| Indiana                                                        | 35-1908796                           |
|----------------------------------------------------------------|--------------------------------------|
| (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) |

| Large Accelerated Filer o                                                  | Accelerated Filer o         |
|----------------------------------------------------------------------------|-----------------------------|
|                                                                       |                        |
| Non-Accelerated Filer o(Do not check if a smaller reporting company)  | Smaller Reporting Company x |

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|     |                                                                                                               | PAGE   |
|----------|--------------------------------------------------------------------------------------------------------------------|--------|
| PART I.  | FINANCIAL INFORMATION                                                                                              |   |
|     |                                                                                                               |   |
| Item 1.  | Financial Statements                                                                                               |   |
|     |                                                                                                               |   |
|     | Condensed Consolidated Balance Sheets as of March 31, 2011 (Unaudited) and December 31, 2010                       | 1      |
|     |                                                                                                               |   |
|     | Unaudited Condensed Consolidated Statements of Operations for the Quarters Ended March 31, 2011 and 2010           | 2      |
|     |                                                                                                               |   |
|     | Unaudited Condensed Consolidated Statements of Comprehensive Income for the Quarters Ended March 31, 2011 and 2010 | 3      |
|     |                                                                                                               |   |
|     | Unaudited Condensed Consolidated Statements of Cash Flows for the Quarters Ended March 31, 2011 and 2010           | 4      |
|     |                                                                                                               |   |
|     | Notes to Unaudited Condensed Consolidated Financial Statements                                                     | 5      |
|     |                                                                                                               |   |
| Item 2.  | Management’s Discussion and Analysis of Financial Condition and Results of Operations                        | 14     |
|     |                                                                                                               |   |
| Item 4.  | Controls and Procedures                                                                                            | 22     |
|     |                                                                                                               |   |
| PART II. | OTHER INFORMATION                                                                                                  |   |
|     |                                                                                                               |   |
| Item 2.  | Unregistered Sales of Equity Securities and Use of Proceeds                                                        | 23     |
|     |                                                                                                               |   |
| Item 5.  | Other Information                                                                                                  | 23     |
|     |                                                                                                               |   |
| Item 6.  | Exhibits                                                                                                           | 24     |
|     |                                                                                                               |   |
|     | SIGNATURES                                                                                                         | 25     |
|     |                                                                                                               |   |
|     | EXHIBIT INDEX                                                                                                      | 26     |

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|                                                                                                                                                                |   | March 31, 2011 |    |   | December 31, 2010 |   |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|----------------|---------|--------|-------------------|--------|
| ASSETS                                                                                                                                                              |   | (Unaudited)    |    |   |              |   |
|                                                                                                                                                                |   |           |    |   |              |   |
| Cash and cash equivalents                                                                                                                                           |   | $              | 2,392   |   |              | $      | 3,287 |   |
| Finance receivables—net                                                                                                                                       |   |           | 99,560  |   |              |   | 96,723 |   |
| Deferred tax assets—net                                                                                                                                       |   |           | 39,939  |   |              |   | 40,914 |   |
| Other assets                                                                                                                                                        |   |           | 702     |   |              |   | 684 |   |
|                                                                                                                                                                |   |           |    |   |              |   |   |   |
| TOTAL                                                                                                                                                               |   | $              | 142,593 |   |              | $      | 141,608 |   |
|                                                                                                                                                                |   |           |    |   |              |   |   |   |
|                                                                                                                                                                |   |           |    |   |              |   |   |   |
| LIABILITIES AND SHAREHOLDERS’ EQUITY                                                                                                                          |   |           |    |   |              |   |   |   |
|                                                                                                                                                                |   |           |    |   |              |   |   |   |
| LIABILITIES:                                                                                                                                                        |   |           |    |   |              |   |   |   |
| Line of credit                                                                                                                                                      |   | $              | 58,000  |   |              | $      | 56,000 |   |
| Accrued interest                                                                                                                                                    |   |           | 149     |   |              |   | 130 |   |
| Other payables and accrued expenses                                                                                                                                 |   |           | 1,976   |   |              |   | 2,449 |   |
|                                                                                                                                                                |   |           |    |   |              |   |   |   |
| Total liabilities                                                                                                                                                   |   |           | 60,125  |   |              |   | 58,579 |   |
|                                                                                                                                                                |   |           |    |   |              |   |   |   |
| COMMITMENTS AND CONTINGENCIES                                                                                                                                       |   |           |    |   |              |   |   |   |
|                                                                                                                                                                |   |           |    |   |              |   |   |   |
| SHAREHOLDERS’ EQUITY:                                                                                                                                         |   |           |    |   |              |   |   |   |
| Preferred Stock, without par value, authorized 3,000,000 shares; none issued and outstanding                                                                        |   |           | -       |   |              |   | - |   |
| Common Stock, without par value, authorized 20,000,000 shares; 3,612,880 and 3,706,759 issued and outstanding at March 31, 2011 and December 31, 2010, respectively |   |           | 175,673 |   |              |   | 177,403 |   |
| Accumulated deficit                                                                                                                                                 |   |           | (93,205 | )      |              |   | (94,374 | ) |
|                                                                                                                                                                |   |           |    |   |              |   |   |   |
| Total shareholders’ equity                                                                                                                                    |   |           | 82,468  |   |              |   | 83,029 |   |
|                                                                                                                                                                |   |           |    |   |              |   |   |   |
| TOTAL                                                                                                                                                               |   | $              | 142,593 |   |              | $      | 141,608 |   |

----

|                                                         |   | Quarters Ended March 31, |      |
|--------------------------------------------------------------|--------|--------------------------|-----------|
|                                                         |   | 2011                     |      |   | 2010 |   |
| INTEREST:                                                    |   |                     |      |   |   |   |
| Interest on receivables                                      |   | $                        | 8,370     |   |   | $ | 7,856 |   |
| Accretion and other interest                                 |   |                     | -         |   |   |   | 9 |   |
|                                                         |   |                     |      |   |   |   |   |   |
| Total interest income                                        |   |                     | 8,370     |   |   |   | 7,865 |   |
|                                                         |   |                     |      |   |   |   |   |   |
| Interest expense                                             |   |                     | (468      | ) |   |   | (348 | ) |
|                                                         |   |                     |      |   |   |   |   |   |
| Net interest margin                                          |   |                     | 7,902     |   |   |   | 7,517 |   |
|                                                         |   |                     |      |   |   |   |   |   |
| Provision for loan losses                                    |   |                     | (1,056    | ) |   |   | (1,852 | ) |
|                                                         |   |                     |      |   |   |   |   |   |
| Net interest margin after provision for loan losses          |   |                     | 6,846     |   |   |   | 5,665 |   |
|                                                         |   |                     |      |   |   |   |   |   |
| OTHER REVENUES (EXPENSES):                                   |   |                     |      |   |   |   |   |   |
| Salaries and benefits                                        |   |                     | (2,446    | ) |   |   | (2,255 | ) |
| Other operating expenses                                     |   |                     | (1,123    | ) |   |   | (1,369 | ) |
| Change in fair market valuation of creditor notes payable    |   |                     | 43        |   |   |   | 46 |   |
| Gain from deficiency account sale                            |   |                     | -         |   |   |   | 1 |   |
| Other expense                                                |   |                     | (85       | ) |   |   | (33 | ) |
|                                                         |   |                     |      |   |   |   |   |   |
| Total other expenses                                         |   |                     | (3,611    | ) |   |   | (3,610 | ) |
|                                                         |   |                     |      |   |   |   |   |   |
| INCOME BEFORE INCOME TAXES                                   |   |                     | 3,235     |   |   |   | 2,055 |   |
|                                                         |   |                     |      |   |   |   |   |   |
| INCOME TAX EXPENSE                                           |   |                     | (1,140    | ) |   |   | (708 | ) |
|                                                         |   |                     |      |   |   |   |   |   |
| NET INCOME                                                   |   | $                        | 2,095     |   |   | $ | 1,347 |   |
|                                                         |   |                     |      |   |   |   |   |   |
| NET INCOME PER COMMON SHARE (BASIC)                          |   | $                        | 0.57      |   |   | $ | 0.34 |   |
|                                                         |   |                     |      |   |   |   |   |   |
| NET INCOME PER COMMON SHARE (DILUTED)                        |   | $                        | 0.57      |   |   | $ | 0.34 |   |
|                                                         |   |                     |      |   |   |   |   |   |
| BASIC WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING   |   |                     | 3,689,450 |   |   |   | 3,974,897 |   |
|                                                         |   |                     |      |   |   |   |   |   |
| DILUTED WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING |   |                     | 3,695,570 |   |   |   | 3,976,198 |   |

----

|                                                                                           |   | Quarters Ended March 31, |   |
|------------------------------------------------------------------------------------------------|--------|--------------------------|--------|
|                                                                                           |   | 2011                     |   |   | 2010 |   |
|                                                                                           |   |                     |   |   |   |   |
| NET INCOME                                                                                     |   | $                        | 2,095  |   |   | $ | 1,347 |   |
|                                                                                           |   |                     |   |   |   |   |   |   |
| OTHER COMPREHENSIVE INCOME:                                                                    |   |                     |   |   |   |   |   |   |
| Net unrealized change on recombined assets and Beneficial Interest in Master Trust, net of tax |   |                     | -      |   |   |   | (4 | ) |
|                                                                                           |   |                     |   |   |   |   |   |   |
| COMPREHENSIVE INCOME                                                                           |   | $                        | 2,095  |   |   | $ | 1,343 |   |

----

|                                                                              |   | Quarters Ended March 31, |    |
|-----------------------------------------------------------------------------------|--------|--------------------------|---------|
|                                                                              |   | 2011                     |    |   | 2010 |   |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                             |   |                     |    |   |   |   |
| Net income                                                                        |   | $                        | 2,095   |   |   | $ | 1,347 |   |
| Adjustments to reconcile net income to net cash provided by operating activities: |   |                     |    |   |   |   |   |   |
| Accretion of other comprehensive income                                           |   |                     | -       |   |   |   | (4 | ) |
| Accretion of securitization discount                                              |   |                     | -       |   |   |   | (1 | ) |
| Provision for loan losses                                                         |   |                     | 1,056   |   |   |   | 1,852 |   |
| Amortization and depreciation                                                     |   |                     | 83      |   |   |   | 104 |   |
| Amortization of discount and interest accrued on creditor notes payable           |   |                     | 43      |   |   |   | 43 |   |
| Gain from disposition of equipment                                                |   |                     | -       |   |   |   | 3 |   |
| Deferred income taxes                                                             |   |                     | 975     |   |   |   | 631 |   |
| Change in fair value of creditor notes payable                                    |   |                     | (43     | ) |   |   | (46 | ) |
| Stock based compensation expense                                                  |   |                     | 129     |   |   |   | 299 |   |
| Changes in assets and liabilities:                                                |   |                     |    |   |   |   |   |   |
| Accrued interest receivable and other assets                                      |   |                     | (74     | ) |   |   | (81 | ) |
| Other payables and accrued expenses                                               |   |                     | (454    | ) |   |   | (267 | ) |
| Net cash provided by operating activities                                         |   |                     | 3,810   |   |   |   | 3,880 |   |
|                                                                              |   |                     |    |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                             |   |                     |    |   |   |   |   |   |
| Purchase of finance receivables                                                   |   |                     | (19,065 | ) |   |   | (16,904 | ) |
| Collections on finance receivables                                                |   |                     | 15,178  |   |   |   | 13,292 |   |
| Principal collections and recoveries on receivables held for investment           |   |                     | (6      | ) |   |   | 80 |   |
| Capital expenditures                                                              |   |                     | (27     | ) |   |   | (6 | ) |
| Net cash used in investing activities                                             |   |                     | (3,920  | ) |   |   | (3,538 | ) |
|                                                                              |   |                     |    |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES:                                             |   |                     |    |   |   |   |   |   |
| Common stock repurchased                                                          |   |                     | (1,859  | ) |   |   | (1,237 | ) |
| Common stock cash dividend                                                        |   |                     | (926    | ) |   |   | (996 | ) |
| Net borrowing on line of credit                                                   |   |                     | 2,000   |   |   |   | - |   |
| Net cash used in financing activities                                             |   |                     | (785    | ) |   |   | (2,233 | ) |
|                                                                              |   |                     |    |   |   |   |   |   |
| DECREASE IN CASH AND CASH EQUIVALENTS                                             |   |                     | (895    | ) |   |   | (1,891 | ) |
| CASH AND CASH EQUIVALENTS—Beginning of year                                 |   |                     | 3,287   |   |   |   | 6,797 |   |
| CASH AND CASH EQUIVALENTS—End of period                                     |   | $                        | 2,392   |   |   | $ | 4,906 |   |
|                                                                              |   |                     |    |   |   |   |   |   |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:                                |   |                     |    |   |   |   |   |   |
| Income tax paid                                                                   |   | $                        | 11      |   |   | $ | - |   |
| Interest paid                                                                     |   | $                        | 407     |   |   | $ | 308 |   |

----

| 1.  BASIS OF PRESENTATION |
|-------------------------------------|

| 2.  GENERAL DISCUSSION |
|----------------------------------|

----

| 3.  FINANCE RECEIVABLES - NET |
|-----------------------------------------|

| ·   | the applicant’s length of residence; |
|--------------------|--------------------------------------------|

| ·   | the applicant’s current and prior job status; |
|--------------------|-----------------------------------------------------|

| ·   | the applicant’s history in making other installment loan payments; |
|--------------------|--------------------------------------------------------------------------|

| ·   | the applicant’s payment record on previous automobile loans; |
|--------------------|--------------------------------------------------------------------|

| ·   | the applicant’s current income and discretionary spending ability; |
|--------------------|--------------------------------------------------------------------------|

| ·   | the applicant’s credit history; |
|--------------------|---------------------------------------|

| ·   | the value of the automobile in relation to the purchase price; |
|--------------------|----------------------------------------------------------------|

| ·   | the term of the contract; |
|--------------------|---------------------------|

| ·   | the automobile make and mileage; and |
|--------------------|--------------------------------------|

| ·   | Coastal Credit’s prior experience with contracts acquired from the dealer. |
|--------------------|----------------------------------------------------------------------------------|

----

----

|                                                                              |   | March 31, |    |   | December 31, |   |
|-----------------------------------------------------------------------------------|--------|-----------|---------|--------|--------------|--------|
|                                                                              |   | 2011      |    |   | 2010         |   |
|                                                                              |   |      |    |   |         |   |   |   |
| Finance receivables, gross                                                        |   | $         | 122,649 |   |         | $      | 119,788 |   |
| Unearned finance charge income                                                    |   |      | (2,014  | )      |         |   | (1,951 | ) |
| Finance receivables, net of unearned finance charge income                        |   |      | 120,635 |   |         |   | 117,837 |   |
|                                                                              |   |      |    |   |         |   |   |   |
| Accretable unearned acquisition discounts and fees                                |   |      | (13,122 | )      |         |   | (12,961 | ) |
| Finance receivables, net of unearned finance charge income and discounts and fees |   |      | 107,513 |   |         |   | 104,876 |   |
|                                                                              |   |      |    |   |         |   |   |   |
| Allowance for loan losses                                                         |   |      | (7,953  | )      |         |   | (8,153 | ) |
|                                                                              |   |      |    |   |         |   |   |   |
| Finance receivables - net                                                         |   | $         | 99,560  |   |         | $      | 96,723 |   |

|                                                                                            |   | Quarters Ended March 31, |    |
|-------------------------------------------------------------------------------------------------|--------|--------------------------|---------|
|                                                                                            |   | 2011                     |    |   | 2010 |   |
|                                                                                            |   |                     |    |   |   |   |   |   |
| Balance at beginning of period                                                                  |   | $                        | 8,153   |   |   | $ | 8,085 |   |
| Charge-offs                                                                                     |   |                     | (1,829  | ) |   |   | (2,272 | ) |
| Recoveries                                                                                      |   |                     | 579     |   |   |   | 531 |   |
| Provision for loan losses                                                                       |   |                     | 1,050   |   |   |   | 1,891 |   |
|                                                                                            |   |                     |    |   |   |   |   |   |
| Balance at the end of the period                                                                |   | $                        | 7,953   |   |   | $ | 8,235 |   |
|                                                                                            |   |                     |    |   |   |   |   |   |
| Finance receivables, net of unearned finance charges                                            |   | $                        | 120,635 |   |   | $ | 111,023 |   |
|                                                                                            |   |                     |    |   |   |   |   |   |
| Allowance for loan losses as a percent of finance receivables, net of unearned finance charges  |   |                     | 6.59    | % |   |   | 7.42 | % |
|                                                                                            |   |                     |    |   |   |   |   |   |
| Annualized net charge-offs as a percent of finance receivables, net of unearned finance charges |   |                     | 4.14    | % |   |   | 6.27 | % |
|                                                                                            |   |                     |    |   |   |   |   |   |
| Allowance for loan losses as a percent of annualized net charge-offs                            |   |                     | 159.06  | % |   |   | 118.25 | % |

----

|                                |   | March 31, |    |   | December 31, |   |
|-------------------------------------|--------|-----------|---------|--------|--------------|--------|
|                                |   | 2011      |    |   | 2010         |   |
|                                |   | $         |    |   | %            |   |   | $ |   |   | % |   |
|                                |   |      |    |   |         |   |   |   |   |   |   |   |
| Finance receivables - gross balance |   | $         | 122,649 |   |         |   |   |   | $ | 119,788 |   |   |   |   |
|                                |   |      |    |   |         |   |   |   |   |   |   |   |   |   |
| Delinquencies:                      |   |      |    |   |         |   |   |   |   |   |   |   |   |   |
| 30-59 days                          |   | $         | 900     |   |         |   | 0.7 | % |   | $ | 1,209 |   |   |   | 1.0 | % |
| 60-89 days                          |   |      | 370     |   |         |   | 0.3 | % |   |   | 538 |   |   |   | 0.4 | % |
| 90+ days                            |   |      | 362     |   |         |   | 0.3 | % |   |   | 354 |   |   |   | 0.3 | % |
| Total delinquencies                 |   | $         | 1,632   |   |         |   | 1.3 | % |   | $ | 2,101 |   |   |   | 1.7 | % |

| 4.  OTHER ASSETS |
|----------------------------|

|                                                |   | March 31, |   |   | December 31, |   |
|-----------------------------------------------------|--------|-----------|--------|--------|--------------|--------|
|                                                |   | 2011      |   |   | 2010         |   |
|                                                |   |      |   |   |         |   |   |   |
| Prepaid expenses                                    |   | $         | 359    |   |         | $      | 337 |   |
| Property, equipment and leasehold improvements, net |   |      | 331    |   |         |   | 335 |   |
| Other                                               |   |      | 12     |   |         |   | 12 |   |
| Total other assets                                  |   | $         | 702    |   |         | $      | 684 |   |

| 5.  INCOME TAXES |
|----------------------------|

| 6.  STOCK-BASED COMPENSATION |
|----------------------------------------|

----

|                       |   | Quarters Ended March 31, |   |
|----------------------------|--------|--------------------------|--------|
|                       |   | 2011                     |   |   | 2010 |   |
| Restricted Stock Awards    |   | Shares                   |   |   | Weighted Average Grant Date Fair Value |   |   | Shares |   |   | Weighted Average Grant Date Fair Value |   |
|                       |   |                     |   |   |   |   |   |   |   |   |   |   |
|                       |   |                     |   |   |   |   |   |   |   |   |   |   |
| Beginning nonvested awards |   |                     | 2,000  |   |   | $ | 6.45 |   |   |   | 4,400 |   |   | $ | 7.96 |   |
| Granted                    |   |                     | 10,000 |   |   |   | 17.25 |   |   |   | - |   |   |   | - |   |
| Vested                     |   |                     | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Forfeited                  |   |                     | -      |   |   |   | - |   |   |   | - |   |   |   | - |   |
| Ending nonvested awards    |   |                     | 12,000 |   |   | $ | 15.45 |   |   |   | 4,400 |   |   | $ | 7.96 |   |

----

| 7.  BUSINESS SEGMENT INFORMATION |
|--------------------------------------------|

| For The Quarter Ended March 31, 2011                          |   | Coastal Credit |   |   | Corporate and Other |   |   | Consolidated |   |
|---------------------------------------------------------------|--------|----------------|--------|--------|---------------------|--------|--------|--------------|--------|
|                                                          |   |           |   |   |                |   |   |         |   |
| Total interest income                                         |   | $              | 8,370  |   |                | $      | -      |         |   | $ | 8,370 |   |
|                                                          |   |           |   |   |                |   |   |         |   |   |   |   |
| Interest expense                                              |   |           | (425   | )      |                |   | (43    | )            |   |   | (468 | ) |
|                                                          |   |           |   |   |                |   |   |         |   |   |   |   |
| Net interest margin (deficit)                                 |   |           | 7,945  |   |                |   | (43    | )            |   |   | 7,902 |   |
|                                                          |   |           |   |   |                |   |   |         |   |   |   |   |
| Provision for loan losses                                     |   |           | (1,050 | )      |                |   | (6     | )            |   |   | (1,056 | ) |
|                                                          |   |           |   |   |                |   |   |         |   |   |   |   |
| Net interest margin (deficit) after provision for loan losses |   |           | 6,895  |   |                |   | (49    | )            |   |   | 6,846 |   |
|                                                          |   |           |   |   |                |   |   |         |   |   |   |   |
| Total other expenses                                          |   |           | (3,100 | )      |                |   | (511   | )            |   |   | (3,611 | ) |
|                                                          |   |           |   |   |                |   |   |         |   |   |   |   |
| Income (loss) before income taxes                             |   | $              | 3,795  |   |                | $      | (560   | )            |   | $ | 3,235 |   |

| For The Quarter Ended March 31, 2010                |   | Coastal Credit |   |   | Corporate and Other |   |   | Consolidated |   |
|-----------------------------------------------------|--------|----------------|--------|--------|---------------------|--------|--------|--------------|--------|
|                                                |   |           |   |   |                |   |   |         |   |
| Total interest income                               |   | $              | 7,854  |   |                | $      | 11     |         |   | $ | 7,865 |   |
|                                                |   |           |   |   |                |   |   |         |   |   |   |   |
| Interest expense                                    |   |           | (305   | )      |                |   | (43    | )            |   |   | (348 | ) |
|                                                |   |           |   |   |                |   |   |         |   |   |   |   |
| Net interest margin (deficit)                       |   |           | 7,549  |   |                |   | (32    | )            |   |   | 7,517 |   |
|                                                |   |           |   |   |                |   |   |         |   |   |   |   |
| Provision for loan losses                           |   |           | (1,891 | )      |                |   | 39     |         |   |   | (1,852 | ) |
|                                                |   |           |   |   |                |   |   |         |   |   |   |   |
| Net interest margin after provision for loan losses |   |           | 5,658  |   |                |   | 7      |         |   |   | 5,665 |   |
|                                                |   |           |   |   |                |   |   |         |   |   |   |   |
| Total other expenses                                |   |           | (2,854 | )      |                |   | (756   | )            |   |   | (3,610 | ) |
|                                                |   |           |   |   |                |   |   |         |   |   |   |   |
| Income (loss) before income taxes                   |   | $              | 2,804  |   |                | $      | (749   | )            |   | $ | 2,055 |   |

----

|                |   | March 31, |    |   | December 31, |   |
|---------------------|--------|-----------|---------|--------|--------------|--------|
|                |   | 2011      |    |   | 2010         |   |
|                |   |      |    |   |         |   |
| Corporate and other |   | $         | 40,672  |   |         | $      | 41,599 |   |
| Coastal Credit      |   |      | 101,921 |   |         |   | 100,009 |   |
|                |   |      |    |   |         |   |   |   |
|                |   | $         | 142,593 |   |         | $      | 141,608 |   |

| 8.  EARNINGS PER SHARE |
|----------------------------------|

|                                                   |   | Quarters Ended March 31, |      |
|--------------------------------------------------------|--------|--------------------------|-----------|
|                                                   |   | 2011                     |      |   | 2010 |   |
|                                                   |   |                     |      |   |   |   |
| Net income (loss) in thousands                         |   | $                        | 2,095     |   |   | $ | 1,347 |   |
|                                                   |   |                     |      |   |   |   |   |   |
| Weighted average shares outstanding                    |   |                     | 3,689,450 |   |   |   | 3,974,897 |   |
|                                                   |   |                     |      |   |   |   |   |   |
| Incremental shares from assumed conversions:           |   |                     |      |   |   |   |   |   |
| Stock award plans                                      |   |                     | 6,120     |   |   |   | 1,301 |   |
|                                                   |   |                     |      |   |   |   |   |   |
| Weighted average shares and assumed incremental shares |   |                     | 3,695,570 |   |   |   | 3,976,198 |   |
|                                                   |   |                     |      |   |   |   |   |   |
| Earnings per share:                                    |   |                     |      |   |   |   |   |   |
|                                                   |   |                     |      |   |   |   |   |   |
| Basic                                                  |   | $                        | 0.57      |   |   | $ | 0.34 |   |
|                                                   |   |                     |      |   |   |   |   |   |
| Diluted                                                |   | $                        | 0.57      |   |   | $ | 0.34 |   |

| 9.  COMMITMENTS AND CONTINGENCIES |
|---------------------------------------------|

----

| 10.  DIVIDENDS AND SHARE REPURCHASE PROGRAM |
|-------------------------------------------------------|

| Period                               |   | Total Number of Shares Purchased |    |   | Average Price Paid per Share |   |   | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs |   |   | Maximum Number of Shares that May Yet be Purchased Under the Program |   |
|--------------------------------------|--------|----------------------------------|---------|--------|------------------------------|--------|--------|----------------------------------------------------------------------------------|--------|--------|----------------------------------------------------------------------|--------|
|                                 |   |                             |    |   |                         |   |   |                                                                             |   |   |                                                                 |   |
| January 1, 2011 - January 31, 2011   |   |                             | -       |   |                         | $      | -      |                                                                             |   |   | -                                                                    |   |   |   | 118,050 |   |
| February 1, 2011 - February 28, 2011 |   |                             | -       |   |                         | $      | -      |                                                                             |   |   | -                                                                    |   |   |   | 118,050 |   |
| March 1, 2011 - March 31, 2011       |   |                             | 100,479 |   |                         | $      | 18.50  |                                                                             |   |   | 100,479                                                              |   |   |   | 17,571 |   |
|                                 |   |                             | 100,479 |   |                         | $      | 18.50  |                                                                             |   |   | 100,479                                                              |   |   |   |   |   |

| 11.  SUBSEQUENT EVENTS |
|----------------------------------|

----

----

----

| For The Quarter Ended March 31, 2011                          |   | Coastal Credit |   |   | Corporate and Other |   |   | Consolidated |   |
|---------------------------------------------------------------|--------|----------------|--------|--------|---------------------|--------|--------|--------------|--------|
|                                                          |   |           |   |   |                |   |   |         |   |
| Interest on receivables                                       |   | $              | 8,370  |   |                | $      | -      |         |   | $ | 8,370 |   |
| Accretion and other interest                                  |   |           | -      |   |                |   | -      |         |   |   | - |   |
|                                                          |   |           |   |   |                |   |   |         |   |   |   |   |
| Total interest income                                         |   |           | 8,370  |   |                |   | -      |         |   |   | 8,370 |   |
|                                                          |   |           |   |   |                |   |   |         |   |   |   |   |
| Interest expense                                              |   |           | (425   | )      |                |   | (43    | )            |   |   | (468 | ) |
|                                                          |   |           |   |   |                |   |   |         |   |   |   |   |
| Net interest margin (deficit)                                 |   |           | 7,945  |   |                |   | (43    | )            |   |   | 7,902 |   |
|                                                          |   |           |   |   |                |   |   |         |   |   |   |   |
| Provision for loan losses                                     |   |           | (1,050 | )      |                |   | (6     | )            |   |   | (1,056 | ) |
|                                                          |   |           |   |   |                |   |   |         |   |   |   |   |
| Net interest margin (deficit) after provision for loan losses |   |           | 6,895  |   |                |   | (49    | )            |   |   | 6,846 |   |
|                                                          |   |           |   |   |                |   |   |         |   |   |   |   |
| Total other expenses                                          |   |           | (3,100 | )      |                |   | (511   | )            |   |   | (3,611 | ) |
|                                                          |   |           |   |   |                |   |   |         |   |   |   |   |
| Income (loss) before income taxes                             |   |           | 3,795  |   |                |   | (560   | )            |   |   | 3,235 |   |
|                                                          |   |           |   |   |                |   |   |         |   |   |   |   |
| Income tax expense                                            |   |           | -      |   |                |   | (1,140 | )            |   |   | (1,140 | ) |
|                                                          |   |           |   |   |                |   |   |         |   |   |   |   |
| Net income (loss)                                             |   | $              | 3,795  |   |                | $      | (1,700 | )            |   | $ | 2,095 |   |

| For The Quarter Ended March 31, 2010                |   | Coastal Credit |   |   | Corporate and Other |   |   | Consolidated |   |
|-----------------------------------------------------|--------|----------------|--------|--------|---------------------|--------|--------|--------------|--------|
|                                                |   |           |   |   |                |   |   |         |   |
| Interest on receivables                             |   | $              | 7,854  |   |                | $      | 2      |         |   | $ | 7,856 |   |
| Accretion and other interest                        |   |           | -      |   |                |   | 9      |         |   |   | 9 |   |
|                                                |   |           |   |   |                |   |   |         |   |   |   |   |
| Total interest income                               |   |           | 7,854  |   |                |   | 11     |         |   |   | 7,865 |   |
|                                                |   |           |   |   |                |   |   |         |   |   |   |   |
| Interest expense                                    |   |           | (305   | )      |                |   | (43    | )            |   |   | (348 | ) |
|                                                |   |           |   |   |                |   |   |         |   |   |   |   |
| Net interest margin (deficit)                       |   |           | 7,549  |   |                |   | (32    | )            |   |   | 7,517 |   |
|                                                |   |           |   |   |                |   |   |         |   |   |   |   |
| Provision for loan losses                           |   |           | (1,891 | )      |                |   | 39     |         |   |   | (1,852 | ) |
|                                                |   |           |   |   |                |   |   |         |   |   |   |   |
| Net interest margin after provision for loan losses |   |           | 5,658  |   |                |   | 7      |         |   |   | 5,665 |   |
|                                                |   |           |   |   |                |   |   |         |   |   |   |   |
| Total other expenses                                |   |           | (2,854 | )      |                |   | (756   | )            |   |   | (3,610 | ) |
|                                                |   |           |   |   |                |   |   |         |   |   |   |   |
| Income (loss) before income taxes                   |   |           | 2,804  |   |                |   | (749   | )            |   |   | 2,055 |   |
|                                                |   |           |   |   |                |   |   |         |   |   |   |   |
| Income tax expense                                  |   |           | -      |   |                |   | (708   | )            |   |   | (708 | ) |
|                                                |   |           |   |   |                |   |   |         |   |   |   |   |
| Net income (loss)                                   |   | $              | 2,804  |   |                | $      | (1,457 | )            |   | $ | 1,347 |   |

----

----

----

|                                |   | March 31, |    |   | December 31, |   |
|-------------------------------------|--------|-----------|---------|--------|--------------|--------|
|                                |   | 2011      |    |   | 2010         |   |
|                                |   | $         |    |   | %            |   |   | $ |   |   | % |   |
|                                |   |      |    |   |         |   |   |   |   |   |   |   |   |   |
| Finance receivables - gross balance |   | $         | 122,649 |   |         |   |   |   | $ | 119,789 |   |   |   |   |
|                                |   |      |    |   |         |   |   |   |   |   |   |   |   |   |
| Delinquencies:                      |   |      |    |   |         |   |   |   |   |   |   |   |   |   |
| 30-59 days                          |   | $         | 900     |   |         |   | 0.7 | % |   | $ | 1,209 |   |   |   | 1.0 | % |
| 60-89 days                          |   |      | 370     |   |         |   | 0.3 | % |   |   | 538 |   |   |   | 0.4 | % |
| 90+ days                            |   |      | 362     |   |         |   | 0.3 | % |   |   | 354 |   |   |   | 0.3 | % |
| Total delinquencies                 |   | $         | 1,632   |   |         |   | 1.3 | % |   | $ | 2,101 |   |   |   | 1.7 | % |

----

|                                                                                            |   | Quarters Ended March 31, |    |
|-------------------------------------------------------------------------------------------------|--------|--------------------------|---------|
|                                                                                            |   | 2011                     |    |   | 2010 |   |
|                                                                                            |   |                     |    |   |   |   |   |   |
| Balance at beginning of period                                                                  |   | $                        | 8,153   |   |   | $ | 8,085 |   |
| Charge-offs                                                                                     |   |                     | (1,829  | ) |   |   | (2,272 | ) |
| Recoveries                                                                                      |   |                     | 579     |   |   |   | 531 |   |
| Provision for loan losses                                                                       |   |                     | 1,050   |   |   |   | 1,891 |   |
|                                                                                            |   |                     |    |   |   |   |   |   |
| Balance at the end of the period                                                                |   | $                        | 7,953   |   |   | $ | 8,235 |   |
|                                                                                            |   |                     |    |   |   |   |   |   |
| Finance receivables, net of unearned finance charges                                            |   | $                        | 120,635 |   |   | $ | 111,023 |   |
|                                                                                            |   |                     |    |   |   |   |   |   |
| Allowance for loan losses as a percent of finance receivables, net of unearned finance charges  |   |                     | 6.59    | % |   |   | 7.42 | % |
|                                                                                            |   |                     |    |   |   |   |   |   |
| Annualized net charge-offs as a percent of finance receivables, net of unearned finance charges |   |                     | 4.14    | % |   |   | 6.27 | % |
|                                                                                            |   |                     |    |   |   |   |   |   |
| Allowance for loan losses as a percent of annualized net charge-offs                            |   |                     | 159.06  | % |   |   | 118.25 | % |

|   | · | Coastal Credit is not dependent on the securitization market for financing. |
|--------|--------|-----------------------------------------------------------------------------|

|   | · | At March 31, 2011, there was $31.9 million available, in excess of the amount utilized, from the line of credit, which expires December 2011. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | White River is well capitalized with an equity to asset ratio of 57.8% as of March 31, 2011. |
|--------|--------|----------------------------------------------------------------------------------------------|

----

|   | · | the risks and uncertainties discussed in White River’s Annual Report on Form 10-K; |
|--------|--------|------------------------------------------------------------------------------------------|

|   | · | general economic, market, or business conditions; |
|--------|--------|---------------------------------------------------|

|   | · | changes in economic variables, such as the availability of business and consumer credit, conditions in the housing market, energy costs, the number and size of personal bankruptcy filings, the rate of unemployment and the levels of consumer confidence and consumer debt; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | changes in interest rates, the cost of funds, and demand for White River’s financial services; |
|--------|--------|------------------------------------------------------------------------------------------------------|

|   | · | the level and volatility of equity prices, commodity prices, currency values, investments, and other market fluctuations and other market indices; |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | changes in White River’s competitive position; |
|--------|--------|------------------------------------------------------|

|   | · | White River’s ability to manage growth; |
|--------|--------|-----------------------------------------------|

|   | · | the opportunities that may be presented to and pursued by White River; |
|--------|--------|------------------------------------------------------------------------|

|   | · | competitive actions by other companies; |
|--------|--------|-----------------------------------------|

|   | · | changes in laws or regulations, including the impact of current, pending and future legislation and regulations, including the impact of recently enacted federal economic and financial markets recovery legislation and comprehensive financial system regulatory reform legislation; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | changes in the policies of federal or state regulators and agencies; and |
|--------|--------|--------------------------------------------------------------------------|

|   | · | other circumstances, many of which are beyond White River’s control. |
|--------|--------|----------------------------------------------------------------------------|

----

----

| ITEM 2.  UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS |
|--------------------------------------------------------------------------------|

| ITEM 5.  OTHER INFORMATION |
|--------------------------------------|

----

|   | 1. | The election to the Board of Directors of the following individuals to hold office until the next annual meeting of shareholders and until their successors are duly elected and qualified: |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                  |   | Number of Votes |   |
|-----------------------|--------|-----------------|--------|
| Director              |   | For             |   | Withheld |   | Broker Non-Votes |   |
| John M. Eggemeyer     |   | 2,303,428       |   | 79,784 |   | 1,035,154 |   |
| Thomas C. Heagy       |   | 2,375,649       |   | 7,563 |   | 1,035,154 |   |
| William E. McKnight   |   | 2,375,348       |   | 7,864 |   | 1,035,154 |   |
| Daniel W. Porter      |   | 2,313,028       |   | 70,184 |   | 1,035,154 |   |
| John W. Rose          |   | 2,375,294       |   | 7,918 |   | 1,035,154 |   |
| Richard D. Waterfield |   | 2,375,649       |   | 7,563 |   | 1,035,154 |   |

|   | 2. | A proposal to ratify the appointment of McGladrey & Pullen, LLP as the independent registered public accounting firm for White River for the year ending December 31, 2011: |
|--------|----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Number of Votes |   |
|--------|-----------------|--------|
|   | For             |   | Against |   | Abstain |   | Broker Non-Votes |   |
|   | 3,409,741       |   | 8,290 |   | 335 |   | -0- |   |

| No.  |   | Description                                                                                                                                                                                                                                 |
|------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 10.1 |   | Stock Repurchase Agreement dated March 14, 2011 by and among White River Capital, Inc. and the Sellers listed therein (incorporated by reference to Exhibit 99.1 of the registrant’s Form 8-K filed March 14, 2011)                   |
| 10.2 |   | Stock Award Agreement dated March 18, 2011 by and between Martin J. Szumski and White River Capital, Inc. (incorporated by reference to Exhibit 99.1 of the registrant’s Form 8-K filed March 23, 2011)                               |
| 10.3 |   | First Amendment to Employment Agreement dated May 10, 2011 by and among Coastal Credit, LLC, White River Capital, Inc., and William E. McKnight, along with Amended and Restated Terms of Long-Term Cash Incentive Award dated May 10, 2011 |
| 31.1 |   | CEO Certification required by 17 C.F.R. Section 240.13a-14(a)                                                                                                                                                                               |
| 31.2 |   | CFO Certification required by 17 C.F.R. Section 240.13a-14(a)                                                                                                                                                                               |
| 32   |   | Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002                                                                                                                      |

----

|         |                      |                                                                     |
|--------------|---------------------------|--------------------------------------------------------------------------|
|         | White River Capital, Inc. |
|         | (Registrant)              |
|         |                      |                                                                     |
| May 11, 2011 | By:                       | /s/ Martin J. Szumski                                                    |
|         |                      | Martin J. Szumski                                                        |
|         |                      | Chief Financial Officer                                                  |
|         |                      | (Signing on behalf of the registrant and as Principal Financial Officer) |

----

| No.    |         | Description                                                                                                                                                                                                                                 |         | Location                                                                                           |
|--------|--------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------|----------------------------------------------------------------------------------------------------|
|   |         |                                                                                                                                                                                                                                        |         |                                                                                               |
| 10.1   |         | Stock Repurchase Agreement dated March 14, 2011 by and among White River Capital, Inc. and the Sellers listed therein                                                                                                                       |         | Incorporated by reference to Exhibit 99.1 of the registrant’s Form 8-K filed March 14, 2011. |
|   |         |                                                                                                                                                                                                                                        |         |                                                                                               |
| 10.2   |         | Stock Award Agreement dated March 18, 2011 by and between Martin J. Szumski and White River Capital, Inc.                                                                                                                                   |         | Incorporated by reference to Exhibit 99.1 of the registrant’s Form 8-K filed March 23, 2011. |
|   |         |                                                                                                                                                                                                                                        |         |                                                                                               |
| 10.3   |         | First Amendment to Employment Agreement dated May 10, 2011 by and among Coastal Credit, LLC, White River Capital, Inc., and William E. McKnight, along with Amended and Restated Terms of Long-Term Cash Incentive Award dated May 10, 2011 |         | Attached                                                                                           |
|   |         |                                                                                                                                                                                                                                        |         |                                                                                               |
| 31.1   |    | CEO Certification required by 17 C.F.R. Section 240.13a-14(a)                                                                                                                                                                               |    | Attached                                                                                           |
|   |         |                                                                                                                                                                                                                                        |         |                                                                                               |
| 31.2   |         | CFO Certification required by 17 C.F.R. Section 240.13a-14(a)                                                                                                                                                                               |         | Attached                                                                                           |
|   |         |                                                                                                                                                                                                                                        |         |                                                                                               |
| 32     |         | Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002                                                                                                                      |         | Attached                                                                                           |