{
  "docId": "019de070-7779-7345-826c-47284ce4eff0",
  "docSlug": "def5240aecee4159006fae0f466970c0",
  "documentTitle": "Pathward Financial | Results Presentation Deck | 26 slides",
  "authorId": "pathward-financial",
  "authorName": "Meta Financial Group",
  "documentKindSlug": "conference-presentation",
  "documentKindLabel": "Conference presentation",
  "sourceTypeSlug": "investor_relations",
  "sourceTypeLabel": "Investor relations",
  "presentationDate": "2020-11-01 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 23,
  "pageCount": 26,
  "prevPage": 22,
  "nextPage": 24,
  "slideType": "sop_buildup",
  "function": "present_framework",
  "density": "overcrowded",
  "nDataPoints": 7,
  "notes": "The diagram illustrates a waterfall payment structure for a structured finance facility.",
  "elementsJson": null,
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019de070-7779-7345-826c-47284ce4eff0/23",
  "deckHref": "/decks/019de070-7779-7345-826c-47284ce4eff0",
  "deckJsonHref": "/decks/019de070-7779-7345-826c-47284ce4eff0.json",
  "deckAnchorHref": "/decks/019de070-7779-7345-826c-47284ce4eff0#slide-23",
  "components": [
    {
      "bbox": {
        "h": 0.25,
        "w": 0.45,
        "x": 0.02,
        "y": 0.62
      },
      "kind": "callout",
      "text": "EXAMPLE: In the example $100M scenario, all cash flows of the outstanding facility are used to pay the First Out Tranche’s (i.e. - Meta’s) outstanding principal and interest. The First Out’s position must be paid down in full prior to the junior and equity tranches receiving any cash flow.",
      "attrs": null,
      "subkind": "primary",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "15bcb7de-2222-4168-a084-412ac8af39ff",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.75,
        "w": 0.25,
        "x": 0.61,
        "y": 0.12
      },
      "kind": "diagram",
      "text": "Waterfall payment flow diagram showing All Loan/Collateral Cash Flows -> Admin Fees -> First-Out Tranche -> Junior Tranche -> Equity Tranche",
      "attrs": null,
      "subkind": "process",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c7b9f459-2e98-49ad-b63a-cb86cbdd0243",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.25,
        "x": 0.02,
        "y": 0.13
      },
      "kind": "metric",
      "text": "Total Exposure $293.4 million",
      "attrs": null,
      "subkind": "big-number",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "370f70a8-0b2a-4821-8ff7-9b7d5962fb96",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.12,
        "x": 0.35,
        "y": 0.13
      },
      "kind": "metric",
      "text": "% of Total 8.3%",
      "attrs": null,
      "subkind": "big-number",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3d39db39-6081-4c16-9ad4-c45d491d6f63",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.2,
        "w": 0.45,
        "x": 0.02,
        "y": 0.35
      },
      "kind": "paragraph",
      "text": "Agreements trigger waterfall protection for the “First Out” participant: The waterfall could be “triggered” due to items such as: collateral underperformance, collateral days past due, covenant breaches, concentration limit breaches, missed payments, regulatory events, material adverse effects, etc.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0c2c0445-3e44-40c9-9ee7-d442bfa6e60a",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.45,
        "x": 0.02,
        "y": 0.18
      },
      "kind": "paragraph",
      "text": "Asset-backed warehouse lines of credit used to support strategic initiatives. Lines are primarily secured by consumer receivables, whereby Meta is in a senior, secured position as the first out participant. Have never had a charge off or loss.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0eef86f8-b546-490f-82b0-73e096fe00ac",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.6,
        "x": 0.02,
        "y": 0.94
      },
      "kind": "source-note",
      "text": "1 Total includes total gross loans & leases of $3.52 billion and rental equipment, net of $206.0M, as of September 30, 2020",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "49d4c172-b9d1-4327-8397-986f755e6238",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.04,
        "w": 0.35,
        "x": 0.02,
        "y": 0.06
      },
      "kind": "title",
      "text": "WAREHOUSE FINANCE",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "ddf2e043-ff60-4040-94ea-2a643b77776f",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Waterfall chart",
      "slug": "waterfall-chart",
      "agent": null,
      "layer": "slide",
      "matchId": "9edb1307-7f27-40e3-8a3d-624e85d65f06",
      "evidence": "The slide contains a 'Waterfall payment flow diagram' showing a waterfall structure.",
      "confidence": 0.9
    }
  ],
  "frameworks": [
    {
      "name": "waterfall-payment-structure",
      "slug": null,
      "matchId": "b345cc38-3c1c-4b28-ad89-fe01773a4ae5",
      "evidence": "The diagram depicts a hierarchical payment priority for tranches in a structured finance facility.",
      "confidence": 0.9
    }
  ],
  "arcBeats": [
    {
      "to": 26,
      "from": 20,
      "beatId": "e6802564-584a-4d50-9232-868c7cdf3ed4",
      "arcName": "The Sequoia Pitch",
      "arcSlug": "sequoia-pitch",
      "beatName": "Financials",
      "beatSlug": "sequoia-pitch-financials",
      "evidence": "The presentation provides financial highlights and reconciliations.",
      "position": 4,
      "confidence": 0.7,
      "parentBeatName": "Evidence",
      "parentBeatSlug": "evidence"
    }
  ],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}