Item 2. Properties
Item 2. Properties.
The Company's home office is located at 5501 South Broadband Lane in Sioux Falls, South Dakota. The Company has eight non-branch offices from which its BaaS and Commercial Finance business lines operate. The BaaS business line operates out of the Company's home office along with additional offices in Louisville, Kentucky and Easton, Pennsylvania. The Commercial Finance business line operates out of offices in Troy, Michigan; Franklin, Tennessee; and Toronto, Ontario, Canada. The Company has corporate and shared services offices located in Scottsdale, AZ and Washington, D.C.
Of the Company's eight properties, the Company leases seven of them, all on market terms. See Note 6 to the “Notes to Consolidated Financial Statements” which is included in Part II, Item 8 “Financial Statements and Supplementary Data” of this Annual Report on Form 10-K.
Management believes current facilities are adequate to meet its present needs, though it is continuing to assess those property needs as Pathward Financial is a Talent Anywhere remote working environment.
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