Delaware
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72-0654145
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(State or other jurisdiction of
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(I.R.S. Employer
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incorporation or organization)
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Identification No.)
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One Crescent Drive, Suite 203, Navy Yard Corporate Center, Philadelphia, PA 19112
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(Address of principal executive offices) (Zip code)
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(215) 546-5005
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(Registrant's telephone number, including area code)
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Securities registered pursuant to Section 12(g) of the Act:
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Common stock, par value $.01 per share
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NASDAQ
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Title of class
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Name of exchange on which registered
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Large accelerated filer
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Accelerated filer
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þ | |
Non-accelerated filer
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o |
(Do not check if a smaller reporting company)
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Smaller reporting company
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o |
ITEM 15.
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EXHIBITS AND FINANCIAL STATEMENT SCHEDULES.
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1.
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Financial Statements
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Report of Independent Registered Public Accounting Firm
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Consolidated Balance Sheets at September 30, 2011 and 2010
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Consolidated Statements of Operations for the Years Ended September 30, 2011, 2010 and 2009
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Consolidated Statements of Changes in Equity for the Years Ended
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September 30, 2011, 2010 and 2009
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Consolidated Statements of Cash Flows for the Years Ended September 30, 2011, 2010 and 2009
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Notes to Consolidated Financial Statements − September 30, 2011
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2.
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Financial Statement Schedules
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Schedule II – Valuation and Qualifying Accounts
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Schedule III - Investments in Real Estate
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Schedule IV – Investments in Mortgage Loans on Real Estate
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3.
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Exhibits
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Exhibit No.
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Description
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3.1
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Restated Certificate of Incorporation of Resource America. (1)
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3.2
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Amended and Restated Bylaws of Resource America. (1)
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4.1
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Note Purchase Agreement (including the form of Senior Note and form of Warrant). (2)
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4.2
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Indenture between LEAF Funding SPE 1, LLC and U.S. Bank National Association, dated August 20, 2010. (3)
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4.2(a)
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Supplemental Indenture Number One, dated April 27, 2011, to the Indenture, dated as of December 5, 2010, by and among LEAF Capital Funding SPE A, LLC, as Issuer, U.S. Bank National Association, as Trustee and Custodian, and Guggenheim Securities, LLC, as Administrative Agent. (15)
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10.1(a)
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Loan and Security Agreement, dated May 24, 2007, between Resource America, Inc., Commerce Bank, N.A. and the other parties thereto. (4)
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10.1(b)
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First Amendment and Joinder to Loan and Security Agreement, dated July 18, 2007. (6)
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10.1(c)
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Second Amendment and Joinder to Loan and Security Agreement, dated November 15, 2007. (6)
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10.1(d)
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Third Amendment to Loan and Security Agreement, dated August 7, 2008, dated May 24, 2007, between Resource America, Inc., TD Bank, N.A. (successor by merger to Commerce Bank, N.A.) and the other parties hereto. (7)
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10.1(e)
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Fourth Amendment to Loan and Security Agreement, dated September 30, 2008, dated May 24, 2007, between Resource America, Inc., TD Bank, N.A. (successor by merger to Commerce Bank, N.A.) and the other parties hereto. (8)
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10.1(f)
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Fifth Amendment to Loan and Security Agreement, dated December 19, 2008, dated May 24, 2007, between Resource America, Inc., TD Bank, N.A. (successor by merger to Commerce Bank, N.A.) and the other parties hereto. (5)
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10.1(g)
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Sixth Amendment to Loan and Security Agreement, dated March 26, 2009, dated May 24, 2007, between Resource America, Inc., TD Bank, N.A. and the other parties hereto. (9)
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10.1(h)
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Seventh Amendment to Loan and Security Agreement, dated May 15, 2009, dated May 24, 2007, between Resource America, Inc., TD Bank, N.A. and the other parties hereto. (10)
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10.1(i)
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Eighth Amendment to Loan and Security Agreement, dated November 6, 2009, dated May 24, 2007, between Resource America, Inc., TD Bank, N.A. and the other parties hereto. (11)
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10.1(j)
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Ninth Amendment to Loan and Security Agreement, dated December 14, 2010, dated May 24, 2007, between Resource America, Inc., TD Bank, N.A. and the other parties hereto. (12)
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10.1(k)
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Amended and Restated Loan and Security Agreement, dated March 10, 2011, between Resource America, Inc. and TD Bank, N.A. (14)
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10.1(j)
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First Amendment to the Amended and Restated Loan and Security Agreement, dated as of November 29, 2011, between Resource America, Inc. and TD Bank, N.A. (17)
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10.2
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Amended and Restated Employment Agreement between Michael S. Yecies and Resource America, Inc., dated December 29, 2008. (9)
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10.3
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Amended and Restated Employment Agreement between Thomas C. Elliott and Resource America, Inc., dated December 29, 2008. (9)
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10.4
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Amended and Restated Employment Agreement between Jeffrey F. Brotman and Resource America, Inc., dated December 29, 2008. (9)
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10.5
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Amended and Restated Employment Agreement between Jonathan Z. Cohen and Resource America, Inc., dated December 29, 2008. (9)
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10.6
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Amended and Restated Employment Agreement between Steven J. Kessler and Resource America, Inc., dated December 29, 2008. (9)
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10.7
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Loan Agreement between and among Republic First Bank (d/b/a Republic Bank) and Resource Capital Investor, Inc. and Resource Properties XXX, Inc. (13)
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10.7(a)
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Loan Modification Agreement between and among Republic First Bank (d/b/a Republic Bank) and Resource Capital Investor, Inc. and Resource Properties XXX, Inc. (16)
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10.8
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Indenture between LEAF Receivables Funding 7, LLC and U.S. Bank National Association, dated as of September 7, 2011. **
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12.1
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Ratio of Earnings to Fixed Charges. **
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21.1
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Subsidiaries of Resource America, Inc. *
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23.1
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Consent of Grant Thornton LLP. **
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31.1
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Certification of Chief Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. *
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31.2
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Certification of Chief Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. *
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32.1
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Certification of Chief Executive Officer pursuant to Section 1350 18 U.S.C., as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. **
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32.2
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Certification of Chief Financial Officer pursuant to Section 1350 18 U.S.C., as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. **
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101
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Interactive Data Files **
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(1)
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Filed previously as an exhibit to our Quarterly Report on Form 10-Q for the quarter ended December 31, 1999 and by this reference incorporated herein.
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(2)
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Files previously as an exhibit to our Current Report on Form 8-K filed on October 1, 2009 and by this reference incorporated herein.
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(3)
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Filed previously as an exhibit to our Annual Report on Form 10-K for the fiscal year ended September 30, 2010 and by this reference incorporated herein.
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(4)
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Filed previously as an exhibit to our Current Report on Form 8-K filed on June 1, 2007 and by this reference incorporated herein.
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(5)
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Filed previously as an exhibit to our Current Report on Form 8-K filed on December 24, 2008 and by this reference incorporated herein.
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(6)
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Filed previously as an exhibit to our Annual Report on Form 10-K for the fiscal year ended September 30, 2007 and by this reference incorporated herein.
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(7)
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Filed previously as an exhibit to our Quarterly Report on Form 10-Q for the quarter ended June 30, 2008 and by this reference incorporated herein.
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(8)
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Filed previously as an exhibit to our Current Report on Form 8-K filed on October 6, 2008 and by this reference incorporated herein.
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(9)
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Filed previously as an exhibit to our Quarterly Report on Form 10-Q for the quarter ended December 31, 2008 and by this reference incorporated herein.
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(10)
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Filed previously as an exhibit to our Quarterly Report on Form 10-Q for the quarter ended March 31, 2009 and by this reference incorporated herein.
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(11)
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Filed previously as an exhibit to our Current Report on Form 8-K filed on November 9, 2009 and by this reference incorporated herein.
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(12)
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Filed previously as an exhibit to our Quarterly Report on Form 10-Q for the quarter ended December 31, 2010 and by this reference incorporated herein.
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(13)
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Filed previously as an exhibit to our Current Report on Form 8-K filed on March 3, 2011 and by this reference incorporated herein.
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(14)
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Filed previously as an exhibit to our Current Report on Form 8-K filed on March 15, 2011 and by this reference incorporated herein.
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(15)
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Filed previously as an exhibit to our Current Report on Form 8-K filed on May 3, 2011 and by this reference incorporated herein.
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(16)
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Filed previously as an exhibit to our Current Report on Form 8-K filed on September 28, 2011 and by this reference incorporated herein.
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(17)
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Filed previously as an exhibit to our Current Report on Form 8-K filed on December 2, 2011 and by this reference incorporated herein.
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RESOURCE AMERICA, INC.
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December 16, 2011
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By: /s/ Thomas C. Elliott
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THOMAS C. ELLIOTT
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Senior Vice President and Chief Financial Officer
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NAME OF SUBSIDIARIES
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STATE OF INCORPORATION
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Resource Financial Fund Management, Inc.
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Delaware
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|||
Resource Income Advisors, Inc.
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Delaware
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Torsion Capital, Inc.
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Delaware
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|||
Torsion Advisors, Inc.
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Delaware
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Trapeza Capital Management, LLC
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Delaware
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Trapeza Manager, Inc.
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Delaware
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Trapeza Funding, LLC
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Delaware
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Trapeza Funding II, LLC
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Delaware
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Trapeza Funding III, LLC
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Delaware
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Trapeza Funding IV, LLC
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Delaware
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Trapeza Funding V, LLC
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Delaware
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Trapeza TPS, LLC
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Delaware
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Trapeza Management Group, LLC
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Delaware
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Ischus Capital Management, LLC
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Delaware
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|||
Apidos Capital Management, LLC
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Delaware
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Apidos Select Corporate Credit Fund GP, LLC
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Delaware
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|||
Apidos Partners, Inc.
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Delaware
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|||
Resource Financial Institutions Group, Inc.
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Delaware
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|||
Resource Capital Manager, Inc.
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Delaware
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|||
RAI Ventures, Inc.
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Delaware
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|||
Resource Securities, Inc. (f/k/a Chadwick Securities, Inc.)
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Delaware
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|||
Resource Europe Management Limited
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United Kingdom
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Resource Capital Markets, Inc.
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Delaware
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Resource Capital Investor, Inc.
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Delaware
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Resource Leasing, Inc.
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Delaware
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FLI Holdings, Inc.
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Delaware
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LEAF Financial Corporation
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Delaware
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LEAF Commercial Capital, Inc.
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Delaware
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LEAF Capital Funding LLC
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Delaware
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|||
LEAF Capital Funding SPE A, LLC
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Delaware
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LEAF Receivables Funding 3, LLC
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Delaware
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LEAF Funding SPE 1, LLC
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Delaware
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|||
Commerce Square Insurance Services, LLC
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Delaware
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|||
Commerce Square Equipment Reinsurance Co., Ltd.
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Turks & Caicos Islands
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LEAF Ventures, LLC
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Delaware
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Merit Capital Manager, LLC
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Delaware
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Merit Capital Advance, LLC
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Delaware
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Merit Processing, LLC
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Delaware
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LEAF Ventures II, LLC
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Delaware
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Prompt Payment, LLC
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Delaware
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LEAF Funding, Inc.
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Delaware
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Resource Capital Funding II, LLC
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Delaware
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Resource Asset Management, LLC
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Delaware
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LEAF Asset Management, LLC
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Delaware
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LEAF Receivables Funding 7, LLC
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Delaware
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Financial Servicing, LLC
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Delaware
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Resource Real Estate Holdings, Inc.
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Delaware
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Resource Real Estate, Inc.
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Delaware
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Resource Capital Partners, Inc.
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Delaware
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Resource Real Estate Management, LLC
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Delaware
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Resource Real Estate Investors UK 6 Corporation
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Delaware
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Resource Capital Partners II, LLC
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Delaware
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RRE Investor, LLC
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Delaware
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Walnut Street Investments, LLC
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Delaware
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Resource Real Estate Funding, Inc.
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Delaware
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Parkwin Services, LLC
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Delaware
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RRE Leasco, LLC
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Delaware
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RRE Oak Park Leaseco, LLC
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Delaware
|
|||
Resource Real Estate Management, Inc.
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Delaware
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RRE D2R2 2007-1, LLC
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Delaware
|
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Resource Real Estate Opportunity Advisor, LLC
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Delaware
|
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Resource Real Estate Opportunity Manager, LLC
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Delaware
|
|||
RCP Westchase Wyndham Manager, LLC
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Delaware
|
|||
RCP Pear Tree Manager, LLC
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Delaware
|
|||
RCP Wind Tree Manager, LLC
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Delaware
|
|||
RCP Falls at Duraleigh Manager, Inc.
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Delaware
|
|||
RCP Sage Canyon Manager, Inc.
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Delaware
|
|||
RCP Cuestas Manager, Inc.
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Delaware
|
|||
RCP Chenal Brightwaters Manager, LLC
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Delaware
|
|||
RCP Holdco I Manager, Inc.
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Delaware
|
|||
RCP Reserves Manager, Inc.
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Delaware
|
|||
RCP Foxglove Manager, Inc.
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Delaware
|
|||
RCP Santa Fe Manager, Inc.
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Delaware
|
|||
RCP Regents Center Manager, Inc.
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Delaware
|
|||
RCP Highland Lodge Manager, Inc.
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Delaware
|
|||
RCP Grove Manager, LLC
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Delaware
|
|||
RCP Avalon Manager, Inc.
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Delaware
|
|||
RCP Howell Bridge Manager, Inc.
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Delaware
|
|||
RCP Heritage Lake Manager, LLC
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Delaware
|
|||
RCP Magnolia Manager, LLC
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Delaware
|
|||
RCP West Wind Manager, LLC
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Delaware
|
|||
RCP Ryan’s Crossing Manager, LLC
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Delaware
|
|||
RCP Memorial Tower Manager, LLC
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Delaware
|
|||
RCP Villas Manager, LLC
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Delaware
|
|||
RCP Coach Lantern Manager, LLC
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Delaware
|
|||
RCP Foxcroft Manager, LLC
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Delaware
|
|||
RCP Tamarlane Manager, LLC
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Delaware
|
|||
RCP Park Hill Manager, LLC
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Delaware
|
|||
RCP Woodland Hills Manager, LLC
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Delaware
|
|||
RCP Brent Oaks Manager, LLC
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Delaware
|
|||
RCP Cape Cod Manager, LLC
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Delaware
|
|||
RCP Woodhollow Manager, LLC
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Delaware
|
|||
RCP Mill Creek Manager, LLC
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Delaware
|
|||
RCP Wyndridge Manager, LLC
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Delaware
|
|||
RCP Waterstone Manager, LLC
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Delaware
|
|||
RRE West Chase Wyndham TIC, LLC
|
Delaware
|
|||
RRE Chenal Brightwaters TIC, LLC
|
Delaware
|
|||
RRE Highland Lodge TIC, LLC
|
Delaware
|
RRE Regents Center TIC, LLC
|
Delaware
|
|||
RRE Heritage Lake TIC, LLC
|
Delaware
|
|||
RRE Bentley Place TIC, LLC
|
Delaware
|
|||
RRE Reserves TIC, LLC
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Delaware
|
|||
RRE Highland Lodge Manager, Inc.
|
Delaware
|
|||
Resource RSI Phase I, LLC
|
Delaware
|
|||
Resource RSI Phase II, LLC
|
Delaware
|
|||
RSI I Manager, Inc.
|
Delaware
|
|||
RSI II Manager, Inc.
|
Delaware
|
|||
Resource Programs, Inc.
|
Delaware
|
|||
RCP Financial, LLC
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Pennsylvania
|
|||
Resource Properties XVII, Inc.
|
Delaware
|
|||
Resource Properties XXV, Inc.
|
Delaware
|
|||
Resource Properties XXVI, Inc.
|
Delaware
|
|||
Resource Properties XXX, Inc.
|
Delaware
|
|||
Resource Properties XXXI, Inc.
|
Delaware
|
|||
Resource Properties XLVII, Inc.
|
Delaware
|
|||
Resource Properties XLIX, Inc.
|
Delaware
|
|||
Resource Properties 54, Inc.
|
Delaware
|
|||
Resource Commercial Mortgages, Inc.
|
Delaware
|
|||
Resource Housing Investors I, Inc.
|
Delaware
|
|||
Resource Housing Investors II, Inc.
|
Delaware
|
|||
Resource Housing Investors III, Inc.
|
Delaware
|
|||
Resource Housing Investors IV, Inc.
|
Delaware
|
1)
|
I have reviewed this report on Form 10-K/A for the fiscal year ended September 30, 2011 of Resource America, Inc.;
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2)
|
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
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/s/ Jonathan Z. Cohen
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Date: December 16, 2011
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Jonathan Z. Cohen
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Chief Executive Officer
|
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1)
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I have reviewed this report on Form 10-K/A for the fiscal year ended September 30, 2011 of Resource America, Inc.;
|
2)
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Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
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/s/ Thomas C. Elliott
|
|
Date: December 16, 2011
|
Thomas C. Elliott
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Senior Vice President and Chief Financial Officer
|
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