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Green Dot will not explore M&A in near future, CEO says

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Green Dot will not explore M&A in near future, CEO says

Green Dot Corp. executives do not expect to complete any new M&A activity before the fourth quarter of 2018.

On a call to discuss quarterly earnings, founder and CEO Steven Streit said that for the first part of the year, Green Dot plans to focus on the continued integration of UniRush LLC.

"It would feel out of sequence to haul off into another large acquisition in the near term," he said. "There's nothing burning in the pipeline that I'm flipping out about."

The company's 2018 guidance assumes no M&A activity, the executive said. Between large-scale buybacks and two acquisitions in 2017, Streit said the company wants to build up its cash balances and appropriately manage risk.

Executives said Green Dot's primary focus is on the launch of its platform programs and ensuring that it has enough cash to support them.

Streit also said Mark Shifke will remain with the company as CFO. In February 2017, Shifke said he planned to step down when a replacement was found.