Meta Financial discloses total rebranding costs

Meta Financial in Sioux Falls, S.D., stands to profit from selling it name to a group affiliated with Facebook. 

The $6.9 billion-asset company said in a press release Thursday that it expects rebranding expenses to total $15 million to $20 million – far less than the $60 million it will receive for changing its name. 

Meta, which plans to rebrand as Pathward Financial, incurred $2.8 million in expenses during the first quarter tied to changing its name. 

Meta received $50 million from the Facebook affiliate when it agreed to sell its name; the remaining money will be released after the phase-out is complete. The rebrand should be complete by the end of this year.