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

| Securities registered pursuant to Section 12(b) of the Act:                         |
|------------------------------------------------------------------------------------------|
| Common Stock, without par value                                                          | NYSE Amex |
|                                                                                     |
|  Securities registered pursuant to Section 12(g) of the Act:   None. |

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|   | 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                                                                                                             |   |
| Item 1.  | Business                                                                                                           | 1      |
|     |                                                                                                               |   |
| Item 1A. | Risk Factors                                                                                                       | 10     |
|     |                                                                                                               |   |
| Item 1B. | Unresolved Staff Comments                                                                                          | 10     |
|     |                                                                                                               |   |
| Item 2.  | Properties                                                                                                         | 10     |
|     |                                                                                                               |   |
| Item 3.  | Legal Proceedings                                                                                                  | 11     |
|     |                                                                                                               |   |
| Item 4.  | (Removed and Reserved)                                                                                             | 11     |
|     |                                                                                                               |   |
|     | PART II                                                                                                            |   |
|     |                                                                                                               |   |
| Item 5.  | Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities | 12     |
|     |                                                                                                               |   |
| Item 6.  | Selected Financial Data                                                                                            | 18     |
|     |                                                                                                               |   |
| Item 7.  | Management’s Discussion and Analysis of Financial Condition and Results of Operations                        | 19     |
|     |                                                                                                               |   |
| Item 7A. | Quantitative and Qualitative Disclosures About Market Risk                                                         | 28     |
|     |                                                                                                               |   |
| Item 8.  | Financial Statements and Supplementary Data                                                                        | 29     |
|     |                                                                                                               |   |
|     | Report of Independent Registered Public Accounting Firm – McGladrey & Pullen LLP                         | 29     |
|     |                                                                                                               |   |
|     | Consolidated Balance Sheets as of December 31, 2010 and 2009                                                       | 30     |
|     |                                                                                                               |   |
|     | Consolidated Statements of Operations for the Years Ended December 31, 2010 and 2009                               | 31     |
|     |                                                                                                               |   |
|     | Consolidated Statements of Shareholders’ Equity for the Years Ended December 31, 2010 and 2009               | 32     |
|     |                                                                                                               |   |
|     | Consolidated Statements of Cash Flows for the Years Ended December 31, 2010 and 2009                               | 33     |
|     |                                                                                                               |   |
|     | Notes to Consolidated Financial Statements                                                                         | 34     |

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| Item 9.    | Changes in and Disagreements with Accountants on Accounting and Financial Disclosure           | 53     |
|------------|------------------------------------------------------------------------------------------------|--------|
|       |                                                                                           |   |
| Item 9A.   | Controls and Procedures                                                                        | 53     |
|       |                                                                                           |   |
| Item 9B.   | Other Information                                                                              | 53     |
|       |                                                                                           |   |
|       | PART III                                                                                       |   |
|       |                                                                                           |   |
| Item 10.   | Directors, Executive Officers and Corporate Governance                                         | 54     |
|       |                                                                                           |   |
| Item 11.   | Executive Compensation                                                                         | 54     |
|       |                                                                                           |   |
| Item 12.   | Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters | 54     |
|       |                                                                                           |   |
| Item 13.   | Certain Relationships and Related Transactions, and Director Independence                      | 55     |
|       |                                                                                           |   |
| Item 14.   | Principal Accounting Fees and Services                                                         | 55     |
|       |                                                                                           |   |
|       | PART IV                                                                                        |   |
|       |                                                                                           |   |
| Item 15.   | Exhibits                                                                                       | 56     |
|       |                                                                                           |   |
| SIGNATURES | 58                                                                                             |

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| ·   | Extended warranty protection – covers the cost of certain repairs after the vehicle’s warranty expires; |
|--------------------|---------------------------------------------------------------------------------------------------------------------|

| ·   | Gap protection – pays an amount between what the borrower owes and the primary insurance cash value of a vehicle if the vehicle is stolen or destroyed; and |
|--------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Collateral protection insurance – pays the cost to repair or the value of the vehicle if the vehicle is stolen, damaged or destroyed. |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | 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. |
|--------------------|----------------------------------------------------------------------------------|

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|   |      |   | December 31, 2010 |   |   | December 31, 2009 |   |
|--------|-----------|--------|-------------------|--------|--------|-------------------|--------|
|   |      |   | Units             |   |   | %                 |   |   | $ |   |   | % |   |   | Units |   |   | % |   |   | $ |   |   | % |   |
|   | Region #1 |   |              | 2,450  |   |              |   | 40.5 | % |   | $ | 31,884 |   |   |   | 46.0 | % |   |   | 2,516 |   |   |   | 43.4 | % |   | $ | 29,598 |   |   |   | 48.6 | % |
|   | Region #2 |   |              | 1,162  |   |              |   | 19.2 | % |   |   | 11,115 |   |   |   | 16.0 | % |   |   | 1,299 |   |   |   | 22.4 | % |   |   | 11,215 |   |   |   | 18.4 | % |
|   | Region #3 |   |              | 1,377  |   |              |   | 22.8 | % |   |   | 14,616 |   |   |   | 21.1 | % |   |   | 1,130 |   |   |   | 19.5 | % |   |   | 10,858 |   |   |   | 17.8 | % |
|   | Region #4 |   |              | 1,060  |   |              |   | 17.5 | % |   |   | 11,738 |   |   |   | 16.9 | % |   |   | 851 |   |   |   | 14.7 | % |   |   | 9,195 |   |   |   | 15.1 | % |
|   |      |   |              | 6,049  |   |              |   | 100.0 | % |   | $ | 69,353 |   |   |   | 100.0 | % |   |   | 5,796 |   |   |   | 100.0 | % |   | $ | 60,866 |   |   |   | 100.0 | % |

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|   | · | State consumer regulatory agency requirements. Pursuant to the regulations of various states, the appropriate state regulatory agency may periodically conduct on-site audits of Coastal Credit’s branches in Florida, Delaware, Louisiana, Mississippi and Oklahoma. These regulations govern, among other matters, licensure requirements, requirements for maintenance of proper records, payment of required fees, maximum interest rates that may be charged on loans to finance used vehicles and proper disclosure to customers regarding financing terms. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | · | State licensing requirements. Coastal Credit maintains the following licenses: |
|--------|--------|--------------------------------------------------------------------------------|

|   | State        |   | License                                     |
|--------|--------------|--------|---------------------------------------------|
|   | Delaware     |   | Motor Vehicle Sales Finance License         |
|   | Florida      |   | Sales Finance Company License               |
|   | Louisiana    |   | Sales Finance Company License               |
|   | Maryland     |   | Sales Finance License                       |
|   | Mississippi  |   | Motor Vehicle Sales Finance License         |
|   | Missouri     |   | Motor Vehicle Time Sales License            |
|   | New Mexico   |   | Motor Vehicle Sales Finance Company License |
|   | Oklahoma     |   | Supervised Lender License                   |
|   | Pennsylvania |   | Sales Finance Company License               |
|   | Texas        |   | Motor Vehicle Sales Finance License         |

|   | · | Fair Debt Collection Act. The Fair Debt Collection Act and applicable state law counterparts prohibit Coastal Credit from contacting customers during certain times and at certain places, from using certain threatening practices and from making false implications when attempting to collect a debt. |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Truth in Lending Act. The Truth in Lending Act requires Coastal Credit and the dealers with whom Coastal Credit does business to make certain disclosures to customers, including the terms of repayment, the total finance charge and the annual percentage rate charged on each contract. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Equal Credit Opportunity Act. The Equal Credit Opportunity Act prohibits Coastal Credit from discriminating against loan applicants on the basis of race, color, sex, age or marital status. Pursuant to Regulation B promulgated under the Equal Credit Opportunity Act, Coastal Credit is required to make certain disclosures regarding consumer rights and advise consumers whose credit applications are not approved of the reasons for the rejection. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Fair Credit Reporting Act. The Fair Credit Reporting Act requires Coastal Credit to provide certain information to consumers whose credit applications are not approved on the basis of a report obtained from a consumer reporting agency. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Gramm-Leach-Bliley Act. The Gramm-Leach-Bliley Act requires Coastal Credit to maintain privacy with respect to certain consumer data in its possession and to periodically communicate with consumers on privacy matters. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Servicemembers' Civil Relief Act. Formerly called the Soldiers’ and Sailors’ Civil Relief Act, the Servicemembers’ Civil Relief Act provides certain protections to borrowers who, subsequent to entering into a contract, have joined or enlisted, or been called to active duty with, the military. Coastal Credit is prohibited from repossessing the vehicles of such borrowers and from terminating the contracts with such borrowers for breach. In addition, Coastal Credit is |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   |   | required to reduce the interest rate charged on each loan to such borrowers to 6% if the borrower’s military duty affects the borrower’s ability to pay his or her contract. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Electronic Funds Transfer Act. The Electronic Funds Transfer Act prohibits Coastal Credit from requiring its customers to repay a loan or other credit by electronic funds transfer, except in limited situations, which do not apply to Coastal Credit. Coastal Credit is also required to provide certain documentation to its customers when an electronic funds transfer is initiated and to provide certain notifications to its customers with regard to preauthorized payments. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Bureau of Consumer Financial Protection. On July 21, 2010, President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) which significantly changes the regulation of financial institutions and the financial services industry.  Among other provisions, the Dodd-Frank Act established the Bureau of Consumer Financial Protection (the “BCFP”) within the Federal Reserve, which will regulate consumer financial products and services.  On July 21, 2011, many consumer financial protection functions currently assigned to the federal banking and other designated agencies will shift to the BCFP.  The BCFP will have broad rulemaking authority over providers of credit, savings and payment services and products.  The BCFP will be directed to prevent “unfair, deceptive or abusive practices” and ensure that all consumers have access to markets for consumer financial products and services, and that such markets are fair, transparent and competitive.  The BCFP will have rulemaking and interpretive authority under existing and future consumer financial services laws.  State officials will be authorized to enforce consumer protection rules issued by the BCFP.  The BCFP is likely to affect how Coastal Credit will be regulated in the future. |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Bankruptcy. Federal bankruptcy and related state laws may interfere with or affect Coastal Credit’s ability to recover collateral or enforce a deficiency judgment. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                              |   | December 31, 2010 |   |   | December 31, 2009                                   |   |
|-----------------------------------|--------|-------------------|--------|--------|-----------------------------------------------------|--------|
|                              |   | Carrying Value    |   |   | Contractual Remaining Debt Not Owned by White River |   |   | Total Contractual Remaining Debt |   |   | Carrying Value |   |   | Contractual Remaining Debt Not Owned by White River |   |   | Total Contractual Remaining Debt |   |
| Restructured debt:                |   |              |   |   |                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Class 2A general unsecured claims |   | $                 | -      |   |                                                | $      | - |   |   | $ | 10 |   |   | $ | - |   |   | $ | - |   |   | $ | 10 |   |
| Restructured subordinated notes   |   |              | -      |   |                                                |   | 1,541 |   |   |   | 14,176 |   |   |   | 7 |   |   |   | 1,541 |   |   |   | 14,176 |   |
| Senior accrual notes              |   |              | -      |   |                                                |   | - |   |   |   | 4,106 |   |   |   | - |   |   |   | - |   |   |   | 4,106 |   |
| Subordinated accrual notes        |   |              | -      |   |                                                |   | 431 |   |   |   | 3,964 |   |   |   | - |   |   |   | 431 |   |   |   | 3,964 |   |
|                              |   |              |   |   |                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total creditor notes payable      |   | $                 | -      |   |                                                | $      | 1,972 |   |   | $ | 22,256 |   |   | $ | 7 |   |   | $ | 1,972 |   |   | $ | 22,256 |   |

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|   |                                |   | High   |   |   | Low    |   |   | Close  |   |   | Dividends |   |
|--------|-------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|-----------|--------|
|   |                                |   |   |   |   |   |   |   |   |   |   |      |   |
|   | Fiscal year ended December 31, 2009 |   |   |   |   |   |   |   |   |   |   |      |   |
|   | First Quarter                       |   | $      | 7.75   |   |   | $      | 5.20   |   |   | $      | 6.00      |   |   | $ | - |   |
|   | Second Quarter                      |   |   | 9.59   |   |   |   | 6.00   |   |   |   | 9.30      |   |   |   | - |   |
|   | Third Quarter                       |   |   | 13.63  |   |   |   | 9.00   |   |   |   | 10.50     |   |   |   | - |   |
|   | Fourth Quarter                      |   |   | 16.06  |   |   |   | 10.05  |   |   |   | 11.24     |   |   |   | 0.25 |   |
|   |                                |   |   |   |   |   |   |   |   |   |   |      |   |   |   |   |   |
|   | Fiscal year ended December 31, 2010 |   |   |   |   |   |   |   |   |   |   |      |   |   |   |   |   |
|   | First Quarter                       |   | $      | 14.27  |   |   | $      | 10.99  |   |   | $      | 13.70     |   |   | $ | 0.25 |   |
|   | Second Quarter                      |   |   | 15.88  |   |   |   | 12.40  |   |   |   | 13.64     |   |   |   | 0.25 |   |
|   | Third Quarter                       |   |   | 18.28  |   |   |   | 13.36  |   |   |   | 16.49     |   |   |   | 0.25 |   |
|   | Fourth Quarter                      |   |   | 22.80  |   |   |   | 15.75  |   |   |   | 16.32     |   |   |   | 4.25 |   |

|   | Date Dividend Declared |   | Record Date       |   | Payment Date      |   | Dividend Type  |   | Cash Dividend Per Share |   | Total Divided Paid (in thousands) |
|--------|------------------------|--------|-------------------|--------|-------------------|--------|----------------|--------|-------------------------|--------|-----------------------------------|
|   |                   |   |              |   |              |   |           |   |                    |   |                              |   |
|   | November 11, 2009      |   | November 20, 2009 |   | December 4, 2009  |   | Quarterly Cash |   | $0.25                   |   | $  1,016                     | .1 |
|   | February 22, 2010      |   | March 3, 2010     |   | March 12, 2010    |   | Quarterly Cash |   | $0.25                   |   | $     995     | .6 |
|   | May 6, 2010            |   | May 17, 2010      |   | May 28, 2010      |   | Quarterly Cash |   | $0.25                   |   | $     980     | .7 |
|   | August 2, 2010         |   | August 12, 2010   |   | August 26, 2010   |   | Quarterly Cash |   | $0.25                   |   | $     938     | .7 |
|   | November 2, 2010       |   | November 12, 2010 |   | November 22, 2010 |   | Quarterly Cash |   | $0.25                   |   | $     938     | .7 |
|   | November 30, 2010      |   | December 9, 2010  |   | December 21, 2010 |   | Special Cash   |   | $4.00                   |   | $14,867                           | .0 |

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|   | · | the repeal by the Internal Revenue Service of the NOL carryforward limitations in the Code if White River’s board of directors determines the transfer restrictions are no longer necessary for the preservation of the tax benefits; and |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | the beginning of a taxable year of White River to which White River’s board determines that no tax benefits may be carried forward. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | would create a new “public group” of White River. For example, the transfer of stock by an existing 5-percent shareholder to the public would be deemed to result in the creation of a separate, segregated “public group” that would be a new 5-percent shareholder; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | would give rise to a “prohibited ownership percentage,” which is defined by reference to complex federal tax laws and regulations, but generally means any direct or indirect ownership that would cause any person, including a “public group” as defined in the NOL carryforward limitations, to be considered a 5-percent shareholder of White River. By way of example, if shareholder A owns 4% of White River’s outstanding shares of common stock, and shareholder B attempted to sell 2% of White River’s outstanding shares to shareholder A, the transfer restrictions would prohibit the sale of approximately 1.1% of the shares out of the 2% attempted to be sold; or |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | · | would increase the ownership percentage of any person, including a public group that is already a 5-percent shareholder of White River. Therefore, no shareholder will be permitted to sell any shares to 5-percent holders or their affiliates without board approval. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | · | to accelerate or extend the expiration date of the transfer restrictions, modify the definitions of any terms set forth in White River’s articles of incorporation with respect to the transfer restrictions or conform certain provisions to make them consistent with any future changes in federal tax law, in the event of a change in law or regulation or if it otherwise believes such action is in the best interests of White River, provided White River’s board of directors determines in writing that such action is reasonably necessary or desirable to preserve the tax benefits or that continuation of the transfer restrictions is no longer reasonably necessary for the preservation of the tax benefits; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | to adopt by-laws, regulations and procedures, not inconsistent with the transfer restrictions, for purposes of determining whether any acquisition of White River common stock would jeopardize the ability of White River to preserve and use the tax benefits and for the orderly application, administration and implementation of the transfer restrictions; and |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | to administer, interpret and make calculations under the transfer restrictions, which power it may delegate in whole or in part to a committee of White River’s board of directors, and which actions shall be final and binding on all parties if made in good faith. |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | · | to preserve important characteristics of White River for federal income tax purposes and, in particular, the NOLs; |
|--------|--------|--------------------------------------------------------------------------------------------------------------------|

|   | · | to protect White River and its shareholders against undisclosed efforts to assume or influence control of White River, its operations and policies; and |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | to facilitate communication among White River and its shareholders. |
|--------|--------|---------------------------------------------------------------------|

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|   | · | may have the effect of impeding the attempt of a person or entity to acquire a significant or controlling interest in White River; |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------|

|   | · | may render it more difficult to effect a merger or similar transaction even if such transaction is favored by a majority of the independent shareholders of White River; and |
|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | may serve to entrench management. |
|--------|--------|-----------------------------------|

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|   | 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, 2010 - March 31, 2010    |   |                             | 96,400  |   |                         | $      | 12.80  |                                                                             |   |   | 96,400                                                               |   |   |   | 336,600 |   |
|   | April 1, 2010 - June 30, 2010       |   |                             | 150,350 |   |                         | $      | 14.60  |                                                                             |   |   | 150,350                                                              |   |   |   | 186,250 |   |
|   | July 1, 2010 - September 30, 2010   |   |                             | 18,200  |   |                         | $      | 14.03  |                                                                             |   |   | 18,200                                                               |   |   |   | 168,050 |   |
|   | October 1, 2010 - December 31, 2010 |   |                             | 50,000  |   |                         | $      | 21.10  |                                                                             |   |   | 50,000                                                               |   |   |   | 118,050 |   |
|   |                                |   |                             | 314,950 |   |                         | $      | 15.04  |                                                                             |   |   | 314,950                                                              |   |   |   |   |   |

|   | 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 |   |
|--------|--------------------------------------|--------|----------------------------------|--------|--------|------------------------------|--------|--------|----------------------------------------------------------------------------------|--------|--------|----------------------------------------------------------------------|--------|
|   |                                 |   |                             |   |   |                         |   |   |                                                                             |   |   |                                                                 |   |
|   | October 1, 2010 - October 31, 2010   |   |                             | -      |   |                         | $      | -      |                                                                             |   |   | -                                                                    |   |   |   | 168,050 |   |
|   | November 1, 2010 - November 30, 2010 |   |                             | -      |   |                         | $      | -      |                                                                             |   |   | -                                                                    |   |   |   | 168,050 |   |
|   | December 1, 2010 - December 31, 2010 |   |                             | 50,000 |   |                         | $      | 21.10  |                                                                             |   |   | 50,000                                                               |   |   |   | 118,050 |   |
|   |                                 |   |                             | 50,000 |   |                         | $      | 21.10  |                                                                             |   |   | 50,000                                                               |   |   |   |   |   |

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| For The Year Ended December 31, 2010                                     |   | UAC    |   |   | Coastal Credit |   |    | Corporate and Other |   |   | Consolidated |   |
|--------------------------------------------------------------------------|--------|--------|--------|--------|----------------|--------|---------|---------------------|--------|--------|--------------|--------|
|                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |
| Total interest income                                                    |   | $      | 7      |   |           | $      | 32,808  |                |   | $      | 10           |   |   | $ | 32,825 |   |
|                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
| Interest expense                                                         |   |   | (174   | )      |           |   | (1,318  | )                   |   |   | -            |   |   |   | (1,492 | ) |
|                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
| Net interest margin                                                      |   |   | (167   | )      |           |   | 31,490  |                |   |   | 10           |   |   |   | 31,333 |   |
|                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
| Recovery (provision) for loan losses                                     |   |   | 72     |   |           |   | (6,426  | )                   |   |   | -            |   |   |   | (6,354 | ) |
|                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
| Net interest margin (deficit) after recovery (provision) for loan losses |   |   | (95    | )      |           |   | 25,064  |                |   |   | 10           |   |   |   | 24,979 |   |
|                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
| Total other expenses                                                     |   |   | (61    | )      |           |   | (11,654 | )                   |   |   | (1,850       | )      |   |   | (13,565 | ) |
|                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
| Income (loss) before income taxes                                        |   | $      | (156   | )      |           | $      | 13,410  |                |   | $      | (1,840       | )      |   | $ | 11,414 |   |
|                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
|                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
| For The Year Ended December 31, 2009                                     |   | UAC    |   |   | Coastal Credit |   |    | Corporate and Other |   |   | Consolidated |   |
|                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
| Total interest income                                                    |   | $      | 414    |   |           | $      | 30,904  |                |   | $      | 34           |   |   | $ | 31,352 |   |
|                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
| Interest expense                                                         |   |   | (174   | )      |           |   | (1,332  | )                   |   |   | -            |   |   |   | (1,506 | ) |
|                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
| Net interest margin                                                      |   |   | 240    |   |           |   | 29,572  |                |   |   | 34           |   |   |   | 29,846 |   |
|                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
| Recovery (provision) for loan losses                                     |   |   | 279    |   |           |   | (8,571  | )                   |   |   | -            |   |   |   | (8,292 | ) |
|                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
| Net interest margin after recovery (provision) for loan losses           |   |   | 519    |   |           |   | 21,001  |                |   |   | 34           |   |   |   | 21,554 |   |
|                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
| Total other expenses                                                     |   |   | (1,372 | )      |           |   | (11,332 | )                   |   |   | (1,300       | )      |   |   | (14,004 | ) |
|                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
| Income (loss) before income taxes                                        |   | $      | (853   | )      |           | $      | 9,669   |                |   | $      | (1,266       | )      |   | $ | 7,550 |   |

----

| The Year Ended December 31, 2010 Compared to the Year Ended December 31, 2009 - Consolidated |
|----------------------------------------------------------------------------------------------|

|   |                                                               |   | Years Ended December 31, |   |
|--------|--------------------------------------------------------------------|--------|--------------------------|--------|
|   |                                                               |   | 2010                     |   |   | 2009 |   |
|   |                                                               |   |                     |   |   |   |   |
|   | UAC discount accretion from accumulated other comprehensive income |   | $                        | 5      |   |   | $ | 326 |   |
|   | Interest on cash balances                                          |   |                     | 10     |   |   |   | 35 |   |
|   |                                                               |   |                     |   |   |   |   |   |   |
|   | Accretion and other interest income                                |   | $                        | 15     |   |   | $ | 361 |   |

----

----

----

|   | Date Dividend Declared |   | Record Date       |   | Payment Date      |   | Dividend Type      |   | Cash Dividend Per Share |   | Total Divided Paid (in thousands) |
|--------|------------------------|--------|-------------------|--------|-------------------|--------|--------------------|--------|-------------------------|--------|-----------------------------------|
|   |                   |   |              |   |              |   |               |   |                    |   |                              |
|   | November 11, 2009      |   | Novmeber 20, 2009 |   | December 4, 2009  |   | Quarterly Cash     |   | $   0.25      |   | $  1,016.1                   |
|   | February 22, 2010      |   | March 3, 2010     |   | March 12, 2010    |   | Quarterly Cash     |   | $   0.25      |   | $     995.6   |
|   | May 6, 2010            |   | May 17, 2010      |   | May 28, 2010      |   | Quarterly Cash     |   | $   0.25      |   | $     980.7        |
|   | August 2, 2010         |   | August 12, 2010   |   | August 26, 2010   |   | Quarterly Cash     |   | $   0.25      |   | $     938.7   |
|   | November 2, 2010       |   | November 12, 2010 |   | November 22, 2010 |   | Quarterly Cash     |   | $   0.25      |   | $     938.7   |
|   | November 30, 2010      |   | December 9, 2010  |   | December 21, 2010 |   |  Special Cash |   | $   4.00      |   | $14,867.0                         |

|   |                                |   | December 31, |    |
|--------|-------------------------------------|--------|--------------|---------|
|   |                                |   | 2010         |    |   | 2009 |   |
|   |                                |   | $            |    |   | % |   |   | $ |   |   | % |   |
|   |                                |   |         |    |   |   |   |   |   |   |   |   |   |
|   | Finance receivables - gross balance |   | $            | 119,789 |   |   |   |   |   | $ | 110,847 |   |   |   |   |
|   |                                |   |         |    |   |   |   |   |   |   |   |   |   |   |   |
|   | Delinquencies:                      |   |         |    |   |   |   |   |   |   |   |   |   |   |   |
|   | 30-59 days                          |   | $            | 1,209   |   |   |   | 1.0 | % |   | $ | 1,301 |   |   |   | 1.2 | % |
|   | 60-89 days                          |   |         | 538     |   |   |   | 0.4 | % |   |   | 1,107 |   |   |   | 1.0 | % |
|   | 90+ days                            |   |         | 354     |   |   |   | 0.3 | % |   |   | 1,706 |   |   |   | 1.5 | % |
|   | Total delinquencies                 |   | $            | 2,101   |   |   |   | 1.8 | % |   | $ | 4,114 |   |   |   | 3.7 | % |

----

|   |                                                                                           |   | Years Ended December 31, |    |
|--------|------------------------------------------------------------------------------------------------|--------|--------------------------|---------|
|   |                                                                                           |   | 2010                     |    |   | 2009 |   |
|   | Balance at beginning of period                                                                 |   | $                        | 8,085   |   |   | $ | 7,560 |   |
|   | Charge-offs                                                                                    |   |                     | (8,488  | ) |   |   | (9,996 | ) |
|   | Recoveries                                                                                     |   |                     | 2,130   |   |   |   | 1,950 |   |
|   | Provision for loan losses                                                                      |   |                     | 6,426   |   |   |   | 8,571 |   |
|   |                                                                                           |   |                     |    |   |   |   |   |   |
|   | Balance at the end of the period                                                               |   | $                        | 8,153   |   |   | $ | 8,085 |   |
|   |                                                                                           |   |                     |    |   |   |   |   |   |
|   | Finance receivables, net of unearned finance charges                                           |   | $                        | 117,837 |   |   | $ | 108,676 |   |
|   |                                                                                           |   |                     |    |   |   |   |   |   |
|   | Allowance for loan losses as a percent of finance receivables, net of unearned finance charges |   |                     | 6.92    | % |   |   | 7.44 | % |
|   |                                                                                           |   |                     |    |   |   |   |   |   |
|   | Net charge-offs as a percent of finance receivables, net of unearned finance charges           |   |                     | 5.40    | % |   |   | 7.40 | % |
|   |                                                                                           |   |                     |    |   |   |   |   |   |
|   | Allowance for loan losses as a percent of net charge-offs                                      |   |                     | 128.23  | % |   |   | 100.48 | % |

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

|   | · | At December 31, 2010, there was $31.6 million available, in excess of the amount utilized, from the line of credit, which does not expire until December 2011. |
|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | White River is well capitalized with an equity to asset ratio of 58.6% as of December 31, 2010. |
|--------|--------|-------------------------------------------------------------------------------------------------|

----

| ·   | the risks and uncertainties discussed in this 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. |
|--------------------|----------------------------------------------------------------------------|

----

----

----

|                                                                                                                                                      |   | December 31, 2010 |    |   | December 31, 2009 |   |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------|--------|-------------------|---------|--------|-------------------|--------|
| ASSETS                                                                                                                                                    |   |              |    |   |              |   |
|                                                                                                                                                      |   |              |    |   |              |   |
| Cash and cash equivalents                                                                                                                                 |   | $                 | 3,287   |   |              | $      | 6,797 |   |
| Finance receivables—net                                                                                                                             |   |              | 96,723  |   |              |   | 88,612 |   |
| Deferred tax assets—net                                                                                                                             |   |              | 40,914  |   |              |   | 44,711 |   |
| Other assets                                                                                                                                              |   |              | 684     |   |              |   | 836 |   |
|                                                                                                                                                      |   |              |    |   |              |   |   |   |
| TOTAL                                                                                                                                                     |   | $                 | 141,608 |   |              | $      | 140,956 |   |
|                                                                                                                                                      |   |              |    |   |              |   |   |   |
|                                                                                                                                                      |   |              |    |   |              |   |   |   |
| LIABILITIES AND SHAREHOLDERS’ EQUITY                                                                                                                |   |              |    |   |              |   |   |   |
|                                                                                                                                                      |   |              |    |   |              |   |   |   |
| LIABILITIES:                                                                                                                                              |   |              |    |   |              |   |   |   |
| Line of credit                                                                                                                                            |   | $                 | 56,000  |   |              | $      | 40,000 |   |
| Accrued interest                                                                                                                                          |   |              | 130     |   |              |   | 107 |   |
| Creditor notes payable                                                                                                                                    |   |              | -       |   |              |   | 7 |   |
| Other payables and accrued expenses                                                                                                                       |   |              | 2,449   |   |              |   | 1,726 |   |
|                                                                                                                                                      |   |              |    |   |              |   |   |   |
| Total liabilities                                                                                                                                         |   |              | 58,579  |   |              |   | 41,840 |   |
|                                                                                                                                                      |   |              |    |   |              |   |   |   |
| 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; 3,706,759 and 3,997,506 issued and outstanding at December 31, 2010 and 2009, respectively |   |              | 177,403 |   |              |   | 181,845 |   |
| Accumulated other comprehensive income, net of taxes                                                                                                      |   |              | -       |   |              |   | 3 |   |
| Accumulated deficit                                                                                                                                       |   |              | (94,374 | )      |              |   | (82,732 | ) |
|                                                                                                                                                      |   |              |    |   |              |   |   |   |
| Total shareholders’ equity                                                                                                                          |   |              | 83,029  |   |              |   | 99,116 |   |
|                                                                                                                                                      |   |              |    |   |              |   |   |   |
| TOTAL                                                                                                                                                     |   | $                 | 141,608 |   |              | $      | 140,956 |   |

----

|                                                         |   | Years Ended December 31, |      |
|--------------------------------------------------------------|--------|--------------------------|-----------|
|                                                         |   | 2010                     |      |   | 2009 |   |
| INTEREST:                                                    |   |                     |      |   |   |   |
| Interest on receivables                                      |   | $                        | 32,810    |   |   | $ | 30,991 |   |
| Accretion and other interest                                 |   |                     | 15        |   |   |   | 361 |   |
|                                                         |   |                     |      |   |   |   |   |   |
| Total interest income                                        |   |                     | 32,825    |   |   |   | 31,352 |   |
|                                                         |   |                     |      |   |   |   |   |   |
| Interest expense                                             |   |                     | (1,492    | ) |   |   | (1,506 | ) |
|                                                         |   |                     |      |   |   |   |   |   |
| Net interest margin                                          |   |                     | 31,333    |   |   |   | 29,846 |   |
|                                                         |   |                     |      |   |   |   |   |   |
| Provision for loan losses                                    |   |                     | (6,354    | ) |   |   | (8,292 | ) |
|                                                         |   |                     |      |   |   |   |   |   |
| Net interest margin after provision for loan losses          |   |                     | 24,979    |   |   |   | 21,554 |   |
|                                                         |   |                     |      |   |   |   |   |   |
| OTHER REVENUES (EXPENSES):                                   |   |                     |      |   |   |   |   |   |
| Salaries and benefits                                        |   |                     | (8,997    | ) |   |   | (8,025 | ) |
| Other operating expenses                                     |   |                     | (4,607    | ) |   |   | (6,027 | ) |
| Change in fair market valuation of creditor notes payable    |   |                     | 179       |   |   |   | 139 |   |
| Gain from deficiency account sale                            |   |                     | 37        |   |   |   | 171 |   |
| Other expense                                                |   |                     | (177      | ) |   |   | (262 | ) |
|                                                         |   |                     |      |   |   |   |   |   |
| Total other expenses                                         |   |                     | (13,565   | ) |   |   | (14,004 | ) |
|                                                         |   |                     |      |   |   |   |   |   |
| INCOME BEFORE INCOME TAXES                                   |   |                     | 11,414    |   |   |   | 7,550 |   |
|                                                         |   |                     |      |   |   |   |   |   |
| INCOME TAX EXPENSE                                           |   |                     | (4,335    | ) |   |   | (2,680 | ) |
|                                                         |   |                     |      |   |   |   |   |   |
| NET INCOME                                                   |   | $                        | 7,079     |   |   | $ | 4,870 |   |
|                                                         |   |                     |      |   |   |   |   |   |
| NET INCOME PER COMMON SHARE (BASIC)                          |   | $                        | 1.84      |   |   | $ | 1.20 |   |
|                                                         |   |                     |      |   |   |   |   |   |
| NET INCOME PER COMMON SHARE (DILUTED)                        |   | $                        | 1.84      |   |   | $ | 1.20 |   |
|                                                         |   |                     |      |   |   |   |   |   |
| BASIC WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING   |   |                     | 3,838,894 |   |   |   | 4,056,088 |   |
|                                                         |   |                     |      |   |   |   |   |   |
| DILUTED WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING |   |                     | 3,839,218 |   |   |   | 4,057,972 |   |

----

|                                                       |   | Number of Common Shares Outstanding |      |   | Common Stock |   |    | Accumulated Other Comprehensive Income |   |   | Accumulated Deficit             |   |   | Total Shareholders’ Equity |                            |
|------------------------------------------------------------|--------|-------------------------------------|-----------|--------|--------------|--------|---------|----------------------------------------|--------|--------|---------------------------------|--------|--------|----------------------------------|---------------------------------|
|                                                       |   |                                |      |   |         |   |    |                                   |   |   |                            |   |   |                             |                            |
| BALANCE—January 1, 2009                              |   |                                | 4,022,853 |   |         |   | 182,462 |                                   |   |   | 210                             |   |   |                             | (86,586                         | ) |   |   | 96,086 |   |
|                                                       |   |                                |      |   |         |   |    |                                   |   |   |                            |   |   |                             |                            |   |   |   |   |   |
| Comprehensive income:                                      |   |                                |      |   |         |   |    |                                   |   |   |                            |   |   |                             |                            |   |   |   |   |   |
| Net income                                                 |   |                                |      |   |         |   |    |                                   |   |   |                            |   |   |                             | 4,870                           |   |   |   | 4,870 |   |
| Net unrealized loss on beneficial interest in Master Trust |   |                                |      |   |         |   |    |                                   |   |   | (326                            | )      |   |                             |                            |   |   |   | (326 | ) |
| Tax effect of other comprehensive income                   |   |                                |      |   |         |   |    |                                   |   |   | 119                             |   |   |                             |                            |   |   |   | 119 |   |
|                                                       |   |                                |      |   |         |   |    |                                   |   |   |                            |   |   |                             |                            |   |   |   |   |   |
| Total comprehensive income                                 |   |                                |      |   |         |   |    |                                   |   |   |                            |   |   |                             |                            |   |   |   | 4,663 |   |
|                                                       |   |                                |      |   |         |   |    |                                   |   |   |                            |   |   |                             |                            |   |   |   |   |   |
| Common stock cash dividends                                |   |                                |      |   |         |   |    |                                   |   |   |                            |   |   |                             | (1,016                          | ) |   |   | (1,016 | ) |
| Common stock repurchased                                   |   |                                | (67,000   | )      |         |   | (746    | )                                      |   |   |                            |   |   |                             |                            |   |   |   | (746 | ) |
| Stock-based compensation expense                           |   |                                | 41,653    |   |         |   | 129     |                                   |   |   |        |   |   |                             |        |   |   |   | 129 |   |
|                                                       |   |                                |      |   |         |   |    |                                   |   |   |                            |   |   |                             |                            |   |   |   |   |   |
| BALANCE—December 31, 2009                            |   |                                | 3,997,506 |   |         |   | 181,845 |                                   |   |   | 3                               |   |   |                             | (82,732                         | ) |   |   | 99,116 |   |
|                                                       |   |                                |      |   |         |   |    |                                   |   |   |                            |   |   |                             |                            |   |   |   |   |   |
| Comprehensive income:                                      |   |                                |      |   |         |   |    |                                   |   |   |                            |   |   |                             |                            |   |   |   |   |   |
| Net income                                                 |   |                                |      |   |         |   |    |                                   |   |   |                            |   |   |                             | 7,079                           |   |   |   | 7,079 |   |
| Net unrealized loss on beneficial interest in Master Trust |   |                                |      |   |         |   |    |                                   |   |   | (4                              | )      |   |                             |                            |   |   |   | (4 | ) |
| Tax effect of other comprehensive income                   |   |                                |      |   |         |   |    |                                   |   |   | 1                               |   |   |                             |                            |   |   |   | 1 |   |
|                                                       |   |                                |      |   |         |   |    |                                   |   |   |                            |   |   |                             |                            |   |   |   |   |   |
| Total comprehensive income                                 |   |                                |      |   |         |   |    |                                   |   |   |                            |   |   |                             |                            |   |   |   | 7,076 |   |
|                                                       |   |                                |      |   |         |   |    |                                   |   |   |                            |   |   |                             |                            |   |   |   |   |   |
| Common stock cash dividends                                |   |                                |      |   |         |   |    |                                   |   |   |                            |   |   |                             | (18,721                         | ) |   |   | (18,721 | ) |
| Common stock repurchased                                   |   |                                | (314,950  | )      |         |   | (4,750  | )                                      |   |   |                            |   |   |                             |                            |   |   |   | (4,750 | ) |
| Stock-based compensation expense                           |   |                                | 24,203    |   |         |   | 308     |                                   |   |   |        |   |   |                             |        |   |   |   | 308 |   |
|                                                       |   |                                |      |   |         |   |    |                                   |   |   |                            |   |   |                             |                            |   |   |   |   |   |
| BALANCE—December 31, 2010                            |   |                                | 3,706,759 |   |         | $      | 177,403 |                                   |   | $      | -                               |   |   | $                                | (94,374                         | ) |   | $ | 83,029 |   |

----

|                                                                                        |   | Years Ended December 31, |    |
|---------------------------------------------------------------------------------------------|--------|--------------------------|---------|
|                                                                                        |   | 2010                     |    |   | 2009 |   |
| CASH FLOWS FROM OPERATING ACTIVITIES:                                                       |   |                     |    |   |   |   |
| Net income                                                                                  |   | $                        | 7,079   |   |   | $ | 4,870 |   |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: |   |                     |    |   |   |   |   |   |
| Accretion of other comprehensive income                                                     |   |                     | (5      | ) |   |   | (326 | ) |
| Accretion of securitization discount                                                        |   |                     | (1      | ) |   |   | (44 | ) |
| Provision for loan losses                                                                   |   |                     | 6,354   |   |   |   | 8,292 |   |
| Amortization and depreciation                                                               |   |                     | 379     |   |   |   | 438 |   |
| Amortization of discount and interest accrued on creditor notes payable                     |   |                     | 172     |   |   |   | 94 |   |
| Gain from disposition of equipment                                                          |   |                     | 7       |   |   |   | 5 |   |
| Deferred income taxes                                                                       |   |                     | 3,800   |   |   |   | 2,354 |   |
| Change in fair value of creditor notes payable                                              |   |                     | (179    | ) |   |   | (139 | ) |
| Stock based compensation expense                                                            |   |                     | 308     |   |   |   | 129 |   |
| Changes in assets and liabilities:                                                          |   |                     |    |   |   |   |   |   |
| Accrued interest receivable and other assets                                                |   |                     | (156    | ) |   |   | 104 |   |
| Other payables and accrued expenses                                                         |   |                     | 745     |   |   |   | (279 | ) |
| Net cash provided by operating activities                                                   |   |                     | 18,503  |   |   |   | 15,498 |   |
|                                                                                        |   |                     |    |   |   |   |   |   |
| CASH FLOWS FROM INVESTING ACTIVITIES:                                                       |   |                     |    |   |   |   |   |   |
| Purchase of finance receivables                                                             |   |                     | (67,178 | ) |   |   | (58,496 | ) |
| Collections on finance receivables                                                          |   |                     | 52,581  |   |   |   | 44,500 |   |
| Principal collections and recoveries on receivables held for investment                     |   |                     | 133     |   |   |   | 1,314 |   |
| Capital expenditures                                                                        |   |                     | (78     | ) |   |   | (84 | ) |
| Net cash used in investing activities                                                       |   |                     | (14,542 | ) |   |   | (12,766 | ) |
|                                                                                        |   |                     |    |   |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES:                                                       |   |                     |    |   |   |   |   |   |
| Common stock repurchased                                                                    |   |                     | (4,750  | ) |   |   | (746 | ) |
| Common stock cash dividend                                                                  |   |                     | (18,721 | ) |   |   | (1,016 | ) |
| Principal payments on creditor notes payable                                                |   |                     | -       |   |   |   | (76 | ) |
| Net borrowing (repayment) on line of credit                                                 |   |                     | 16,000  |   |   |   | (500 | ) |
| Net cash used in financing activities                                                       |   |                     | (7,471  | ) |   |   | (2,338 | ) |
|                                                                                        |   |                     |    |   |   |   |   |   |
| INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS                                            |   |                     | (3,510  | ) |   |   | 394 |   |
| CASH AND CASH EQUIVALENTS—Beginning of year                                           |   |                     | 6,797   |   |   |   | 6,403 |   |
| CASH AND CASH EQUIVALENTS—End of period                                               |   | $                        | 3,287   |   |   | $ | 6,797 |   |
|                                                                                        |   |                     |    |   |   |   |   |   |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:                                          |   |                     |    |   |   |   |   |   |
| Income tax paid                                                                             |   | $                        | 394     |   |   | $ | 298 |   |
| Interest paid                                                                               |   | $                        | 1,297   |   |   | $ | 1,468 |   |

----

| 1. | GENERAL DISCUSSION |
|----|--------------------|

|   |                              |   | December 31, 2010 |   |   | December 31, 2009                                   |   |
|--------|-----------------------------------|--------|-------------------|--------|--------|-----------------------------------------------------|--------|
|   |                              |   | Carrying Value    |   |   | Contractual Remaining Debt Not Owned by White River |   |   | Total Contractual Remaining Debt |   |   | Carrying Value |   |   | Contractual Remaining Debt Not Owned by White River |   |   | Total Contractual Remaining Debt |   |
|   | Restructured debt:                |   |              |   |   |                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | Class 2A general unsecured claims |   | $                 | -      |   |                                                | $      | - |   |   | $ | 10 |   |   | $ | - |   |   | $ | - |   |   | $ | 10 |   |
|   | Restructured subordinated notes   |   |              | -      |   |                                                |   | 1,541 |   |   |   | 14,176 |   |   |   | 7 |   |   |   | 1,541 |   |   |   | 14,176 |   |
|   | Senior accrual notes              |   |              | -      |   |                                                |   | - |   |   |   | 4,106 |   |   |   | - |   |   |   | - |   |   |   | 4,106 |   |
|   | Subordinated accrual notes        |   |              | -      |   |                                                |   | 431 |   |   |   | 3,964 |   |   |   | - |   |   |   | 431 |   |   |   | 3,964 |   |
|   |                              |   |              |   |   |                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | Total creditor notes payable      |   | $                 | -      |   |                                                | $      | 1,972 |   |   | $ | 22,256 |   |   | $ | 7 |   |   | $ | 1,972 |   |   | $ | 22,256 |   |

----

| 2. | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
|----|--------------------------------------------|

----

----

----

|   |                              |   | Contractual Interest Rate |   |
|--------|-----------------------------------|--------|---------------------------|--------|
|   | Restructured debt:                |   |                      |   |   |
|   | Class 2A general unsecured claims |   | 8.00                      | %      |   |
|   | Restructured senior notes         |   | 8.00                      | %      |   |
|   | Restructured subordinated notes   |   | 10.00                     | %      |   |
|   | Senior accrual notes              |   | 4.75                      | %      |   |
|   | Subordinated accrual notes        |   | 4.75                      | %      |   |

----

| 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. |
|--------------------|----------------------------------------------------------------------------------|

|   |                                                                              |   | December 31, |    |
|--------|-----------------------------------------------------------------------------------|--------|--------------|---------|
|   |                                                                              |   | 2010         |    |   | 2009 |   |
|   | Finance receivables, gross                                                        |   | $            | 119,788 |   |   | $ | 110,847 |   |
|   | Unearned finance charge income                                                    |   |         | (1,951  | ) |   |   | (2,171 | ) |
|   | Finance receivables, net of unearned finance charge income                        |   |         | 117,837 |   |   |   | 108,676 |   |
|   |                                                                              |   |         |    |   |   |   |   |   |
|   | Accretable unearned acquisition discounts and fees                                |   |         | (12,961 | ) |   |   | (12,039 | ) |
|   | Finance receivables, net of unearned finance charge income and discounts and fees |   |         | 104,876 |   |   |   | 96,637 |   |
|   |                                                                              |   |         |    |   |   |   |   |   |
|   | Allowance for loan losses                                                         |   |         | (8,153  | ) |   |   | (8,085 | ) |
|   |                                                                              |   |         |    |   |   |   |   |   |
|   | Finance receivables - net                                                         |   | $            | 96,723  |   |   | $ | 88,552 |   |

----

|   |                             |   | Years Ended December 31, |   |
|--------|----------------------------------|--------|--------------------------|--------|
|   |                             |   | 2010                     |   |   | 2009 |   |
|   |                             |   |                     |   |   |   |   |   |   |
|   | Balance at beginning of period   |   | $                        | 8,085  |   |   | $ | 7,560 |   |
|   | Charge-offs                      |   |                     | (8,488 | ) |   |   | (9,996 | ) |
|   | Recoveries                       |   |                     | 2,130  |   |   |   | 1,950 |   |
|   | Provision for loan losses        |   |                     | 6,426  |   |   |   | 8,571 |   |
|   |                             |   |                     |   |   |   |   |   |   |
|   | Balance at the end of the period |   | $                        | 8,153  |   |   | $ | 8,085 |   |

|   |                                |   | December 31, |    |
|--------|-------------------------------------|--------|--------------|---------|
|   |                                |   | 2010         |    |   | 2009 |   |
|   |                                |   | $            |    |   | % |   |   | $ |   |   | % |   |
|   |                                |   |         |    |   |   |   |   |   |   |   |   |   |
|   | Finance receivables - gross balance |   | $            | 119,789 |   |   |   |   |   | $ | 110,847 |   |   |   |   |
|   |                                |   |         |    |   |   |   |   |   |   |   |   |   |   |   |
|   | Delinquencies:                      |   |         |    |   |   |   |   |   |   |   |   |   |   |   |
|   | 30-59 days                          |   | $            | 1,209   |   |   |   | 1.0 | % |   | $ | 1,301 |   |   |   | 1.2 | % |
|   | 60-89 days                          |   |         | 538     |   |   |   | 0.4 | % |   |   | 1,107 |   |   |   | 1.0 | % |
|   | 90+ days                            |   |         | 354     |   |   |   | 0.3 | % |   |   | 1,706 |   |   |   | 1.5 | % |
|   | Total delinquencies                 |   | $            | 2,101   |   |   |   | 1.8 | % |   | $ | 4,114 |   |   |   | 3.7 | % |

|   |                                     |   | December 31, |   |
|--------|------------------------------------------|--------|--------------|--------|
|   |                                     |   | 2010         |   |   | 2009 |   |
|   | Principal balance of finance receivables |   | $            | -      |   |   | $ | 61 |   |
|   | Unearned discount                        |   |         | -      |   |   |   | (1 | ) |
|   | Accrued interest receivable              |   |         | -      |   |   |   | - |   |
|   | Allowance for loan losses                |   |         | -      |   |   |   | - |   |
|   |                                     |   |         |   |   |   |   |   |   |
|   | Finance receivables—net            |   | $            | -      |   |   | $ | 60 |   |

----

|   |                                 |   | Years Ended December 31, |   |
|--------|--------------------------------------|--------|--------------------------|--------|
|   |                                 |   | 2010                     |   |   | 2009 |   |
|   |                                 |   |                     |   |   |   |   |
|   | Balance at the beginning of period   |   | $                        | -      |   |   | $ | 7 |   |
|   | Charge-offs                          |   |                     | (25    | ) |   |   | (135 | ) |
|   | Recoveries                           |   |                     | 97     |   |   |   | 407 |   |
|   | Provision (recovery) for loan losses |   |                     | (72    | ) |   |   | (279 | ) |
|   |                                 |   |                     |   |   |   |   |   |   |
|   | Balance at the end of the period     |   | $                        | -      |   |   | $ | - |   |

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

|   |                                                |   | December 31, |   |
|--------|-----------------------------------------------------|--------|--------------|--------|
|   |                                                |   | 2010         |   |   | 2009 |   |
|   | Prepaid expenses                                    |   | $            | 337    |   |   | $ | 389 |   |
|   | Property, equipment and leasehold improvements, net |   |         | 335    |   |   |   | 441 |   |
|   | Other                                               |   |         | 12     |   |   |   | 6 |   |
|   | Total other assets                                  |   | $            | 684    |   |   | $ | 836 |   |

| 5. | CREDITOR NOTES PAYABLE |
|----|------------------------|

|   |                                                                                 |   | Years Ended December 31, |   |
|--------|--------------------------------------------------------------------------------------|--------|--------------------------|--------|
|   |                                                                                 |   | 2010                     |   |   | 2009 |   |
|   | Beginning balance                                                                    |   | $                        | 7      |   |   | $ | 128 |   |
|   | Total (income) losses included in earnings (recorded as "other revenues (expenses)") |   |                     | (179   | ) |   |   | (139 | ) |
|   | Purchases, issuances and settlements                                                 |   |                     | 172    |   |   |   | 18 |   |
|   | Ending balance                                                                       |   | $                        | -      |   |   | $ | 7 |   |

----

| 6. | LINE OF CREDIT |
|----|----------------|

| 7. | SELECT OBLIGATIONS SCHEDULE |
|----|-----------------------------|

|   | Contractual Obligations     |   | Total  |   |   | 2011   |   |   | 2012   |   |   | 2013   |   |
|--------|-----------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|   | Long-term debt obligations  |   |   |   |   |   |   |   |   |   |   |   |   |
|   | Coastal Credit              |   | $      | 56,000 |   |   | $      | 56,000 |   |   | $      | -      |   |   | $ | - |   |
|   | Operating lease obligations |   |   | 1,005  |   |   |   | 549    |   |   |   | 383    |   |   |   | 73 |   |
|   |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|   | Total                       |   | $      | 57,005 |   |   | $      | 56,549 |   |   | $      | 383    |   |   | $ | 73 |   |

----

|   |                                                               |   | Years Ended December 31, |   |
|--------|--------------------------------------------------------------------|--------|--------------------------|--------|
|   |                                                               |   | 2010                     |   |   | 2009 |   |
|   |                                                               |   |                     |   |   |   |   |
|   | UAC discount accretion from accumulated other comprehensive income |   | $                        | 5      |   |   | $ | 326 |   |
|   | Interest on cash balances                                          |   |                     | 10     |   |   |   | 35 |   |
|   |                                                               |   |                     |   |   |   |   |   |   |
|   | Accretion and other interest income                                |   | $                        | 15     |   |   | $ | 361 |   |

| 9. | RELATED PARTY TRANSACTIONS |
|----|----------------------------|

| 10. | INCOME TAXES |
|-----|--------------|

----

|   |                                    |   | 2010   |   |   | 2009   |   |
|--------|-----------------------------------------|--------|--------|--------|--------|--------|--------|
|   |                                    |   |   |   |   |   |   |
|   | Current tax expense                     |   | $      | 538    |   |   | $      | 425 |   |
|   | Deferred tax expense (benefit)          |   |   | 3,967  |   |   |   | 2,243 |   |
|   | Valuation allowance increase (reversal) |   |   | (170   | )      |   |   | 12 |   |
|   |                                    |   |   |   |   |   |   |   |   |
|   | Net income tax expense (benefit)        |   | $      | 4,335  |   |   | $      | 2,680 |   |

|   |                          |   | 2010   |   |   | 2009   |   |
|--------|-------------------------------|--------|--------|--------|--------|--------|--------|
|   |                          |   |   |   |   |   |   |
|   | Statutory rate                |   |   | 35.0   | %      |   |   | 35.0 | % |
|   | State income taxes            |   |   | 1.5    |   |   |   | 1.5 |   |
|   | Valuation allowance and other |   |   | 1.5    |   |   |   | (1.0 | ) |
|   |                          |   |   |   |   |   |   |   |   |
|   | Effective rate                |   |   | 38.0   | %      |   |   | 35.5 | % |

----

|   |                                        |   | 2010   |   |   | 2009   |   |
|--------|---------------------------------------------|--------|--------|--------|--------|--------|--------|
|   | Deferred tax assets:                        |   |   |   |   |   |   |
|   | Net operating loss carryforward             |   | $      | 30,845 |   |   | $      | 34,283 |   |
|   | AMT credit carryforward                     |   |   | 1,295  |   |   |   | 1,138 |   |
|   | Basis difference in goodwill                |   |   | 7,639  |   |   |   | 8,358 |   |
|   | Allowance for loan losses                   |   |   | 2,951  |   |   |   | 2,926 |   |
|   | Other                                       |   |   | 208    |   |   |   | 139 |   |
|   | Total deferred tax assets                   |   |   | 42,938 |   |   |   | 46,844 |   |
|   | Valuation allowance                         |   |   | (877   | )      |   |   | (1,047 | ) |
|   |                                        |   |   | 42,061 |   |   |   | 45,797 |   |
|   |                                        |   |   |   |   |   |   |   |   |
|   | Deferred tax liabilities:                   |   |   |   |   |   |   |   |   |
|   | Basis difference in creditor notes payable  |   |   | 827    |   |   |   | 769 |   |
|   | Straight line vs. actuarial discount earned |   |   | 211    |   |   |   | 155 |   |
|   | Other                                       |   |   | 109    |   |   |   | 162 |   |
|   | Total deferred tax liabilities              |   |   | 1,147  |   |   |   | 1,086 |   |
|   |                                        |   |   |   |   |   |   |   |   |
|   | Net deferred tax assets                     |   | $      | 40,914 |   |   | $      | 44,711 |   |

| 11. | STOCK-BASED COMPENSATION |
|-----|--------------------------|

----

|   |                       |   | 2010   |   |   | 2009                                   |   |
|--------|----------------------------|--------|--------|--------|--------|----------------------------------------|--------|
|   | Restricted Stock Awards    |   | Shares |   |   | Weighted Average Grant Date Fair Value |   |   | Shares |   |   | Weighted Average Grant Date Fair Value |   |
|   |                       |   |   |   |   |                                   |   |   |   |   |   |   |   |
|   | Beginning nonvested awards |   |   | 4,400  |   |                                   | $      | 7.96 |   |   |   | 21,400 |   |   | $ | 14.99 |   |
|   | Granted                    |   |   | -      |   |                                   |   | - |   |   |   | 6,500 |   |   |   | 6.90 |   |
|   | Vested                     |   |   | (2,400 | )      |                                   |   | 9.23 |   |   |   | (23,000 | ) |   |   | 14.58 |   |
|   | Forfeited                  |   |   | -      |   |                                   |   | - |   |   |   | (500 | ) |   |   | 23.10 |   |
|   | Ending nonvested awards    |   |   | 2,000  |   |                                   | $      | 6.45 |   |   |   | 4,400 |   |   | $ | 7.96 |   |

----

|   | For The Year Ended December 31, 2010                                     |   | UAC    |   |   | Coastal Credit |   |    | Corporate and Other |   |   | Consolidated |   |
|--------|--------------------------------------------------------------------------|--------|--------|--------|--------|----------------|--------|---------|---------------------|--------|--------|--------------|--------|
|   |                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |
|   | Total interest income                                                    |   | $      | 7      |   |           | $      | 32,808  |                |   | $      | 10           |   |   | $ | 32,825 |   |
|   |                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
|   | Interest expense                                                         |   |   | (174   | )      |           |   | (1,318  | )                   |   |   | -            |   |   |   | (1,492 | ) |
|   |                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
|   | Net interest margin                                                      |   |   | (167   | )      |           |   | 31,490  |                |   |   | 10           |   |   |   | 31,333 |   |
|   |                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
|   | Recovery (provision) for loan losses                                     |   |   | 72     |   |           |   | (6,426  | )                   |   |   | -            |   |   |   | (6,354 | ) |
|   |                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
|   | Net interest margin (deficit) after recovery (provision) for loan losses |   |   | (95    | )      |           |   | 25,064  |                |   |   | 10           |   |   |   | 24,979 |   |
|   |                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
|   | Total other expenses                                                     |   |   | (61    | )      |           |   | (11,654 | )                   |   |   | (1,850       | )      |   |   | (13,565 | ) |
|   |                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
|   | Income (loss) before income taxes                                        |   |   | (156   | )      |           |   | 13,410  |                |   |   | (1,840       | )      |   |   | 11,414 |   |
|   |                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
|   | Income tax expense                                                       |   |   | -      |   |           |   | -       |                |   |   | (4,335       | )      |   |   | (4,335 | ) |
|   |                                                                     |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
|   | Net income (loss)                                                        |   | $      | (156   | )      |           | $      | 13,410  |                |   | $      | (6,175       | )      |   | $ | 7,079 |   |

|   | For The Year Ended December 31, 2009                           |   | UAC    |   |   | Coastal Credit |   |    | Corporate and Other |   |   | Consolidated |   |
|--------|----------------------------------------------------------------|--------|--------|--------|--------|----------------|--------|---------|---------------------|--------|--------|--------------|--------|
|   |                                                           |   |   |   |   |           |   |    |                |   |   |         |   |
|   | Total interest income                                          |   | $      | 414    |   |           | $      | 30,904  |                |   | $      | 34           |   |   | $ | 31,352 |   |
|   |                                                           |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
|   | Interest expense                                               |   |   | (174   | )      |           |   | (1,332  | )                   |   |   | -            |   |   |   | (1,506 | ) |
|   |                                                           |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
|   | Net interest margin                                            |   |   | 240    |   |           |   | 29,572  |                |   |   | 34           |   |   |   | 29,846 |   |
|   |                                                           |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
|   | Recovery (provision) for loan losses                           |   |   | 279    |   |           |   | (8,571  | )                   |   |   | -            |   |   |   | (8,292 | ) |
|   |                                                           |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
|   | Net interest margin after recovery (provision) for loan losses |   |   | 519    |   |           |   | 21,001  |                |   |   | 34           |   |   |   | 21,554 |   |
|   |                                                           |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
|   | Total other expenses                                           |   |   | (1,372 | )      |           |   | (11,332 | )                   |   |   | (1,300       | )      |   |   | (14,004 | ) |
|   |                                                           |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
|   | Income (loss) before income taxes                              |   |   | (853   | )      |           |   | 9,669   |                |   |   | (1,266       | )      |   |   | 7,550 |   |
|   |                                                           |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
|   | Income tax expense                                             |   |   | -      |   |           |   | -       |                |   |   | (2,680       | )      |   |   | (2,680 | ) |
|   |                                                           |   |   |   |   |           |   |    |                |   |   |         |   |   |   |   |   |
|   | Net income (loss)                                              |   | $      | (853   | )      |           | $      | 9,669   |                |   | $      | (3,946       | )      |   | $ | 4,870 |   |

|   |                |   | December 31, |    |
|--------|---------------------|--------|--------------|---------|
|   |                |   | 2010         |    |   | 2009 |   |
|   |                |   |         |    |   |   |   |
|   | Corporate and other |   | $            | 41,511  |   |   | $ | 47,842 |   |
|   | Coastal Credit      |   |         | 100,009 |   |   |   | 92,848 |   |
|   | UAC                 |   |         | 88      |   |   |   | 266 |   |
|   |                |   |         |    |   |   |   |   |   |
|   |                |   | $            | 141,608 |   |   | $ | 140,956 |   |

----

|   |                                                   |   | Years Ended December 31, |      |
|--------|--------------------------------------------------------|--------|--------------------------|-----------|
|   |                                                   |   | 2010                     |      |   | 2009 |   |
|   |                                                   |   |                     |      |   |   |   |
|   | Net income                                             |   | $                        | 7,079     |   |   | $ | 4,870 |   |
|   |                                                   |   |                     |      |   |   |   |   |   |
|   | Weighted average shares outstanding                    |   |                     | 3,838,894 |   |   |   | 4,056,088 |   |
|   |                                                   |   |                     |      |   |   |   |   |   |
|   | Incremental shares from assumed conversions:           |   |                     |      |   |   |   |   |   |
|   | Stock award plans                                      |   |                     | 324       |   |   |   | 1,884 |   |
|   |                                                   |   |                     |      |   |   |   |   |   |
|   | Weighted average shares and assumed incremental shares |   |                     | 3,839,218 |   |   |   | 4,057,972 |   |
|   |                                                   |   |                     |      |   |   |   |   |   |
|   | Earnings per share:                                    |   |                     |      |   |   |   |   |   |
|   |                                                   |   |                     |      |   |   |   |   |   |
|   | Basic                                                  |   | $                        | 1.84      |   |   | $ | 1.20 |   |
|   |                                                   |   |                     |      |   |   |   |   |   |
|   | Diluted                                                |   | $                        | 1.84      |   |   | $ | 1.20 |   |

----

|   | 14. | QUARTERLY FINANCIAL DATA (UNAUDITED) |
|--------|-----|--------------------------------------|

|   | Fiscal Year Ended December 31, 2010 |   | First Quarter |      |   | Second Quarter |   |      | Third Quarter |   |   | Fourth Quarter |   |
|--------|-------------------------------------|--------|---------------|-----------|--------|----------------|--------|-----------|---------------|--------|--------|----------------|--------|
|   | Total interest income               |   | $             | 7,865     |   |           | $      | 8,100     |          |   | $      | 8,383          |   |   | $ | 8,477 |   |
|   |                                |   |          |      |   |           |   |      |          |   |   |           |   |   |   |   |   |
|   | Net interest margin                 |   | $             | 7,517     |   |           | $      | 7,732     |          |   | $      | 8,001          |   |   | $ | 8,083 |   |
|   |                                |   |          |      |   |           |   |      |          |   |   |           |   |   |   |   |   |
|   | Other revenue (expense)             |   | $             | (3,610    | )      |           | $      | (3,072    | )             |   | $      | (3,259         | )      |   | $ | (3,624 | ) |
|   |                                |   |          |      |   |           |   |      |          |   |   |           |   |   |   |   |   |
|   | Net income (loss)                   |   | $             | 1,347     |   |           | $      | 1,977     |          |   | $      | 1,791          |   |   | $ | 1,964 |   |
|   |                                |   |          |      |   |           |   |      |          |   |   |           |   |   |   |   |   |
|   | Basic earnings per share            |   | $             | 0.34      |   |           | $      | 0.51      |          |   | $      | 0.48           |   |   | $ | 0.51 |   |
|   |                                |   |          |      |   |           |   |      |          |   |   |           |   |   |   |   |   |
|   | Diluted earnings per share          |   | $             | 0.34      |   |           | $      | 0.51      |          |   | $      | 0.48           |   |   | $ | 0.51 |   |
|   |                                |   |          |      |   |           |   |      |          |   |   |           |   |   |   |   |   |
|   | Basic weighted average shares       |   |          | 3,974,897 |   |           |   | 3,884,603 |          |   |   | 3,756,059      |   |   |   | 3,743,472 |   |
|   |                                |   |          |      |   |           |   |      |          |   |   |           |   |   |   |   |   |
|   | Diluted weighted average shares     |   |          | 3,976,198 |   |           |   | 3,886,515 |          |   |   | 3,758,098      |   |   |   | 3,744,330 |   |
|   |                                |   |          |      |   |           |   |      |          |   |   |           |   |   |   |   |   |
|   | Fiscal Year Ended December 31, 2009 |   |          |      |   |           |   |      |          |   |   |           |   |   |   |   |   |
|   | Total interest income               |   | $             | 7,661     |   |           | $      | 7,824     |          |   | $      | 7,940          |   |   | $ | 7,927 |   |
|   |                                |   |          |      |   |           |   |      |          |   |   |           |   |   |   |   |   |
|   | Net interest margin                 |   | $             | 7,280     |   |           | $      | 7,435     |          |   | $      | 7,565          |   |   | $ | 7,566 |   |
|   |                                |   |          |      |   |           |   |      |          |   |   |           |   |   |   |   |   |
|   | Other revenue (expense)             |   | $             | (3,424    | )      |           | $      | (3,824    | )             |   | $      | (3,500         | )      |   | $ | (3,256 | ) |
|   |                                |   |          |      |   |           |   |      |          |   |   |           |   |   |   |   |   |
|   | Net income (loss)                   |   | $             | 1,274     |   |           | $      | 1,010     |          |   | $      | 1,259          |   |   | $ | 1,327 |   |
|   |                                |   |          |      |   |           |   |      |          |   |   |           |   |   |   |   |   |
|   | Basic earnings per share            |   | $             | 0.31      |   |           | $      | 0.25      |          |   | $      | 0.31           |   |   | $ | 0.33 |   |
|   |                                |   |          |      |   |           |   |      |          |   |   |           |   |   |   |   |   |
|   | Diluted earnings per share          |   | $             | 0.31      |   |           | $      | 0.25      |          |   | $      | 0.31           |   |   | $ | 0.33 |   |
|   |                                |   |          |      |   |           |   |      |          |   |   |           |   |   |   |   |   |
|   | Basic weighted average shares       |   |          | 4,046,568 |   |           |   | 4,061,386 |          |   |   | 4,062,129      |   |   |   | 4,054,122 |   |
|   |                                |   |          |      |   |           |   |      |          |   |   |           |   |   |   |   |   |
|   | Diluted weighted average shares     |   |          | 4,050,060 |   |           |   | 4,062,452 |          |   |   | 4,064,591      |   |   |   | 4,055,126 |   |

| 15. | ESTIMATED FAIR VALUE OF FINANCIAL INSTRUMENTS |
|-----|-----------------------------------------------|

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| 16. | COMMITMENTS AND CONTINGENCIES |
|-----|-------------------------------|

|   | Year   |   | Total                  |   |
|--------|--------|--------|------------------------|--------|
|   |   |   |                   |   |
|   | 2011   |   | $  549            |   |
|   | 2012   |   | $  383            |   |
|   | 2013   |   | $    73 |   |

| 17. | 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, 2010 - March 31, 2010    |   |                             | 96,400  |   |                         | $      | 12.80  |                                                                             |   |   | 96,400                                                               |   |   |   | 336,600 |   |
| April 1, 2010 - June 30, 2010       |   |                             | 150,350 |   |                         | $      | 14.60  |                                                                             |   |   | 150,350                                                              |   |   |   | 186,250 |   |
| July 1, 2010 - September 30, 2010   |   |                             | 18,200  |   |                         | $      | 14.03  |                                                                             |   |   | 18,200                                                               |   |   |   | 168,050 |   |
| October 1, 2010 - December 31, 2010 |   |                             | 50,000  |   |                         | $      | 21.10  |                                                                             |   |   | 50,000                                                               |   |   |   | 118,050 |   |
|                                |   |                             | 314,950 |   |                         | $      | 15.04  |                                                                             |   |   | 314,950                                                              |   |   |   |   |   |

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|   | · | the repeal by the Internal Revenue Service of the NOL carryforward limitations in the Code if White River’s board of directors determines the transfer restrictions are no longer necessary for the preservation of the tax benefits; and |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | the beginning of a taxable year of White River to which White River’s board determines that no tax benefits may be carried forward. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | would create a new “public group” of White River. For example, the transfer of stock by an existing 5-percent shareholder to the public would be deemed to result in the creation of a separate, segregated “public group” that would be a new 5-percent shareholder; |
|--------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | would give rise to a “prohibited ownership percentage,” which is defined by reference to complex federal tax laws and regulations, but generally means any direct or indirect ownership that would cause any person, including a “public group” as defined in the NOL carryforward limitations, to be considered a 5-percent shareholder of White River. By way of example, if shareholder A owns 4% of White River’s outstanding shares of common stock, and shareholder B attempted to sell 2% of White River’s outstanding shares to shareholder A, the transfer restrictions would prohibit the sale of approximately 1.1% of the shares out of the 2% attempted to be sold; or |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | would increase the ownership percentage of any person, including a public group that is already a 5-percent shareholder of White River. Therefore, no shareholder will be permitted to sell any shares to 5-percent holders or their affiliates without board approval. |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 19. | SUBSEQUENT EVENTS |
|-----|-------------------|

----

----

----

| Equity Compensation Plan Information                       |   |
|------------------------------------------------------------|--------|
| Plan Category                                              |   | Number of securities to be issued upon exercise of outstanding options, warrants and rights |   |   | Weighted average exercise price of outstanding options, warrants and rights |   |   | Number of securities remaining available for future issuance |   |
| Equity compensation plans approved by security holders     |   |   | 2,000 | 1 |   | $ | 0.00 |   |   |   | 219,446 | 2 |
| Equity compensation plans not approved by security holders |   |   | 0 |   |   |   | 0 |   |   |   | 0 |   |
| Total                                                      |   |   | 2,000 | 1 |   | $ | 0.00 |   |   |   | 219,446 | 2 |

|  1 |  Includes 2,000 shares issuable pursuant to outstanding performance awards under the 2005 Stock Incentive Plan. |
|---------|----------------------------------------------------------------------------------------------------------------------|

| 2 | Includes 167,980 shares issuable pursuant to the 2005 Stock Incentive Plan in the form of stock options, restricted stock awards, or performance stock awards, and 51,466 shares issuable pursuant to the 2005 Directors Stock Compensation Plan. |
|---|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

----

----

|   | 2.1    | Agreement and Plan of Merger between White River Capital, Inc. and First Chicago Bancorp dated as of June 27, 2008 (incorporated by reference to Exhibit 2.1 of registrant’s Form 8-K filed July 2, 2008)                                                                                                                                                                                                                                                                                                                                                                                                     |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | 3.1(a) | Articles of Incorporation of White River Capital, Inc. (incorporated by reference to Exhibit 3.1 of registrant’s Registration Statement on Form S-1/S-4 (Reg. No. 333-123909))                                                                                                                                                                                                                                                                                                                                                                                                                                |
|   | 3.1(a) | Articles of Amendment to White River Capital’s Articles of Incorporation, effective May 22, 2009 (incorporated by reference to Exhibit 3.1 of the registant’s Form 8-K filed May 26, 2009)                                                                                                                                                                                                                                                                                                                                                                                                              |
|   | 3.2    | Code of By-Laws of White River Capital, Inc. (amended as of July 24, 2009) (incorporated by reference to Exhibit 3.1 of the registrant’s Form 8-K filed July 28, 2009)                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   | 4.1    | Form of common stock certificate of registrant (incorporated by reference to Exhibit 4.1 of registrant’s Registration Statement on Form S-1/S-4 (Reg. No. 333-123909))                                                                                                                                                                                                                                                                                                                                                                                                                                        |
|   | 4.2    | Article 5 – “Number of Shares,” Article 6 – “Terms of Shares,” Article 10 – “Transfer and Ownership Restrictions” and Article 11 – “Miscellaneous Provisions”  (concerning the applicability of the Indiana Control Share Acquisitions Chapter and the Indiana Business Combinations Chapter) of registrant’s Articles of Incorporation (incorporated by reference to registrant’s Articles of Incorporation filed as Exhibit 3.1 of registrant’s Registration Statement on Form S-1/S-4 (Reg. No. 333-123909)) |
|   | 4.3    | Article III – “Shareholder Meetings,” Article VI – “Certificates for Shares” and Article VII, Section 3 – “Corporate Books and Records” of registrant’s Code of By-laws (incorporated by reference to registrant’s Code of By-Laws filed as Exhibit 3.1 of the registrant’s Form 8-K filed July 28, 2009)                                                                                                                                                                                                                                   |
|   | 4.4    | Second Amended and Restated Plan of Reorganization of Union Acceptance Corporation dated August 8, 2003 (incorporated by reference to Exhibit 4.6 of registrant’s Registration Statement on Form S-1/S-4 (Reg. No. 333-123909))                                                                                                                                                                                                                                                                                                                                                                               |
|   | 4.5(a) | Amended Finance Agreement dated April 16, 2001, between Coastal Credit, LLC and Wells Fargo Financial Preferred Capital, Inc. (incorporated by reference to Exhibit 4.8(a) of registrant’s Registration Statement on Form S-1/S-4 (Reg. No. 333-123909))                                                                                                                                                                                                                                                                                                                                                      |
|   | 4.5(b) | First Amendment to Finance Agreement dated March 22, 2004, between Coastal Credit, LLC and Wells Fargo Financial Preferred Capital, Inc. (incorporated by reference to Exhibit 4.8(b) of registrant’s Registration Statement on Form S-1/S-4 (Reg. No. 333-123909))                                                                                                                                                                                                                                                                                                                                           |

----

|   | 4.5(c)  | Second Amendment to Finance Agreement, dated August 24, 2005, between Coastal Credit LLC and Wells Fargo Financial Preferred Capital, Inc. (including replacement Promissory Note and White River Capital Inc. Guaranty) (incorporated by reference to Exhibit 4.1 of registrant’s Form 8-K filed September 2, 2005)                    |
|--------|---------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   | 4.5(d)  | Third Amendment to Finance Agreement, dated January 2, 2007, between Coastal Credit LLC and Wells Fargo Financial Preferred Capital, Inc. (incorporated by reference to Exhibit 4.8(d) of the registrant’s 2006 Annual Report on Form 10-K filed on March 16, 2007)                                                                               |
|   | 4.6     | Regulation S-K, Item 601(b)(4)(iii) undertaking to furnish debt instruments to the Commission upon request (incorporated by reference to Exhibit 4.9 of registrant’s Registration Statement on Form S-1/S-4 (Reg. No. 333-123909))                                                                                                                |
|   | 10.1    | Memorandum of Understanding dated February 15, 2005, among registrant, Union Acceptance Corporation and the Plan Committee under Union Acceptance Corporation’s Second Amended and Restated Plan of Reorganization (incorporated by reference to Exhibit 10.2 of registrant’s Registration Statement on Form S-1/S-4 (Reg. No. 333-123909)) |
|   | 10.2    | Summary of arrangement between Union Acceptance Corporation and Castle Creek Capital, LLC (incorporated by reference to Exhibit 10.5 of registrant’s Registration Statement on Form S-1/S-4 (Reg. No. 333-123909))                                                                                                                                |
|   | 10.3(a) | Amended and Restated Employment Agreement dated as of April 28, 2009 between White River Capital, Inc. and Mark R. Ruh (incorporated by reference to Exhibit 99.1 of registrant’s Form 8-K filed May 1, 2009)                                                                                                                                     |
|   | 10.3(b) | Release, Satisfaction, and Waiver Agreement dated August 31, 2009 between White River Capital, Inc. and Mark R. Ruh (incorporated by reference to Exhibit 99.1 of the registrant’s Form 8-K filed September 4, 2009)                                                                                                                              |
|   | 10.4    | Amended and Restated Employment Agreement dated as of April 28, 2009 between White River Capital, Inc. and Martin J. Szumski (incorporated by reference to Exhibit 99.2 of registrant’s Form 8-K filed May 1, 2009)                                                                                                                               |
|   | 10.5    | Employment Agreement dated May 18, 2009 (to be effective as of January 1, 2009), by and among Coastal Credit, LLC, White River Capital, Inc., and William E. McKnight (incorporated by reference to Exhibit 99.1 of registrant’s Form 8-K filed May 22, 2009)                                                                                     |
|   | 10.6    | White River Capital, Inc. 2005 Stock Incentive Plan (incorporated by reference to Exhibit 4.4 of registrant’s Form S-8 (File No. 333-130187))                                                                                                                                                                                                     |
|   | 10.7    | Expense Sharing Agreement, dated November 8, 2005, between White River Capital, Inc. and Castle Creek Capital, LLC and Castle Creek Advisors LLC (incorporated by reference to Exhibit 10.1 of registrant’s Form 10-Q for the period ended September 30, 2005)                                                                                    |
|   | 10.8    | White River Capital Inc. Directors Stock Compensation Plan, amended as of May 6, 2010 (incorporated by reference to Exhibit 10.1 of registrant’s Form 10-Q for the period ended March 31, 2010)                                                                                                                                                   |
|   | 14.1    | Code of Ethics                                                                                                                                                                                                                                                                                                                                          |
|   | 21.1    | Subsidiaries of White River Capital, Inc.                                                                                                                                                                                                                                                                                                               |
|   | 23.1    | Consent of McGladrey & Pullen LLP                                                                                                                                                                                                                                                                                                                   |
|   | 31.1    | Certification by Chief Executive Officer required by Rule 13a-14(a) or 15d-14(a) of the Exchange Act                                                                                                                                                                                                                                                    |
|   | 31.2    | Certification by Chief Financial Officer required by Rule 13a-14(a) or 15d-14(a) of the Exchange Act                                                                                                                                                                                                                                                    |
|   | 32.1    | Section 1350 Certifications                                                                                                                                                                                                                                                                                                                             |

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|          | White River Capital, Inc.(Registrant) |
|---------------|---------------------------------------|
|          |                                  |   |
|          |                                  |   |
| March 9, 2011 | By:                                   | /s/ Martin J. Szumski |
|          |                                  | Martin J. Szumski |
|          |                                  | Chief Financial Officer |
|          |                                  | (Signing on behalf of the registrant as Principal Financial Officer) |

| Signature                  |   | Position                                                                               |   | Date          |
|----------------------------|--------|----------------------------------------------------------------------------------------|--------|---------------|
|                       |   |                                                                                   |   |          |
| /s/ John M. Eggemeyer, III |   | Chairman and Chief Executive Officer, Director (Principal Executive Officer)           |   | March 9, 2011 |
| John M. Eggemeyer, III     |   |                                                                                   |   |          |
|                       |   |                                                                                   |   |          |
| /s/ Martin J. Szumski      |   | Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer) |   | March 9, 2011 |
| Martin J. Szumski          |   |                                                                                   |   |          |
|                       |   |                                                                                   |   |          |
| /s/ Thomas C. Heagy        |   | Director                                                                               |   | March 9, 2011 |
| Thomas C. Heagy            |   |                                                                                   |   |          |
|                       |   |                                                                                   |   |          |
| /s/ William E. McKnight    |   | Director                                                                               |   | March 9, 2011 |
| William E. McKnight        |   |                                                                                   |   |          |
|                       |   |                                                                                   |   |          |
| /s/ Daniel W. Porter       |   | Director                                                                               |   | March 9, 2011 |
| Daniel W. Porter           |   |                                                                                   |   |          |
|                       |   |                                                                                   |   |          |
| /s/ John W. Rose           |   | Director                                                                               |   | March 9, 2011 |
| John W. Rose               |   |                                                                                   |   |          |
|                       |   |                                                                                   |   |          |
| /s/ Richard D. Waterfield  |   | Director                                                                               |   | March 9, 2011 |
| Richard D. Waterfield      |   |                                                                                   |   |          |

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