Green Dot 2015 Annual Report Download - page 77

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71
Note 4—Investment Securities
Our available-for-sale investment securities were as follows:
Amortized cost Gross unrealized
gains Gross unrealized
losses Fair value
(In thousands)
December 31, 2015
Corporate bonds $33,201 $—$(47) $ 33,154
Commercial paper 6,504 3 (2) 6,505
U.S. Treasury notes 17,541 — (16)17,525
Agency securities 4,034 — (19)4,015
Mortgage-backed securities 100,131 195 (554)99,772
Municipal bonds 1,954 11 (65)1,900
Asset-backed securities 18,725 — (57)18,668
Total investment securities $182,090 $209 $(760) $ 181,539
December 31, 2014
Corporate bonds $ 40,433 $ 4 $ (48) $ 40,389
Commercial paper 7,648 1— 7,649
U.S. Treasury notes 14,782 5(16)14,771
Agency securities 2,950 — — 2,950
Mortgage-backed securities 35,420 119 (177)35,362
Municipal bonds 5,555 61 (21)5,595
Asset-backed securities 13,727 — (12)13,715
Total investment securities $ 120,515 $190 $(274) $ 120,431
As of December 31, 2015 and 2014, the gross unrealized losses and fair values of available-for-sale investment
securities that were in unrealized loss positions were as follows:
Less than 12 months 12 months or more
Total
fair value Total
unrealized lossFair value Unrealized
loss Fair value Unrealized
loss
(In thousands)
December 31, 2015
Corporate bonds $ 20,416 $ (22) $ 10,679 $(25) $ 31,095 $(47)
Commercial paper 4,322 (2) — — 4,322 (2)
U.S. Treasury notes 17,525 (16) — — 17,525 (16)
Agency securities 4,015 (19) — — 4,015 (19)
Mortgage-backed securities 53,634 (410)21,518 (144)75,152 (554)
Municipal bonds — — 1,035 (65)1,035 (65)
Asset-backed securities 18,668 (57) — — 18,668 (57)
Total investment securities $ 118,580 $ (526) $ 33,232 $(234) $ 151,812 $(760)
December 31, 2014
Corporate bonds $ 33,348 $ (48) $ — $ — $ 33,348 $(48)
U.S. Treasury notes 6,068 (16) — — 6,068 (16)
Mortgage-backed securities 21,495 (163)1,143 (14)22,638 (177)
Municipal bonds — — 419 (21)419 (21)
Asset-backed securities 12,254 (12) — — 12,254 (12)
Total investment securities $ 73,165 $ (239) $ 1,562 $(35) $ 74,727 $(274)
We did not record any other-than-temporary impairment losses during the years ended December 31, 2015 and
2014 on our available-for-sale investment securities. We do not intend to sell these investments and we have determined
that it is more likely than not that we will not be required to sell these investments before recovery of their amortized
cost bases, which may be at maturity.