Green Dot 2010 Annual Report Download - page 96

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Note 14 — Significant Customer Concentrations (continued)
obligations by us to customers and material write-offs of uncollectible receivables due from these card
issuing banks.
Note 15 — Business Combination
On February 4, 2010, we entered into a definitive agreement to acquire 100% of the outstanding
common shares and voting interest of Bonneville Bancorp for approximately $15.7 million in cash, subject
to approval by various regulatory bodies. Bonneville Bancorp, a Utah bank holding company, offers a range
of business and consumer banking products in the Provo, Utah area through its bank subsidiary,
Bonneville Bank, or the Bank. The Bank also originates commercial, industrial, residential, real estate
and personal loans. We expect to focus the Bank on issuing our Green Dot-branded debit cards linked to an
FDIC-insured transactional account.
As of December 31, 2010, regulatory approval of our proposed bank acquisition was still pending.
87
GREEN DOT CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)