Telephone participants may access the conference call by dialing 1-833-461-5787 approximately 10 minutes prior to start time and reference meeting ID 841767855.
The quarterly investor presentation prepared for use in connection with the Company's conference call and earnings webcast is available under the Presentations link in the Investor Relations - Events & Presentations section of the Company's website at www.pathwardfinancial.com. A webcast replay will also be archived at www.pathwardfinancial.com for one year.
About Pathward Financial, Inc.
Pathward Financial, Inc. (Nasdaq: CASH) is a U.S.-based financial holding company driven by its purpose to power financial inclusion. Through our subsidiary, Pathward®, N.A., we strive to increase financial availability, choice, and opportunity through payments sponsorship and lending. These capabilities provide support to individuals and businesses. Learn more at www.pathwardfinancial.com.
Non-GAAP Financial Measures
This press release includes certain adjusted non-GAAP financial measures, which are not calculated in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and exclude the impact of certain items. Management uses these non-GAAP financial measures to evaluate the Company’s performance and manage its operations and believes such measures to be helpful in understanding the Company's results of operations or financial position. These non-GAAP financial measures are intended to complement, and are not considered as alternatives to or substitutes for, the most directly comparable GAAP financial measures, as reconciled in the below tables. Additionally, such non-GAAP financial measures may not be comparable to or calculated in the same manner as similarly titled measures used by other companies.

Investor Relations contact
Darby Schoenfeld, CPA
SVP, Chief of Staff & Investor Relations
877-497-7497
investorrelations@pathward.com

Media Relations contact
mediarelations@pathward.com


9

Forward-Looking Statements
The Company and the Bank may from time to time make written or oral “forward-looking statements,” including statements contained in this press release, the Company’s filings with the Securities and Exchange Commission ("SEC"), the Company’s reports to stockholders, and in other communications by the Company and the Bank, which are made in good faith by the Company pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995.
You can identify forward-looking statements by words such as “may,” “hope,” “will,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “potential,” “continue,” “could,” “future,” "target," or the negative of those terms, or other words of similar meaning or similar expressions. You should carefully read statements that contain these words because they discuss our future expectations or state other “forward-looking” information. These forward-looking statements are based on information currently available to us and assumptions about future events, and include statements with respect to the Company’s beliefs, expectations, estimates, and intentions, which are subject to significant risks and uncertainties, and are subject to change based on various factors, some of which are beyond the Company’s control. Such risks, uncertainties and other factors may cause our actual growth, results of operations, financial condition, cash flows, performance and business prospects and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. Such statements address, among others, the following subjects: future operating results, including our performance expectations and fiscal 2027 financial guidance; our fiscal 2027 goals and strategy; including our emphasis on people, processes and technology; progress on key strategic initiatives; future performance and business prospects, including our Payments Sponsorship pipeline; our value proposition, including opportunities for revenue growth; expected results of our partnerships; impacts of our improved data analytics, underwriting and monitoring processes; impacts of our evolved operating model; expectations with respect to credit performance, expected nonperforming loan resolutions and net charge-off rates; the performance of our securities portfolio; customer retention; loan and other product demand; new products and services; credit quality; the level of net charge-offs and the adequacy of the allowance for credit losses; and technology, including impacts of technology investments. The following factors, among others, could cause the Company's financial performance and results of operations to differ materially from the expectations, estimates, and intentions expressed in such forward-looking statements: maintaining our executive management team; expected growth opportunities may not be realized or may take longer to realize than expected; our ability to successfully implement measures designed to reduce expenses and increase efficiencies; changes in trade, monetary, and fiscal policies and laws, including actual changes in interest rates and the Fed Funds rate and changes in international trade policies, tariffs, and treaties affecting imports and exports, and their related impacts on macroeconomic conditions, customer behavior, funding costs and loan and securities portfolios; changes in tax laws; trade disputes, barriers to trade or the emergence of trade restrictions; the strength of the United States' economy and the local economies in which the Company operates; adverse developments in the financial services industry generally such as bank failures, responsive measures to mitigate and manage such developments, related supervisory and regulatory actions and costs, and related impacts on customer behavior; inflation, market, and monetary fluctuations; our liquidity and capital positions, including the sufficiency of our liquidity; the timely and efficient development of new products and services offered by the Company or its strategic partners, as well as risks (including reputational and litigation) attendant thereto, and the perceived overall value and acceptance of these products and services by users; the Bank's ability to maintain its Durbin Amendment exemption; the risks of dealing with or utilizing third parties, including, in connection with the Company’s prepaid card and tax refund advance businesses; the risk of reduced volume of refund advance loans as a result of reduced customer demand for or usage of the Bank's strategic partners’ refund advance products; our relationship with, and any actions, which may be initiated by our regulators, and any related increases in compliance and other costs; changes in financial services laws and regulations, including laws and regulations relating to the tax refund industry; technological changes, including, but not limited to, the protection of our electronic systems and information; the impact of acquisitions and divestitures; litigation risk; the growth of the Company’s business, as well as expenses related thereto; continued maintenance by the Bank of its status as a well-capitalized institution; changes in consumer borrowing, spending and saving habits; losses from fraudulent or illegal activity; technological risks and developments and cyber threats, attacks, or events; emerging external focus among regulators and other officials related to risks in connection with the development and use of artificial intelligence; the success of the Company at maintaining its high quality asset level and managing and collecting assets of borrowers in default should problem assets increase; and the potential adverse effects of unusual and infrequently occurring events, including the impact on financial markets from geopolitical conflicts, government shutdowns, weather-related disasters, or public health events, such as pandemics, and any governmental or societal responses thereto.
The foregoing list of factors is not exclusive. We caution you not to place undue reliance on these forward-looking statements. The forward-looking statements included in this press release speak only as of the date hereof. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Additional discussions of factors affecting the Company’s business and prospects are reflected under the caption “Risk Factors” and in other sections of the Company’s Annual Report on Form 10-K for the Company’s fiscal year ended September 30, 2025, and in the Company's other filings made with the SEC. The Company expressly disclaims any intent or obligation to update, revise or clarify any forward-looking statements, whether written or oral, that may be made from time to time by or on behalf of the Company or its subsidiaries, whether as a result of new information, changed circumstances, or future events or for any other reason, except as required by applicable law.
10

Condensed Consolidated Statements of Financial Condition (Unaudited)
(Dollars in Thousands, Except Share Data)September 30, 2026June 30, 2026March 31, 2026December 31, 2025September 30, 2025
ASSETS
Cash and cash equivalents$162,398 $149,412 $157,602 $331,217 $120,568 
Securities available for sale, at fair value1,163,947 1,219,616 1,271,353 1,310,047 1,327,843 
Securities held to maturity, at amortized cost26,371 27,101 28,068 28,662 29,308 
Federal Reserve Bank and Federal Home Loan Bank stock, at cost39,250 30,915 25,480 24,310 24,708 
Loans held for sale74,087 97,288 53,072 87,969 179,421 
Loans and leases5,084,615 5,107,841 4,867,165 4,982,855 4,664,908 
Allowance for credit losses(67,321)(109,780)(98,279)(58,840)(53,319)
Accrued interest receivable35,828 36,966 36,127 36,174 38,520 
Premises, furniture, and equipment, net43,748 43,313 42,254 42,370 40,632 
Rental equipment, net116,661 152,451 146,190 154,533 159,446 
Goodwill and intangible assets307,328 308,023 308,741 309,712 310,430 
Other assets266,765 251,227 274,626 311,196 329,879 
Total assets$7,253,677 $7,314,373 $7,112,399 $7,560,205 $7,172,344 
LIABILITIES AND STOCKHOLDERS’ EQUITY
LIABILITIES
Deposits5,691,644 5,950,309 5,851,696 6,350,394 5,886,947 
Short-term borrowings334,500 167,500 26,000 — 9,000 
Long-term borrowings33,559 33,533 33,508 33,482 33,456 
Accrued expenses and other liabilities373,619 311,885 350,518 322,617 385,487 
Total liabilities6,433,322 6,463,227 6,261,722 6,706,493 6,314,890 
STOCKHOLDERS’ EQUITY
Preferred stock— — — — — 
Common stock, $.01 par value207 210 213 222 228 
Common stock, nonvoting, $.01 par value— — — — — 
Additional paid-in capital659,640 657,682 655,128 651,199 648,330 
Retained earnings348,047 339,252 340,744 346,529 359,830 
Accumulated other comprehensive loss(187,733)(142,706)(141,086)(134,996)(145,461)
Treasury stock, at cost— (3,537)(3,537)(8,419)(4,882)
Total equity attributable to parent820,161 850,901 851,462 854,535 858,045 
Noncontrolling interest194 245 (785)(823)(591)
Total stockholders’ equity820,355 851,146 850,677 853,712 857,454 
Total liabilities and stockholders’ equity$7,253,677 $7,314,373 $7,112,399 $7,560,205 $7,172,344 


11

Condensed Consolidated Statements of Operations (Unaudited)
Three Months EndedYear Ended
(Dollars in thousands, except per share data)September 30, 2026June 30, 2026September 30, 2025September 30, 2026September 30, 2025
Interest and dividend income:
Loans and leases, including fees$106,773 $101,289 $115,446 $430,666 $455,816 
Mortgage-backed securities7,263 7,396 8,149 30,061 34,052 
Other investments4,763 5,348 5,845 24,203 33,524 
118,799 114,033 129,440 484,930 523,392 
Interest expense:
Deposits124 140 283 4,744 5,430 
FHLB advances and other borrowings1,116 980 1,205 5,252 6,168 
1,240 1,120 1,488 9,996 11,598 
Net interest income117,559 112,913 127,952 474,934 511,794 
Provision for credit loss10,302 28,309 (6,431)87,457 56,774 
Net interest income after provision for credit loss107,257 84,604 134,383 387,477 455,020 
Noninterest income:
Refund transfer product fees949 11,209 1,061 47,302 43,980 
Refund advance and other tax fee income(212)696 (711)58,129 48,705 
Card and deposit fees35,832 34,570 27,770 138,068 124,971 
Rental income8,497 9,607 11,864 40,671 51,686 
(Loss) on sale of securities— — (2,185)— (25,084)
Gain on divestitures— — — — 15,044 
Secondary market revenue11,340 13,969 10,122 33,040 37,022 
Gain (loss) on sale of other1,301 (51)3,144 2,621 5,151 
Other income7,849 6,731 7,691 27,399 26,625 
Total noninterest income65,556 76,731 58,756 347,230 328,100 
Noninterest expense:
Compensation and benefits51,793 52,361 50,740 211,423 200,495 
Refund transfer product expense(141)2,758 133 11,817 11,534 
Refund advance expense10 90 16 1,597 1,241 
Card processing30,172 30,671 32,693 124,755 138,443 
Building and software14,551 13,054 11,448 52,386 42,094 
Operating lease equipment depreciation 6,984 7,545 10,861 33,599 45,636 
Legal and consulting7,489 6,122 14,272 24,496 36,469 
Intangible amortization695 718 763 3,102 3,456 
Impairment expense749 177 3,325 926 5,915 
Other expense17,384 15,625 20,520 65,375 74,784 
Total noninterest expense129,686 129,121 144,771 529,476 560,067 
Income before income tax expense43,127 32,214 48,368 205,231 223,053 
Income tax expense4,372 3,062 9,300 28,798 36,266 
Net income before noncontrolling interest38,755 29,152 39,068 176,433 186,787 
Net income attributable to noncontrolling interest128 183 265 761 915 
Net income attributable to parent$38,627 $28,969 $38,803 $175,672 $185,872 
Less: Allocation of Earnings to participating securities(1)
3828139192688
Net income attributable to common shareholders(1)
38,58928,94138,664175,480185,184
Earnings per common share:
Basic$1.86 $1.37 $1.70 $8.18 $7.91 
Diluted$1.85 $1.37 $1.69 $8.14 $7.87 
Shares used in computing earnings per common share:
Basic20,775,162 21,065,733 22,708,085 21,441,203 23,397,489 
Diluted20,853,388 21,165,826 22,841,774 21,550,594 23,522,629 
(1) Amounts presented are used in the two-class earnings per common share calculation.
12

Average Balances, Interest Rates and Yields
The following table presents, for the periods indicated, the total dollar amount of interest income from average interest-earning assets and the resulting yields, as well as the interest expense on average interest-bearing liabilities, expressed both in dollars and in rates. Only the yield/rate reflects tax-equivalent adjustments. Nonaccruing loans and leases have been included in the table as loans carrying a zero yield.
Three Months Ended September 30,20262025
(Dollars in thousands)Average
Outstanding
Balance		Interest
Earned /
Paid
Yield /
Rate(1)
Average
Outstanding
Balance		Interest
Earned /
Paid
Yield /
Rate(1)
Interest-earning assets:
Cash and fed funds sold$302,519 $1,540 2.02 %$253,387 $1,887 2.95 %
Mortgage-backed securities1,049,469 7,263 2.75 %1,170,189 8,149 2.76 %
Tax-exempt investment securities99,856 691 3.47 %110,456 756 3.44 %
Asset-backed securities106,471 1,213 4.52 %140,398 1,825 5.16 %
Other investment securities165,729 1,319 3.16 %176,532 1,377 3.10 %
Total investments1,421,525 10,486 2.98 %1,597,575 12,107 3.06 %
Commercial finance4,409,447 88,587 7.97 %3,993,526 82,939 8.24 %
Credit sponsorship134,551 5,604 16.52 %252,368 16,709 26.27 %
Tax services31,817 19 0.23 %34,740 (84)(0.96)%
Warehouse finance573,393 12,563 8.69 %671,802 15,882 9.38 %
Total loans and leases5,149,208 106,773 8.23 %4,952,436 115,446 9.25 %
Total interest-earning assets$6,873,252 $118,799 6.87 %$6,803,398 $129,440 7.56 %
Noninterest-earning assets502,469 570,878 
Total assets$7,375,721 $7,374,276 
Interest-bearing liabilities:
Interest-bearing checking$1,072 $— 0.05 %$950 $— 0.09 %
Savings44,198 3 0.03 %45,947 7 0.06 %
Money markets160,692 105 0.26 %177,225 258 0.58 %
Time deposits1,974 6 1.14 %2,636 5 0.75 %
Wholesale deposits1,066 10 3.76 %1,041 12 4.62 %
Total interest-bearing deposits (a)209,002 124 0.23 %227,799 283 0.49 %
Overnight fed funds purchased48,511 496 4.06 %48,391 571 4.69 %
Subordinated debentures19,881 357 7.12 %19,779 357 7.16 %
Other borrowings13,661 263 7.64 %13,661 277 8.03 %
Total borrowings82,053 1,116 5.40 %81,831 1,205 5.84 %
Total interest-bearing liabilities291,055 1,240 1.69 %309,630 1,488 1.91 %
Noninterest-bearing deposits (b)5,933,671 — — %5,957,697 — — %
Total deposits and interest-bearing liabilities$6,224,726 $1,240 0.08 %$6,267,327 $1,488 0.09 %
Other noninterest-bearing liabilities309,658 293,745 
Total liabilities6,534,384 6,561,071 
Shareholders' equity841,337 813,204 
Total liabilities and shareholders' equity$7,375,721 $7,374,276 
Net interest income and net interest rate spread including noninterest-bearing deposits$117,559 6.79 %$127,952 7.47 %
Net interest margin6.79 %7.46 %
Tax-equivalent effect0.01 %0.01 %
Net interest margin, tax-equivalent(2)
6.80 %7.47 %
Total cost of deposits (a+b)6,142,673 124 0.01 %6,185,496 283 0.02 %
(1) Tax rate used to arrive at the TEY for the three months ended September 30, 2026 and 2025 was 21%.
(2) Net interest margin expressed on a fully-taxable-equivalent basis ("net interest margin, tax-equivalent") is a non-GAAP financial measure. The tax-equivalent adjustment to net interest income recognizes the estimated income tax savings when comparing taxable and tax-exempt assets and adjusting for federal and state exemption of interest income. The Company believes that it is a standard practice in the banking industry to present net interest margin expressed on a fully taxable equivalent basis and, accordingly, believes the presentation of this non-GAAP financial measure may be useful for peer comparison purposes.
13

Selected Financial Information
As of and For the Three Months EndedSeptember 30,
2026		June 30,
2026		March 31,
2026		December 31,
2025		September 30,
2025
Equity to total assets11.31 %11.64 %11.96 %11.29 %11.96 %
Book value per common share outstanding$39.54 $40.48 $39.89 $38.51 $37.65 
Tangible book value per common share outstanding$24.73 $25.83 $25.41 $24.54 $24.02 
Common shares outstanding20,745,540 21,023,902 21,327,534 22,169,535 22,772,570 
Nonperforming assets to total assets4.00 %3.79 %1.68 %1.47 %1.42 %
Nonperforming loans and leases to total loans and leases5.61 %5.28 %2.39 %2.15 %2.05 %
Net interest margin6.79 %6.59 %6.63 %6.95 %7.46 %
Adjusted net interest margin(1)
5.51 %5.27 %5.32 %5.56 %5.43 %
Cost of deposits0.01 %0.01 %0.25 %0.01 %0.02 %
Adjusted cost of deposits (2)
1.40 %1.43 %1.63 %1.49 %1.58 %
Return on average assets2.08 %1.57 %3.56 %1.87 %2.09 %
Return on average equity18.21 %13.73 %34.67 %16.76 %18.93 %
Return on average tangible equity28.72 %21.61 %54.41 %26.72 %30.65 %
Full-time equivalent employees1,224 1,196 1,181 1,170 1,179 
Non-GAAP Reconciliations
Net Interest Margin and Cost of DepositsAt and For the Three Months Ended
(Dollars in thousands)September 30, 2026June 30, 2026March 31, 2026December 31, 2025September 30, 2025
Average interest earning assets$6,873,252 $6,876,094 $7,653,765 $6,812,693 $6,803,398 
Net interest income$117,559 $112,913 $125,124 $119,338 $127,952 
Net interest margin6.79 %6.59 %6.63 %6.95 %7.46 %
Average total deposits
$6,142,673 $6,173,468 $7,021,044 $6,173,866 $6,185,496 
Deposit interest expense$124 $140 $4,274 $206 $283 
Cost of deposits0.01 %0.01 %0.25 %0.01 %0.02 %
Adjusted Net Interest Margin(1) and Adjusted Cost of Deposits(2)
Average interest earning assets$6,873,252 $6,876,094 $7,653,765 $6,812,693 $6,803,398 
Net interest income117,559 112,913 125,124 119,338 127,952 
Less: Contractual, rate-related processing expense associated with deposits on the Company's balance sheet
21,625 21,897 23,971 23,013 24,346 
Less: Gross interest income on credit sponsorship loans509 718 814 905 10,456 
Adjusted net interest income$95,425 $90,298 $100,339 $95,420 $93,150 
Adjusted net interest margin(1)
5.51 %5.27%5.32%5.56%5.43 %
Average total deposits$6,142,673 $6,173,468 $7,021,044 $6,173,866 $6,185,496 
Deposit interest expense124 140 4,274 206 283 
Add: Contractual, rate-related processing expense associated with deposits on the Company's balance sheet
21,625 21,897 23,971 23,013 24,346 
Adjusted deposit expense$21,749 $22,037 $28,245 $23,219 $24,629 
Adjusted cost of deposits(2)
1.40 %1.43 %1.63 %1.49 %1.58 %
(1) Adjusted net interest margin includes contractual, rate-related processing expense associated with deposits on the Company's balance sheet and excludes the gross interest income on credit sponsorship loans.
(2) Adjusted cost of deposits includes contractual, rate-related card processing expense associated with deposits on the Company’s balance sheet.

14