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.