This sale is anticipated to close on or before March 30, 2008, subject to regulatory approval. The transaction will involve the sale of the stock of MetaBank West Central for approximately $8.3 million, which is dependent on the satisfaction of routine contractual terms by the date of sale.
After the transaction is completed, Meta Financial will operate 13 bank branches through its MetaBank subsidiary and will deregister as a bank holding company and will become solely a unitary savings and loan holding company as a result of its ownership of one savings association, MetaBank.
Tyler Haahr, president and CEO of Meta Financial, commented: The sale of MetaBank West Central is a great transaction for all involved. It allows both buyer and seller opportunities to expand and focus strategic business efforts.
