CASH 2017 Annual Report

74 Year Ended September 30, 2017 2016 2015 2014 2013 SELECTED FINANCIAL RATIOS AND OTHER DATA PERFORMANCE RATIOS Return on average assets 1.13% 1.10% 0.78% 0.81% 0.78% Return on average equity 11.20% 10.80% 8.83% 10.01% 9.36% Net interest margin, tax equivalent 3.05% 3.19% 3.03% 2.80% 2.48% QUALITY RATIOS Non-performing assets to total assets 0.72% 0.03% 0.31% 0.05% 0.05% Allowance for loan losses to total loans 0.57% 0.61% 0.88% 1.08% 1.02% Allowance for loan losses to non-performing loans 20% 479% 80% 547% 568% Excluding insured loans (1) Non-performing assets to total assets (2) 0.70% 0.03% 0.31% 0.05% 0.05% Allowance for loan losses to total loans (3) 0.63% 0.61% 0.88% 1.08% 1.02% Allowance for loan losses to non-performing loans (4) 21% 479% 80% 547% 568% CAPITAL RATIOS Stockholders' equity to total assets 8.31% 8.36% 10.73% 8.51% 8.45% Average stockholders' equity to average assets 10.07% 10.19% 8.81% 8.14% 8.37% OTHER DATA Book value per common share outstanding at end of year $ 45.15 $ 39.30 $ 33.24 $ 28.33 $ 23.55 Tangible book value per common share outstanding at end of year $ 29.47 $ 31.57 $ 24.60 $ 27.91 $ 23.17 Dividends declared per share at end of year 0.52 0.52 0.52 0.52 0.52 Number of full-service offices at end of year 10 10 10 11 11 Common Shares Outstanding 9,622,595 8,523,641 8,163,022 6,169,604 6,070,654 (1) Excludes student loans that are insured by ReliaMax Surety Company. (2) The insured student loans that are 90 or more days past due are excluded from non-performing assets. (3) The insured student loan balance of $123.7 million is excluded from the total loan balance. (4) The insured student loans that are 90 or more days past due are excluded from non-performing loans. Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations This section should be read in conjunctionwith the following parts of this Form10-K: Part II, Item8 “Financial Statements and Supplementary Data,” Part II, Item 7A, “Quantitative and Qualitative Disclosures About Market Risk,” and Part I, Item 1 “Business.” General The Company, a registered unitary savings and loan holding company, is a Delaware corporation, the principal assets of which are all the issued and outstanding shares of the Bank, a federal savings bank. Unless the context otherwise requires, references herein to the Company include Meta Financial and the Bank, and all subsidiaries of Meta Financial, direct or indirect, on a consolidated basis.