Pathward Q3 net income $29M ($1.37 EPS) down 31% YoY; nonperforming assets surge to $277.5M

PATHWARD FINANCIAL, INC.

Net income of $29.0M ($1.37 diluted EPS) vs $42.1M ($1.81) in Q3 FY2025.
Nonperforming assets rose to $277.5M (3.79% of assets) from $119.8M (1.68%) at March 31, 2026.
Provision for credit losses increased to $28.3M from $9.3M YoY, driven by commercial finance specific reserves on two loans.
Net charge-offs of $16.0M, with $15.9M from commercial finance; net charge-offs were $6.1M in prior year.
Tax services product income net of losses and expenses up 29% to $77.1M for nine months; total tax services revenue $107.7M (+13%).

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