Company: GDOT
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001386278-25-000064
Chunk: 115

Company: GREEN DOT CORP
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 115
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 decrease of $0.6 million in general business credits, an increase of $0.9 million in state income taxes expense, net of federal benefits, and a lower tax rate benefit from the cash surrender value in bank-owned life insurance policies. These increases were partially offset by a decrease of $0.8 million in tax expense associated with shortfalls from stock-based compensation, a decrease of $0.7 million related to bank-owned life insurance surrender penalties we incurred in connection with the surrender and restructuring of our existing bank-owned life insurance policies in 2024, and a decrease of $14.5 million in tax expense from nondeductible expenses and penalties associated with the civil money penalty we incurred in 2024 for our Consent Order.

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 and six months ended June 30, 2025 and 2024 were as follows:

Three Months Ended June 30,Six Months Ended June 30,20252024Change%20252024Change%(In thousands, except percentages)Financial ResultsSegment revenues$93,099 $96,620 $(3,521)(3.6)%$188,355 $197,232 $(8,877)(4.5)%Segment expenses60,005 62,171 (2,166)(3.5)%121,629 129,524 (7,895)(6.1)%Segment profit$33,094 $34,449 $(1,355)(3.9)%$66,726 $67,708 $(982)(1.5)%Key Metrics(In millions, except percentages)Gross dollar volume$3,925 $4,014 $(89)(2.2)%$8,163 $8,514 $(351)(4.1)%Number of active accounts*1.67 1.76 (0.09)(5.1)%n/an/an/an/aDirect deposit active accounts*0.41 0.45 (0.04)(8.9)%n/an/an/an/aPurchase volume$2,991 $3,036 $(45)(1.5)%$6,118 $6,375 $(257)(4.0)%

* Represents total number of active and direct deposit active accounts as of June