White River Capital, Inc. Announces Results For Third Quarter 2012
As previously announced, White River paid a quarterly dividend of 25 cents per share on its common stock on August 22, 2012.
STOCK REPURCHASE PROGRAM
Under a stock repurchase program announced on August 11, 2011, 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 September 30, 2012, White River has repurchased 62,829 shares of its outstanding common stock under this program at an average price per share of $19.40.PROVISION FOR LOAN LOSSES The consolidated provision for loan losses was $1.0 million compared to $0.9 million for the quarters ended September 30, 2012 and 2011, respectively. The following table documents the quarterly provision, allowance for loan losses and net charge offs at Coastal Credit for the third quarter 2010 through the third quarter 2012:
|Quarter||Provision(in millions)||Allowance for LoanLosses as a Percent ofFinance Receivables||Annualized Net Charge-offsas a Percent ofFinance Receivables|
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