{"id":15666,"date":"2011-11-24T07:13:00","date_gmt":"2011-11-24T07:13:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/green-dots-application-to-acquire-bonneville-bancorp-approved-by-federal-reserve-board-gdot\/15666\/"},"modified":"2011-11-24T07:13:00","modified_gmt":"2011-11-24T07:13:00","slug":"green-dots-application-to-acquire-bonneville-bancorp-approved-by-federal-reserve-board-gdot","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/green-dots-application-to-acquire-bonneville-bancorp-approved-by-federal-reserve-board-gdot\/15666\/","title":{"rendered":"Green Dot\u2019s Application to Acquire Bonneville Bancorp Approved by Federal Reserve Board (GDOT)"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><br \/>\n<!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><br \/>\n<!--\/mfunc--><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-thumbnail wp-image-15667\" title=\"Green Dot\" src=\"https:\/\/storage.googleapis.com\/smw-news-wp\/2011\/11\/Green-Dot-150x150.jpg\" alt=\"\" width=\"150\" height=\"150\">Shares of Green Dot Corporation (<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=gdot\">NYSE: GDOT<\/a>), a prepaid financial services company offering money management solutions to a range of U.S. consumers, rose sharply on Wednesday after the company announced that Federal Reserve Board approved its application to acquire Bonneville Bancorp.<\/p>\n<p><span id=\"more-15666\"><\/span><\/p>\n<p>Green Dot said that with the approval of its application to acquire Bonneville Bancorp, it has now become a bank holding company under the Bank Holding Company Act of 1956. The acquisition has also been approved by the Utah Department of Financial Institutions. The company expects to close the transaction soon after the expiration of the statutory 15-day waiting period following the Federal Reserve Board\u2019s approval.<\/p>\n<p><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p>Steve Streit, CEO of Green Dot, said that the company is very appreciative of the regulators for the time they spent reviewing the application and understanding the company\u2019s purpose in acquiring Bonneville Bank. Streit said that the company is also grateful for the guidance and advice it often relied upon from its attorneys and advisors, including Promontory McDonough PC.<\/p>\n<p>Streit believes that the acquisition will give Green Dot the flexibility to better control its own destiny as it will allow the company to create products that best suit the needs of its current and future customers. The acquisition also enables the company to become a bank truly dedicated to serving the needs of the large and growing population of consumers who are looking for a better way to bank, Streit added.<\/p>\n<p>Green Dot shares rose to an intra-day high of $30.10 on Wednesday before finishing the day 7.67% higher at $29.62 on above average volume of 540,105. Green Dot shares are down more than 47% this year. This compares with a decline of 7.62% for the <a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&amp;P 500<\/a> this year.<\/p>\n<p>&nbsp;<\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-prices-slip-as-dollar-strengthens\/15727\"><br \/>\nGold Prices Slip as Dollar Strengthens<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-end-lower-on-persistent-euro-zone-worries\/15725\"><br \/>\nStocks End Lower on Persistent Euro Zone Worries<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/jp-morgan-chase-purchases-lme-stake-from-mf-global\/15720\"><br \/>\nJP Morgan Chase Purchases LME Stake from MF Global<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/netflix-avoids-class-action-lawsuit-in-wal-mart-case\/15719\"><br \/>\nNetflix Avoids Class Action Lawsuit In Wal-Mart Case<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gap-eyeing-chinese-markets-for-international-growth\/15718\"><br \/>\nGAP Eyeing Chinese Markets For International Growth<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/german-merck-demands-back-facebook-page\/15717\"><br \/>\nGerman Merck Demands Back Facebook Page<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-shed-early-gains-headed-for-a-mixed-finish\/15711\"><br \/>\nStocks Shed Early Gains; Headed for a Mixed Finish<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2024\/08\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Shares of Green Dot Corporation (NYSE: GDOT), a prepaid financial services company offering money management solutions to a range of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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