This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

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

Stocks in this article: RVR

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)
                           

September 30,

December 31,

September 30,

2012 2011 2011
 
Finance receivables - gross balance $ 145,788 $ 137,277 $ 133,928
 
Delinquencies:
30-59 days $ 1,607 1.1% $ 1,317 1.0% $ 1,225 0.9%
60-89 days 1,357 0.9% 689 0.5% 512 0.4%
90+ days 1,698 1.2% 697 0.5% 442 0.3%
Total delinquencies $ 4,662 3.2% $ 2,703 2.0% $ 2,179 1.6%
 
                   
Coastal Credit LLC
Allowance for Loan Losses - Finance Receivables
(in thousands except percentages)
 

Quarters Ended September 30,

Nine Months Ended September 30,

2012 2011 2012 2011
Balance at beginning of period $ 7,703 $ 7,703 $ 7,703 $ 8,153
Charge-offs (1,932 ) (1,614 ) (5,782 ) (5,051 )
Recoveries 647 686 1,916 1,924
Provision for loan losses   985     928     3,566     2,677  
 
Balance at the end of the period $ 7,403   $ 7,703   $ 7,403   $ 7,703  
 
Finance receivables, net of unearned finance charges $ 144,022 $ 132,070 $ 144,022 $ 132,070
 
Allowance for loan losses as a percent of finance receivables, net of unearned finance charges 5.14 % 5.83 % 5.14 % 5.83 %
 

Annualized net charge-offs as a percent of finance receivables, net of unearned finance charges

3.57 % 2.81 % 3.58 % 3.16 %
 

Allowance for loan losses as a percent of annualized net charge-offs

144.03 % 207.52 % 143.62 % 184.75 %
 

ABOUT WHITE RIVER AND COASTAL CREDIT

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

3 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,828.24 +0.49 0.00%
S&P 500 2,067.56 -5.27 -0.25%
NASDAQ 4,791.63 +4.3130 0.09%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs