White River Capital, Inc. Announces Results For 2011
Mr. Szumski continued, “Shareholders’ equity was $71.7 million or $20.29 per common share, as of December 31, 2011.”
As previously announced, White River paid a quarterly dividend of $0.25 per share on its common stock on November 21, 2011 in addition to a special dividend of $4.00 per share on its common stock on December 22, 2011.
On February 3, 2012, White River announced that its Board of Directors had declared a quarterly cash dividend of 25 cents per share on its common stock to be paid February 24, 2012 to shareholders of record on February 13, 2012.STOCK REPURCHASE PROGRAM White River is authorized to repurchase up to 250,000 shares of its outstanding common stock, from time to time and subject to market conditions, on the open market or in privately negotiated transactions. As of December 31, 2011, White River has repurchased 62,829 shares of its outstanding common stock under the program at an average price per share of $19.40. PROVISION FOR LOAN LOSSES The consolidated provision for loan losses was $1.3 million for both of the quarters ended December 31, 2011 and 2010. The following table documents the quarterly provision, allowance for loan losses and net charge offs at Coastal Credit for the fourth quarter 2009 through the fourth quarter 2011:
Provision (in millions)
Allowance for Loan Losses as a Percent of Finance Receivables
Annualized Net Charge-offs as a Percent of Finance Receivables
|4 th 2011||$1.3||5.68%||3.87%|
|3 rd 2011||$0.9||5.83%||2.81%|
|2 nd 2011||$0.7||6.07%||2.99%|
|1 st 2011||$1.1||6.59%||4.14%|
|4 th 2010||$1.3||6.92%||5.40%|
|3 rd 2010||$1.6||7.19%||5.21%|
|2 nd 2010||$1.6||7.33%||5.54%|
|1 st 2010||$1.9||7.42%||6.27%|
|4 th 2009||$2.3||7.44%||7.40%|
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