Company: GDOT
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001386278-25-000009
Chunk: 134

Company: GREEN DOT CORP
Filing Date: 2025-03-04
Form: 10-K
Item: Item 8
Chunk 134
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 backed by the U.S. federal government, as our investment policy restricts our investments to highly liquid, low credit risk assets. As such, we have not recorded any significant credit-related impairment losses during the years ended December 31, 2024, 2023 or 2022 on our available-for-sale investment securities. Unrealized losses as of December 31, 2024 and 2023 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 December 31, 2024 and 2023 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.We do not currently intend to sell our 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.As of December 31, 2024, the contractual maturities of our available-for-sale investment securities were as follows:Amortized costFair value(In thousands)Due in one year or less$24,273 $24,152 Due after one year through five years98,403 87,908 Due after five years through ten years117,225 96,543 Due after ten years54,116 40,888 Mortgage and asset-backed securities2,106,764 1,783,311 Total investment securities$2,400,781 $2,032,802 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:December 31, 2024December 31, 2023 (In thousands)Trade receivables$35,426 $29,786 Reserve for uncollectible trade receivables— (109)Net trade receivables35,426 29,677 Overdrawn accountholder balances from purchase transactions5,827 9,565 Reserve for uncollectible overdrawn accounts from purchase transactions(1,741)(5,281)Net overdrawn accountholder balances from