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White River Capital, Inc. Announces Results For Second Quarter 2012

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)
           
June 30, December 31, June 30,
2012 2011 2011
 
Finance receivables - gross balance $ 144,902 $ 137,277 $ 128,819
 
Delinquencies:
30-59 days $ 1,527 1.1 % $ 1,317 1.0 % $ 999 0.8 %
60-89 days 891 0.6 % 689 0.5 % 292 0.2 %
90+ days   860 0.6 %   697 0.5 %   262 0.2 %
Total delinquencies $ 3,278 2.3 % $ 2,703 2.0 % $ 1,553 1.2 %
 
Coastal Credit LLC
Allowance for Loan Losses - Finance Receivables
(in thousands except percentages)
       
Quarters Ended

June 30,

Six Months Ended

June 30,

2012 2011 2012 2011
Balance at beginning of period $ 7,703 $ 7,953 $ 7,703 $ 8,153
Charge-offs (1,931 ) (1,608 ) (3,851 ) (3,437 )
Recoveries 639 659 1,270 1,238
Provision for loan losses   1,292     699     2,581     1,749  
 
Balance at the end of the period $ 7,703   $ 7,703   $ 7,703   $ 7,703  
 
Finance receivables, net of unearned finance charges $ 143,123 $ 126,839 $ 143,123 $ 126,839
 
Allowance for loan losses as a percent of finance receivables, net of unearned finance charges 5.38 % 6.07 % 5.38 % 6.07 %
 
Annualized net charge-offs as a percent of finance receivables, net of unearned finance charges 3.61 % 2.99 % 3.61 % 3.47 %
 
Allowance for loan losses as a percent of annualized net charge-offs 149.05 % 202.92 % 149.23 % 175.15 %
 

ABOUT WHITE RIVER AND COASTAL CREDIT

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

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