The Bank Slate

INSIGHTS INTO THE BANKING INDUSTRY

Pathward offset hit from securities sale with gain from divested business

Pathward Financial in Sioux Falls, S.D., made the most of selling a business by shedding underperforming securities during the last quarter of 2024.

The $7.6 billion-asset company said in a press release that it sold $160.6 million of debt securities in late November at a $15.7 million pretax loss.

A month earlier, the company sold substantially all of the assets and liabilities of its commercial insurance premium finance business for a $16.4 million pretax gain.

Overall, Pathward’s quarterly earnings rose by 13% from a year earlier, to $31.4 million.

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