Company: GDOT
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001386278-25-000034
Chunk: 67

Company: GREEN DOT CORP
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 67
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Commercial— — — — 2,585 2,585 Installment— 933 — 933 4,506 5,439 Consumer1,668 — — 1,668 23,868 25,536 Secured credit card700 700 2,536 3,936 5,132 9,068 Total loans$2,369 $1,633 $2,536 $6,538 $42,965 $49,503 Percentage of outstanding4.8 %3.3 %5.1 %13.2 %86.8 %100.0 %We offer an optional overdraft protection program service on certain demand deposit account programs that allows customers who opt-in and meet certain criteria to spend up to a pre-authorized amount in excess of their available account balance. When overdrawn, the purchase related balances due on these deposit accounts are reclassified as consumer loans. Fees due from our accountholders for our overdraft service are included as a component of accounts receivable. Overdrawn balances are unsecured and considered immediately due from the customer. Also included in consumer loans are advances made to taxpayers under our tax advance program. These loan balances generally fluctuate over the first half of each year due to the seasonal nature of these advances.A portion of our secured credit card portfolio is classified as loans held for sale. These loans are included in the long-term portion of prepaid and other assets on our consolidated balance sheets. Changes in valuation allowances are recorded as a component of other income and expenses on our consolidated statement of operations. As of March 31, 2025 and December 31, 2024, the fair value of the loans held for sale amounted to approximately $3.6 million and $3.8 million, respectively.Nonperforming LoansThe following table presents the 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.March 31, 2025December 31, 2024(In thousands)Residential$31 $34 Secured credit card2,022 2,536 Total loans$2,053 $2,570