Company: GDOT
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001386278-25-000064
Chunk: 141

Company: GREEN DOT CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 141
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5 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 June 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 an estimated realized loss of $24.5 million during 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 as of the then balance sheet date. Total losses recognized upon final settlement of the securities sold amounted to $24.8 million, and are reflected as a component of other expense, net on our consolidated statement of operations for the six months ended June 30, 2025.As of June 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$65,500 $58,559 Due after five years through ten years88,726 76,208 Due after ten years53,819 41,140 Mortgage and asset-backed securities1,609,636 1,361,751 Total investment securities$1,817,681 $1,537,658 

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:June 30, 2025December 31, 2024 (In thousands)Trade receivables$50,880 $35,426 Reserve for uncollectible trade receivables(44)— Net trade receivables50,836