CASH 2018 Annual Report

82 Year Ended September 30, 2018 2017 2016 2015 2014 SELECTED FINANCIAL RATIOS AND OTHER DATA PERFORMANCE RATIOS Return on average assets 1.12% 1.13% 1.10% 0.78% 0.81% Return on average equity 10.44% 11.20% 10.80% 8.83% 10.01% Net interest margin, tax equivalent 3.41% 3.05% 3.19% 3.03% 2.80% QUALITY RATIOS Non-performing assets to total assets 0.72% 0.72% 0.03% 0.31% 0.05% Allowance for loan and lease losses to total loans and leases 0.44% 0.57% 0.61% 0.88% 1.08% Allowance for loan and lease losses to non- performing loans and leases 128% 20% 479% 80% 547% CAPITAL RATIOS Stockholders' equity to total assets 12.81% 8.31% 8.36% 10.73% 8.51% Average stockholders' equity to average assets 10.72% 10.07% 10.19% 8.81% 8.14% OTHER DATA Book value per common share outstanding at end of year $ 19.09 $ 15.05 $ 13.10 $ 11.08 $ 9.44 Tangible book value per common share outstanding at end of year 9.54 9.82 10.52 8.20 9.30 Dividends declared per share at end of year 0.18 0.17 0.17 0.17 0.17 Number of full-service branch offices at end of year 10 10 10 10 11 Common shares outstanding 39,167,280 28,867,785 25,570,923 24,489,066 18,508,812 Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations This section should be read in conjunction with the following parts of this Form 10-K: Part II, Item 8 “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 and the Bank, and all subsidiaries of Meta, direct or indirect, on a consolidated basis. Overview of Corporate Developments Since Fiscal Year 2017 On October 30, 2018, the Company announced that its Board of Directors appointed Brad Hanson, President of Meta Financial Group, MetaBank and Meta Payment Systems, to the additional role of Chief Executive Officer, effective immediately. Hanson also remains on the Meta Board. Hanson replaces J. Tyler Haahr, who stepped down as Chief Executive Officer. It is expected that Haahr will remain Chairman of the Board and an employee through the Company’s Annual Meeting of Stockholders expected to be held in January 2019. Frederick V. Moore, currently Lead Director and Vice Chairman, has been appointed to serve as Chairman effective following the date of the Annual Meeting.