Green Dot Corp - GDOT STOCK NEWS

Green Dot (NYSE: GDOT) has scheduled its first quarter 2025 earnings announcement for Thursday, May 8th, 2025. The company will release its financial results after market close, followed by a conference call and earnings webcast at 5:00 p.m. ET.

Investors and interested parties can access the live webcast through Green Dot's investor relations website at http://ir.greendot.com/. A replay of the webcast will be made available on the same platform after the call.

Green Dot Bank (NYSE: GDOT) has received an 'Outstanding' Community Reinvestment Act (CRA) rating from the Federal Reserve, the highest possible rating. The bank excelled in both Combined Lending and Investment Goals and Service Goals.

Key achievements highlighted in the Federal Reserve's report include:

• Outstanding levels of small business loans and community development investments supporting affordable housing
• Exceptional community development services providing financial education and technical assistance
• Zero CRA performance-related complaints during the review period

The rating covers the 2021-2023 examination period, evaluating Green Dot's performance in Utah and Juab counties. The bank focused on affordable housing initiatives and financial literacy programs, including job skills training for homeless populations and financial education in Title 1 schools.

Green Dot (NYSE: GDOT) has announced two significant developments: a strategic review process and a leadership transition. The company has engaged Citi to explore potential strategic alternatives, though no specific outcome or timeline has been guaranteed.

In a major leadership change, William I Jacobs, the current Board Chairperson, has been appointed interim CEO effective March 7, 2025. Additionally, Chris Ruppel, the company's Chief Revenue Officer since November 2022, will serve as interim President of Green Dot and interim CEO/President of Green Dot Bank. These appointments follow the departure of George Gresham from his positions as CEO and President.

Jacobs brings extensive experience in payments and financial services, having previously served as interim CEO from January to March 2020. Ruppel's background includes managing Green Dot's direct-to-consumer business, focusing on GO2bank, and leading the PayCard business and earned wage access solution development.

Green Dot (NYSE: GDOT) has appointed Kim Olson as Chief Risk Officer, reporting directly to CEO George Gresham. Olson will oversee the company's risk management strategy and program execution.

Olson joins from Discover Financial Services where she served as Head of the Office of Remediation since November 2023, managing enterprise remediation of regulatory matters. With over 30 years of financial services experience, she has held positions as chief risk officer and senior risk oversight roles at global banking organizations.

Her career began at the Federal Reserve Bank of New York, where she held senior positions in banking supervision, policy, and regulation. The appointment aims to strengthen Green Dot's risk management foundation to support long-term growth and success.

Green Dot (NYSE: GDOT) has appointed Kim Olson as Chief Risk Officer, reporting directly to CEO George Gresham. Olson will oversee the company's risk management strategy and program execution.

Olson joins from Discover Financial Services where she served as Head of the Office of Remediation since November 2023, managing enterprise remediation of regulatory matters. She brings over 30 years of financial services experience, having held chief risk officer and senior risk oversight roles at global banking organizations.

Her career began at the Federal Reserve Bank of New York, where she held senior positions in banking supervision, policy, and regulation. The appointment aims to strengthen Green Dot's compliance and risk management foundation to support long-term growth.

Green Dot (NYSE: GDOT) and Marqeta, Inc. (NASDAQ: MQ) have announced a strategic collaboration to enhance cash services across the United States. The partnership leverages Green Dot's extensive network of over 95,000 retail locations nationwide, enabling convenient cash deposits for Marqeta's customers.

The collaboration addresses the persistent demand for cash services, particularly among low-to-moderate income (LMI) and mature consumers aged 55-plus, who still prefer cash transactions according to Federal Reserve data. Through this partnership, customers can access cash deposit services at major retailers including Walmart, Walgreens, 7-Eleven, and CVS.

The Green Dot Network, powered by Arc, provides comprehensive coverage with 96% of the U.S. population living within three miles of a service location. This initiative aims to bridge the digital divide while offering affordable financial services, particularly beneficial in underbanked communities where traditional banks are reducing their physical presence.

Green Dot (NYSE: GDOT) reported its Q4 2024 results, marking its first positive quarter of account growth in over three years. The company's performance was characterized by accelerated revenue and earnings growth, particularly in B2B and embedded finance businesses.

The company secured new partnerships with Varo, Clip Money, DolFintech and others, demonstrating growing demand in embedded finance. Unencumbered cash stood at $86 million as of December 31, 2024.

For 2025 guidance, Green Dot projects:

• Non-GAAP total operating revenues between $1.85-1.90 billion (up ~10% YoY)
• Adjusted EBITDA between $145-155 million (down ~9% YoY)
• Non-GAAP EPS between $1.05-1.20 (down 18% YoY)

DolFinTech, a major private money transfer company, has partnered with Green Dot (NYSE: GDOT) to offer new direct deposit accounts powered by Green Dot's embedded finance platform, Arc.

This collaboration will provide Hispanic and underserved communities access to seamless banking services at over 5,500 locations nationwide. DolFinTech currently serves outbound remittance markets in the U.S., Canada, and Spain, reaching more than 20 destination countries through 500 company stores, 5,000 retail agent locations, and digital channels.

The new banking accounts will feature benefits like early access to direct deposits and overdraft protection, addressing the needs of America's unbanked (4.5% of households) and underbanked (14.1%) populations according to FDIC data.

Arc by Green Dot provides FDIC-insured banking products, regulatory expertise, and comprehensive services including customer support, fraud protection, and access to the largest retail deposit and ATM network in the U.S.

Green Dot (NYSE: GDOT) has announced it will release its fourth quarter 2024 financial results on February 27th, 2025, after market close, followed by a conference call and earnings webcast at 5:00 p.m. ET. The company has also confirmed the relocation of its headquarters to Provo, Utah, effective January 1, 2025, where Green Dot Bank is currently based.

CEO George Gresham stated that the headquarters relocation aims to streamline corporate and bank operations, supporting their priority of operational excellence, while maintaining their existing growth strategy and focus.