CASH 2017 Annual Report

99 META FINANCIAL GROUP, INC. AND SUBSIDIARIES Consolidated Statements of Cash Flows (Dollars in Thousands) For the Years Ended September 30, 2017 2016 2015 Cash flows from operating activities: Net income $ 44,917 $ 33,220 $ 18,055 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation, amortization and accretion, net 45,048 35,617 28,882 Stock compensation 10,401 487 258 Provision for loan losses 10,589 4,605 1,465 Recovery for deferred taxes (6,286) (230) (3,896) Loss on other assets 406 104 6 Loss (Gain) on foreclosed real estate 6 — (28) Loss on sale of securities available-for-sale, net 537 326 1,634 Gain on sale of securities held-to-maturity, net (44) — — Net change in accrued interest receivable (2,181) (3,847) (2,130) Impairment of intangibles 10,248 — — Fair value adjustment of foreclosed real estate 18 — — Originations of loans held for sale (685,934) — — Proceeds from sales of loans held for sale 685,934 — — Change in bank-owned life insurance value (2,216) (1,656) (1,225) Net change in other assets (23,408) (1,968) (672) Net change in accrued interest payable 1,405 603 (46) Excess contingent consideration paid (248) — — Net change in accrued expenses and other liabilities 30,806 11,237 6,911 Net cash provided by operating activities 119,998 78,498 49,214 Cash flows from investing activities: Purchase of securities available-for-sale (848,613) (603,995) (810,624) Proceeds from sales of securities available-for-sale 457,306 285,508 566,371 Proceeds from maturities and principal repayments of securities available-for-sale 126,420 116,333 124,558 Purchase of securities held to maturity (932) (298,869) (72,759) Proceeds from sales of securities held-to-maturity 5,870 — — Proceeds from maturities and principal repayments of securities held to maturity 45,615 20,465 9,879 Purchase of bank-owned life insurance (25,000) (10,000) (10,000) Proceeds from bank-owned life insurance death benefit — — 864 Loans purchased (141,403) — — Proceeds from loans sold 4,720 89 5,462 Net change in loans receivable (274,840) (217,985) (146,111) Proceeds from sales of foreclosed real estate 200 — 86 Cash paid for acquisitions (29,425) — (125,314) Cash received upon acquisitions — — 9,768 Federal Home Loan Bank stock purchases (715,891) (860,902) (544,324) Federal Home Loan Bank stock redemptions 702,280 837,800 541,160 Proceeds from the sale of premises and equipment 58 55 2,100 Purchase of premises and equipment (6,798) (6,979) (5,031) Net cash used in investing activities (700,433) (738,480) (453,915) Cash flows from financing activities: Net change in checking, savings, and money market deposits 319,524 737,727 334,375 Net change in time deposits (2,355) 34,821 (43,382) Net change in wholesale deposits 476,173 — — Net change of FHLB and other borrowings 308,000 100,000 — Net change in federal funds (5,000) 452,000 70,000 Net change in securities sold under agreements to repurchase (565) (969) (6,404) Proceeds from long term debt — 75,000 — Payment of debt issuance costs — (1,767) — Payment of debt extinguishment costs (772) — — Principal payments on capital lease obligations (80) (126) (116) Cash dividends paid (4,839) (4,389) (3,493)