In 2014, MetaBank announced the acquisition of AFS/IBEX Financial Services Inc., an insurance premium financing company based in Dallas, Texas. In 2009, MetaBank introduced a new retail product line and the MPS division became a leading issuer of rebate and gift cards in the United States and worldwide and one of the top issuers of Visa, MasterCard and Discover prepaid cards. The next year, in 2005, all bank divisions under First Federal changed their names to MetaBank, inhabiting four market areas: Central Iowa Northwest Iowa Brookings and Sioux Falls. In 2004, the Meta Payment Systems (MPS) division was established in Sioux Falls. Expansion MetaBank Corporate Services Headquarters in Sioux Fallsįirst Federal opened the doors to its first Sioux Falls office – a temporary facility – on Sept. In March 2020, Pathward announced the sale of its community bank division to Central Bank, a state-chartered bank headquartered in Storm Lake, Iowa. In January 2018, Pathward acquired Crestmark Bank. In 1996, Iowa Savings Bank in Des Moines was purchased and operated as the Iowa Savings Bank Division of First Federal Savings Bank of the Midwest. In 1994, Brookings Federal Bank, a federal savings bank in Brookings, South Dakota, was acquired and operated as the Brookings Federal Bank Division of First Federal Savings Bank of the Midwest. 20, 1993, 1.9 million shares of stock in First Midwest Financial, Inc., were issued at $10 per share and began trading on the NASDAQ stock market under the symbol “CASH.” Acquisitions By 1993, the bank changed its name from First Federal Savings and Loan Association of Storm Lake to First Federal Savings Bank of the Midwest, a subsidiary of First Midwest Financial, Inc. The bank purchased the Bradford Hotel property in Storm Lake at Fifth and Erie in 1970, and construction was completed on the bank's new headquarters in 1972. Haahr, who remained on the Board of Directors until 1990 and served as board chairman from 1981 to 1990. Pathward was founded as Storm Lake Savings and Loan Association in 1954 by Stanley H. History Founding Original Storm Lake Savings and Loan Association building The bank operates in several segments within the Banking and Payments industries: Pathward, its traditional retail banking operation Pathward Payment Systems, its electronic payments division AFS/IBEX, its insurance premium financing division and Refund Advantage, EPS Financial and Specialty Consumer Services, its tax-related financial solutions divisions. Pathward is a Member of the Federal Deposit Insurance Corporation. The bank changed its name in 2022 when Meta Financial Group sold its "Meta" trademark to Meta Platforms. Treasury's "financial agent" for this purpose. Pathward issued debit cards of up to $600 sent to millions of Americans as part of the second round of COVID-19 Economic Impact Payments in January 2021. It offers traditional banking services designed to serve the needs of individual, agricultural, and business depositors and borrowers. Pathward (previously known as MetaBank) is a United States bank with retail branches in Iowa and South Dakota.
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