Pathward Financial Inc 2025年度报告

INVESTOR INFORMATION STOCKHOLDER SERVICES ANNUAL MEETING OF STOCKHOLDERS The Annual Meeting of Stockholders will convene at 9:00 a.m.Central Standard Time on Tuesday, February 24, 2026. The meetingwill be held virtually via the internet. Further information with regardto this meeting can be found in the proxy statement. Stockholders desiring to change the name, address or ownership ofstock; to report lost certifi cates; or to consolidate accounts shouldcontact the corporation’s transfer agent: Computershare Investor Services150 Royall St., Suite 101Canton, MA 02021Toll: 201-680-6578Toll Free: 800-522-6645 FORM 10-K Copies of the Company’s Annual Report on Form 10-K for the yearended September 30, 2025 (excluding exhibits thereto) includedin this document may also be obtained, without charge, frompathwardfinancial.com. INVESTOR RELATIONS Requests for Form 10-K, other inquiries or investor comments arewelcome and should be directed to: Pathward Corporate ServicesDarby Schoenfeld, CPASVP, Chief of Staff and Investor Relations5501 South Broadband LaneSioux Falls, SD 57108 Telephone: 877.497.7497investorrelations@pathward.compathwardfinancial.com ABOUT PATHWARD FINANCIAL, INC. Pathward Financial, Inc. (Nasdaq: CASH) is a U.S.-based financial holding company driven by its purpose to power financial inclusion for all. Throughour subsidiary, Pathward®, N.A., we strive to increase fi nancial availability, choice, and opportunity across our Partner Solutions and CommercialFinance business lines. These strategic business lines provide support to individuals and businesses.Learn more at www.pathwardfi nancial.com. A MESSAGE FROMCHIEF EXECUTIVE OFFICERBRETT PHARR TO MY FELLOW STOCKHOLDERS, This fiscal year, the Pathward team did a great job delivering on the 2025 strategy we outlined at the end of last year,achieving many successes across the business. We stand by our belief that financial services should be available to everyone.As we support individuals and small and medium sized businesses who need financial access, we inherently evolve with themarketplace and meet folks where they want to be met. This means we not only help the unbanked and underbanked, but hasincreasingly led us to digital first consumers, as well as those who prefer digital only. For businesses, we are expanding accessto loans as well as acquiring services. With the help of our partners, we are identifying gaps in the market and providingsolutions, fulfilling our purpose of financial inclusion. We had quite the fiscal year. From completing the sale of our insurance premium finance business and the transportationportfolio, hiring a new Chief People and Culture Officer, to contracting with several new partners, and winning multiple awards,the team at Pathward has done a phenomenal job executing on our strategy in 2025. We consider ourselves privileged tooperate in this capacity, and I am very proud of all that we were able to accomplish together this year. In Commercial Finance, we continued to optimize the balance sheet by focusing on risk-adjusted returns. This led us to thedecision to complete the divestiture of our insurance premium finance business and the sale of our transportation loanportfolio. We also improved many of our performance metrics, including strong growth in total loans and leases and returnon average assets when compared to September 30, 2024. In Partner Solutions, we not only brought on new partnershipsbut also expanded our existing partnerships with Pathward’s products and capabilities. The execution of our strategy resulted in improved financial results. In fiscal year 2025, we reported net income of $186million. Earnings per diluted share increased 9% to $7.87 compared to $7.20 in fiscal year 2024. Our results were drivenprimarily by an increase in noninterest income of 10% when compared to last year. But, we also expanded our full year netinterest margin to 7.34%. EXECUTION OF 2025 STRATEGY Being the trusted platform that enables our partners to thrive provides Pathward with the ability to deliver on our purpose offinancial inclusion while also growing our business. We saw this growth materialize primarily in two ways: moving toward anoptimized balance sheet with optimized asset mix and expanding our Partner Solutions businesses. In Commercial Finance, the team was laser focused on asset rotation into the highest yielding portfolios where we believedwe had a competitive advantage or that provided us with optionality. This led to the shrinking of our securities portfolio infavor of loans while also maintaining our current standards and discipline around collateralized lending. In Partner Solutions, we believe investing in technology to facilitate evolution and scalability is imperative for us to be acomprehensive source of growth for our partners. Because of our continued investment, we believe we were able to innovateand scale solutions alongside our partners and address market needs in a unique way t