MetaBank plans to acquire Fort Knox Financial Services Corp. and its subsidiary, Tax Product Services LLC, in a $50 million deal that could close this quarter, according to a release. About half of the acquisition would be paid in cash and half in the common stock of MetaBank’s parent, Meta Financial Group Inc. of Sioux Falls, S.D.

The proposed purchase has received board approvals from all parties. Fort Knox, through its Refund Advantage brand, provides professional tax refund-transfer software. MetaBank has branches in Des Moines, Urbandale and West Des Moines. Fort Knox is based in Louisville, Ky., and will maintain its office there. Read more