Schedule 13G Birmingham Bloomfield Banshares, Inc.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. )*

BIRMINGHAM BLOOMFIELD BANCSHARES, INC.

(Name of Issuer)

COMMON STOCK, NO PAR VALUE

(Title of Class of Securities)

091112 10 2

(CUSIP Number)

December 19, 2006

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

[ ] Rule 13d-1(b)

[X] Rule 13d-1(c)

[ ] Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 091112 10 2

(1)

Names of Reporting Persons; I.R.S. Identification Nos. of above persons (entities only)

Resource America, Inc.

(2) Check the Appropriate Box if a Member of a Group

(a) [ ]

(b) [ ]

(3) SEC Use Only

(4) Citizenship or Place of Organization

State of Delaware

Number of (5) Sole Voting Power

Shares 0

Beneficially

Owned By (6) Shared Voting Power

Each 178,171

Reporting

Person (7) Sole Dispositive Power

With 0

(8) Shared Dispositive Power

178,171

(9) Aggregate Amount Beneficially Owned by Each Reporting Person

178,171

(10) Check if the Aggregate Amount in Row (11) Excludes Certain Shares

[ ]

(11) Percent of Class Represented by Amount in Row (9)

9.89%

(12) Type of Reporting Person

CUSIP No. 091112 10 2

(2)

Names of Reporting Persons; I.R.S. Identification Nos. of above persons (entities only)

Resource Financial Fund Management, Inc.

(2) Check the Appropriate Box if a Member of a Group

(a) [ ]

(b) [ ]

(3) SEC Use Only

(4) Citizenship or Place of Organization

State of Delaware

Number of (5) Sole Voting Power

Shares 0

Beneficially

Owned By (6) Shared Voting Power

Each 178,171

Reporting

Person (7) Sole Dispositive Power

With 0

(8) Shared Dispositive Power

178,171

(9) Aggregate Amount Beneficially Owned by Each Reporting Person

178,171

(10) Check if the Aggregate Amount in Row (11) Excludes Certain Shares

[ ]

(11) Percent of Class Represented by Amount in Row (9)

9.89%

(12) Type of Reporting Person

CUSIP No. 091112 10 2

(3)

Names of Reporting Persons; I.R.S. Identification Nos. of above persons (entities only)

Resource Financial Institutions Group, Inc.

(2) Check the Appropriate Box if a Member of a Group

(a) [ ]

(b) [ ]

(3) SEC Use Only

(4) Citizenship or Place of Organization

State of Delaware

Number of (5) Sole Voting Power

Shares 0

Beneficially

Owned By (6) Shared Voting Power

Each 178,171

Reporting

Person (7) Sole Dispositive Power

With 0

(8) Shared Dispositive Power

178,171

(9) Aggregate Amount Beneficially Owned by Each Reporting Person

178,171

(10) Check if the Aggregate Amount in Row (11) Excludes Certain Shares

[ ]

(11) Percent of Class Represented by Amount in Row (9)

9.89%

(12) Type of Reporting Person

Item 1.

(a) Name of Issuer

Birmingham Bloomfield Bancshares, Inc. a Michigan corporation (the "Company").

(b) Address of Issuer's Principal Executive Offices

33583 Woodward Avenue

Birmingham, Michigan 48009

Item 2(a) Name of Person Filing

Item 2(b) Address of Principal Business Office or, if none, Residence

Item 2(c) Citizenship

Resource America, Inc.

1845 Walnut Street, 10^th Floor

Philadelphia, PA 19103

Delaware corporation

Resource Financial Fund Management, Inc.

One Crescent Drive, Suite 203

Navy Yard Corporate Center

Philadelphia, PA 19112

Delaware corporation

Resource Financial Institutions Group, Inc.

712 5^th Avenue, 10^th Floor

New York, New York 10019

Delaware corporation

Item 2(d) Title of Class of Securities

Common Stock, no par value per share ("Common Stock")

Item 2(e) CUSIP Number

091112 10 2

Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

(a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o).

(b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).

(d) [ ] Investment company registered under Section 8 of the Investment Company

Act of 1940 (15 U.S.C. 80a-8).

(e) [ ] An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);

(f) [ ]

An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);

(g) [ ]

A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);

(h) [ ]

A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

(i) [ ]

A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

Item 4. Ownership

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

(a) Amount beneficially owned:

As of the date of this filing, Resource America, Inc., a publicly-held corporation (“RAI”), Resource Financial Fund Management, Inc. (“RFFM”) and Resource Financial Institutions Group, Inc. (“RFIG”), each may be deemed the beneficial owner of (i) 63,910 shares of Common Stock held by Compass Island Partners, L.P., (ii) 42,226 shares of Common Stock held by Cradle Cove Partners, L.P. and (iii) 72,035 shares of Common Stock held by Compass Island Partners A, L.P. (each entity referred to in (i) through (iii) is herein referred to as a “Fund” and, collectively, as the “Funds”).

RFIG is the general partner and acts as the investment manager of each of the Funds and has voting and dispositive power over the securities held by the Funds. RFIG is a wholly-owned subsidiary of RFFM. RFFM is a wholly-owned subsidiary of RAI. As a result, RFIG, RFFM and RAI may be deemed to beneficially own all shares of Common Stock held by the Funds, an aggregate of 178,171 shares of Common Stock. RFFM and RAI each disclaim beneficial ownership of the shares of Common Stock owned by the Funds and the filing of this statement shall not be construed as an admission that any such person is the beneficial owner of any such securities.

(b) Percent of class:

Based on the annual report on Form 10-QSB filed by the Company on November 14, 2006, there were 1,800,000 shares of Common Stock outstanding as of November 9, 2006. Therefore, each of RFIG, RFFM and RAI may be deemed to beneficially own 9.89% of the outstanding shares of Common Stock.

(i) Sole power to vote or to direct the vote

(ii) Shared power to vote or to direct the vote

See Item 4(a) above.

(iii) Sole power to dispose or to direct the disposition of

(iv) Shared power to dispose or to direct the disposition of

See Item 4(a) above.

Item 5. Ownership of Five Percent or Less of a Class

If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following. [ ]

Item 6. Ownership of More than Five Percent on Behalf of Another Person

This Schedule 13G is filed by RAI, RFFM and RFIG with respect to Common Stock held by RFIG’s investment funds. Each limited partner of each fund has the right to receive dividends from, and the proceeds from the sale of, securities held in each fund. No such limited partner has any of the foregoing rights with respect to more than five percent of the class of securities.

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company

Not applicable.

Item 8. Identification and Classification of Members of the Group

Not applicable

Item 9. Notice of Dissolution of Group

Not applicable

Item 10. Certification

By signing below each of the undersigned certifies that, to the best of its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

RESOURCE AMERICA, INC.

Name: Darshan V. Patel

Title: Vice President

RESOURCE FINANCIAL FUND

MANAGEMENT, INC.

Name: Darshan V. Patel

Title: Vice President, Chief Legal Officer, Chief Compliance Officer and Secretary

RESOURCE FINANCIAL INSTITUTIONS GROUP, INC.

Name: Shivan Govindan

Title: Vice President

Dated: January 23, 2007

EXHIBIT A

AGREEMENT REGARDING THE JOINT FILING OF SCHEDULE 13G

The undersigned hereby agree as follows:

(i) Each of them is individually eligible to use the Schedule 13G to which this Exhibit is attached, and such Schedule 13G is filed on behalf of each of them; and

(ii) Each of them is responsible for the timely filing of such Schedule 13G and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained therein; but none of them is responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate.

Date: January 23, 2006

RESOURCE AMERICA, INC.

Name: Darshan V. Patel

Title: Vice President

RESOURCE FINANCIAL FUND

MANAGEMENT, INC.

Name: Darshan V. Patel

Title: Vice President, Chief Legal Officer, Chief Compliance Officer and Secretary

RESOURCE FINANCIAL INSTITUTIONS GROUP, INC.

Name: Shivan Govindan

Title: Vice President