Meta Financial Group, Inc. announced consolidated earnings results for the first quarter ended December 31, 2015. For the quarter, the company's net interest income was $17,555,000 compared to $13,571,000 a year ago. Interest income was $18,275,000 compared to $14,232,000 a year ago.

Net interest income after provision for loan losses was $16,769,000 compared to $13,523,000 a year ago. Income before income tax expense was $4,058,000 compared to $3,784,000 a year ago. Net income was $4,058,000 or $0.49 per basic and diluted share compared to $3,595,000 or $0.58 per basic and diluted share a year ago.

Return on average assets was 0.60% compared to 0.68% a year ago. Return on average equity was 5.91% compared to 8.04% a year ago. Book value per common share outstanding was $34.10 compared to $33.24 a quarter ago.

Tangible book value per common share outstanding was $25.93 compared to $24.60 a quarter ago. Net interest income was up $4.0 million, or 29%, from the same quarter last year, primarily due to growth in loan volume.  Additionally, the overall increase was driven by higher volumes and yields attained from other investments, primarily high credit quality tax-exempt municipal bonds.  The increase in net income was primarily due to increases of $4.1 million in non-interest income and $4.0 million in net interest income, offset by an increase of $7.6 million in non-interest expense.  Due to the cyclical nature of Refund Advantage's business, with substantially all income being realized in the company's fiscal second quarter, expenses tend to outpace income in the remaining three quarters.