MetaBank appeals NASDAQ delistment

Thursday, March 6, 2008

Meta Financial Group, based in Storm Lake, will be attending a hearing by the NASDAQ market to delist the company's common stock. After the company failed to list their quarterly results on time they are now preparing for the procedural hearing that is held when companies fail to report earnings on time.

Tyler Haahr, President and CEO of Meta Bank and Meta Financial said, " There is no reason for our customers to worry about delistment. Many companies and business have gone months and years without being delisted" on the global market, he said.

Haahr explained that the independent accounting firm that Meta Bank hired, McGladry and Pullen, is owned by H&R Block. When H&R Block became a client of the bank, it was decided that McGladry and Pullen were no longer an independent firm for purposes of examining Meta's finances. In the time that Meta Financial became aware of H&R Block's decision to end the signed agreement that was held, they have been seeking out a new company for this service.

Haahr noted," Meta Financial has never missed a filing before. We have always reported our quarterly and end of the year earning on time. Right now we are in the process of hiring a new company and trying to move as quickly as possible to correct the problem."