Company: GDOT
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001386278-25-000034
Chunk: 64

Company: GREEN DOT CORP
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 64
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,032,802 As of March 31, 2025 and December 31, 2024, the gross unrealized losses and fair values of available-for-sale investment securities that were in unrealized loss positions were as follows:Less than 12 months12 months or moreTotal fair valueTotal unrealized lossFair valueUnrealized lossFair valueUnrealized loss(In thousands)March 31, 2025Corporate bonds$— $— $9,970 $(30)$9,970 $(30)Agency bond securities— — 169,018 (30,208)169,018 (30,208)Agency mortgage-backed securities85,489 (292)1,096,475 (261,996)1,181,964 (262,288)Municipal bonds— — 22,949 (5,875)22,949 (5,875)Total investment securities$85,489 $(292)$1,298,412 $(298,109)$1,383,901 $(298,401)December 31, 2024Corporate bonds$— $— $9,890 $(110)$9,890 $(110)Agency bond securities— — 202,496 (38,132)202,496 (38,132)Agency mortgage-backed 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 months ended March 31, 2025 or 2024 on our available-for-sale investment securities. Unrealized losses as of March 31, 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