Document_And_Entity_Informatio
Document And Entity Information Document (USD $) | 12 Months Ended | |||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Jun. 30, 2013 | Jan. 31, 2014 | Jan. 31, 2014 |
Common Class A [Member] | Common Class B [Member] | |||
Entity Information [Line Items] | ' | ' | ' | ' |
Entity Registrant Name | 'GREEN DOT CORP | ' | ' | ' |
Trading Symbol | 'GDOT | ' | ' | ' |
Entity Central Index Key | '0001386278 | ' | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' | ' |
Document Type | '10-K | ' | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' | ' |
Document Fiscal Period Focus | 'Q4 | ' | ' | ' |
Amendment Flag | 'false | ' | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' | ' |
Entity Voluntary Filers | 'No | ' | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' | ' |
Entity Public Float | ' | $635.10 | ' | ' |
Entity Common Stock, Shares Outstanding | ' | ' | 37,797,987 | 0 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Unrestricted cash and cash equivalents | $423,498 | $293,590 |
Federal funds sold | 123 | 3,001 |
Investment securities available-for-sale, at fair-value | 116,159 | 115,244 |
Settlement assets | 37,004 | 36,127 |
Accounts receivable, net | 46,384 | 40,441 |
Prepaid expenses and other assets | 27,332 | 31,952 |
Income Taxes Receivable | 15,573 | 7,386 |
Net deferred tax assets, current | 0 | 2,478 |
Total current assets | 666,073 | 530,219 |
Restricted cash | 2,970 | 634 |
Investment securities available-for-sale, at fair value, noncurrent | 82,585 | 68,543 |
Accounts receivable, net, noncurrent | 5,913 | 10,931 |
Loans to bank customers, net of allowance for loan losses of $464 and $475 as of December 31, 2013 and December 31, 2012, respectively | 6,902 | 7,552 |
Prepaid expenses and other assets | 1,081 | 1,530 |
Property and equipment, net | 60,473 | 58,376 |
Deferred expenses | 15,439 | 12,510 |
Net deferred tax assets, noncurrent | 3,362 | 4,629 |
Goodwill and intangible assets | 30,676 | 30,804 |
Total assets | 875,474 | 725,728 |
Current liabilities: | ' | ' |
Accounts payable | 34,940 | 31,411 |
Deposits | 219,580 | 198,451 |
Obligations to customers | 65,449 | 46,156 |
Settlement obligations | 4,839 | 3,639 |
Amounts due to card issuing banks for overdrawn accounts | 49,930 | 50,724 |
Other accrued liabilities | 35,878 | 29,469 |
Deferred revenue | 24,517 | 19,557 |
Deferred tax liabilities, current | 3,716 | 0 |
Total current liabilities | 438,849 | 379,407 |
Other accrued liabilities | 34,076 | 18,557 |
Deferred revenue, noncurrent | 300 | 0 |
Total liabilities | 473,225 | 397,964 |
Stockholders equity: | ' | ' |
Additional paid-in capital | 199,251 | 158,656 |
Retained earnings | 203,000 | 168,960 |
Accumulated other comprehensive income | -47 | 106 |
Total stockholders' equity | 402,249 | 327,764 |
Total liabilities and stockholdersb equity | 875,474 | 725,728 |
Convertible Series A preferred stock [Member] | ' | ' |
Stockholders equity: | ' | ' |
Convertible Series A preferred stock, $0.001 par value: 10 shares authorized and 0 shares issued and outstanding as of December 31, 2013 and December 31, 2012, respectively | 7 | 7 |
Class A common stock, $0.001 par value; 100,000 shares authorized as of June 30, 2013 and December 31, 2012, respectively; 32,513 and 31,798 shares issued and outstanding as of June 30, 2013 and December 31, 2012, respectively | ' | ' |
Stockholders equity: | ' | ' |
Common Stock, Value, Issued | 38 | 31 |
Class B convertible common stock, $0.001 par value, 100,000 shares authorized as of June 30, 2013 and December 31, 2012, respectively; 3,909 and 4,197 shares issued and outstanding as of June 30, 2013 and December 31, 2012, respectively | ' | ' |
Stockholders equity: | ' | ' |
Common Stock, Value, Issued | $0 | $4 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Allowance For Loan Losses | $464 | $475 |
Convertible Series A preferred stock [Member] | ' | ' |
Convertible Series A Preferred Stock, par value | $0.00 | $0.00 |
Convertible Series A Preferred Stock, shares authorized | 10,000 | 10,000 |
Convertible Series A Preferred Stock, Shares Issued | 7,000 | 7,000 |
Convertible Series A Preferred Stock, Shares Outstanding | 7,000 | 7,000 |
Common Class A [Member] | ' | ' |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common Stock, Shares, Issued | 37,729,000 | 31,798,000 |
Common stock, shares outstanding | 37,729,000 | 31,798,000 |
Common Class B [Member] | ' | ' |
Common stock, par value | $0.00 | $0.00 |
Common stock, shares authorized | 0 | 100,000,000 |
Common Stock, Shares, Issued | 0 | 4,197,000 |
Common stock, shares outstanding | 0 | 4,197,000 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating revenues | ' | ' | ' |
Card revenues and other fees | $227,227 | $224,745 | $209,489 |
Cash transfer revenues | 183,359 | 165,232 | 134,143 |
Interchange revenues | 171,757 | 164,559 | 141,103 |
Stock-based retailer incentive compensation (Amount) | -8,722 | -8,251 | -17,337 |
Total operating revenues | 573,621 | 546,285 | 467,398 |
Operating expenses | ' | ' | ' |
Sales and marketing expenses | 218,370 | 209,870 | 168,747 |
Compensation and benefits expenses | 127,287 | 114,930 | 87,671 |
Processing expenses | 89,856 | 77,445 | 70,953 |
Other General and Administrative Expense | 88,976 | 71,900 | 56,578 |
Total operating expenses | 524,489 | 474,145 | 383,949 |
Operating Income (Loss) | 49,132 | 72,140 | 83,449 |
Interest income | 3,440 | 4,074 | 910 |
Interest expense | -72 | -76 | -346 |
Income before income taxes | 52,500 | 76,138 | 84,013 |
Income Tax Expense (Benefit) | 18,460 | 28,919 | 31,930 |
Net Income | 34,040 | 47,219 | 52,083 |
Income attributable to preferred stock | -5,360 | -7,599 | -558 |
Net income allocated to common stockholders | $28,680 | $39,620 | $51,525 |
Common Class A [Member] | ' | ' | ' |
Earnings per common share | ' | ' | ' |
Basic earnings per common share | $0.78 | $1.11 | $1.24 |
Diluted Earnings Per Share | $0.76 | $1.07 | $1.19 |
Weighted-average common shares issued and outstanding | ' | ' | ' |
Basic | 33,272 | 29,698 | 22,238 |
Diluted | 37,156 | 35,933 | 42,065 |
Common Class B [Member] | ' | ' | ' |
Earnings per common share | ' | ' | ' |
Basic earnings per common share | $0.78 | $1.11 | $1.24 |
Diluted Earnings Per Share | $0.76 | $1.07 | $1.19 |
Weighted-average common shares issued and outstanding | ' | ' | ' |
Basic | 2,603 | 4,801 | 17,718 |
Diluted | 2,603 | 6,150 | 19,822 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net Income | $34,040 | $47,219 | $52,083 |
Other comprehensive income (loss) [Abstract] | ' | ' | ' |
Unrealized holding (losses) gains, net of tax | -153 | 76 | 30 |
Comprehensive income | $33,887 | $47,295 | $52,113 |
Consolidated_Statements_of_Cha
Consolidated Statements of Changes in Stockholders' Equity Statement (USD $) | 3 Months Ended | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
Total stockholders' equity | $402,249 | $327,764 | $402,249 | $327,764 | $253,196 | $165,131 |
Common stock issued under stock plans and related tax effects (Shares) | ' | ' | 1,428 | ' | ' | ' |
Common stock issued under stock plans and related tax effects (Amount) | ' | ' | 17,173 | 6,288 | 9,091 | ' |
Stock-based compensation (Amount) | ' | ' | 14,703 | 12,734 | 9,524 | ' |
Stock-based retailer incentive compensation (Amount) | ' | ' | 8,722 | 8,251 | 17,337 | ' |
Conversion of Class B common stock by stockholders (Amount) | ' | ' | 0 | 0 | 0 | ' |
Net Income | 1,036 | 10,370 | 34,040 | 47,219 | 52,083 | ' |
Other Comprehensive Income (Loss), Net of Tax | ' | ' | -153 | 76 | 30 | ' |
Convertible Preferred Stock [Member] | ' | ' | ' | ' | ' | ' |
Shares, Outstanding | 0 | 0 | 0 | 0 | ' | 0 |
Total stockholders' equity | 7 | 7 | 7 | 7 | 7 | 0 |
Common stock issued under stock plans and related tax effects (Shares) | ' | ' | 0 | 0 | 0 | ' |
Common stock issued under stock plans and related tax effects (Amount) | ' | ' | 0 | 0 | 0 | ' |
Stock-based compensation (Shares) | ' | ' | 0 | 0 | 0 | ' |
Stock-based compensation (Amount) | ' | ' | 0 | 0 | 0 | ' |
Stock-based retailer incentive compensation (Shares) | ' | ' | 0 | 0 | 0 | ' |
Stock-based retailer incentive compensation (Amount) | ' | ' | 0 | 0 | 0 | ' |
Conversion of Class B common stock by stockholders (Shares) | ' | ' | 0 | 0 | -7 | ' |
Conversion of Class B common stock by stockholders (Amount) | ' | ' | 0 | 0 | -7 | ' |
Other Comprehensive Income (Loss), Net of Tax | ' | ' | 0 | 0 | 0 | ' |
Common Stock [Member] | Common Class A [Member] | ' | ' | ' | ' | ' | ' |
Shares, Outstanding | 37,729 | 31,798 | 37,729 | 31,798 | 30,162 | 14,762 |
Total stockholders' equity | 38 | 31 | 38 | 31 | 30 | 13 |
Common stock issued under stock plans and related tax effects (Shares) | ' | ' | 620 | 141 | 104 | ' |
Common stock issued under stock plans and related tax effects (Amount) | ' | ' | 1 | 0 | 2 | ' |
Stock-based compensation (Shares) | ' | ' | 0 | 0 | 0 | ' |
Stock-based compensation (Amount) | ' | ' | 0 | 0 | 0 | ' |
Stock-based retailer incentive compensation (Shares) | ' | ' | 0 | 0 | 0 | ' |
Stock-based retailer incentive compensation (Amount) | ' | ' | 0 | 0 | 0 | ' |
Conversion of Class B common stock by stockholders (Shares) | ' | ' | -5,311 | -1,495 | -15,296 | ' |
Conversion of Class B common stock by stockholders (Amount) | ' | ' | -6 | -1 | -15 | ' |
Other Comprehensive Income (Loss), Net of Tax | ' | ' | 0 | 0 | 0 | ' |
Common Stock [Member] | Common Class B [Member] | ' | ' | ' | ' | ' | ' |
Shares, Outstanding | 0 | 4,197 | 0 | 4,197 | 5,280 | 27,091 |
Total stockholders' equity | 0 | 4 | 0 | 4 | 5 | 27 |
Common stock issued under stock plans and related tax effects (Shares) | ' | ' | 1,114 | 412 | 344 | ' |
Common stock issued under stock plans and related tax effects (Amount) | ' | ' | 2 | 0 | 0 | ' |
Stock-based compensation (Shares) | ' | ' | 0 | 0 | 0 | ' |
Stock-based compensation (Amount) | ' | ' | 0 | 0 | 0 | ' |
Stock-based retailer incentive compensation (Shares) | ' | ' | 0 | 0 | 0 | ' |
Stock-based retailer incentive compensation (Amount) | ' | ' | 0 | 0 | 0 | ' |
Conversion of Class B common stock by stockholders (Shares) | ' | ' | -5,311 | -1,495 | -22,155 | ' |
Conversion of Class B common stock by stockholders (Amount) | ' | ' | -6 | -1 | -22 | ' |
Other Comprehensive Income (Loss), Net of Tax | ' | ' | 0 | 0 | 0 | ' |
Additional Paid-in Capital [Member] | ' | ' | ' | ' | ' | ' |
Total stockholders' equity | 199,251 | 158,656 | 199,251 | 158,656 | 131,383 | 95,433 |
Common stock issued under stock plans and related tax effects (Amount) | ' | ' | 17,170 | 6,288 | 9,089 | ' |
Stock-based compensation (Amount) | ' | ' | 14,703 | 12,734 | 9,524 | ' |
Stock-based retailer incentive compensation (Amount) | ' | ' | 8,722 | 8,251 | 17,337 | ' |
Conversion of Class B common stock by stockholders (Amount) | ' | ' | 0 | 0 | 0 | ' |
Other Comprehensive Income (Loss), Net of Tax | ' | ' | 0 | 0 | 0 | ' |
Retained Earnings [Member] | ' | ' | ' | ' | ' | ' |
Total stockholders' equity | 203,000 | 168,960 | 203,000 | 168,960 | 121,741 | 69,658 |
Common stock issued under stock plans and related tax effects (Amount) | ' | ' | ' | 0 | 0 | ' |
Stock-based compensation (Amount) | ' | ' | ' | 0 | 0 | ' |
Stock-based retailer incentive compensation (Amount) | ' | ' | ' | 0 | 0 | ' |
Conversion of Class B common stock by stockholders (Amount) | ' | ' | 0 | 0 | 0 | ' |
Net Income | ' | ' | ' | 47,219 | 52,083 | ' |
Other Comprehensive Income (Loss), Net of Tax | ' | ' | 0 | 0 | 0 | ' |
Accumulated Other Comprehensive Income (Loss) [Member] | ' | ' | ' | ' | ' | ' |
Total stockholders' equity | -47 | 106 | -47 | 106 | 30 | 0 |
Common stock issued under stock plans and related tax effects (Amount) | ' | ' | ' | 0 | 0 | ' |
Stock-based compensation (Amount) | ' | ' | ' | 0 | 0 | ' |
Stock-based retailer incentive compensation (Amount) | ' | ' | ' | 0 | 0 | ' |
Conversion of Class B common stock by stockholders (Amount) | ' | ' | ' | 0 | 0 | ' |
Other Comprehensive Income (Loss), Net of Tax | ' | ' | ($153) | $76 | $30 | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Operating activities [Abstract] | ' | ' | ' |
Net Income | $34,040 | $47,219 | $52,083 |
Adjustments to reconcile net income to net cash provided by operating activities [Abstract] | ' | ' | ' |
Depreciation and Amortization | 27,099 | 18,131 | 12,330 |
Provision for uncollectible overdrawn accounts | 47,273 | 62,345 | 60,562 |
Stock-based compensation (Amount) | 14,703 | 12,734 | 9,524 |
Stock-based retailer incentive compensation (Amount) | 8,722 | 8,251 | 17,337 |
Amortization of premium on available-for-sale investment securities | 778 | 1,188 | 251 |
Realized gains on investment securities | -13 | -11 | 0 |
(Recovery) provision for uncollectible trade receivables | -23 | -359 | 455 |
Impairment of capitalized software | 5,216 | 1,029 | 397 |
Deferred income tax expense | 5,464 | 5,792 | 251 |
Excess tax benefits from exercise of options | -2,748 | -2,738 | -2,951 |
Changes in operating assets and liabilities | ' | ' | ' |
Accounts receivable, net | -48,175 | -66,099 | -70,510 |
Prepaid expenses and other assets | 5,069 | -21,325 | -2,838 |
Deferred expenses | -2,929 | 94 | -3,100 |
Accounts payable and other accrued liabilities | 26,915 | 31,475 | -4,489 |
Amounts due issuing bank for overdrawn accounts | -794 | 7,571 | 7,085 |
Deferred revenue | 5,260 | -1,962 | 4,261 |
Income tax receivable | -3,349 | -1,307 | 13,403 |
Net cash provided by operating activities | 122,508 | 102,028 | 94,051 |
Investing activities [Abstract] | ' | ' | ' |
Purchases of available-for-sale investment securities | -274,072 | -271,869 | -45,056 |
Proceeds from maturities of available-for-sale securities | 173,135 | 37,563 | 20,152 |
Proceeds from sales of available-for-sale securities | 84,969 | 81,474 | 0 |
(Increase) decrease in restricted cash | -2,336 | 12,292 | -7,791 |
Payments for acquisition of property and equipment | -35,742 | -40,441 | -23,076 |
Net principal collections on loans | 650 | 2,484 | 245 |
Acquisitions, net of cash acquired | 0 | -31,823 | ' |
Cash Acquired from Acquisition | ' | ' | 5,085 |
Net cash used in investing activities | -53,396 | -210,320 | -50,441 |
Financing activities [Abstract] | ' | ' | ' |
Proceeds from exercise of options | 14,425 | 3,550 | 6,138 |
Excess tax benefits from exercise of options | 2,748 | 2,738 | 2,951 |
Net increase in deposits | 21,129 | 159,494 | 5,231 |
Net increase in obligations to customers | 19,616 | 13,668 | 0 |
Net cash provided by financing activities | 57,918 | 179,450 | 14,320 |
Net increase in unrestricted cash, cash equivalents, and federal funds sold | 127,030 | 71,158 | 57,930 |
Unrestricted cash, cash equivalents, and federal funds sold, beginning of year | 296,591 | 225,433 | 167,503 |
Unrestricted cash, cash equivalents, and federal funds sold, end of period | 423,621 | 296,591 | 225,433 |
Cash paid for interest | 73 | 98 | 108 |
Cash paid for income taxes | $16,351 | $28,203 | $18,291 |
Organization
Organization | 12 Months Ended |
Dec. 31, 2013 | |
Organization [Abstract] | ' |
Organization | ' |
Organization | |
Green Dot Corporation (“we,” “us” and “our” refer to Green Dot Corporation and its wholly-owned subsidiaries, Next Estate Communications, Inc.; Green Dot Bank; and Loopt, LLC) is a bank holding company with a mission to reinvent personal banking for the masses. Our prepaid products and services are available in more than 90,000 retail stores nationwide and online at Greendot.com. Our products include: Green Dot MasterCard and Visa-branded prepaid debit cards and several co-branded reloadable prepaid card programs, collectively referred to as our GPR cards; Visa-branded gift cards; our MoneyPak and swipe reload proprietary products, collectively referred to as our cash transfer products, which enable cash loading and transfer services through our Green Dot Network; and GoBank, an innovative checking account developed for distribution and use via mobile phones. GoBank is available online at GoBank.com and via the Apple App Store and Google Play. The Green Dot Network enables consumers to use cash to reload our prepaid debit cards or to transfer cash to any of our Green Dot Network acceptance members, including competing prepaid card programs and other online accounts. | |
We market our products and services to banked, underbanked and unbanked consumers in the United States using distribution channels other than traditional bank branches, such as third-party retailer locations nationwide and the Internet. Our prepaid debit cards are issued by Green Dot Bank and third-party issuing banks including GE Capital Retail Bank, The Bancorp Bank, Sunrise Banks, N.A., and prior to November 2012, Columbus Bank and Trust Company, a division of Synovus Bank. We also have multi-year distribution arrangements with many large and medium-sized retailers, such as Walmart, Walgreens, CVS, Rite Aid, 7-Eleven, Kroger, Kmart, and Dollar Tree, and with various industry resellers, such as Blackhawk Network and Incomm. We refer to participating retailers collectively as our “retail distributors.” | |
Acquisitions | |
In March 2012, we acquired Loopt, Inc., or Loopt, for approximately $33.6 million in cash in exchange for all of its outstanding shares. Loopt's results of operations are included in our consolidated results of operations following the acquisition date. We paid $9.8 million in retention-based incentives for employees we hired in connection with the acquisition of Loopt. In December 2012, we converted Loopt from a corporation to a limited liability company. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||
Summary of Significant Accounting Policies | ' | |||||||||||
Summary of Significant Accounting Policies | ||||||||||||
Principles of Consolidation and Basis of Presentation | ||||||||||||
Our consolidated financial statements include the results of entities that we control through a 50% or more ownership interest. We have prepared the accompanying consolidated financial statements in accordance with generally accepted accounting principles in the United States of America, or GAAP. We have eliminated all significant intercompany balances and transactions in 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 GAAP requires us to make estimates and assumptions that affect the amounts reported in the consolidated financial statements, including the accompanying notes. We base our estimates and assumptions on historical factors, current circumstances, and the experience and judgment of management. We evaluate our estimates and assumptions on an ongoing basis. Actual results could differ from those estimates. | ||||||||||||
Unrestricted Cash and Cash Equivalents and Federal Funds Sold | ||||||||||||
We consider all unrestricted highly liquid investments with an original maturity of three months or less to be unrestricted cash and cash equivalents. Federal funds sold consist of unsecured overnight advances of excess balances in our bank reserve account and are included in unrestricted cash and cash equivalents on our statements of cash flows. | ||||||||||||
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, a component of stockholders’ equity. We classify investment securities with original maturities greater than 90 days, but less than or equal to 365 days as current assets. | ||||||||||||
Note 2—Summary of Significant Accounting Policies (continued) | ||||||||||||
We regularly evaluate each fixed income security where the value has declined below amortized cost to assess whether the decline in fair value is other-than-temporary. In determining whether an impairment is other-than-temporary, we consider the severity and duration of the decline in fair value, the length of time expected for recovery, the financial condition of the issuer, 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 the impairment of the investment security is credit-related, an other-than-temporary impairment is recorded in earnings. We recognize non-credit-related impairment in accumulated other comprehensive income. 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 as an other-than-temporary impairment. | ||||||||||||
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 | ||||||||||||
Our retail distributors collect customer funds for purchases of new cards and reloads at the point of sale and then remit these funds directly to bank accounts established for the benefit of these customers by the banks that issue our cards. During the third quarter of 2012, our retail distributors began remitting these funds to our subsidiary bank as we transitioned our card issuing program with Synovus Bank to our subsidiary bank. Our retail distributors’ remittance of these funds takes an average of two business days. | ||||||||||||
Settlement assets represent the amounts due from our retail distributors for customer funds collected at the point of sale that have not yet been received by our subsidiary bank. 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. 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 receivables due from card issuing banks, overdrawn account balances due from cardholders, trade accounts receivable 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 collected by the third-party card issuing banks from our retail distributors, merchant banks and cardholders 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. | ||||||||||||
Overdrawn Account Balances Due from Cardholders and Reserve for Uncollectible Overdrawn Accounts | ||||||||||||
Cardholder account overdrafts may arise from maintenance fee assessments on our GPR cards or from purchase transactions that we honor on GPR or gift cards, in each case in excess of the funds in a cardholder’s account. We are exposed to losses from unrecovered cardholder account overdrafts. We establish a reserve for uncollectible overdrawn accounts. We classify overdrawn accounts into age groups based on the number of days that have elapsed since an account has had activity, such as a purchase, ATM transaction or maintenance 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 reserve. When more than 90 days have passed without activity in an account, we consider recovery to be remote and write off the full amount of the overdrawn account balance. We include our provision for uncollectible overdrawn accounts related to maintenance fees and purchase transactions as an offset to card revenues and other fees and in other general and administrative expenses, respectively, in the accompanying consolidated statements of operations. | ||||||||||||
Restricted Cash | ||||||||||||
We maintain restricted deposits in bank accounts to collateralize a standby letter of credit that guarantees our full performance of our obligations under our ten-year office lease in Pasadena, California. | ||||||||||||
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. | ||||||||||||
Note 2—Summary of Significant Accounting Policies (continued) | ||||||||||||
Purchased Credit-Impaired Loans | ||||||||||||
In connection with our acquisition of Green Dot Bank, we acquired loans and recorded them at fair value on the acquisition date. Some of our purchased loans had evidence of credit quality deterioration since origination. We consider purchased loans to be impaired if we do not expect to receive all contractually required cash flows due to concerns about credit quality. The excess of the cash flows expected to be collected measured as of the acquisition date, over the estimated fair value is referred to as the accretable yield and is recognized in interest income over the remaining life of the loan using a level yield methodology. The difference between contractually-required payments as of the acquisition date and the cash flows expected to be collected is referred to as the nonaccretable difference. | ||||||||||||
We determine the initial fair values of purchased credit-impaired loans, or PCI loans, using a discounted cash flow model based on assumptions about the amount and timing of principal and interest payments, estimates of principal losses and current market rates. If there are subsequent decreases in expected principal cash flows, we record a charge to the provision for credit losses and a corresponding increase to the allowance for loan losses. If there are subsequent increases in expected principal cash flows, we record a recovery of any previously recorded allowance for loan losses, to the extent applicable, and a reclassification from nonaccretable difference to accretable yield for any remaining increase. | ||||||||||||
Since PCI loans are recorded at fair value at the acquisition date, we do not classify these loans as nonperforming as the loans were written down to fair value at the acquisition date and the accretable yield is recognized in interest income over the remaining life of the loan. | ||||||||||||
Nonperforming Loans | ||||||||||||
Nonperforming loans generally include loans, other than PCI loans, that have been placed on nonaccrual status. We generally place loans on nonaccrual status when they are past due 90 days or more. We reverse the related accrued interest receivable and apply interest collections on nonaccruing 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. | ||||||||||||
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 Loan Losses | ||||||||||||
We establish an allowance for loan losses to account for estimated credit losses inherent in our loan portfolio. For the portfolio of loans excluding impaired and PCI loans, our estimate of inherent losses is separately calculated on an aggregate basis for groups of loans that are considered to have similar credit characteristics and risk of loss. We analyze historical loss rates for these groups and then adjust the rates for qualitative factors which in our judgment affect the expected inherent losses. Qualitative considerations include, but are not limited to, prevailing economic or market conditions, changes in the loan grading and underwriting process, changes in the estimated value of the underlying collateral for collateral dependent loans, delinquency and nonaccrual status, problem loan trends, and geographic concentrations. We separately establish specific allowances for impaired and PCI 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. | ||||||||||||
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 internal-use software in development and land, which are 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. | ||||||||||||
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 | 3-4 years | |||||||||||
Computer software purchased | 3 years | |||||||||||
Capitalized internal-use software | 2 years | |||||||||||
Tenant improvements | Shorter of the useful life or the lease term | |||||||||||
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. | ||||||||||||
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 recognize an impairment loss. 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. Included in other general and administrative expenses in our consolidated statements of operations for the years ended December 31, 2013, 2012 and 2011 were $5.2 million, $1.0 million and $0.4 million, respectively, of recognized impairment losses on internal-use software. | ||||||||||||
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 a business segment or one level below a business segment. We may in any given period bypass the qualitative assessment and proceed directly to a two step method to assess and measure impairment of the reporting units goodwill. 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 two-step quantitative impairment test. The first step of the quantitative impairment test involves a comparison of 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, then the second step of the quantitative impairment test must be performed. The second step compares the implied fair value of the reporting unit’s goodwill with its carrying amount to measure the amount of impairment loss, if any. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess. | ||||||||||||
For intangible assets, we recognize an impairment loss if the carrying amount of the intangible asset is not recoverable and exceeds 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. | ||||||||||||
Intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives. | ||||||||||||
Amounts Due to Card Issuing Banks for Overdrawn Accounts | ||||||||||||
Our 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. | ||||||||||||
Note 2—Summary of Significant Accounting Policies (continued) | ||||||||||||
Fair Value | ||||||||||||
Under applicable accounting guidance, fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability 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, cash transfer revenues and interchange revenues. We recognize revenue when the price is fixed or determinable, persuasive evidence of an arrangement exists, the product is sold or the service is performed, and collectability of the resulting receivable is reasonably assured. | ||||||||||||
Card revenues and other fees consist of monthly maintenance fees, ATM fees, new card fees and other revenues. 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 the month for which they are assessed. 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 same time our service is completed and the fees are assessed. We charge new card fees when a consumer purchases a new card in a retail store. We defer and recognize new card fee revenues on a straight-line basis over our average card lifetime, which is currently seven months for our GPR cards and six months for our gift cards. We determine the average card lifetime based on our recent historical data for comparable products. We measure card lifetime for our GPR cards as the period of time, inclusive of reload activity, between sale (or activation) of the card and the date of the last positive balance. We measure the card lifetime for our gift cards as the redemption period during which cardholders perform the substantial majority of their transactions. We reassess average card lifetime quarterly. We report the unearned portion of new card fees as a component of deferred revenue in our consolidated balance sheets. Other revenues consist primarily of fees associated with optional products or services, which we generally offer to consumers during the card activation process. Optional products and services include providing a second card for an account, expediting delivery of the personalized debit card that replaces the temporary card obtained at the retail store, and upgrading a cardholder account to one of our upgrade programs. We generally recognize revenue related to optional products and services when the underlying services are completed, but we treat revenues related to our upgrade programs in a manner similar to new card fees and monthly maintenance fees. | ||||||||||||
We generate cash transfer revenues when consumers purchase our cash transfer products (reload services) in a retail store. We recognize these revenues when the cash transfer transactions are completed, generally within two business days from the time of sale of these products. | ||||||||||||
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 cardholders make purchase transactions using our cards. We recognize interchange revenues as these transactions occur. | ||||||||||||
Note 2—Summary of Significant Accounting Policies (continued) | ||||||||||||
We report our different types of revenues on a gross or net basis based on our assessment of whether we act as a principal or an agent in the transaction. To the extent we act as a principal in the transaction, we report revenues on a gross basis. In concluding whether or not we act as a principal or an agent, we evaluate whether we have the substantial risks and rewards under the terms of the revenue-generating arrangements, whether we are the party responsible for fulfillment of the services purchased by the cardholders, and other factors. For all of our significant revenue-generating arrangements, including GPR and gift cards, we record revenues on a gross basis. | ||||||||||||
Generally, customers have limited rights to a refund of a new card fee or a cash transfer fee. We have elected to recognize revenues prior to the expiration of the refund period, but reduce revenues by the amount of expected refunds, which we estimate based on actual historical refunds. | ||||||||||||
On occasion, we enter into incentive agreements with our retail distributors and offer incentives to customers designed to increase product acceptance and sales volume. We record incentive payments, including the issuance of equity instruments, as a reduction of revenues and recognize them over the period the related revenues are recognized or as services are rendered, as applicable. | ||||||||||||
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, and 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 seven months for our GPR cards and six months for our gift cards. Absent a new card fee, we expense the related commissions immediately. We expense commissions related to cash transfer products when the cash transfer transactions are completed. We expense costs for the production of advertising as incurred. The cost of media advertising is expensed 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. | ||||||||||||
Our sales commissions, advertising and marketing expenses and manufacturing and distributing costs were as follows: | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Sales commissions | $ | 161,859 | $ | 145,462 | $ | 121,430 | ||||||
Advertising and marketing expenses | 10,369 | 21,765 | 14,673 | |||||||||
Manufacturing and distributing costs | 46,142 | 42,643 | 32,644 | |||||||||
Sales and marketing expenses | $ | 218,370 | $ | 209,870 | $ | 168,747 | ||||||
Included in our manufacturing and distributing costs were shipping and handling costs of $4.0 million, $3.4 million and $3.4 million for the years ended December 31, 2013, 2012 and 2011. Also included in our manufacturing and distributing costs were liabilities that we incurred for use tax 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. | ||||||||||||
Employee Stock-Based Compensation | ||||||||||||
We record employee stock-based compensation expense using the fair value method of accounting. 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 Merton 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. | ||||||||||||
Note 2—Summary of Significant Accounting Policies (continued) | ||||||||||||
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 our preferred stockholders are entitled to participate with our common stockholders in the distributions of earnings through dividends. The two-class method requires net income, after deduction of any preferred stock dividends, deemed dividends on preferred stock redemptions, and accretions in the carrying value on preferred stock, to be allocated between each class or series of common and preferred stockholders 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. | ||||||||||||
In addition, for diluted EPS, the conversion of Class B common stock will affect net income allocated to Class A common stockholders. Where the effect of this conversion is dilutive, we adjust net income allocated to Class A common stockholders by the associated allocated earnings of the convertible securities. We divide 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 and restricted stock units and outstanding warrants, shares to be purchased under our employee stock purchase plan and the dilution resulting from the conversion of convertible securities, if applicable. We exclude the effects of convertible securities and outstanding warrants and stock options from the computation of diluted EPS in periods in which the effect would be anti-dilutive. We calculate dilutive potential common shares using the treasury stock method, if-converted method and the two-class method, as applicable. | ||||||||||||
Regulatory Matters and Capital Adequacy | ||||||||||||
We became a bank holding company on December 8, 2011. 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 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. | ||||||||||||
Note 2—Summary of Significant Accounting Policies (continued) | ||||||||||||
Recent Accounting Pronouncements | ||||||||||||
In July 2012, the FASB issued ASU 2012-02, Intangibles—Goodwill and Other, allowing an entity to perform a qualitative impairment assessment of indefinite-lived intangible assets before proceeding to the two-step impairment test. If the entity determines, on the basis of qualitative factors, that the fair value of the indefinite-lived intangible asset is not more likely than not (i.e., a likelihood of more than 50 percent) impaired, the entity would not need to calculate the fair value of the asset. In addition, the ASU does not amend the requirement to test these assets for impairment between annual tests if there is a change in events or circumstances; however, it does revise the examples of events and circumstances that an entity should consider in interim periods. ASU 2012-02 became effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, with early adoption being permitted. Our adoption of this ASU is did not have a material impact on our consolidated financial statements. | ||||||||||||
In February 2013, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2013-02, Comprehensive Income: Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, which requires companies to report, in one place, information about significant reclassifications out of accumulated other comprehensive income, or AOCI, and disclose more information about changes in AOCI balances. We adopted this ASU in the first quarter of 2013. The adoption of this standard did not have a significant impact on our consolidated financial statements. | ||||||||||||
In July 2013, the FASB issued ASU 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, which provides guidance for the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. We will adopt the standard effective January 1, 2014. Our adoption of this ASU is not expected to have a material impact on our consolidated financial statements. |
Investment_Securities
Investment Securities | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Investment Securities [Abstract] | ' | |||||||||||||||||||||||
Investment Securities | ' | |||||||||||||||||||||||
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, 2013 | ||||||||||||||||||||||||
Corporate bonds | $ | 70,965 | $ | 45 | $ | (13 | ) | $ | 70,997 | |||||||||||||||
Commercial paper | 49,307 | 15 | (1 | ) | 49,321 | |||||||||||||||||||
Negotiable certificate of deposit | 4,400 | 3 | — | 4,403 | ||||||||||||||||||||
U.S. Treasury notes | 14,265 | 14 | (1 | ) | 14,278 | |||||||||||||||||||
Agency securities | 14,946 | 13 | — | 14,959 | ||||||||||||||||||||
Mortgage-backed securities | 4,169 | — | (168 | ) | 4,001 | |||||||||||||||||||
Municipal bonds | 19,017 | 28 | (14 | ) | 19,031 | |||||||||||||||||||
Asset-backed securities | 21,750 | 9 | (5 | ) | 21,754 | |||||||||||||||||||
Total investment securities | $ | 198,819 | $ | 127 | $ | (202 | ) | $ | 198,744 | |||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||
Corporate bonds | $ | 37,320 | $ | 39 | $ | (2 | ) | $ | 37,357 | |||||||||||||||
Commercial paper | 55,733 | 17 | (2 | ) | 55,748 | |||||||||||||||||||
Negotiable certificate of deposit | 4,400 | 14 | — | 4,414 | ||||||||||||||||||||
U.S. Treasury notes | 22,258 | 9 | — | 22,267 | ||||||||||||||||||||
Agency securities | 25,845 | 23 | (1 | ) | 25,867 | |||||||||||||||||||
Municipal bonds | 11,528 | 43 | (3 | ) | 11,568 | |||||||||||||||||||
Asset-backed securities | 26,533 | 33 | — | 26,566 | ||||||||||||||||||||
Total investment securities | $ | 183,617 | $ | 178 | $ | (8 | ) | $ | 183,787 | |||||||||||||||
Note 3 — Investment Securities (continued) | ||||||||||||||||||||||||
As of December 31, 2013 and December 31, 2012, 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 | Total unrealized loss | |||||||||||||||||||||
Fair value | Unrealized loss | Fair value | Unrealized loss | fair value | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Corporate bonds | $ | 24,104 | $ | (13 | ) | $ | — | $ | — | $ | 24,104 | $ | (13 | ) | ||||||||||
Commercial paper | 4,490 | (1 | ) | — | — | 4,490 | (1 | ) | ||||||||||||||||
U.S. Treasury notes | 5,212 | (1 | ) | — | — | 5,212 | (1 | ) | ||||||||||||||||
Mortgage-backed securities | 4,002 | (168 | ) | — | — | 4,002 | (168 | ) | ||||||||||||||||
Municipal bonds | 8,546 | (14 | ) | — | — | 8,546 | (14 | ) | ||||||||||||||||
Asset-backed securities | 11,797 | (5 | ) | — | — | $ | 11,797 | $ | (5 | ) | ||||||||||||||
Total investment securities | $ | 58,151 | $ | (202 | ) | $ | — | $ | — | $ | 58,151 | $ | (202 | ) | ||||||||||
December 31, 2012 | ||||||||||||||||||||||||
Corporate bonds | $ | 6,138 | $ | (2 | ) | $ | — | $ | — | $ | 6,138 | $ | (2 | ) | ||||||||||
Commercial paper | 6,390 | (2 | ) | — | — | 6,390 | (2 | ) | ||||||||||||||||
Agency securities | 6,302 | (1 | ) | — | — | 6,302 | (1 | ) | ||||||||||||||||
Municipal bonds | 1,602 | (3 | ) | — | — | 1,602 | (3 | ) | ||||||||||||||||
Total investment securities | $ | 20,432 | $ | (8 | ) | $ | — | $ | — | $ | 20,432 | $ | (8 | ) | ||||||||||
We did not record any other-than-temporary impairment losses during the years ended December 31, 2013 and 2012 on our available-for-sale investment securities. We do not intend to sell these investments or we have determined that it is more likely than not that we will not be required to sell these investments before recovery of their amortized cost bases, which may be at maturity. | ||||||||||||||||||||||||
As of December 31, 2013, the contractual maturities of our available-for-sale investment securities were as follows: | ||||||||||||||||||||||||
Amortized cost | Fair value | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Due in one year or less | $ | 115,166 | $ | 116,159 | ||||||||||||||||||||
Due after one year through five years | 56,644 | 56,700 | ||||||||||||||||||||||
Due after five years through ten years | 590 | 588 | ||||||||||||||||||||||
Due after ten years | 500 | 496 | ||||||||||||||||||||||
Mortgage and asset-backed securities | 25,919 | 24,801 | ||||||||||||||||||||||
Total investment securities | $ | 198,819 | $ | 198,744 | ||||||||||||||||||||
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
Accounts Receivable | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Accounts Receivable, Net, Current [Abstract] | ' | |||||||||||||||||||||||
Accounts Receivable | ' | |||||||||||||||||||||||
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, 2013 | ||||||||||||||||||||||||
Real estate | $ | — | $ | — | $ | 11 | $ | 11 | $ | 3,372 | $ | 3,383 | ||||||||||||
Commercial | — | — | — | — | 1,474 | 1,474 | ||||||||||||||||||
Installment | — | — | 3 | 3 | 2,506 | 2,509 | ||||||||||||||||||
Total loans | $ | — | $ | — | $ | 14 | $ | 14 | $ | 7,352 | $ | 7,366 | ||||||||||||
Percentage of outstanding | — | % | — | % | 0.2 | % | 0.2 | % | 99.8 | % | 100 | % | ||||||||||||
December 31, 2012 | ||||||||||||||||||||||||
Real estate | $ | 91 | $ | — | $ | — | $ | 91 | $ | 3,465 | $ | 3,556 | ||||||||||||
Commercial | 77 | — | — | 77 | 1,102 | 1,179 | ||||||||||||||||||
Installment | 22 | 3 | — | 25 | 3,267 | 3,292 | ||||||||||||||||||
Total loans | $ | 190 | $ | 3 | $ | — | $ | 193 | $ | 7,834 | $ | 8,027 | ||||||||||||
Percentage of outstanding | 2.4 | % | — | % | — | % | 2.4 | % | 97.6 | % | 100 | % | ||||||||||||
Note 5—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, other than purchased credit impaired, or PCI loans. See Note 2–Summary of Significant Accounting Policies for further information on the criteria for classification as nonperforming. | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Real estate | $ | 117 | $ | 96 | ||||||||||||||||||||
Commercial | 106 | 136 | ||||||||||||||||||||||
Installment | 250 | 173 | ||||||||||||||||||||||
Total loans | $ | 473 | $ | 405 | ||||||||||||||||||||
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 are generally internally categorized as substandard, doubtful or loss, consistent with regulatory guidelines. | ||||||||||||||||||||||||
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, 2013 | December 31, 2012 | |||||||||||||||||||||||
Non-Classified | Classified | Non-Classified | Classified | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Real estate | $ | 3,003 | $ | 380 | $ | 3,282 | $ | 274 | ||||||||||||||||
Commercial | 1,323 | 151 | 978 | 201 | ||||||||||||||||||||
Installment | 2,058 | 451 | 2,963 | 329 | ||||||||||||||||||||
Total loans | $ | 6,384 | $ | 982 | $ | 7,223 | $ | 804 | ||||||||||||||||
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. The following table presents our impaired loans and loans that we modified in TDRs as of December 31, 2013 and December 31, 2012: | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
Unpaid Principal Balance | Carrying Value | Unpaid Principal Balance | Carrying Value | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Real estate | $ | 194 | $ | 117 | $ | 194 | $ | 96 | ||||||||||||||||
Commercial | 344 | 106 | 280 | 136 | ||||||||||||||||||||
Installment | 500 | 250 | 403 | 173 | ||||||||||||||||||||
Note 5—Loans to Bank Customers (continued) | ||||||||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||
Activity in the allowance for loan losses consisted of the following: | ||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Balance, beginning of period | $ | 475 | $ | — | $ | — | ||||||||||||||||||
Provision for loans | — | 698 | — | |||||||||||||||||||||
Loans charged off | (25 | ) | (223 | ) | — | |||||||||||||||||||
Recoveries of loans previously charged off | 14 | — | — | |||||||||||||||||||||
Balance, end of period | $ | 464 | $ | 475 | $ | — | ||||||||||||||||||
Loans_to_Bank_Customers
Loans to Bank Customers | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Abstract] | ' | |||||||||||||||||||||||
Loans to Bank Customers | ' | |||||||||||||||||||||||
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, 2013 | ||||||||||||||||||||||||
Real estate | $ | — | $ | — | $ | 11 | $ | 11 | $ | 3,372 | $ | 3,383 | ||||||||||||
Commercial | — | — | — | — | 1,474 | 1,474 | ||||||||||||||||||
Installment | — | — | 3 | 3 | 2,506 | 2,509 | ||||||||||||||||||
Total loans | $ | — | $ | — | $ | 14 | $ | 14 | $ | 7,352 | $ | 7,366 | ||||||||||||
Percentage of outstanding | — | % | — | % | 0.2 | % | 0.2 | % | 99.8 | % | 100 | % | ||||||||||||
December 31, 2012 | ||||||||||||||||||||||||
Real estate | $ | 91 | $ | — | $ | — | $ | 91 | $ | 3,465 | $ | 3,556 | ||||||||||||
Commercial | 77 | — | — | 77 | 1,102 | 1,179 | ||||||||||||||||||
Installment | 22 | 3 | — | 25 | 3,267 | 3,292 | ||||||||||||||||||
Total loans | $ | 190 | $ | 3 | $ | — | $ | 193 | $ | 7,834 | $ | 8,027 | ||||||||||||
Percentage of outstanding | 2.4 | % | — | % | — | % | 2.4 | % | 97.6 | % | 100 | % | ||||||||||||
Note 5—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, other than purchased credit impaired, or PCI loans. See Note 2–Summary of Significant Accounting Policies for further information on the criteria for classification as nonperforming. | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Real estate | $ | 117 | $ | 96 | ||||||||||||||||||||
Commercial | 106 | 136 | ||||||||||||||||||||||
Installment | 250 | 173 | ||||||||||||||||||||||
Total loans | $ | 473 | $ | 405 | ||||||||||||||||||||
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 are generally internally categorized as substandard, doubtful or loss, consistent with regulatory guidelines. | ||||||||||||||||||||||||
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, 2013 | December 31, 2012 | |||||||||||||||||||||||
Non-Classified | Classified | Non-Classified | Classified | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Real estate | $ | 3,003 | $ | 380 | $ | 3,282 | $ | 274 | ||||||||||||||||
Commercial | 1,323 | 151 | 978 | 201 | ||||||||||||||||||||
Installment | 2,058 | 451 | 2,963 | 329 | ||||||||||||||||||||
Total loans | $ | 6,384 | $ | 982 | $ | 7,223 | $ | 804 | ||||||||||||||||
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. The following table presents our impaired loans and loans that we modified in TDRs as of December 31, 2013 and December 31, 2012: | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
Unpaid Principal Balance | Carrying Value | Unpaid Principal Balance | Carrying Value | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Real estate | $ | 194 | $ | 117 | $ | 194 | $ | 96 | ||||||||||||||||
Commercial | 344 | 106 | 280 | 136 | ||||||||||||||||||||
Installment | 500 | 250 | 403 | 173 | ||||||||||||||||||||
Note 5—Loans to Bank Customers (continued) | ||||||||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||
Activity in the allowance for loan losses consisted of the following: | ||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Balance, beginning of period | $ | 475 | $ | — | $ | — | ||||||||||||||||||
Provision for loans | — | 698 | — | |||||||||||||||||||||
Loans charged off | (25 | ) | (223 | ) | — | |||||||||||||||||||
Recoveries of loans previously charged off | 14 | — | — | |||||||||||||||||||||
Balance, end of period | $ | 464 | $ | 475 | $ | — | ||||||||||||||||||
Property_Equipment_Notes
Property & Equipment (Notes) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | |||||||
Property and Equipment | ||||||||
Property and equipment consisted of the following: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Land | $ | 205 | $ | 205 | ||||
Building | 461 | 543 | ||||||
Computer equipment, furniture, and office equipment | 34,508 | 23,690 | ||||||
Computer software purchased | 13,123 | 10,914 | ||||||
Capitalized internal-use software | 62,871 | 52,501 | ||||||
Tenant improvements | 7,482 | 7,076 | ||||||
118,650 | 94,929 | |||||||
Less accumulated depreciation and amortization | (58,177 | ) | (36,553 | ) | ||||
Property and equipment, net | $ | 60,473 | $ | 58,376 | ||||
Depreciation and amortization expense was $27.1 million, $18.1 million and $12.3 million for the years ended December 31, 2013, 2012 and 2011, respectively. Included in those amounts are depreciation expense related to internal-use software of $15.0 million, $9.7 million and $6.0 million for the years ended December 31, 2013, 2012 and 2011, respectively. During the year ended December 31, 2013 we had impairments of $5.2 million associated with capitalized internal-use software we determined were no longer viable. The net carrying value of capitalized internal-use software was $28.1 million, and $30.3 million at December 31, 2013 and 2012, respectively. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets (Notes) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||
Goodwill and Intangible Assets Disclosure [Text Block] | ' | |||||||||||||||
Goodwill and Intangible Assets | ||||||||||||||||
Goodwill and intangible assets on our consolidated balance sheets consisted of the following: | ||||||||||||||||
December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
(In thousands) | ||||||||||||||||
Goodwill | $ | 27,250 | $ | 27,250 | ||||||||||||
Intangible assets, net | 3,426 | 3,554 | ||||||||||||||
Goodwill and intangible assets | 30,676 | 30,804 | ||||||||||||||
Note 7—Goodwill and Intangible Assets (continued) | ||||||||||||||||
Goodwill | ||||||||||||||||
Changes in the carrying amount of goodwill were as follows: | ||||||||||||||||
December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
(In thousands) | ||||||||||||||||
Balance, beginning of period | $ | 27,250 | $ | 10,817 | ||||||||||||
Acquisitions | — | 16,350 | ||||||||||||||
Other changes | — | 83 | ||||||||||||||
Balance, end of period | $ | 27,250 | $ | 27,250 | ||||||||||||
During the three months ended December 31, 2013, we completed our annual goodwill impairment test as of September 30, 2013 for all reporting units. Based on the results of step one of the annual goodwill impairment test, we determined that step two was not required for any of the reporting units as their fair value exceeded their carrying value indicating there was no impairment. | ||||||||||||||||
Intangible Assets | ||||||||||||||||
The gross carrying amounts and accumulated amortization related to intangibles assets were as follows: | ||||||||||||||||
31-Dec-13 | 31-Dec-12 | |||||||||||||||
Gross Carrying Value | Accumulated Amortization | Gross Carrying Value | Accumulated Amortization | |||||||||||||
(In thousands) | (In thousands) | |||||||||||||||
Finite-lived intangibles | $ | 926 | $ | (500 | ) | $ | 926 | $ | (372 | ) | ||||||
Indefinite-lived intangibles | 3,000 | N/A | 3,000 | N/A | ||||||||||||
Total intangible assets | $ | 3,926 | $ | (500 | ) | $ | 3,926 | $ | (372 | ) | ||||||
Amortization expense, a component of other general and administrative expenses, on finite-lived intangibles was $128,000, $130,000, and $100,000 for the years ended December 31, 2013, 2012, and 2011, respectively. None of the intangible assets were impaired as of December 31, 2013 or 2012. |
Deposits_Notes
Deposits (Notes) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Deposits [Abstract] | ' | |||||||
Deposit Liabilities Disclosures [Text Block] | ' | |||||||
Deposits | ||||||||
In November 2012, we transitioned all outstanding customer deposits associated with our card issuing program with Synovus Bank to Green Dot Bank. These deposits are included as "GPR deposits" within non-interest bearing deposit accounts below. Deposits were categorized as non-interest and interest-bearing deposits as follows: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Non-interest bearing deposit accounts | (In thousands) | |||||||
GPR deposits | $ | 204,171 | $ | 165,739 | ||||
Other demand deposits | — | 16,138 | ||||||
Total non-interest bearing deposit accounts | 204,171 | 181,877 | ||||||
Interest-bearing deposit accounts | ||||||||
Negotiable order of withdrawal (NOW) | 1,401 | 1,860 | ||||||
Savings | 6,410 | 5,986 | ||||||
Time deposits, denominations greater than or equal to $100 | 5,310 | 6,417 | ||||||
Time deposits, denominations less than $100 | 2,288 | 2,311 | ||||||
Total interest-bearing deposit accounts | 15,409 | 16,574 | ||||||
Total deposits | $ | 219,580 | $ | 198,451 | ||||
Note 8—Deposits (continued) | ||||||||
The scheduled contractual maturities for total time deposits are presented in the table below: | ||||||||
December 31, 2013 | ||||||||
(In thousands) | ||||||||
Due in 2014 | $ | 3,551 | ||||||
Due in 2015 | 2,207 | |||||||
Due in 2016 | 1,100 | |||||||
Due in 2017 | 694 | |||||||
Due in 2018 | 46 | |||||||
Thereafter | — | |||||||
Total time deposits | $ | 7,598 | ||||||
Shareholders_Equity_Notes
Shareholders' Equity (Notes) | 12 Months Ended |
Dec. 31, 2013 | |
Stockholders' Equity Note [Abstract] | ' |
Stockholders' Equity Note Disclosure [Text Block] | ' |
Stockholders’ Equity | |
Convertible Preferred Stock | |
In December 2011, we filed a restated Certificate of Incorporation that authorized 10,085 shares of Series A Convertible Junior Participating Non-Cumulative Perpetual Preferred Stock, or Series A Preferred Stock. We then entered into and completed a share exchange with a significant shareholder, whereby 6,859,000 shares of our Class B common stock were exchanged for 6,859 shares of our newly created series of preferred stock. Our Certificate of Incorporation specified the following rights, preferences, and privileges for our Series A preferred stockholders. | |
Voting | |
Series A Preferred Stock is non-voting, subject to limited exceptions. | |
Dividends | |
Holders of shares of the Series A Preferred Stock are entitled to receive ratable dividends (on an as-converted basis, taking into account the conversion rate applicable to the Series A Preferred Stock at the time) only as, if and when any dividends are paid in respect of our Class A Common Stock. | |
Liquidation | |
In the event of any liquidation, dissolution or winding-up of the affairs of our company (excluding a Reorganization Event (defined below)), of the assets of our company or the proceeds thereof legally available for distribution to our stockholders are distributable ratably among the holders of our Class A Common Stock and any Series A Preferred Stock outstanding at that time after payment to the holders of shares of our Series A Preferred Stock of an amount per share equal to (i) $0.01 plus (ii) any dividends on our Series A Preferred Stock that have been declared but not paid prior to the date of payment of such distribution. | |
In connection with any merger, sale of all or substantially all of the assets or other reorganization involving our company (a “Reorganization Event”) and in which our Class A Common Stock is converted into or exchanged for cash, securities or other consideration, holders of shares of our Series A Preferred Stock will be entitled to receive ratable amounts (on an as-converted basis, taking into account the conversion rate applicable to Series A Preferred Stock at the time) of the same consideration as is payable to holders of our Class A Common Stock pursuant to a Reorganization Event. | |
Conversion | |
Our Series A Preferred Stock is not convertible into any other security except that it converts into Class A Common Stock if it is transferred by a holder (i) in a widespread public distribution, (ii) in a private sale or transfer in which the transferee acquires no more than 2% of any class of voting shares of our company, (iii) to a transferee that owns or controls more than 50% of the voting shares of our company without regard to any transfer from the transferring shareholder or (iv) to our company. Each share of Series A Preferred Stock so transferred will automatically convert into 1,000 shares (subject to appropriate adjustment for any stock split, reverse stock split, stock dividend, recapitalization or other similar event) of our Class A Common Stock. | |
Note 9—Stockholders’ Equity (continued) | |
Common Stock | |
In August 2013, the issued and outstanding shares of our Class B Common Stock declined to less than 10% of the aggregate number of issued and outstanding shares of our Class A Common Stock and Class B Common Stock. Pursuant to the terms of Article V of our Certificate of Incorporation, the issued and outstanding shares of our Class B common stock automatically converted into shares of our Class A common stock. Following this automatic conversion, there is now only a single class of our common stock outstanding. | |
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. | |
Non-Employee Stock-Based Payments | |
Shares Subject to Repurchase | |
In May 2010, we amended our commercial agreement with Walmart, our largest retail distributor, and GE Money Bank. The amendment modifies the terms of our agreement related to our co-branded GPR MoneyCard, which significantly increased the sales commission rates we pay to Walmart for our products sold in their stores. The new agreement commenced on May 1, 2010 with a five-year term. As an incentive to amend our prepaid card program agreement, we issued Walmart 2,208,552 shares of our Class A common stock. These shares are subject to our right to repurchase them at $0.01 per share upon termination of our agreement with Walmart other than a termination arising out of our knowing, intentional and material breach of the agreement. Our right to repurchase the shares lapses with respect to 36,810 shares per month over the sixty months term of the agreement. The repurchase right will expire as to all shares of Class A common stock that remain subject to the repurchase right if we experience a “prohibited change of control,” as defined in the agreement, if we experience a “change of control,” as defined in the stock issuance agreement, or under certain other limited circumstances, which we currently believe are remote. As of December 31, 2013, 588,912 shares of Class A common stock issued to Walmart were subject to our repurchase right. | |
Warrant | |
On March 3, 2009, we entered into a sales and marketing agreement with a third party that contained a contingent warrant feature. The warrant provides the third party with an option to purchase 3,426,765 shares of our common stock at a per share price of $23.70 if certain sales volume or revenue targets are achieved. A further 856,691 shares become eligible for purchase under the warrant should either of these targets be achieved and additional specified marketing and promotional activities take place. | |
Note 9—Stockholders’ Equity (continued) | |
The shares become eligible for purchase under the warrant at any time the targets are achieved prior to the earlier of March 3, 2014 or the termination of the sales and marketing agreement. Once eligible for purchase, the purchase option expires on the earliest of: (1) the date at which the sales and marketing agreement with the third party is terminated; (2) the date of a change of control transaction of our company; or (3) March 3, 2017. | |
The warrant is redeemable for cash by the holder if we fail to perform in accordance with the customary contractual terms of the sales and marketing agreement. Should the third party fail to perform in accordance with the terms of the sales and marketing agreement, we obtain an option to repurchase any shares previously issued under the warrant. | |
As the option to purchase shares under the warrant is contingent upon the achievement of certain sales volume or revenue targets, there is a possibility that no shares will become eligible for purchase. Based on different possible outcomes, we developed a range of fair values for the warrant, and we measured the warrant at its current lowest aggregate fair value within that range. As none of the performance conditions have been met, the lowest aggregate fair value is zero. Accordingly, we have not assigned any value to the warrant in our consolidated financial statements as of December 31, 2013 or 2012. | |
Registration Rights Agreement | |
We are a party to a registration rights agreement with certain of our investors, pursuant to which we have granted those persons or entities the right to register shares of common stock held by them under the Securities Act of 1933, as amended, or the Securities Act. Holders of these rights are entitled to demand that we register their shares of common stock under the Securities Act so long as certain conditions are satisfied and require us to include their shares of common stock in future registration statements that may be filed, either for our own account or for the account of other security holders exercising registration rights. In addition, after an initial public offering, these holders have the right to request that their shares of common stock be registered on a Form S-3 registration statement so long as certain conditions are satisfied and the anticipated aggregate sales price of the registered shares as of the date of filing of the Form S-3 registration statement is at least $1.0 million. The foregoing registration rights are subject to various conditions and limitations, including the right of underwriters of an offering to limit the number of registrable securities that may be included in an offering. The registration rights terminate as to any particular shares on the date on which the holder sells such shares to the public in a registered offering or pursuant to Rule 144 under the Securities Act. We are generally required to bear all of the expenses of these registrations, except underwriting commissions, selling discounts and transfer taxes. | |
We are not obligated under the registration rights agreement to transfer consideration, whether in cash, equity instruments, or adjustments to the terms of the financial instruments that are subject to the registration payment arrangement, to the investors, if the registration statement is not declared effective within the specified time or if effectiveness of the registration statement is not maintained. | |
Comprehensive Income | |
The tax impact on unrealized losses and gains on investment securities available-for-sale for the years ended December 31, 2013 and December 31, 2012 was approximately $(104,000) and $46,000, respectively. |
Employee_StockBased_Compensati
Employee Stock-Based Compensation | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||||
Employee Stock-Based Compensation | ' | ||||||||||||
Employee Stock-Based Compensation | |||||||||||||
Employee Stock-Based Compensation | |||||||||||||
In January 2001, we adopted the 2001 Stock Plan. The 2001 Stock Plan provided for the granting of incentive stock options, nonqualified stock options and other stock awards. Options granted under the 2001 Stock Plan generally vest over four years and expire five years or ten years from the date of grant. This stock plan is no longer in effect with the automatic conversion of all Class B Common Stock to Class A Common Stock in August 2013 as noted within Note 9—Stockholders’ Equity. | |||||||||||||
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. | |||||||||||||
Note 10—Employee Stock-Based Compensation (continued) | |||||||||||||
We reserved 2,000,000 shares and 200,000 shares of our Class A common stock for issuance under our 2010 Equity Incentive Plan and 2010 Employee Stock Purchase Plan, respectively. The number of shares reserved for issuance under our 2010 Equity Incentive Plan and our 2010 Employee Stock Purchase Plan automatically increase on the first day of January of each of 2011 through 2014 and 2011 through 2018, respectively, by up to a number of shares equal to 3% of the total outstanding shares our Class A common stock as of the immediately preceding December 31st. Our board of directors or its compensation committee may reduce the amount of the annual increase under the 2010 Equity Incentive Plan or 2010 Employee Stock Purchase Plan in any particular year. Options granted under the 2010 Equity Incentive Plan generally vest over four years and expire five or ten years from the date of grant. | |||||||||||||
Stock-based compensation for the years ended December 31, 2013, 2012, and 2011 includes expense related to awards of stock options and restricted stock units and purchases under the 2010 Employee Stock Purchase Plan. Total stock-based compensation expense and the related income tax benefit are as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Total stock-based compensation expense | $ | 14,703 | $ | 12,734 | $ | 9,524 | |||||||
Related income tax benefit | 1,410 | 1,465 | 1,890 | ||||||||||
Options and restricted stock units granted on or after July 21, 2010 are issued under the 2010 Equity Incentive Plan and options granted prior to July 21, 2010 were issued under the 2001 Stock Plan, the predecessor to our 2010 Equity Incentive Plan. We have reserved shares of our Class A common stock common stock for issuance under the 2010 Equity Incentive Plan. | |||||||||||||
The following table summarizes stock options and restricted stock units granted: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands, except per share data) | |||||||||||||
Stock options granted | 2,236 | 2,247 | 889 | ||||||||||
Weighted-average exercise price | $ | 18.88 | $ | 19.35 | $ | 38.7 | |||||||
Weighted-average grant-date fair value | $ | 7.2 | $ | 8.92 | $ | 18.62 | |||||||
Restricted stock units granted | 1,272 | 613 | 111 | ||||||||||
Weighted-average grant-date fair value | $ | 22.16 | $ | 14.14 | $ | 33.46 | |||||||
We estimated the fair value of each stock option grant on the date of grant using the following weighted-average assumptions: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Risk-free interest rate | 1.2 | % | 1 | % | 2.1 | % | |||||||
Expected term (life) of options (in years) | 5.86 | 6.07 | 6.06 | ||||||||||
Expected dividends | — | — | — | ||||||||||
Expected volatility | 43.4 | % | 47.5 | % | 48.3 | % | |||||||
Determining the fair value of stock-based awards at their respective grant dates requires considerable judgment, including estimating expected volatility and expected term (life). We based our expected volatility on the historical volatility of comparable public companies over the option’s expected term. We calculated our expected term based on the simplified method, which is the mid-point between the weighted-average graded-vesting term and the contractual term. The simplified method was chosen as a means to determine expected term as we have limited historical option exercise experience as a public company. We derived the risk-free rate from the average yield for the five-and seven-year zero-coupon U.S. Treasury Strips. We estimate forfeitures at the grant date based on our historical forfeiture rate and revise the estimate, if necessary, in subsequent periods if actual forfeitures differ from those estimates. | |||||||||||||
Note 10—Employee Stock-Based Compensation (continued) | |||||||||||||
Stock option activity for the year ended December 31, 2013 was as follows: | |||||||||||||
Options | Weighted-Average Exercise Price | Weighted-Average Remaining Contractual Life | Aggregate Intrinsic Value | ||||||||||
(in Years) | |||||||||||||
(In thousands, except per share data and years) | |||||||||||||
Outstanding at December 31, 2012 | 5,717 | $ | 15.72 | ||||||||||
Options granted | 2,236 | 18.88 | |||||||||||
Options exercised | (1,428 | ) | 9.67 | ||||||||||
Options canceled | (1,313 | ) | 24.36 | ||||||||||
Outstanding at December 31, 2013 | 5,212 | $ | 16.62 | 6.73 | $ | 48,290 | |||||||
Vested or expected to vest at December 31, 2013 | 4,956 | 16.48 | 6.61 | $ | 46,690 | ||||||||
Exercisable at December 31, 2013 | 2,456 | 14.03 | 4.26 | $ | 29,555 | ||||||||
The total intrinsic value of options exercised was $17.9 million, $8.5 million and $4.4 million for the years ended December 31, 2013, 2012, and 2011, respectively. | |||||||||||||
Restricted stock unit activity for the year ended December 31, 2013 was as follows: | |||||||||||||
Shares | Weighted-Average Grant-Date Fair Value | ||||||||||||
(In thousands) | |||||||||||||
Outstanding at December 31, 2012 | 616 | $ | 15.1 | ||||||||||
Restricted stock units granted | 1,272 | $ | 22.16 | ||||||||||
Restricted stock units canceled | (238 | ) | $ | 17.54 | |||||||||
Restricted stock units vested | (196 | ) | $ | 15.22 | |||||||||
Outstanding at December 31, 2013 | 1,454 | $ | 20.87 | ||||||||||
The total fair value of shares vested for the years ended December 31, 2013 and 2012 was $4.5 million and $0.4 million, respectively, based on the price of our Class A common stock on the vesting date. No restricted stock units vested prior to 2012. | |||||||||||||
At December 31, 2013, there was $19.3 million and $24.4 million of aggregate unrecognized compensation cost related to unvested stock options and restricted stock units, respectively, expected to be recognized in compensation expense in future periods, with a weighted-average period of 2.9 years and 3.4 years, respectively. Approximately 0.5 million shares are available for grant under the 2010 Equity Incentive Plan as of December 31, 2013. | |||||||||||||
Stock-Based Retailer Incentive Compensation | |||||||||||||
As discussed in Note 9 — Stockholders’ Equity, we issued Walmart 2,208,552 shares of our Class A common stock. We recognize the fair value of 36,810 shares each month over the 60-month term of the commercial agreement. An early expiration of our right to repurchase as described above would, however, result in the recognition of the fair value of all the shares still subject to repurchase on the date of the expiration. We currently assess an early expiration of our repurchase right to be remote. We record the fair value recognized as stock-based retailer incentive compensation, a contra-revenue component of our total operating revenues. We recognize monthly the fair value of the shares for which our right to repurchase has lapsed using the then-current fair market value of our Class A common stock. We recognized $8.7 million, $8.3 million and $17.3 million of stock-based retailer incentive compensation for the years ended December 31, 2013, 2012, and 2011, respectively. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
Income Taxes | ||||||||||||
The components of income tax expense included in our consolidated statements of operations were as follows: | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Current: | ||||||||||||
Federal | $ | 11,880 | $ | 21,322 | $ | 29,583 | ||||||
State | 1,116 | 1,805 | 2,096 | |||||||||
Current income tax expense | 12,996 | 23,127 | 31,679 | |||||||||
Deferred: | ||||||||||||
Federal | $ | 6,776 | 5,931 | 251 | ||||||||
State | (1,312 | ) | (139 | ) | — | |||||||
Deferred income tax expense | 5,464 | 5,792 | 251 | |||||||||
Income tax expense | $ | 18,460 | $ | 28,919 | $ | 31,930 | ||||||
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, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
U.S. federal statutory tax rate | 35 | % | 35 | % | 35 | % | ||||||
State income taxes, net of federal benefit | (0.2 | ) | 1.9 | 1.6 | ||||||||
General business credits | (2.3 | ) | (0.4 | ) | — | |||||||
Employee stock-based compensation | 1.4 | 1.4 | 1.2 | |||||||||
Other | 1.2 | 0.3 | 0.2 | |||||||||
Effective tax rate | 35.1 | % | 38.2 | % | 38 | % | ||||||
The effective tax rate for the year ended December 31, 2013 was impacted by our recognition of federal and state general business credits related to 2012 and 2013 of $1.2 million. | ||||||||||||
Note 11—Income Taxes (continued) | ||||||||||||
The tax effects of temporary difference that give rise to significant portions of our deferred tax assets and liabilities were as follows: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
(In thousands) | ||||||||||||
Deferred tax assets: | ||||||||||||
Net operating loss carryforwards | $ | 12,276 | $ | 13,655 | ||||||||
Stock-based compensation | 6,397 | 7,057 | ||||||||||
Reserve for overdrawn accounts | 4,088 | 6,130 | ||||||||||
Accrued liabilities | 5,354 | 3,191 | ||||||||||
Tax credit carryforwards | 2,298 | — | ||||||||||
Other | 984 | 1,272 | ||||||||||
Gross deferred tax assets | 31,397 | 31,305 | ||||||||||
Valuation allowance | (1,228 | ) | (1,262 | ) | ||||||||
Total deferred tax assets, net of valuation allowance | $ | 30,169 | $ | 30,043 | ||||||||
Deferred tax liabilities: | ||||||||||||
Internal-use software costs | $ | 10,587 | $ | 9,986 | ||||||||
Property and equipment, net | 5,534 | 6,013 | ||||||||||
Deferred expenses | 5,083 | 4,013 | ||||||||||
Intangible assets | 1,156 | 1,386 | ||||||||||
Gift card revenue | 6,637 | 1,063 | ||||||||||
Other | 1,526 | 475 | ||||||||||
Total deferred tax liabilities | $ | 30,523 | $ | 22,936 | ||||||||
Net deferred tax (liabilities) assets | $ | (354 | ) | $ | 7,107 | |||||||
Total net deferred tax assets and liabilities are included in our consolidated balance sheets as follows: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
(In thousands) | ||||||||||||
Current net deferred tax (liabilities) assets | $ | (3,716 | ) | $ | 2,478 | |||||||
Noncurrent net deferred tax assets | 3,362 | 4,629 | ||||||||||
Net deferred tax (liabilities) assets | $ | (354 | ) | $ | 7,107 | |||||||
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. We believe uncertainty exists regarding the realizability of certain operating losses and have, therefore, established a valuation allowance for this portion of the deferred tax asset. Future changes in the valuation allowance associated with these deferred tax assets will be recognized as a reduction or increase to income tax expense. | ||||||||||||
We are subject to examination by the Internal Revenue Service, or IRS, and various state tax authorities. Our consolidated federal income tax return for the year ended July 31, 2008 has been examined by the IRS, and there were no material changes in our tax liabilities for that year. Our consolidated federal income tax returns for the year ended July 31, 2009, the five-months ended December 31, 2009 and the years ended December 31, 2010 and 2011 are currently under examination by the IRS. We remain subject to examination of our federal income tax returns for the year ended December 31, 2012. 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. | ||||||||||||
As of December 31, 2013, we have net operating loss carryforwards of approximately $29.7 million and $28.4 million for federal and state tax purposes, respectively, which will be available to offset future income. If not used, these carryforwards will expire between 2025 and 2031. In addition, we have state business tax credits of approximately $1.2 million that will expire between 2028 and 2033 and other state business tax credits of approximately $1.1 million that can be carried forward indefinitely. | ||||||||||||
Note 11—Income Taxes (continued) | ||||||||||||
Certain limitations may be placed on net operating loss carryforwards as a result of changes in control as defined in Section 382 of the Internal Revenue Code. In the event a change in control occurs, it will have the effect of limiting the annual usage of the operating loss carryforwards. | ||||||||||||
As of December 31, 2013 and 2012, we had a liability of $3.7 million and $1.5 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, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Beginning balance | $ | 1,481 | $ | — | $ | — | ||||||
Increases related to positions taken during prior years | 931 | 970 | — | |||||||||
Increases related to positions taken during the current year | 1,312 | 511 | — | |||||||||
Ending balance | $ | 3,724 | $ | 1,481 | $ | — | ||||||
The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate | $ | 3,724 | $ | 1,481 | $ | — | ||||||
We recognized accrued interest and penalties related to unrecognized tax benefits for the years ended December 31, 2013 and 2012, of approximately $338,000 and $0, respectively. |
Earnings_per_Common_Share
Earnings per Common Share | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Earnings per Common Share | ' | |||||||||||
Earnings per Common Share | ||||||||||||
In August 2013, the issued and outstanding shares of our Class B Common Stock declined to less than 10% of the aggregate number of issued and outstanding shares of our Class A Common Stock and Class B Common Stock. Pursuant to the terms of Article V of our Certificate of Incorporation, the issued and outstanding shares of our Class B common stock automatically converted into shares of our Class A common stock. Following this automatic conversion, there is now only a single class of our common stock outstanding. As Class B common stock was outstanding for a portion of the year, we continue to disclose earnings per common share, or EPS, for both classes of common stock. | ||||||||||||
The calculation of basic and diluted EPS was as follows: | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands, except per share data) | ||||||||||||
Basic earnings per Class A common share | ||||||||||||
Net income | $ | 34,040 | $ | 47,219 | $ | 52,083 | ||||||
Income attributable to preferred stock | (5,360 | ) | (7,599 | ) | (558 | ) | ||||||
Income attributable to other classes of common stock | (2,677 | ) | (6,719 | ) | (24,022 | ) | ||||||
Net income allocated to Class A common stockholders | $ | 26,003 | $ | 32,901 | $ | 27,503 | ||||||
Weighted-average Class A shares issued and outstanding | 33,272 | 29,698 | 22,238 | |||||||||
Basic earnings per Class A common share | $ | 0.78 | $ | 1.11 | $ | 1.24 | ||||||
Diluted earnings per Class A common share | ||||||||||||
Net income allocated to Class A common stockholders | $ | 26,003 | $ | 32,901 | $ | 27,503 | ||||||
Re-allocated earnings | 2,207 | 5,612 | 22,549 | |||||||||
Diluted net income allocated to Class A common stockholders | 28,210 | 38,513 | 50,052 | |||||||||
Weighted-average Class A shares issued and outstanding | 33,272 | 29,698 | 22,238 | |||||||||
Dilutive potential common shares: | ||||||||||||
Class B common stock | 2,603 | 6,150 | 19,822 | |||||||||
Stock options | 1,078 | 20 | — | |||||||||
Restricted stock units | 203 | 43 | 3 | |||||||||
Employee stock purchase plan | — | 22 | 2 | |||||||||
Diluted weighted-average Class A shares issued and outstanding | 37,156 | 35,933 | 42,065 | |||||||||
Diluted earnings per Class A common share | $ | 0.76 | $ | 1.07 | $ | 1.19 | ||||||
Note 12—Earnings per Common Share (continued) | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands, except per share data) | ||||||||||||
Basic earnings per Class B common share | ||||||||||||
Net income | $ | 34,040 | $ | 47,219 | $ | 52,083 | ||||||
Income attributable to preferred stock | (5,360 | ) | (7,599 | ) | (558 | ) | ||||||
Income attributable to other classes of common stock | (26,645 | ) | (34,301 | ) | (29,613 | ) | ||||||
Net income allocated to Class B common stockholders | $ | 2,035 | $ | 5,319 | $ | 21,912 | ||||||
Weighted-average Class B shares issued and outstanding | 2,603 | 4,801 | 17,718 | |||||||||
Basic earnings per Class B common share | $ | 0.78 | $ | 1.11 | $ | 1.24 | ||||||
Diluted earnings per Class B common share | ||||||||||||
Net income allocated to Class B common stockholders | $ | 2,035 | $ | 5,319 | $ | 21,912 | ||||||
Re-allocated earnings | (58 | ) | 1,273 | 1,673 | ||||||||
Diluted net income allocated to Class B common stockholders | $ | 1,977 | $ | 6,592 | $ | 23,585 | ||||||
Weighted-average Class B shares issued and outstanding | 2,603 | 4,801 | 17,718 | |||||||||
Dilutive potential common shares: | ||||||||||||
Stock options | — | 1,349 | 2,104 | |||||||||
Diluted weighted-average Class B shares issued and outstanding | 2,603 | 6,150 | 19,822 | |||||||||
Diluted earnings per Class B common share | $ | 0.76 | $ | 1.07 | $ | 1.19 | ||||||
As of December 31, 2013, 588,912 shares of Class A common stock issued to Walmart were subject to our repurchase right. Basic and diluted EPS for these shares were the same as basic and diluted EPS for our Class A common stock for the years ended December 31, 2013 and 2012. | ||||||||||||
We excluded from the computation of basic EPS all shares issuable under an unvested warrant to purchase 4,283,456 shares of our Class A common stock, as the related performance conditions had not been satisfied. | ||||||||||||
For the periods presented, we excluded all shares of convertible preferred stock and certain stock options outstanding, which could potentially dilute basic EPS in the future, from the computation of diluted EPS as their effect 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, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands, except per share data) | ||||||||||||
Class A common stock | ||||||||||||
Options to purchase Class A common stock | 994 | 1,408 | 258 | |||||||||
Restricted stock units | 39 | 26 | — | |||||||||
Conversion of convertible preferred stock | 6,859 | 6,859 | 451 | |||||||||
Total options, restricted stock units and convertible preferred stock | 7,892 | 8,293 | 709 | |||||||||
Class B common stock | ||||||||||||
Options to purchase Class B common stock | — | 122 | 5 | |||||||||
Total options | — | 122 | 5 | |||||||||
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Measurements | ' | |||||||||||||||
Fair Value Measurements | ||||||||||||||||
Under applicable accounting guidance, fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability 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. There are three levels of inputs used to measure fair value. | ||||||||||||||||
Note 13—Fair Value Measurements (continued) | ||||||||||||||||
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, 2013 and December 31, 2012, our assets carried at fair value on a recurring basis were as follows: | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total Fair Value | |||||||||||||
December 31, 2013 | (In thousands) | |||||||||||||||
Corporate bonds | $ | — | $ | 70,997 | $ | — | $ | 70,997 | ||||||||
Commercial paper | — | 49,321 | — | 49,321 | ||||||||||||
Negotiable certificate of deposit | — | 4,403 | — | 4,403 | ||||||||||||
U.S. Treasury notes | — | 14,278 | — | 14,278 | ||||||||||||
Agency securities | — | 14,959 | — | 14,959 | ||||||||||||
Mortgage-backed securities | — | 4,001 | — | 4,001 | ||||||||||||
Municipal bonds | — | 19,031 | — | 19,031 | ||||||||||||
Asset-backed securities | — | 21,754 | — | 21,754 | ||||||||||||
Total | $ | — | $ | 198,744 | $ | — | $ | 198,744 | ||||||||
December 31, 2012 | ||||||||||||||||
Corporate bonds | $ | — | $ | 37,357 | $ | — | $ | 37,357 | ||||||||
Commercial paper | — | 55,748 | — | 55,748 | ||||||||||||
Negotiable certificate of deposit | — | 4,414 | — | 4,414 | ||||||||||||
U.S. treasury notes | — | 22,267 | — | 22,267 | ||||||||||||
Agency securities | — | 25,867 | — | 25,867 | ||||||||||||
Municipal bonds | — | 11,568 | — | 11,568 | ||||||||||||
Asset-backed securities | — | 26,566 | — | 26,566 | ||||||||||||
Total | $ | — | $ | 183,787 | $ | — | $ | 183,787 | ||||||||
We based the fair value of our fixed income securities held as of December 31, 2013 and December 31, 2012 on quoted prices in active markets for similar assets. We had no transfers between Level 1, Level 2 or Level 3 assets during the years ended December 31, 2013 or 2012. |
Fair_Value_of_Financial_Instru
Fair Value of Financial Instruments | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value of Financial Instruments | ' | |||||||||||||||
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, federal funds sold, 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. | ||||||||||||||||
Note 14—Fair Value of Financial Instruments (continued) | ||||||||||||||||
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. | ||||||||||||||||
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, 2013 and December 31, 2012 are presented in the table below. | ||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||
Carrying Value | Fair Value | Carrying Value | Fair Value | |||||||||||||
(In thousands) | ||||||||||||||||
Financial Assets | ||||||||||||||||
Loans to bank customers, net of allowance | $ | 6,902 | $ | 5,926 | $ | 7,552 | $ | 5,719 | ||||||||
Financial Liabilities | ||||||||||||||||
Deposits | $ | 219,580 | $ | 219,534 | $ | 198,451 | $ | 198,369 | ||||||||
Borrowing_Agreements_Level_1_N
Borrowing Agreements Level 1 (Notes) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Line of Credit Facility [Line Items] | ' | |||||||||
Debt Disclosure [Text Block] | ' | |||||||||
Borrowing Agreements | ||||||||||
In connection with the transition of all outstanding customer deposits associated with our card issuing program with Synovus Bank to our subsidiary bank, in November 2012, our line of credit with Columbus Bank and Trust Company was terminated. Prior to the termination, we used the line of credit to fund timing differences between funds remitted by our retail distributors to the banks that issue our cards and funds utilized by our cardholders. For the periods presented below, our line of credit had the following terms: | ||||||||||
Line of Credit | Interest Rate | Cash Collateral Requirements | ||||||||
(In millions, except interest rates) | ||||||||||
March 2012 - November 2012 | $ | 10 | LIBOR + 2.00% | $ | 10 | |||||
March 2011 - March 2012 | $ | 10 | LIBOR + 2.00% | $ | 10 | |||||
We present our cash collateral requirements on our consolidated balance sheets as restricted cash. There were no outstanding borrowings at December 31, 2013. |
Concentrations_of_Credit_Risk_
Concentrations of Credit Risk Level 1(Notes) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Concentrations of Credit Risk [Abstract] | ' | |||||
Concentration Risk Disclosure [Text Block] | ' | |||||
Concentrations of Credit Risk | ||||||
Financial 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. Approximately 94.1% of our borrowers reside in the state of Utah and approximately 41.0% in the city of Provo. Consequently, we are susceptible to any adverse market or environmental conditions that may impact this specific geographic region. Credit risk for our settlement assets is concentrated with our retail distributors, which we periodically monitor. | ||||||
Significant Customer Concentration | ||||||
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. | ||||||
Revenues derived from our products sold at our four largest retail distributors represented the following percentages of our total operating revenues: | ||||||
Year Ended December 31, | ||||||
2013 | 2012 | 2011 | ||||
Walmart | 64% | 64% | 61% | |||
Three other largest retail distributors, as a group | 22% | 20% | 20% | |||
Excluding stock-based retailer incentive compensation of $8.7 million, $8.3 million, $17.3 million and for the years ended December 31, 2013, 2012, and 2011, respectively, revenues derived from our products sold at our four largest retail distributors represented the following percentages of our total operating revenues: | ||||||
Year Ended December 31, | ||||||
2013 | 2012 | 2011 | ||||
Walmart | 65% | 65% | 62% | |||
Three other largest retail distributors, as a group | 21% | 20% | 19% | |||
The concentration of GPR cards activated (in units) and the concentration of sales of cash transfer products (in units) derived from our products sold at our four largest retail distributors was as follows: | ||||||
Year Ended December 31, | ||||||
2013 | 2012 | 2011 | ||||
Concentration of GPR cards activated (in units) | 82% | 87% | 80% | |||
Concentration of sales of cash transfer products (in units) | 87% | 88% | 90% | |||
Settlement assets derived from our products sold at our four largest retail distributors comprised the following percentages of the settlement assets recorded on our consolidated balance sheet: | ||||||
December 31, 2013 | December 31, 2012 | |||||
Walmart | 34% | 35% | ||||
Three other largest retail distributors, as a group | 39% | 38% | ||||
Note 19—Significant Customer Concentration (continued) | ||||||
At December 31, 2013 and December 31, 2012, the customer funds underlying the Walmart co-branded GPR cards were held by GE Capital Retail Bank. These funds are held in trust for the benefit of the customers, and we have no legal rights to the customer funds. Additionally, we have receivables due from GE Capital Retail Bank that are included in accounts receivable, net, on our consolidated balance sheets. Refer to Note 22 — Subsequent Events for additional information regarding our relationship with GE Capital Retail Bank. |
Defined_Contribution_Plan_Note
Defined Contribution Plan (Notes) | 12 Months Ended |
Dec. 31, 2013 | |
Defined Contribution Plan [Abstract] | ' |
Pension and Other Postretirement Benefits Disclosure [Text Block] | ' |
Defined Contribution Plan | |
On 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 contributions to the plan from their eligible earnings up to the statutorily prescribed annual limit on pre-tax contributions under the code. We may contribute to the plan at the discretion of our board of directors. Effective January 1, 2010, our board elected to include a discretionary employer matching contribution equal to 50% of the first 6% of the participant’s eligible compensation as defined by the Plan. Effective January 1, 2013, our board elected to cancel the discretionary employer matching contributions. Our contributions are allocated in the same manner as that of the participant’s elective contributions. We made contributions to the plan of $0.1 million, $1.2 million, and $0.9 million for the years ended December 31, 2013, 2012 and 2011, respectively. Amounts contributed in the year ended December 31, 2013 were related to matching contributions on employee contributions during the year ended December 31, 2012 which were not received until 2013. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||||||
Commitments and Contingencies | ' | |||||||
Commitments and Contingencies | ||||||||
In December 2011, we entered into a ten-year office lease for 140,000 square feet of office space in Pasadena, California. This facility serves as our corporate headquarters. The initial term of the lease is ten years and is scheduled to expire on October 31, 2022. We are also bound to a property sub-lease agreement of approximately 5,000 square feet that expired in December 2013 and maintain smaller administrative or project offices. Our total rental expense for these and former leases amounted to $5.3 million, $6.4 million and $2.6 million for the years ended December 31, 2013, 2012 and 2011, respectively. | ||||||||
At December 31, 2013, the future minimum aggregate rental commitment under all operating leases and minimum annual payments through various agreements with vendors and retail distributors was: | ||||||||
Operating Leases | Vendor/Retail Distributor Commitments | |||||||
Year ending December 31, | (In thousands) | |||||||
2014 | $ | 4,187 | $ | 9,558 | ||||
2015 | 4,596 | 1,910 | ||||||
2016 | 4,726 | 6,550 | ||||||
2017 | 4,186 | 1,625 | ||||||
2018 | 4,156 | 12,600 | ||||||
Thereafter | 17,108 | 3,150 | ||||||
Total of future commitments | $ | 38,959 | $ | 35,393 | ||||
In the event we terminate our processing services agreement for convenience, we are required to pay a single lump sum equal to any minimum payments remaining on the date of termination. | ||||||||
We monitor the laws of all 50 states to identify state laws or regulations that apply to prepaid debit cards and other stored value products. Many state laws do not specifically address stored value products and what, if any, legal or regulatory requirements (including licensing) apply to the sale of these products. 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. | ||||||||
In the ordinary course of business, we are a party to various legal proceedings. We review these actions on an ongoing basis to determine whether it is probable that a loss has occurred and use that information when making accrual and disclosure decisions. We have not established reserves or possible ranges of losses related to these proceedings because, at this time in the proceedings, the matters do not relate to a probable loss and/or the amounts are not reasonably estimable. | ||||||||
Note 18—Commitments and Contingencies (continued) | ||||||||
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 third-party claims that our products infringe a patent, copyright, or other intellectual property right claims arising from our acts, omissions, or violation of law. | ||||||||
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 4 — Accounts Receivable. |
Significant_Customer_Concentra
Significant Customer Concentrations | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Significant Customer Concentrations [Abstract] | ' | |||||
Significant Customer Concentrations | ' | |||||
Concentrations of Credit Risk | ||||||
Financial 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. Approximately 94.1% of our borrowers reside in the state of Utah and approximately 41.0% in the city of Provo. Consequently, we are susceptible to any adverse market or environmental conditions that may impact this specific geographic region. Credit risk for our settlement assets is concentrated with our retail distributors, which we periodically monitor. | ||||||
Significant Customer Concentration | ||||||
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. | ||||||
Revenues derived from our products sold at our four largest retail distributors represented the following percentages of our total operating revenues: | ||||||
Year Ended December 31, | ||||||
2013 | 2012 | 2011 | ||||
Walmart | 64% | 64% | 61% | |||
Three other largest retail distributors, as a group | 22% | 20% | 20% | |||
Excluding stock-based retailer incentive compensation of $8.7 million, $8.3 million, $17.3 million and for the years ended December 31, 2013, 2012, and 2011, respectively, revenues derived from our products sold at our four largest retail distributors represented the following percentages of our total operating revenues: | ||||||
Year Ended December 31, | ||||||
2013 | 2012 | 2011 | ||||
Walmart | 65% | 65% | 62% | |||
Three other largest retail distributors, as a group | 21% | 20% | 19% | |||
The concentration of GPR cards activated (in units) and the concentration of sales of cash transfer products (in units) derived from our products sold at our four largest retail distributors was as follows: | ||||||
Year Ended December 31, | ||||||
2013 | 2012 | 2011 | ||||
Concentration of GPR cards activated (in units) | 82% | 87% | 80% | |||
Concentration of sales of cash transfer products (in units) | 87% | 88% | 90% | |||
Settlement assets derived from our products sold at our four largest retail distributors comprised the following percentages of the settlement assets recorded on our consolidated balance sheet: | ||||||
December 31, 2013 | December 31, 2012 | |||||
Walmart | 34% | 35% | ||||
Three other largest retail distributors, as a group | 39% | 38% | ||||
Note 19—Significant Customer Concentration (continued) | ||||||
At December 31, 2013 and December 31, 2012, the customer funds underlying the Walmart co-branded GPR cards were held by GE Capital Retail Bank. These funds are held in trust for the benefit of the customers, and we have no legal rights to the customer funds. Additionally, we have receivables due from GE Capital Retail Bank that are included in accounts receivable, net, on our consolidated balance sheets. Refer to Note 22 — Subsequent Events for additional information regarding our relationship with GE Capital Retail Bank. |
Regulatory_Requirements_Notes
Regulatory Requirements (Notes) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Regulatory Requirements [Abstract] | ' | |||||||||||
Regulatory Capital Requirements under Banking Regulations [Text Block] | ' | |||||||||||
Regulatory Matters and Capital Adequacy | ||||||||||||
We became a bank holding company on December 8, 2011. 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 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. | ||||||||||||
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 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 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, 2013, we were categorized as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, we must maintain specific total risk-based, Tier I risk-based, and Tier I leverage ratios as set forth in the table below. There are no conditions or events since December 31, 2013 which management believes would have changed our category as well capitalized. | ||||||||||||
The actual amounts and ratios, and required minimum capital amounts and ratios by which we exceed these minimum ratios at December 31, 2013 and 2012 were as follows: | ||||||||||||
Actual | Regulatory "well capitalized" minimum | |||||||||||
Amount | Ratio | Amount | Ratio | |||||||||
31-Dec-13 | (In thousands, except ratios) | |||||||||||
Tier 1 leverage | 370,476 | 45.8 | % | 40,418 | 5 | % | ||||||
Tier 1 risk-based capital | 370,476 | 100.8 | 22,057 | 6 | ||||||||
Total risk-based capital | 370,476 | 100.8 | 36,762 | 10 | ||||||||
31-Dec-12 | ||||||||||||
Tier 1 leverage | 289,323 | 47.8 | % | 30,266 | 5 | % | ||||||
Tier 1 risk-based capital | 289,323 | 84.3 | 20,591 | 6 | ||||||||
Total risk-based capital | 289,323 | 84.3 | 34,318 | 10 | ||||||||
Selected_Quarterly_Financial_I
Selected Quarterly Financial Information (Notes) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Condensed Financial Statements, Captions [Line Items] | ' | |||||||||||||||
Quarterly Financial Information [Text Block] | ' | |||||||||||||||
Selected Unaudited Quarterly Financial Information | ||||||||||||||||
The following tables set forth a summary of our quarterly financial information for each of the four quarters in 2013 and 2012: | ||||||||||||||||
2013 | ||||||||||||||||
Q4 | Q3 | Q2 | Q1 | |||||||||||||
(In thousands, except per share data) | ||||||||||||||||
Total operating revenues | $ | 142,320 | $ | 136,544 | $ | 140,608 | $ | 154,149 | ||||||||
Total operating expenses | 141,856 | 128,570 | 123,253 | 130,810 | ||||||||||||
Operating income | 464 | 7,974 | 17,355 | 23,339 | ||||||||||||
Interest income, net | 949 | 778 | 839 | 802 | ||||||||||||
Income before income taxes | 1,413 | 8,752 | 18,194 | 24,141 | ||||||||||||
Income tax expense | 377 | 2,638 | 6,890 | 8,555 | ||||||||||||
Net income | $ | 1,036 | $ | 6,114 | $ | 11,304 | $ | 15,586 | ||||||||
Earnings per common share | ||||||||||||||||
Basic | ||||||||||||||||
Class A common stock | $ | 0.02 | $ | 0.14 | $ | 0.26 | $ | 0.36 | ||||||||
Class B common stock | $ | 0.02 | $ | 0.14 | $ | 0.26 | $ | 0.36 | ||||||||
Diluted | ||||||||||||||||
Class A common stock | $ | 0.02 | $ | 0.13 | $ | 0.25 | $ | 0.35 | ||||||||
Class B common stock | $ | 0.02 | $ | 0.13 | $ | 0.25 | $ | 0.35 | ||||||||
2012 | ||||||||||||||||
Q4 | Q3 | Q2 | Q1 | |||||||||||||
(In thousands, except per share data) | ||||||||||||||||
Total operating revenues | $ | 137,302 | $ | 132,759 | $ | 135,043 | $ | 141,181 | ||||||||
Total operating expenses | 122,812 | 117,882 | 117,908 | 115,543 | ||||||||||||
Operating income | 14,490 | 14,877 | 17,135 | 25,638 | ||||||||||||
Interest income, net | 933 | 962 | 1,168 | 935 | ||||||||||||
Income before income taxes | 15,423 | 15,839 | 18,303 | 26,573 | ||||||||||||
Income tax expense | 5,053 | 6,227 | 7,434 | 10,205 | ||||||||||||
Net income | $ | 10,370 | $ | 9,612 | $ | 10,869 | $ | 16,368 | ||||||||
Earnings per common share | ||||||||||||||||
Basic | ||||||||||||||||
Class A common stock | $ | 0.24 | $ | 0.23 | $ | 0.26 | $ | 0.39 | ||||||||
Class B common stock | $ | 0.24 | $ | 0.23 | $ | 0.26 | $ | 0.39 | ||||||||
Diluted | ||||||||||||||||
Class A common stock | $ | 0.24 | $ | 0.22 | $ | 0.25 | $ | 0.37 | ||||||||
Class B common stock | $ | 0.24 | $ | 0.22 | $ | 0.25 | $ | 0.37 | ||||||||
Subsequent_Events_Notes
Subsequent Events (Notes) | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
Subsequent Event | |
In February 2014, we completed the transition of all outstanding customer deposits associated with our GPR card program with GE Capital Retail Bank to Green Dot Bank. The total funds transferred to Green Dot Bank was approximately $260.0 million and will be classified as deposits on our consolidated balance sheet. In conjunction with this transition, we made a payment of approximately $50.0 million to GE Capital Retail Bank to settle our liability associated with overdrawn cardholder account balances, which is included in our consolidated balance sheet as "amounts due to card issuing banks for overdrawn accounts." Additionally, we contributed approximately $50.0 million to Green Dot Bank to maintain its capital, leverage and other financial commitments at levels we have agreed to with our regulators. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies Level 2 (Policies) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Accounting Policies [Abstract] | ' | |||||||||||
Basis of Presentation and Significant Accounting Policies | ' | |||||||||||
Principles of Consolidation and Basis of Presentation | ||||||||||||
Our consolidated financial statements include the results of entities that we control through a 50% or more ownership interest. We have prepared the accompanying consolidated financial statements in accordance with generally accepted accounting principles in the United States of America, or GAAP. We have eliminated all significant intercompany balances and transactions in consolidation. We include the results of operations of acquired companies from the date of acquisition. | ||||||||||||
Use of Estimates, Policy [Policy Text Block] | ' | |||||||||||
Use of Estimates and Assumptions | ||||||||||||
The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported in the consolidated financial statements, including the accompanying notes. We base our estimates and assumptions on historical factors, current circumstances, and the experience and judgment of management. We evaluate our estimates and assumptions on an ongoing basis. Actual results could differ from those estimates. | ||||||||||||
Cash and Cash Equivalents, Policy [Policy Text Block] | ' | |||||||||||
Unrestricted Cash and Cash Equivalents and Federal Funds Sold | ||||||||||||
We consider all unrestricted highly liquid investments with an original maturity of three months or less to be unrestricted cash and cash equivalents. Federal funds sold consist of unsecured overnight advances of excess balances in our bank reserve account and are included in unrestricted cash and cash equivalents on our statements of cash flows. | ||||||||||||
Investment, Policy [Policy Text Block] | ' | |||||||||||
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, a component of stockholders’ equity. We classify investment securities with original maturities greater than 90 days, but less than or equal to 365 days as current assets. | ||||||||||||
Note 2—Summary of Significant Accounting Policies (continued) | ||||||||||||
We regularly evaluate each fixed income security where the value has declined below amortized cost to assess whether the decline in fair value is other-than-temporary. In determining whether an impairment is other-than-temporary, we consider the severity and duration of the decline in fair value, the length of time expected for recovery, the financial condition of the issuer, 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 the impairment of the investment security is credit-related, an other-than-temporary impairment is recorded in earnings. We recognize non-credit-related impairment in accumulated other comprehensive income. 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 as an other-than-temporary impairment. | ||||||||||||
Interest on fixed income securities, including amortization of premiums and accretion of discounts, is included in interest income. | ||||||||||||
Settlement Assets and Obligations Policy [Policy Text Block] | ' | |||||||||||
Obligations to Customers and Settlement Assets and Obligations | ||||||||||||
Our retail distributors collect customer funds for purchases of new cards and reloads at the point of sale and then remit these funds directly to bank accounts established for the benefit of these customers by the banks that issue our cards. During the third quarter of 2012, our retail distributors began remitting these funds to our subsidiary bank as we transitioned our card issuing program with Synovus Bank to our subsidiary bank. Our retail distributors’ remittance of these funds takes an average of two business days. | ||||||||||||
Settlement assets represent the amounts due from our retail distributors for customer funds collected at the point of sale that have not yet been received by our subsidiary bank. 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. Settlement obligations represent the customer funds received by our subsidiary bank that are due to third-party card issuing banks upon activation. | ||||||||||||
Trade and Other Accounts Receivable, Policy [Policy Text Block] | ' | |||||||||||
Accounts Receivable, Net | ||||||||||||
Accounts receivable is comprised principally of receivables due from card issuing banks, overdrawn account balances due from cardholders, trade accounts receivable 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 collected by the third-party card issuing banks from our retail distributors, merchant banks and cardholders 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. | ||||||||||||
Overdrawn Account Balances Due from Cardholders and Reserve for Uncollectible Overdrawn Accounts | ||||||||||||
Cardholder account overdrafts may arise from maintenance fee assessments on our GPR cards or from purchase transactions that we honor on GPR or gift cards, in each case in excess of the funds in a cardholder’s account. We are exposed to losses from unrecovered cardholder account overdrafts. We establish a reserve for uncollectible overdrawn accounts. We classify overdrawn accounts into age groups based on the number of days that have elapsed since an account has had activity, such as a purchase, ATM transaction or maintenance 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 reserve. When more than 90 days have passed without activity in an account, we consider recovery to be remote and write off the full amount of the overdrawn account balance. We include our provision for uncollectible overdrawn accounts related to maintenance fees and purchase transactions as an offset to card revenues and other fees and in other general and administrative expenses, respectively, in the accompanying consolidated statements of operations. | ||||||||||||
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block] | ' | |||||||||||
Restricted Cash | ||||||||||||
We maintain restricted deposits in bank accounts to collateralize a standby letter of credit that guarantees our full performance of our obligations under our ten-year office lease in Pasadena, California. | ||||||||||||
Finance, Loans and Leases Receivable, Policy [Policy Text Block] | ' | |||||||||||
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. | ||||||||||||
Note 2—Summary of Significant Accounting Policies (continued) | ||||||||||||
Purchased Credit-Impaired Loans | ||||||||||||
In connection with our acquisition of Green Dot Bank, we acquired loans and recorded them at fair value on the acquisition date. Some of our purchased loans had evidence of credit quality deterioration since origination. We consider purchased loans to be impaired if we do not expect to receive all contractually required cash flows due to concerns about credit quality. The excess of the cash flows expected to be collected measured as of the acquisition date, over the estimated fair value is referred to as the accretable yield and is recognized in interest income over the remaining life of the loan using a level yield methodology. The difference between contractually-required payments as of the acquisition date and the cash flows expected to be collected is referred to as the nonaccretable difference. | ||||||||||||
We determine the initial fair values of purchased credit-impaired loans, or PCI loans, using a discounted cash flow model based on assumptions about the amount and timing of principal and interest payments, estimates of principal losses and current market rates. If there are subsequent decreases in expected principal cash flows, we record a charge to the provision for credit losses and a corresponding increase to the allowance for loan losses. If there are subsequent increases in expected principal cash flows, we record a recovery of any previously recorded allowance for loan losses, to the extent applicable, and a reclassification from nonaccretable difference to accretable yield for any remaining increase. | ||||||||||||
Since PCI loans are recorded at fair value at the acquisition date, we do not classify these loans as nonperforming as the loans were written down to fair value at the acquisition date and the accretable yield is recognized in interest income over the remaining life of the loan. | ||||||||||||
Nonperforming Loans | ||||||||||||
Nonperforming loans generally include loans, other than PCI loans, that have been placed on nonaccrual status. We generally place loans on nonaccrual status when they are past due 90 days or more. We reverse the related accrued interest receivable and apply interest collections on nonaccruing 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. | ||||||||||||
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 Loan Losses | ||||||||||||
We establish an allowance for loan losses to account for estimated credit losses inherent in our loan portfolio. For the portfolio of loans excluding impaired and PCI loans, our estimate of inherent losses is separately calculated on an aggregate basis for groups of loans that are considered to have similar credit characteristics and risk of loss. We analyze historical loss rates for these groups and then adjust the rates for qualitative factors which in our judgment affect the expected inherent losses. Qualitative considerations include, but are not limited to, prevailing economic or market conditions, changes in the loan grading and underwriting process, changes in the estimated value of the underlying collateral for collateral dependent loans, delinquency and nonaccrual status, problem loan trends, and geographic concentrations. We separately establish specific allowances for impaired and PCI 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. | ||||||||||||
Property, Plant and Equipment, Policy [Policy Text Block] | ' | |||||||||||
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 internal-use software in development and land, which are 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. | ||||||||||||
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 | 3-4 years | |||||||||||
Computer software purchased | 3 years | |||||||||||
Capitalized internal-use software | 2 years | |||||||||||
Tenant improvements | Shorter of the useful life or the lease term | |||||||||||
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. | ||||||||||||
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | ' | |||||||||||
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 recognize an impairment loss. 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. Included in other general and administrative expenses in our consolidated statements of operations for the years ended December 31, 2013, 2012 and 2011 were $5.2 million, $1.0 million and $0.4 million, respectively, of recognized impairment losses on internal-use software. | ||||||||||||
Goodwill and Intangible Assets, Intangible Assets, Indefinite-Lived, Policy [Policy Text Block] | ' | |||||||||||
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 a business segment or one level below a business segment. We may in any given period bypass the qualitative assessment and proceed directly to a two step method to assess and measure impairment of the reporting units goodwill. 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 two-step quantitative impairment test. The first step of the quantitative impairment test involves a comparison of 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, then the second step of the quantitative impairment test must be performed. The second step compares the implied fair value of the reporting unit’s goodwill with its carrying amount to measure the amount of impairment loss, if any. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination. If the carrying amount of the reporting unit’s goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess. | ||||||||||||
For intangible assets, we recognize an impairment loss if the carrying amount of the intangible asset is not recoverable and exceeds 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. | ||||||||||||
Intangible assets with finite lives are amortized on a straight-line basis over their estimated useful lives. | ||||||||||||
Amounts Due to Card Issuing Banks for Overdrawn Accounts [Policy Text Block] | ' | |||||||||||
Amounts Due to Card Issuing Banks for Overdrawn Accounts | ||||||||||||
Our 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 Measurement, Policy [Policy Text Block] | ' | |||||||||||
Fair Value | ||||||||||||
Under applicable accounting guidance, fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability 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, Policy [Policy Text Block] | ' | |||||||||||
Revenue Recognition | ||||||||||||
Our operating revenues consist of card revenues and other fees, cash transfer revenues and interchange revenues. We recognize revenue when the price is fixed or determinable, persuasive evidence of an arrangement exists, the product is sold or the service is performed, and collectability of the resulting receivable is reasonably assured. | ||||||||||||
Card revenues and other fees consist of monthly maintenance fees, ATM fees, new card fees and other revenues. 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 the month for which they are assessed. 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 same time our service is completed and the fees are assessed. We charge new card fees when a consumer purchases a new card in a retail store. We defer and recognize new card fee revenues on a straight-line basis over our average card lifetime, which is currently seven months for our GPR cards and six months for our gift cards. We determine the average card lifetime based on our recent historical data for comparable products. We measure card lifetime for our GPR cards as the period of time, inclusive of reload activity, between sale (or activation) of the card and the date of the last positive balance. We measure the card lifetime for our gift cards as the redemption period during which cardholders perform the substantial majority of their transactions. We reassess average card lifetime quarterly. We report the unearned portion of new card fees as a component of deferred revenue in our consolidated balance sheets. Other revenues consist primarily of fees associated with optional products or services, which we generally offer to consumers during the card activation process. Optional products and services include providing a second card for an account, expediting delivery of the personalized debit card that replaces the temporary card obtained at the retail store, and upgrading a cardholder account to one of our upgrade programs. We generally recognize revenue related to optional products and services when the underlying services are completed, but we treat revenues related to our upgrade programs in a manner similar to new card fees and monthly maintenance fees. | ||||||||||||
We generate cash transfer revenues when consumers purchase our cash transfer products (reload services) in a retail store. We recognize these revenues when the cash transfer transactions are completed, generally within two business days from the time of sale of these products. | ||||||||||||
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 cardholders make purchase transactions using our cards. We recognize interchange revenues as these transactions occur. | ||||||||||||
Note 2—Summary of Significant Accounting Policies (continued) | ||||||||||||
We report our different types of revenues on a gross or net basis based on our assessment of whether we act as a principal or an agent in the transaction. To the extent we act as a principal in the transaction, we report revenues on a gross basis. In concluding whether or not we act as a principal or an agent, we evaluate whether we have the substantial risks and rewards under the terms of the revenue-generating arrangements, whether we are the party responsible for fulfillment of the services purchased by the cardholders, and other factors. For all of our significant revenue-generating arrangements, including GPR and gift cards, we record revenues on a gross basis. | ||||||||||||
Generally, customers have limited rights to a refund of a new card fee or a cash transfer fee. We have elected to recognize revenues prior to the expiration of the refund period, but reduce revenues by the amount of expected refunds, which we estimate based on actual historical refunds. | ||||||||||||
On occasion, we enter into incentive agreements with our retail distributors and offer incentives to customers designed to increase product acceptance and sales volume. We record incentive payments, including the issuance of equity instruments, as a reduction of revenues and recognize them over the period the related revenues are recognized or as services are rendered, as applicable. | ||||||||||||
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | ' | |||||||||||
Employee Stock-Based Compensation | ||||||||||||
We record employee stock-based compensation expense using the fair value method of accounting. 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 Merton 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. | ||||||||||||
Income Tax, Policy [Policy Text Block] | ' | |||||||||||
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 Share, Policy [Policy Text Block] | ' | |||||||||||
Earnings Per Common Share | ||||||||||||
We apply the two-class method in calculating earnings per common share, or EPS, because our preferred stockholders are entitled to participate with our common stockholders in the distributions of earnings through dividends. The two-class method requires net income, after deduction of any preferred stock dividends, deemed dividends on preferred stock redemptions, and accretions in the carrying value on preferred stock, to be allocated between each class or series of common and preferred stockholders 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. | ||||||||||||
In addition, for diluted EPS, the conversion of Class B common stock will affect net income allocated to Class A common stockholders. Where the effect of this conversion is dilutive, we adjust net income allocated to Class A common stockholders by the associated allocated earnings of the convertible securities. We divide 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 and restricted stock units and outstanding warrants, shares to be purchased under our employee stock purchase plan and the dilution resulting from the conversion of convertible securities, if applicable. We exclude the effects of convertible securities and outstanding warrants and stock options from the computation of diluted EPS in periods in which the effect would be anti-dilutive. We calculate dilutive potential common shares using the treasury stock method, if-converted method and the two-class method, as applicable. | ||||||||||||
Regulatory Capital Requirements under Banking Regulations [Text Block] | ' | |||||||||||
Regulatory Matters and Capital Adequacy | ||||||||||||
We became a bank holding company on December 8, 2011. 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 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. | ||||||||||||
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 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 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, 2013, we were categorized as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized, we must maintain specific total risk-based, Tier I risk-based, and Tier I leverage ratios as set forth in the table below. There are no conditions or events since December 31, 2013 which management believes would have changed our category as well capitalized. | ||||||||||||
The actual amounts and ratios, and required minimum capital amounts and ratios by which we exceed these minimum ratios at December 31, 2013 and 2012 were as follows: | ||||||||||||
Actual | Regulatory "well capitalized" minimum | |||||||||||
Amount | Ratio | Amount | Ratio | |||||||||
31-Dec-13 | (In thousands, except ratios) | |||||||||||
Tier 1 leverage | 370,476 | 45.8 | % | 40,418 | 5 | % | ||||||
Tier 1 risk-based capital | 370,476 | 100.8 | 22,057 | 6 | ||||||||
Total risk-based capital | 370,476 | 100.8 | 36,762 | 10 | ||||||||
31-Dec-12 | ||||||||||||
Tier 1 leverage | 289,323 | 47.8 | % | 30,266 | 5 | % | ||||||
Tier 1 risk-based capital | 289,323 | 84.3 | 20,591 | 6 | ||||||||
Total risk-based capital | 289,323 | 84.3 | 34,318 | 10 | ||||||||
New Accounting Pronouncements, Policy [Policy Text Block] | ' | |||||||||||
Recent Accounting Pronouncements | ||||||||||||
In July 2012, the FASB issued ASU 2012-02, Intangibles—Goodwill and Other, allowing an entity to perform a qualitative impairment assessment of indefinite-lived intangible assets before proceeding to the two-step impairment test. If the entity determines, on the basis of qualitative factors, that the fair value of the indefinite-lived intangible asset is not more likely than not (i.e., a likelihood of more than 50 percent) impaired, the entity would not need to calculate the fair value of the asset. In addition, the ASU does not amend the requirement to test these assets for impairment between annual tests if there is a change in events or circumstances; however, it does revise the examples of events and circumstances that an entity should consider in interim periods. ASU 2012-02 became effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012, with early adoption being permitted. Our adoption of this ASU is did not have a material impact on our consolidated financial statements. | ||||||||||||
In February 2013, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2013-02, Comprehensive Income: Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income, which requires companies to report, in one place, information about significant reclassifications out of accumulated other comprehensive income, or AOCI, and disclose more information about changes in AOCI balances. We adopted this ASU in the first quarter of 2013. The adoption of this standard did not have a significant impact on our consolidated financial statements. | ||||||||||||
Recent Accounting Pronouncements, Policy | ' | |||||||||||
In July 2013, the FASB issued ASU 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists, which provides guidance for the financial statement presentation of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. We will adopt the standard effective January 1, 2014. Our adoption of this ASU is not expected to have a material impact on our consolidated financial statements. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies Estimate Useful Lives (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property, Plant and Equipment [Line Items] | ' | |||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||
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 | 3-4 years | |||||||
Computer software purchased | 3 years | |||||||
Capitalized internal-use software | 2 years | |||||||
Tenant improvements | Shorter of the useful life or the lease term | |||||||
Property and equipment consisted of the following: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Land | $ | 205 | $ | 205 | ||||
Building | 461 | 543 | ||||||
Computer equipment, furniture, and office equipment | 34,508 | 23,690 | ||||||
Computer software purchased | 13,123 | 10,914 | ||||||
Capitalized internal-use software | 62,871 | 52,501 | ||||||
Tenant improvements | 7,482 | 7,076 | ||||||
118,650 | 94,929 | |||||||
Less accumulated depreciation and amortization | (58,177 | ) | (36,553 | ) | ||||
Property and equipment, net | $ | 60,473 | $ | 58,376 | ||||
Investment_Securities_Tables
Investment Securities (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Investment Securities [Abstract] | ' | |||||||||||||||||||||||
Investment securities, available-for-sale | ' | |||||||||||||||||||||||
As of December 31, 2013 and December 31, 2012, 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 | Total unrealized loss | |||||||||||||||||||||
Fair value | Unrealized loss | Fair value | Unrealized loss | fair value | ||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Corporate bonds | $ | 24,104 | $ | (13 | ) | $ | — | $ | — | $ | 24,104 | $ | (13 | ) | ||||||||||
Commercial paper | 4,490 | (1 | ) | — | — | 4,490 | (1 | ) | ||||||||||||||||
U.S. Treasury notes | 5,212 | (1 | ) | — | — | 5,212 | (1 | ) | ||||||||||||||||
Mortgage-backed securities | 4,002 | (168 | ) | — | — | 4,002 | (168 | ) | ||||||||||||||||
Municipal bonds | 8,546 | (14 | ) | — | — | 8,546 | (14 | ) | ||||||||||||||||
Asset-backed securities | 11,797 | (5 | ) | — | — | $ | 11,797 | $ | (5 | ) | ||||||||||||||
Total investment securities | $ | 58,151 | $ | (202 | ) | $ | — | $ | — | $ | 58,151 | $ | (202 | ) | ||||||||||
December 31, 2012 | ||||||||||||||||||||||||
Corporate bonds | $ | 6,138 | $ | (2 | ) | $ | — | $ | — | $ | 6,138 | $ | (2 | ) | ||||||||||
Commercial paper | 6,390 | (2 | ) | — | — | 6,390 | (2 | ) | ||||||||||||||||
Agency securities | 6,302 | (1 | ) | — | — | 6,302 | (1 | ) | ||||||||||||||||
Municipal bonds | 1,602 | (3 | ) | — | — | 1,602 | (3 | ) | ||||||||||||||||
Total investment securities | $ | 20,432 | $ | (8 | ) | $ | — | $ | — | $ | 20,432 | $ | (8 | ) | ||||||||||
Our available-for-sale investment securities were as follows: | ||||||||||||||||||||||||
Amortized cost | Gross unrealized gains | Gross unrealized losses | Fair value | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
December 31, 2013 | ||||||||||||||||||||||||
Corporate bonds | $ | 70,965 | $ | 45 | $ | (13 | ) | $ | 70,997 | |||||||||||||||
Commercial paper | 49,307 | 15 | (1 | ) | 49,321 | |||||||||||||||||||
Negotiable certificate of deposit | 4,400 | 3 | — | 4,403 | ||||||||||||||||||||
U.S. Treasury notes | 14,265 | 14 | (1 | ) | 14,278 | |||||||||||||||||||
Agency securities | 14,946 | 13 | — | 14,959 | ||||||||||||||||||||
Mortgage-backed securities | 4,169 | — | (168 | ) | 4,001 | |||||||||||||||||||
Municipal bonds | 19,017 | 28 | (14 | ) | 19,031 | |||||||||||||||||||
Asset-backed securities | 21,750 | 9 | (5 | ) | 21,754 | |||||||||||||||||||
Total investment securities | $ | 198,819 | $ | 127 | $ | (202 | ) | $ | 198,744 | |||||||||||||||
December 31, 2012 | ||||||||||||||||||||||||
Corporate bonds | $ | 37,320 | $ | 39 | $ | (2 | ) | $ | 37,357 | |||||||||||||||
Commercial paper | 55,733 | 17 | (2 | ) | 55,748 | |||||||||||||||||||
Negotiable certificate of deposit | 4,400 | 14 | — | 4,414 | ||||||||||||||||||||
U.S. Treasury notes | 22,258 | 9 | — | 22,267 | ||||||||||||||||||||
Agency securities | 25,845 | 23 | (1 | ) | 25,867 | |||||||||||||||||||
Municipal bonds | 11,528 | 43 | (3 | ) | 11,568 | |||||||||||||||||||
Asset-backed securities | 26,533 | 33 | — | 26,566 | ||||||||||||||||||||
Total investment securities | $ | 183,617 | $ | 178 | $ | (8 | ) | $ | 183,787 | |||||||||||||||
Investments Classified by Contractual Maturity Date | ' | |||||||||||||||||||||||
As of December 31, 2013, the contractual maturities of our available-for-sale investment securities were as follows: | ||||||||||||||||||||||||
Amortized cost | Fair value | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Due in one year or less | $ | 115,166 | $ | 116,159 | ||||||||||||||||||||
Due after one year through five years | 56,644 | 56,700 | ||||||||||||||||||||||
Due after five years through ten years | 590 | 588 | ||||||||||||||||||||||
Due after ten years | 500 | 496 | ||||||||||||||||||||||
Mortgage and asset-backed securities | 25,919 | 24,801 | ||||||||||||||||||||||
Total investment securities | $ | 198,819 | $ | 198,744 | ||||||||||||||||||||
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_Tables
Accounts Receivable (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Accounts, Notes, Loans and Financing Receivable, Net, Current [Abstract] | ' | |||||||||||
Accounts Receivable | ' | |||||||||||
Accounts Receivable | ||||||||||||
Accounts receivable, net consisted of the following: | ||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||
(In thousands) | ||||||||||||
Overdrawn account balances due from cardholders | $ | 14,749 | $ | 24,328 | ||||||||
Reserve for uncollectible overdrawn accounts | (10,363 | ) | (15,677 | ) | ||||||||
Net overdrawn account balances due from cardholders | 4,386 | 8,651 | ||||||||||
Trade receivables | 4,302 | 5,686 | ||||||||||
Reserve for uncollectible trade receivables | (42 | ) | (69 | ) | ||||||||
Net trade receivables | 4,260 | 5,617 | ||||||||||
Receivables due from card issuing banks | 42,137 | 33,729 | ||||||||||
Other receivables | 1,514 | 3,375 | ||||||||||
Accounts receivable, net | $ | 52,297 | $ | 51,372 | ||||||||
Activity in the reserve for uncollectible overdrawn accounts consisted of the following: | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Balance, beginning of period | $ | 15,677 | $ | 15,309 | $ | 11,823 | ||||||
Provision for uncollectible overdrawn accounts: | ||||||||||||
Fees | 45,048 | 59,445 | 55,048 | |||||||||
Purchase transactions | 2,225 | 2,900 | 5,514 | |||||||||
Charge-offs | (52,587 | ) | (61,977 | ) | (57,076 | ) | ||||||
Balance, end of period | $ | 10,363 | $ | 15,677 | $ | 15,309 | ||||||
Accounts receivable, net consisted of the following: | ||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||
(In thousands) | ||||||||||||
Overdrawn account balances due from cardholders | $ | 14,749 | $ | 24,328 | ||||||||
Reserve for uncollectible overdrawn accounts | (10,363 | ) | (15,677 | ) | ||||||||
Net overdrawn account balances due from cardholders | 4,386 | 8,651 | ||||||||||
Trade receivables | 4,302 | 5,686 | ||||||||||
Reserve for uncollectible trade receivables | (42 | ) | (69 | ) | ||||||||
Net trade receivables | 4,260 | 5,617 | ||||||||||
Receivables due from card issuing banks | 42,137 | 33,729 | ||||||||||
Other receivables | 1,514 | 3,375 | ||||||||||
Accounts receivable, net | $ | 52,297 | $ | 51,372 | ||||||||
Loans_to_Bank_Customers_Tables
Loans to Bank Customers (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Loans and Leases Receivable Disclosure [Abstract] | ' | |||||||||||||||||||||||
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, 2013 | ||||||||||||||||||||||||
Real estate | $ | — | $ | — | $ | 11 | $ | 11 | $ | 3,372 | $ | 3,383 | ||||||||||||
Commercial | — | — | — | — | 1,474 | 1,474 | ||||||||||||||||||
Installment | — | — | 3 | 3 | 2,506 | 2,509 | ||||||||||||||||||
Total loans | $ | — | $ | — | $ | 14 | $ | 14 | $ | 7,352 | $ | 7,366 | ||||||||||||
Percentage of outstanding | — | % | — | % | 0.2 | % | 0.2 | % | 99.8 | % | 100 | % | ||||||||||||
December 31, 2012 | ||||||||||||||||||||||||
Real estate | $ | 91 | $ | — | $ | — | $ | 91 | $ | 3,465 | $ | 3,556 | ||||||||||||
Commercial | 77 | — | — | 77 | 1,102 | 1,179 | ||||||||||||||||||
Installment | 22 | 3 | — | 25 | 3,267 | 3,292 | ||||||||||||||||||
Total loans | $ | 190 | $ | 3 | $ | — | $ | 193 | $ | 7,834 | $ | 8,027 | ||||||||||||
Percentage of outstanding | 2.4 | % | — | % | — | % | 2.4 | % | 97.6 | % | 100 | % | ||||||||||||
Nonperforming Loans | ' | |||||||||||||||||||||||
Nonperforming Loans | ||||||||||||||||||||||||
The following table presents the carrying value, gross of the related allowance for loan losses, of our nonperforming loans, other than purchased credit impaired, or PCI loans. See Note 2–Summary of Significant Accounting Policies for further information on the criteria for classification as nonperforming. | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Real estate | $ | 117 | $ | 96 | ||||||||||||||||||||
Commercial | 106 | 136 | ||||||||||||||||||||||
Installment | 250 | 173 | ||||||||||||||||||||||
Total loans | $ | 473 | $ | 405 | ||||||||||||||||||||
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, 2013 | December 31, 2012 | |||||||||||||||||||||||
Non-Classified | Classified | Non-Classified | Classified | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Real estate | $ | 3,003 | $ | 380 | $ | 3,282 | $ | 274 | ||||||||||||||||
Commercial | 1,323 | 151 | 978 | 201 | ||||||||||||||||||||
Installment | 2,058 | 451 | 2,963 | 329 | ||||||||||||||||||||
Total loans | $ | 6,384 | $ | 982 | $ | 7,223 | $ | 804 | ||||||||||||||||
Troubled Debt Restructurings | ' | |||||||||||||||||||||||
The following table presents our impaired loans and loans that we modified in TDRs as of December 31, 2013 and December 31, 2012: | ||||||||||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||||||||||
Unpaid Principal Balance | Carrying Value | Unpaid Principal Balance | Carrying Value | |||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Real estate | $ | 194 | $ | 117 | $ | 194 | $ | 96 | ||||||||||||||||
Commercial | 344 | 106 | 280 | 136 | ||||||||||||||||||||
Installment | 500 | 250 | 403 | 173 | ||||||||||||||||||||
Allowance for Loan Losses | ' | |||||||||||||||||||||||
Activity in the allowance for loan losses consisted of the following: | ||||||||||||||||||||||||
Year Ended December 31, | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||
Balance, beginning of period | $ | 475 | $ | — | $ | — | ||||||||||||||||||
Provision for loans | — | 698 | — | |||||||||||||||||||||
Loans charged off | (25 | ) | (223 | ) | — | |||||||||||||||||||
Recoveries of loans previously charged off | 14 | — | — | |||||||||||||||||||||
Balance, end of period | $ | 464 | $ | 475 | $ | — | ||||||||||||||||||
Property_Equipment_Tables
Property & Equipment (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Property and Equipment [Abstract] | ' | |||||||
Property, Plant and Equipment [Table Text Block] | ' | |||||||
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 | 3-4 years | |||||||
Computer software purchased | 3 years | |||||||
Capitalized internal-use software | 2 years | |||||||
Tenant improvements | Shorter of the useful life or the lease term | |||||||
Property and equipment consisted of the following: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
(In thousands) | ||||||||
Land | $ | 205 | $ | 205 | ||||
Building | 461 | 543 | ||||||
Computer equipment, furniture, and office equipment | 34,508 | 23,690 | ||||||
Computer software purchased | 13,123 | 10,914 | ||||||
Capitalized internal-use software | 62,871 | 52,501 | ||||||
Tenant improvements | 7,482 | 7,076 | ||||||
118,650 | 94,929 | |||||||
Less accumulated depreciation and amortization | (58,177 | ) | (36,553 | ) | ||||
Property and equipment, net | $ | 60,473 | $ | 58,376 | ||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||
Schedule of Intangible Assets and Goodwill [Table Text Block] | ' | |||||||||||||||
Goodwill and intangible assets on our consolidated balance sheets consisted of the following: | ||||||||||||||||
December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
(In thousands) | ||||||||||||||||
Goodwill | $ | 27,250 | $ | 27,250 | ||||||||||||
Intangible assets, net | 3,426 | 3,554 | ||||||||||||||
Goodwill and intangible assets | 30,676 | 30,804 | ||||||||||||||
Schedule of Goodwill [Table Text Block] | ' | |||||||||||||||
Changes in the carrying amount of goodwill were as follows: | ||||||||||||||||
December 31, | ||||||||||||||||
2013 | 2012 | |||||||||||||||
(In thousands) | ||||||||||||||||
Balance, beginning of period | $ | 27,250 | $ | 10,817 | ||||||||||||
Acquisitions | — | 16,350 | ||||||||||||||
Other changes | — | 83 | ||||||||||||||
Balance, end of period | $ | 27,250 | $ | 27,250 | ||||||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | |||||||||||||||
The gross carrying amounts and accumulated amortization related to intangibles assets were as follows: | ||||||||||||||||
31-Dec-13 | 31-Dec-12 | |||||||||||||||
Gross Carrying Value | Accumulated Amortization | Gross Carrying Value | Accumulated Amortization | |||||||||||||
(In thousands) | (In thousands) | |||||||||||||||
Finite-lived intangibles | $ | 926 | $ | (500 | ) | $ | 926 | $ | (372 | ) | ||||||
Indefinite-lived intangibles | 3,000 | N/A | 3,000 | N/A | ||||||||||||
Total intangible assets | $ | 3,926 | $ | (500 | ) | $ | 3,926 | $ | (372 | ) | ||||||
Deposits_Tables
Deposits (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Contractual Maturities [Abstract] | ' | |||||||
Summary of Deposits [Table Text Block] | ' | |||||||
Deposits were categorized as non-interest and interest-bearing deposits as follows: | ||||||||
December 31, | ||||||||
2013 | 2012 | |||||||
Non-interest bearing deposit accounts | (In thousands) | |||||||
GPR deposits | $ | 204,171 | $ | 165,739 | ||||
Other demand deposits | — | 16,138 | ||||||
Total non-interest bearing deposit accounts | 204,171 | 181,877 | ||||||
Interest-bearing deposit accounts | ||||||||
Negotiable order of withdrawal (NOW) | 1,401 | 1,860 | ||||||
Savings | 6,410 | 5,986 | ||||||
Time deposits, denominations greater than or equal to $100 | 5,310 | 6,417 | ||||||
Time deposits, denominations less than $100 | 2,288 | 2,311 | ||||||
Total interest-bearing deposit accounts | 15,409 | 16,574 | ||||||
Total deposits | $ | 219,580 | $ | 198,451 | ||||
Contractual Maturities For Total Time Deposits [Table Text Block] | ' | |||||||
The scheduled contractual maturities for total time deposits are presented in the table below: | ||||||||
December 31, 2013 | ||||||||
(In thousands) | ||||||||
Due in 2014 | $ | 3,551 | ||||||
Due in 2015 | 2,207 | |||||||
Due in 2016 | 1,100 | |||||||
Due in 2017 | 694 | |||||||
Due in 2018 | 46 | |||||||
Thereafter | — | |||||||
Total time deposits | $ | 7,598 | ||||||
The scheduled contractual maturities for total time deposits are presented in the table below: | ||||||||
December 31, 2013 | ||||||||
(In thousands) | ||||||||
Due in 2014 | $ | 3,551 | ||||||
Due in 2015 | 2,207 | |||||||
Due in 2016 | 1,100 | |||||||
Due in 2017 | 694 | |||||||
Due in 2018 | 46 | |||||||
Thereafter | — | |||||||
Total time deposits | $ | 7,598 | ||||||
Employee_StockBased_Compensati1
Employee Stock-Based Compensation (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Share-based Compensation [Abstract] | ' | ||||||||||||
Stock-based Compensation Expense | ' | ||||||||||||
Stock-based compensation for the years ended December 31, 2013, 2012, and 2011 includes expense related to awards of stock options and restricted stock units and purchases under the 2010 Employee Stock Purchase Plan. Total stock-based compensation expense and the related income tax benefit are as follows: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands) | |||||||||||||
Total stock-based compensation expense | $ | 14,703 | $ | 12,734 | $ | 9,524 | |||||||
Related income tax benefit | 1,410 | 1,465 | 1,890 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value [Table Text Block] | ' | ||||||||||||
The following table summarizes stock options and restricted stock units granted: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
(In thousands, except per share data) | |||||||||||||
Stock options granted | 2,236 | 2,247 | 889 | ||||||||||
Weighted-average exercise price | $ | 18.88 | $ | 19.35 | $ | 38.7 | |||||||
Weighted-average grant-date fair value | $ | 7.2 | $ | 8.92 | $ | 18.62 | |||||||
Restricted stock units granted | 1,272 | 613 | 111 | ||||||||||
Weighted-average grant-date fair value | $ | 22.16 | $ | 14.14 | $ | 33.46 | |||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ||||||||||||
We estimated the fair value of each stock option grant on the date of grant using the following weighted-average assumptions: | |||||||||||||
Year Ended December 31, | |||||||||||||
2013 | 2012 | 2011 | |||||||||||
Risk-free interest rate | 1.2 | % | 1 | % | 2.1 | % | |||||||
Expected term (life) of options (in years) | 5.86 | 6.07 | 6.06 | ||||||||||
Expected dividends | — | — | — | ||||||||||
Expected volatility | 43.4 | % | 47.5 | % | 48.3 | % | |||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||||||
Stock option activity for the year ended December 31, 2013 was as follows: | |||||||||||||
Options | Weighted-Average Exercise Price | Weighted-Average Remaining Contractual Life | Aggregate Intrinsic Value | ||||||||||
(in Years) | |||||||||||||
(In thousands, except per share data and years) | |||||||||||||
Outstanding at December 31, 2012 | 5,717 | $ | 15.72 | ||||||||||
Options granted | 2,236 | 18.88 | |||||||||||
Options exercised | (1,428 | ) | 9.67 | ||||||||||
Options canceled | (1,313 | ) | 24.36 | ||||||||||
Outstanding at December 31, 2013 | 5,212 | $ | 16.62 | 6.73 | $ | 48,290 | |||||||
Vested or expected to vest at December 31, 2013 | 4,956 | 16.48 | 6.61 | $ | 46,690 | ||||||||
Exercisable at December 31, 2013 | 2,456 | 14.03 | 4.26 | $ | 29,555 | ||||||||
The total intrinsic value of options exercised was $17.9 million, $8.5 million and $4.4 million for the years ended December 31, 2013, 2012, and 2011, respectively. | |||||||||||||
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block] | ' | ||||||||||||
Restricted stock unit activity for the year ended December 31, 2013 was as follows: | |||||||||||||
Shares | Weighted-Average Grant-Date Fair Value | ||||||||||||
(In thousands) | |||||||||||||
Outstanding at December 31, 2012 | 616 | $ | 15.1 | ||||||||||
Restricted stock units granted | 1,272 | $ | 22.16 | ||||||||||
Restricted stock units canceled | (238 | ) | $ | 17.54 | |||||||||
Restricted stock units vested | (196 | ) | $ | 15.22 | |||||||||
Outstanding at December 31, 2013 | 1,454 | $ | 20.87 | ||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | ' | |||||||||||
The components of income tax expense included in our consolidated statements of operations were as follows: | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Current: | ||||||||||||
Federal | $ | 11,880 | $ | 21,322 | $ | 29,583 | ||||||
State | 1,116 | 1,805 | 2,096 | |||||||||
Current income tax expense | 12,996 | 23,127 | 31,679 | |||||||||
Deferred: | ||||||||||||
Federal | $ | 6,776 | 5,931 | 251 | ||||||||
State | (1,312 | ) | (139 | ) | — | |||||||
Deferred income tax expense | 5,464 | 5,792 | 251 | |||||||||
Income tax expense | $ | 18,460 | $ | 28,919 | $ | 31,930 | ||||||
Recon of fed tax rate and actual income tax expense | ' | |||||||||||
: | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
U.S. federal statutory tax rate | 35 | % | 35 | % | 35 | % | ||||||
State income taxes, net of federal benefit | (0.2 | ) | 1.9 | 1.6 | ||||||||
General business credits | (2.3 | ) | (0.4 | ) | — | |||||||
Employee stock-based compensation | 1.4 | 1.4 | 1.2 | |||||||||
Other | 1.2 | 0.3 | 0.2 | |||||||||
Effective tax rate | 35.1 | % | 38.2 | % | 38 | % | ||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | |||||||||||
The tax effects of temporary difference that give rise to significant portions of our deferred tax assets and liabilities were as follows: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
(In thousands) | ||||||||||||
Deferred tax assets: | ||||||||||||
Net operating loss carryforwards | $ | 12,276 | $ | 13,655 | ||||||||
Stock-based compensation | 6,397 | 7,057 | ||||||||||
Reserve for overdrawn accounts | 4,088 | 6,130 | ||||||||||
Accrued liabilities | 5,354 | 3,191 | ||||||||||
Tax credit carryforwards | 2,298 | — | ||||||||||
Other | 984 | 1,272 | ||||||||||
Gross deferred tax assets | 31,397 | 31,305 | ||||||||||
Valuation allowance | (1,228 | ) | (1,262 | ) | ||||||||
Total deferred tax assets, net of valuation allowance | $ | 30,169 | $ | 30,043 | ||||||||
Deferred tax liabilities: | ||||||||||||
Internal-use software costs | $ | 10,587 | $ | 9,986 | ||||||||
Property and equipment, net | 5,534 | 6,013 | ||||||||||
Deferred expenses | 5,083 | 4,013 | ||||||||||
Intangible assets | 1,156 | 1,386 | ||||||||||
Gift card revenue | 6,637 | 1,063 | ||||||||||
Other | 1,526 | 475 | ||||||||||
Total deferred tax liabilities | $ | 30,523 | $ | 22,936 | ||||||||
Net deferred tax (liabilities) assets | $ | (354 | ) | $ | 7,107 | |||||||
Total net deferred tax assets and liabilities are included in our consolidated balance sheets as follows: | ||||||||||||
December 31, | ||||||||||||
2013 | 2012 | |||||||||||
(In thousands) | ||||||||||||
Current net deferred tax (liabilities) assets | $ | (3,716 | ) | $ | 2,478 | |||||||
Noncurrent net deferred tax assets | 3,362 | 4,629 | ||||||||||
Net deferred tax (liabilities) assets | $ | (354 | ) | $ | 7,107 | |||||||
Summary of Income Tax Contingencies | ' | |||||||||||
As of December 31, 2013 and 2012, we had a liability of $3.7 million and $1.5 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, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands) | ||||||||||||
Beginning balance | $ | 1,481 | $ | — | $ | — | ||||||
Increases related to positions taken during prior years | 931 | 970 | — | |||||||||
Increases related to positions taken during the current year | 1,312 | 511 | — | |||||||||
Ending balance | $ | 3,724 | $ | 1,481 | $ | — | ||||||
The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate | $ | 3,724 | $ | 1,481 | $ | — | ||||||
Earnings_per_Common_Share_Tabl
Earnings per Common Share (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Earnings Per Common Share | ' | |||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands, except per share data) | ||||||||||||
Basic earnings per Class A common share | ||||||||||||
Net income | $ | 34,040 | $ | 47,219 | $ | 52,083 | ||||||
Income attributable to preferred stock | (5,360 | ) | (7,599 | ) | (558 | ) | ||||||
Income attributable to other classes of common stock | (2,677 | ) | (6,719 | ) | (24,022 | ) | ||||||
Net income allocated to Class A common stockholders | $ | 26,003 | $ | 32,901 | $ | 27,503 | ||||||
Weighted-average Class A shares issued and outstanding | 33,272 | 29,698 | 22,238 | |||||||||
Basic earnings per Class A common share | $ | 0.78 | $ | 1.11 | $ | 1.24 | ||||||
Diluted earnings per Class A common share | ||||||||||||
Net income allocated to Class A common stockholders | $ | 26,003 | $ | 32,901 | $ | 27,503 | ||||||
Re-allocated earnings | 2,207 | 5,612 | 22,549 | |||||||||
Diluted net income allocated to Class A common stockholders | 28,210 | 38,513 | 50,052 | |||||||||
Weighted-average Class A shares issued and outstanding | 33,272 | 29,698 | 22,238 | |||||||||
Dilutive potential common shares: | ||||||||||||
Class B common stock | 2,603 | 6,150 | 19,822 | |||||||||
Stock options | 1,078 | 20 | — | |||||||||
Restricted stock units | 203 | 43 | 3 | |||||||||
Employee stock purchase plan | — | 22 | 2 | |||||||||
Diluted weighted-average Class A shares issued and outstanding | 37,156 | 35,933 | 42,065 | |||||||||
Diluted earnings per Class A common share | $ | 0.76 | $ | 1.07 | $ | 1.19 | ||||||
Note 12—Earnings per Common Share (continued) | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands, except per share data) | ||||||||||||
Basic earnings per Class B common share | ||||||||||||
Net income | $ | 34,040 | $ | 47,219 | $ | 52,083 | ||||||
Income attributable to preferred stock | (5,360 | ) | (7,599 | ) | (558 | ) | ||||||
Income attributable to other classes of common stock | (26,645 | ) | (34,301 | ) | (29,613 | ) | ||||||
Net income allocated to Class B common stockholders | $ | 2,035 | $ | 5,319 | $ | 21,912 | ||||||
Weighted-average Class B shares issued and outstanding | 2,603 | 4,801 | 17,718 | |||||||||
Basic earnings per Class B common share | $ | 0.78 | $ | 1.11 | $ | 1.24 | ||||||
Diluted earnings per Class B common share | ||||||||||||
Net income allocated to Class B common stockholders | $ | 2,035 | $ | 5,319 | $ | 21,912 | ||||||
Re-allocated earnings | (58 | ) | 1,273 | 1,673 | ||||||||
Diluted net income allocated to Class B common stockholders | $ | 1,977 | $ | 6,592 | $ | 23,585 | ||||||
Weighted-average Class B shares issued and outstanding | 2,603 | 4,801 | 17,718 | |||||||||
Dilutive potential common shares: | ||||||||||||
Stock options | — | 1,349 | 2,104 | |||||||||
Diluted weighted-average Class B shares issued and outstanding | 2,603 | 6,150 | 19,822 | |||||||||
Diluted earnings per Class B common share | $ | 0.76 | $ | 1.07 | $ | 1.19 | ||||||
Antidilutive Shares | ' | |||||||||||
The following table shows the weighted-average number of anti-dilutive shares excluded from the diluted EPS calculation: | ||||||||||||
Year Ended December 31, | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(In thousands, except per share data) | ||||||||||||
Class A common stock | ||||||||||||
Options to purchase Class A common stock | 994 | 1,408 | 258 | |||||||||
Restricted stock units | 39 | 26 | — | |||||||||
Conversion of convertible preferred stock | 6,859 | 6,859 | 451 | |||||||||
Total options, restricted stock units and convertible preferred stock | 7,892 | 8,293 | 709 | |||||||||
Class B common stock | ||||||||||||
Options to purchase Class B common stock | — | 122 | 5 | |||||||||
Total options | — | 122 | 5 | |||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Assets Carried at Fair Value on a Recurring Basis | ' | |||||||||||||||
As of December 31, 2013 and December 31, 2012, our assets carried at fair value on a recurring basis were as follows: | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total Fair Value | |||||||||||||
December 31, 2013 | (In thousands) | |||||||||||||||
Corporate bonds | $ | — | $ | 70,997 | $ | — | $ | 70,997 | ||||||||
Commercial paper | — | 49,321 | — | 49,321 | ||||||||||||
Negotiable certificate of deposit | — | 4,403 | — | 4,403 | ||||||||||||
U.S. Treasury notes | — | 14,278 | — | 14,278 | ||||||||||||
Agency securities | — | 14,959 | — | 14,959 | ||||||||||||
Mortgage-backed securities | — | 4,001 | — | 4,001 | ||||||||||||
Municipal bonds | — | 19,031 | — | 19,031 | ||||||||||||
Asset-backed securities | — | 21,754 | — | 21,754 | ||||||||||||
Total | $ | — | $ | 198,744 | $ | — | $ | 198,744 | ||||||||
December 31, 2012 | ||||||||||||||||
Corporate bonds | $ | — | $ | 37,357 | $ | — | $ | 37,357 | ||||||||
Commercial paper | — | 55,748 | — | 55,748 | ||||||||||||
Negotiable certificate of deposit | — | 4,414 | — | 4,414 | ||||||||||||
U.S. treasury notes | — | 22,267 | — | 22,267 | ||||||||||||
Agency securities | — | 25,867 | — | 25,867 | ||||||||||||
Municipal bonds | — | 11,568 | — | 11,568 | ||||||||||||
Asset-backed securities | — | 26,566 | — | 26,566 | ||||||||||||
Total | $ | — | $ | 183,787 | $ | — | $ | 183,787 | ||||||||
Fair_Value_of_Financial_Instru1
Fair Value of Financial Instruments (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value of Assets Not Carried at Fair Value | ' | |||||||||||||||
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, 2013 and December 31, 2012 are presented in the table below. | ||||||||||||||||
December 31, 2013 | December 31, 2012 | |||||||||||||||
Carrying Value | Fair Value | Carrying Value | Fair Value | |||||||||||||
(In thousands) | ||||||||||||||||
Financial Assets | ||||||||||||||||
Loans to bank customers, net of allowance | $ | 6,902 | $ | 5,926 | $ | 7,552 | $ | 5,719 | ||||||||
Financial Liabilities | ||||||||||||||||
Deposits | $ | 219,580 | $ | 219,534 | $ | 198,451 | $ | 198,369 | ||||||||
Borrowing_Agreements_Tables
Borrowing Agreements (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2012 | ||||||||||
Borrowing Agreements [Abstract] | ' | |||||||||
Schedule of Line of Credit Facilities [Table Text Block] | ' | |||||||||
For the periods presented below, our line of credit had the following terms: | ||||||||||
Line of Credit | Interest Rate | Cash Collateral Requirements | ||||||||
(In millions, except interest rates) | ||||||||||
March 2012 - November 2012 | $ | 10 | LIBOR + 2.00% | $ | 10 | |||||
March 2011 - March 2012 | $ | 10 | LIBOR + 2.00% | $ | 10 | |||||
Commitments_and_Contingencies_
Commitments and Contingencies Commitments and Contingencies (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Long-term Purchase Commitment [Line Items] | ' | |||||||
Long-term Purchase Commitment [Table Text Block] | ' | |||||||
At December 31, 2013, the future minimum aggregate rental commitment under all operating leases and minimum annual payments through various agreements with vendors and retail distributors was: | ||||||||
Operating Leases | Vendor/Retail Distributor Commitments | |||||||
Year ending December 31, | (In thousands) | |||||||
2014 | $ | 4,187 | $ | 9,558 | ||||
2015 | 4,596 | 1,910 | ||||||
2016 | 4,726 | 6,550 | ||||||
2017 | 4,186 | 1,625 | ||||||
2018 | 4,156 | 12,600 | ||||||
Thereafter | 17,108 | 3,150 | ||||||
Total of future commitments | $ | 38,959 | $ | 35,393 | ||||
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | ' | |||||||
In December 2011, we entered into a ten-year office lease for 140,000 square feet of office space in Pasadena, California. This facility serves as our corporate headquarters. The initial term of the lease is ten years and is scheduled to expire on October 31, 2022. We are also bound to a property sub-lease agreement of approximately 5,000 square feet that expired in December 2013 and maintain smaller administrative or project offices. Our total rental expense for these and former leases amounted to $5.3 million, $6.4 million and $2.6 million for the years ended December 31, 2013, 2012 and 2011, respectively. |
Significant_Customer_Concentra1
Significant Customer Concentrations (Tables) | 12 Months Ended | |||||
Dec. 31, 2013 | ||||||
Significant Customer Concentrations [Abstract] | ' | |||||
Customer Concentrations | ' | |||||
Revenues derived from our products sold at our four largest retail distributors represented the following percentages of our total operating revenues: | ||||||
Year Ended December 31, | ||||||
2013 | 2012 | 2011 | ||||
Walmart | 64% | 64% | 61% | |||
Three other largest retail distributors, as a group | 22% | 20% | 20% | |||
Excluding stock-based retailer incentive compensation of $8.7 million, $8.3 million, $17.3 million and for the years ended December 31, 2013, 2012, and 2011, respectively, revenues derived from our products sold at our four largest retail distributors represented the following percentages of our total operating revenues: | ||||||
Year Ended December 31, | ||||||
2013 | 2012 | 2011 | ||||
Walmart | 65% | 65% | 62% | |||
Three other largest retail distributors, as a group | 21% | 20% | 19% | |||
The concentration of GPR cards activated (in units) and the concentration of sales of cash transfer products (in units) derived from our products sold at our four largest retail distributors was as follows: | ||||||
Year Ended December 31, | ||||||
2013 | 2012 | 2011 | ||||
Concentration of GPR cards activated (in units) | 82% | 87% | 80% | |||
Concentration of sales of cash transfer products (in units) | 87% | 88% | 90% | |||
Settlement assets derived from our products sold at our four largest retail distributors comprised the following percentages of the settlement assets recorded on our consolidated balance sheet: | ||||||
December 31, 2013 | December 31, 2012 | |||||
Walmart | 34% | 35% | ||||
Three other largest retail distributors, as a group | 39% | 38% |
Regulatory_Requirements_Tables
Regulatory Requirements (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | |||||||||||
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | ' | |||||||||||
The actual amounts and ratios, and required minimum capital amounts and ratios by which we exceed these minimum ratios at December 31, 2013 and 2012 were as follows: | ||||||||||||
Actual | Regulatory "well capitalized" minimum | |||||||||||
Amount | Ratio | Amount | Ratio | |||||||||
31-Dec-13 | (In thousands, except ratios) | |||||||||||
Tier 1 leverage | 370,476 | 45.8 | % | 40,418 | 5 | % | ||||||
Tier 1 risk-based capital | 370,476 | 100.8 | 22,057 | 6 | ||||||||
Total risk-based capital | 370,476 | 100.8 | 36,762 | 10 | ||||||||
31-Dec-12 | ||||||||||||
Tier 1 leverage | 289,323 | 47.8 | % | 30,266 | 5 | % | ||||||
Tier 1 risk-based capital | 289,323 | 84.3 | 20,591 | 6 | ||||||||
Total risk-based capital | 289,323 | 84.3 | 34,318 | 10 | ||||||||
Selected_Quarterly_Financial_I1
Selected Quarterly Financial Information (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Condensed Financial Information [Abstract] | ' | |||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | ' | |||||||||||||||
The following tables set forth a summary of our quarterly financial information for each of the four quarters in 2013 and 2012: | ||||||||||||||||
2013 | ||||||||||||||||
Q4 | Q3 | Q2 | Q1 | |||||||||||||
(In thousands, except per share data) | ||||||||||||||||
Total operating revenues | $ | 142,320 | $ | 136,544 | $ | 140,608 | $ | 154,149 | ||||||||
Total operating expenses | 141,856 | 128,570 | 123,253 | 130,810 | ||||||||||||
Operating income | 464 | 7,974 | 17,355 | 23,339 | ||||||||||||
Interest income, net | 949 | 778 | 839 | 802 | ||||||||||||
Income before income taxes | 1,413 | 8,752 | 18,194 | 24,141 | ||||||||||||
Income tax expense | 377 | 2,638 | 6,890 | 8,555 | ||||||||||||
Net income | $ | 1,036 | $ | 6,114 | $ | 11,304 | $ | 15,586 | ||||||||
Earnings per common share | ||||||||||||||||
Basic | ||||||||||||||||
Class A common stock | $ | 0.02 | $ | 0.14 | $ | 0.26 | $ | 0.36 | ||||||||
Class B common stock | $ | 0.02 | $ | 0.14 | $ | 0.26 | $ | 0.36 | ||||||||
Diluted | ||||||||||||||||
Class A common stock | $ | 0.02 | $ | 0.13 | $ | 0.25 | $ | 0.35 | ||||||||
Class B common stock | $ | 0.02 | $ | 0.13 | $ | 0.25 | $ | 0.35 | ||||||||
2012 | ||||||||||||||||
Q4 | Q3 | Q2 | Q1 | |||||||||||||
(In thousands, except per share data) | ||||||||||||||||
Total operating revenues | $ | 137,302 | $ | 132,759 | $ | 135,043 | $ | 141,181 | ||||||||
Total operating expenses | 122,812 | 117,882 | 117,908 | 115,543 | ||||||||||||
Operating income | 14,490 | 14,877 | 17,135 | 25,638 | ||||||||||||
Interest income, net | 933 | 962 | 1,168 | 935 | ||||||||||||
Income before income taxes | 15,423 | 15,839 | 18,303 | 26,573 | ||||||||||||
Income tax expense | 5,053 | 6,227 | 7,434 | 10,205 | ||||||||||||
Net income | $ | 10,370 | $ | 9,612 | $ | 10,869 | $ | 16,368 | ||||||||
Earnings per common share | ||||||||||||||||
Basic | ||||||||||||||||
Class A common stock | $ | 0.24 | $ | 0.23 | $ | 0.26 | $ | 0.39 | ||||||||
Class B common stock | $ | 0.24 | $ | 0.23 | $ | 0.26 | $ | 0.39 | ||||||||
Diluted | ||||||||||||||||
Class A common stock | $ | 0.24 | $ | 0.22 | $ | 0.25 | $ | 0.37 | ||||||||
Class B common stock | $ | 0.24 | $ | 0.22 | $ | 0.25 | $ | 0.37 | ||||||||
Organization_Acquisitions_Deta
Organization Acquisitions (Details) (Loopt, Inc. [Member], USD $) | Mar. 31, 2012 |
In Millions, unless otherwise specified | |
Loopt, Inc. [Member] | ' |
Business Acquisition [Line Items] | ' |
Cash paid for acquisitions | $33.60 |
Retention-based incentives | $9.80 |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies Supporting Policies (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
D | |||
M | |||
Impairment of capitalized software | $5,216,000 | $1,029,000 | $397,000 |
GPR Average Card Lifetime | '7 months | '7 months | ' |
Months to Settle Overdrawn Accounts | 2 | ' | ' |
Variable Interest Entity, Qualitative or Quantitative Information, Ownership Percentage | 50.00% | ' | ' |
Nonaccrual Status Threshold | 90 | ' | ' |
Gift Card Average Card Lifetime | '6 months | ' | ' |
Days to Recognize Cash Transfer Transactions | '2 days | ' | ' |
Sales Commissions and Fees | 161,859,000 | 145,462,000 | 121,430,000 |
Advertising Expense | 10,369,000 | 21,765,000 | 14,673,000 |
Manufacturing Costs | 46,142,000 | 42,643,000 | 32,644,000 |
Selling and Marketing Expense | 218,370,000 | 209,870,000 | 168,747,000 |
Shipping, Handling and Transportation Costs | $4,000,000 | $3,400,000 | $3,400,000 |
Maximum [Member] | ' | ' | ' |
GPR Average Card Lifetime Analysis Period | '30 months | '30 months | ' |
Investment_Securities_Gross_Ga
Investment Securities Gross Gains and Losses (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost Basis | $198,819 | $183,617 |
Gross Unrealized Gains | 127 | 178 |
Gross unrealized losses | -202 | -8 |
Total Fixed Income Secutities, Fair Value | 198,744 | 183,787 |
Corporate Bonds | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost Basis | 70,965 | 37,320 |
Gross Unrealized Gains | 45 | 39 |
Gross unrealized losses | -13 | -2 |
Total Fixed Income Secutities, Fair Value | 70,997 | 37,357 |
Commercial Paper | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost Basis | 49,307 | 55,733 |
Gross Unrealized Gains | 15 | 17 |
Gross unrealized losses | -1 | -2 |
Total Fixed Income Secutities, Fair Value | 49,321 | 55,748 |
Negotiable Certificates of Deposit | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost Basis | 4,400 | 4,400 |
Gross Unrealized Gains | 3 | 14 |
Gross unrealized losses | 0 | 0 |
Total Fixed Income Secutities, Fair Value | 4,403 | 4,414 |
US Treasury Notes | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost Basis | 14,265 | 22,258 |
Gross Unrealized Gains | 14 | 9 |
Gross unrealized losses | -1 | 0 |
Total Fixed Income Secutities, Fair Value | 14,278 | 22,267 |
Agencies Securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost Basis | 14,946 | 25,845 |
Gross Unrealized Gains | 13 | 23 |
Gross unrealized losses | 0 | -1 |
Total Fixed Income Secutities, Fair Value | 14,959 | 25,867 |
Mortgage-backed Securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost Basis | 4,169 | ' |
Gross Unrealized Gains | 0 | ' |
Gross unrealized losses | -168 | ' |
Total Fixed Income Secutities, Fair Value | 4,001 | ' |
Municipal Bonds | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost Basis | 19,017 | 11,528 |
Gross Unrealized Gains | 28 | 43 |
Gross unrealized losses | -14 | -3 |
Total Fixed Income Secutities, Fair Value | 19,031 | 11,568 |
Asset-backed Securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost Basis | 21,750 | 26,533 |
Gross Unrealized Gains | 9 | 33 |
Gross unrealized losses | -5 | 0 |
Total Fixed Income Secutities, Fair Value | $21,754 | $26,566 |
Investment_Securities_Continuo
Investment Securities Continuous Unrealized Loss (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Other than Temporary Impairment Losses, Investments | $0 | $0 |
Corporate Bonds | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair value, less than 12 months | 24,104 | 6,138 |
Unrealized losses, less than 12 months | -13 | -2 |
Fair value, 12 months or more | 0 | 0 |
Unrealized losses, 12 months or more | 0 | 0 |
Total fair value | 24,104 | 6,138 |
Total unrealized losses | -13 | -2 |
Commercial Paper | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair value, less than 12 months | 4,490 | 6,390 |
Unrealized losses, less than 12 months | -1 | -2 |
Fair value, 12 months or more | 0 | 0 |
Unrealized losses, 12 months or more | 0 | 0 |
Total fair value | 4,490 | 6,390 |
Total unrealized losses | -1 | -2 |
US Treasury Notes | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair value, less than 12 months | 5,212 | ' |
Unrealized losses, less than 12 months | -1 | ' |
Fair value, 12 months or more | 0 | ' |
Unrealized losses, 12 months or more | 0 | ' |
Total fair value | 5,212 | ' |
Total unrealized losses | -1 | ' |
Agencies Securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair value, less than 12 months | ' | 6,302 |
Unrealized losses, less than 12 months | ' | -1 |
Fair value, 12 months or more | ' | 0 |
Unrealized losses, 12 months or more | ' | 0 |
Total fair value | ' | 6,302 |
Total unrealized losses | ' | -1 |
Mortgage-backed Securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair value, less than 12 months | 4,002 | ' |
Unrealized losses, less than 12 months | -168 | ' |
Fair value, 12 months or more | 0 | ' |
Unrealized losses, 12 months or more | 0 | ' |
Total fair value | 4,002 | ' |
Total unrealized losses | -168 | ' |
Municipal Bonds | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair value, less than 12 months | 8,546 | 1,602 |
Unrealized losses, less than 12 months | -14 | -3 |
Fair value, 12 months or more | 0 | 0 |
Unrealized losses, 12 months or more | 0 | 0 |
Total fair value | 8,546 | 1,602 |
Total unrealized losses | -14 | -3 |
Asset-backed Securities | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair value, less than 12 months | 11,797 | ' |
Unrealized losses, less than 12 months | -5 | ' |
Fair value, 12 months or more | 0 | ' |
Unrealized losses, 12 months or more | 0 | ' |
Total fair value | 11,797 | ' |
Total unrealized losses | -5 | ' |
Total fixed income securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair value, less than 12 months | 58,151 | 20,432 |
Unrealized losses, less than 12 months | -202 | -8 |
Fair value, 12 months or more | 0 | 0 |
Unrealized losses, 12 months or more | 0 | 0 |
Total fair value | 58,151 | 20,432 |
Total unrealized losses | ($202) | ($8) |
Investment_Securities_Maturiti
Investment Securities Maturities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Available-for-sale Securities, Debt Maturities, Amortized Cost Basis, Fiscal Year Maturity [Abstract] | ' | ' |
Due in One Year or Less, Amortized Cost Basis | $115,166 | ' |
Due After One Year Through Five, Amortized Cost Basis | 56,644 | ' |
Due After Five Years Through Ten Years, Amortized Cost Basis | 590 | ' |
Due After Ten Years, Amortized Cost Basis | 500 | ' |
Asset-backed Securities, Amortized Cost Basis | 25,919 | ' |
Total Fixed Income Secutities, Amortized Cost Basis | 198,819 | ' |
Available-for-sale Securities, Debt Maturities, Fair Value, Fiscal Year Maturity [Abstract] | ' | ' |
Due in One Year or Less, Fair Value | 116,159 | ' |
Due After One Year Through Five, Fair Value | 56,700 | ' |
Due After One Year Through Five, Fair Value | 588 | ' |
Due After Ten Years, Fair Value | 496 | ' |
Asset-backed Securities, Fair Value | 24,801 | ' |
Total Fixed Income Secutities, Fair Value | $198,744 | $183,787 |
Accounts_Receivable_Accounts_r
Accounts Receivable Accounts receivable (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Accounts Receivable, Net | $52,297 | $51,372 | ' | ' |
Overdrawn Account Balances due from Cardholders [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Accounts Receivable, Gross | 14,749 | 24,328 | ' | ' |
Allowance for Doubtful Accounts Receivable | -10,363 | -15,677 | -15,309 | -11,823 |
Accounts Receivable, Net | 4,386 | 8,651 | ' | ' |
Trade receivables [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Accounts Receivable, Gross | 4,302 | 5,686 | ' | ' |
Allowance for Doubtful Accounts Receivable | -42 | -69 | ' | ' |
Accounts Receivable, Net | 4,260 | 5,617 | ' | ' |
Other receivables [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Accounts Receivable, Gross | 1,514 | 3,375 | ' | ' |
Receivables due from card issuing banks [Member] | ' | ' | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' | ' | ' |
Accounts Receivable, Gross | $42,137 | $33,729 | ' | ' |
Accounts_Receivable_Reserve_fo
Accounts Receivable Reserve for uncollectible overdrawn accounts activity (Details) (Reserve for uncollectible overdrawn accounts [Member], USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Reserve for uncollectible overdrawn accounts [Member] | ' | ' | ' |
Uncollectible Overdrawn Accounts [Roll Forward] | ' | ' | ' |
Balance, beginning of period | $15,677 | $15,309 | $11,823 |
Fees | 45,048 | 59,445 | 55,048 |
Purchase transactions | 2,225 | 2,900 | 5,514 |
Charge-offs | -52,587 | -61,977 | -57,076 |
Balance, end of period | $10,363 | $15,677 | $15,309 |
Loans_to_Bank_Customers_Loan_S
Loans to Bank Customers Loan Summary (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Total Outstanding Loans to Bank Customers | $6,902 | $7,552 |
Percentage outstanding, 30-59 days past due | 0.00% | 2.37% |
Percentage outstanding, 60-89 days past due | 0.00% | 0.04% |
Percentage outstanding, 90 days or more past due | 0.19% | 0.00% |
Loans, Percentage Outstanding, Total Past Due 30 Days or More | 0.19% | 2.40% |
Percentage outstanding, current or less than 30 days past due | 99.81% | 97.60% |
Percentage outstanding | 100.00% | 100.00% |
Real Estate Loans | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30-59 days past due | 0 | 91 |
60-89 days past due | 0 | 0 |
90 days or more past due | 11 | 0 |
Past due 30 days or more | 11 | 91 |
Total Current or Less Than 30 Days Past Due | 3,372 | 3,465 |
Total Outstanding Loans to Bank Customers | 3,383 | 3,556 |
Commercial Loans | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30-59 days past due | 0 | 77 |
60-89 days past due | 0 | 0 |
90 days or more past due | 0 | 0 |
Past due 30 days or more | 0 | 77 |
Total Current or Less Than 30 Days Past Due | 1,474 | 1,102 |
Total Outstanding Loans to Bank Customers | 1,474 | 1,179 |
Installment Loans | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30-59 days past due | 0 | 22 |
60-89 days past due | 0 | 3 |
90 days or more past due | 3 | 0 |
Past due 30 days or more | 3 | 25 |
Total Current or Less Than 30 Days Past Due | 2,506 | 3,267 |
Total Outstanding Loans to Bank Customers | 2,509 | 3,292 |
Loans Receivable [Member] | ' | ' |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
30-59 days past due | 0 | 190 |
60-89 days past due | 0 | 3 |
90 days or more past due | 14 | 0 |
Past due 30 days or more | 14 | 193 |
Total Current or Less Than 30 Days Past Due | 7,352 | 7,834 |
Total Outstanding Loans to Bank Customers | $7,366 | $8,027 |
Loans_to_Bank_Customers_Nonper
Loans to Bank Customers Nonperforming Loans (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Real Estate Loans | ' | ' |
Nonperforming Loans [Line Items] | ' | ' |
Nonperforming loans | $117 | $96 |
Commercial Loans | ' | ' |
Nonperforming Loans [Line Items] | ' | ' |
Nonperforming loans | 106 | 136 |
Installment Loans | ' | ' |
Nonperforming Loans [Line Items] | ' | ' |
Nonperforming loans | 250 | 173 |
Nonperforming Financing Receivable [Member] | ' | ' |
Nonperforming Loans [Line Items] | ' | ' |
Nonperforming loans | $473 | $405 |
Loans_to_Bank_Customers_Credit
Loans to Bank Customers Credit Quality Indicators (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Outstanding Loans [Line Items] | ' | ' |
Loans to Bank Customers, Carrying Amount | $6,902 | $7,552 |
Non-Classified [Member] | ' | ' |
Outstanding Loans [Line Items] | ' | ' |
Loans to Bank Customers, Carrying Amount | 6,384 | 7,223 |
Nonperforming Financing Receivable [Member] | ' | ' |
Outstanding Loans [Line Items] | ' | ' |
Loans to Bank Customers, Carrying Amount | 982 | 804 |
Real Estate Loans | ' | ' |
Outstanding Loans [Line Items] | ' | ' |
Loans to Bank Customers, Carrying Amount | 3,383 | 3,556 |
Real Estate Loans | Non-Classified [Member] | ' | ' |
Outstanding Loans [Line Items] | ' | ' |
Loans to Bank Customers, Carrying Amount | 3,003 | 3,282 |
Real Estate Loans | Nonperforming Financing Receivable [Member] | ' | ' |
Outstanding Loans [Line Items] | ' | ' |
Loans to Bank Customers, Carrying Amount | 380 | 274 |
Commercial Loans | ' | ' |
Outstanding Loans [Line Items] | ' | ' |
Loans to Bank Customers, Carrying Amount | 1,474 | 1,179 |
Commercial Loans | Non-Classified [Member] | ' | ' |
Outstanding Loans [Line Items] | ' | ' |
Loans to Bank Customers, Carrying Amount | 1,323 | 978 |
Commercial Loans | Nonperforming Financing Receivable [Member] | ' | ' |
Outstanding Loans [Line Items] | ' | ' |
Loans to Bank Customers, Carrying Amount | 151 | 201 |
Installment Loans | ' | ' |
Outstanding Loans [Line Items] | ' | ' |
Loans to Bank Customers, Carrying Amount | 2,509 | 3,292 |
Installment Loans | Non-Classified [Member] | ' | ' |
Outstanding Loans [Line Items] | ' | ' |
Loans to Bank Customers, Carrying Amount | 2,058 | 2,963 |
Installment Loans | Nonperforming Financing Receivable [Member] | ' | ' |
Outstanding Loans [Line Items] | ' | ' |
Loans to Bank Customers, Carrying Amount | $451 | $329 |
Loans_to_Bank_Customers_Troubl
Loans to Bank Customers Troubled Debt Restructurings (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Real Estate Loans | ' | ' |
Loan Modifications [Line Items] | ' | ' |
Unpaid principal balance | $194 | $194 |
Carrying value | 117 | 96 |
Commercial Loans | ' | ' |
Loan Modifications [Line Items] | ' | ' |
Unpaid principal balance | 344 | 280 |
Carrying value | 106 | 136 |
Installment Loans | ' | ' |
Loan Modifications [Line Items] | ' | ' |
Unpaid principal balance | 500 | 403 |
Carrying value | $250 | $173 |
Loans_to_Bank_Customers_Allowa
Loans to Bank Customers Allowance for Loan Losses (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Financing Receivable, Allowance for Credit Losses [Line Items] | ' | ' | ' |
Loans and Leases Receivable, Allowance | $464 | $475 | ' |
Allowance for Loan Losses [Roll Forward] | ' | ' | ' |
Allowance for loan losses, beginning of period | 475 | 0 | 0 |
Provision for loans | 0 | 698 | 0 |
Financing Receivable, Allowance for Credit Losses, Write-downs | -25 | -223 | 0 |
Allowance for Loan and Lease Losses, Recoveries of Bad Debts | 14 | 0 | 0 |
Allowance for loan losses, end of period | $464 | $475 | $0 |
Property_Equipment_Property_an
Property & Equipment Property and Equipment (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross | $118,650 | $94,929 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | -58,177 | -36,553 |
Property, Plant and Equipment, Net | 60,473 | 58,376 |
Land [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross | 205 | 205 |
Building [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross | 461 | 543 |
Computer equipment, furniture, and office equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross | 34,508 | 23,690 |
Software [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross | 13,123 | 10,914 |
Software Development [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross | 62,871 | 52,501 |
Leasehold Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property, Plant and Equipment, Gross | $7,482 | $7,076 |
Property_Equipment_Property_an1
Property & Equipment Property and Equipment (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Depreciation and Amortization | $27,099 | $18,131 | $12,330 |
Impairment of capitalized software | 5,216 | 1,029 | 397 |
Capitalized Computer Software, Net | 28,145 | 30,286 | ' |
Software Development [Member] | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' |
Depreciation and Amortization | $14,976 | $9,655 | $6,047 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets Goodwill and Intangible Assets (Narrative)(Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Goodwill [Line Items] | ' | ' | ' |
Goodwill, Acquired During Period | $0 | $16,350,000 | ' |
Intangible Assets, Net (Excluding Goodwill) | 3,426,000 | 3,554,000 | ' |
Amortization of Intangible Assets | 128,000 | 130,000 | 100,000 |
Goodwill | 27,250,000 | 27,250,000 | 10,817,000 |
Goodwill and intangible assets | 30,676,000 | 30,804,000 | ' |
Long Lived Assets Held-for-sale, Impairment Charge | $0 | ' | ' |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets Goodwill Rollforward (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | $27,250 | $27,250 | $10,817 |
Goodwill, Acquired During Period | 0 | 16,350 | ' |
Goodwill, Other Changes | $0 | $83 | ' |
Goodwill_and_Intangible_Assets4
Goodwill and Intangible Assets Intangible Assets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Finite-Lived Intangible Assets, Gross | $926 | $926 |
Finite-Lived Intangible Assets, Accumulated Amortization | 500 | 372 |
Indefinite-Lived Intangible Assets (Excluding Goodwill) | 3,000 | 3,000 |
Intangible Assets, Gross Carrying Value | $3,926 | $3,926 |
Deposits_Summary_of_Deposits_D
Deposits Summary of Deposits (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Summary of Deposits [Line Items] | ' | ' |
Noninterest-bearing GRP Deposits | $204,171 | $165,739 |
Noninterest-bearing Domestic Deposit, Demand | 0 | 16,138 |
Noninterest-bearing Deposit Liabilities | 204,171 | 181,877 |
Deposits, Negotiable Order of Withdrawal (NOW) | 1,401 | 1,860 |
Deposits, Savings Deposits | 6,410 | 5,986 |
Time Deposits, $100,000 or More | 5,310 | 6,417 |
Time Deposits, Less than $100,000 | 2,288 | 2,311 |
Interest-bearing Deposit Liabilities | 15,409 | 16,574 |
Deposits | $219,580 | $198,451 |
Deposits_Contractual_Maturitie
Deposits Contractual Maturities (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Contractual Maturities for Total Time Deposits [Line Items] | ' |
Time Deposit Maturities, Next Twelve Months | $3,551 |
Time Deposit Maturities, Year Two | 2,207 |
Time Deposit Maturities, Year Three | 1,100 |
Time Deposit Maturities, Year Four | 694 |
Time Deposit Maturities, Year Five | 46 |
Time Deposit Maturities, after Year Five | 0 |
Time Deposits | $7,598 |
Shareholders_Equity_Stockholde
Shareholders' Equity Stockholders' Equity (Narrative) (Details) (USD $) | 12 Months Ended | 48 Months Ended | |||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2011 | Apr. 30, 2014 | Dec. 31, 2013 | 2-May-10 | Mar. 03, 2009 | Dec. 31, 2013 | Mar. 03, 2009 | Mar. 03, 2009 | |
Common Class A [Member] | Common Class A [Member] | Common Class B [Member] | Common Class B [Member] | Common Class B [Member] | Nonredeemable Convertible Preferred Stock [Member] | Nonredeemable Convertible Preferred Stock [Member] | Walmart [Member] | Walmart [Member] | Walmart [Member] | Walmart [Member] | Sales Volume or Revenue Based Warrant [Member] | Sales Volume or Revenue Based Warrant [Member] | Additional Warrant [Member] | ||||
Common Class A [Member] | Common Class A [Member] | Common Class A [Member] | Common Class A [Member] | ||||||||||||||
Convertible Series A Preferred Stock, shares authorized | ' | ' | 10,085 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion of Stock, Shares Converted Class B to Series A Preferred | ' | ' | ' | ' | ' | ' | ' | 6,859,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Series A Preferred Stock, Shares Issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,859 | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Redemption Price Per Share | ' | ' | ' | ' | ' | ' | ' | ' | $0.01 | ' | ' | ' | ' | ' | ' | ' | ' |
Series A Conversion, Criteria 2 | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Series A Conversion, Criteria 3 | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Preferred Stock, Shares Issued upon Conversion | ' | ' | ' | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Voting Threshold | ' | ' | ' | 24.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduced Voting Power | ' | ' | ' | 14.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, Issued | ' | ' | ' | 37,729,000 | 31,798,000 | 0 | 4,197,000 | ' | ' | ' | ' | 2,208,552 | 2,208,552 | ' | ' | ' | ' |
Walmart Repurchase Price | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.01 | ' | ' | ' | ' |
Shares, Monthly Vesting, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36,810 | 36,810 | ' | ' | ' | ' |
Walmart Contract Agreement Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '60 months | ' | ' | ' | ' | ' | ' |
Unvested Walmart Shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,426,765 | ' | ' | ' |
Exercise Price per Share, Warrant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $23.70 | ' |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 856,691 |
Warrants and Rights Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' |
Minimum Anticipated Sales Price To Request Form S-3 Registration | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Comprehensive Income (Loss), Available-for-sale Securities, Tax | ($104,000) | $46,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee_StockBased_Compensati2
Employee Stock-Based Compensation Stock-Based Compensation (Narrative) (Details) (USD $) | 12 Months Ended | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | 2-May-10 | |
Common Class A [Member] | Common Class A [Member] | 2001 Stock Plan [Member] | 2001 Stock Plan [Member] | 2001 Stock Plan [Member] | 2010 Equity Incentive Plan [Member] | 2010 Equity Incentive Plan [Member] | 2010 Equity Incentive Plan [Member] | 2010 Employee Stock Purchase Plan [Member] | Walmart [Member] | Walmart [Member] | ||||
Minimum [Member] | Maximum [Member] | Minimum [Member] | Maximum [Member] | Common Class A [Member] | Common Class A [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Total Intrinsic Value | $17,900,000 | $8,500,000 | $4,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Total Fair Value | 4,500,000 | 400,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | ' | ' | ' | '4 years | ' | ' | '4 years | ' | ' | ' | ' | ' |
Share-based Compensation, Award Expiration Period | ' | ' | ' | ' | ' | ' | '5 years | '10 years | ' | '5 years | '10 years | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | ' | 200,000 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Evergreen Percentage | ' | ' | ' | ' | ' | ' | ' | ' | 3.00% | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Stock Options | 19,300,000 | 24,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized, Period for Recognition | '2 years 321 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition, Restricted Stock | '3 years 157 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, Issued | ' | ' | ' | 37,729,000 | 31,798,000 | ' | ' | ' | ' | ' | ' | ' | 2,208,552 | 2,208,552 |
Shares, Monthly Vesting, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36,810 | 36,810 |
Stock-based retailer incentive compensation (Amount) | $8,722,000 | $8,251,000 | $17,337,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee_StockBased_Compensati3
Employee Stock-Based Compensation Stock-based Compensation Expense (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Expense [Abstract] | ' | ' | ' |
Stock-based compensation (Amount) | $14,703 | $12,734 | $9,524 |
Allocated Share-based Compensation Expense | $1,410 | $1,465 | $1,890 |
Employee_StockBased_Compensati4
Employee Stock-Based Compensation Share-based Compensation Equity Granted (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $18.88 | ' | ' |
Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,236 | 2,247 | 889 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $18.88 | $19.35 | $38.70 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $7.20 | $8.92 | $18.62 |
Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $22.16 | $14.14 | $33.46 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 1,272 | 613 | 111 |
Employee_StockBased_Compensati5
Employee Stock-Based Compensation Granted Equity Assumptions (Details) (2010 Equity Incentive Plan [Member]) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
2010 Equity Incentive Plan [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.17% | 0.97% | 2.06% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | '5 years 314 days | '6 years 26 days | '6 years 22 days |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 43.40% | 47.51% | 48.32% |
Employee_StockBased_Compensati6
Employee Stock-Based Compensation Restricted Stock Units Granted Roll (Details) (USD $) | 12 Months Ended | ||
In Millions, except Share data in Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Restricted Stock Units Granted Roll [Abstract] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Total Fair Value | $4.50 | $0.40 | $0 |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 1,454 | 616 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $20.87 | $15.10 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted | 1,272 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $22.16 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Forfeitures and Expirations | -238 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value | $17.54 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised | -196 | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value | $15.22 | ' | ' |
Employee_StockBased_Compensati7
Employee Stock-Based Compensation Stock-based Compensation Option Activity (Details) (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 5,212 | 5,717 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $16.62 | $15.72 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 2,236 | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $18.88 | ' |
Common stock issued under stock plans and related tax effects (Shares) | 1,428 | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $9.67 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period | 1,313 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price | $24.36 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | '6 years 266 days | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $48,290 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 4,956 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $16.48 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | '6 years 223 days | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value | 46,690 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 2,456 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $14.03 | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | '4 years 95 days | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $29,555 | ' |
Income_Taxes_Income_Taxes_Narr
Income Taxes Income Taxes (Narrative) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Operating Loss Carryforwards [Line Items] | ' | ' |
Deferred Tax Assets, Valuation Allowance | $1,228,000 | $1,262,000 |
Domestic Tax Authority [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Operating Loss Carryforwards | 29,700,000 | ' |
State and Local Jurisdiction [Member] | ' | ' |
Operating Loss Carryforwards [Line Items] | ' | ' |
Operating Loss Carryforwards | $28,400,000 | ' |
Income_Taxes_Schedule_of_Incom
Income Taxes Schedule of Income Taxes (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current Federal Tax Expense (Benefit) | $11,880 | $21,322 | $29,583 |
Current State and Local Tax Expense (Benefit) | 1,116 | 1,805 | 2,096 |
Current Income Tax Expense (Benefit) | 12,996 | 23,127 | 31,679 |
Deferred Federal Income Tax Expense (Benefit) | 6,776 | 5,931 | 251 |
Deferred State and Local Income Tax Expense (Benefit) | -1,312 | -139 | 0 |
Deferred income tax expense | 5,464 | 5,792 | 251 |
Income Tax Expense (Benefit), Continuing Operations | $18,460 | $28,919 | $31,930 |
Income_Taxes_Effective_Tax_Rat
Income Taxes Effective Tax Rate Reconciliation (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract] | ' | ' | ' |
Effective Income Tax Rate Reconciliation, Tax Credits, Other | 120000000.00% | ' | ' |
U.S. Federal Statutory Tax Rate | 35.00% | 35.00% | 35.00% |
State Income Taxes, Net of Federal Benefit | -0.20% | 1.90% | 1.60% |
Effective Income Tax Rate Reconciliation, General Business Credits | -2.30% | -0.40% | 0.00% |
Employee Stock-based Compensation | 1.40% | 1.40% | 1.20% |
Effective Income Tax Rate Reconciliation, Other Adjustments | 1.20% | 0.30% | 0.20% |
Effective Income Tax Rate | 35.10% | 38.20% | 38.00% |
Income_Taxes_Schedule_of_Defer
Income Taxes Schedule of Deferred Tax Assets and Liabilities (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred tax liabilities, current | $3,716 | $0 |
Net deferred tax assets, current | 0 | 2,478 |
Net deferred tax assets, noncurrent | 3,362 | 4,629 |
Deferred Tax Assets, Operating Loss Carryforwards | 12,276 | 13,655 |
Deferred Tax Assets, Tax Deferred Expense, Compensation and Benefits, Share-based Compensation Cost | 6,397 | 7,057 |
Deferred Tax Assets, Reserve for Overdrawn Accounts | 4,088 | 6,130 |
Deferred Tax Assets, Tax Deferred Expense, Reserves and Accruals, Accrued Liabilities | 5,354 | 3,191 |
Deferred Tax Assets, Tax Credit Carryforwards | 2,298 | 0 |
Deferred Tax Assets, Other | 984 | 1,272 |
Deferred Tax Assets, Gross | 31,397 | 31,305 |
Deferred Tax Assets, Valuation Allowance | -1,228 | -1,262 |
Deferred Tax Assets, Net of Valuation Allowance | 30,169 | 30,043 |
Deferred Tax Liabilities, Deferred Expense, Capitalized Software | 10,587 | 9,986 |
Deferred Tax Liabilities, Property, Plant and Equipment | 5,534 | 6,013 |
Deferred Tax Liabilities, Deferred Expense | 5,083 | 4,013 |
Deferred Tax Liabilities, Intangible Assets | 1,156 | 1,386 |
deferred tax liability gift card revenue | 6,637 | 1,063 |
Deferred Tax Liabilities, Other | 1,526 | 475 |
Deferred Tax Liabilities, Net | 30,523 | 22,936 |
Deferred Tax Assets, Net | ($354) | $7,107 |
Income_Taxes_Rollforward_of_Un
Income Taxes Rollforward of Unrecognized Tax Benefits (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Income Tax Contingency [Line Items] | ' | ' | ' | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | $338,000 | $0 | ' | ' |
Domestic Tax Authority [Member] | ' | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' | ' |
Unrecognized Tax Benefits | 3,724,000 | 1,481,000 | 0 | 0 |
Increases Related to Positions Taken During Prior Years | 931,000 | 970,000 | 0 | ' |
Increases Related to Positions Taken During the Current Year | 1,312,000 | 511,000 | 0 | ' |
Total Unrecognized Tax Benefits that Would Impact Effective Tax Rate | $3,724,000 | $1,481,000 | $0 | ' |
Earnings_per_Common_Share_Basi
Earnings per Common Share Basic Earnings Per Share (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net Income | $1,036 | ' | ' | ' | $10,370 | ' | ' | ' | $34,040 | $47,219 | $52,083 |
Preferred Stock Dividends and Other Adjustments | ' | ' | ' | ' | ' | ' | ' | ' | 5,360 | 7,599 | 558 |
Common Class B [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Undistributed Earnings, Basic | ' | ' | ' | ' | ' | ' | ' | ' | 2,035 | 5,319 | 21,912 |
Weighted Average Number of Shares Outstanding, Basic | ' | ' | ' | ' | ' | ' | ' | ' | 2,603 | 4,801 | 17,718 |
Basic earnings per common share | $0.02 | $0.14 | $0.26 | $0.36 | $0.24 | $0.23 | $0.26 | $0.39 | $0.78 | $1.11 | $1.24 |
Common Class A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Undistributed Earnings, Basic | ' | ' | ' | ' | ' | ' | ' | ' | 26,003 | 32,901 | 27,503 |
Weighted Average Number of Shares Outstanding, Basic | ' | ' | ' | ' | ' | ' | ' | ' | 33,272 | 29,698 | 22,238 |
Basic earnings per common share | $0.02 | ' | ' | ' | $0.24 | ' | ' | ' | $0.78 | $1.11 | $1.24 |
Common Class A [Member] | Common Class B [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Undistributed Earnings Allocated to Participating Securities | ' | ' | ' | ' | ' | ' | ' | ' | -26,645 | -34,301 | -29,613 |
Common Class B [Member] | Common Class A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Undistributed Earnings Allocated to Participating Securities | ' | ' | ' | ' | ' | ' | ' | ' | ($2,677) | ($6,719) | ($24,022) |
Earnings_per_Common_Share_Dilu
Earnings per Common Share Diluted Earnings Per Share (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Common Class B [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Undistributed Earnings, Basic | ' | ' | ' | ' | ' | ' | ' | ' | $2,035 | $5,319 | $21,912 |
Re-Allocated Earnings | ' | ' | ' | ' | ' | ' | ' | ' | -58 | 1,273 | 1,673 |
Undistributed Earnings, Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 1,977 | 6,592 | 23,585 |
Weighted Average Number of Shares Outstanding, Basic | ' | ' | ' | ' | ' | ' | ' | ' | 2,603 | 4,801 | 17,718 |
Weighted Average Number of Shares Outstanding, Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 2,603 | 6,150 | 19,822 |
Diluted Earnings Per Share | $0.02 | $0.13 | $0.25 | $0.35 | $0.24 | $0.22 | $0.25 | $0.37 | $0.76 | $1.07 | $1.19 |
Common Class A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Undistributed Earnings, Basic | ' | ' | ' | ' | ' | ' | ' | ' | 26,003 | 32,901 | 27,503 |
Re-Allocated Earnings | ' | ' | ' | ' | ' | ' | ' | ' | 2,207 | 5,612 | 22,549 |
Undistributed Earnings, Diluted | ' | ' | ' | ' | ' | ' | ' | ' | $28,210 | $38,513 | $50,052 |
Weighted Average Number of Shares Outstanding, Basic | ' | ' | ' | ' | ' | ' | ' | ' | 33,272 | 29,698 | 22,238 |
Incremental Common Shares Attributable to Conversions of Other Classes of Common Stock | ' | ' | ' | ' | ' | ' | ' | ' | 2,603 | 6,150 | 19,822 |
Weighted Average Number of Shares Outstanding, Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 37,156 | 35,933 | 42,065 |
Diluted Earnings Per Share | $0.02 | ' | $0.25 | ' | $0.24 | ' | $0.25 | ' | $0.76 | $1.07 | $1.19 |
Employee Stock Option [Member] | Common Class B [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incremental Common Shares Attributable to Share-based Payment Arrangements | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 1,349 | 2,104 |
Employee Stock Option [Member] | Common Class A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incremental Common Shares Attributable to Share-based Payment Arrangements | ' | ' | ' | ' | ' | ' | ' | ' | 1,078 | 20 | 0 |
Restricted Stock Units (RSUs) [Member] | Common Class A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incremental Common Shares Attributable to Share-based Payment Arrangements | ' | ' | ' | ' | ' | ' | ' | ' | 203 | 43 | 3 |
Employee Stock [Member] | Common Class A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incremental Common Shares Attributable to Share-based Payment Arrangements | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 22 | 2 |
Earnings_per_Common_Share_Anti
Earnings per Common Share Antidilutive Shares (Details) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Common Class A [Member] | ' | ' | ' |
Antidilutive Shares [Line Items] | ' | ' | ' |
Antidilutive shares | 7,892 | 8,293 | 709 |
Common Class A [Member] | Stock Options [Member] | ' | ' | ' |
Antidilutive Shares [Line Items] | ' | ' | ' |
Antidilutive shares | 994 | 1,408 | 258 |
Common Class A [Member] | Restricted Stock Units (RSUs) [Member] | ' | ' | ' |
Antidilutive Shares [Line Items] | ' | ' | ' |
Antidilutive shares | 39 | 26 | 0 |
Common Class A [Member] | Convertible preferred stock [Member] | ' | ' | ' |
Antidilutive Shares [Line Items] | ' | ' | ' |
Antidilutive shares | 6,859 | 6,859 | 451 |
Common Class B [Member] | ' | ' | ' |
Antidilutive Shares [Line Items] | ' | ' | ' |
Antidilutive shares | 0 | 122 | 5 |
Common Class B [Member] | Stock Options [Member] | ' | ' | ' |
Antidilutive Shares [Line Items] | ' | ' | ' |
Antidilutive shares | 0 | 122 | 5 |
Earnings_per_Common_Share_Othe
Earnings per Common Share Other (Details) | Dec. 31, 2013 | Mar. 03, 2009 | Dec. 31, 2013 |
Walmart [Member] | Walmart [Member] | ||
Common Class A [Member] | Stock Options [Member] | ||
Common Class A [Member] | |||
Diluted earnings per common share [Line Items] | ' | ' | ' |
Unvested Walmart Shares | ' | 3,426,765 | 588,912 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number | 4,283,456 | ' | ' |
Fair_Value_Measurements_Fair_V
Fair Value Measurements Fair Value Hierarchy (Details) (USD $) | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair value [Member] | Fair value [Member] | Corporate Bonds | Corporate Bonds | Corporate Bonds | Corporate Bonds | Corporate Bonds | Corporate Bonds | Corporate Bonds | Corporate Bonds | Commercial Paper | Commercial Paper | Commercial Paper | Commercial Paper | Commercial Paper | Commercial Paper | Commercial Paper | Commercial Paper | Negotiable Certificates of Deposit | Negotiable Certificates of Deposit | Negotiable Certificates of Deposit | Negotiable Certificates of Deposit | Negotiable Certificates of Deposit | Negotiable Certificates of Deposit | Negotiable Certificates of Deposit | Negotiable Certificates of Deposit | US Treasury Notes | US Treasury Notes | US Treasury Notes | US Treasury Notes | US Treasury Notes | US Treasury Notes | US Treasury Notes | US Treasury Notes | Agencies Securities | Agencies Securities | Agencies Securities | Agencies Securities | Agencies Securities | Agencies Securities | Agencies Securities | Agencies Securities | Collateralized Mortgage Backed Securities [Member] | Collateralized Mortgage Backed Securities [Member] | Collateralized Mortgage Backed Securities [Member] | Collateralized Mortgage Backed Securities [Member] | Municipal Bonds | Municipal Bonds | Municipal Bonds | Municipal Bonds | Municipal Bonds | Municipal Bonds | Municipal Bonds | Municipal Bonds | Asset-backed Securities | Asset-backed Securities | Asset-backed Securities | Asset-backed Securities | Asset-backed Securities | Asset-backed Securities | Asset-backed Securities | Asset-backed Securities | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair value [Member] | Fair value [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair value [Member] | Fair value [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair value [Member] | Fair value [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair value [Member] | Fair value [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair value [Member] | Fair value [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair value [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair value [Member] | Fair value [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Inputs, Level 3 [Member] | Fair value [Member] | Fair value [Member] | ||||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value, Equity Level Transfer | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available-for-sale Securities, Fair Value Disclosure | ' | $0 | $0 | $198,744 | $183,787 | $0 | $0 | $198,744 | $183,787 | $0 | $0 | $70,997 | $37,357 | $0 | $0 | $70,997 | $37,357 | $0 | $0 | $49,321 | $55,748 | $0 | $0 | $49,321 | $55,748 | $0 | $0 | $4,403 | $4,414 | $0 | $0 | $4,403 | $4,414 | $0 | $0 | $14,278 | $22,267 | $0 | $0 | $14,278 | $22,267 | $0 | $0 | $14,959 | $25,867 | $0 | $0 | $14,959 | $25,867 | $0 | $4,001 | $0 | $4,001 | $0 | $0 | $19,031 | $11,568 | $0 | $0 | $19,031 | $11,568 | $0 | $0 | $21,754 | $26,566 | $0 | $0 | $21,754 | $26,566 |
Fair_Value_of_Financial_Instru2
Fair Value of Financial Instruments (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value Disclosures [Abstract] | ' | ' |
Loans to Bank Customers, Carrying Amount | $6,902 | $7,552 |
Loans to Bank Customers, Fair Value | 5,926 | 5,719 |
Deposits | 219,580 | 198,451 |
Deposits, Fair Value | $219,534 | $198,369 |
Borrowing_Agreements_Details
Borrowing Agreements (Details) (USD $) | 8 Months Ended | 12 Months Ended | |
Nov. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | |
Borrowing Agreements [Abstract] | ' | ' | ' |
Line of Credit Facility, Amount Outstanding | ' | ' | $0 |
Line of Credit Facility, Maximum Borrowing Capacity | 10,000,000 | 10,000,000 | ' |
Debt Instrument, Description of Variable Rate Basis | 'LIBOR + 2.00% | 'LIBOR + 2.00% | ' |
Line of Credit, Cash Collateral | $10,000,000 | $10,000,000 | ' |
Concentrations_of_Credit_Risk_1
Concentrations of Credit Risk Concentrations of Credit Risk (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Utah [Member] | ' |
Concentration Risk [Line Items] | ' |
Concentration Risk, Percentage | 94.10% |
Provo, Utah [Member] | ' |
Concentration Risk [Line Items] | ' |
Concentration Risk, Percentage | 41.00% |
Defined_Contribution_Plan_Deta
Defined Contribution Plan (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Age | |||
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Minimum Age | 21 | ' | ' |
Defined Contribution Plan, Maximum Annual Contribution Per Employee, Percent | 50.00% | ' | ' |
Defined Contribution Plan, Cost Recognized | $0.10 | $1.20 | $0.90 |
Maximum [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined Contribution Plan, Maximum Annual Contribution Per Employee, Percent | 6.00% | ' | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies Commitments and Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Commitments and Contingencies [Abstract] | ' | ' | ' |
Operating Leases, Rent Expense, Net | $5.30 | $6.40 | $2.60 |
Commitments_and_Contingencies_2
Commitments and Contingencies Purchase Commitments (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Long-term Purchase Commitment [Line Items] | ' |
Operating Leases, Future Minimum Payments Due, Next Twelve Months | $4,187 |
Purchase Obligation, Due in Next Twelve Months | 9,558 |
Capital Leases, Future Minimum Payments Due in Two Years | 4,596 |
Purchase Obligation, Due in Second Year | 1,910 |
Capital Leases, Future Minimum Payments Due in Three Years | 4,726 |
Purchase Obligation, Due in Third Year | 6,550 |
Capital Leases, Future Minimum Payments Due in Four Years | 4,186 |
Purchase Obligation, Due in Fourth Year | 1,625 |
Operating Leases, Future Minimum Payments, Due in Five Years | 4,156 |
Purchase Obligation, Due in Fifth Year | 12,600 |
Capital Leases, Future Minimum Payments Due Thereafter | 17,108 |
Purchase Obligation, Due after Fifth Year | 3,150 |
Operating Leases, Future Minimum Payments Due | 38,959 |
Purchase Obligation | $35,393 |
Significant_Customer_Concentra2
Significant Customer Concentrations Significant Customer Concentrations (Details) (Customer Concentration Risk [Member]) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Total Operating Revenues [Member] | Walmart [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 64.00% | 64.00% | 61.00% |
Total Operating Revenues [Member] | Three Other Largest Retailer Distributors, as a Group [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 22.00% | 20.00% | 20.00% |
Total Operating Revenues, Excluding Stock-Based Retailer Incentive Compensation [Member] | Walmart [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 65.00% | 65.00% | 62.00% |
Total Operating Revenues, Excluding Stock-Based Retailer Incentive Compensation [Member] | Three Other Largest Retailer Distributors, as a Group [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 21.00% | 20.00% | 19.00% |
GPR Cards Activated (in units) [Member] | Four Largest Retailers Distributors [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 82.00% | 87.00% | 80.00% |
Sales of Cash Transfer Products (in units) [Member] | Four Largest Retailers Distributors [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration Risk, Percentage | 87.00% | 88.00% | 90.00% |
Settlement Assets [Member] | Walmart [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration risk, percentage | 34.00% | 35.00% | ' |
Settlement Assets [Member] | Three Other Largest Retailer Distributors, as a Group [Member] | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' |
Concentration risk, percentage | 39.00% | 38.00% | ' |
Significant_Customer_Concentra3
Significant Customer Concentrations Stock-Based Retailer Incentive Compensation (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Significant Customer Concentrations [Abstract] | ' | ' | ' |
Stock-based retailer incentive compensation (Amount) | $8,722 | $8,251 | $17,337 |
Regulatory_Requirements_Detail
Regulatory Requirements (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | ' | ' |
Tier One Leverage Capital | $370,476 | $289,323 |
Tier One Leverage Capital to Average Assets | 45.80% | 47.80% |
Tier One Leverage Capital Required to be Well Capitalized | 40,418 | 30,266 |
Tier One Leverage Capital Required to be Well Capitalized to Average Assets | 5.00% | 5.00% |
Tier One Risk Based Capital | 370,476 | 289,323 |
Tier One Risk Based Capital to Risk Weighted Assets | 100.80% | 84.30% |
Tier One Risk Based Capital Required to be Well Capitalized | 22,057 | 20,591 |
Tier One Risk Based Capital Required to be Well Capitalized to Risk Weighted Assets | 6.00% | 6.00% |
Capital | 370,476 | 289,323 |
Capital to Risk Weighted Assets | 100.80% | 84.30% |
Capital Required to be Well Capitalized | $36,762 | $34,318 |
Capital Required to be Well Capitalized to Risk Weighted Assets | 10.00% | 10.00% |
Selected_Quarterly_Financial_I2
Selected Quarterly Financial Information (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue, Net | $142,320 | $136,544 | $140,608 | $154,149 | $137,302 | $132,759 | $135,043 | $141,181 | ' | ' | ' |
Operating Expenses | 141,856 | 128,570 | 123,253 | 130,810 | 122,812 | 117,882 | 117,908 | 115,543 | 524,489 | 474,145 | 383,949 |
Operating Income (Loss) | 464 | 7,974 | 17,355 | 23,339 | 14,490 | 14,877 | 17,135 | 25,638 | 49,132 | 72,140 | 83,449 |
Interest Income (Expense), Net | 949 | 778 | 839 | 802 | 933 | 962 | 1,168 | 935 | ' | ' | ' |
Income before income taxes | 1,413 | 8,752 | 18,194 | 24,141 | 15,423 | 15,839 | 18,303 | 26,573 | 52,500 | 76,138 | 84,013 |
Income Tax Expense (Benefit) | 377 | ' | ' | ' | 5,053 | ' | ' | ' | 18,460 | 28,919 | 31,930 |
Net Income | 1,036 | ' | ' | ' | 10,370 | ' | ' | ' | 34,040 | 47,219 | 52,083 |
Restatement Adjustment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Income Tax Expense (Benefit) | ' | 2,638 | 6,890 | 8,555 | ' | 6,227 | 7,434 | 10,205 | ' | ' | ' |
Net Income | ' | $6,114 | $11,304 | $15,586 | ' | $9,612 | $10,869 | $16,368 | ' | ' | ' |
Common Class B [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic earnings per common share | $0.02 | $0.14 | $0.26 | $0.36 | $0.24 | $0.23 | $0.26 | $0.39 | $0.78 | $1.11 | $1.24 |
Diluted Earnings Per Share | $0.02 | $0.13 | $0.25 | $0.35 | $0.24 | $0.22 | $0.25 | $0.37 | $0.76 | $1.07 | $1.19 |
Common Class A [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic earnings per common share | $0.02 | ' | ' | ' | $0.24 | ' | ' | ' | $0.78 | $1.11 | $1.24 |
Diluted Earnings Per Share | $0.02 | ' | $0.25 | ' | $0.24 | ' | $0.25 | ' | $0.76 | $1.07 | $1.19 |
Common Class A [Member] | Restatement Adjustment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Condensed Financial Statements, Captions [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic earnings per common share | ' | $0.14 | $0.26 | $0.36 | ' | $0.23 | $0.26 | $0.39 | ' | ' | ' |
Diluted Earnings Per Share | ' | $0.13 | ' | $0.35 | ' | $0.22 | ' | $0.37 | ' | ' | ' |
Subsequent_Events_Subsequent_E
Subsequent Events Subsequent Events (Narrative) (Details) (USD $) | Feb. 11, 2014 |
In Thousands, unless otherwise specified | |
Subsequent Event [Line Items] | ' |
Customer Funds Transfer | $260,000 |
Settled Settlement Liability | 50,000 |
Capital Contribution For Capital Adequacy | $50,000 |