3Q14 Investor UpdateJuly 2014 NASDAQ: CASH

Forward Looking Statements Corporate Profile: Meta Financial Group, Inc.®, (“Meta Financial” or the “Company”) and its wholly-owned subsidiary, MetaBank™ (the “Bank” or “MetaBank”), may from time to time make written or oral “forward-looking statements,” including statements contained in its filings with the Securities and Exchange Commission (“SEC”), in its reports to stockholders, 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.You can identify forward-looking statements by words such as “may,” “hope,” “will,” “should,” “expect,” “plan,” “anticipate,” “intend,” “believe,” “estimate,” “predict,” “potential,” “continue,” “could,” “future” or the negative of those terms or other words of similar meaning. You should read statements that contain these words carefully because they discuss our future expectations or state other “forward-looking” information. 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, among others, the following subjects: future operating results; customer retention; loan and other product demand; important components of the Company’s balance sheet and income statements; growth and expansion; new products and services, such as those offered by the Bank or Meta Payment Systems® (“MPS”), a division of the Bank; credit quality and adequacy of reserves; technology; and the Company’s 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 Board of Governors of the Federal Reserve System (the “Federal Reserve”), as well as efforts of the United States Treasury in conjunction with bank regulatory agencies to stimulate the economy and protect the financial system; inflation, interest rate, market, and monetary fluctuations; the timely development of and acceptance of new products and services offered by the Company as well as risks (including reputational and litigation) attendant thereto and the perceived overall value of these products and services by users; the risks of dealing with or utilizing third parties; the scope of restrictions and compliance requirements imposed by the supervisory directives and/or the Consent Orders entered into by the Company and the Bank with the Office of Thrift Supervision (the functions of which were transferred to the Office of the Comptroller of the Currency (“OCC”) and the Federal Reserve) and any other such regulatory actions which may be initiated; the impact of changes in financial services’ laws and regulations, including but not limited to our relationship with our regulators, the OCC and the Federal Reserve; technological changes, including, but not limited to, the protection of electronic files or databases; acquisitions; litigation risk in general, including, but not limited to, those risks involving the MPS division; the growth of the Company’s business, as well as expenses related thereto; changes in consumer spending and saving habits; and the success of the Company at managing and collecting assets of borrowers in default.The foregoing list of factors is not exclusive. Additional discussions of factors affecting the Company’s business and prospects are contained in the Company’s periodic filings with the SEC. The Company 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 or its subsidiaries.Other important information about the Company is available at http://www.metafinancialgroup.com *

Meta Management * J. Tyler Haahr Chairman and Chief Executive Officer, Meta Financial GroupTyler Haahr has been with Meta Financial Group since March 1997. Previously he was a partner with the law firm of Lewis and Roca LLP, Phoenix, Arizona. Tyler received his B.S. degree with honors at the University of South Dakota in Vermillion, SD. He graduated with honors from the Georgetown University Law Center, Washington, D.C. Brad C. Hanson President, Meta Financial Group and MetaBankBrad Hanson founded Meta Payment Systems in May 2004. He has more than 20 years of experience in financial services, including numerous banking, card industry and technology-related capacities. During his career Brad has played a significant role in the development of the prepaid card industry. Brad graduated from the University of South Dakota in Vermillion, SD with a degree in Economics. Glen W. HerrickChief Financial Officer, Meta Financial Group and MetaBank Glen Herrick was appointed EVP & Chief Financial Officer in October 2013 after joining Meta in March 2013. Previously, he served in various finance and risk management roles at Wells Fargo, including as CFO of Wells Fargo’s student loan division. Glen received his B.S. degree in Engineering Management from the United States Military Academy in West Point, N.Y. and MBA from the University of South Dakota. He also graduated from the Stonier Graduate School of Banking.

Who we are … Loans *Strong Economy and Local Markets $1,278 MNetSpendMoney NetworkBlackhawkSeveral Dozen Others * $460 MIowaSouth Dakota MetaBank Retail Bank Meta Payment Systems Meta Financial Group Deposits **Business Partners * Quarter End – Net ALL ** Quarter Average *** For Quarter Ended June 30, 2014

Who we are … Retail BankGrowing community bankStrong local economy11 branch locations in Iowa and South Dakota42% year-over-year loan growth*Meta Payment Systems (MPS)Dynamic payment systems divisionA top prepaid card issuer in USStrong deposit growth Nationally focused * *Quarter End Net of ALL

Recognition Meta Financial Group: (NASDAQ: CASH)#68 in American Banker Magazine “Top 200 Community Banks and Thrifts” (June 2014) Top 1% based on 3 year ROETop 100 in ABA Banking Journal’s annual Performance Ranking for $1B-$10B banks (2014)2nd largest PPD card issuer in the U.S. ranked by purchase volume – The Nilson Report (2014)Top 40 of ACH originators for the year 2013 (NACHA 2014)Top 30 of ACH receivers for the year 2013 (NACHA 2014)Added to Russell 2000 Index in June 2013#7 ranked U.S. bank for fee income per Bank Director magazine’s 4th Quarter 2013 edition Added to NASDAQ’s ABA Community Bank Index (ABQI) in December 2013 *

Strategic Goals Grow MPS DivisionScalable operating infrastructureLeverage low/no cost fundsDiverse product set: reloadable, payroll, gift, incentive, virtual, travelMPS “financial inclusion” programs for unbanked, underbankedExercise “Early Adopter” advantage in regulatory complianceMaintain strong credit and investment qualityEmphasize asset diversification, yield enhancement and strong, high quality loan growthDevelop new product initiatives – payments, deposits and credit *

Compliance and Oversight Systems Early adopter of sophisticated compliance systemsInvestments in program design, training and technologyImplemented enhanced BSA/AML technologyEnhanced infrastructure to support growth with moderating expensesShifting focus to business development opportunitiesHigh competitive barriers to entryExpertise, Capital, ComplianceOperational infrastructureHigh start-up costsSubstantial progress with OCC *

Growing our business Capitalizing on synergies: community banking, MPSMPS provides MFG over $1.27 billion in no-cost funds High growth industry segmentExpect material benefits as interest rates riseLeveraging MPS leadership in prepaid card segmentHigh growth industry with Meta having large market shareMeta sponsors ~65% of U.S. “white label” ATMsEmergent leader in “virtual cards” for electronic settlements38 patents with over a dozen pending *

Deposits and Cost of Funds * Avg. Deposits-$millions Cost of Funds

Retail Bank Successful regional enterprise60 years in business 11 locations in Iowa and S. DakotaGrowing, profitable operationsStrong, loyal customer baseDiverse customer base Attractive combination of retail, commercial and agriculturalLoan growth of 42% over the last year*Expect loan growth to be robust in the next yearVery strong credit quality * *Quarter End Net of ALL

* Where MetaBank is located BrookingsSioux FallsStorm LakeDes Moines

Financial Highlights Net Income$12.35 million in fiscal 2014 YTD, +24% over prior year same periodStrong earnings profileAnnualized ROAA of 0.86% and annualized ROAE of 10.8% Very Strong asset qualityNPAs markedly lower than peer group at 0.04% of total assetsIncreased market capitalization over prior yearPrudent Capital management with flexibility *

Interest Rate Risk Management Positively leveraged for higher rate environmentOCI volatile relative to peers; GAAP does not capture balance sheet true valueMeta mark includes ~75% of assets vs. typical “peer” at 20%Unrecognized value of low or zero cost depositsExpect securities portfolio yield and Net Interest Margin (NIM) to continue to increase given current interest rate environmentAdditional reinvestment opportunity in up environment$9MM to $11MM per month run-offNew deposits generated by MPS deployed at higher ratesNIM up 10 bps over the prior quarter and 36 bps in the last 9 mos with further expansion expected based on the current interest rate environment *

Capital Management Successfully raised $61.0 million in new capital in 2012-13 via private placements and an ATM offeringMaintain strong capital ratiosCommon Equity Tier 1 capital at least 8%Risk-Based over 20%Support growth and acquisition opportunitiesIncrease in share price gives additional acquisition capabilities *

Earnings power while Growing equity * Fiscal year end of September 30

Balance Sheet ($000s) * Sep10 Sep11 Sep12 Sep13 June13 * June14* Cash And Cash Equivalents 94,248 132,149 106,067 73,733 62,211 75,120 Investments and MBS 511,011 615,320 998,826 1,176,811 1,248,482 1,319,198 Loans Receivable Net 369,563 314,484 329,689 364,100 335,936 450,628 Other Assets 64,037 64,825 61,412 98,760 86,578 143,662 Assets 1,038,859 1,126,778 1,495,994 1,713,404 1,733,207 1,988,608 Liabilities 968,144 1,047,699 1,387,222 1,577,589 1,586,207 1,827,474 Shareholders' Equity 70,715 79,079 108,772 135,815 147,000 161,134 Liabilities and Equity 1,038,859 1,126,778 1,495,994 1,713,404 1,733,207 1,988,608 *Quarter Average Fiscal Year End of September 30

Income Statement ($000s) * Meta Financial Group 2010 2011 *2012 2013 **2013 Q3 **2014 Q3 Net Interest Income After Provision 17,299 34,034 32,685 36,022 27,161 33,359 Total Non Interest Income 97,444 57,491 69,574 55,503 ***42,064 39,131 Compensation and Benefits 32,529 30,467 31,104 34,106 25,917 28,288 Card Processing Expense 38,242 23,286 17,373 15,584 12,143 11,668 All Other Expense 24,159 29,509 26,986 24,713 18,627 17,685 Net Income (Loss) Before Taxes 19,813 8,263 26,796 17,122 12,538 14,849 Income Tax Expense (Benefit) 7,420 3,623 9,682 3,704 2,594 2,500 Net Income (Loss) 12,393 4,640 17,114 13,418 9,944 12,349 * Includes $11.4M Gain-on-Sale of GNMA Securities ** Amounts are YTD*** Includes $2.4M Gain-on-Sale of SecuritiesFiscal Year End of September 30

Total Assets * *Quarter Average Fiscal Year End of September 30 19.2% CAGR $millions

Total Net Loans * *Quarter AverageFiscal Year End of September 30 $millions

Non-Performing Assets * Fiscal Year End September 30 $millions of non-performing assets % of total assets

Total Revenue * * Includes $11.4M Gain-on-Sale of GNMA Securities**Includes $2.4M Gain-on-Sale of Securities $millions Fiscal Year End September 30

Meta Value Proposition Leading issuer of prepaid debit cardsSpringboard into other products and servicesStrong capital positionCapacity to fund our growth objectives Stable, low cost funding advantageSteady dividend policy Potential for upward trend in earningsNormalized interest rates Asset diversification~85% of deposits are low or no-cost *

* NASDAQ: CASH