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    Green Dot Corp (GDOT)

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    Green Dot Corporation (GDOT) is a financial technology and bank holding company that offers a variety of banking and payment solutions. The company provides services to both individual consumers and businesses, leveraging technology and partnerships to deliver innovative financial products. GDOT sells prepaid debit cards, checking accounts, and money movement services through multiple distribution channels, including retail locations and online platforms.

    1. Business-to-Business (B2B) Services - Integrates banking products and services into corporate platforms, offering Banking-as-a-Service (BaaS) solutions and payroll platforms for workforce payments.

      • Banking-as-a-Service (BaaS) - Partners with consumer and technology companies to offer banking products to their consumers, partners, and workforce.
      • Employer Channel - Provides a payroll platform for corporate enterprises to facilitate workforce payments.
    2. Consumer Services - Offers deposit account programs, including consumer checking accounts, prepaid cards, secured credit cards, and gift cards, distributed through retail and direct channels.

      • Retail Channel - Distributes products through over 90,000 retail locations and Financial Service Centers.
      • Direct Channel - Markets products directly to consumers via online and mobile advertising.
    3. Money Movement Services - Facilitates cash movement for consumers and businesses, offering money processing and tax refund processing services.

      • Money Processing Services - Provides cash deposit and disbursement services to third-party banks and companies.
      • Tax Refund Processing Services - Offers financial services through tax preparation franchises and professionals.
    4. Corporate and Other - Includes net interest income from investments and unallocated corporate expenses such as salaries and utilities.

    NamePositionExternal RolesShort Bio

    Amy Pugh

    Executive

    General Counsel and Secretary

    None

    Amy Pugh joined GDOT in September 2022. She previously held legal leadership roles at Cross River Bank and Ubiquity Global Services.

    Chris Ruppel

    Executive

    Chief Revenue Officer and Interim President

    None

    Chris Ruppel joined GDOT in March 2017 and was appointed interim President on March 7, 2025. He has extensive experience in PayCard businesses and fintech operations.

    Jess Unruh

    Executive

    Chief Financial Officer

    None

    Jess Unruh joined GDOT in July 2009 and has held various financial leadership roles, becoming CFO in November 2022. He has extensive experience in financial reporting and compliance.

    Teresa Watkins

    Executive

    Chief Operations Officer

    None

    Teresa Watkins joined GDOT in December 2013 and became COO in November 2022. She has a strong background in payment processing and operational efficiency.

    Ellen Richey

    Board

    Director

    Board Member at Cantaloupe, Inc.; Board Member at Girl Scouts of Northern California

    Ellen Richey has been a GDOT Director since April 2020. She has extensive experience in risk management and public policy, with senior roles at Visa Inc..

    George T. Shaheen

    Board

    Director

    Managing Director at Andersen, LLP; Board Member at Marcus & Millichap, Inc. and NetApp, Inc.

    George T. Shaheen has been a GDOT Director since September 2013. He previously served as Lead Independent Director in 2020 and has extensive management experience.

    J. Chris Brewster

    Board

    Director

    Chairman of the Audit Committee at R3, LLC; Director at Houston Area Parkinson Society

    J. Chris Brewster has been a GDOT Director since April 2016. He served as interim President in 2020 and has extensive financial services experience.

    Michelleta Razon

    Board

    Director

    Head of Data Enablement at MetLife, Inc.; Executive Committee Member at America on Tech

    Michelleta Razon joined GDOT's Board in October 2023. She has a strong background in technology and financial operations, with leadership roles at Google and Mastercard.

    Robert Millard

    Board

    Director

    CFO at CHG Healthcare

    Robert Millard joined GDOT's Board in March 2024. He has extensive financial management expertise and serves as CFO at CHG Healthcare.

    Saturnino Fanlo

    Board

    Director

    None

    Saturnino Fanlo has been a GDOT Director since May 2016. He has extensive experience in financial services and capital markets.

    William I. Jacobs

    Board

    Chairperson of the Board

    Board Member at Repay Holdings Corporation

    William I. Jacobs has been Chairperson of GDOT's Board since June 2016 and is currently serving as interim CEO as of March 7, 2025. He has extensive experience in financial services and payments industries.

    1. Despite projecting a 10% revenue growth in 2025, your adjusted EBITDA is expected to decline by 9% at the midpoint. Can you delve into the specific factors causing this margin compression, particularly in the Consumer Services segment, and explain what measures you're taking to address these profitability challenges?

    2. The Consumer Services segment continues to face secular headwinds with anticipated revenue declines and margin pressures, especially in the retail channel. Given these persistent challenges, what is your long-term strategy to stabilize and potentially grow this segment, and how confident are you in your ability to reverse the declining trends?

    3. You are significantly investing in compliance and risk management infrastructure, which is contributing to increased expenses. Could you provide more details on how these investments will drive future revenue growth and profitability, and what the expected timeline is for realizing returns on these investments?

    4. Your B2B segment is projected to grow revenue by over 20% in 2025, yet margins are expected to remain flat. What are the reasons for the lack of margin expansion in this high-growth segment, and how do you plan to improve profitability and achieve scalability as this segment continues to grow?

    5. With the competitive landscape intensifying in the embedded finance and Banking-as-a-Service space, how does Green Dot plan to differentiate itself to attract and retain partners, and what risks do you see from competitors potentially outpacing you in onboarding new partners or offering more innovative solutions?

    Program DetailsProgram 1Program 2Program 3
    Approval DateFebruary 2022 March 2022 (ASR) March 2022 (10b5-1)
    End Date/DurationNo expiration date April 2022 (final settlement) December 2022 (early termination)
    Total Additional Amount$100 million $25 million $75 million
    Remaining Amount$4.5 million $0 (completed) $0 (completed)
    DetailsIncreased authorization to $100 million; active 914,037 shares repurchased at $27.35 3,150,181 shares repurchased at $22.39
    CustomerRelationshipSegmentDetails

    Single BaaS Partner

    Provides integrated banking solutions within partner platform

    BaaS

    Contributed 55% of total operating revenues in 2024

    Walmart

    Major retail distributor of prepaid cards and MoneyCard program

    Retail

    Contributed 10% of total operating revenues in 2024

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    UniRush, LLC

    2017

    Recent press releases and 8-K filings for GDOT.

    Green Dot Announces Strategic Alternatives Review and Leadership Transition
    GDOT
    CEO Change
    Management Change
    M&A
    • Green Dot Board has engaged Citi to explore potential strategic alternatives, with no specific outcome or timing expected at this stage.
    • Leadership changes include the appointment of William I Jacobs as interim CEO and Chris Ruppel as interim President (and interim CEO of Green Dot Bank), both effective March 7, 2025, while George Gresham has stepped down as CEO.
    Mar 10, 2025, 12:00 AM