Meta Financial Group, Inc.(R) Completes Sale of West Central Iowa Bank Subsidiary

Meta Financial Group, Inc.(R) Completes Sale of West Central Iowa Bank
Subsidiary

STORM LAKE, Iowa, March 31 /PRNewswire-FirstCall/ -- Meta Financial Group,
Inc. (Nasdaq: CASH), is pleased to report it completed the previously
announced sale of its MetaBank West Central subsidiary to Anita Bancorporation
(Iowa), which included all three MetaBank West Central locations in Stuart,
Casey, and Menlo. Meta Financial Group (MFG) received approximately $8.3
million in cash.
MFG President and CEO J. Tyler Haahr 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."
MFG now operates 13 bank branches through its MetaBank subsidiary which
are located in: Brookings (1) and Sioux Falls (4), South Dakota; and Storm
Lake (2) and Des Moines (6), Iowa. At September 30, 2007, MFG had assets of
$686.1 million and shareholders' equity of $48.1 million. The company's stock
is traded on the Nasdaq Global Select Market under the symbol "CASH."
Corporate Profile: Meta Financial Group, Inc. (doing business as Meta
Financial Group) is the holding company for MetaBank and Meta Trust
Company(R). MetaBank is a federally-chartered savings bank with four market
areas: Northwest Iowa Market, Brookings Market, Central Iowa Market, Sioux
Empire Market; and the Meta Payment Systems prepaid debit card division.
Thirteen banking offices support customers throughout northwest and central
Iowa, and in Brookings and Sioux Falls, South Dakota.
The Company and its wholly-owned subsidiaries, MetaBank and Meta Trust
Company, may from time to time make written or oral "forward-looking
statements," including statements contained in this release and in its filings
with the Securities and Exchange Commission, in its reports to shareholders,
and in other communications by the Company, which are made in good faith by
the Company pursuant to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995.
These forward-looking statements include statements with respect to the
Company's beliefs, expectations, estimates and intentions that are subject to
significant risks and uncertainties, and are subject to change based on
various factors, some of which are beyond the Company's control. Such
statements address the following subjects: future operating results; customer
growth and retention; loan and other product demand; earnings growth and
expectations; new products and services, such as those offered by the Meta
Payment Systems division; credit quality and adequacy of reserves; technology;
and our employees. The following factors, among others, could cause the
Company's financial performance to differ materially from the expectations,
estimates, and intentions expressed in such forward-looking statements: the
strength of the United States economy in general and the strength of the local
economies in which the Company conducts operations; the effects of, and
changes in, trade, monetary, and fiscal policies and laws, including interest
rate policies of the Federal Reserve Board; inflation, interest rate, market
and monetary fluctuations; the timely development of and acceptance of new
products and services of the Company and the perceived overall value of these
products and services by users; the impact of changes in financial services
laws and regulations; technological changes; acquisitions; litigation; changes
in consumer spending and savings habits; the success of the Company at
managing and collecting assets of borrowers in default and managing risks
involved in its litigation; and the results of the Company's investigation
into an alleged defalcation by a former employee and other matters.
The foregoing list of factors is not exclusive. Additional discussion of
factors affecting the Company's business and prospects is contained in the
Company's periodic filings with the SEC. The Company does not undertake, and
expressly disclaims any intent or obligation to update any forward-looking
statement, whether written or oral, that may be made from time to time by or
on behalf of the Company.
SOURCE Meta Financial Group, Inc.

Investor Relations for Meta Financial Group, Inc., +1-712-732-4117