Pathward net income falls 31.3% to $29.0M as credit costs triple and nonperforming loans surge

Filed August 6, 2026 · Period ending June 30, 2026 · Compared to 10-Q Sep 16, 2025 · ~2 min read

Key Changes

• high

  Net income fell 31.3% to $29.0M, or $1.37 diluted EPS, from $42.1M and $1.81 a year ago, driven by a $28.3M provision for credit losses versus $9.3M.

  MD&A: Results verify on EDGAR →
• high

  Nonperforming loans and leases jumped to $275.1M, or 5.28% of gross loans, from $99.1M (2.05%) at September 30, 2025, concentrated in renewable energy construction projects with a common developer.

  MD&A: Credit Quality verify on EDGAR →
• high

  Allowance for credit losses more than doubled to $109.8M from $53.3M at September 30, 2025, with specific reserves on two commercial finance loans and a higher CECL reserve.

  MD&A: Allowance verify on EDGAR →