Company: GDOT
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001386278-25-000009
Chunk: 160

Company: GREEN DOT CORP
Filing Date: 2025-03-04
Form: 10-K
Item: Item 8
Chunk 160
---
, and revenue growth.Revenues derived from our products sold at retail distributors constituting greater than 10% of our total operating revenues were as follows: Year Ended December 31, 202420232022Walmart10%17%21%In addition, approximately 55%, 42%, and 30% of our total operating revenues for the years ended December 31, 2024, 2023 and 2022, respectively, were generated from a single BaaS partner, but without a corresponding concentration to our gross profit for the respective periods.

93

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

Note 23—Regulatory Requirements

Our subsidiary bank, Green Dot Bank, is a member bank of the Federal Reserve System and our primary regulator is the Federal Reserve Board. We and Green Dot Bank are subject to commitments with respect to minimum capital and leverage requirements that we have made to the Federal Reserve Board and the Utah Department of Financial Institutions. In addition, we and Green Dot Bank are subject to various regulatory capital and leverage requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory actions by regulators that, if undertaken, could have a direct material effect on our financial statements. Under capital adequacy guidelines, we and Green Dot Bank must meet specific capital guidelines that involve quantitative measures of the assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. As of December 31, 2024 and 2023, we and Green Dot Bank were categorized as "well-capitalized" under applicable regulatory standards. There were no conditions or events since December 31, 2024 which management believes would have caused us or Green Dot Bank not to be considered "well-capitalized." Our capital ratios and related regulatory requirements were as follows:December 31, 2024AmountRatioRegulatory Minimum"Well-capitalized" Minimum(In thousands, except ratios)Green Dot Corporation:Tier 1 leverage$760,571 15.0 %4.0 %n/aCommon equity Tier 1 capital$760,571 42.6 %4.5 %n/aTier 1 capital $760,571 42.6 %6.0 %6.0 %Total risk-based capital$782,207 43.8 %8.0