Company: GDOT
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001386278-25-000064
Chunk: 149

Company: GREEN DOT CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 8
Chunk 149
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 August 2026 and will bear interest at variable market rates, but subject to a minimum rate of 6.0% per annum. Interest payments are due monthly, and accrue based on the then-outstanding principal balance. We had no outstanding balance as of June 30, 2025.2019 Revolving FacilityIn October 2019, we entered into a secured credit agreement with Wells Fargo Bank, National Association, and other lenders party thereto. The credit agreement provided for a $100.0 million five-year revolving line of credit (the "2019 Revolving Facility"), which matured in October 2024. In September 2024, the then-outstanding balance on the 2019 Revolving Facility was repaid in full, and the 2019 Revolving Facility terminated at its maturity date.

We incurred total cash interest expense on our debt of approximately $1.4 million and $1.2 million during the three months ended June 30, 2025 and 2024, respectively, and $2.7 million during each of the six months ended June 30, 2025 and 2024.

Note 10—Income Taxes

Our income tax benefit for the six months ended June 30, 2025 and income tax expense for the six months ended June 30, 2024 differs from the amount computed by applying the statutory federal income tax rate to income before income taxes. The sources and tax effects of the differences are as follows: Six Months Ended June 30, 20252024U.S. federal statutory tax rate21.0 %21.0 %State income taxes, net of federal tax benefit5.7 11.5 Foreign tax rate differential0.3 2.9 General business credits1.6 24.9 IRC 162(m) limitation2.3 7.5 Stock-based compensation(4.9)(12.6)Bank-owned life insurance income2.0 8.7 Bank-owned life insurance surrender— (3.1)Nondeductible expenses and penalties(0.3)(65.5)Global intangible low-tax income tax(0.2)(3.2)Other(0.1)(0.1)Effective tax rate27.4 %(8.0)%

15

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

Note 10—Income