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GREEN DOT CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (CONTINUED)
71
Note 7—Goodwill and Intangible Assets (continued)
Intangible Assets
The gross carrying amounts and accumulated amortization related to intangibles assets were as follows:
December 31, 2012 December 31, 2011
Gross Carrying
Value Accumulated
Amortization Gross Carrying
Value Accumulated
Amortization
(In thousands) (In thousands)
Finite-lived intangibles $926 $(372)$926 $(242)
Indefinite-lived intangibles 3,000 N/A —N/A
Total intangible assets $3,926 $(372)$926 $(242)
Amortization expense, a component of other general and administrative expenses, on finite-lived intangibles was
$130,000 and $100,000 for the years ended December 31, 2012 and December 31, 2011, respectively. None of the
intangible assets were impaired as of December 31, 2012 or 2011.
Note 8—Deposits
In November 2012, we transitioned all outstanding customer deposits associated with our card issuing program
with Synovus Bank to Green Dot Bank. These deposits are included as "GPR deposits" within non-interest bearing
deposit accounts below. Deposits were categorized as non-interest and interest-bearing deposits as follows:
December 31,
2012 2011
Non-interest bearing deposit accounts (In thousands)
GPR deposits $ 165,739 $ 51
Other demand deposits 16,138 19,095
Total non-interest bearing deposit accounts 181,877 19,146
Interest-bearing deposit accounts
Negotiable order of withdrawal (NOW) 1,860 1,612
Savings 5,986 7,118
Time deposits, denominations greater than or equal to $100 6,417 1,381
Time deposits, denominations less than $100 2,311 9,700
Total interest-bearing deposit accounts 16,574 19,811
Total deposits $ 198,451 $38,957
The scheduled contractual maturities for total time deposits are presented in the table below:
December 31, 2012
(In thousands)
Due in 2013 $ 4,592
Due in 2014 783
Due in 2015 1,687
Due in 2016 982
Due in 2017 684
Thereafter —
Total time deposits $ 8,728
Note 9—Stockholders’ Equity
Convertible Preferred Stock
In December 2011, we filed a restated Certificate of Incorporation that authorized 10,085 shares of Series A
Convertible Junior Participating Non-Cumulative Perpetual Preferred Stock, or Series A Preferred Stock. We then
entered into and completed a share exchange with a significant shareholder, whereby 6,859,000 shares of our Class
B common stock were exchanged for 6,859 shares of our newly created series of preferred stock. Our Certificate of
Incorporation specified the following rights, preferences, and privileges for our Series A preferred stockholders.