Company: GDOT
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001386278-25-000034
Chunk: 65

Company: GREEN DOT CORP
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 65
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 an unrealized loss position as of March 31, 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.

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Table of ContentsGREEN DOT CORPORATIONNOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)

Note 4—Investment Securities (continued) In April 2025, we sold certain available-for-sales securities in order to reposition the proceeds into higher yielding assets. As a result, we recorded a realized loss of $24.5 million for the three months ended March 31, 2025 because we no longer had the intent to hold the securities until recovery of their amortized cost bases. The losses were recorded as a reduction of the amortized cost basis for each security and are reflected as a component of other expense, net on our consolidated statements of operations.As of March 31, 2025, the contractual maturities of our available-for-sale investment securities were as follows:Amortized costFair value(In thousands)Due in one year or less$102,067 $102,037 Due after one year through five years86,247 80,042 Due after five years through ten years117,226 99,530 Due after ten years53,824 41,642 Mortgage and asset-backed securities2,043,309 1,781,033 Total investment securities$2,402,673 $2,104,284 

The expected payments on mortgage-backed and asset-backed securities may not coincide with their contractual maturities because the issuers have the right to call or prepay certain obligations. 

Note 5—Accounts Receivable

Accounts receivable, net consisted of the following:March 31, 2025December 31, 2024 (In thousands)Trade receivables$43,591 $35,426 Reserve for uncollectible trade receivables(34)— Net trade receivables43,557 35,426 Overdrawn accountholder balances from purchase transactions6,257 5,827