Green Dot 2012 Annual Report Download - page 55

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45
The following table shows the scheduled maturities, by amortized cost, and average yields for Green Dot Bank’s
investment portfolio at December 31, 2012 and December 31, 2011:
Due in one year
or less
Due after one
year through
five years
Due after five
years through
ten years Due after ten
years Total
December 31, 2012 (In thousands)
Agency securities $ — $ — $ 804 $—$804
Municipal bonds 562 831 629 — 2,022
U.S. treasury notes 16,983 3,037 —— 20,020
Total fixed-income securities $ 17,545 $ 3,868 $1,433 $—$22,846
Weighted-average yield 0.23% 0.79%2.69%—%0.48%
December 31, 2011
Agency securities $ — $ 1,060 $2,080 $839 $3,979
Municipal bonds — 1,315 961 103 2,379
Total fixed-income securities $ — $ 2,375 $3,041 $942 $6,358
Weighted-average yield —% 2.98%3.07%3.26%3.06%
Loan Portfolio
The aggregate loan portfolio before allowance for loan losses totaled $8.0 million at December 31, 2012 or a 20.0%
decrease compared to December 31, 2011. The following table shows the composition of Green Dot Bank’s loan
portfolio as of December 31, 2012 and December 31, 2011:
Due in one year
or less
Due after one
year through
five years Due after five
years Total
December 31, 2012 (In thousands)
Real estate
Fixed rate $1,648 $1,687 $—$3,335
Commercial
Fixed rate 950 — — 950
Floating rate — 133 — 133
Installment
Fixed rate 826 2,212 96 3,134
Total loans $3,424 $4,032 $ 96 $ 7,552
December 31, 2011
Real estate
Fixed rate $ 3,630 $1,856 $—$5,486
Commercial
Fixed rate 1,230 34 1,264
Floating rate — — 153 153
Installment
Fixed rate 388 2,746 — 3,134
Total loans $ 5,248 $4,636 $153 $10,037
Allowance for Loan Losses
The allowance for loan losses totaled $0.5 million or 6.3% of outstanding loans and 122.7% of nonaccruing loans
at December 31, 2012. There was no allowance as of December 31, 2011 as all loans were recorded at fair value as
of the purchase date of Green Dot Bank on December 8, 2011. The increase in the allowance for loan loss balance
during the year was due to seasoning of our loan portfolio and subsequent changes in estimated inherent credit losses
since the acquisition date fair value determination. Refer to Note 2 - Summary of Significant Accounting Policies in
Item 8 of this report for our accounting policy on allowance for loan losses.