Green Dot 2015 Annual Report Download - page 55

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49
December 31, 2015 December 31, 2014
(In thousands, except percentages)
Allowance for loan losses:
Beginning balance $ 444 $464
Loans charged off:
Commercial ——
Residential ——
Installment 44 66
Total 44 66
Recoveries of loans previously charged off:
Commercial 10 10
Residential 44
Installment 50 12
Total 64 26
Net loans charged off (20)40
Provision for allowance for loan losses (38)20
Ending balance $ 426 $444
Allowance for loan losses to loans outstanding at year-end 6.3 % 6.3%
Net charge-offs to average loans 0.60 % 0.93%
Total (reduction of) provision for credit losses to average loans (0.52)% 0.28%
Recoveries to gross charge-offs 0.87 % 0.37%
Allowance for loan losses as a multiple of net charge-offs 9.68 6.73
At December 31, 2015, the carrying value, gross of the related allowance for loan losses, of impaired and TDR
loans totaled $0.7 million. Of these loans, $0.2 million have a specific allowance.
The components of our allowance for loan losses, by category, are as follows:
December 31, 2015 December 31, 2014
Allowance % of Loans Allowance % of Loans
(In thousands, except percentages)
Loan category:
Commercial $ 9 2.1% $ 25 5.6%
Residential 119 27.9 139 31.3
Installment 298 70.0 280 63.1
Total $426 100.0%$444 100.0%
Loan Portfolio Concentrations
Green Dot Bank, our subsidiary bank, operates at a single office in Provo, Utah located in the Utah County area.
As of December 31, 2015, approximately 93.4% of our borrowers resided in the state of Utah and approximately 40.2%
in the city of Provo. Consequently, this loan portfolio is susceptible to any adverse market or environmental conditions
that may impact this specific geographic region.