Vision for a New Financial Powerhouse
Smith Ventures: A “Pivotal Step”
Smith Ventures CEO Bill Smith called the acquisition a defining moment.
“This is a pivotal step for Green Dot and CommerceOne,” Smith said. “By combining Green Dot’s payments expertise with CommerceOne’s financial strength, we’re creating sustainable value and positioning ourselves to deliver exceptional experiences for customers, partners, and employees.”
CommerceOne: Becoming the Exclusive Issuing Bank
CommerceOne—parent of CommerceOne Bank, founded in 2022—will absorb Green Dot’s bank operations and emerge as a new publicly traded bank holding company. It will also become Green Dot’s exclusive issuing bank, a move CEO Kenneth Till said supports CommerceOne’s vision of trust, growth, and top-tier client service.
“This acquisition is an ideal complement to our mission,” Till said, noting the expanded talent and broad future opportunities embedded in Green Dot’s fintech operations.
Shareholders to Control Newly Formed Bank
When the transactions close, former Green Dot shareholders will own approximately 72% of the restructured bank holding company, while CommerceOne shareholders will hold the remaining 28%.
Green Dot Interim CEO and Board Chair William Jacobs said the merger marks an important milestone:
“These transactions allow us to unlock the full potential of our fintech business while strengthening and growing the bank. This is a tremendous opportunity for our shareholders, customers, and employees.”
The deals are expected to close in the second quarter of 2026.
