MetaBank will acquire a majority of the assets of EPS Financial LLC, which provides tax-related financial services, for $42.5 million in cash and the stock of its parent company, Meta Financial Group Inc., according to a release. The boards of Meta Financial and EPS Financial’s parent, Drake Enterprises Ltd. of Franklin, N.C., have approved the acquisition, which is expected to close before the end of the year. EPS Financial services include refund settlement products, prepaid payroll card services and merchant services. EPS Financial will continue to operate out of Easton, Pa. Meta Financial, of Sioux Falls, S.D., said in the release that the acquisition will provide immediate growth of more 10 percent to Meta’s earnings per share in the first full year of combined operations. Meta does not anticipate the need to raise additional capital for this acquisition and expects to realize approximately 12 percent tangible book value dilution from the transaction at close with an earn-back period of about four years. MetaBank has four branches in Greater Des Moines.