0001193125-11-310902.txt : 20111114 0001193125-11-310902.hdr.sgml : 20111111 20111114161335 ACCESSION NUMBER: 0001193125-11-310902 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110930 FILED AS OF DATE: 20111114 DATE AS OF CHANGE: 20111114 EFFECTIVENESS DATE: 20111114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SANDLER ONEILL ASSET MANAGEMENT LLC CENTRAL INDEX KEY: 0001040762 IRS NUMBER: 133906061 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-07148 FILM NUMBER: 111202645 BUSINESS ADDRESS: STREET 1: 712 FIFTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 2129741700 MAIL ADDRESS: STREET 1: 712 FIFTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 13F-HR 1 d255824d13fhr.txt FORM 13F UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2011 Check here if Amendment [_]; Amendment Number: This amendment (Check only one.): [_] is a restatement. [_] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Sandler O'Neill Asset Management, LLC Address: 150 East 52nd Street, 30th Floor New York, NY 10022 13 File Number: 28-7148 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct, and complete, and and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form Person Signing this Report on Behalf of Reporting Manager: Name: TERRY MALTESE Title: President/CEO Phone: (212) 486-7300 Signature, Place and Date of Signing: TERRY MALTESE November 11, 2011 Report Type (Check only one.): [X] 13F HOLDINGS REPORT. [_] 13F NOTICE. [_] 13F COMBINATION REPORT. I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934 FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 161 Form 13F Information Table Value Total: 657049

FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP x($1000) PRN AMT PRN CALL DISCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- -------- -------- ------- ------ ----- D 1ST CENTY BK NATL AS SN COM ST COMMON STOCK 31943X102 3040 842000 SH SOLE 842000 0 0 D 1ST UNITED BANCORP INC. (FL) C COMMON STOCK 33740N105 6712 1361500 SH SOLE 1361500 0 0 D ACCESS NATL CORP COM STK COMMON STOCK 004337101 1552 200000 SH SOLE 200000 0 0 D AIR LEASE CORPORATION COM STK COMMON STOCK 00912X302 2502 130322 SH SOLE 130322 0 0 D ALLIANCE BANCORP INC OF PA COM COMMON STOCK 01890A108 1139 111700 SH SOLE 111700 0 0 D AMERICAN CAPITAL AGENCY CORP COMMON STOCK 02503X105 1412 52100 SH SOLE 52100 0 0 D AMERICAN RIVER BANKSHARES COM COMMON STOCK 029326105 4746 955000 SH SOLE 955000 0 0 D AMERIS BANCORP COM STK COMMON STOCK 03076K108 2348 269600 SH SOLE 269600 0 0 D ANCHOR BANCORP COM STK COMMON STOCK 032838104 399 64300 SH SOLE 64300 0 0 D AON CORPORATION COM STK COMMON STOCK 037389103 8568 204100 SH SOLE 204100 0 0 D ASTORIA FINANCIAL CORP COM STK COMMON STOCK 046265104 369 48000 SH SOLE 48000 0 0 D ATHENS BANCSHARES CORP COM STK COMMON STOCK 047042106 3375 270000 SH SOLE 270000 0 0 D BANCFIRST CORP COM STK COMMON STOCK 05945F103 6639 200200 SH SOLE 200200 0 0 D BANCORPSOUTH INC COM STK COMMON STOCK 059692103 1537 175000 SH SOLE 175000 0 0 D BANK OF AMERICA 7.25% SER L PE PRFD STK (CONVRT 060505682 1683 2200 SH SOLE 2200 0 0 D BANK MUTUAL CORP COM STK COMMON STOCK 063750103 319 122200 SH SOLE 122200 0 0 D BANK OF NEW YORK MELLON CORP COMMON STOCK 064058100 6544 352000 SH SOLE 352000 0 0 D BANNER CORP COM STK COMMON STOCK 06652V208 3261 255000 SH SOLE 255000 0 0 D BAR HARBOR BANKSHARE S COM STK COMMON STOCK 066849100 8190 292500 SH SOLE 292500 0 0 D BLACKROCK INC COM NEW COMMON STOCK 09247X101 2442 16500 SH SOLE 16500 0 0 D BOSTON PRIVATE FINL HLDNGS INC COMMON STOCK 101119105 2435 414200 SH SOLE 414200 0 0 D BRIDGE BANCORP INC COM STK COMMON STOCK 108035106 183 10000 SH SOLE 10000 0 0 D BRIDGE CAPITAL HOLDINGS COMMON STOCK 108030107 6118 610000 SH SOLE 610000 0 0 D BROWN & BROWN INC COM STK COMMON STOCK 115236101 1949 109500 SH SOLE 109500 0 0 D CAMDEN NATIONAL CORP COM STK COMMON STOCK 133034108 953 35000 SH SOLE 35000 0 0 D CAPITAL ONE FINL COR COM STK COMMON STOCK 14040H105 2972 75000 SH SOLE 75000 0 0 D CAPITOL FEDERAL FINL INC COM COMMON STOCK 14057J101 1566 148300 SH SOLE 148300 0 0 D CENTERSTATE BANKS INC COM STK COMMON STOCK 15201P109 418 80000 SH SOLE 80000 0 0 D CENTURY BANCORP INC COM STK COMMON STOCK 156432106 5108 220000 SH SOLE 220000 0 0 D CHEMICAL FINANCIAL CORP COM ST COMMON STOCK 163731102 2297 150000 SH SOLE 150000 0 0 D CHICOPEE BANCORP COMMON STOCK 168565109 3554 265200 SH SOLE 265200 0 0 D CITIGROUP INC COM STK COMMON STOCK 172967424 15520 606000 SH SOLE 606000 0 0 D CITIZENS & NORTHN CO RP COM ST COMMON STOCK 172922106 4893 329300 SH SOLE 329300 0 0 D CITIZENS REPUBLIC BANCORP INC COMMON STOCK 174420307 331 47900 SH SOLE 47900 0 0 D CITY NATIONAL CORP CA COM STK COMMON STOCK 178566105 7363 195000 SH SOLE 195000 0 0 D CNB FINANCIAL CORP COM STK COMMON STOCK 126128107 1382 107800 SH SOLE 107800 0 0 D COLONIAL FINL SERVICES INC COM COMMON STOCK 19566B101 882 72000 SH SOLE 72000 0 0

D COLUMBIA BANKING SYSTEM INC COMMON STOCK 197236102 1647 115000 SH SOLE 115000 0 0 D COMERICA INC COM STK COMMON STOCK 200340107 5690 247700 SH SOLE 247700 0 0 D CONNECTICUT BK & TR CO HARTFO COMMON STOCK 207546102 1815 285900 SH SOLE 285900 0 0 D DORAL FINL CORP COM STK COMMON STOCK 25811P886 5821 5340000 SH SOLE 5340000 0 0 D EAGLE BANCORP INC COM STK COMMON STOCK 268948106 2866 243500 SH SOLE 243500 0 0 D EAGLE BANCORP MONTANA INC COM COMMON STOCK 26942G100 3156 300000 SH SOLE 300000 0 0 D EAST WEST BANCORP INC COM STK COMMON STOCK 27579R104 857 57500 SH SOLE 57500 0 0 D ENCORE BNCSHRS COMMON STOCK 29255V201 3168 297200 SH SOLE 297200 0 0 D ENTERPRISE BANCORP INC COM COMMON STOCK 293668109 266 21600 SH SOLE 21600 0 0 D ENTERPRISE FINL SERVICES CORP COMMON STOCK 293712105 408 30000 SH SOLE 30000 0 0 D ESSA BANCORP INC COM STK COMMON STOCK 29667D104 1577 150000 SH SOLE 150000 0 0 D EVANS BANCORP INC COM STK COMMON STOCK 29911Q208 4071 370100 SH SOLE 370100 0 0 D EVERCORE PARTNERS INC COM STK COMMON STOCK 29977A105 2052 90000 SH SOLE 90000 0 0 D FIFTH THIRD BANCORP COM STK COMMON STOCK 316773100 5000 495000 SH SOLE 495000 0 0 D FINANCIAL INSTITUTIONS INC COMMON STOCK 317585404 2627 184200 SH SOLE 184200 0 0 D FIRST CITIZENS BANCSHARES INC COMMON STOCK 31946M103 3459 24100 SH SOLE 24100 0 0 D FIRST CMNTY BANCSHARES INC NE COMMON STOCK 31983A103 2855 279900 SH SOLE 279900 0 0 D FIRST CONNECTICUT BANCORP INC COMMON STOCK 319850103 4853 428700 SH SOLE 428700 0 0 D FIRST DEFIANCE FINANCIAL CORP COMMON STOCK 32006W106 3161 240600 SH SOLE 240600 0 0 D FIRST FINANCIAL BANCORP OHIO COMMON STOCK 320209109 19424 1407500 SH SOLE 1407500 0 0 D FIRST FINANCIAL HOLDINGS INC COMMON STOCK 320239106 76 19000 SH SOLE 19000 0 0 D FIRST HORIZON NATIONAL CORP COMMON STOCK 320517105 8277 1388700 SH SOLE 1388700 0 0 D FIRST M&F CORP COM STK COMMON STOCK 320744105 44 14000 SH SOLE 14000 0 0 D FIRST MIDWEST BANCORP INC DEL COMMON STOCK 320867104 16548 2260600 SH SOLE 2260600 0 0 D FIRST OF LONG ISLAND CORP COM COMMON STOCK 320734106 1732 76435 SH SOLE 76435 0 0 D FIRST SECURITY GROUP INC COMMON STOCK 336312202 63 30000 SH SOLE 30000 0 0 D FIRSTBANK CORPORATION COMMON STOCK 33761G104 492 100000 SH SOLE 100000 0 0 D FIRSTMERIT CORP COM STK COMMON STOCK 337915102 398 35000 SH SOLE 35000 0 0 D FORTEGRA FINL CORP COM STK COMMON STOCK 34954W104 840 160000 SH SOLE 160000 0 0 D FOX CHASE BANCORP INC COM STK COMMON STOCK 35137T108 8876 700000 SH SOLE 700000 0 0 D FRANKLIN RESOURCES I NC. COM S COMMON STOCK 354613101 6092 63700 SH SOLE 63700 0 0 D ARTHUR J. GALLAGHER & CO COM COMMON STOCK 363576109 5836 221900 SH SOLE 221900 0 0 D GLACIER BANCORP INC COM STK COMMON STOCK 37637Q105 656 70000 SH SOLE 70000 0 0 D GUARANTY BANCORP COM STK COMMON STOCK 40075T102 120 100000 SH SOLE 100000 0 0 D HAMPDEN BANCORP INC COM STK COMMON STOCK 40867E107 5094 398900 SH SOLE 398900 0 0 D HERITAGE COMM CORP COM STK COMMON STOCK 426927109 635 165000 SH SOLE 165000 0 0 D HERITAGE FINANCIAL CORPORATIO COMMON STOCK 42722X106 8192 742000 SH SOLE 742000 0 0 D HERITAGE FINANCIAL GROUP INC C COMMON STOCK 42726X102 1610 155000 SH SOLE 155000 0 0 D HERITAGE OAKS BANCOR P COM STK COMMON STOCK 42724R107 7119 2157200 SH SOLE 2157200 0 0 D HF FINANCIAL CORP COM STK COMMON STOCK 404172108 5510 655900 SH SOLE 655900 0 0 D HINGHAM INSTITUTION FOR SVGS COMMON STOCK 433323102 2622 55000 SH SOLE 55000 0 0 D HMN FINANCIAL INC COM STK COMMON STOCK 40424G108 35 18600 SH SOLE 18600 0 0 D HOME FEDERAL BANCORP INC LA C COMMON STOCK 43708L108 3218 247500 SH SOLE 247500 0 0 D HOPFED BANCORP INC COM STK COMMON STOCK 439734104 4209 734602 SH SOLE 734602 0 0 D HUNTINGTON BANCSHARES INC COM COMMON STOCK 446150104 4944 1030100 SH SOLE 1030100 0 0 D IBERIABANK CORP COM STK COMMON STOCK 450828108 1948 41400 SH SOLE 41400 0 0 D IF BANCORP INC COM STK COMMON STOCK 44951J105 3831 346700 SH SOLE 346700 0 0 D INDIANA COMMUNITY BANCORP COM COMMON STOCK 454674102 2886 195000 SH SOLE 195000 0 0 D INVESCO LTD COM STK COMMON STOCK G491BT108 2872 185200 SH SOLE 185200 0 0 D INVESTORS BANCORP INC COM STK COMMON STOCK 46146P102 2377 188200 SH SOLE 188200 0 0 D JACKSONVILLE BANCORP INC COM COMMON STOCK 469249106 1630 333333 SH SOLE 333333 0 0 D JP MORGAN CHASE & CO COM STK COMMON STOCK 46625H100 9440 313400 SH SOLE 313400 0 0 D JP MORGAN CHASE WRNT EXP 10/28 WARRANTS 46634E114 1362 146300 SH SOLE 146300 0 0 D KBW INC COM STK COMMON STOCK 482423100 827 60000 SH SOLE 60000 0 0 D KEYCORP NY COM STK COMMON STOCK 493267108 7887 1330000 SH SOLE 1330000 0 0 D LAZARD LTD COM COMMON STOCK G54050102 10968 519800 SH SOLE 519800 0 0 D LOUISIANA BANCORP INC COM COMMON STOCK 54619P104 3910 247000 SH SOLE 247000 0 0 D M&T BANK CORP COM STK COMMON STOCK 55261F104 10471 149803 SH SOLE 149803 0 0 D MERIDIAN INTERSTATE BANCORP IN COMMON STOCK 58964Q104 6764 620000 SH SOLE 620000 0 0 D MIDWESTONE FINANCIAL GRP INC COMMON STOCK 598511103 7447 519300 SH SOLE 519300 0 0 D MORGAN STANLEY COM STK COMMON STOCK 617446448 3985 295000 SH SOLE 295000 0 0 D MUTUALFIRST FINANCIA L INC COM COMMON STOCK 62845B104 1123 162300 SH SOLE 162300 0 0 D NAUGATUCK VALLEY FINL CORP COM COMMON STOCK 63906P107 3187 417700 SH SOLE 417700 0 0 D NBT BANCORP INC COM STK COMMON STOCK 628778102 1210 65000 SH SOLE 65000 0 0 D NEW CENTY BANCORP IN C DUNN NC COMMON STOCK 64353M100 399 128700 SH SOLE 128700 0 0 D NEWPORT BANCORP INC COM STK COMMON STOCK 651754103 4208 343500 SH SOLE 343500 0 0 D NORTH VALLEY BANCORP COM STK COMMON STOCK 66304M204 768 82100 SH SOLE 82100 0 0 D NORTHRIM BANCORP INC COMMON STOCK 666762109 5399 279000 SH SOLE 279000 0 0 D OBA FINANCIAL SERVIC ES INC COMMON STOCK 67424G101 2538 175000 SH SOLE 175000 0 0 D OCEANFIRST FINL CORP COM STK COMMON STOCK 675234108 8784 752700 SH SOLE 752700 0 0 D OMNIAMERICAN BANCORP INC COMMON STOCK 68216R107 8286 607000 SH SOLE 607000 0 0 D ONEIDA FINANCIAL CORP COM STK COMMON STOCK 682479100 2271 254000 SH SOLE 254000 0 0 D PACIFIC CONTINENTAL CORP COM S COMMON STOCK 69412V108 198 27900 SH SOLE 27900 0 0 D PACIFIC PREMIER BANC ORP COM S COMMON STOCK 69478X105 4105 695700 SH SOLE 695700 0 0 D PACWEST BANCORP COM STK COMMON STOCK 695263103 1743 125000 SH SOLE 125000 0 0 D PALMETTO BANCSHARES INC COM ST COMMON STOCK 697062206 8394 987527 SH SOLE 987527 0 0 D PARK STERLING BK CHARLOTTE NC COMMON STOCK 70086Y105 3813 1114800 SH SOLE 1114800 0 0 D PEOPLE FED BANCSHARES INC COMMON STOCK 711037101 3740 291500 SH SOLE 291500 0 0 D PEOPLES UNITED FINANCIAL INC C COMMON STOCK 712704105 3922 344000 SH SOLE 344000 0 0 D POAGE BANKSHARES INC COM STK COMMON STOCK 730206109 2149 195000 SH SOLE 195000 0 0 D POPULAR INC COM STK COMMON STOCK 733174106 938 625600 SH SOLE 625600 0 0 D PREFERRED BANK COM STK COMMON STOCK 740367404 6156 775340 SH SOLE 775340 0 0 D PROVIDENT FINANCIAL HOLDINGS I COMMON STOCK 743868101 2068 236600 SH SOLE 236600 0 0 D RIVERVIEW BANCORP IN C COM STK COMMON STOCK 769397100 3836 1598300 SH SOLE 1598300 0 0 D ROCKVILLE FINL INC COM STK COMMON STOCK 774188106 6225 656600 SH SOLE 656600 0 0 D RODMAN & RENSHAW CAP GROUP INC COMMON STOCK 77487R100 835 745900 SH SOLE 745900 0 0 D SANDY SPRING BANCORP INC COM COMMON STOCK 800363103 964 65900 SH SOLE 65900 0 0 D SAVANNAH BANCORP INC COM STK COMMON STOCK 804748101 427 71200 SH SOLE 71200 0 0 D SEACOAST BKG CORP FLA COMMON COMMON STOCK 811707306 3190 2170000 SH SOLE 2170000 0 0 D SI FINL GROUP INC COM STK COMMON STOCK 78425V104 3265 353000 SH SOLE 353000 0 0 D SIERRA BANCORP COM STK COMMON STOCK 82620P102 5959 651300 SH SOLE 651300 0 0 D SIMMONS FIRST NATION AL CORP C COMMON STOCK 828730200 8493 391400 SH SOLE 391400 0 0 D SOMERSET HILLS BANCORP BERNA COMMON STOCK 834728107 3336 460100 SH SOLE 460100 0 0 D SOUTHWEST BANCORP IN C OKLA CO COMMON STOCK 844767103 2743 650000 SH SOLE 650000 0 0 D STANDARD FINANCIAL CORP COMMON STOCK 853393106 4779 329600 SH SOLE 329600 0 0 D STATE BANK FINL CORP COM STK COMMON STOCK 856190103 28182 2233084 SH SOLE 2233084 0 0 D STATE INVESTORS BANCORP INC CO COMMON STOCK 857030100 3180 281900 SH SOLE 281900 0 0 D STERLING BANCORP COM STK COMMON STOCK 859158107 3068 422600 SH SOLE 422600 0 0 D SUNTRUST BANKS INC COM STK COMMON STOCK 867914103 10232 570000 SH SOLE 570000 0 0 D SUSQUEHANNA BANCSHARES INC COM COMMON STOCK 869099101 273 50000 SH SOLE 50000 0 0 D TCF FINANCIAL CORP COM STK COMMON STOCK 872275102 2717 296600 SH SOLE 296600 0 0 D TERRITORIAL BANCORP INC COM ST COMMON STOCK 88145X108 4753 248200 SH SOLE 248200 0 0 D TEXAS CAPITAL BANCSHARES INC C COMMON STOCK 88224Q107 8089 354000 SH SOLE 354000 0 0 D TRUSTCO BANK CORP NY COM STK COMMON STOCK 898349105 8385 1880000 SH SOLE 1880000 0 0 D UMB FINANCIAL CORP COM STK COMMON STOCK 902788108 1546 48200 SH SOLE 48200 0 0 D UNION FIRST MRKT BNCSHRS CORP COMMON STOCK 90662P104 643 60000 SH SOLE 60000 0 0 D UNITED CMNTY FINL CO RP OHIO C COMMON STOCK 909839102 72 53400 SH SOLE 53400 0 0 D UNITED COMMUNITY BAN KS INC CO COMMON STOCK 90984P303 8701 1024800 SH SOLE 1024800 0 0 D US BANCORP COM COMMON STOCK 902973304 3708 157500 SH SOLE 157500 0 0 D VIEWPOINT FINANCIAL GROUP COM COMMON STOCK 92672A101 980 85600 SH SOLE 85600 0 0 D WALKER & DUNLOP INC COMMON STOCK 93148P102 2605 224200 SH SOLE 224200 0 0 D WEBSTER FINANCIAL CORP COM STK COMMON STOCK 947890109 3929 256800 SH SOLE 256800 0 0 D WELLS FARGO & CO 7.5% SER L PRFD STK (CONVRT 949746804 8154 7901 SH SOLE 7901 0 0 D WELLS FARGO & CO-CW1 8 WT EXP1 WARRANTS 949746119 2265 294100 SH SOLE 294100 0 0 D WELLS FARGO COMPANY COMMON STOCK 949746101 7453 309000 SH SOLE 309000 0 0 D WEST BANCORPORATION INC COM ST COMMON STOCK 95123P106 1229 144900 SH SOLE 144900 0 0 D WEST COAST BANCORP O RE NEW CO COMMON STOCK 952145209 700 50000 SH SOLE 50000 0 0 D WESTERN ALLIANCE BANCORP COM S COMMON STOCK 957638109 2192 400000 SH SOLE 400000 0 0 D WILLIS LEASE FINANCE CORP COM COMMON STOCK 970646105 1698 150400 SH SOLE 150400 0 0 D WILSHIRE BANCORP INC COM STK COMMON STOCK 97186T108 12232 4464200 SH SOLE 4464200 0 0 D WINTRUST FINL CORP COM STK COMMON STOCK 97650W108 23229 900000 SH SOLE 900000 0 0 D WOLVERINE BANCORP INC COMMON STOCK 977880103 2800 200000 SH SOLE 200000 0 0 D XENITH BANKSHARES INC COMMON STOCK 98410X105 3269 970000 SH SOLE 970000 0 0 D ZIONS BANCORPORATION COM STK COMMON STOCK 989701107 9997 710000 SH SOLE 710000 0 0 S REPORT SUMMARY 161 DATA RECORDS 657049 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED