Company: GDOT
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001386278-25-000076
Chunk: 144

Company: GREEN DOT CORP
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 8
Chunk 144
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 securities15,311 (937)1,781,301 (322,530)1,796,612 (323,467)Municipal bonds— — 22,843 (6,273)22,843 (6,273)Total investment securities$15,311 $(937)$2,016,530 $(367,045)$2,031,841 $(367,982)Our investments generally consist of highly rated securities, substantially all of which are directly or indirectly backed by the U.S. federal government, as our investment policy restricts our investments to highly liquid, low credit risk assets. As such, we have not recorded any credit-related impairment loss during the three and nine months ended September 30, 2025 or 2024 on our available-for-sale investment securities. Unrealized losses as of September 30, 2025 and December 31, 2024 are the result of increases in interest rates relative to when they were purchased as our investment portfolio is comprised predominantly of fixed rate securities. Substantially all of the underlying securities within our investment portfolio were in an unrealized loss position as of September 30, 2025 and December 31, 2024 due to the timing of our investment purchases, as a significant portion of our investments were purchased prior to increases in interest rates by the Federal Reserve, and general volatility in market conditions.Except as disclosed below, we do not currently intend to sell our remaining investments, and we have determined that it is more likely than not that we will not be required to sell our investments before recovery of their amortized cost bases, which may be at maturity. In April 2025, we sold certain available-for-sale securities in order to reposition the proceeds into higher yielding assets. As a result, we recorded a realized loss of $24.8 million upon final settlement of the securities sold. Realized losses are reflected as a component of other expense, net on our consolidated statement of operations for the nine months ended September 30, 2025.As of September 30, 2025, the contractual maturities of our available-for-sale investment securities were as follows:Amortized costFair value(In thousands)Due after one year through five years$90,496 $81,270 Due after five years through ten years63,730 55,202 Due after ten years53,460 41,887 Mortgage and asset-backed securities2,375,087