Sioux Falls MetaBank Gets A Whopping $60 Million From Facebook
Facebook Zar Mark Zuckerburg announce recently that he was going to change the name of Facebook to Meta.
The social media platform would be part of Zuckerburg's proposed “Metaverse”. Meta Platforms Inc. is “a multinational technology conglomerate based in Menlo Park, California.
Meta Platforms Inc. is the parent organization of Facebook, Instagram, and WhatsApp, among other subsidiaries.
It came to light this week that the Facebook folks are serious about owning the rights to all things Meta.
Meta Platforms Inc. has apparently struck a deal with Meta Financial Group, headquartered in Sioux Falls, to buy the trademarked name and assets of Meta Financial Group for a tidy $60 million dollars.
Meta Financial Group officially become part of Iowa-based Central Bank in 2020. The Sioux Falls Metabank locations now display the Central Bank signage.
Central Bank, formerly MetaBank, has locations in Sioux Falls, Brookings, and Storm Lake, Iowa.
According to Metabank.com they were founded in 1954, Meta has grown to operate in several different financial sectors: payments, commercial finance, tax services, and consumer lending.
Meta has a national presence and close to 1,000 employees, with corporate headquarters in Sioux Falls, S.D. We are helping to shape the evolving financial services landscape by directly investing in innovation and complementary businesses that strategically expand its suite of services.
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