LEAF Reports 48% Lease/Loan Origination Growth for Fiscal Q4 ...

LEAF Reports 48% Lease/Loan Origination Growth for Fiscal Q4

Resource America reported adjusted income from continuing operations attributable to common shareholders, net of tax, a non-GAAP measure, of $234,000, and $31.0 million for the fourth fiscal quarter and fiscal year ended September 30, 2012, respectively, as compared to an adjusted loss from continuing operations attributable to common shareholders, net of tax, of $1.2 million and adjusted income from continuing operations attributable to common shareholders, net of tax, of $2.4 million,? for the fourth fiscal quarter and fiscal year ended September 30, 2011, respectively.

LEAF Commercial Capital, Inc. Highlights

Lease Origination/Platform Growth:?LEAF Commercial Capital, Inc. (?LEAF?), the Company?s equipment leasing joint venture, continued to grow its lease origination and servicing operations during the fourth fiscal quarter ended September 30, 2012:

• Lease and loan origination volume increased by 48% compared to the fourth fiscal quarter ended September 30, 2011.
• LEAF?s commercial finance assets as of September 30, 2012 increased by 76% from September 30, 2011.

Securitizatons:?In September 2012, LEAF announced a new securitization transaction, LEAF 2012-1, which securitized a portfolio of approximately $221.0 million of leases and commercial loans through the issuance of equipment contract-backed notes. This transaction is the second securitization of small ticket equipment leases and commercial loans that LEAF has sponsored since its inception. The leases and loans were originated by LEAF and are backed by various equipment, including office equipment such as photocopiers, printers and telecommunications systems, as well as technology, light industrial and healthcare-related equipment.

Increased Warehouse Capacity:?In September 2012, LEAF expanded its funding capacity with the closing of a $150.0 million revolving credit facility with Credit Suisse AG, New York Branch. This additional $150.0 million of warehouse capacity will be used by LEAF to fund new lease originations through its various vendor channels.

Read the full earnings press release.

SOURCE:?http://www.equipmentfa.com/ReadNews.aspx?id=1325

Source: http://www.worldleasingnews.com/news/leaf-reports-48-leaseloan-origination-growth-for-fiscal-q4/

christopher plummer viola davis school shooting in ohio shooting at chardon high school sasha baron cohen stacy keibler stacy keibler