Green Dot 2015 Annual Report Download - page 78

Download and view the complete annual report

Please find page 78 of the 2015 Green Dot annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 108

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108

72
Note 4—Investment Securities (continued)
As of December 31, 2015, the contractual maturities of our available-for-sale investment securities were as follows:
Amortized cost Fair value
(In thousands)
Due in one year or less $ 49,146 $49,106
Due after one year through five years 12,668 12,634
Due after five years through ten years 320 324
Due after ten years 1,100 1,035
Mortgage and asset-backed securities 118,856 118,440
Total investment securities $ 182,090 $ 181,539
The expected payments on mortgage-backed and asset-backed securities may not coincide with their contractual
maturities because the issuers have the right to call or prepay certain obligations.
Note 5—Accounts Receivable
Accounts receivable, net consisted of the following:
December 31, 2015 December 31, 2014
(In thousands)
Overdrawn account balances due from cardholders $10,198 $14,412
Reserve for uncollectible overdrawn accounts (7,999) (11,196)
Net overdrawn account balances due from cardholders 2,199 3,216
Trade receivables 10,644 8,265
Reserve for uncollectible trade receivables (58)(16)
Net trade receivables 10,586 8,249
Receivables due from card issuing banks 8,852 28,349
Fee advances 11,621 6,545
Other receivables 8,895 2,558
Accounts receivable, net $42,153 $48,917
Activity in the reserve for uncollectible overdrawn accounts consisted of the following:
Year Ended December 31,
2015 2014 2013
(In thousands)
Balance, beginning of period $11,196 $10,363 $15,677
Provision for uncollectible overdrawn accounts:
Fees 55,595 34,057 45,048
Purchase transactions 7,699 4,216 2,225
Charge-offs (66,491) (37,440) (52,587)
Balance, end of period $7,999 $11,196 $10,363