EXHIBIT 10.11

EMPLOYMENT AGREEMENT

                THIS EMPLOYMENT AGREEMENT (“Agreement”) is made and entered into as of this 24th day of October, 2005, by and between METABANK, 121 E. 5th Street, Storm Lake, Iowa 50588 (hereinafter referred to as the “Bank” whether in mutual
or stock form) and Troy Moore III (the “Employee”), who resides at 14731 Lakeview Drive,
Clive, Iowa 50325.

                WHEREAS, the Employee is currently serving as Executive Vice President and Chief Operating Officer;
and

                WHEREAS, the Bank is a publicly held corporation as the subsidiary of Meta Financial Group, Inc. (the
“Holding Company”) and

                WHEREAS, the Board of Directors of the Bank recognizes that, as is the case with publicly held corporations
generally, the possibility of a change in control of the Holding Company and/or the Bank may exist
and that such possibility, and the uncertainty and questions which it may raise among management,
may result in the departure or distraction of key management personnel to the detriment of the Bank,
the Holding Company and its stockholders; and

                WHEREAS, the Board of Directors of the Bank believes it is in the best interests of the Bank to enter

into this Agreement with the Employee in order to assure continuity of management of the Bank and

to reinforce and encourage the continued attention and dedication of the Employee to his assigned

duties without distraction in the face of potentially disruptive circumstances arising from the
possibility
of a change in control of the Holding Company, although no such change is now contemplated;
and

                WHEREAS, the Board of Directors of the Bank has approved and authorized the execution of this Agreement

with the Employee to take effect as stated in Section 4 hereof;

                NOW, THEREFORE, in consideration of the foregoing and of the respective covenants and agreements of

the parties herein contained, it is AGREED as follows:

                1.  Employment. The Employee will be employed as Executive Vice President and Chief Operating Officer of the Bank.
As Executive Vice President and Chief Operating Officer, Employee shall render administrative and
management services as are customarily performed by persons situated in similar executive capacities,
and shall have other powers and duties as may from time to time be prescribed by the Board, provided
that such duties are consistent with the Employee’s position as Executive Vice President and
Chief Operating Officer. The Employee shall continue to devote his best efforts and substantially
all his business time and attention to the business and affairs of the Bank and its subsidiaries
and affiliated companies.

                2. Compensation.

                        (a) Salary. The Bank agrees to pay the Employee during the term of this Agreement a salary established by the
Board of Directors. The salary hereunder as of the Commencement Date (as defined in Section 4 hereof)
shall be at least equal to the Employee’s salary in effect immediately prior to the Commencement
Date. The salary provided for herein shall be payable not less frequently than biweekly in accordance
with the practices of the Bank, provided, however, that no such salary is required to be paid 









by the terms of this Agreement in respect of any month or portion thereof subsequent to the termination
of this Agreement and provided further, that the amount of such salary shall be reviewed by the Board
of Directors not less often than annually and may be increased (but not decreased) from time to time
in such amounts as the Board of Directors in its discretion may decide, subject to the customary
withholding tax and other employee taxes as required with respect to compensation paid by a corporation
to an employee.

                        (b) Discretionary Bonuses. The Employee shall be entitled to participate in an equitable manner with all other executive officers

of the Bank in discretionary bonuses as authorized and declared by the Board of Directors of the

Bank to its executive employees. No other compensation provided for in this Agreement shall be
deemed
a substitute for the Employee’s right to participate in such bonuses when and as declared
by
the Board of Directors.

                        (c) Expenses. During the term of his employment hereunder, the Employee shall be entitled to receive prompt reimbursement

for all reasonable expenses incurred by him (in accordance with policies and procedures at least

as favorable to the Employee as those presently applicable to the senior executive officers of
the
Bank) in performing services hereunder, provided that the Employee properly accounts therefore
in
accordance with Bank policy.

                3. Benefits.

                        (a) Participation in Retirement and Employee Benefit Plans. The Employee shall be entitled while employed hereunder to participate in, and receive benefits under,

all plans relating to stock options, stock purchases, pension, thrift, profit-sharing, group life

insurance, medical coverage, education, cash or stock bonuses, and other retirement or employee
benefits
or combinations thereof, that are now or hereafter maintained for the benefit of the Bank’s

executive employees or for its employees generally.

                        (b) Fringe Benefits. The Employee shall be eligible while employedhereunder to participate in, and receive benefits under,
any other fringe benefits which are or may become applicable to the Bank’s executive employees
or to its employees generally.

                4. Term.  The term of employment under this Agreement shall be a period of three (3) years commencing
on the date of completion of the Conversion (the “Commencement Date”) subject to earlier
termination as provided herein. Beginning on the first anniversary of the Commencement Date, and
on each anniversary thereafter, the term of employment under this Agreement shall be extended for
a period of one year unless either the Bank or the Employee gives contrary written notice to the
other not less than 90 days in advance of the date on which the term of employment under this Agreement
would otherwise be extended, provided that such term will not be automatically extended unless, prior thereto, such extension is approved

by the Board of Directors following the Board’s review of a formal performance evaluation
of
the Employee performed by the disinterested members of the Board of Directors of the Bank and
reflected
in the minutes of the Board of Directors. Reference herein to the term of employment
under this Agreement
shall refer to both such initial term and such extended terms.

                5.  Vacations. The Employee shall be entitled, without loss of pay, to absent himself voluntarily from the performance

of his employment under this Agreement, all such voluntary absences to count as vacation time,
provided
that:

                        (a) the Employee shall be entitled to an annual vacation of not less than five (5) weeks per year;


                        (b) the timing of vacations shall be scheduled in a reasonable manner by the Employee; and









                        (c) solely at the Employee’s request, the Board of Directors shall be entitled to grant to the
Employee a leave or leaves of absence with or without pay at such time or times and upon such terms
and conditions as the Board, in its discretion, may determine.

                6. Termination of Employment; Death.

                        (a) The Board of Directors may terminate the Employee’s employment at any time, but any termination
by the Bank’s Board of Directors, other than termination for cause, shall not prejudice the
Employee’s right to compensation or other benefits under the Agreement. If the employment of
the Employee is involuntarily terminated, other than for “cause” as provided in this Section
6 (a) or pursuant to any of Sections 6 (d) through 6 (g), or by reason of death or disability as
provided in Sections 6 (c) or 7, the Employee shall be entitled to receive, (i) his then applicable
salary for the then-remaining term of the Agreement as calculated in accordance with Section 4 hereof,
payable in such manner and at such times as such salary would have been payable to the Employee under
Section 2 had he remained in the employ of the Bank, and (ii) health insurance benefits as maintained
by the Bank for the benefit of its senior executive employees or its employees generally over the
then-remaining term of the Agreement as calculated in accordance with Section 4 hereof.

                The terms “termination” or “involuntarily terminated” in this Agreement shall refer
to the termination of the employment of Employee without his express written consent. The Employee
shall be considered to be involuntarily terminated (1) if the employment of the Employee is involuntarily
terminated for any reason other than for “cause” as provided in this Section 6 (a), pursuant to any
of Sections 6 (d) through 6 (g) or by reason of death or disability as provided in Sections 6 (c)
and 7; or (2) there occurs a material diminution of or interference with the Employee’s duties,
responsibilities and benefits as Executive Vice President and Chief Operating Officer of the Bank.
By way of example and not by way of limitation, any of the following actions, if unreasonable or
materially adverse to the Employee, shall constitute such diminution or interference unless consented
to in writing by the Employee: (i) a change in the principal workplace of the Employee to a location
more than fifty (50) miles from the Bank’s main office; (ii) a material demotion of the Employee,
a reduction in the number or seniority of other Bank personnel reporting to the Employee, or a reduction
in the frequency with which, or in the nature of the matters with respect to which, such personnel
are to report to the Employee, other than as part of a Bank or Holding Company-wide reduction in
staff; or (iii) a reduction or adverse change in the salary, perquisites, benefits, contingent benefits
or vacation time which had theretofore been provided to the Employee, other than as part of an overall
program applied uniformly and with equitable effect to all members of the senior management of the Bank or the Holding Company.

                In the case of termination of the Employee’s employment for cause, the Bank shall pay the Employee
his salary through the date of termination, and the Bank shall have no further obligation to the
Employee under this Agreement. The Employee shall have no right to receive compensation or other
benefits for any period after termination for cause. For purposes of this Agreement, termination
for “cause” shall include termination because of the Employee’s personal dishonesty,
incompetence, willful misconduct, breach of a fiduciary duty involving personal profit, intentional
failure to perform stated duties, willful violation of any law, rule, or regulation (other than traffic
violations or similar offenses) or final cease-and-desist order, or material breach of any provision
of this Agreement. Notwithstanding the foregoing, the Employee shall not be deemed to have been terminated
for cause unless and until there shall have been delivered to the Employee a copy of a resolution,
duly adopted by the affirmative vote of not less than a majority of the disinterested members of
the Board of Directors of the Bank at a meeting of the Board called and held for such purpose (after reasonable
notice to the Employee and an opportunity for the Employee, together with the Employee’s counsel,
to be heard before the Board), stating that in the good faith opinion of the Board of Employee was guilty of conduct constituting “cause” as set forth above and specifying the particulars thereof in detail.









                        (b) The Employee’s employment may be voluntarily terminated by the Employee at any time upon 90

days written notice to the Bank or upon such shorter period as may be agreed upon between the Employee

and the Board of Directors of the Bank. In the event of such voluntary termination, the Bank shall

be obligated to continue to pay the Employee his salary only through the date of termination, at

the time such payments are due, and the Bank shall have no further obligation to the Employee under

this Agreement.

                        (c) In the event of the death of the Employee during the term of employment under this agreement and

prior to any termination hereunder, the Employee’s estate, or such person as the Employee
may
have previously designated in writing, shall be entitled to receive from the Bank the salary
of the
Employee through the last day of the calendar month in which his death shall have occurred,
and the
term of employment under this Agreement shall end on such last day of the month.

                        (d) If the Employee is suspended from office and/or temporarily prohibited from participating in the
conduct of the Bank’s affairs by a notice served under Section 8 (e) (3) or (g) (1) of the Federal
Deposit Insurance Act (“FDIA”), 12 U.S.C. § 1818 (e) (3); (g) (1), the Bank’s
obligations under this Agreement shall be suspended as of the date of service, unless stayed by appropriate
proceedings. If the charges in the notice are dismissed, the Bank may in its discretion (i) pay the
Employee all or part of the compensation withheld while its obligations under this Agreement were
suspended and (ii) reinstate in whole or in part any of the obligations which were suspended. 

                        (e) If the Employee is removed from office and/or permanently prohibited from participating in the

conduct of the Bank’s affairs by an order issued under Section (8) (e) (4) or (g) (1) of the

FDIA, 12 U.S.C. § 1818 (e) (4); (g) (1), all obligations of the Bank under this Agreement
shall
terminate, as of the effective date of the order, but vested rights of the parties shall
not be affected.

                        (f) If the Bank becomes in default (as defined in Section 3 (x) (1) of the FDIA, 12 U.S.C. § 1813

(x) (1)), all obligations under this Agreement shall terminate as of the date of default, but this

provision shall not affect any vested rights of the parties.

                        (g) All obligations under this Agreement shall be terminated, except to the extent determined that

continuation of this Agreement is necessary for the continued operation of the Bank: (i) by the
Director
of the Office of Thrift Supervision (“OTS”) or his or her designee at the time
the Federal
Deposit Insurance Corporation or the Resolution Trust Corporation enters into an agreement
to provide
assistance to or on behalf of the Bank under the authority contained in Section 13 (c)
of the FDIA,
12 U.S.C. § 1823 (c); or (ii) by the Director of the OTS or his or her designee
at the time
the Director of the OTS or his or her designee approves a supervisory merger to resolve
problems
related to operation of the Bank or when the Bank is determined by the Director of the
OTS to be
in unsafe or unsound condition. Any rights of the parties that have already vested, however,
shall
not be affected by any such action.

                        (h) In the event the Bank purports to terminate the Employee for cause, but it is determined by a court
of competent jurisdiction or by an arbitrator pursuant to Section 17 that cause did not exist for
such termination, or if in any event it is determined by any such court or arbitrator that the Bank
has failed to make timely payment of any amounts owed to the Employee under this Agreement, the Employee
shall be entitled to reimbursement for all reasonable costs, including attorneys’ fees, incurred
in challenging such termination or collecting such amounts. Such reimbursement shall be in addition
to all rights to which the Employee is otherwise entitled under this Agreement.

                7.  Disability. If during the term of employment hereunder the Employee shall become disabled or incapacitated to
the extent that he is unable to perform the duties of the Executive Vice President and 









Chief Operating Officer, he shall be entitled to receive disability benefits of the type provided for
other executive employees of the Bank.

                8. Change in Control.

                        (a) Involuntary Termination. If the Employee’s employment is involuntarily terminated (other than for cause or pursuant to

any of Sections 6 (c) through 6 (g) or Section 7 of this Agreement) in connection with or within

12 months after a change in control which occurs at any time during the term of employment under

this Agreement, in addition to any payments under Section 6 (a) of the Agreement, the Bank shall

pay to the Employee in a lump sum in cash within 25 business days after the Date of Termination
(as
hereinafter defined) of employment an amount equal to 299% of the Employee’s “base
amount”
of compensation as defined in Section 280G of the Internal Revenue Code of 1986, as
amended (the
“Code”).

                        (b) Definitions. For purposes of Section 8, 9 and 11 of this Agreement, “Date of Termination” means the
earlier of (i) the date upon which the Bank gives notice to the Employee of the termination of his
employment with the Bank, or (ii) the date upon which the Employee ceases to serve as an Employee
of the Bank; and “change in control” is defined solely as any acquisition of control (other
than pursuant to the Conversion or by a trustee or other fiduciary holding securities under an employee
benefit plan of the Holding Company or a subsidiary of the Holding Company), as defined in 12 C.F.R.
§ 574.4, or any successor regulation, of the Bank or Holding Company which would require the
filing of an application for acquisition of control or notice of change in control in a manner as
set forth in 12 C.F.R. § 574.3, or any successor regulation.

                9. Certain Reduction of Payments by the Bank.

                        (a) Anything in this Agreement to the contrary notwithstanding, in the event it shall be determined

that any payment or distribution by the Bank to or for the benefit of the Employee (whether paid

or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise)

(a “Payment”) would be nondeductible (in whole or part) by the Bank for Federal income

tax purposes because of Section 280G of the Code, then the aggregate present value of amounts payable

or distributable to or for the benefit of the Employee pursuant to this Agreement (such amounts
payable
or distributable pursuant to this Agreement are hereinafter referred to as “Agreement
Payments”)
shall be reduced to the Reduced Amount. The “Reduced Amount” shall be
an amount, not less
than zero, expressed in present value which maximizes the aggregate present
value of Agreement Payments
without causing any Payment to be nondeductible by the Bank because
of Section 280G of the Code.
For purposes of this Section 9, present value shall be determined
in accordance with Section 280G
(d) (4) of the Code.

                        (b) All determinations required to be made under this Section 9 shall be made by the Bank’s independent
auditors, or at the election of such auditors by such other firm or individuals of recognized expertise
as such auditors may select (such auditors or, if applicable, such other firm or individual, are
hereinafter referred to as the “Advisory Firm”). The Advisory Firm shall within ten business
days of the Date of Termination, or at such earlier time as is requested by the Bank, provide to
both the Bank and the Employee an opinion (and detailed supporting calculations) that the Bank has
substantial authority to deduct for federal income tax purposes the full amount of the Agreement
Payments and that the Employee has substantial authority not to report on his federal income tax
return any excise tax imposed by Section 4999 of the Code with respect to the Agreement Payments.
Any such determination and opinion by the Advisory Firm shall be binding upon the Bank and the Employee.
The Employee shall determine which and how much, if any, of the Agreement Payments shall be eliminated or reduced consistent with the
requirements of this Section 9, provided that, if the Employee does not make such determination within








ten business days of the receipt of the calculations made by the Advisory Firm, the Bank shall elect
which and how much, if any, of the Agreement Payments shall be eliminated or reduced consistent with
the requirements of this Section 9 and shall notify the Employee promptly of such election. Within
five business days of the earlier of (i) the Bank’s receipt of the Employee’s determination
pursuant to the immediately preceding sentence of this Agreement or (ii) the Bank’s election
in lieu of such determination, the Bank shall pay to or distribute to or for the benefit of the Employee
such amounts as are then due the Employee under this Agreement. The Bank and the Employee shall cooperate
fully with the Advisory Firm, including without limitation providing to the Advisory Firm all information
and materials reasonably requested by it, in connection with the making of the determinations required
under this Section 9.

                        (c) As a result of uncertainty in application of Section 280G of the Code at the time of the initial
determination by the Advisory Firm hereunder, it is possible that Agreement Payments will have been
made by the Bank which should not have been made (“Overpayment”) or that additional Agreement
Payments will not have been made by the Bank which should have been made (“Underpayment”),
in each case, consistent with the calculations required to be made hereunder. In the event that the Advisory
Firm, based upon the assertion by the Internal Revenue Service against the Employee of a deficiency
which the Advisory Firm believes has a high probability of success determines that an Overpayment
has been made, any such Overpayment paid or distributed by the Bank to or for the benefit of Employee
shall be treated for all purposes as a loan ab initio which the Employee shall repay to the Bank together with interest at the applicable federal rate provided

for in Section 7872 (f) (2) of the Code; provided, however, that no such loan shall be deemed to

have been made and no amount shall be payable by the Employee to the Bank if and to the extent
such
deemed loan and payment would not either reduce the amount on which the Employee is subject
to tax
under Section 1 and Section 4999 of the Code or generate a refund of such taxes. In the
event that
the Advisory Firm, based upon controlling preceding or other substantial authority,
determines that
an Underpayment has occurred, any such Underpayment shall be promptly paid by the
Bank to or for
the benefit of the Employee together with interest at the applicable federal rate
provided for in
Section 7872 (f) (2) of the Code.

                        (d) The total of payments to the Employee in the event of involuntary termination of employment under
Section 6(a) and Section 8(a) shall not exceed three times his average annual compensation from the
Bank over the five most recent taxable years (or, if employed by the Bank for a shorter period, over
the period of his employment by the Bank).

                        (e) Any payments made to the Employee pursuant to this Agreement, or otherwise, are subject to and

conditioned upon their compliance with 12 U.S.C. 1828(k) and any regulations promulgated thereunder.

                10. Non-competition

                        (a) Upon the expiration of the term of the Employee’s employment hereunder or in the event the
Employee’s employment hereunder terminates prior thereto for any reason whatsoever, the Employee
shall not, for a period of one (1) year after the occurrence of such event, for himself, or as the
agent of, on behalf of, or in conjunction with, any person or entity, solicit or attempt to solicit,
whether directly or indirectly: (i) any employee of the Bank to terminate such employee’s employment
relationship with the Bank; or (ii) any savings and loan, banking or similar business from any person
or entity that is or was a client, employee, or customer of the Bank and had dealt with the Employee
or any other employee of the Bank under the supervision of the Employee.

                        (b) In the event Employee voluntarily resigns pursuant to section 6 (b) of this Agreement, or in the
event the Employee’s employment hereunder is terminated for cause, the Employee shall not, for
a 









period of one (1) year from the date of termination, directly or indirectly, own, manage, operate or
control, or participate in the ownership, management, operation or control of, or be employed by
or connected in any manner with, any financial institution having an office located within fifty
(50) miles of any office of the Bank as of the date of termination.

                        (c) The provisions of subsections (a) and (b) hereof shall not prevent the Employee from purchasing,
solely for investment, not more than five percent (5%) of any financial institution’s stock
or other securities which are traded on any national or regional securities exchange or are actively
traded in the over-the-counter market and registered under Section 12 (g) of the Securities Exchange
Act of 1934.

                        (d) The provisions of this Section shall survive the termination of the Employee’s employment
hereunder whether by expiration of the term thereof or otherwise.

                11. No Assignments.

                        (a) This Agreement is personal to each of the parties hereto, and neither party may assign or delegate
any of its rights or obligations hereunder without first obtaining the written consent of the other
party; provided, however, that the Bank will require any successor or assign (whether direct or indirect,
by purchase, merger, consolidation or otherwise) to all or substantially all of the business and/or
assets of the Bank, by an assumption agreement in form and substance satisfactory to the Employee,
to expressly assume and agree to perform this Agreement in the same manner and to the same extent
that the Bank would be required to perform it if no such succession or assignment had taken place.
Failure of the Bank to obtain such an assumption agreement prior to the effectiveness of any such
succession or assignment shall be a breach of this Agreement and shall entitle the Employee to compensation
from the Bank in the same amount and on the same terms as the compensation pursuant to Section 8(a)
hereof. For purposes of implementing the provisions of this Section 11 (a), the date on which any
such succession becomes effective shall be deemed the Date of Termination.

                        (b) This Agreement and all rights of the Employee hereunder shall inure to the benefit of and be enforceable
by the Employee’s personal and legal representatives, executors, administrators, successors,
heirs, distributees, devisees and legatees. If the Employee should die while any amounts would still
be payable to the Employee hereunder if the Employee had continued to live, all such amounts, unless
otherwise provided herein, shall be paid in accordance with the terms of this Agreement to the Employee’s
devisee, legatee or other designee or if there is no such designee, to the Employee’s estate.

                12.  Notice. For the purposes of this Agreement, notices and all other communications provided for in the Agreement

shall be in writing and shall be deemed to have been duly given when personally delivered or sent

by certified mail, return receipt requested, postage prepaid, addressed to the respective addresses

set forth on the first page of this Agreement (provided that all notices to the Bank shall be directed

to the attention of the Board of Directors of the Bank with a copy to the Secretary of the Bank),

or to such other address as either party may have furnished to the other in writing in accordance

herewith.

                13.  Amendments. No amendments or additions to this Agreement shall be binding unless in writing and signed by both

parties, except as herein otherwise provided.

                14.  Paragraph Headings. The paragraph headings used in this Agreement are included solely for convenience and shall not affect,

or be used in connection with, the interpretation of this Agreement.









                15.  Severability. The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability

of any provision shall not affect the validity or enforceability of the other provisions hereof.

                16.  Governing Law. This Agreement shall be governed by the laws of the United States to the extent applicable and otherwise
by the laws of the State of Iowa.

                17.  Arbitration. Any dispute or controversy arising under or in connection with this Agreement shall be settled exclusively

by arbitration in accordance with the rules of the American Arbitration Association then in effect.

Judgment may be entered on the arbitrator’s award in any court having jurisdiction.

                IN WITNESS WHEREOF, the parties have executed this Agreement as of the day and year first above written.

THIS AGREEMENT CONTAINS A BINDING ARBITRATION PROVISION

WHICH MAY BE ENFORCED BY THE PARTIES.

	 	 
	 	 	METABANK 
	 	 	 	  
	 	 	By: /s/ E. Wayne Cooley
	 	 	 	————————————————
	 	 	E. Wayne Cooley
	 	 	Chairman, Compensation Committee
	 	 	 	 
	 	 	 	 
	 	 	 EMPLOYEE
	 	 	 	  
	 	 	/s/ Troy Moore III
	 	 	————————————————
	 	 	Troy Moore III