Orrick Advises Green Dot on Acquisition of Republic Bank's Tax Refund Solutions Business

May.19.2021

We advised Green Dot Corporation, a financial technology and registered bank holding company, on its definitive agreement with Republic Bank & Trust Company to purchase the assets and operations of Republic Bank's Tax Refund Solutions (TRS) business segment.

As part of the agreement, Green Dot will pay Republic Bank approximately $165 million in cash for TRS, and Republic Bank will provide transition services to Green Dot for TRS during the 2022 calendar year. The transaction is subject to customary closing conditions and is anticipated to be completed in the fourth quarter of 2021.

The Orrick team advising Green Dot on this transaction is led by Jeannie Shin and includes Bill Hughes, Thomas Joraanstad, Nicole Huang, Sean Carfi, Fallon Griffin, James Tierney, Amy Ray, Jesse Beringer, Jennifer Clarke-Smith, Haley Tynes, Eric Wall, Kimberly Loocke, Daniel Yost, Allen Babajanian, Barrie VanBrackle, Parag Patel, Joseph Urwitz, Keith Tidwell, Shannon Yavorsky, Matthew Coleman and Betsy Wang Lee.