Company: GDOT
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001386278-25-000064
Chunk: 144

Company: GREEN DOT CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 144
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 carrying value, gross of the related allowance for credit losses, of our nonperforming loans. See Note 2 — Summary of Significant Accounting Policies to the Consolidated Financial Statements of our Annual Report on Form 10-K for the year ended December 31, 2024 for further information on the criteria for classification as nonperforming.June 30, 2025December 31, 2024(In thousands)Residential$25 $34 Secured credit card1,709 2,536 Total loans$1,734 $2,570 Credit Quality IndicatorsWe closely monitor and assess the credit quality and credit risk of our loan portfolio on an ongoing basis. We continuously review and update loan risk classifications. We evaluate our loans using non-classified or classified as the primary credit quality indicator. Classified loans include those designated as substandard, doubtful, or loss, consistent with regulatory guidelines. Secured credit card loans are considered classified if they are greater than 90 days past due. However, our secured credit card portfolio is collateralized by cash deposits made by each accountholder in an amount equal to the user's available credit limit, which mitigates the risk of any significant credit losses we expect to incur.The table below presents the carrying value, gross of the related allowance for credit losses, of our loans within the primary credit quality indicators related to our loan portfolio:June 30, 2025December 31, 2024Non-ClassifiedClassifiedNon-ClassifiedClassified(In thousands)Residential$7,426 $25 $6,841 $34 Commercial2,570 — 2,585 — Installment6,600 — 5,439 — Consumer32,661 — 25,536 — Secured credit card6,031 1,709 6,532 2,536 Total loans$55,288 $1,734 $46,933 $2,570 Allowance for Credit LossesActivity in the allowance for credit losses on our loan portfolio consisted of the following:Three Months Ended June 30,Six Months Ended June 30,2025202420252024(In thousands)Balance, beginning of period$22,356 $10,376 $17,542 $11,383 Provision for loans3,960 11,959 15,087 16,747 Loans charged off(3,940)(5,