Financial Analysis

SHORT-TERM AND LONG-TERM BORROWINGS Short-Term Borrowings (Dollars in thousands) September 30, 2025 September 30, 2024 Overnight fed funds purchased $ 9,000 $ 377,000 Total $ 9,000 $ 377,000 The Company had $9.0 million of overnight federal funds purchased from the FHLB and none from other financial institutions at September 30, 2025, as compared to $257.0 million from the FHLB and $120.0 million from other financial institutions at September 30, 2024. The Bank has executed blanket pledge agreements whereby the Bank assigns, transfers, and pledges to the FHLB and grants to the FHLB a security interest in real estate and securities collateral. The Bank has the right to use, commingle, and dispose of the collateral it has assigned to the FHLB. Under the agreement, the Bank must maintain eligible collateral that has a lending value at least equal to the required collateral amount, all as defined by the agreement. At September 30, 2025 and 2024, the Bank pledged securities with fair values of approximately $955.3 million and $1.04 billion, respectively, to be used against FHLB advances as needed. In addition, qualifying loans of approximately $223.0 million were pledged as collateral at September 30, 2025 compared to $136.9 million at September 30, 2024. The Company had no securities sold under agreements to repurchase at September 30, 2025 and 2024. Long-Term Borrowings (Dollars in thousands) September 30, 2025 September 30, 2024 Trust preferred securities $ 13,661 $ 13,661 Subo …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

"STOCK COMPENSATION On February 27, 2024, the shareholders of the Company voted to approve the Pathward Financial, Inc. 2023 Omnibus Incentive Plan (the ""Plan""). The Plan permits the granting of various types of awards including but not limited to nonvested (restricted) shares and PSUs to certain officers and directors of the Company. Awards may be granted by the Compensation Committee of the Board of Directors based on the performance of the award recipients or other relevant factors. Shares have previously been granted each year to executives and senior leadership members under the applicable Company incentive plan. In addition, beginning in fiscal year 2025, awards were made to certain employees as time-vesting restricted stock units settleable in shares (""RSUs""). These shares and RSUs generally vest at various times ranging from immediately to three years based on circumstances at time of grant. The grant date fair value is determined based on the fair market value of the Companys stock on the grant date, determined in accordance with applicable accounting standards. Director shares are issued to the Companys directors, and these shares have historically vested from immediately to up to one year from the grant date. The Company also grants selected executives PSU awards. The vesting of these awards is contingent on meeting company-wide performance goals, including earnings per share. The awards generally vest over a period of three years and have payout levels ranging …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

FAIR VALUES OF FINANCIAL INSTRUMENTS ASC 820, Fair Value Measurements defines fair value, establishes a framework for measuring the fair value of assets and liabilities using a hierarchy system and requires disclosures about fair value measurement. It clarifies that fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the market in which the reporting entity transacts. The fair value hierarchy is as follows: Level 1 Inputs - Valuation is based upon quoted prices for identical instruments traded in active markets that the Company has the ability to access at measurement date. Level 2 Inputs - Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which significant assumptions are observable in the market. Level 3 Inputs - Valuation is generated from model-based techniques that use significant assumptions not observable in the market and are used only to the extent that observable inputs are not available. These unobservable assumptions reflect the Companys own estimates of assumptions that market participants would use in pricing the asset or liability. There were no transfers between levels of the fair value hierarchy for the fiscal years ended September 30, 2025 or 2024. Debt Securities AFS and HTM . Debt securities AFS are record …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

GOODWILL AND INTANGIBLE ASSETS The Company held a total of $297.9 million of goodwill at September 30, 2025. The recorded goodwill is a result of multiple business combinations that occurred from 2015 to 2018. During the fiscal year ended September 30, 2025, the Company closed on the sale of the commercial insurance premium finance business and derecognized the goodwill associated with that reporting unit. The goodwill was included in the carrying amount of the disposed business. See Note 2. Divestitures to the Consolidated Financial Statements for further information. The changes in the carrying amount of the Company's goodwill were as follows: (Dollars in Thousands) Consumer Commercial Corporate Services/Other Total September 30, 2024 $ 87,145 $ 222,360 $ $ 309,505 Divestiture (11,577) (11,577) September 30, 2025 $ 87,145 $ 210,783 $ $ 297,928 September 30, 2023 $ 87,145 $ 222,360 $ $ 309,505 September 30, 2024 $ 87,145 $ 222,360 $ $ 309,505 The changes in the carrying amount of the Companys intangible assets during the fiscal year ended September 30, 2025 include certain intangibles disposed of as part of the commercial insurance premium finance business sale. The relevant intangibles were included in the carrying amount of the disposed business. See Note 2. Divestitures to the Consolidated Financial Statements for further information. (Dollars in thousands) Trademark (1) Non-Compete Customer Relationships (2) All Others (3) Total September 30, 2024 $ 6,422 $ $ 6,566 $ 3,6 …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

INCOME TAXES The Company and its subsidiaries file a consolidated federal income tax return on a fiscal year basis. The provision for income taxes were as follows: Fiscal Year Ended September 30, (Dollars in thousands) 2025 2024 2023 Federal: Current $ 10,407 $ 9,770 $ 8,792 Deferred 15,754 13,276 (6,688) 26,161 23,046 2,104 State: Current 9,060 8,172 7,935 Deferred 1,045 2,890 (452) 10,105 11,062 7,483 Income tax expense $ 36,266 $ 34,108 $ 9,587 The tax effects of the Company's temporary differences that give rise to significant portions of its deferred tax assets and liabilities were: (Dollars in thousands) September 30, 2025 September 30, 2024 Deferred tax assets: Allowance for credit losses $ 12,938 $ 17,647 Deferred compensation 4,511 4,351 Stock based compensation 2,084 2,402 Valuation adjustments 78 175 General business credits (1) 49,070 55,471 Accrued expenses 2,807 2,763 Lease liability 5,930 6,503 Net unrealized loss on securities available for sale 47,167 50,819 Premises and equipment 4,998 3,939 Deferred income 2,386 Other assets 2,276 3,940 134,245 148,010 Deferred tax liabilities: Intangibles (8,366) (7,859) Leased assets (80,012) (76,016) Right-of-use assets (5,678) (6,218) Life insurance redemption (3,493) Other liabilities (466) (1,346) (98,015) (91,439) Net deferred tax assets $ 36,230 $ 56,571 (1) The general business credits are investment tax credits generated from qualified solar energy property placed in service during the fiscal years ended September …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

"OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES Operating lease right-of-use (""ROU"") assets, included in other assets , were $22.7 million and $24.4 million at September 30, 2025 and 2024, respectively. Operating lease liabilities, included in accrued expenses and other liabilities , were $24.0 million and $26.0 million at September 30, 2025 and 2024, respectively. The decreases in lease ROU assets and liabilities relate to normal amortization and lease payments made during the fiscal year ended September 30, 2025, but also include adjustments for lease assignments that occurred as a result of the commercial insurance premium finance business sale during the fiscal 2025 first quarter. Two office locations, Newport Beach, California and Addison, Texas, were included in the sale of the commercial insurance premium finance business and the relevant lease ROU assets and liabilities are no longer reflected in the Company's Condensed Consolidated Financial Statements after the transaction closed. The derecognition of the relevant lease ROU assets and liabilities resulted in a $0.5 million gain on remeasurement that was recognized as part of the overall gain on divestitures from the commercial insurance premium finance business sale. See Note 2. Divestitures to the Condensed Consolidated Financial Statements for further information. Undiscounted future minimum operating lease payments and a reconciliation to the amount recorded as operating lease liabilities at September 30, …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

"RECENTLY ADOPTED ACCOUNTING STANDARDS UPDATES (""ASU"") The following ASU was adopted by the Company during the fiscal year ended September 30, 2025 and did not have a material impact on the Company's Consolidated Financial Statements. The following ASU became effective for the Company on October 1, 2024. ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU improves reportable segment disclosures primarily by enhancing disclosure requirements about significant segment expenses. The amendments were effective for the Company beginning October 1, 2024, and the amended guidance was first applied to the Company's annual consolidated financial statements for the fiscal year ending September 30, 2025 using a retrospective transition method. This ASU impacts disclosure only, and therefore does not have an impact on our consolidated financial statements. See Note 17. Segment Reporting. The following ASUs have been issued and are considered applicable to the Company, but have not yet been adopted as of September 30, 2025. ASU 2023-09, Income Taxes (ASC 740): Improvements to Income Tax Disclosures. This ASU requires enhanced income tax disclosures primarily related to the rate reconciliation and income taxes paid information to provide further transparency surrounding the Companys income tax position. The amendments in this ASU will be effective for the Company beginning on October 1, 2025 and will apply to the Company's annual consolidat …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

REVENUE FROM CONTRACTS WITH CUSTOMERS Topic 606 applies to all contracts with customers unless such revenue is specifically addressed under existing guidance. The table below presents the Companys revenue by operating segment. For additional descriptions of the Companys operating segments, including additional financial information and the underlying management accounting process, see Note 17. Segment Reporting to the Consolidated Financial Statements. (Dollars in thousands) Consumer Commercial Corporate Services/Other Consolidated Company Fiscal Year Ended September 30, 2025 2024 2025 2024 2025 2024 2025 2024 Net interest income (1) $ 300,013 $ 279,610 $ 185,497 $ 194,075 $ 26,284 $ 24,140 $ 511,794 $ 497,825 Noninterest income: Refund transfer product fees 43,980 40,178 43,980 40,178 Refund advance and other tax fee income (1) 48,705 43,473 48,705 43,473 Card and deposit fees 124,169 124,949 771 967 31 27 124,971 125,943 Rental income (1) 50,804 53,443 882 714 51,686 54,157 (Loss) on sale of securities (1) (25,084) (25,084) Gain on sale of divestitures (1) 15,044 15,044 Secondary market revenue (1) 59 (5) 23,634 5,925 13,329 37,022 5,920 Gain (loss) on sale of other (1) 4,632 1,777 519 4,972 5,151 6,749 Other income (1) 10,335 8,512 11,063 9,636 5,227 5,019 26,625 23,167 Total noninterest income 227,248 217,107 90,904 71,748 9,948 10,732 328,100 299,587 Revenue $ 527,261 $ 496,717 $ 276,401 $ 265,823 $ 36,232 $ 34,872 $ 839,894 $ 797,412 (1) These revenues are not within th …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"SEGMENT REPORTING An operating segment is generally defined as a component of a business for which discrete financial information is available and whose results are reviewed by the chief operating decision-maker (""CODM"") to appropriately allocate entity resources and evaluate performance. The Company has identified the CODM to be the Chief Executive Officer (""CEO"") of Pathward Financial, Inc. Operating segments are aggregated into reportable segments if certain criteria are met. The Company reports its results of operations through the following three business segments: Consumer, Commercial, and Corporate Services/Other. The Company evaluated the listed operating segments based on their business processes, consumers, and variety of economic characteristics. The Partner Solutions business line is reported in the Consumer segment. The Commercial Finance business line is reported in the Commercial segment. The Corporate Services/Other segment includes certain shared services as well as treasury related functions such as the investment portfolio, warehouse finance, wholesale deposits, and borrowings. The CODM reviews the performance and aggregates resources based on various factors but primarily through the evaluation of income (loss) before income tax expense. The significant expenses that have been deemed meaningful to the segments and regularly reported to the CODM are summarized below. These expenses are directly attributable to each of the three business segments. Share …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES PRINCIPLES OF CONSOLIDATION The Consolidated Financial Statements include the accounts of Pathward Financial, Inc. (""Pathward Financial"" or the Company or ""us""), a registered bank holding company located in Sioux Falls, South Dakota, and its wholly-owned subsidiaries. The Company's subsidiaries include Pathward , National Association (""Pathward , N.A."" or ""Pathward"" or the Bank), a national bank whose primary federal regulator is the Office of the Comptroller of the Currency (the ""OCC""), and Pathward Venture Capital, LLC, a wholly-owned service corporation subsidiary of Pathward, N.A. which invests in companies in the financial services industry. All significant intercompany balances and transactions have been eliminated. The Company also owns 100% of First Midwest Financial Capital Trust I (the Trust), which was formed in July 2001 for the purpose of issuing trust preferred securities, and Crestmark Capital Trust I, which was acquired from the Crestmark Acquisition in August 2018. The Trust and Crestmark Capital Trust I are not included in the Consolidated Financial Statements of the Company. In addition, the Company is a variable interest holder in certain entities in which the equity holders do not have the characteristics of a controlling financial interest or where the entity does not have enough equity at risk to finance its activities without additional subordinated financial support (referred to as variable interes …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

STOCKHOLDERS' EQUITY Repurchase of Common Stock. The Company's Board of Directors authorized the September 3, 2021 share repurchase program to repurchase up to 6,000,000 shares of the Company's outstanding common stock. This authorization was effective from September 3, 2021 through September 30, 2024, with 146,435 shares authorized by this repurchase program not repurchased when it expired. On August 25, 2023, the Company's Board of Directors announced a share repurchase program to repurchase up to an additional 7,000,000 shares of the Company's outstanding common stock on or before September 30, 2028. During the fiscal years ended September 30, 2025 and 2024, the Company repurchased 2,062,184 and 1,520,001 shares, respectively, as part of the share repurchase programs. Under the repurchase programs, repurchased shares were retired and designated as authorized but unissued shares. The Company accounts for repurchased shares using the par value method under which the repurchase price is credited to paid-in capital up to the par value of those shares. When the repurchase price is greater than the original issue proceeds, the excess is charged to retained earnings. As of September 30, 2025, 4,937,816 shares of common stock remained available for repurchase. For the fiscal years ended September 30, 2025 and 2024, the Company also repurchased 66,446 and 126,221 shares, or $4.6 million and $6.1 million, of common stock, respectively, in settlement of employee tax withholding oblig …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

SUBSEQUENT EVENTS Management has evaluated subsequent events that occurred after September 30, 2025. During this period, up to the filing date of this Annual Report on Form 10-K, management identified the following subsequent event: On September 26, 2025, the Company entered into an agreement to sell a portion of its consumer finance loan portfolio to a third party. The transaction closed on October 3, 2025. As part of the transaction, $115.1 million of consumer finance loans were sold, and there was no gain or loss associated with the sale of the loans. …

SubsequentEventsTextBlock · excerpt; the full note is in the filing

"STOCK COMPENSATION The Pathward Financial, Inc. 2023 Omnibus Incentive Plan permits the granting of various types of awards including but not limited to nonvested (restricted) shares and PSUs to certain officers and directors of the Company. Awards may be granted by the Compensation Committee of the Board of Directors based on the performance of the award recipients or other relevant factors. Shares have previously been granted each year to executives and senior leadership members under the applicable Company incentive plan. In addition, beginning in fiscal year 2025, awards were made to certain employees as time-vesting restricted stock units settleable in shares (""RSUs""). These shares and RSUs generally vest at various times ranging from immediately to three years based on circumstances at time of grant. The grant date fair value is determined based on the fair market value of the Companys stock on the grant date, determined in accordance with applicable accounting standards. Director shares are issued to the Companys directors, and these shares have historically vested from immediately to up to one year from the grant date. The Company also grants selected executives PSU awards. The vesting of these awards is contingent on meeting company-wide performance goals, including earnings per share and total shareholder return. The awards generally vest over a period of three years and have payout levels ranging from a threshold of 50% to a maximum of 200%. Upon vesting, each P …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

FAIR VALUE OF FINANCIAL INSTRUMENTS ASC 820, Fair Value Measurements defines fair value, establishes a framework for measuring the fair value of assets and liabilities using a hierarchy system and requires disclosures about fair value measurement. It clarifies that fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the market in which the reporting entity transacts. The fair value hierarchy is as follows: Level 1 Inputs - Valuation is based upon quoted prices for identical instruments traded in active markets that the Company has the ability to access at measurement date. Level 2 Inputs - Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which significant assumptions are observable in the market. Level 3 Inputs - Valuation is generated from model-based techniques that use significant assumptions not observable in the market and are used only to the extent that observable inputs are not available. These unobservable assumptions reflect the Companys own estimates of assumptions that market participants would use in pricing the asset or liability. Debt Securities AFS and HTM . Debt securities AFS are recorded at fair value on a recurring basis and debt securities HTM are carried at amortized cost. The fair value of debt securit …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

GOODWILL AND INTANGIBLE ASSETS The Company held a total of $297.9 million of goodwill at December 31, 2025. The recorded goodwill is a result of multiple business combinations that occurred from 2015 to 2018. There have been no changes to the carrying amount of goodwill during the three months ended December 31, 2025. The changes in the carrying amount of the Companys intangible assets were as follows: (Dollars in thousands) Trademark (1) Customer Relationships (2) All Others (3) Total September 30, 2025 $ 5,346 $ 4,111 $ 3,045 $ 12,502 Amortization during the period (274) (312) (132) (718) December 31, 2025 $ 5,072 $ 3,799 $ 2,913 $ 11,784 Gross carrying amount $ 13,774 $ 70,338 $ 7,732 $ 91,844 Accumulated amortization (8,702) (55,621) (4,666) (68,989) Accumulated impairment (10,918) (153) (11,071) December 31, 2025 $ 5,072 $ 3,799 $ 2,913 $ 11,784 September 30, 2024 $ 6,422 $ 6,566 $ 3,601 $ 16,589 Amortization during the period (269) (411) (132) (812) Write-offs and disposals during the period (631) (631) December 31, 2024 $ 6,153 $ 5,524 $ 3,469 $ 15,146 Gross carrying amount $ 13,774 $ 70,338 $ 7,732 $ 91,844 Accumulated amortization (7,621) (53,896) (4,110) (65,627) Accumulated impairment (10,918) (153) (11,071) December 31, 2024 $ 6,153 $ 5,524 $ 3,469 $ 15,146 (1) Book amortization period of 5-15 years. Amortized using the straight line and accelerated methods. (2) Book amortization period of 10-30 years. Amortized using the accelerated method. (3) Book amortization …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

INCOME TAXES The Company recorded an income tax expense of $7.2 million for the three months ended December 31, 2025, resulting in an effective tax rate of 16.9%, compared to an income tax expense of $6.0 million, or an effective tax rate of 16.6%, for the three months ended December 31, 2024. The Companys effective tax rate was lower than the U.S. statutory rate of 21% primarily because of the effect of investment tax credits during fiscal year 2026. The Company's effective tax rate in the future will depend in part on actual investment tax credits generated from qualified renewable energy property. The table below compares the income tax expense components for the periods presented. Three Months Ended December 31, (Dollars in thousands) 2025 2024 Provision at statutory rate $ 8,896 $ 7,554 Tax-exempt income (150) (168) State income taxes 1,535 1,177 Interim period effective rate adjustment 2,679 1,803 Tax credit investments, net - federal (5,180) (3,167) 162(m) disallowance 176 55 Other, net (763) (1,249) Income tax expense $ 7,193 $ 6,005 Effective tax rate 16.9 % 16.6 % …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

"OPERATING LEASE RIGHT-OF-USE ASSETS AND LIABILITIES Operating lease right-of-use (""ROU"") assets, included in other assets , were $22.0 million and $22.7 million at December 31, 2025 and September 30, 2025, respectively. Operating lease liabilities, included in accrued expenses and other liabilities , were $23.2 million and $24.0 million at December 31, 2025 and September 30, 2025, respectively. The decreases in lease ROU assets and liabilities relate to normal amortization and lease payments made during the three months ended December 31, 2025. Undiscounted future minimum operating lease payments and a reconciliation to the amount recorded as operating lease liabilities at December 31, 2025 were as follows: (Dollars in thousands) Remaining in 2026 $ 2,575 2027 3,356 2028 3,447 2029 3,486 2030 3,036 Thereafter 10,071 Total undiscounted future minimum lease payments 25,971 Discount (2,723) Total operating lease liabilities $ 23,248 The weighted-average discount rate and remaining lease term for operating leases were as follows: December 31, 2025 September 30, 2025 Weighted-average discount rate 2.64 % 2.65 % Weighted-average remaining lease term (years) 7.74 7.97 The components of total lease costs for operating leases were as follows: Three Months Ended December 31, (Dollars in thousands) 2025 2024 Lease expense $ 894 $ 919 Short-term and variable lease cost 29 21 Sublease income (412) (352) Total lease cost for operating leases $ 511 $ 588"

LesseeOperatingLeasesTextBlock

"Significant accounting policies in effect and disclosed within the Companys most recent audited consolidated financial statements as of September 30, 2025 remain substantially unchanged. The following ASU became effective for the Company on October 1, 2025. ASU 2023-09, Income Taxes (ASC 740): Improvements to Income Tax Disclosures . This ASU requires enhanced income tax disclosures primarily related to the rate reconciliation and income taxes paid information to provide further transparency surrounding the Companys income tax position. The amendments in this ASU will result in disclosure only impacts that the Company will first apply for its annual reporting period ending September 30, 2026. The Company is currently evaluating the impact of such amendments to the relevant annual disclosures. The following ASUs have been issued and are considered applicable to the Company, but have not yet been adopted. ASU 2024-03 , Income StatementReporting Comprehensive IncomeExpense Disaggregation Disclosures. This ASU requires public entities to provide enhanced disaggregation of certain expense categories presented in the income statement to improve transparency and consistency in financial reporting. The new guidance aims to provide investors with more detailed information regarding the nature of a companys expenses. The amendments will be effective for the Company beginning with the fiscal year ending September 30, 2027, and interim periods within that fiscal year. The amendments are …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

"REVENUE FROM CONTRACTS WITH CUSTOMERS Topic 606 applies to all contracts with customers unless such revenue is specifically addressed under existing guidance. The table below presents the Companys revenue by operating segment. For additional descriptions of the Companys operating segments, including additional financial information and the underlying management accounting process, see Note 13. Segment Reporting to the Condensed Consolidated Financial Statements. (Dollars in thousands) Consumer Commercial Corporate Services/Other Consolidated Company Three Months Ended December 31, 2025 2024 2025 2024 2025 2024 2025 2024 Net interest income (expense) (1) $ 70,892 $ 81,063 $ 49,820 $ 43,293 $ (1,374) $ 895 $ 119,338 $ 125,251 Noninterest income: Refund transfer product fees 355 410 355 410 Refund advance and other tax fee income (1) 131 459 131 459 Card and deposit fees 29,949 28,828 184 232 7 6 30,140 29,066 Rental income (1) 11,381 13,508 239 200 11,620 13,708 (Loss) on sale of securities (1) (15,671) (15,671) Gain on divestitures (1) 16,404 16,404 Secondary market revenue (1) 40 4,157 4,338 4,157 4,378 Gain on sale of other (1) 488 531 456 488 987 Other income (1) 1,626 3,864 4,399 2,630 847 1,143 6,872 7,637 Total noninterest income 32,061 33,601 20,609 21,239 1,093 2,538 53,763 57,378 Revenue $ 102,953 $ 114,664 $ 70,429 $ 64,532 $ (281) $ 3,433 $ 173,101 $ 182,629 (1) These revenues are not within the scope of Topic 606. Additional details are included in other footnotes …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"SEGMENT REPORTING An operating segment is generally defined as a component of a business for which discrete financial information is available and whose results are reviewed by the chief operating decision-maker (""CODM"") to appropriately allocate entity resources and evaluate performance. The Company has identified the CODM to be the Chief Executive Officer of Pathward Financial, Inc. Operating segments are aggregated into reportable segments if certain criteria are met. The Company reports its results of operations through the following three business segments: Consumer, Commercial, and Corporate Services/Other. The Company evaluated the listed operating segments based on their business processes, consumers, and variety of economic characteristics. The Partner Solutions business line is reported in the Consumer segment. The Commercial Finance business line is reported in the Commercial segment. The Corporate Services/Other segment includes certain shared services as well as treasury related functions such as the investment portfolio, warehouse finance, wholesale deposits, and borrowings. The CODM reviews the performance and aggregates resources based on various factors but primarily through the evaluation of income (loss) before income tax expense. The significant expenses that have been deemed meaningful to the segments and regularly reported to the CODM are summarized below. These expenses are directly attributable to each of the three business segments. Shared services …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND RECENTLY ADOPTED ACCOUNTING STANDARDS UPDATES (""ASU"") Significant accounting policies in effect and disclosed within the Companys most recent audited consolidated financial statements as of September 30, 2025 remain substantially unchanged. The following ASU became effective for the Company on October 1, 2025. ASU 2023-09, Income Taxes (ASC 740): Improvements to Income Tax Disclosures . This ASU requires enhanced income tax disclosures primarily related to the rate reconciliation and income taxes paid information to provide further transparency surrounding the Companys income tax position. The amendments in this ASU will result in disclosure only impacts that the Company will first apply for its annual reporting period ending September 30, 2026. The Company is currently evaluating the impact of such amendments to the relevant annual disclosures. The following ASUs have been issued and are considered applicable to the Company, but have not yet been adopted. ASU 2024-03 , Income StatementReporting Comprehensive IncomeExpense Disaggregation Disclosures. This ASU requires public entities to provide enhanced disaggregation of certain expense categories presented in the income statement to improve transparency and consistency in financial reporting. The new guidance aims to provide investors with more detailed information regarding the nature of a companys expenses. The amendments will be effective for the Company beginning with the …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

STOCKHOLDERS' EQUITY Repurchase of Common Stock. The Company's Board of Directors authorized a share repurchase program to repurchase up to 7,000,000 shares of the Company's outstanding common stock on or before September 30, 2028. During the three months ended December 31, 2025 and 2024, the Company repurchased 651,804 and 701,860 shares, respectively, as part of the share repurchase program. Under the repurchase program, repurchased shares were retired and designated as authorized but unissued shares. The Company accounts for repurchased shares using the par value method under which the repurchase price is credited to paid-in capital up to the par value of those shares. When the repurchase price is greater than the original issue proceeds, the excess is charged to retained earnings. As of December 31, 2025, 4,286,012 shares of common stock remained available for repurchase. For the three months ended December 31, 2025 and 2024, the Company also repurchased 51,068 and 66,446 shares, or $3.5 million and $4.6 million, of common stock, respectively, in settlement of employee tax withholding obligations due upon the vesting of restricted stock. Retirement of Treasury Stock. The Company accounts for the retirement of repurchased shares, including treasury stock, using the par value method under which the repurchase price is charged to paid-in capital up to the amount of the original proceeds of those shares. When the repurchase price is greater than the original issue proceeds, t …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

SUBSEQUENT EVENTS Management has evaluated subsequent events that occurred after December 31, 2025. During this period, up to the filing date of this Quarterly Report on Form 10-Q, management did not identify any material subsequent events that would require recognition or disclosure in our Condensed Consolidated Financial Statements as of or for the quarter ended December 31, 2025.

SubsequentEventsTextBlock