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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                                -----------------

                                    FORM 8-K


                                 CURRENT REPORT


                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

         Date of report (Date of earliest event reported): June 20, 2005


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                           Meta Financial Group, Inc.
             (Exact name of registrant as specified in its charter)


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         Delaware                        0-22140                42-1406262
(State or other jurisdiction of     (Commission File         (IRS Employer
incorporation or organization)           Number)             Identification No.)

                   121 East Fifth Street, Storm Lake, IA 50588
               (Address of principal executive offices)(Zip Code)

Registrant's telephone number, including area code: (712) 732-4117

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously satisfy the filing obligations of the registrant under any of the
following provisions:

[_]   Written  communications  pursuant to Rule 425 under the Securities Act (17
      CFR 230.425)

[_]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)

[_]   Pre-commencement  communications  pursuant  to  Rule  14d-2(b)  under  the
      Exchange Act (17 CFR 240.14d- 2(b))

[_]   Pre-commencement  communications  pursuant  to  Rule  13e-4(c)  under  the
      Exchange Act (17 CFR 240.13e-4 (c))

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                                TABLE OF CONTENTS

Section 2 - Financial Information

Item 2.06 Material Impairments

Signatures


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Section 2 - Financial Information

Item 2.06   Material Impairments

            (a)  The  Registrant  and  its  principal  operating   subsidiaries,
            MetaBank and MetaBank West Central,  (collectively  the "Bank"),  on
            June 20, 2005,  determined that a material amount of its assets were
            impaired under generally accepted accounting principles.  The assets
            affected  include total operating loans secured by new and used cars
            and contracts receivable of approximately $6.8 million from the Bank
            to two companies  that are affiliated  with each other,  which filed
            for  reorganization  under  Chapter 11 of the U.S.  Bankruptcy  Code
            during the evening of June 20,  2005.  The Bank also has real estate
            loans totaling  approximately  $2.0 million to a borrower related to
            the companies,  and a home loan of approximately $1.0 million to the
            majority  owner of such  companies.  Neither of the borrowers of the
            latter two loans has filed for bankruptcy.

            (b) and (c) At this time,  the  Registrant is unable to estimate the
            amount or range of  amounts  of the  impairment  charge  and is also
            unable to estimate the amount or range of amounts of the  impairment
            charge that will result in future cash expenditures.  The Registrant
            will file an amended  report on Form 8-K  pursuant to this Item 2.06
            within four  business  days after it makes a  determination  of such
            estimates or range of estimates.







                                    SIGNATURE

      Pursuant to the  requirements of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.



                               META FINANCIAL GROUP, INC.

                               By:  /s/ Ronald J. Walters
                                    ---------------------
                                    Ronald J. Walters
                                    Senior Vice President, Secretary, Treasurer
                                    and Chief Financial Officer

Dated:  June 24, 2005