Company: GDOT
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001386278-25-000034
Chunk: 103

Company: GREEN DOT CORP
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 103
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 the surrender and restructuring of our existing bank owned life insurance policies completed in 2024. These decreases in our effective tax rate were partially offset by an increase in state income taxes expense, net of federal benefits of $1.3 million for the three months ended March 31, 2025 .

The "Other" category in our effective tax rate consists of a variety of permanent differences, none of which were individually significant.

Segment Results

Consumer Services

The results of operations and key metrics of our Consumer Services segment for the three months ended March 31, 2025 and 2024 were as follows:

Three Months Ended March 31,20252024Change%(In thousands, except percentages)Financial ResultsSegment revenues$95,256 $100,612 $(5,356)(5.3)%Segment expenses61,624 67,353 (5,729)(8.5)%Segment profit$33,632 $33,259 $373 1.1 %Key Metrics(In millions, except percentages)Gross dollar volume$4,238 $4,500 $(262)(5.8)%Number of active accounts*1.80 1.93 (0.13)(6.7)%Direct deposit active accounts*0.41 0.46 (0.05)(10.9)%Purchase volume$3,127 $3,339 $(212)(6.3)%

* Represents total number of active and direct deposit active accounts as of March 31, 2025 and 2024, respectively.

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As additional supplemental information, our key metrics within our Consumer Services segment is presented on a quarterly basis as follows:

20252024Q1Q4Q3Q2Q1(In millions)Key MetricsGross dollar volume$4,238 $4,060 $3,983 $4,014 $4,500 Number of active accounts *1.80 1.88 1.78 1.76 1.93 Direct deposit active accounts *0.41 0.43 0.44 0.45 0.46 Purchase volume$3,127 $3,082 $2,904 $3,036 $3,339 

* Represents total number of active accounts as of the end of each quarter.

Segment revenues within Consumer Services for the three months ended March 31, 2025 decreased $5.4 million, or