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White River Capital, Inc. Announces Results For 2011

CREDIT QUALITY

The following tables set forth delinquency, charge-off and allowance levels for the Coastal Credit portfolio:

Coastal Credit LLC
Delinquency Rates Experienced - Finance Receivables
(in thousands except percentages)
               
December 31,
2011 2010
$ % $ %
 
Finance receivables - gross balance $ 137,277 $ 119,788
 
Delinquencies:
30-59 days $ 1,317 1.0 % $ 1,209 1.0 %
60-89 days 689 0.5 % 538 0.4 %
90+ days   697 0.5 %   354 0.3 %
Total delinquencies $ 2,703 2.0 % $ 2,101 1.8 %
 
Coastal Credit LLC
Allowance for Loan Losses - Finance Receivables
(in thousands except percentages)
           
Years Ended December 31,
2011 2010
Balance at beginning of period $ 8,153 $ 8,085
Charge-offs (6,964 ) (8,488 )
Recoveries 2,526 2,130
Provision for loan losses   3,988     6,426  
 
Balance at the end of the period $ 7,703   $ 8,153  
 
Finance receivables, net of unearned finance charges $ 135,514 $ 117,837
 
Allowance for loan losses as a percent of finance receivables, net of unearned finance charges 5.68 % 6.92 %
 
Net charge-offs as a percent of finance receivables, net of unearned finance charges 3.27 % 5.40 %
 
Allowance for loan losses as a percent of net charge-offs 173.57 % 128.23 %
 
 

ABOUT WHITE RIVER, COASTAL CREDIT AND UAC

Founded in 2004, White River is the holding company for Coastal Credit.

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