Green Dot 2013 Annual Report Download - page 52

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45
The following table presents the rate/volume variance in interest income and expense for the year ended
December 31, 2013:
December 31, 2013
Total Change in
Interest Income/
Expense Change Due to
Rate (1) Change Due to
Volume (1)
(In thousands)
Loans $ (241) $ (28) $ (213)
Taxable investment securities 108 (22)130
Non-taxable investment securities (7) 4 (11)
Federal reserve stock 63 (7) 70
Federal funds sold (2) (1) (1)
Cash 640 152 488
$561 $ 98 $ 463
Negotiable order of withdrawal (NOW) ———
Savings deposits (2) (1) (1)
Time deposits, denominations greater than or equal to $100 (22)(15) (7)
Time deposits, denominations less than $100 (19)(16) (3)
$(43) $ (32) $ (11)
___________
(1) The change in interest income and expense not solely due to changes in volume or rate has been allocated on a pro-rata basis
to the volume and rate columns.
The change in interest income and expense from the period ended December 31, 2011 to the year ended
December 31, 2012 was volume related.
Investment Portfolio
The following table presents the amortized cost and fair value of Green Dot Bank’s investment portfolio at
December 31, 2013, 2012 and 2011:
December 31, 2013 December 31, 2012 December 31, 2011
Amortized
Cost Fair Value Amortized
Cost Fair Value Amortized
Cost Fair Value
(In thousands)
Corporate bonds $ 28,718 $ 28,730 $ — $ — $ — $ —
Agency securities 245 245 804 811 3,979 3,987
Mortgage-backed securities 4,169 4,002 ————
Municipal bonds 1,672 1,679 2,022 2,058 2,379 2,391
U.S. treasury notes — — 20,020 19,956 — —
Total fixed-income securities $ 34,804 $ 34,656 $22,846 $22,825 $6,358 $6,378
The following table shows the scheduled maturities, by amortized cost, and average yields for Green Dot Bank’s
investment portfolio at December 31, 2013:
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
(In thousands, except percentages)
Corporate bonds $ 18,248 $ 10,470 $ — $ —$28,718
Agency securities — — 245 — 245
Mortgage-backed securities — — — 4,169 4,169
Municipal bonds 107 721 344 500 1,672
Total fixed-income securities $ 18,355 $ 11,191 $ 589 $4,669 $34,804
Weighted-average yield 0.6% 0.5% 0.2% 4.9% 0.6%