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Meta Financial Group Inc. reports profit growth

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Meta Financial Group Inc. reported reported net income of $5.2 million, or 78 cents per share, on total revenues of $30.3 million at the end of its second fiscal quarter on March 31, compared with profits of $4.1 million, or 67 cents per share on revenues of $24.6 million in the year-ago period. Net income for the six months ending March 31 was $8.8 million, up from $8.1 million over same period last year. Total loans increased $125.7 million, or 26 percent, to $618.7 million at at the end of the second quarter. Return on average assets for the six months ended March 31 was 0.78 percent, compared with 0.87 percent in the year-ago period. The Sioux Falls, S.D.-based operation, which has bank branches in Greater Des Moines, reported average assets of $2.38 billion at the end of the second quarter, compared with $1.94 billion a year ago.