Green Dot 2015 Annual Report Download - page 53

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47
The following table presents the rate/volume variance in interest income and expense for the year ended
December 31, 2015:
December 31, 2015
Total Change in
Interest Income/
Expense Change Due to
Rate (1) Change Due to
Volume (1)
(In thousands)
Loans $ 192 $228 $(36)
Taxable investment securities 667 (85)752
Non-taxable investment securities (3) —(3)
Federal reserve stock 21 (2) 23
Federal funds sold ———
Cash 128 33 95
$1,005 $174 $831
Negotiable order of withdrawal (NOW) $ —$—$—
Savings deposits —(2) 2
Time deposits, denominations greater than or equal to $100 6 — 6
Time deposits, denominations less than $100 (2) —(2)
$4$ (2) $ 6
___________
(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.
Investment Portfolio
The following table presents the amortized cost and fair value of Green Dot Bank’s investment portfolio at
December 31, 2015, 2014 and 2013:
December 31, 2015 December 31, 2014 December 31, 2013
Amortized
Cost Fair Value Amortized
Cost Fair Value Amortized
Cost Fair Value
(In thousands)
Corporate bonds $ 30,186 $ 30,147 $27,107 $27,069 $28,718 $28,730
Agency securities ——— — 245 245
Mortgage-backed securities 100,206 99,781 36,251 36,220 4,169 4,002
Municipal bonds 854 865 908 920 1,672 1,679
Total fixed-income securities $ 131,246 $ 130,793 $64,266 $64,209 $34,804 $34,656
The following table shows the scheduled maturities, by amortized cost, and average yields for Green Dot Bank’s
investment portfolio at December 31, 2015:
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 $ 23,390 $ 6,796 $ — $ —$30,186
Mortgage-backed securities — — — 100,206 100,206
Municipal bonds — 534 320 — 854
Total fixed-income securities $ 23,390 $ 7,330 $320 $ 100,206 $ 131,246
Weighted-average yield 0.85% 1.00%4.21%1.36%1.25%