0001386278-21-000008 | 10-K | XBRL Viewer

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Cover Page - USD ($) $ in Billions	12 Months Ended
Cover Page - USD ($) $ in Billions	Dec. 31, 2020	Jan. 31, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-34819
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-4766827
Entity Address, Address Line One	3465 E. Foothill Blvd.
Entity Address, City or Town	Pasadena,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91107
City Area Code	(626)
Local Phone Number	765-2000
Title of 12(b) Security	Class A Common Stock, $0.001 par value
Trading Symbol	GDOT
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 2.1
Entity Common Stock, Shares Outstanding		54,157,065
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s proxy statement relating to the registrant’s 2021 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K where indicated.
Entity Registrant Name	GREEN DOT CORP
Entity Central Index Key	0001386278
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Unrestricted cash and cash equivalents	$ 1,491,842	$ 1,063,426
Restricted cash	4,859	2,728
Investment securities available-for-sale, at fair value	0	10,020
Settlement assets	782,262	239,222
Accounts receivable, net	67,755	59,543
Prepaid expenses and other assets	66,705	66,183
Income tax receivable	0	870
Total current assets	2,413,423	1,441,992
Investment securities available-for-sale, at fair value	970,969	267,419
Loans to bank customers, net of allowance for loan losses of $757 and $1,166 as of December 31, 2020 and 2019, respectively	21,011	21,417
Prepaid expenses and other assets	40,481	10,991
Property, equipment, and internal-use software, net	133,400	145,476
Operating lease right-of-use assets	13,134	26,373
Deferred expenses	18,332	16,891
Net deferred tax assets	12,739	9,037
Goodwill and intangible assets	491,778	520,994
Total assets	4,115,267	2,460,590
Current liabilities:
Accounts payable	34,823	37,876
Deposits	2,735,116	1,175,341
Obligations to customers	95,375	69,377
Settlement obligations	17,759	13,251
Amounts due to card issuing banks for overdrawn accounts	235	380
Other accrued liabilities	145,359	107,842
Operating lease liabilities	8,175	8,764
Deferred revenue	28,584	28,355
Income tax payable	12,146	3,948
Total current liabilities	3,077,572	1,445,134
Other accrued liabilities	4,275	10,883
Operating lease liabilities	16,396	24,445
Line of credit	0	35,000
Net deferred tax liabilities	7,192	17,772
Total liabilities	3,105,435	1,533,234
Commitments and contingencies (Note 21)
Stockholders’ equity:
Class A common stock, $0.001 par value; 100,000 shares authorized as of December 31, 2020 and 2019; 54,034 and 51,807 shares issued and outstanding as of December 31, 2020 and 2019, respectively	54	52
Additional paid-in capital	354,460	296,224
Retained earnings	651,890	629,040
Accumulated other comprehensive income	3,428	2,040
Total stockholders’ equity	1,009,832	927,356
Total liabilities and stockholders’ equity	$ 4,115,267	$ 2,460,590

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Allowance for loan losses	$ 757	$ 1,166
Common stock, par value (in USD per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares, issued (in shares)	54,034,000	51,807,000
Common stock, shares outstanding (in shares)	54,034,000	51,807,000

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating revenues
Interest income, net	$ 14,786	$ 31,941	$ 23,817
Total operating revenues	1,253,760	1,108,595	1,065,575
Operating expenses
Sales and marketing expenses	415,111	386,840	326,333
Compensation and benefits expenses	233,155	198,412	221,627
Processing expenses	293,711	200,674	181,160
Other general and administrative expenses	281,710	199,751	206,040
Total operating expenses	1,223,687	985,677	935,160
Operating income	30,073	122,918	130,415
Interest expense, net	761	1,864	5,046
Other (expense) income, net	(1,217)	27	(1,552)
Income before income taxes	28,095	121,081	123,817
Income tax expense	4,964	21,184	5,114
Net income	$ 23,131	$ 99,897	$ 118,703
Basic earnings per common share (in USD per share)	$ 0.43	$ 1.91	$ 2.27
Diluted earnings per common share (in USD per share)	$ 0.42	$ 1.88	$ 2.18
Basic weighted-average common shares issued and outstanding (in shares)	52,438	52,195	52,222
Diluted weighted-average common shares issued and outstanding (in shares)	53,685	53,138	54,481
Card revenues and other fees
Operating revenues
Operating revenues	$ 593,915	$ 459,357	$ 482,881
Processing and settlement service revenues
Operating revenues
Operating revenues	293,216	287,064	247,958
Interchange revenues
Operating revenues
Operating revenues	$ 351,843	$ 330,233	$ 310,919

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 23,131	$ 99,897	$ 118,703
Other comprehensive income
Unrealized holding gain, net of tax	1,388	2,177	593
Comprehensive income	$ 24,519	$ 102,074	$ 119,296

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Consolidated Statements of Changes in Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Class A Common Stock	Additional Paid-in Capital	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Income (Loss)
Balance at the beginning of the period (in shares) at Dec. 31, 2017			51,136
Balance at the beginning of the period at Dec. 31, 2017	$ 764,550		$ 51	$ 354,789	$ 410,440		$ (730)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued under stock plans, net of withholdings and related tax effects (in shares)			1,781
Common stock issued under stock plans, net of withholdings and related tax effects	(24,127)		$ 2	(24,129)
Stock-based compensation	50,093			50,093
Net income	118,703				118,703
Other comprehensive income	593						593
Balance at the end of the period (in shares) at Dec. 31, 2018			52,917
Balance at the end of the period at Dec. 31, 2018	909,812		$ 53	380,753	529,143		(137)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issued under stock plans, net of withholdings and related tax effects (in shares)			962
Common stock issued under stock plans, net of withholdings and related tax effects	(14,113)		$ 1	(14,114)
Stock-based compensation	29,583			29,583
Repurchases of class A common stock (in shares)			(2,072)
Repurchases of Class A common stock	(100,000)		$ (2)	(99,998)
Net income	99,897				99,897
Other comprehensive income	2,177						2,177
Balance at the end of the period (in shares) at Dec. 31, 2019			51,807
Balance at the end of the period at Dec. 31, 2019	$ 927,356	$ (281)	$ 52	296,224	629,040	$ (281)	2,040
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Common stock issued under stock plans, net of withholdings and related tax effects (in shares)	404		1,252
Common stock issued under stock plans, net of withholdings and related tax effects	$ 4,544		$ 1	4,543
Stock-based compensation	53,694			53,694
Walmart restricted shares (in shares)			975
Walmart restricted shares	0		$ 1	(1)
Net income	23,131				23,131
Other comprehensive income	1,388						1,388
Balance at the end of the period (in shares) at Dec. 31, 2020			54,034
Balance at the end of the period at Dec. 31, 2020	$ 1,009,832		$ 54	$ 354,460	$ 651,890		$ 3,428

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Operating activities [Abstract]
Net income	$ 23,131	$ 99,897	$ 118,703
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization of property, equipment and internal-use software	58,005	49,489	38,581
Amortization of intangible assets	28,119	32,616	32,761
Provision for uncollectible overdrawn accounts from purchase transactions	7,684	6,641	12,442
Stock-based compensation	53,694	29,583	50,093
Losses in equity method investments	6,290	0	0
Realized gain on sale of available-for-sale investment securities	(5,073)	0	0
Amortization of premium (discount) on available-for-sale investment securities	999	(117)	1,042
Change in fair value of contingent consideration	0	(1,866)	3,298
Amortization of deferred financing costs	169	1,334	1,594
Impairment of long-lived assets	21,719	578	922
Deferred income tax (benefit) expense	(15,003)	6,876	(234)
Changes in operating assets and liabilities:
Accounts receivable, net	(16,177)	(25,242)	(18,107)
Prepaid expenses and other assets	980	(12,032)	(9,930)
Deferred expenses	(1,441)	4,310	590
Accounts payable and other accrued liabilities	37,640	(8,145)	12,471
Deferred revenue	576	(6,711)	4,675
Income tax receivable/payable	9,531	11,682	(1,253)
Other, net	(1,665)	1,021	3,403
Net cash provided by operating activities	209,178	189,914	251,051
Investing activities [Abstract]
Purchases of available-for-sale investment securities	(994,428)	(189,066)	(186,884)
Proceeds from maturities of available-for-sale securities	107,723	110,971	60,449
Proceeds from sales of available-for-sale securities	198,895	4,915	78,385
Payments for acquisition of property and equipment	(59,035)	(78,214)	(61,030)
Net changes in loans	(453)	(2,459)	(5,887)
Investment in TailFin Labs, LLC	(35,000)	0	0
Other	(3,534)	0	0
Net cash used in investing activities	(785,832)	(153,853)	(114,967)
Financing activities [Abstract]
Repayments of borrowings from notes payable	0	(60,000)	(22,500)
Borrowings on revolving line of credit	100,000	35,000	0
Repayments on revolving line of credit	(135,000)	0	0
Proceeds from exercise of options and ESPP purchases	16,997	7,226	21,880
Taxes paid related to net share settlement of equity awards	(12,453)	(21,338)	(46,007)
Net changes in deposits	1,554,191	146,100	(16,733)
Net changes in settlement assets and obligations to customers	(512,534)	(66,760)	17,255
Contingent consideration payments	(4,000)	(4,634)	(4,856)
Repurchase of Class A common stock	0	(100,000)	0
Deferred financing costs	0	(719)	0
Net cash provided by (used in) financing activities	1,007,201	(65,125)	(50,961)
Net increase (decrease) in unrestricted cash, cash equivalents and restricted cash	430,547	(29,064)	85,123
Unrestricted cash, cash equivalents and restricted cash, beginning of period	1,066,154	1,095,218	1,010,095
Unrestricted cash, cash equivalents and restricted cash, end of period	1,496,701	1,066,154	1,095,218
Supplemental Cash Flow Information [Abstract]
Cash paid for interest	926	2,452	4,888
Cash paid for income taxes	10,618	1,921	6,233
Total unrestricted cash, cash equivalents and restricted cash, end of period	$ 1,496,701	$ 1,095,218	$ 1,010,095

Organization	12 Months Ended
Organization	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Green Dot Corporation (“we,” “our,” or “us” refer to Green Dot Corporation and its consolidated subsidiaries) is a financial technology and registered bank holding company focused on making modern banking and money movement accessible for all. Our goal is to deliver trusted, best-in-class money management and payment solutions to our customers and partners, seamlessly connecting people to their money. Our proprietary technology enables faster, more efficient electronic payments and money management, powering intuitive and seamless ways for people to spend, send, control and save their money. Through our bank, we offer a suite of financial products to consumers and businesses including debit, prepaid, checking, credit and payroll cards, as well as robust money processing services, tax refunds, cash deposits and disbursements. We were incorporated in Delaware in 1999 and became a bank holding company under the Bank Holding Company Act and a member bank of the Federal Reserve System in December 2011.

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Principles of Consolidation and Basis of Presentation

Our consolidated financial statements include the results of Green Dot Corporation and our wholly-owned subsidiaries. We prepared the accompanying consolidated financial statements in accordance with generally accepted accounting principles in the United States of America, or U.S. GAAP. We eliminate all significant intercompany balances and transactions on consolidation. We include the results of operations of acquired companies from the date of acquisition.

Use of Estimates and Assumptions

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Future events and their effects cannot be predicted with certainty; accordingly, accounting estimates require the exercise of judgment. These financial statements were prepared using information reasonably available as of December 31, 2020 and through the date of this report. The accounting estimates used in the preparation of the Company’s consolidated financial statements may change as new events occur, as more experience is acquired, as additional information is obtained and as the Company’s operating environment changes. Actual results may differ from these estimates due to the uncertainty around the magnitude, duration and effects of the COVID-19 pandemic, as well as other factors.

Unrestricted Cash and Cash Equivalents

We consider all unrestricted highly liquid investments with an original maturity of three months or less to be unrestricted cash and cash equivalents.

Investment Securities

Our investment portfolio is primarily comprised of fixed income securities. We classify these securities as available-for-sale and report them at fair value with the related unrealized gains and losses, net of tax, included in accumulated other comprehensive income or loss, unless credit related. We establish an allowance for credit losses limited by the amount that the fair value of the investment is less than its amortized cost. If the impairment of the investment security is credit-related, the impairment is recorded in earnings with any subsequent improvements in credit recognized through a reversal of the allowance established. Non-credit related impairment is recorded in accumulated other comprehensive income or loss, a component of stockholders' equity. We classify investment securities with maturities less than or equal to 365 days as current assets.

We regularly evaluate each fixed income security where the value has declined below amortized cost to assess whether the decline in fair value is credit or non-credit related. In determining whether an impairment is credit related or not, we consider the extent of the decline in fair value compared to the security's amortized cost, the presence of adverse conditions such as the financial condition of the issuer, the payment structure of the security, credit rating changes and other qualitative factors, as well as whether we either plan to sell the security or it is more likely-than-not that we will be required to sell the security before recovery of its amortized cost. If we intend to sell an investment security or believe we will more-likely-than-not be required to sell a security, we record the full amount of the impairment in earnings.

Note 2—Summary of Significant Accounting Policies (continued)

Interest on fixed income securities, including amortization of premiums and accretion of discounts, is included in interest income.

Obligations to Customers and Settlement Assets and Obligations

At the point of sale, our retail distributors collect customer funds for purchases of new cards and balance reloads and then remit these funds directly to the banks that issue our cards. Our retail distributors’ remittance of these funds takes an average of two business days.

Settlement assets represent the amounts due from our retail distributors and other partners for customer funds collected at the point of sale that have not yet been received by our subsidiary bank. Also included in this balance are payroll amounts funded in advance (up to two days early) to certain cardholders who are eligible to participate in our early direct deposit programs. Obligations to customers represent customer funds collected from (or to be remitted by) our retail distributors for which the underlying products have not been activated. Once the underlying products have been activated, the customer funds are reclassified as deposits in a bank account established for the benefit of the customer. Settlement obligations represent the customer funds received by our subsidiary bank that are due to third-party card issuing banks upon activation.

Accounts Receivable, net

Accounts receivable is comprised principally of trade accounts receivable, receivables due from card issuing banks, overdrawn account balances due from cardholders, fee advances and other receivables. We record accounts receivable net of reserves for estimated uncollectible accounts. Receivables due from card issuing banks primarily represent revenue-related funds held at the third-party card issuing banks related to our network branded programs that have yet to be remitted to us. These receivables are generally collected within a short period of time based on the remittance terms in our agreements with the third-party card issuing banks. Fee advances represent short-term advances to in-person tax return preparation companies made prior to and during tax season. These advances are collateralized by their clients' tax preparation fees and are generally collected within a short period of time as the in-person tax preparation companies begin preparing and processing their clients' tax refunds.

Overdrawn Account Balances Due from Cardholders and Reserve for Uncollectible Overdrawn Accounts

Our cardholder accounts may become overdrawn as a result of maintenance fee assessments or from purchase transactions that we honor, in excess of the funds in a cardholder’s account. We are exposed to losses from any unrecovered overdrawn account balances. Reserves for overdrawn account balances from purchase transactions are included as a component of other general and administrative expenses on our consolidated statements of operations. Overdrawn cardholder balances from maintenance fee assessments are presented net of the consideration we expect to receive under ASC 606, Revenue from Contracts with Customers, and are recorded as contra-revenue within card revenues and other fees.

We classify overdrawn accounts from purchase transactions into age groups based on the number of days that have elapsed since an account last had activity, such as a purchase, ATM transaction or fee assessment. We calculate a reserve factor for each age group based on the average recovery rate for the most recent six months. These factors are applied to these age groups to estimate our overall expected loss reserve. When more than 90 days have passed without activity in an account, we write off the full amount of the overdrawn account balance.

Restricted Cash

As of December 31, 2020 and 2019, restricted cash amounted to $4.9 million and $2.7 million, respectively. Restricted cash principally relates to pre-funding obligations for cardholder accounts at third-party issuing banks.

Note 2—Summary of Significant Accounting Policies (continued)

Loans to Bank Customers

We report loans measured at historical cost at their outstanding principal balances, net of any charge-offs, and for purchased loans, net of any unaccreted discounts. We recognize interest income as it is earned.

Nonperforming Loans

Nonperforming loans generally include loans that have been placed on nonaccrual status. We generally place loans and secured credit cards on nonaccrual status when they are past due 90 days or more. We reverse the related accrued interest receivable and apply interest collections on nonaccrual loans as principal reductions; otherwise, we credit such collections to interest income when received. These loans may be restored to accrual status when all principal and interest is current and full repayment of the remaining contractual principal and interest is expected. For our secured credit card portfolio, when an account is past due 90 days, collateral deposits are applied against outstanding credit card balances. Any balance, inclusive of principal and interest in excess of the collateral balance is charged off at 180 days.

We consider a loan to be impaired when it is probable that we will be unable to collect all amounts due according to the contractual terms of the loan agreement. Once we determine a loan to be impaired, we measure the impairment based on the present value of the expected future cash flows discounted at the loan's effective interest rate. We may also measure impairment based on observable market prices, or for loans that are solely dependent on the collateral for repayment, the estimated fair value of the collateral less estimated costs to sell. If the recorded investment in impaired loans exceeds this amount, we establish a specific allowance as a component of the allowance for loan losses or by adjusting an existing valuation allowance for the impaired loan.

Allowance for Credit Losses

We establish an allowance for estimated credit losses inherent in our loan portfolio over the life of the loans, including our secured credit cards. For each portfolio of loans, our estimate of expected losses is separately calculated on an aggregated basis for pools of loans that exhibit similar credit characteristics and risk of loss. We analyze historical loss rates for these groups to determine a loss rate for each group of loans, and consider if adjustments are needed for current conditions, and other reasonable and supportable forecasts beyond our balance sheet date that may differ from historical results. We also consider adjustments based on qualitative factors which in our judgment may affect the expected credit losses. Qualitative considerations include, but are not limited to, changes in prevailing economic or market conditions, the loan grading and underwriting process, the borrower's credit rating or credit score, the estimated value of the underlying collateral for collateral dependent loans, the volume and severity of delinquent and nonaccrual loans, problem loan trends, legal and regulatory requirements, collection and lending practices, and geographic or other concentrations of credit risk. We separately establish specific allowances for impaired loans based on the present value of changes in cash flows expected to be collected, or for impaired loans that are considered collateral dependent, the estimated fair value of the collateral less estimated costs to sell, if any.

Property and Equipment

We carry our property and equipment at cost less accumulated depreciation and amortization. We generally compute depreciation on property and equipment using the straight-line method over the estimated useful lives of the assets, except for land, which is not depreciated. We generally compute amortization on tenant improvements using the straight-line method over the shorter of the related lease term or estimated useful lives of the improvements. We expense expenditures for maintenance and repairs as incurred.

We capitalize certain internal and external costs incurred to develop internal-use software during the application development stage. We also capitalize the cost of specified upgrades and enhancements to internal-use software that result in additional functionality. Once a development project is substantially complete and the software is ready for its intended use, we begin depreciating these costs on a straight-line basis over the internal-use software’s estimated useful life.

Note 2—Summary of Significant Accounting Policies (continued)

The estimated useful lives of the respective classes of assets are as follows:


Land			N/A
Building			30 years
Computer equipment, furniture and office equipment			3-10 years
Computer software purchased			3 years
Capitalized internal-use software			3-7 years
Tenant improvements			Shorter of the useful life or the lease term

Leases

We determine if an arrangement is or contains a lease at inception of the agreement. Right-of-use (ROU) assets and liabilities are recognized at the lease commencement date based on the present value of remaining lease payments over the lease term. For this purpose, we consider only fixed payments stated in the leases at the time of commencement. Variable lease payments that are not based on a specified rate or index are expensed when incurred. Since an implicit interest rate for our leases generally cannot be determined under our contracts, we use an incremental borrowing rate based on the information available to us at the commencement date in determining the present value of our lease payments. Our incremental borrowing rate is based on a variety of considerations, including borrowing rates currently available to us for loans with similar terms and market participant information based on credit spreads for issuers of similar risk and credit rating.

The ROU asset also reflects any lease payments made prior to commencement and is recorded net of any lease incentives received. Our ROU asset and liability reflects, as applicable, options to extend or terminate a lease when it is reasonably certain that we will exercise such options. We exclude all leases with an initial term of 12 months or less under the short term lease exemption. We have also made a policy election to combine our lease and non-lease components for each of our existing classes of leased assets. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. Lease expense is recognized on a straight-line basis over the lease term.

Impairment of Long-Lived Assets

We evaluate long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of expected undiscounted future cash flows from an asset is less than the carrying amount of the asset, we estimate the fair value of the assets. We measure the loss as the amount by which the carrying amount exceeds its fair value calculated using the present value of estimated net future cash flows. We recorded total impairment charges of $21.7 million, $0.6 million and $0.9 million for the years ended December 31, 2020, 2019 and 2018, respectively. Impairment charges for the year ended December 31, 2020 were principally associated with capitalized internal-use software, and our operating lease right-of-use assets and other tenant improvements we determined to no longer be utilized as a result of our remote workforce strategy. These impairment charges are included in other general and administrative expenses in our consolidated statements of operations.

Goodwill and Intangible Assets

Goodwill is the purchase premium after adjusting for the fair value of net assets acquired. Goodwill is not amortized but is reviewed for potential impairment on an annual basis, or when events or circumstances indicate a potential impairment, at the reporting unit level. A reporting unit, as defined under applicable accounting guidance, is an operating segment or one level below an operating segment, referred to as a component. We first assess qualitative factors to determine whether it is more likely-than-not (i.e., a likelihood of more than 50 percent) that the fair value of a reporting unit is less than its carrying value. This step serves as the basis for determining whether it is necessary to perform the quantitative impairment test. If it is more likely-than-not goodwill is impaired, a quantitative impairment test compares the estimated fair value of each reporting unit to its carrying amount, including goodwill. If the estimated fair value of the reporting unit exceeds its carrying amount, goodwill of the reporting unit is not impaired; however, if the carrying amount of the reporting unit exceeds its estimated fair value, the difference is recorded as an impairment loss directly to goodwill. We may in any given period bypass the qualitative assessment and proceed directly to a quantitative method to assess and measure impairment of the reporting unit's goodwill.

Note 2—Summary of Significant Accounting Policies (continued)

For intangible assets subject to amortization, we recognize an impairment loss if the carrying amount of the intangible asset is not recoverable and exceeds its estimated fair value. The carrying amount of the intangible asset is considered not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use of the asset.

No impairment charges were recognized related to goodwill or intangible assets for the years ended December 31, 2020, 2019 and 2018.

Intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives, which is our best estimate of the pattern of economic benefit, based on legal, contractual, and other provisions. The estimated useful lives of the intangible assets, which consist primarily of customer relationships and trade names, range from 3-15 years.

Amounts Due to Card Issuing Banks for Overdrawn Accounts

Third-party card issuing banks fund overdrawn cardholder account balances on our behalf. Amounts funded are due from us to the card issuing banks based on terms specified in the agreements with the card issuing banks. Generally, we expect to settle these obligations within two months.

Fair Value

Under applicable accounting guidance, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability. As such, fair value reflects an exit price in an orderly transaction between market participants on the measurement date.

We determine the fair values of our financial instruments based on the fair value hierarchy established under applicable accounting guidance, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The following describes the three-level hierarchy:

Level 1 – Unadjusted quoted prices in active markets for identical assets or liabilities. Level 1 assets and liabilities include debt and equity securities and derivative contracts that are traded in an active exchange market, as well as certain U.S. Treasury securities that are highly liquid and are actively traded in over-the-counter markets.

Level 2 – Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 2 assets and liabilities include fixed income securities with quoted prices that are traded less frequently than exchange-traded instruments. This category generally includes U.S. government and agency mortgage-backed fixed income securities and corporate fixed income securities.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the overall fair value of the assets or liabilities. Level 3 assets and liabilities include financial instruments for which the determination of fair value requires significant management judgment or estimation. The fair value for such assets and liabilities is generally determined using pricing models, market comparables, discounted cash flow methodologies or similar techniques that incorporate the assumptions a market participant would use in pricing the asset or liability. This category generally includes certain private equity investments and certain asset-backed securities.

Revenue Recognition

Our operating revenues consist of card revenues and other fees, processing and settlement service revenues and interchange revenues. The core principle of the revenue standard is that these revenues will be recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for those goods or services, as determined under a five-step process.

Note 2—Summary of Significant Accounting Policies (continued)

A description of our principal revenue generating activities is as follows:

Card Revenues and Other Fees

Card revenues and other fees consist of monthly maintenance fees, new card fees, ATM fees, and other card revenues. We earn these fees based upon the underlying terms and conditions with each of our cardholders that obligate us to stand ready to provide account services to each of our cardholders over the contract term. Agreements with our cardholders are considered daily service contracts as they are not fixed in duration. Also included in card revenues and other fees are program management service fees earned from our BaaS partners for cardholder programs we manage on their behalf.

We charge maintenance fees on a monthly basis pursuant to the terms and conditions in the applicable cardholder agreements. We recognize monthly maintenance fees ratably over each day in the monthly bill cycle in which the fee is assessed, which represents the period our cardholders receive the benefits of our services and our performance obligation is satisfied.

We charge new card fees when a consumer purchases a new card in a retail store. The new card fee provides our cardholders a material right and accordingly, we defer and recognize new card fee revenues on a straight-line basis over our average card lifetime, which is currently less than one year for our GPR cards and gift cards. For GPR cards, average card lifetime is determined based on recent historical data using the period from sale (or activation) of the card through the date of last positive balance. We reassess average card lifetime for GPR cards quarterly and gift cards annually. We report the unearned portion of new card fees as a component of deferred revenue in our consolidated balance sheets. See Contract Balances discussed in Note 3 — Revenues, for further information.

We charge ATM fees to cardholders when they withdraw money at certain ATMs in accordance with the terms and conditions in our cardholder agreements. We recognize ATM fees when the withdrawal is made by the cardholder, which is the point in time our performance obligation is satisfied and service is performed. Since our cardholder agreements are considered daily service contracts, our performance obligations for these types of transactional based fees are satisfied on a daily basis, or as each transaction occurs.

Other revenues consist primarily of revenue associated with our gift card program, transaction-based fees and fees associated with optional products or services, which we offer our cardholders at their election. Since our performance obligations are settled daily, we recognize most of these fees at the point in time the transactions occur which is when the underlying performance obligation is satisfied. In the case of our gift card program, we record the related revenues using the redemption method.

We also offer cash-back rewards to cardholders on certain programs. The amount of these cash rewards varies based on multiple factors, including the terms and conditions for cardholder eligibility, the redemption amount based on cardholder activity, and the cardholder redemption rates. We accrue our estimated cash-back rewards as a component of other accrued liabilities on our consolidated balance sheets and as a reduction to card revenues and other fees on our consolidated statements of operations.

Substantially all our fees are collected from our cardholders at the time the fees are assessed and debited from their account balance.

Program management fees from our BaaS partners are generally earned over time on a monthly basis, pursuant to the terms of each program management agreement. Our agreements are generally multi-year arrangements of varying lengths. We recognize these fees as our program management services are rendered each month.

Processing and Settlement Service Revenues

Our processing and settlement services consist of cash transfer revenues, Simply Paid disbursement revenues, and tax refund processing service revenues.

We generate cash transfer revenues when consumers purchase our cash transfer products (reload services) in a retail store. Our reload services are subject to the same terms and conditions in each of the applicable cardholder agreements as discussed above. We recognize these revenues at the point in time the reload services are completed. Similarly, we earn Simply Paid disbursement fees from our business partners as payment disbursements are made.

Note 2—Summary of Significant Accounting Policies (continued)

We earn tax refund processing service revenues when a customer of a third-party tax preparation company chooses to pay their tax preparation fee through the use of our tax refund processing services. Revenues we earn from these services are generated from our contractual relationships with the tax software transmitters. These contracts may be multi-year agreements and vary in length, however, our underlying promise obligates us to process each refund transfer on a transaction by transaction basis as elected by the taxpayer. Accordingly, we recognize tax refund processing service revenues at the point in time we satisfy our performance obligation by remitting each taxpayer’s proceeds from his or her tax return.

Interchange

We earn interchange revenues from fees remitted by the merchant’s bank, which are based on rates established by the payment networks, such as Visa and MasterCard, when account holders make purchase transactions using our card products and services. We recognize interchange revenues at the point in time the transactions occur, as our performance obligation is satisfied.

Principal vs Agent

For all our significant revenue-generating arrangements, we record revenues on a gross basis except for our tax refund processing service revenues which are recorded on a net basis.

Sales and Marketing Expenses

Sales and marketing expenses primarily consist of sales commissions, advertising and marketing expenses, and the costs of manufacturing and distributing card packages, placards, promotional materials to our retail distributors’ locations and personalized GPR cards to consumers who have activated their cards.

We pay our retail distributors, and brokers' commissions based on sales of our prepaid debit cards and cash transfer products in their stores. We defer and expense commissions related to new cards sales ratably over the average card lifetime, which is currently less than one year for our retail GPR and gift cards. Absent a new card fee, we recognize the cost of the related commissions immediately. We recognize the cost of commissions related to cash transfer products when the cash transfer transactions are completed. We recognize costs for the production of advertising as incurred. The cost of media advertising is recorded when the advertising first takes place. We record the costs associated with card packages and placards as prepaid expenses, and we record the costs associated with personalized GPR cards as deferred expenses. We recognize the prepaid cost of card packages and placards over the related sales period, and we amortize the deferred cost of personalized GPR cards, when activated, over the average card lifetime.

Included in sales and marketing expenses are advertising and marketing expenses of $37.5 million, $51.1 million and $23.2 million and shipping and handling costs of $1.5 million, $1.5 million and $2.0 million for the years ended December 31, 2020, 2019 and 2018, respectively. Also included in sales and marketing expenses are use taxes to various states related to purchases of materials since we do not charge sales tax to customers when new cards or cash transfer transactions are purchased.

Stock-Based Compensation

We record employee stock-based compensation expense based on the grant-date fair value of the award. For stock options and stock purchases under our employee stock purchase plan, or ESPP, we base compensation expense on fair values estimated at the grant date using the Black-Scholes option-pricing model. For stock awards, including restricted stock units, we base compensation expense on the fair value of our common stock at the grant date. We recognize compensation expense for awards with only service conditions that have graded vesting schedules on a straight-line basis over the vesting period of the award. Vesting is based upon continued service to our company and we account for any forfeitures as they occur.

We have issued performance-based restricted stock units to our executive officers and employees that are subject to performance conditions, market conditions, or a combination thereof. For awards subject to performance conditions, we determine the grant-date fair value of the stock and recognize compensation cost for the restricted stock units if and when we conclude it is probable that the performance metrics will be satisfied, over the requisite service period. The grant-date fair value of the awards are not subsequently remeasured, however, we reassess the probability of vesting at each reporting period and record a cumulative adjustment to compensation expense based on the likelihood the performance metrics will be achieved. For awards with market conditions, we base compensation expense on the fair value estimated at the date of grant using a Monte Carlo simulation or similar

Note 2—Summary of Significant Accounting Policies (continued)

lattice model. We recognize compensation expense over the requisite service period regardless of the market condition being satisfied, provided that the requisite service has been rendered, since the estimated grant date fair value incorporates the probability of outcomes that the market condition will be achieved.

Under our retirement policy, any service-based requirement for unvested stock awards held by a retirement eligible employee is eliminated. Accordingly, the related compensation expense is recognized immediately for qualifying awards granted to eligible employees, or in the case of ineligible employees who later become eligible under the retirement policy, over the period from the grant date to the date a qualifying retirement is achieved, if earlier than the standard vesting dates. Performance-based restricted stock units issued to retirement eligible employees remain subject to the stock awards’ annual performance targets and the expense is adjusted accordingly based on expected achievement.

We measure the fair value of equity instruments issued to non-employees based on the grant-date fair value, and recognize the related expense in the same periods that the goods or services are received.

Income Taxes

Our income tax expense is comprised of current and deferred income tax expense. Current income tax expense approximates taxes to be paid or refunded for the current period. Deferred income tax expense results from the changes in deferred tax assets and liabilities during the periods. These gross deferred tax assets and liabilities represent decreases or increases in taxes expected to be paid in the future because of future reversals of temporary differences between the basis of assets and liabilities as measured by tax laws and their basis as reported in our consolidated financial statements. We also recognize deferred tax assets for tax attributes such as net operating loss carryforwards and tax credit carryforwards. We record valuation allowances to reduce deferred tax assets to the amounts we conclude are more likely-than-not to be realized in the foreseeable future.

We recognize and measure income tax benefits based upon a two-step model: 1) a tax position must be more likely-than-not to be sustained based solely on its technical merits in order to be recognized, and 2) the benefit is measured as the largest dollar amount of that position that is more likely-than-not to be sustained upon settlement. The difference between the benefit recognized for a position and the tax benefit claimed on a tax return is referred to as an unrecognized tax benefit. We accrue income tax related interest and penalties, if applicable, within income tax expense.

Earnings Per Common Share

We apply the two-class method in calculating earnings per common share, or EPS, because we have certain unvested restricted shares outstanding that are entitled to participate with our common stockholders in the distributions of earnings based on their dividend rights. The two-class method requires net income to be allocated between each class or series of common stock and other participating securities based on their respective rights to receive dividends, whether or not declared. Basic EPS is then calculated by dividing net income allocated to each class of common stockholders by the respective weighted-average common shares issued and outstanding.

Diluted EPS is calculated by dividing adjusted net income for each class of common stock by the respective weighted-average number of the common shares issued and outstanding for each period plus amounts representing the dilutive effect of outstanding stock options, restricted stock units (including performance based restricted stock units), shares to be purchased under our employee stock purchase plan and participating unvested restricted shares. We calculate dilutive potential common shares using the treasury stock method and the two-class method, as applicable. We exclude the effects of such equity instruments from the computation of diluted EPS in periods in which the effect would be anti-dilutive. Additionally, we exclude any performance-based restricted stock units and performance-based stock options for which the performance contingency has not been met as of the end of the period.

Regulatory Matters and Capital Adequacy

As a bank holding company, we are subject to comprehensive supervision and examination by the Federal Reserve Board and must comply with applicable regulations, including minimum capital and leverage requirements. If we fail to comply with any of these requirements, we may become subject to formal or informal enforcement actions, proceedings, or investigations, which could result in regulatory orders, restrictions on our business operations or requirements to take corrective actions, which may, individually or in the aggregate, affect our results of operations and restrict our ability to grow. If we fail to comply with the applicable capital and leverage

Note 2—Summary of Significant Accounting Policies (continued)

requirements, or if our subsidiary bank fails to comply with its applicable capital and leverage requirements, the Federal Reserve Board may limit our or Green Dot Bank's ability to pay dividends. In addition, as a bank holding company and a financial holding company, we are generally prohibited from engaging, directly or indirectly, in any activities other than those permissible for bank holding companies and financial holding companies. This restriction might limit our ability to pursue future business opportunities which we might otherwise consider but which might fall outside the scope of permissible activities. We may also be required to serve as a “source of strength” to Green Dot Bank if it becomes less than adequately capitalized.

Recent Accounting Pronouncements

Recently issued accounting pronouncements not yet adopted

ASU No. 2020-06

In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40) (“ASU 2020-06”), which simplifies an issuer’s accounting for convertible instruments and its application of the derivatives scope exception for contracts in its own equity. ASU 2020-06 is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years. We are currently evaluating the provisions of ASU 2020-06, but do not expect any material impact on our consolidated financial statements.

ASU No. 2020-04

In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848) ("ASU 2020-04"), which provides optional expedients and exceptions to GAAP requirements for modifications of debt instruments, leases, derivatives and other transactions that reference the London Interbank Offered Rate ("LIBOR") or another reference rate expected to be discontinued because of reference rate reform. The guidance permits entities to treat such modifications as the continuation of the original contract, without any required accounting reassessments or remeasurements. The amendments in ASU 2020-04 were effective upon issuance and may be elected over time through December 31, 2022, as reference rate reform activities occur. Upon adoption, the guidance must be applied prospectively for all eligible contract modifications. We continue to monitor the impact of ASU 2020-04 as reference rate reform continues to develop, however, do not expect any material impact on our consolidated financial statements as our revolving line of credit is based on variable rates available that we elect at the time of borrowing. See Note 11 - Debt, to these consolidated financial statements for additional information.

Recently adopted accounting pronouncements

ASU No. 2019-12

In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which simplifies the accounting for income taxes by removing certain exceptions and improves consistent application of Topic 740. ASU 2019-12 is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. We adopted ASU 2019-12 on January 1, 2021, the results of which did not have a material impact on our consolidated financial statements.

ASU No. 2016-13

In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments ("ASU 2016-13") that requires financial assets measured at amortized cost be presented at the net amount expected to be collected. Credit losses on available-for-sale debt securities should be recorded through an allowance for credit losses limited by the amount that the fair value is less than amortized cost. The amendments under ASU 2016-13 eliminated the probable incurred loss recognition model under GAAP and introduced a forward-looking approach, based on expected losses, to estimate credit losses on certain types of financial instruments. The estimate of expected credit losses requires entities to incorporate considerations of historical information, current information, and reasonable and supportable forecasts. The ASU also expanded the disclosure requirements to enable users of financial statements to understand the entity’s assumptions, models, and methods for estimating expected credit losses.

We adopted ASU 2016-13 using the modified retrospective method for all financial assets measured at amortized cost. Results for periods after January 1, 2020 are presented under ASU 2016-13 while prior period amounts continue to be reported under previously applicable accounting standards. The adoption of ASU 2016-13

Note 2—Summary of Significant Accounting Policies (continued)

resulted in an adjustment of approximately $0.3 million, net of tax, to beginning retained earnings, the effect of which we do not consider material to our consolidated financial statements.

Most of our financial assets within the scope of ASU 2016-13 are considered highly short-term in nature and therefore, we are less susceptible to risks and uncertainty of credit losses over extended periods of time. The adoption of ASU 2016-13 did not result in any material changes to our methods for developing our allowance for credit losses, or the information we assess in developing our current estimate of expected credit losses. See Notes 4, 5 and 6 to these consolidated financial statements for additional information on our financial assets within scope of the new accounting standard.

ASU No. 2017-14

In January 2017, the FASB issued ASU No. 2017-04, Intangibles - Goodwill and Other ("ASU 2017-04"): Simplifying the Test for Goodwill Impairment, which simplified the existing two-step guidance for goodwill impairment testing by eliminating the second step resulting in a write-down to goodwill equal to the initial amount of impairment determined in step one. We adopted the provisions of ASU 2017-04 on January 1, 2020, the effect of which did not have a material impact on our consolidated financial statements.

Revenues

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenues

Disaggregation of Revenues

Our products and services are offered only to customers within the United States. We determine our operating segments based on how our chief operating decision maker manages our operations, makes operating decisions and evaluates operating performance. Within our segments, we believe that the nature, amount, timing and uncertainty of our revenue and cash flows and how they are affected by economic factors can be further illustrated based on the timing in which revenue for each of our products and services is recognized.

The following table disaggregates our revenues by the timing in which the revenue is recognized:


	Year Ended December 31, 2020				Year Ended December 31, 2019				Year Ended December 31, 2018
	Account Services		Processing and Settlement Services		Account Services		Processing and Settlement Services		Account Services		Processing and Settlement Services
Timing of recognition	(In thousands)
Transferred point in time	$	482,553	$	293,216	$	489,696	$	287,052	$	500,629	$	247,942
Transferred over time	458,543		4,662		293,500		6,406		289,714		3,473
Operating revenues (1)	$	941,096	$	297,878	$	783,196	$	293,458	$	790,343	$	251,415


(1)			Excludes net interest income, a component of total operating revenues, as it remains outside the scope of ASC 606, Revenues

Within our Account Services segment, revenues recognized at a point in time are comprised of ATM fees, interchange, and other similar transaction-based fees. Revenues recognized over time consists of new card fees, monthly maintenance fees, revenue earned from gift cards and substantially all BaaS partner program management fees. Substantially all of our processing and settlement services are recognized at a point in time.

Refer to Note 24 — Segment Information for our revenues disaggregated by our products and services and the components to our total operating revenues on our consolidated statements of operations for additional information.

Significant Judgments and Estimates

Transaction prices related to our account cardholder services are based on stand-alone fees stated within the terms and conditions and may also include certain elements of variable consideration depending upon the product’s features, such as cash-back rewards and reserves on accounts that may become overdrawn. We estimate such amounts using historical data and customer behavior patterns to determine these estimates which are recorded as a reduction to the corresponding fee revenue. Additionally, while the number of transactions that a cardholder may perform is unknown, any uncertainty is resolved at the end of each daily service contract.

Note 3—Revenues (continued)

Contract Balances

As disclosed on our consolidated balance sheets, we record deferred revenue for any upfront payments received in advance of our performance obligations being satisfied. These contract liabilities consist principally of unearned new card fees and monthly maintenance fees. We recognized approximately $25.9 million, $31.8 million and $28.7 million for the years ended December 31, 2020, 2019, and 2018, or substantially all of the amount of contract liabilities included in deferred revenue at the beginning of the respective periods and did not recognize any revenue during these periods from performance obligations satisfied in previous periods. Changes in the deferred revenue balance are driven primarily by the amount of new card fees recognized during the period, and the degree to which these reductions to the deferred revenue balance are offset by the deferral of new card fees associated with cards sold during the period.

Costs to Obtain or Fulfill a Contract

Our incremental direct costs of obtaining a contract consist primarily of revenue share payments we make to our retail partners associated with new card sales. These commissions are generally capitalized upon payment and expensed over the period the corresponding revenue is recognized. These deferred commissions are not material and are included in deferred expenses on our consolidated balance sheets.

Practical Expedients and Exemptions

Any unsatisfied performance obligations at the end of the period relate to contracts with customers that either have an original expected length of one year or less or are contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed. Therefore, no additional disclosure is provided for these performance obligations.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Investment Securities

12 Months Ended

Dec. 31, 2020

Investment Securities [Abstract]

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, 2020
Corporate bonds	$	10,000	$	110	$	—	$	10,110


Agency bond securities	235,839		31		(1,713)		234,157
Agency mortgage-backed securities	686,108		5,258		(337)		691,029
Municipal bonds	29,977		524		—		30,501
Asset-backed securities	4,917		255		—		5,172
Total investment securities	$	966,841	$	6,178	$	(2,050)	$	970,969

December 31, 2019
Corporate bonds	$	10,000	$	12	$	—	$	10,012



Agency bond securities	19,980		20		—		20,000
Agency mortgage-backed securities	208,821		2,453		(241)		211,033
Municipal bonds	4,342		2		(2)		4,342
Asset-backed securities	31,814		238		—		32,052
Total investment securities	$	274,957	$	2,725	$	(243)	$	277,439

Note 4—Investment Securities (continued)

As of December 31, 2020 and 2019, 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 loss
	Fair value		Unrealized loss		Fair value		Unrealized loss
	(In thousands)
December 31, 2020

Agency bond securities	$	189,127	$	(1,713)	$	—	$	—	$	189,127	$	(1,713)
Agency mortgage-backed securities	162,579		(337)		—		—		162,579		(337)


Total investment securities	$	351,706	$	(2,050)	$	—	$	—	$	351,706	$	(2,050)

December 31, 2019




Agency mortgage-backed securities	$	43,337	$	(153)	$	8,735	$	(88)	$	52,072	$	(241)
Municipal bonds	—		—		113		(2)		113		(2)

Total investment securities	$	43,337	$	(153)	$	8,848	$	(90)	$	52,185	$	(243)

Our investments generally consist of highly rated securities, as our investment policy restricts our investments to highly liquid, low credit risk assets. We did not record any significant credit-related impairment losses during the years ended December 31, 2020 or 2019 on our available-for-sale investment securities. As of December 31, 2020, we have performed an evaluation of our allowance for credit losses and have determined that such an allowance is not material to our available-for-sale investment portfolio as the vast majority of our investment securities are issued by government-sponsored entities.

We do not intend to sell our investments and we have determined that it is more likely than not that we will not be required to sell our investments before recovery of their amortized cost bases, which may be at maturity.

During the year ended December 31, 2020, we recorded a realized gain of approximately $5.1 million as a result of the sale of certain investment securities. The gain recognized upon sale of the investments was reclassified from accumulated other comprehensive income and is recorded as a component of other income and expenses on our consolidated statements of operations.

As of December 31, 2020, the contractual maturities of our available-for-sale investment securities were as follows:


	Amortized cost		Fair value
	(In thousands)

Due after one year through five years	$	10,000	$	10,110
Due after five years through ten years	190,839		189,478
Due after ten years	74,977		75,180
Mortgage and asset-backed securities	691,025		696,201
Total investment securities	$	966,841	$	970,969

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.

Accounts Receivable

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Accounts Receivable

Accounts receivable, net consisted of the following:


	December 31, 2020		December 31, 2019
	(In thousands)
Trade receivables	$	25,279	$	14,512
Reserve for uncollectible trade receivables	(315)		(202)
Net trade receivables	24,964		14,310

Overdrawn cardholder balances from purchase transactions	3,229		4,327
Reserve for uncollectible overdrawn accounts from purchase transactions	(1,653)		(3,398)
Net overdrawn cardholder balances from purchase transactions	1,576		929
Overdrawn cardholder balances from maintenance fees	3,165		2,235
Total net overdrawn account balances due from cardholders	4,741		3,164

Receivables due from card issuing banks	4,377		5,758
Fee advances, net	21,424		26,268
Other receivables	12,249		10,043
Accounts receivable, net	$	67,755	$	59,543

Activity in the reserve for uncollectible overdrawn accounts from purchase transactions consisted of the following:


	Year Ended December 31,
	2020		2019		2018
	(In thousands)
Balance, beginning of period	$	3,398	$	2,710	$	3,333
Provision for uncollectible overdrawn accounts from purchase transactions	7,684		6,641		12,442
Charge-offs	(9,429)		(5,953)		(13,065)
Balance, end of period	$	1,653	$	3,398	$	2,710

Loans to Bank Customers

12 Months Ended

Dec. 31, 2020

Loans and Leases Receivable Disclosure [Abstract]

Loans to Bank Customers

The following table presents total outstanding loans, gross of the related allowance for loan losses, and a summary of the related payment status:


	30-59 Days Past Due			60-89 Days Past Due			90 Days or More Past Due			Total Past Due			Total Current or Less Than 30 Days Past Due			Total Outstanding
	(In thousands)
December 31, 2020
Residential	$	—		$	—		$	—		$	—		$	3,008		$	3,008
Commercial	—			—			—			—			3,435			3,435
Installment	—			—			—			—			497			497
Secured credit card	864			699			1,363			2,926			11,902			14,828
Total loans	$	864		$	699		$	1,363		$	2,926		$	18,842		$	21,768

Percentage of outstanding	4.0		%	3.2		%	6.3		%	13.4		%	86.6		%	100.0		%

December 31, 2019
Residential	$	1		$	—		$	—		$	1		$	4,530		$	4,531
Commercial	—			—			—			—			158			158
Installment	1			—			—			1			1,246			1,247
Secured credit card	1,080			939			2,183			4,202			12,445			16,647
Total loans	$	1,082		$	939		$	2,183		$	4,204		$	18,379		$	22,583

Percentage of outstanding	4.8		%	4.2		%	9.7		%	18.6		%	81.4		%	100.0		%

Note 6—Loans to Bank Customers (continued)

Nonperforming Loans

The following table presents the carrying value, gross of the related allowance for loan losses, of our nonperforming loans. See Note 2 — Summary of Significant Accounting Policies for further information on the criteria for classification as nonperforming.


	December 31, 2020		December 31, 2019
	(In thousands)
Residential	$	240	$	290
Installment	137		147
Secured credit card	1,363		2,183
Total loans	$	1,740	$	2,620

Credit Quality Indicators

We closely monitor and assess the credit quality and credit risk of our loan portfolio on an ongoing basis. We continuously review and update loan risk classifications. We evaluate our loans using non-classified or classified as the primary credit quality indicator. Classified loans are those loans that have demonstrated credit weakness where we believe there is a heightened risk of principal loss, including all impaired loans. Classified loans include those designated as substandard, doubtful, or loss, consistent with regulatory guidelines. Secured credit card loans are considered classified if they are greater than 90 days past due. However, our secured credit card portfolio is collateralized by cash deposits made by each cardholder in an amount equal to the user's available credit limit, which mitigates the risk of any significant credit losses we expect to incur.

The table below presents the carrying value, gross of the related allowance for loan losses, of our loans within the primary credit quality indicators related to our loan portfolio:


	December 31, 2020				December 31, 2019
	Non-Classified		Classified		Non-Classified		Classified
	(In thousands)
Residential	$	2,768	$	240	$	4,241	$	290
Commercial	3,435		—		158		—
Installment	360		137		1,058		189
Secured credit card	13,465		1,363		14,464		2,183
Total loans	$	20,028	$	1,740	$	19,921	$	2,662

Impaired Loans and Troubled Debt Restructurings

When, for economic or legal reasons related to a borrower’s financial difficulties, we grant a concession for other than an insignificant period of time to a borrower that we would not otherwise consider, the related loan is classified as a Troubled Debt Restructuring, or TDR. Our TDR modifications related to extensions of the maturity dates at a stated interest rate lower than the current market rate for new debt with similar risk. As of December 31, 2020, none of our TDR modifications have been made in response to the COVID-19 pandemic.

The following table presents our impaired loans and loans that we modified as TDRs as of December 31, 2020 and 2019:


	December 31, 2020				December 31, 2019
	Unpaid Principal Balance		Carrying Value		Unpaid Principal Balance		Carrying Value
	(In thousands)
Residential	$	240	$	180	$	290	$	221
Installment	137		103		160		48

Note 6—Loans to Bank Customers (continued)

Allowance for Loan Losses

Activity in the allowance for loan losses consisted of the following:


	Year Ended December 31,
	2020		2019		2018
	(In thousands)
Balance, beginning of period	$	1,166	$	1,144	$	291
Provision for loans	859		2,405		3,094
Loans charged off	(1,697)		(2,674)		(2,657)
Recoveries of loans previously charged off	429		291		416
Balance, end of period	$	757	$	1,166	$	1,144

Equity Method Investment	12 Months Ended
Equity Method Investment	Dec. 31, 2020
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investment	Equity Method Investment On January 2, 2020, we effectuated our agreement with Walmart to jointly establish a new fintech accelerator under the name TailFin Labs, LLC (“TailFin Labs”), with a mission to develop innovative products, services and technologies that sit at the intersection of retail shopping and consumer financial services. The entity is majority-owned by Walmart and focuses on developing tech-enabled solutions to integrate omni-channel retail shopping and financial services. We hold a 20% ownership interest in the entity, in exchange for annual capital contributions of $35.0 million per year from January 2020 through January 2024. We account for our investment in TailFin Labs under the equity method of accounting in accordance with ASC 323, Investments – Equity Method and Joint Ventures. Under the equity method of accounting, the initial investment is recorded at cost and the investment is subsequently adjusted for, among other things, its proportionate share of earnings or losses. However, given the capital structure of the TailFin Labs arrangement, we apply the Hypothetical Liquidation Book Value ("HLBV") method to determine the allocation of profits and losses since our liquidation rights and priorities, as defined by the agreement, differ from our underlying ownership interest. The HLBV method calculates the proceeds that would be attributable to each partner in an investment based on the liquidation provisions of the agreement if the partnership was to be liquidated at book value as of the balance sheet date. Each partner’s allocation of income or loss in the period is equal to the change in the amount of net equity they are legally able to claim based on a hypothetical liquidation of the entity at the end of a reporting period compared to the beginning of that period, adjusted for any capital transactions. Any future economic benefits derived from products or services developed by TailFin Labs will be negotiated on a case-by-case basis between the parties. As of December 31, 2020, our net investment in TailFin Labs amounted to approximately $28.8 million and is included in the long term portion of prepaid expenses and other assets on our consolidated balance sheet. We recorded equity in losses from TailFin Labs of approximately $7.0 million for the year ended December 31, 2020, which is recorded as a component of other income and expense on our consolidated statement of operations. Total equity in losses also includes income and losses from an investment held by our bank under the Community Reinvestment Act, which are not material to these consolidated financial statements.

Property and Equipment

12 Months Ended

Dec. 31, 2020

Property and Equipment [Abstract]

Property and Equipment

Property and equipment consisted of the following:


	December 31,
	2020		2019
	(In thousands)
Land	$	205	$	205
Building	605		605
Computer equipment, furniture, and office equipment	61,093		61,193
Computer software purchased	31,181		31,218
Capitalized internal-use software	237,792		227,137
Tenant improvements	5,037		14,435
	335,913		334,793
Less accumulated depreciation and amortization	(202,513)		(189,317)
Property and equipment, net	$	133,400	$	145,476

The net carrying value of capitalized internal-use software was $117.6 million and $119.9 million at December 31, 2020 and 2019, respectively.

Total depreciation and amortization expense was $58.0 million, $49.5 million and $38.6 million for the years ended December 31, 2020, 2019 and 2018, respectively. Included in those amounts are depreciation expense related to internal-use software of $43.9 million, $35.1 million and $25.5 million for the years ended December 31, 2020, 2019 and 2018, respectively.

We recorded impairment charges to property and equipment of $14.7 million, $0.6 million and $0.9 million for the years ended December 31, 2020, 2019 and 2018. Impairment charges for the year ended December 31, 2020 were primarily associated with capitalized internal-use software we determined to no longer be utilized, as well as tenant improvements and other computer equipment at our office locations that will no longer provide any future economic benefit as a result of our remote workforce strategy. See Note 20 — Leases, for additional information.

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and intangible assets on our consolidated balance sheets consisted of the following:


	December 31,
	2020		2019
	(In thousands)
Goodwill	$	301,790	$	301,790
Intangible assets, net	189,988		219,204
Goodwill and intangible assets	$	491,778	$	520,994

Goodwill

There were no changes in the composition of goodwill from the previous year. We completed our annual goodwill impairment test as of September 30, 2020. Based on the results of the annual goodwill impairment test, we determined that each of the fair values of our reporting units exceeded their carrying values and therefore, no impairment was recorded.

Note 9—Goodwill and Intangible Assets (continued)

Intangible Assets

The gross carrying amounts and accumulated amortization related to intangibles assets were as follows:


	December 31, 2020						December 31, 2019
	Gross Carrying Value		Accumulated Amortization		Net Book Value		Gross Carrying Value		Accumulated Amortization		Net Book Value		Weighted Average Useful Lives
	(In thousands)						(In thousands)						(Years)
Customer relationships	$	309,773	$	(150,445)	$	159,328	$	309,773	$	(126,167)	$	183,606	12.8
Trade names	44,086		(18,535)		25,551		44,086		(15,689)		28,397		14.6
Patents	3,000		(1,636)		1,364		3,000		(1,364)		1,636		11.0
Software licenses	5,595		(2,698)		2,897		4,832		(837)		3,995		3.0
Other	5,964		(5,116)		848		5,964		(4,394)		1,570		5.0
Total intangible assets	$	368,418	$	(178,430)	$	189,988	$	367,655	$	(148,451)	$	219,204

Amortization expense on finite-lived intangibles, a component of other general and administrative expenses, was $28.1 million, $32.6 million, and $32.8 million for the years ended December 31, 2020, 2019, and 2018, respectively. None of our intangible assets were considered impaired as of December 31, 2020 or 2019.

The following table shows our estimated amortization expense for intangible assets for each of the next five succeeding years and thereafter:


	December 31,
	(In thousands)
2021	$	28,863
2022	27,547
2023	26,418
2024	23,428
2025	17,435
Thereafter	66,297
Total	$	189,988

Deposits

12 Months Ended

Dec. 31, 2020

Deposits [Abstract]

Deposits

Deposits are categorized as non-interest or interest-bearing deposits as follows:


	December 31,
	2020		2019
	(In thousands)
Non-interest bearing deposit accounts	$	2,704,050	$	1,055,818
Interest-bearing deposit accounts
Checking accounts	5,060		95,995
Savings	8,505		6,619
GPR deposits	12,955		11,892
Time deposits, denominations greater than or equal to $100	3,767		3,854
Time deposits, denominations less than $100	779		1,163
Total interest-bearing deposit accounts	31,066		119,523
Total deposits	$	2,735,116	$	1,175,341

Note 10—Deposits (continued)

The scheduled contractual maturities for total time deposits are presented in the table below:


	December 31,
	(In thousands)
Due in 2021	$	1,346
Due in 2022	1,451
Due in 2023	912
Due in 2024	458
Due in 2025	379
Total time deposits	$	4,546

As of December 31, 2020, we had aggregate time deposits of $2.0 million in denominations that met or exceeded the Federal Deposit Insurance Corporation (FDIC) insurance limit.

Debt	12 Months Ended
Debt	Dec. 31, 2020
Debt Disclosure [Abstract]
Debt	Debt 2019 Revolving Facility In October 2019, we entered into a secured credit agreement with Wells Fargo Bank, National Association, and other lenders party thereto. The credit facility provides for a $100.0 million five-year revolving line of credit (the "2019 Revolving Facility"), maturing in October 2024. We use the proceeds of any borrowings under the revolving facility for working capital and other general corporate purposes, subject to the terms and conditions set forth in the credit agreement. We classify amounts outstanding as long-term on our consolidated balance sheets; however, we may make voluntary repayments at any time prior to maturity. As of December 31, 2020, we had no borrowings outstanding on the 2019 Revolving Facility and had the full amount available for use. At our election, loans made under the credit agreement bear interest at 1) a LIBOR rate (the “LIBOR Rate") or 2) a base rate determined by reference to the highest of (a) the United States federal funds rate plus .50%, (a) the Wells Fargo prime rate and (c) a daily rate equal to one-month LIBOR rate plus 1.0% (the “Base Rate"), plus in either case an applicable margin. The margin is dependent upon on our total leverage ratio and varies from 1.25% to 2.00% for LIBOR Rate loans and .25% to 1.00% for Base Rate loans. We also pay a commitment fee, which varies from .20% to .35% per annum on the actual daily unused portions of the 2019 Revolving Facility. Letter of credit fees are payable in respect of outstanding letters of credit at a rate per annum equal to the applicable margin for LIBOR Rate loans. The 2019 Revolving Facility contains customary representations and warranties relating to us and our subsidiaries. The facility also contains certain affirmative and negative covenants including negative covenants that limit or restrict, among other things, liens, indebtedness, investments and acquisitions, mergers and fundamental changes, asset sales, restricted payments, changes in the nature of the business, transactions with affiliates and other matters customarily restricted in such agreements. We must also maintain a minimum fixed charge coverage ratio and a maximum consolidated leverage ratio at the end of each fiscal quarter, as set forth in the credit agreement. At December 31, 2020, we were in compliance with all such covenants. If an event of default shall occur and be continuing under the facility, the commitments may be terminated and the principal amounts outstanding under the 2019 Revolving Facility, together with all accrued unpaid interest and other amounts owing in respect thereof, may be declared immediately due and payable. Senior Credit Facility In October 2014, we entered into a $225.0 million credit agreement with Bank of America, N.A., as an administrative agent, Wells Fargo Bank, National Association, and the other lenders party thereto. The credit agreement provided for 1) a $75.0 million five-year revolving facility (the "Revolving Facility") and 2) a five-year $150.0 million term loan facility ("Term Facility" and, together with the Revolving Facility, the "Senior Credit Facility"). In March 2019, we elected to make a voluntary prepayment of $60.0 million to retire the Term Facility without penalty or additional premium. The Revolving Facility remained available for use until the Senior Credit Facility matured in October 2019, at which point we entered into the 2019 Revolving Facility discussed above. Cash interest expense related to our debt was $0.6 million, $0.6 million, and $3.5 million for the years ended December 31, 2020, 2019 and 2018, respectively.

Stockholders' Equity	12 Months Ended
Stockholders' Equity	Dec. 31, 2020
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders’ Equity Common Stock Our Certificate of Incorporation specifies the following rights, preferences, and privileges for our common stockholders. Voting Holders of our Class A common stock are entitled to one vote per share. We have not provided for cumulative voting for the election of directors in our restated Certificate of Incorporation. In addition, our Certificate of Incorporation provides that a holder, or group of affiliated holders, of more than 24.9% of our common stock may not vote shares representing more than 14.9% of the voting power represented by the outstanding shares of our Class A common stock. Dividends Subject to preferences that may apply to any shares of preferred stock outstanding at the time, the holders of outstanding shares of our Class A common stock are entitled to receive dividends out of funds legally available at the times and in the amounts that our board of directors may determine. In the event a dividend is paid in the form of shares of common stock or rights to acquire shares of common stock, the holders of Class A common stock will receive Class A common stock, or rights to acquire Class A common stock, as the case may be. Liquidation Upon our liquidation, dissolution or winding-up, the assets legally available for distribution to our stockholders would be distributable ratably among the holders of our Class A common stock and any participating preferred stock outstanding at that time after payment of liquidation preferences, if any, on any outstanding shares of our preferred stock and payment of other claims of creditors. Preemptive or Similar Rights Our Class A common stock is not entitled to preemptive rights or subject to redemption. Comprehensive Income The tax impact on unrealized gains on investment securities available-for-sale for the years ended December 31, 2020, 2019 and 2018 was approximately $0.3 million, $0.8 million and $0.1 million, respectively. Stock Repurchase Program In May 2017, our Board of Directors authorized, subject to regulatory approval, expansion of our stock repurchase program by an additional $150 million. We sought and received regulatory approval during the second quarter of 2019, at which point we entered into a $100 million accelerated share repurchase agreement. In August 2019, we completed final settlement of shares purchased under this agreement, receiving in total approximately 2.1 million shares at an average repurchase price of $48.26. As of December 31, 2020, we have an authorized $50 million remaining under our current stock repurchase program for any additional repurchases. Walmart Restricted Shares On January 2, 2020, we issued Walmart, in a private placement, 975,000 restricted shares of our Class A Common Stock. The shares vest in equal monthly increments through December 1, 2022, however, Walmart is entitled to voting rights and participate in any dividends paid from the issuance date on the unvested balance. As such, the total amount of restricted shares issued are included in our total Class A shares outstanding. As of December 31, 2020, there were 650,000 unvested shares outstanding. The estimated grant-date fair value of the restricted shares is recorded as a component of stock-based compensation expense over the related period we expect to benefit under our relationship with Walmart.

Employee Stock-Based Compensation

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Employee Stock-Based Compensation

In June 2010, our board of directors adopted, and in July 2010 our stockholders approved, the 2010 Equity Incentive Plan, which replaced our 2001 Stock Plan, and the 2010 Employee Stock Purchase Plan. The 2010 Equity Incentive Plan authorizes the award of stock options, restricted stock awards, stock appreciation rights, restricted stock units, performance shares and stock bonuses. Options granted under the 2010 Equity Incentive Plan generally vest over four years and expire five years or ten years from the date of grant. The 2010 Employee Stock Purchase Plan enables eligible employees to purchase shares of our Class A common stock periodically at a discount. Our 2010 Employee Stock Purchase Plan is intended to qualify as an employee stock purchase plan under Section 423 of the Internal Revenue Code. Approximately 4.7 million shares are available for grant under the 2010 Equity Incentive Plan as of December 31, 2020.

Stock-based compensation for the years ended December 31, 2020, 2019, and 2018 includes expense related to awards of stock options, performance and service based restricted stock units and purchases under the 2010 Employee Stock Purchase Plan. Total stock-based compensation expense and the related income tax benefit were as follows:


	Year Ended December 31,
	2020		2019		2018
	(In thousands)
Total stock-based compensation expense	$	53,694	$	29,583	$	50,093
Related income tax benefit	6,573		5,143		3,783

Restricted Stock Units

The following table summarizes restricted stock units with only service conditions granted under our 2010 Equity Incentive Plan:


	Year Ended December 31,
	2020		2019		2018
	(In thousands, except per share data)
Restricted stock units granted	1,618		238		452
Weighted-average grant-date fair value	$	31.12	$	38.93	$	74.33

Restricted stock unit activity for the year ended December 31, 2020 was as follows:


	Shares	Weighted-Average Grant-Date Fair Value
	(In thousands, except per share data)
Outstanding at December 31, 2019	888	$	47.20
Restricted stock units granted	1,618	31.12
Restricted stock units vested	(616)	34.51
Restricted stock units canceled	(668)	38.57
Outstanding at December 31, 2020	1,222	$	36.24

The total fair value of restricted stock vested for the years ended December 31, 2020, 2019 and 2018 was $25.6 million, $30.9 million and $67.5 million, respectively, based on the price of our Class A common stock on the vesting date.

Performance-Based Restricted Stock Units

We grant performance-based restricted stock units to certain employees that are subject to the attainment of pre-established internal performance conditions, market conditions, or a combination thereof (collectively referred to herein as performance-based restricted stock units). The actual number of shares subject to the award is determined at the end of the performance period and may range from zero to 200% of the target shares granted depending upon the terms of the award. These awards generally contain an additional service component after each performance period is concluded and the unvested balance of the shares after the performance metrics are achieved will vest over the remaining requisite service period. Compensation expense related to these awards is recognized using the accelerated attribution method over the vesting period (generally, a total period of four years) based on the grant date fair value of the award.

Note 13—Employee Stock-Based Compensation (continued)

The following table summarizes the performance-based restricted stock units granted under our 2010 Equity Incentive Plan:


	Year Ended December 31,
	2020		2019		2018
	(In thousands, except per share data)
Performance restricted stock units granted	1,045		722		276
Weighted-average grant-date fair value	$	33.15	$	48.45	$	71.70

Performance-based restricted stock unit activity for the year ended December 31, 2020 was as follows:


	Shares	Weighted-Average Grant-Date Fair Value
	(In thousands, except per share data)
Outstanding at December 31, 2019	854	$	54.63
Performance restricted stock units granted (at target)	1,045	$	33.15
Performance restricted stock units vested	(258)	$	50.33
Performance restricted stock units canceled	(695)	$	48.72

Outstanding at December 31, 2020	946	$	35.62

The total fair value of all performance-based restricted stock vested for the years ended December 31, 2020, 2019 and 2018 was $12.4 million, $22.7 million and $45.1 million, respectively, based on the price of our Class A common stock on the vesting date.

Stock Options

In connection with the recent hiring of certain executive officers, we granted stock options subject to market conditions during the year ended December 31, 2020. The stock options have a seven-year term that vest subject to continued service over three years, and upon our company achieving certain stock trading prices within a five-year period. Compensation expense related to these awards is recognized over the greater of the explicit service period or a derived implicit period based on when the performance targets are expected to be achieved. The grant date fair value is determined through the use of a Monte Carlo simulation and is not subsequently re-measured.

The following table summarizes our market-based stock options granted:


	Year Ended December 31,
	2020
	(In thousands, except per share data)
Stock options granted	2,250
Weighted-average exercise price	$	31.30
Weighted-average grant-date fair value	$	14.57


	Year Ended December 31,
	2020
Risk-free interest rate	0.63	%
Expected term (in years)	3.30
Expected dividends	—
Expected volatility	53.8	%

Note 13—Employee Stock-Based Compensation (continued)

Total stock option activity for the year ended December 31, 2020 was as follows:


	Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (in Years)	Aggregate Intrinsic Value
	(In thousands, except per share data and years)
Outstanding at December 31, 2019	181	$	20.09
Options granted	2,250	31.30
Options exercised	(404)	26.13
Options canceled	(393)	28.37
Outstanding at December 31, 2020	1,634	$	32.04	5.99	$	38,836
Exercisable at December 31, 2020	134	22.95		2.06	$	4,411

We have not issued any service only based stock option awards from our 2010 Equity Incentive Plan for the periods presented in these consolidated financial statements.

The total intrinsic value of options exercised was $10.5 million, $2.4 million and $36.2 million for the years ended December 31, 2020, 2019, and 2018, respectively.

As of December 31, 2020, there was $53.4 million of aggregate unrecognized compensation cost related to unvested restricted stock units (including performance-based awards) expected to be recognized in compensation expense in future periods, with a weighted-average period of 2.6 years. As of December 31, 2020, there was $13.7 million remaining of unrecognized compensation cost related to stock options, with a weighted-average period of 1.3 years.

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

The components of income tax expense included in our consolidated statements of operations were as follows:


	Year Ended December 31,
	2020		2019		2018
	(In thousands)
Current:
Federal	$	15,846	$	11,914	$	4,011
State	3,650		1,790		894
Foreign	471		604		443
Current income tax expense	19,967		14,308		5,348
Deferred:
Federal	(11,212)		8,102		1,136
State	(3,722)		(1,226)		(1,370)
Foreign	(69)		—		—
Deferred income tax (benefit) expense	(15,003)		6,876		(234)
Income tax expense	$	4,964	$	21,184	$	5,114

Note 14—Income Taxes (continued)

Income tax expense differs from the amount computed by applying the statutory federal income tax rate to income before income taxes. The sources and tax effects of the differences are as follows:


	Year Ended December 31,
	2020		2019		2018
U.S. federal statutory tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit	(2.0)		0.1		(0.5)
General business credits	(10.9)		(2.1)		(2.2)
Employee stock-based compensation	(7.7)		(2.2)		(17.1)
Tax Cuts and Jobs Act remeasurement	—		—		0.2
Non-deductible executive compensation	17.2		0.1		2.2
Capital loss valuation allowance release	(1.1)		—		—
Non-deductible penalties	1.1		—		—
Other	0.1		0.6		0.5
Effective tax rate	17.7	%	17.5	%	4.1	%

The increase in the effective tax rate for the year ended December 31, 2020 as compared to the prior year ended December 31, 2019 is primarily due to an increase of the IRC 162(m) limitation on the deductibility of certain executive compensation. This increase was partially offset by the impact of general business credits and an increase in excess tax benefits from stock-based compensation.

We have made a policy election to account for Global Intangible Low-Taxed Income ("GILTI") in the year the GILTI tax is incurred. For the year ended December 31, 2020, the provision for GILTI tax expense was not material to our financial statements.

The tax effects of temporary difference that give rise to significant portions of our deferred tax assets and liabilities were as follows:


	December 31,
	2020		2019
	(In thousands)
Deferred tax assets:
Net operating loss carryforwards	$	7,882	$	8,002
Stock-based compensation	7,651		5,820
Reserve for overdrawn accounts	7,661		4,456
Accrued liabilities	15,080		7,965
Lease liabilities	4,763		8,195
Tax credit carryforwards	10,035		8,723
Capital loss carryforwards	—		341
Other	543		—
Gross deferred tax assets	53,615		43,502
Valuation allowance	—		(341)
Total deferred tax assets	$	53,615	$	43,161
Deferred tax liabilities:
Internal-use software costs	$	29,149	$	29,382
Property and equipment, net	1,003		2,240
Deferred expenses	4,544		4,114
Intangible assets	10,009		7,826
Gift card revenue	1,389		1,422
Lease right-of-use assets	1,974		6,524
Other	—		388
Total deferred tax liabilities	48,068		51,896
Net deferred tax assets (liabilities)	$	5,547	$	(8,735)

Note 14—Income Taxes (continued)

We establish a valuation allowance when we consider it more-likely-than-not that some portion or all of the deferred tax assets will not be realized. During the second quarter ended June 30, 2020, we released our valuation allowance against our capital loss carryforwards as we recognized capital gains on the sale of certain investment securities during that period sufficient to offset our entire capital loss carryforward amount. As of December 31, 2020, we did not have a valuation allowance on any of our deferred tax assets as we believe it is more-likely-than-not that we will realize the benefits of our deferred tax assets.

We are subject to examination by the Internal Revenue Service, or IRS, and various state tax authorities. We remain subject to examination of our federal income tax returns for the years ended December 31, 2017 through 2019. We generally remain subject to examination of our various state income tax returns for a period of four to five years from the respective dates the returns were filed. The IRS initiated an examination of our 2017 U.S. federal tax return during the second quarter ended June 30, 2020 and the examination remains ongoing as of December 31, 2020. We do not expect that this examination will have a material impact on our consolidated financial statements.

As of December 31, 2020, we have federal net operating loss carryforwards of approximately $19.2 million and state net operating loss carryforwards of approximately $68.8 million which will be available to offset future income. If not used, the federal net operating losses will expire between 2026 and 2034. In regards to the state net operating loss carryforwards, approximately $46.6 million will expire between 2021 and 2040, while the remaining balance of approximately $22.2 million, does not expire and carries forward indefinitely. The net operating losses are subject to an annual IRC Section 382 limitation which restricts their utilization against taxable income in future periods. In addition, we have state business tax credits of approximately $17.3 million that can be carried forward indefinitely and other state business tax credits of approximately $1.1 million that will expire between 2023 and 2027.

As of December 31, 2020 and 2019, we had a liability of $9.5 million and $8.4 million, respectively, for unrecognized tax benefits related to various federal and state income tax matters excluding interest, penalties and related tax benefits. The reconciliation of the beginning unrecognized tax benefits balance to the ending balance is as follows:


	Year Ended December 31,
	2020		2019		2018
	(In thousands)
Beginning balance	$	8,398	$	6,965	$	5,560
Increases related to positions taken during prior years	482		313		462
Increases related to positions taken during the current year	1,500		1,576		1,607

Decreases due to a lapse of applicable statute of limitations	(862)		(456)		(664)
Ending balance	$	9,518	$	8,398	$	6,965

The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate	$	9,424	$	8,341	$	6,918

We recognized accrued interest and penalties related to unrecognized tax benefits for the years ended December 31, 2020, 2019 and 2018, of approximately $0.5 million, $0.5 million and $0.3 million, respectively.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Earnings per Common Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings per Common Share

The calculation of basic and diluted EPS was as follows:


	Year Ended December 31,
	2020		2019		2018
	(In thousands, except per share data)
Basic earnings per Class A common share
Numerator:
Net income	$	23,131	$	99,897	$	118,703
Amount attributable to unvested Walmart restricted shares	(346)		—		—
Net income allocated to Class A common stockholders	$	22,785	$	99,897	$	118,703
Denominator:
Weighted-average Class A shares issued and outstanding	52,438		52,195		52,222
Basic earnings per Class A common share	$	0.43	$	1.91	$	2.27

Diluted earnings per Class A common share
Numerator:
Net income allocated to Class A common stockholders	$	22,785	$	99,897	$	118,703
Re-allocated earnings	8		—		—
Diluted net income allocated to Class A common stockholders	$	22,793	$	99,897	$	118,703
Denominator:
Weighted-average Class A shares issued and outstanding	52,438		52,195		52,222
Dilutive potential common shares:
Stock options	233		114		327
Service based restricted stock units	708		361		1,135
Performance-based restricted stock units	306		440		796
Employee stock purchase plan	—		28		1
Diluted weighted-average Class A shares issued and outstanding	53,685		53,138		54,481
Diluted earnings per Class A common share	$	0.42	$	1.88	$	2.18

For the periods presented, we excluded certain restricted stock units and stock options outstanding, which could potentially dilute basic EPS in the future, from the computation of diluted EPS as their effect was anti-dilutive. Additionally, we have excluded any performance-based restricted stock units and performance-based stock options where the performance contingency has not been met as of the end of the period, or whereby the result of including such awards was anti-dilutive.

The following table shows the weighted-average number of anti-dilutive shares excluded from the diluted EPS calculation:


	Year Ended December 31,
	2020	2019	2018
	(In thousands)
Class A common stock
Options to purchase Class A common stock	731	—	—
Service based restricted stock units	101	354	20
Performance-based restricted stock units	301	459	143
Unvested Walmart restricted shares	796	—	—
Total	1,929	813	163

Fair Value Measurements

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

We determine the fair values of our financial instruments based on the fair value hierarchy established under applicable accounting guidance which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs used to measure fair value.

For more information regarding the fair value hierarchy and how we measure fair value, see Note 2 — Summary of Significant Accounting Policies.

As of December 31, 2020 and 2019, our assets and liabilities carried at fair value on a recurring basis were as follows:


	Level 1		Level 2		Level 3		Total Fair Value
December 31, 2020	(In thousands)
Assets
Corporate bonds	$	—	$	10,110	$	—	$	10,110


Agency bond securities	—		234,157		—		234,157
Agency mortgage-backed securities	—		691,029		—		691,029
Municipal bonds	—		30,501		—		30,501
Asset-backed securities	—		5,172		—		5,172
Total assets	$	—	$	970,969	$	—	$	970,969

Liabilities
Contingent consideration	$	—	$	—	$	5,300	$	5,300

December 31, 2019
Assets
Corporate bonds	$	—	$	10,012	$	—	$	10,012



Agency bond securities	—		20,000		—		20,000
Agency mortgage-backed securities	—		211,033		—		211,033
Municipal bonds	—		4,342		—		4,342
Asset-backed securities	—		32,052		—		32,052
Total assets	$	—	$	277,439	$	—	$	277,439

Liabilities
Contingent consideration	$	—	$	—	$	9,300	$	9,300

We based the fair value of our fixed income securities held as of December 31, 2020 and 2019 on quoted prices in active markets for similar assets. We had no transfers between Level 1, Level 2 or Level 3 assets or liabilities during the years ended December 31, 2020 and 2019.

The following table presents changes in our contingent consideration payable for the years ended December 31, 2020, 2019 and 2018, which is categorized in Level 3 of the fair value hierarchy:


	Year Ended December 31,
	2020		2019		2018
	(In thousands)
Balance, beginning of period	$	9,300	$	15,800	$	17,358

Payments of contingent consideration	(4,000)		(4,634)		(4,856)
Change in fair value of contingent consideration	—		(1,866)		3,298
Balance, end of period	$	5,300	$	9,300	$	15,800

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

The following describes the valuation technique for determining the fair value of financial instruments, whether or not such instruments are carried at fair value on our consolidated balance sheets.

Short-term Financial Instruments

Our short-term financial instruments consist principally of unrestricted and restricted cash and cash equivalents, settlement assets and obligations, and obligations to customers. These financial instruments are short-term in nature, and, accordingly, we believe their carrying amounts approximate their fair values. Under the fair value hierarchy, these instruments are classified as Level 1.

Investment Securities

The fair values of investment securities have been derived using methodologies referenced in Note 2 — Summary of Significant Accounting Policies. Under the fair value hierarchy, our investment securities are classified as Level 2.

Loans

We determined the fair values of loans by discounting both principal and interest cash flows expected to be collected using a discount rate commensurate with the risk that we believe a market participant would consider in determining fair value. Under the fair value hierarchy, our loans are classified as Level 3.

Deposits

The fair value of demand and interest checking deposits and savings deposits is the amount payable on demand at the reporting date. We determined the fair value of time deposits by discounting expected future cash flows using market-derived rates based on our market yields on certificates of deposit, by maturity, at the measurement date. Under the fair value hierarchy, our deposits are classified as Level 2.

Contingent Consideration

The fair value of contingent consideration obligations are estimated through valuation models designed to estimate the probability of such contingent payments based on various assumptions. Estimated payments are discounted using present value techniques to arrive at an estimated fair value. Our contingent consideration payable is classified as Level 3 because we use unobservable inputs to estimate fair value, including the probability of achieving certain earnings thresholds and appropriate discount rates. Our contingent consideration payable is included as a component of other accrued liabilities on our consolidated balance sheets and changes in fair value are recorded through operating expenses.

Debt

The fair value of our debt is based on borrowing rates currently required of loans with similar terms, maturity and credit risk. The carrying amount of our debt approximates fair value because the base interest rate charged varies with market conditions and the credit spread is commensurate with current market spreads for issuers of similar risk. The fair value of our debt is classified as a Level 2 liability in the fair value hierarchy.

Fair Value of Financial Instruments

The carrying values and fair values of certain financial instruments that were not carried at fair value, excluding short-term financial instruments for which the carrying value approximates fair value, at December 31, 2020 and 2019 are presented in the table below.


	December 31, 2020				December 31, 2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(In thousands)
Financial Assets
Loans to bank customers, net of allowance	$	21,011	$	20,421	$	21,417	$	19,563

Financial Liabilities
Deposits	$	2,735,116	$	2,735,072	$	1,175,341	$	1,175,298
Line of credit	$	—	$	—	$	35,000	$	35,000

Concentrations of Credit Risk

12 Months Ended

Dec. 31, 2020

Concentrations of Credit Risk [Abstract]

Significant Customer Concentration

Concentrations of Credit RiskFinancial instruments that subject us to concentration of credit risk consist primarily of unrestricted cash and cash equivalents, restricted cash, investment securities, accounts receivable, loans and settlement assets. We deposit our unrestricted cash and cash equivalents and our restricted cash with regional and national banking institutions that we periodically monitor and evaluate for creditworthiness. Credit risk for our investment securities is mitigated by the types of investment securities in our portfolio, which must comply with strict investment guidelines that we believe appropriately ensures the preservation of invested capital. Credit risk for our accounts receivable is concentrated with card issuing banks and our customers, and this risk is mitigated by the relatively short collection period and our large customer base. We do not require or maintain collateral for accounts receivable. We maintain reserves for uncollectible overdrawn accounts and uncollectible trade receivables. With respect to our loan portfolio (excluding secured credit cards), as of December 31, 2020 approximately 92.3% of our borrowers reside in the state of Utah and approximately 42.3% 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. Credit risk associated with our secured credit card portfolio is mitigated by collateral provided by the borrower in the amount of their credit limit. Credit risk for our settlement assets is concentrated with our retail distributors and other business partners, which we frequently monitor and is further mitigated by the short collection period.Significant Retailer and Partner Concentrations

A credit concentration may exist if customers are involved in similar industries, economic sectors, and geographic regions. Our retail distributors operate in similar economic sectors but diverse domestic geographic regions. The loss of a significant retail distributor could have a material adverse effect upon our card sales, profitability, and revenue growth.

Revenue Concentrations

Revenues derived from our products sold at retail distributors constituting greater than 10% of our total operating revenues were as follows:


	Year Ended December 31,
	2020	2019	2018
Walmart	27%	34%	36%

In addition, approximately 13% of our total operating revenues for the year ended December 31, 2020 were generated from a single BaaS partner, without a corresponding concentration to our gross profit for the period.

Settlement Asset Concentrations

Settlement assets derived from our products sold at retail distributors constituting greater than 10% of the settlement assets outstanding on our consolidated balance sheets were as follows:


	December 31, 2020	December 31, 2019
Walmart	*	13%


*			Constitutes less than 10% for the period presented.

Defined Contribution Plan	12 Months Ended
Defined Contribution Plan	Dec. 31, 2020
Defined Contribution Plan [Abstract]
Defined Contribution Plan	Defined Contribution PlanOn January 1, 2004, we established a defined contribution savings plan under Section 401(k) of the Internal Revenue Code. Employees who have attained at least 21 years of age are generally eligible to participate in the plan on the first day of the calendar month following the month in which they commence service with us. Participants may make pre-tax or after-tax contributions to the plan from their eligible earnings up to the statutorily prescribed annual limit on contributions under the code. We may contribute to the plan at the discretion of our board of directors. Currently, employer contributions amount to 50% of the first 5% of a participant's eligible compensation. Our contributions are allocated in the same manner as that of the participant’s elective contributions. We made contributions to the plan of $2.2 million, $2.2 million, and $1.7 million for the years ended December 31, 2020, 2019 and 2018, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

Our leases consist of operating lease agreements principally related to our corporate and subsidiary office locations. Currently, we do not enter into any financing lease agreements. Our leases have remaining lease terms of less than 1 year to approximately 5 years, many of which generally include renewal options of varying terms.

As of December 31, 2020 and for the foreseeable future, we have committed to a remote workforce strategy for most U.S. based employees. As such, during the fourth quarter of 2020, we recorded an impairment charge of approximately $7.0 million related to our lease right-of-use assets as we no longer intend to utilize our leased office spaces in the U.S. for the duration of our remaining lease terms. Our lease agreements have or will be terminated in due course in accordance with our lease provisions, however, we may be contractually obligated to continue making lease payments where no termination option is available.

Our total lease expense amounted to approximately $9.2 million, $11.3 million, and $7.6 million for the years ended December 31, 2020, 2019 and 2018, respectively. Our lease expense is generally based on fixed payments stated within the agreements. Any variable payments for non-lease components and other short term lease expenses are not considered material.

Supplemental Information

Supplemental information related to our ROU assets and related lease liabilities is as follows:


	Year Ended December 31,
	2020			2019


Cash paid for operating lease liabilities (in thousands)	$	9,910		$	8,850
Weighted average remaining lease term (years)	3.3			4.1
Weighted average discount rate	4.8		%	4.7		%

Note 20—Leases (continued)

Maturities of our operating lease liabilities as of December 31, 2020 is as follows:


	Operating Leases
	(In thousands)
2021	$	9,715
2022	8,805
2023	3,500
2024	3,464
2025	1,732
	27,216
Less: imputed interest	(2,645)
Total lease liabilities	$	24,571

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Financial Commitments As discussed in Note 7 — Equity Method Investment, we are committed to make annual capital contributions in TailFin Labs, LLC of $35.0 million per year from January 2020 through January 2024. Our definitive agreement to acquire all of the equity interests of UniRush provides for a minimum $4 million annual earn-out payment for five years following the closing, ending in February 2022. As of December 31, 2020, the estimated fair value of our remaining earn-out payments amounted to $5.3 million. In addition, through the normal course of business, we may enter into various agreements with our vendors and retail distributors that may subject us to minimum annual requirements. Litigation and Claims In the ordinary course of business, we are a party to various legal proceedings, including, from time to time, actions which are asserted to be maintainable as class action suits. We review these actions on an ongoing basis to determine whether it is probable and estimable that a loss has occurred and use that information when making accrual and disclosure decisions. We have provided reserves where necessary for all claims and, based on current knowledge and in part upon the advice of legal counsel, all matters are believed to be adequately covered by insurance, or, if not covered, we do not expect the outcome in any legal proceedings, individually or collectively, to have a material adverse impact on our financial condition or results of operations. On December 18, 2019, an alleged class action entitled Koffsmon v. Green Dot Corp., et al., No. 19-cv-10701-DDP-E, was filed in the United States District Court for the Central District of California, against us and two of our former officers. The suit asserts purported claims under Sections 10(b) and 20(a) of the Exchange Act for allegedly misleading statements regarding our business strategy. Plaintiff alleges that defendants made statements that were misleading because they allegedly failed to disclose details regarding our customer acquisition strategy and its impact on our financial performance. The suit is purportedly brought on behalf of purchasers of our securities between May 9, 2018 and November 7, 2019, and seeks compensatory damages, fees and costs. On February 18, 2020, a shareholder derivative suit and securities class action entitled Hellman v. Streit, et al, No. 20-cv-01572-SVW-PVC was filed in United States District Court for the Central District of California, against us and certain of our officers and directors. The suit avers purported breach of fiduciary duty and unjust enrichment claims, as well as claims under Sections 10(b), 14(a) and 20(a) of the Exchange Act, on the basis of the same wrongdoing alleged in the first lawsuit described above. The suit does not define the purported class allegedly damaged. These cases have been related. We have not yet responded to the complaints in these matters. Due to the inherent uncertainties of litigation, we cannot accurately predict the ultimate outcome of this matter. We are unable at this time to determine whether the outcome of the litigation would have a material impact on our results of operations, financial condition or cash flows. Note 21—Commitments and Contingencies (continued) Other Legal Matters We monitor the laws of all 50 states to identify state laws or regulations that apply (or may apply) to our products and services. We have obtained money transmitter licenses (or similar such licenses) where applicable, based on advice of counsel or when we have been requested to do so. If we were found to be in violation of any laws and regulations governing banking, money transmitters, electronic fund transfers, or money laundering in the United States or abroad, we could be subject to penalties or could be forced to change our business practices. From time to time we enter into contracts containing provisions that contingently require us to indemnify various parties against claims from third parties. These contracts primarily relate to: (i) contracts with our card issuing banks, under which we are responsible to them for any unrecovered overdrafts on cardholders’ accounts; (ii) certain real estate leases, under which we may be required to indemnify property owners for environmental and other liabilities, and other claims arising from our use of the premises; (iii) certain agreements with our officers, directors, and employees, under which we may be required to indemnify these persons for liabilities arising out of their relationship with us; and (iv) contracts under which we may be required to indemnify our retail distributors, suppliers, vendors and other parties with whom we have contracts against claims arising from certain of our actions, omissions, violations of law and/or infringement of patents, trademarks, copyrights and/or other intellectual property rights. Generally, a maximum obligation under these contracts is not explicitly stated. Because the obligated amounts associated with these types of agreements are not explicitly stated, the overall maximum amount of the obligation cannot be reasonably estimated. With the exception of overdrafts on cardholders’ accounts, historically, we have not been required to make payments under these and similar contingent obligations, and no liabilities have been recorded for these obligations in our consolidated balance sheets. For additional information regarding overdrafts on cardholders’ accounts, refer to Note 5 — Accounts Receivable.

Significant Retailer and Partner Concentration

12 Months Ended

Dec. 31, 2020

Significant Customer Concentrations [Abstract]

Significant Retailer and Partner Concentration

Revenue Concentrations

Revenues derived from our products sold at retail distributors constituting greater than 10% of our total operating revenues were as follows:


	Year Ended December 31,
	2020	2019	2018
Walmart	27%	34%	36%

Settlement Asset Concentrations

Settlement assets derived from our products sold at retail distributors constituting greater than 10% of the settlement assets outstanding on our consolidated balance sheets were as follows:


	December 31, 2020	December 31, 2019
Walmart	*	13%


*			Constitutes less than 10% for the period presented.

Regulatory Requirements

12 Months Ended

Dec. 31, 2020

Regulatory Requirements [Abstract]

Regulatory Requirements

Our subsidiary bank, Green Dot Bank, is a member bank of the Federal Reserve System and our primary regulator is the Federal Reserve Board. We and Green Dot Bank are subject to commitments that we have made to the Federal Reserve Board and the Utah Department of Financial Institutions. In addition, we and Green Dot Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory actions by regulators that, if undertaken, could have a direct material effect on our financial statements. Under capital adequacy guidelines, we and Green Dot Bank must meet specific capital guidelines that involve quantitative measures of the assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.

As of December 31, 2020 and 2019, we and Green Dot Bank were categorized as "well capitalized" under applicable regulatory standards. There were no conditions or events since December 31, 2020 which management believes would have caused us or Green Dot Bank not to be considered "well capitalized." Our capital ratios and related regulatory requirements were as follows:


	December 31, 2020
	Amount		Ratio		Regulatory Minimum		"Well-capitalized" Minimum
	(In thousands, except ratios)
Green Dot Corporation:
Tier 1 leverage	$	515,134	17.5	%	4.0	%	n/a
Common equity Tier 1 capital	$	515,134	57.8	%	4.5	%	n/a
Tier 1 capital	$	515,134	57.8	%	6.0	%	6.0	%
Total risk-based capital	$	518,358	58.2	%	8.0	%	10.0	%

Green Dot Bank:
Tier 1 leverage	$	253,895	10.1	%	4.0	%	5.0	%
Common equity Tier 1 capital	$	253,895	46.1	%	4.5	%	6.5	%
Tier 1 capital	$	253,895	46.1	%	6.0	%	8.0	%
Total risk-based capital	$	254,855	46.3	%	8.0	%	10.0	%

	December 31, 2019
	Amount		Ratio		Regulatory Minimum		"Well-capitalized" Minimum
	(In thousands, except ratios)
Green Dot Corporation:
Tier 1 leverage	$	400,445	22.2	%	4.0	%	n/a
Common equity Tier 1 capital	$	400,445	70.5	%	4.5	%	n/a
Tier 1 capital	$	400,445	70.5	%	6.0	%	6.0	%
Total risk-based capital	$	404,469	71.2	%	8.0	%	10.0	%

Green Dot Bank:
Tier 1 leverage	$	204,141	13.9	%	4.0	%	5.0	%
Common equity Tier 1 capital	$	204,141	82.8	%	4.5	%	6.5	%
Tier 1 capital	$	204,141	82.8	%	6.0	%	8.0	%
Total risk-based capital	$	205,548	83.4	%	8.0	%	10.0	%

- Definition

The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union.

+ References + Details

Segment Information

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment Information

Our operations are comprised of two reportable segments: 1) Account Services and 2) Processing and Settlement Services. We identified our reportable segments based on factors such as how we manage our operations and how our chief operating decision maker views results. Our chief operating decision maker organizes and manages our business primarily on the basis of product and service offerings and uses operating income to assess profitability.

The Account Services segment consists of revenues and expenses derived from our deposit account programs, such as prepaid cards, debit cards, consumer and small business checking accounts, secured credit cards, payroll debit cards and gift cards. These deposit account programs are marketed under several of our leading consumer brand names and under the brand names of our Banking as a Service, or "BaaS," partners. The Processing and Settlement Services segment consists of revenues and expenses derived from our products and services that specialize in facilitating the movement of cash on behalf of consumers and businesses, such as consumer cash processing services, wage disbursements and tax refund processing services. The Corporate and Other segment primarily consists of eliminations of intersegment revenues and expenses, unallocated corporate expenses, depreciation and amortization, and other costs that are not considered when management evaluates segment performance. We do not evaluate performance or allocate resources based on segment asset data, and therefore such information is not presented.

The following tables present certain financial information for each of our reportable segments for the periods then ended:


	Year Ended December 31, 2020
	Account Services		Processing and Settlement Services		Corporate and Other		Total
	(In thousands)
Operating revenues	$	980,314	$	298,423	$	(24,977)	$	1,253,760
Operating expenses	857,025		215,900		150,762		1,223,687
Operating income	$	123,289	$	82,523	$	(175,739)	$	30,073


	Year Ended December 31, 2019
	Account Services		Processing and Settlement Services		Corporate and Other		Total
	(In thousands)
Operating revenues	$	842,967	$	296,721	$	(31,093)	$	1,108,595
Operating expenses	696,409		202,713		86,555		985,677
Operating income	$	146,558	$	94,008	$	(117,648)	$	122,918


	Year Ended December 31, 2018
	Account Services		Processing and Settlement Services		Corporate and Other		Total
	(In thousands)
Operating revenues	$	843,905	$	253,360	$	(31,690)	$	1,065,575
Operating expenses	643,714		179,037		112,409		935,160
Operating income	$	200,191	$	74,323	$	(144,099)	$	130,415

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Paragraph 32
-Subparagraph (f)
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 32
-Subparagraph (e)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Principles of Consolidation and Basis of Presentation

Use of Estimates and Assumptions

Unrestricted Cash and Cash Equivalents

Unrestricted Cash and Cash Equivalents We consider all unrestricted highly liquid investments with an original maturity of three months or less to be unrestricted cash and cash equivalents.

Investment Securities

Note 2—Summary of Significant Accounting Policies (continued)

Interest on fixed income securities, including amortization of premiums and accretion of discounts, is included in interest income.

Obligations to Customers and Settlement Assets and Obligations

Accounts Receivable, net

Overdrawn Account Balances Due from Cardholders and Reserve for Uncollectible Overdrawn Accounts

Restricted Cash

Restricted CashAs of December 31, 2020 and 2019, restricted cash amounted to $4.9 million and $2.7 million, respectively. Restricted cash principally relates to pre-funding obligations for cardholder accounts at third-party issuing banks.

Loans to Bank Customers

Nonperforming Loans

Allowance for Credit Losses

Property and Equipment

Note 2—Summary of Significant Accounting Policies (continued)

The estimated useful lives of the respective classes of assets are as follows:


Land			N/A
Building			30 years
Computer equipment, furniture and office equipment			3-10 years
Computer software purchased			3 years
Capitalized internal-use software			3-7 years
Tenant improvements			Shorter of the useful life or the lease term

Leases

Impairment of Long-Lived Assets

Impairment of Long-Lived AssetsWe evaluate long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of expected undiscounted future cash flows from an asset is less than the carrying amount of the asset, we estimate the fair value of the assets. We measure the loss as the amount by which the carrying amount exceeds its fair value calculated using the present value of estimated net future cash flows. We recorded total impairment charges of $21.7 million, $0.6 million and $0.9 million for the years ended December 31, 2020, 2019 and 2018, respectively. Impairment charges for the year ended December 31, 2020 were principally associated with capitalized internal-use software, and our operating lease right-of-use assets and other tenant improvements we determined to no longer be utilized as a result of our remote workforce strategy. These impairment charges are included in other general and administrative expenses in our consolidated statements of operations.

Goodwill and Intangible Assets

Note 2—Summary of Significant Accounting Policies (continued)

No impairment charges were recognized related to goodwill or intangible assets for the years ended December 31, 2020, 2019 and 2018.

Amounts Due to Card Issuing Banks for Overdrawn Accounts

Amounts Due to Card Issuing Banks for Overdrawn AccountsThird-party card issuing banks fund overdrawn cardholder account balances on our behalf. Amounts funded are due from us to the card issuing banks based on terms specified in the agreements with the card issuing banks. Generally, we expect to settle these obligations within two months.

Fair Value

Revenue Recognition

Note 2—Summary of Significant Accounting Policies (continued)

A description of our principal revenue generating activities is as follows:

Card Revenues and Other Fees

Substantially all our fees are collected from our cardholders at the time the fees are assessed and debited from their account balance.

Processing and Settlement Service Revenues

Our processing and settlement services consist of cash transfer revenues, Simply Paid disbursement revenues, and tax refund processing service revenues.

Note 2—Summary of Significant Accounting Policies (continued)

Interchange

Principal vs Agent

For all our significant revenue-generating arrangements, we record revenues on a gross basis except for our tax refund processing service revenues which are recorded on a net basis.

Sales and Marketing Expenses

Stock-Based Compensation

Note 2—Summary of Significant Accounting Policies (continued)

Income Taxes

Earnings Per Common Share

Regulatory Matters and Capital Adequacy

Note 2—Summary of Significant Accounting Policies (continued)

Recently Issued Accounting Pronouncements Not Yet Adopted and Recently Adopted Accounting Pronouncements

Recent Accounting Pronouncements

Recently issued accounting pronouncements not yet adopted

ASU No. 2020-06

ASU No. 2020-04

Recently adopted accounting pronouncements

ASU No. 2019-12

ASU No. 2016-13

Note 2—Summary of Significant Accounting Policies (continued)

resulted in an adjustment of approximately $0.3 million, net of tax, to beginning retained earnings, the effect of which we do not consider material to our consolidated financial statements.

ASU No. 2017-14

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Schedule of Property and Equipment

The estimated useful lives of the respective classes of assets are as follows:


Land			N/A
Building			30 years
Computer equipment, furniture and office equipment			3-10 years
Computer software purchased			3 years
Capitalized internal-use software			3-7 years
Tenant improvements			Shorter of the useful life or the lease term

Property and equipment consisted of the following:


	December 31,
	2020		2019
	(In thousands)
Land	$	205	$	205
Building	605		605
Computer equipment, furniture, and office equipment	61,093		61,193
Computer software purchased	31,181		31,218
Capitalized internal-use software	237,792		227,137
Tenant improvements	5,037		14,435
	335,913		334,793
Less accumulated depreciation and amortization	(202,513)		(189,317)
Property and equipment, net	$	133,400	$	145,476

Revenues (Tables)

12 Months Ended

Dec. 31, 2020

Revenue from Contract with Customer [Abstract]

Schedule of Disaggregation of Revenue

The following table disaggregates our revenues by the timing in which the revenue is recognized:


	Year Ended December 31, 2020				Year Ended December 31, 2019				Year Ended December 31, 2018
	Account Services		Processing and Settlement Services		Account Services		Processing and Settlement Services		Account Services		Processing and Settlement Services
Timing of recognition	(In thousands)
Transferred point in time	$	482,553	$	293,216	$	489,696	$	287,052	$	500,629	$	247,942
Transferred over time	458,543		4,662		293,500		6,406		289,714		3,473
Operating revenues (1)	$	941,096	$	297,878	$	783,196	$	293,458	$	790,343	$	251,415


(1)			Excludes net interest income, a component of total operating revenues, as it remains outside the scope of ASC 606, Revenues

Investment Securities (Tables)

12 Months Ended

Dec. 31, 2020

Investment Securities [Abstract]

Schedule of Available-For-Sale Securities

Our available-for-sale investment securities were as follows:


	Amortized cost		Gross unrealized gains		Gross unrealized losses		Fair value
	(In thousands)
December 31, 2020
Corporate bonds	$	10,000	$	110	$	—	$	10,110


Agency bond securities	235,839		31		(1,713)		234,157
Agency mortgage-backed securities	686,108		5,258		(337)		691,029
Municipal bonds	29,977		524		—		30,501
Asset-backed securities	4,917		255		—		5,172
Total investment securities	$	966,841	$	6,178	$	(2,050)	$	970,969

December 31, 2019
Corporate bonds	$	10,000	$	12	$	—	$	10,012



Agency bond securities	19,980		20		—		20,000
Agency mortgage-backed securities	208,821		2,453		(241)		211,033
Municipal bonds	4,342		2		(2)		4,342
Asset-backed securities	31,814		238		—		32,052
Total investment securities	$	274,957	$	2,725	$	(243)	$	277,439

As of December 31, 2020 and 2019, 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 loss
	Fair value		Unrealized loss		Fair value		Unrealized loss
	(In thousands)
December 31, 2020

Agency bond securities	$	189,127	$	(1,713)	$	—	$	—	$	189,127	$	(1,713)
Agency mortgage-backed securities	162,579		(337)		—		—		162,579		(337)


Total investment securities	$	351,706	$	(2,050)	$	—	$	—	$	351,706	$	(2,050)

December 31, 2019




Agency mortgage-backed securities	$	43,337	$	(153)	$	8,735	$	(88)	$	52,072	$	(241)
Municipal bonds	—		—		113		(2)		113		(2)

Total investment securities	$	43,337	$	(153)	$	8,848	$	(90)	$	52,185	$	(243)

Schedule of Investments classified by contractual maturity date

As of December 31, 2020, the contractual maturities of our available-for-sale investment securities were as follows:


	Amortized cost		Fair value
	(In thousands)

Due after one year through five years	$	10,000	$	10,110
Due after five years through ten years	190,839		189,478
Due after ten years	74,977		75,180
Mortgage and asset-backed securities	691,025		696,201
Total investment securities	$	966,841	$	970,969

Accounts Receivable (Tables)

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Schedule of Accounts Receivable

Accounts receivable, net consisted of the following:


	December 31, 2020		December 31, 2019
	(In thousands)
Trade receivables	$	25,279	$	14,512
Reserve for uncollectible trade receivables	(315)		(202)
Net trade receivables	24,964		14,310

Overdrawn cardholder balances from purchase transactions	3,229		4,327
Reserve for uncollectible overdrawn accounts from purchase transactions	(1,653)		(3,398)
Net overdrawn cardholder balances from purchase transactions	1,576		929
Overdrawn cardholder balances from maintenance fees	3,165		2,235
Total net overdrawn account balances due from cardholders	4,741		3,164

Receivables due from card issuing banks	4,377		5,758
Fee advances, net	21,424		26,268
Other receivables	12,249		10,043
Accounts receivable, net	$	67,755	$	59,543

Activity in the reserve for uncollectible overdrawn accounts from purchase transactions consisted of the following:


	Year Ended December 31,
	2020		2019		2018
	(In thousands)
Balance, beginning of period	$	3,398	$	2,710	$	3,333
Provision for uncollectible overdrawn accounts from purchase transactions	7,684		6,641		12,442
Charge-offs	(9,429)		(5,953)		(13,065)
Balance, end of period	$	1,653	$	3,398	$	2,710

Loans to Bank Customers (Tables)

12 Months Ended

Dec. 31, 2020

Loans and Leases Receivable Disclosure [Abstract]

Schedule Past Due Financing Receivables

The following table presents total outstanding loans, gross of the related allowance for loan losses, and a summary of the related payment status:


	30-59 Days Past Due			60-89 Days Past Due			90 Days or More Past Due			Total Past Due			Total Current or Less Than 30 Days Past Due			Total Outstanding
	(In thousands)
December 31, 2020
Residential	$	—		$	—		$	—		$	—		$	3,008		$	3,008
Commercial	—			—			—			—			3,435			3,435
Installment	—			—			—			—			497			497
Secured credit card	864			699			1,363			2,926			11,902			14,828
Total loans	$	864		$	699		$	1,363		$	2,926		$	18,842		$	21,768

Percentage of outstanding	4.0		%	3.2		%	6.3		%	13.4		%	86.6		%	100.0		%

December 31, 2019
Residential	$	1		$	—		$	—		$	1		$	4,530		$	4,531
Commercial	—			—			—			—			158			158
Installment	1			—			—			1			1,246			1,247
Secured credit card	1,080			939			2,183			4,202			12,445			16,647
Total loans	$	1,082		$	939		$	2,183		$	4,204		$	18,379		$	22,583

Percentage of outstanding	4.8		%	4.2		%	9.7		%	18.6		%	81.4		%	100.0		%

Schedule of Nonperforming Loans


	December 31, 2020		December 31, 2019
	(In thousands)
Residential	$	240	$	290
Installment	137		147
Secured credit card	1,363		2,183
Total loans	$	1,740	$	2,620

Schedule of Financing Receivable Credit Quality Indicators

The table below presents the carrying value, gross of the related allowance for loan losses, of our loans within the primary credit quality indicators related to our loan portfolio:


	December 31, 2020				December 31, 2019
	Non-Classified		Classified		Non-Classified		Classified
	(In thousands)
Residential	$	2,768	$	240	$	4,241	$	290
Commercial	3,435		—		158		—
Installment	360		137		1,058		189
Secured credit card	13,465		1,363		14,464		2,183
Total loans	$	20,028	$	1,740	$	19,921	$	2,662

Schedule of Troubled Debt Restructurings

The following table presents our impaired loans and loans that we modified as TDRs as of December 31, 2020 and 2019:


	December 31, 2020				December 31, 2019
	Unpaid Principal Balance		Carrying Value		Unpaid Principal Balance		Carrying Value
	(In thousands)
Residential	$	240	$	180	$	290	$	221
Installment	137		103		160		48

Schedule of Allowance for Loan Losses

Activity in the allowance for loan losses consisted of the following:


	Year Ended December 31,
	2020		2019		2018
	(In thousands)
Balance, beginning of period	$	1,166	$	1,144	$	291
Provision for loans	859		2,405		3,094
Loans charged off	(1,697)		(2,674)		(2,657)
Recoveries of loans previously charged off	429		291		416
Balance, end of period	$	757	$	1,166	$	1,144

Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2020

Property and Equipment [Abstract]

Schedule of Property and Equipment

The estimated useful lives of the respective classes of assets are as follows:


Land			N/A
Building			30 years
Computer equipment, furniture and office equipment			3-10 years
Computer software purchased			3 years
Capitalized internal-use software			3-7 years
Tenant improvements			Shorter of the useful life or the lease term

Property and equipment consisted of the following:


	December 31,
	2020		2019
	(In thousands)
Land	$	205	$	205
Building	605		605
Computer equipment, furniture, and office equipment	61,093		61,193
Computer software purchased	31,181		31,218
Capitalized internal-use software	237,792		227,137
Tenant improvements	5,037		14,435
	335,913		334,793
Less accumulated depreciation and amortization	(202,513)		(189,317)
Property and equipment, net	$	133,400	$	145,476

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill and Intangible Assets

Goodwill and intangible assets on our consolidated balance sheets consisted of the following:


	December 31,
	2020		2019
	(In thousands)
Goodwill	$	301,790	$	301,790
Intangible assets, net	189,988		219,204
Goodwill and intangible assets	$	491,778	$	520,994

Schedule of Intangible Assets

The gross carrying amounts and accumulated amortization related to intangibles assets were as follows:


	December 31, 2020						December 31, 2019
	Gross Carrying Value		Accumulated Amortization		Net Book Value		Gross Carrying Value		Accumulated Amortization		Net Book Value		Weighted Average Useful Lives
	(In thousands)						(In thousands)						(Years)
Customer relationships	$	309,773	$	(150,445)	$	159,328	$	309,773	$	(126,167)	$	183,606	12.8
Trade names	44,086		(18,535)		25,551		44,086		(15,689)		28,397		14.6
Patents	3,000		(1,636)		1,364		3,000		(1,364)		1,636		11.0
Software licenses	5,595		(2,698)		2,897		4,832		(837)		3,995		3.0
Other	5,964		(5,116)		848		5,964		(4,394)		1,570		5.0
Total intangible assets	$	368,418	$	(178,430)	$	189,988	$	367,655	$	(148,451)	$	219,204

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

The following table shows our estimated amortization expense for intangible assets for each of the next five succeeding years and thereafter:


	December 31,
	(In thousands)
2021	$	28,863
2022	27,547
2023	26,418
2024	23,428
2025	17,435
Thereafter	66,297
Total	$	189,988

Deposits (Tables)

12 Months Ended

Dec. 31, 2020

Deposits [Abstract]

Schedule of Deposits

Deposits are categorized as non-interest or interest-bearing deposits as follows:


	December 31,
	2020		2019
	(In thousands)
Non-interest bearing deposit accounts	$	2,704,050	$	1,055,818
Interest-bearing deposit accounts
Checking accounts	5,060		95,995
Savings	8,505		6,619
GPR deposits	12,955		11,892
Time deposits, denominations greater than or equal to $100	3,767		3,854
Time deposits, denominations less than $100	779		1,163
Total interest-bearing deposit accounts	31,066		119,523
Total deposits	$	2,735,116	$	1,175,341

Schedule of Contractual Maturities For Total Time Deposits

The scheduled contractual maturities for total time deposits are presented in the table below:


	December 31,
	(In thousands)
Due in 2021	$	1,346
Due in 2022	1,451
Due in 2023	912
Due in 2024	458
Due in 2025	379
Total time deposits	$	4,546

Employee Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Share-based Payment Arrangement [Abstract]

Schedule of Stock-based Compensation Expense


	Year Ended December 31,
	2020		2019		2018
	(In thousands)
Total stock-based compensation expense	$	53,694	$	29,583	$	50,093
Related income tax benefit	6,573		5,143		3,783

Schedule of Stock Options and Restricted Stock Units Granted

The following table summarizes restricted stock units with only service conditions granted under our 2010 Equity Incentive Plan:


	Year Ended December 31,
	2020		2019		2018
	(In thousands, except per share data)
Restricted stock units granted	1,618		238		452
Weighted-average grant-date fair value	$	31.12	$	38.93	$	74.33

The following table summarizes the performance-based restricted stock units granted under our 2010 Equity Incentive Plan:


	Year Ended December 31,
	2020		2019		2018
	(In thousands, except per share data)
Performance restricted stock units granted	1,045		722		276
Weighted-average grant-date fair value	$	33.15	$	48.45	$	71.70

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

Restricted stock unit activity for the year ended December 31, 2020 was as follows:


	Shares	Weighted-Average Grant-Date Fair Value
	(In thousands, except per share data)
Outstanding at December 31, 2019	888	$	47.20
Restricted stock units granted	1,618	31.12
Restricted stock units vested	(616)	34.51
Restricted stock units canceled	(668)	38.57
Outstanding at December 31, 2020	1,222	$	36.24

Performance-based restricted stock unit activity for the year ended December 31, 2020 was as follows:


	Shares	Weighted-Average Grant-Date Fair Value
	(In thousands, except per share data)
Outstanding at December 31, 2019	854	$	54.63
Performance restricted stock units granted (at target)	1,045	$	33.15
Performance restricted stock units vested	(258)	$	50.33
Performance restricted stock units canceled	(695)	$	48.72

Outstanding at December 31, 2020	946	$	35.62

Schedule of Weighted-Average Assumptions Used to Estimate Stock Option Fair Value

The following table summarizes our market-based stock options granted:


	Year Ended December 31,
	2020
	(In thousands, except per share data)
Stock options granted	2,250
Weighted-average exercise price	$	31.30
Weighted-average grant-date fair value	$	14.57


	Year Ended December 31,
	2020
Risk-free interest rate	0.63	%
Expected term (in years)	3.30
Expected dividends	—
Expected volatility	53.8	%

Schedule of Stock Option Activity

Total stock option activity for the year ended December 31, 2020 was as follows:


	Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Life (in Years)	Aggregate Intrinsic Value
	(In thousands, except per share data and years)
Outstanding at December 31, 2019	181	$	20.09
Options granted	2,250	31.30
Options exercised	(404)	26.13
Options canceled	(393)	28.37
Outstanding at December 31, 2020	1,634	$	32.04	5.99	$	38,836
Exercisable at December 31, 2020	134	22.95		2.06	$	4,411

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense

The components of income tax expense included in our consolidated statements of operations were as follows:


	Year Ended December 31,
	2020		2019		2018
	(In thousands)
Current:
Federal	$	15,846	$	11,914	$	4,011
State	3,650		1,790		894
Foreign	471		604		443
Current income tax expense	19,967		14,308		5,348
Deferred:
Federal	(11,212)		8,102		1,136
State	(3,722)		(1,226)		(1,370)
Foreign	(69)		—		—
Deferred income tax (benefit) expense	(15,003)		6,876		(234)
Income tax expense	$	4,964	$	21,184	$	5,114

Schedule of Reconciliation of Effective Tax Rate

The sources and tax effects of the differences are as follows:


	Year Ended December 31,
	2020		2019		2018
U.S. federal statutory tax rate	21.0	%	21.0	%	21.0	%
State income taxes, net of federal tax benefit	(2.0)		0.1		(0.5)
General business credits	(10.9)		(2.1)		(2.2)
Employee stock-based compensation	(7.7)		(2.2)		(17.1)
Tax Cuts and Jobs Act remeasurement	—		—		0.2
Non-deductible executive compensation	17.2		0.1		2.2
Capital loss valuation allowance release	(1.1)		—		—
Non-deductible penalties	1.1		—		—
Other	0.1		0.6		0.5
Effective tax rate	17.7	%	17.5	%	4.1	%

Schedule of Deferred Tax Assets and Liabilities

The tax effects of temporary difference that give rise to significant portions of our deferred tax assets and liabilities were as follows:


	December 31,
	2020		2019
	(In thousands)
Deferred tax assets:
Net operating loss carryforwards	$	7,882	$	8,002
Stock-based compensation	7,651		5,820
Reserve for overdrawn accounts	7,661		4,456
Accrued liabilities	15,080		7,965
Lease liabilities	4,763		8,195
Tax credit carryforwards	10,035		8,723
Capital loss carryforwards	—		341
Other	543		—
Gross deferred tax assets	53,615		43,502
Valuation allowance	—		(341)
Total deferred tax assets	$	53,615	$	43,161
Deferred tax liabilities:
Internal-use software costs	$	29,149	$	29,382
Property and equipment, net	1,003		2,240
Deferred expenses	4,544		4,114
Intangible assets	10,009		7,826
Gift card revenue	1,389		1,422
Lease right-of-use assets	1,974		6,524
Other	—		388
Total deferred tax liabilities	48,068		51,896
Net deferred tax assets (liabilities)	$	5,547	$	(8,735)

Schedule of Income Tax Contingencies

The reconciliation of the beginning unrecognized tax benefits balance to the ending balance is as follows:


	Year Ended December 31,
	2020		2019		2018
	(In thousands)
Beginning balance	$	8,398	$	6,965	$	5,560
Increases related to positions taken during prior years	482		313		462
Increases related to positions taken during the current year	1,500		1,576		1,607

Decreases due to a lapse of applicable statute of limitations	(862)		(456)		(664)
Ending balance	$	9,518	$	8,398	$	6,965

The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate	$	9,424	$	8,341	$	6,918

Earnings per Common Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Common Share

The calculation of basic and diluted EPS was as follows:


	Year Ended December 31,
	2020		2019		2018
	(In thousands, except per share data)
Basic earnings per Class A common share
Numerator:
Net income	$	23,131	$	99,897	$	118,703
Amount attributable to unvested Walmart restricted shares	(346)		—		—
Net income allocated to Class A common stockholders	$	22,785	$	99,897	$	118,703
Denominator:
Weighted-average Class A shares issued and outstanding	52,438		52,195		52,222
Basic earnings per Class A common share	$	0.43	$	1.91	$	2.27

Diluted earnings per Class A common share
Numerator:
Net income allocated to Class A common stockholders	$	22,785	$	99,897	$	118,703
Re-allocated earnings	8		—		—
Diluted net income allocated to Class A common stockholders	$	22,793	$	99,897	$	118,703
Denominator:
Weighted-average Class A shares issued and outstanding	52,438		52,195		52,222
Dilutive potential common shares:
Stock options	233		114		327
Service based restricted stock units	708		361		1,135
Performance-based restricted stock units	306		440		796
Employee stock purchase plan	—		28		1
Diluted weighted-average Class A shares issued and outstanding	53,685		53,138		54,481
Diluted earnings per Class A common share	$	0.42	$	1.88	$	2.18

Schedule of Antidilutive Shares

Additionally, we have excluded any performance-based restricted stock units and performance-based stock options where the performance contingency has not been met as of the end of the period, or whereby the result of including such awards was anti-dilutive.

The following table shows the weighted-average number of anti-dilutive shares excluded from the diluted EPS calculation:


	Year Ended December 31,
	2020	2019	2018
	(In thousands)
Class A common stock
Options to purchase Class A common stock	731	—	—
Service based restricted stock units	101	354	20
Performance-based restricted stock units	301	459	143
Unvested Walmart restricted shares	796	—	—
Total	1,929	813	163

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Assets Carried at Fair Value on a Recurring Basis

As of December 31, 2020 and 2019, our assets and liabilities carried at fair value on a recurring basis were as follows:


	Level 1		Level 2		Level 3		Total Fair Value
December 31, 2020	(In thousands)
Assets
Corporate bonds	$	—	$	10,110	$	—	$	10,110


Agency bond securities	—		234,157		—		234,157
Agency mortgage-backed securities	—		691,029		—		691,029
Municipal bonds	—		30,501		—		30,501
Asset-backed securities	—		5,172		—		5,172
Total assets	$	—	$	970,969	$	—	$	970,969

Liabilities
Contingent consideration	$	—	$	—	$	5,300	$	5,300

December 31, 2019
Assets
Corporate bonds	$	—	$	10,012	$	—	$	10,012



Agency bond securities	—		20,000		—		20,000
Agency mortgage-backed securities	—		211,033		—		211,033
Municipal bonds	—		4,342		—		4,342
Asset-backed securities	—		32,052		—		32,052
Total assets	$	—	$	277,439	$	—	$	277,439

Liabilities
Contingent consideration	$	—	$	—	$	9,300	$	9,300

Schedule of Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation

The following table presents changes in our contingent consideration payable for the years ended December 31, 2020, 2019 and 2018, which is categorized in Level 3 of the fair value hierarchy:


	Year Ended December 31,
	2020		2019		2018
	(In thousands)
Balance, beginning of period	$	9,300	$	15,800	$	17,358

Payments of contingent consideration	(4,000)		(4,634)		(4,856)
Change in fair value of contingent consideration	—		(1,866)		3,298
Balance, end of period	$	5,300	$	9,300	$	15,800

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Assets Not Carried at Fair Value


	December 31, 2020				December 31, 2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
	(In thousands)
Financial Assets
Loans to bank customers, net of allowance	$	21,011	$	20,421	$	21,417	$	19,563

Financial Liabilities
Deposits	$	2,735,116	$	2,735,072	$	1,175,341	$	1,175,298
Line of credit	$	—	$	—	$	35,000	$	35,000

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Schedule of Supplement Lease Information

Supplemental information related to our ROU assets and related lease liabilities is as follows:


	Year Ended December 31,
	2020			2019


Cash paid for operating lease liabilities (in thousands)	$	9,910		$	8,850
Weighted average remaining lease term (years)	3.3			4.1
Weighted average discount rate	4.8		%	4.7		%

Schedule of Maturities of Operating Lease Liabilities

Maturities of our operating lease liabilities as of December 31, 2020 is as follows:


	Operating Leases
	(In thousands)
2021	$	9,715
2022	8,805
2023	3,500
2024	3,464
2025	1,732
	27,216
Less: imputed interest	(2,645)
Total lease liabilities	$	24,571

Significant Retailer and Partner Concentration (Tables)

12 Months Ended

Dec. 31, 2020

Significant Customer Concentrations [Abstract]

Schedule of Customer Concentrations

Revenues derived from our products sold at retail distributors constituting greater than 10% of our total operating revenues were as follows:


	Year Ended December 31,
	2020	2019	2018
Walmart	27%	34%	36%

Settlement Asset Concentrations

Settlement assets derived from our products sold at retail distributors constituting greater than 10% of the settlement assets outstanding on our consolidated balance sheets were as follows:


	December 31, 2020	December 31, 2019
Walmart	*	13%


*			Constitutes less than 10% for the period presented.

Regulatory Requirements (Tables)

12 Months Ended

Dec. 31, 2020

Regulatory Requirements [Abstract]

Schedule of Compliance with Regulatory Capital Requirements

Our capital ratios and related regulatory requirements were as follows:


	December 31, 2020
	Amount		Ratio		Regulatory Minimum		"Well-capitalized" Minimum
	(In thousands, except ratios)
Green Dot Corporation:
Tier 1 leverage	$	515,134	17.5	%	4.0	%	n/a
Common equity Tier 1 capital	$	515,134	57.8	%	4.5	%	n/a
Tier 1 capital	$	515,134	57.8	%	6.0	%	6.0	%
Total risk-based capital	$	518,358	58.2	%	8.0	%	10.0	%

Green Dot Bank:
Tier 1 leverage	$	253,895	10.1	%	4.0	%	5.0	%
Common equity Tier 1 capital	$	253,895	46.1	%	4.5	%	6.5	%
Tier 1 capital	$	253,895	46.1	%	6.0	%	8.0	%
Total risk-based capital	$	254,855	46.3	%	8.0	%	10.0	%

	December 31, 2019
	Amount		Ratio		Regulatory Minimum		"Well-capitalized" Minimum
	(In thousands, except ratios)
Green Dot Corporation:
Tier 1 leverage	$	400,445	22.2	%	4.0	%	n/a
Common equity Tier 1 capital	$	400,445	70.5	%	4.5	%	n/a
Tier 1 capital	$	400,445	70.5	%	6.0	%	6.0	%
Total risk-based capital	$	404,469	71.2	%	8.0	%	10.0	%

Green Dot Bank:
Tier 1 leverage	$	204,141	13.9	%	4.0	%	5.0	%
Common equity Tier 1 capital	$	204,141	82.8	%	4.5	%	6.5	%
Tier 1 capital	$	204,141	82.8	%	6.0	%	8.0	%
Total risk-based capital	$	205,548	83.4	%	8.0	%	10.0	%

Segment Information (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of Reportable Segments

The following tables present certain financial information for each of our reportable segments for the periods then ended:


	Year Ended December 31, 2020
	Account Services		Processing and Settlement Services		Corporate and Other		Total
	(In thousands)
Operating revenues	$	980,314	$	298,423	$	(24,977)	$	1,253,760
Operating expenses	857,025		215,900		150,762		1,223,687
Operating income	$	123,289	$	82,523	$	(175,739)	$	30,073


	Year Ended December 31, 2019
	Account Services		Processing and Settlement Services		Corporate and Other		Total
	(In thousands)
Operating revenues	$	842,967	$	296,721	$	(31,093)	$	1,108,595
Operating expenses	696,409		202,713		86,555		985,677
Operating income	$	146,558	$	94,008	$	(117,648)	$	122,918


	Year Ended December 31, 2018
	Account Services		Processing and Settlement Services		Corporate and Other		Total
	(In thousands)
Operating revenues	$	843,905	$	253,360	$	(31,690)	$	1,065,575
Operating expenses	643,714		179,037		112,409		935,160
Operating income	$	200,191	$	74,323	$	(144,099)	$	130,415

Summary of Significant Accounting Policies - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2020
Lessee, Lease, Description [Line Items]
Allowance for doubtful accounts receivable, write-offs, average recovery period	6 months
Allowance for doubtful accounts receivable, write-offs activity period	90 days
Restricted cash	$ 4,859,000	$ 2,728,000	$ 490,000
Nonaccrual status threshold	90
Collateral deposits applied threshold	90
Balance in excess of collateral balance charged off threshold	180 days
Asset impairment charges	$ 21,700,000	600,000	900,000
Impairment of intangible assets	0	0	0
Impairment of goodwill	$ 0	0	0
Months to settle overdrawn accounts	2 months
GPR, average useful life	1 year
Gift card, average useful life	1 year
Advertising and marketing expenses	$ 37,500,000	51,100,000	23,200,000
Shipping and handling costs	1,500,000	1,500,000	$ 2,000,000.0
Retained earnings	$ 651,890,000	$ 629,040,000
Cumulative Effect, Period of Adoption, Adjustment
Lessee, Lease, Description [Line Items]
Retained earnings				$ 300,000

Summary of Significant Accounting Policies - Estimated Useful Lives (Details)	12 Months Ended
	Dec. 31, 2020
Building
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	30 years
Computer equipment \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	3 years
Computer equipment \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	10 years
Computer software purchased
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	3 years
Capitalized internal-use software \| Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	3 years
Capitalized internal-use software \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	7 years
Customer Relationships and Trade Names \| Minimum
Property, Plant and Equipment [Line Items]
Finite-lived intangible asset, estimated useful lives	3 years
Customer Relationships and Trade Names \| Maximum
Property, Plant and Equipment [Line Items]
Finite-lived intangible asset, estimated useful lives	15 years

Revenues - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Revenues - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Contract liabilities	$ 25.9	$ 31.8	$ 28.7

Revenues - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Account Services
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	$ 941,096	$ 783,196	$ 790,343
Processing and Settlement Services
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	297,878	293,458	251,415
Transferred point in time \| Account Services
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	482,553	489,696	500,629
Transferred point in time \| Processing and Settlement Services
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	293,216	287,052	247,942
Transferred over time \| Account Services
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	458,543	293,500	289,714
Transferred over time \| Processing and Settlement Services
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	$ 4,662	$ 6,406	$ 3,473

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Investment Securities - Gross Gains and Losses (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized cost	$ 966,841	$ 274,957
Gross unrealized gains	6,178	2,725
Gross unrealized losses	(2,050)	(243)
Fair value	970,969	277,439
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized cost	10,000	10,000
Gross unrealized gains	110	12
Gross unrealized losses	0	0
Fair value	10,110	10,012
Agency bond securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	235,839	19,980
Gross unrealized gains	31	20
Gross unrealized losses	(1,713)	0
Fair value	234,157	20,000
Agency mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	686,108	208,821
Gross unrealized gains	5,258	2,453
Gross unrealized losses	(337)	(241)
Fair value	691,029	211,033
Municipal bonds
Debt Securities, Available-for-sale [Line Items]
Amortized cost	29,977	4,342
Gross unrealized gains	524	2
Gross unrealized losses	0	(2)
Fair value	30,501	4,342
Asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized cost	4,917	31,814
Gross unrealized gains	255	238
Gross unrealized losses	0	0
Fair value	$ 5,172	$ 32,052

Investment Securities - Continuous Unrealized Loss (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair value
Less than 12 months	$ 351,706,000	$ 43,337,000
12 months or more	0	8,848,000
Total fair value	351,706,000	52,185,000
Unrealized loss
Less than 12 months	(2,050,000)	(153,000)
12 months or more	0	(90,000)
Total unrealized loss	(2,050,000)	(243,000)
OTTI loss	0	0
Sale of investment securities	5,100,000
Agency bond securities
Fair value
Less than 12 months	189,127,000
12 months or more	0
Total fair value	189,127,000
Unrealized loss
Less than 12 months	(1,713,000)
12 months or more	0
Total unrealized loss	(1,713,000)
Agency mortgage-backed securities
Fair value
Less than 12 months	162,579,000	43,337,000
12 months or more	0	8,735,000
Total fair value	162,579,000	52,072,000
Unrealized loss
Less than 12 months	(337,000)	(153,000)
12 months or more	0	(88,000)
Total unrealized loss	$ (337,000)	(241,000)
Municipal bonds
Fair value
Less than 12 months		0
12 months or more		113,000
Total fair value		113,000
Unrealized loss
Less than 12 months		0
12 months or more		(2,000)
Total unrealized loss		$ (2,000)

Investment Securities - Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale, Amortized Cost, Fiscal Year Maturity [Abstract]
Due after one year through five, amortized cost basis	$ 10,000
Due after five years through ten years, amortized cost basis	190,839
Due after ten years, amortized cost basis	74,977
Asset-backed securities, amortized cost basis	691,025
Amortized cost	966,841	$ 274,957
Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract]
Due after one year through five, fair value	10,110
Due after five years through ten years, fair value	189,478
Due after ten years, fair value	75,180
Mortgage and asset-backed securities	696,201
Fair value	$ 970,969	$ 277,439

Accounts Receivable - Accounts Receivable (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, net	$ 67,755	$ 59,543
Trade receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	25,279	14,512
Allowance for doubtful accounts	(315)	(202)
Accounts receivable, net	24,964	14,310
Overdrawn cardholder balances from purchase transactions
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	3,229	4,327
Allowance for doubtful accounts	(1,653)	(3,398)	$ (2,710)	$ (3,333)
Accounts receivable, net	1,576	929
Overdrawn cardholder balances from maintenance fees
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, net	3,165	2,235
Total net overdrawn account balances due from cardholders
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, net	4,741	3,164
Receivables due from card issuing banks
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	4,377	5,758
Fee advances, net
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	21,424	26,268
Other receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 12,249	$ 10,043

Accounts Receivable - Reserve For Uncollectible Overdrawn Accounts Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Uncollectible Overdrawn Accounts [Roll Forward]
Provision for uncollectible overdrawn accounts from purchase transactions	$ 7,684	$ 6,641	$ 12,442
Reserve for uncollectible overdrawn accounts from purchase transactions
Uncollectible Overdrawn Accounts [Roll Forward]
Balance, beginning of period	3,398	2,710	3,333
Provision for uncollectible overdrawn accounts from purchase transactions	7,684	6,641	12,442
Charge-offs	(9,429)	(5,953)	(13,065)
Balance, end of period	$ 1,653	$ 3,398	$ 2,710

Loans to Bank Customers - Loan Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due 30 days or more	$ 2,926	$ 4,204
Total Current or Less Than 30 Days Past Due	18,842	18,379
Total Outstanding	$ 21,768	$ 22,583
Percentage of outstanding	100.00%	100.00%
30-59 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due 30 days or more	$ 864	$ 1,082
Percentage of outstanding	4.00%	4.80%
60-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due 30 days or more	$ 699	$ 939
Percentage of outstanding	3.20%	4.20%
90 Days or More Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due 30 days or more	$ 1,363	$ 2,183
Percentage of outstanding	6.30%	9.70%
Total Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of outstanding	13.40%	18.60%
Total Current or Less Than 30 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of outstanding	86.60%	81.40%
Residential
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due 30 days or more	$ 0	$ 1
Total Current or Less Than 30 Days Past Due	3,008	4,530
Total Outstanding	3,008	4,531
Residential \| 30-59 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due 30 days or more	0	1
Residential \| 60-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due 30 days or more	0	0
Residential \| 90 Days or More Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due 30 days or more	0	0
Commercial
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due 30 days or more	0	0
Total Current or Less Than 30 Days Past Due	3,435	158
Total Outstanding	3,435	158
Commercial \| 30-59 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due 30 days or more	0	0
Commercial \| 60-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due 30 days or more	0	0
Commercial \| 90 Days or More Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due 30 days or more	0	0
Installment
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due 30 days or more	0	1
Total Current or Less Than 30 Days Past Due	497	1,246
Total Outstanding	497	1,247
Installment \| 30-59 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due 30 days or more	0	1
Installment \| 60-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due 30 days or more	0	0
Installment \| 90 Days or More Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due 30 days or more	0	0
Secured credit card
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due 30 days or more	2,926	4,202
Total Current or Less Than 30 Days Past Due	11,902	12,445
Total Outstanding	14,828	16,647
Secured credit card \| 30-59 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due 30 days or more	864	1,080
Secured credit card \| 60-89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due 30 days or more	699	939
Secured credit card \| 90 Days or More Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Past due 30 days or more	$ 1,363	$ 2,183

Loans to Bank Customers - Nonperforming Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Nonperforming Loans [Line Items]
Nonperforming loans	$ 1,740	$ 2,620
Residential
Nonperforming Loans [Line Items]
Nonperforming loans	240	290
Installment
Nonperforming Loans [Line Items]
Nonperforming loans	137	147
Secured credit card
Nonperforming Loans [Line Items]
Nonperforming loans	$ 1,363	$ 2,183

Loans to Bank Customers - Credit Quality Indicators (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Non-Classified
Outstanding Loans [Line Items]
Total loans	$ 20,028	$ 19,921
Classified
Outstanding Loans [Line Items]
Total loans	1,740	2,662
Residential \| Non-Classified
Outstanding Loans [Line Items]
Total loans	2,768	4,241
Residential \| Classified
Outstanding Loans [Line Items]
Total loans	240	290
Commercial \| Non-Classified
Outstanding Loans [Line Items]
Total loans	3,435	158
Commercial \| Classified
Outstanding Loans [Line Items]
Total loans	0	0
Installment \| Non-Classified
Outstanding Loans [Line Items]
Total loans	360	1,058
Installment \| Classified
Outstanding Loans [Line Items]
Total loans	137	189
Secured credit card \| Non-Classified
Outstanding Loans [Line Items]
Total loans	13,465	14,464
Secured credit card \| Classified
Outstanding Loans [Line Items]
Total loans	$ 1,363	$ 2,183

Loans to Bank Customers - Troubled Debt Restructurings (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Residential
Loan Modifications [Line Items]
Unpaid Principal Balance	$ 240	$ 290
Carrying Value	180	221
Installment
Loan Modifications [Line Items]
Unpaid Principal Balance	137	160
Carrying Value	$ 103	$ 48

Loans to Bank Customers - Allowance for Loan Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Allowance for Loan Losses [Roll Forward]
Allowance for loan losses, beginning of period	$ 1,166	$ 1,144	$ 291
Provision for loans	859	2,405	3,094
Loans charged off	(1,697)	(2,674)	(2,657)
Recoveries of loans previously charged off	429	291	416
Allowance for loan losses, end of period	$ 757	$ 1,166	$ 1,144

Equity Method Investment - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jan. 02, 2020
Schedule of Equity Method Investments [Line Items]
Losses in equity method investments	$ 6,290	$ 0	$ 0
Walmart Program Agreement
Schedule of Equity Method Investments [Line Items]
Capital contributions, authorized amount				$ 35,000
Tail Fin Labs
Schedule of Equity Method Investments [Line Items]
Equity method investments	28,800
Losses in equity method investments	$ 7,000
Tail Fin Labs \| Walmart Program Agreement
Schedule of Equity Method Investments [Line Items]
Ownership percentage				20.00%

Property and Equipment - Property and Equipment Schedule (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Property and equipment	$ 335,913	$ 334,793
Less accumulated depreciation and amortization	(202,513)	(189,317)
Property and equipment, net	133,400	145,476
Land
Property, Plant and Equipment [Line Items]
Property and equipment	205	205
Building
Property, Plant and Equipment [Line Items]
Property and equipment	605	605
Computer equipment, furniture, and office equipment
Property, Plant and Equipment [Line Items]
Property and equipment	61,093	61,193
Computer software purchased
Property, Plant and Equipment [Line Items]
Property and equipment	31,181	31,218
Capitalized internal-use software
Property, Plant and Equipment [Line Items]
Property and equipment	237,792	227,137
Tenant improvements
Property, Plant and Equipment [Line Items]
Property and equipment	$ 5,037	$ 14,435

Property and Equipment - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Capitalized computer software, net	$ 117,600	$ 119,900
Depreciation and amortization expense	58,000	49,500	$ 38,600
Depreciation and amortization expense	58,005	49,489	38,581
Tangible asset impairment	14,700	600	900
Capitalized internal-use software
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 43,900	$ 35,100	$ 25,500

Goodwill and Intangible Assets - Goodwill and Intangible Assets Summary (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 301,790,000	$ 301,790,000
Intangible assets, net	189,988,000	219,204,000
Goodwill and intangible assets	491,778,000	520,994,000
Impairment of goodwill	$ 0	$ 0	$ 0

Goodwill and Intangible Assets - Intangible Assets Summary (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 368,418,000	$ 367,655,000
Accumulated Amortization	(178,430,000)	(148,451,000)
Net Book Value	189,988,000	219,204,000
Amortization of intangible assets	28,119,000	32,616,000	$ 32,761,000
impairment of intangible assets	0	0
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	309,773,000	309,773,000
Accumulated Amortization	(150,445,000)	(126,167,000)
Net Book Value	$ 159,328,000	183,606,000
Weighted Average Useful Lives	12 years 9 months 18 days
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 44,086,000	44,086,000
Accumulated Amortization	(18,535,000)	(15,689,000)
Net Book Value	$ 25,551,000	28,397,000
Weighted Average Useful Lives	14 years 7 months 6 days
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 3,000,000	3,000,000
Accumulated Amortization	(1,636,000)	(1,364,000)
Net Book Value	$ 1,364,000	1,636,000
Weighted Average Useful Lives	11 years
Software licenses
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 5,595,000	4,832,000
Accumulated Amortization	(2,698,000)	(837,000)
Net Book Value	$ 2,897,000	3,995,000
Weighted Average Useful Lives	3 years
Other
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 5,964,000	5,964,000
Accumulated Amortization	(5,116,000)	(4,394,000)
Net Book Value	$ 848,000	$ 1,570,000
Weighted Average Useful Lives	5 years

Goodwill and Intangible Assets - Intangible Assets Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Estimated Amortization Expense, Next Five Years [Abstract]
2021	$ 28,863
2022	27,547
2023	26,418
2024	23,428
2025	17,435
Thereafter	66,297
Net Book Value	$ 189,988	$ 219,204

Deposits - Summary of Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Non-interest bearing deposit accounts
Non-interest bearing deposit accounts	$ 2,704,050	$ 1,055,818
Interest-bearing deposit accounts
Checking accounts	5,060	95,995
Savings	8,505	6,619
GPR deposits	12,955	11,892
Time deposits, denominations greater than or equal to $100	3,767	3,854
Time deposits, denominations less than $100	779	1,163
Total interest-bearing deposit accounts	31,066	119,523
Total deposits	$ 2,735,116	$ 1,175,341

Deposits - Contractual Maturities (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Deposits [Abstract]
Due in 2021	$ 1,346
Due in 2022	1,451
Due in 2023	912
Due in 2024	458
Due in 2025	379
Total time deposits	4,546
Time deposits, at or above FDIC insurance limit	$ 2,000

Debt - Narrative (Details) - USD ($)	1 Months Ended			12 Months Ended
Debt - Narrative (Details) - USD ($)	Oct. 31, 2019	Mar. 31, 2019	Oct. 31, 2014	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Line of Credit Facility [Line Items]
Repayments of notes payable				$ 0	$ 60,000,000	$ 22,500,000
Senior Credit Facility \| Bank of America, Wells Fargo Bank, and Other Lenders
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 225,000,000.0
Interest expense				$ 600,000	$ 600,000	$ 3,500,000
Senior Credit Facility \| Bank of America, Wells Fargo Bank, and Other Lenders \| Base Rate, Condition One
Line of Credit Facility [Line Items]
Margin included in variable base rate	0.50%
Senior Credit Facility \| Bank of America, Wells Fargo Bank, and Other Lenders \| Base Rate, Condition Two
Line of Credit Facility [Line Items]
Margin included in variable base rate	1.00%
Senior Credit Facility \| Wells Fargo Bank \| Base Rate \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable base rate	0.25%
Senior Credit Facility \| Wells Fargo Bank \| Base Rate \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable base rate	1.00%
Senior Credit Facility \| Wells Fargo Bank \| LIBOR \| Minimum
Line of Credit Facility [Line Items]
Basis spread on variable base rate	1.25%
Senior Credit Facility \| Wells Fargo Bank \| LIBOR \| Maximum
Line of Credit Facility [Line Items]
Basis spread on variable base rate	2.00%
Revolving Credit Facility \| Minimum
Line of Credit Facility [Line Items]
Commitment fee				0.20%
Revolving Credit Facility \| Maximum
Line of Credit Facility [Line Items]
Commitment fee				0.35%
Revolving Credit Facility \| Senior Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 100,000,000.0
Facility term	5 years
Revolving Credit Facility \| Senior Credit Facility \| Bank of America, Wells Fargo Bank, and Other Lenders
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 75,000,000.0
Facility term			5 years
Secured Debt \| Senior Credit Facility \| Bank of America, Wells Fargo Bank, and Other Lenders
Line of Credit Facility [Line Items]
Maximum borrowing capacity			$ 150,000,000.0
Facility term			5 years
Repayments of notes payable		$ 60,000,000.0

Stockholders' Equity - Narrative (Details)	1 Months Ended	12 Months Ended
Stockholders' Equity - Narrative (Details)	Mar. 31, 2019 $ / shares shares	Dec. 31, 2020 USD ($) vote shares	Dec. 31, 2019 USD ($) shares	Dec. 31, 2018 USD ($)	Jan. 02, 2020 shares	Jun. 30, 2019 USD ($)	May 31, 2017 USD ($)
Class of Stock [Line Items]
Tax impact on unrealized losses and gains on investment securities available-for-sale \| $		$ 300,000	$ 800,000	$ 100,000
Treasury stock acquired (in shares) \| shares	2,100,000
Average repurchase price per share (in USD per share) \| $ / shares	$ 48.26
Common stock, shares, issued (in shares) \| shares		54,034,000	51,807,000
Common Class A
Class of Stock [Line Items]
Votes per share (in votes) \| vote		1
Voting threshold (more than)		24.90%
Reduced voting power (more than)		14.90%
Authorized amount \| $							$ 150,000,000
Remaining authorized amount \| $		$ 50,000,000
Common Class A \| Accelerated Share Repurchase Agreement
Class of Stock [Line Items]
Authorized amount \| $						$ 100,000,000
Common Class A \| Private Placement \| Walmart Program Agreement
Class of Stock [Line Items]
Common stock, shares, issued (in shares) \| shares					975,000
Common stock, shares, issued and unvested (in shares) \| shares					650,000

Employee Stock-Based Compensation - Narrative (Details) - USD ($) shares in Millions, $ in Millions	1 Months Ended	12 Months Ended
	Jun. 30, 2010	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercises in period, total intrinsic value		$ 10.5	$ 2.4	$ 36.2
Total compensation cost not yet recognized, stock options		$ 13.7
Period for recognition, restricted stock		2 years 7 months 6 days
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested in period, total fair value		$ 25.6	30.9	67.5
Total compensation cost not yet recognized, stock options		53.4
Performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested in period, total fair value		$ 12.4	$ 22.7	$ 45.1
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement period		1 year 3 months 18 days
2010 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Number of shares available for grant		4.7
2010 Equity Incentive Plan \| Performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		4 years
2010 Equity Incentive Plan \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award expiration period	5 years
2010 Equity Incentive Plan \| Minimum \| Performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target share percentage		0.00%
2010 Equity Incentive Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award expiration period	10 years
2010 Equity Incentive Plan \| Maximum \| Performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target share percentage		200.00%
2010 Equity Incentive Plan-Executive Employees \| Stock options \| Executive Officer
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Award expiration period		7 years
Performance period		5 years

Employee Stock-Based Compensation - Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Payment Arrangement [Abstract]
Employee stock-based compensation	$ 53,694	$ 29,583	$ 50,093
Related income tax benefit	$ 6,573	$ 5,143	$ 3,783

Employee Stock-Based Compensation - Equity Granted (Details) - $ / shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant-date fair value (in USD per share)	$ 33.15
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average grant-date fair value (in USD per share)	$ 31.12
2010 Equity Incentive Plan \| Performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units granted (in shares)	1,045	722	276
Weighted-average grant-date fair value (in USD per share)	$ 33.15	$ 48.45	$ 71.70
2010 Equity Incentive Plan \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock units granted (in shares)	1,618	238	452
Weighted-average grant-date fair value (in USD per share)	$ 31.12	$ 38.93	$ 74.33

Employee Stock-Based Compensation - Restricted and Performance Stock Units Granted (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-Option equity instruments outstanding, beginning balance (in shares) \| shares	888
Non-Option equity instruments, granted (in shares) \| shares	1,618
Non-Option equity instruments, exercised (in shares) \| shares	(616)
Non-Option equity instruments, forfeitures and expirations (in shares) \| shares	(668)
Non-Option equity instruments outstanding, ending balance (in shares) \| shares	1,222
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Equity instruments other than options, nonvested, weighted average grant date fair value (in USD per share) \| $ / shares	$ 47.20
Equity instruments other than options, grants in period, weighted average grant date fair value (in USD per share) \| $ / shares	31.12
Equity instruments other than options, vested in period, weighted average grant date fair value (in USD per share) \| $ / shares	34.51
Equity instruments other than options, forfeitures, weighted average grant date fair value (in USD per share) \| $ / shares	38.57
Equity instruments other than options, nonvested, weighted average grant date fair value (in USD per share) \| $ / shares	$ 36.24
Performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-Option equity instruments outstanding, beginning balance (in shares) \| shares	854
Non-Option equity instruments, granted (in shares) \| shares	1,045
Non-Option equity instruments, exercised (in shares) \| shares	(258)
Non-Option equity instruments, forfeitures and expirations (in shares) \| shares	(695)
Non-Option equity instruments outstanding, ending balance (in shares) \| shares	946
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Equity instruments other than options, nonvested, weighted average grant date fair value (in USD per share) \| $ / shares	$ 54.63
Equity instruments other than options, grants in period, weighted average grant date fair value (in USD per share) \| $ / shares	33.15
Equity instruments other than options, vested in period, weighted average grant date fair value (in USD per share) \| $ / shares	50.33
Equity instruments other than options, forfeitures, weighted average grant date fair value (in USD per share) \| $ / shares	48.72
Equity instruments other than options, nonvested, weighted average grant date fair value (in USD per share) \| $ / shares	$ 35.62

Employee Stock-Based Compensation - Option Activity (Details) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($) $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding, beginning balance (in shares) \| shares	181
Options, granted (in shares) \| shares	2,250
Options, exercised in period (in shares) \| shares	(404)
Options, canceled in period (in shares) \| shares	(393)
Options outstanding, ending balance (in shares) \| shares	1,634
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Abstract]
Options outstanding, beginning balance, weighted average exercise price (in USD per share) \| $ / shares	$ 20.09
Options, granted in period, weighted average granted price (in USD per share) \| $ / shares	31.30
Options, exercises in period, weighted average exercise price (in USD per share) \| $ / shares	26.13
Options, canceled in period, weighted average canceled price (in USD per share) \| $ / shares	28.37
Options outstanding, ending balance, weighted average exercise price (in USD per share) \| $ / shares	$ 32.04
Options, exercisable (in shares) \| shares	134
Options, exercisable, weighted average exercise price (in USD per share) \| $ / shares	$ 22.95
Options, outstanding, weighted average remaining contractual term	5 years 11 months 26 days
Options, exercisable, weighted average remaining contractual term	2 years 21 days
Options, outstanding, intrinsic value \| $	$ 38,836
Options, exercisable, intrinsic value \| $	$ 4,411

Employee Stock-Based Compensation - Granted Activity (Details) shares in Thousands	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based stock options granted (in shares) \| shares	2,250
Weighted-average exercise price (in USD per share)	$ 31.30
2010 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance-based stock options granted (in shares) \| shares	2,250
Weighted-average exercise price (in USD per share)	$ 31.30
Weighted-average grant-date fair value (in USD per share)	$ 14.57

Employee Stock-Based Compensation - Fair Value Assumptions (Details) - 2010 Equity Incentive Plan - Stock options	12 Months Ended
	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	0.63%
Expected term (in years)	3 years 3 months 18 days
Expected dividends	0.00%
Expected volatility	53.80%

Income Taxes - Schedule of Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal	$ 15,846	$ 11,914	$ 4,011
State	3,650	1,790	894
Foreign	471	604	443
Current income tax expense	19,967	14,308	5,348
Deferred:
Federal	(11,212)	8,102	1,136
State	(3,722)	(1,226)	(1,370)
Foreign	(69)	0	0
Deferred income tax (benefit) expense	(15,003)	6,876	(234)
Income tax expense	$ 4,964	$ 21,184	$ 5,114

Income Taxes - Effective Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
U.S. federal statutory tax rate	21.00%	21.00%	21.00%
State income taxes, net of federal tax benefit	(2.00%)	0.10%	(0.50%)
General business credits	(10.90%)	(2.10%)	(2.20%)
Employee stock-based compensation	(7.70%)	(2.20%)	(17.10%)
Tax Cuts and Jobs Act remeasurement	0.00%	0.00%	0.20%
Non-deductible executive compensation	17.20%	0.10%	2.20%
Capital loss valuation allowance release	(1.10%)	0.00%	0.00%
Non-deductible penalties	1.10%	0.00%	0.00%
Other	0.10%	0.60%	0.50%
Effective tax rate	17.70%	17.50%	4.10%

Income Taxes - Schedule of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Net operating loss carryforwards	$ 7,882	$ 8,002
Stock-based compensation	7,651	5,820
Reserve for overdrawn accounts	7,661	4,456
Accrued liabilities	15,080	7,965
Lease liabilities	4,763	8,195
Tax credit carryforwards	10,035	8,723
Capital loss carryforwards	0	341
Deferred Tax Assets, Other	543	0
Gross deferred tax assets	53,615	43,502
Valuation allowance	0	(341)
Total deferred tax assets	53,615	43,161
Deferred tax liabilities:
Internal-use software costs	29,149	29,382
Property and equipment, net	1,003	2,240
Deferred expenses	4,544	4,114
Intangible assets	10,009	7,826
Gift card revenue	1,389	1,422
Lease right-of-use assets	1,974	6,524
Other	0	388
Total deferred tax liabilities	48,068	51,896
Net deferred tax assets (liabilities)	$ 5,547
Net deferred tax assets (liabilities)		$ (8,735)

Income Taxes - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Loss Carryforwards [Line Items]
Unrecognized tax benefits	$ 9,518	$ 8,398	$ 6,965	$ 5,560
Income tax penalties and interest accrued	500	$ 500	$ 300
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	19,200
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	68,800
State and Local Jurisdiction \| Tax Year 2021-2039
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	46,600
State and Local Jurisdiction \| Indefinitely
Operating Loss Carryforwards [Line Items]
Operating loss carryforwards	22,200
State and Local Jurisdiction \| Latest Tax Year
Operating Loss Carryforwards [Line Items]
Tax credit carryforward	17,300
State and Local Jurisdiction \| Tax Year 2023-2027
Operating Loss Carryforwards [Line Items]
Tax credit carryforward	$ 1,100
Minimum \| State and Local Jurisdiction \| Internal Revenue Service (IRS)
Operating Loss Carryforwards [Line Items]
Income tax examination, period	4 years
Maximum \| State and Local Jurisdiction \| Internal Revenue Service (IRS)
Operating Loss Carryforwards [Line Items]
Income tax examination, period	5 years

Income Taxes - Rollforward of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 8,398	$ 6,965	$ 5,560
Increases related to positions taken during prior years	482	313	462
Increases related to positions taken during the current year	1,500	1,576	1,607
Decreases due to a lapse of applicable statute of limitations	(862)	(456)	(664)
Ending balance	9,518	8,398	6,965
The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate	$ 9,424	$ 8,341	$ 6,918

Earnings per Common Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income	$ 23,131	$ 99,897	$ 118,703
Net income allocated to Class A common stockholders	$ 22,785	$ 99,897	$ 118,703
Weighted-average Class A shares issued and outstanding (in shares)	52,438	52,195	52,222
Basic earnings per common share (in USD per share)	$ 0.43	$ 1.91	$ 2.27
Re-allocated earnings	$ 8	$ 0	$ 0
Diluted net income allocated to Class A common stockholders	$ 22,793	$ 99,897	$ 118,703
Diluted weighted-average Class A shares issued and outstanding (in shares)	53,685	53,138	54,481
Diluted earnings per common share (in USD per share)	$ 0.42	$ 1.88	$ 2.18
Common Stock Other Than Class A Member
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income allocated to Class A common stockholders	$ (346)	$ 0	$ 0
Common Class A
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Net income allocated to Class A common stockholders	$ 22,785	$ 99,897	$ 118,703
Stock options
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Dilutive potential common shares (in shares)	233	114	327
Service based restricted stock units
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Dilutive potential common shares (in shares)	708	361	1,135
Performance-based restricted stock units
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Dilutive potential common shares (in shares)	306	440	796
Employee stock purchase plan
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Dilutive potential common shares (in shares)	0	28	1

Earnings per Common Share - Antidilutive Shares (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Antidilutive Shares [Line Items]
Antidilutive shares (in shares)	1,929	813	163
Stock options
Antidilutive Shares [Line Items]
Antidilutive shares (in shares)	731	0	0
Service based restricted stock units
Antidilutive Shares [Line Items]
Antidilutive shares (in shares)	101	354	20
Performance-based restricted stock units
Antidilutive Shares [Line Items]
Antidilutive shares (in shares)	301	459	143
Unvested Walmart restricted shares
Antidilutive Shares [Line Items]
Antidilutive shares (in shares)	796	0	0

Fair Value Measurements - Contingent Consideration Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Payments of contingent consideration	$ (4,000)	$ (4,634)	$ (4,856)
Change in fair value of contingent consideration	0	1,866	(3,298)
Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value measurement, beginning of period	9,300	15,800	17,358
Payments of contingent consideration	(4,000)	(4,634)	(4,856)
Change in fair value of contingent consideration	0	(1,866)	3,298
Fair value measurement, end of period	$ 5,300	$ 9,300	$ 15,800

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans to bank customers, net of allowance	$ 21,011	$ 21,417
Deposits	2,735,116	1,175,341
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans to bank customers, net of allowance	21,011	21,417
Deposits	2,735,116	1,175,341
Line of credit	0	35,000
Level 3 \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans to bank customers, net of allowance	20,421	19,563
Level 2 \| Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Deposits	2,735,072	1,175,298
Line of credit	$ 0	$ 35,000

Concentrations of Credit Risk (Details)	12 Months Ended
Concentrations of Credit Risk (Details)	Dec. 31, 2020
UTAH
Concentration Risk [Line Items]
Concentration risk	92.30%
Provo, Utah
Concentration Risk [Line Items]
Concentration risk	42.30%

Defined Contribution Plan (Details) $ in Millions	12 Months Ended
Defined Contribution Plan (Details) $ in Millions	Dec. 31, 2020 USD ($) yr	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Defined Contribution Plan [Abstract]
Minimum age (in years) \| yr	21
Defined contribution plan, employer matching contribution, percent of match	50.00%
Defined contribution plan, maximum annual contribution per employee	5.00%
Defined contribution plan, cost \| $	$ 2.2	$ 2.2	$ 1.7

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Lessee, Lease, Description [Line Items]
Operating lease, impairment loss	$ 7.0
Operating lease expense		$ 9.2	$ 11.3	$ 7.6
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 year	1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	5 years	5 years

Leases - Supplemental information related to our ROU assets and related lease liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Cash paid for operating lease liabilities (in thousands)	$ 9,910	$ 8,850
Weighted average remaining lease term (years)	3 years 3 months 18 days	4 years 1 month 6 days
Weighted average discount rate	4.80%	4.70%

Leases - Maturities of Operating Leases (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Operating Leases
2021	$ 9,715
2022	8,805
2023	3,500
2024000	3,464
2025000	1,732
Payments due	27,216
Less: imputed interest	(2,645)
Total lease liabilities	$ 24,571

Commitments and Contingencies - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Jan. 02, 2020	Dec. 31, 2019
Loss Contingencies [Line Items]
Loss contingency accrual	$ 0
Walmart Program Agreement
Loss Contingencies [Line Items]
Capital contributions, authorized amount		$ 35,000,000.0
Recurring
Loss Contingencies [Line Items]
Contingent consideration	5,300,000		$ 9,300,000
Level 3 \| Recurring
Loss Contingencies [Line Items]
Contingent consideration	5,300,000		$ 9,300,000
UniRush, LLC
Loss Contingencies [Line Items]
Contingent consideration, earn-out payable	$ 4,000,000
Contingent consideration, earn-out period (in years)	5 years

Significant Retailer and Partner Concentration (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Partner Concentration Risk \| Sales Revenue, Net
Concentration Risk [Line Items]
Concentration risk	13.00%
Walmart \| Customer Concentration Risk \| Sales Revenue, Net
Concentration Risk [Line Items]
Concentration risk	27.00%	34.00%	36.00%
Walmart \| Customer Concentration Risk \| Accounts Receivable
Concentration Risk [Line Items]
Concentration risk		13.00%

Regulatory Requirements (Details) $ in Thousands	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Green Dot Corporation
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier one leverage capital	$ 515,134	$ 400,445
Tier one leverage capital to average assets	0.175	0.222
Tier one leverage capital required to be well capitalized	0.040	0.040
Tier one common equity	$ 515,134	$ 400,445
Tier one common equity to average assets	57.80%	70.50%
Tier one common equity required for capital adequacy to average assets	4.50%	4.50%
Tier one risk based capital	$ 515,134	$ 400,445
Tier one risk based capital to risk weighted assets	0.578	0.705
Tier one risk based capital required to be well capitalized	0.060	0.060
Tier one risk based capital required to be well capitalized to risk weighted assets	0.060	0.060
Capital	$ 518,358	$ 404,469
Capital to risk weighted assets	0.582	0.712
Capital required to be well capitalized	0.080	0.080
Capital required to be well capitalized to risk weighted assets	0.100	0.100
Green Dot Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Tier one leverage capital	$ 253,895	$ 204,141
Tier one leverage capital to average assets	0.101	0.139
Tier one leverage capital required to be well capitalized	0.040	0.040
Tier one leverage capital required to be well capitalized to average assets	0.050	0.050
Tier one common equity	$ 253,895	$ 204,141
Tier one common equity to average assets	46.10%	82.80%
Tier one common equity required for capital adequacy to average assets	4.50%	4.50%
Tier one common equity capital required to be well capitalized to average assets	6.50%	6.50%
Tier one risk based capital	$ 253,895	$ 204,141
Tier one risk based capital to risk weighted assets	0.461	0.828
Tier one risk based capital required to be well capitalized	0.060	0.060
Tier one risk based capital required to be well capitalized to risk weighted assets	0.080	0.080
Capital	$ 254,855	$ 205,548
Capital to risk weighted assets	0.463	0.834
Capital required to be well capitalized	0.080	0.080
Capital required to be well capitalized to risk weighted assets	0.100	0.100

Segment Information (Details) $ in Thousands	12 Months Ended
Segment Information (Details) $ in Thousands	Dec. 31, 2020 USD ($) segment	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments (in segments) \| segment	2
Operating revenues	$ 1,253,760	$ 1,108,595	$ 1,065,575
Operating expenses	1,223,687	985,677	935,160
Operating income	30,073	122,918	130,415
Operating Segments \| Account Services
Segment Reporting Information [Line Items]
Operating revenues	980,314	842,967	843,905
Operating expenses	857,025	696,409	643,714
Operating income	123,289	146,558	200,191
Operating Segments \| Processing and Settlement Services
Segment Reporting Information [Line Items]
Operating revenues	298,423	296,721	253,360
Operating expenses	215,900	202,713	179,037
Operating income	82,523	94,008	74,323
Corporate and Other
Segment Reporting Information [Line Items]
Operating revenues	(24,977)	(31,093)	(31,690)
Operating expenses	150,762	86,555	112,409
Operating income	$ (175,739)	$ (117,648)	$ (144,099)

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 28
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=75031198&loc=d3e14064-108612

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
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-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227

+ Details

Fair Value Measurements - Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	$ 970,969	$ 277,439
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	10,110	10,012
Agency bond securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	234,157	20,000
Agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	691,029	211,033
Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	30,501	4,342
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	5,172	32,052
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	970,969	277,439
Contingent consideration	5,300	9,300
Recurring \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	10,110	10,012
Recurring \| Agency bond securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	234,157	20,000
Recurring \| Agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	691,029	211,033
Recurring \| Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	30,501	4,342
Recurring \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	5,172	32,052
Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	0	0
Contingent consideration	0	0
Recurring \| Level 1 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	0	0
Recurring \| Level 1 \| Agency bond securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	0	0
Recurring \| Level 1 \| Agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	0	0
Recurring \| Level 1 \| Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	0	0
Recurring \| Level 1 \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	0	0
Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	970,969	277,439
Contingent consideration	0	0
Recurring \| Level 2 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	10,110	10,012
Recurring \| Level 2 \| Agency bond securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	234,157	20,000
Recurring \| Level 2 \| Agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	691,029	211,033
Recurring \| Level 2 \| Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	30,501	4,342
Recurring \| Level 2 \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	5,172	32,052
Recurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	0	0
Contingent consideration	5,300	9,300
Recurring \| Level 3 \| Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	0	0
Recurring \| Level 3 \| Agency bond securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	0	0
Recurring \| Level 3 \| Agency mortgage-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	0	0
Recurring \| Level 3 \| Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	0	0
Recurring \| Level 3 \| Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale debt securities	$ 0	$ 0