SIOUX FALLS, S.D., June 28, 2018–Meta Financial Group, Inc.® (NASDAQ:CASH) (“Meta” or the “Company”), the holding company for its federally chartered savings bank subsidiary, MetaBank®, announced today that all necessary bank regulatory approvals relating to the acquisition of Crestmark Bancorp, Inc. (“Crestmark”), the holding company for its Michigan state-chartered bank subsidiary, Crestmark Bank, have been received. Subject to the satisfaction of customary closing conditions, and following the expiration of the 15-day waiting period required by the U.S. Department of Justice, the transaction is expected to close on Wednesday, August 1, 2018.
As previously disclosed, Meta and Crestmark shareholders approved the transaction at their respective special meetings of shareholders held on May 29, 2018.
“With bank regulatory and shareholder approvals in hand, we are looking forward to completing this transformational deal. Work towards the integration process continues and we are excited to capitalize on growth opportunities and innovation in the commercial and industrial lending space,” said J. Tyler Haahr, Chairman and CEO of Meta.
About Meta Financial Group
Meta Financial Group, Inc. (“Meta”) is the holding company for MetaBank®, a federally chartered savings bank. Shares of Meta common stock are traded on the NASDAQ Global Select Market® under the symbol CASH. Headquartered in Sioux Falls, S.D., MetaBank operates in both the Banking and Payments industries through: MetaBank, its community banking operation; Meta Payment Systems, its electronic payments division; AFS/IBEX, its commercial insurance premium financing division; and Refund Advantage, EPS Financial and Specialty Consumer Services, its tax-related financial solutions divisions. More information is available at metafinancialgroup.com.
About Crestmark Bancorp, Inc.
Crestmark Bancorp Inc. is the holding company for Crestmark Bank, a Michigan state-chartered FDIC-insured commercial bank with regional offices in six states and sales representation nationwide. Headquartered in Troy, Michigan, Crestmark provides working capital loan solutions, line of credit solutions, equipment leasing, equipment financing and financial services to businesses in a wide range of industries. More information is available at crestmark.com.