As part of the acquisition, the bank will continue to provide its customers with products and services under the name of Bonneville Bank, but its official name will change to Green Dot Bank.
Green Dot will contribute with almost USD 14 million in cash to provide an initial capital base for the bank’s expanded operations. In addition, Lewis Goodwin has been appointed as CEO of Green Dot Bank. Goodwin has been working in the banking industry for 25 years and has previously worked for Daimler Chrysler.
Green Dot provides money management services to the US consumers. The company also owns and operates the Green Dot Network, the prepaid card reload network. Green Dot products are available online and at more than 55,000 retail stores, including Walmart, Walgreens, CVS, Rite Aid, 7-Eleven, Kroger, Kmart, Meijer, and Radio Shack.
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