0001193125-12-060741.txt : 20120214 0001193125-12-060741.hdr.sgml : 20120214 20120214161055 ACCESSION NUMBER: 0001193125-12-060741 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20111231 FILED AS OF DATE: 20120214 DATE AS OF CHANGE: 20120214 EFFECTIVENESS DATE: 20120214 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: 12609839 BUSINESS ADDRESS: STREET 1: 150 EAST 52ND STREET STREET 2: 30TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2124867300 MAIL ADDRESS: STREET 1: 150 EAST 52ND STREET STREET 2: 30TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 13F-HR 1 d301731d13fhr.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: December 31, 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 February 13, 2012 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: 140 Form 13F Information Table Value Total: 648049 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 2981 842000 SH SOLE 842000 0 0 D 1ST UNITED BANCORP INC. (FL) C COMMON STOCK 33740N105 7276 1311000 SH SOLE 1311000 0 0 D ACCESS NATL CORP COM STK COMMON STOCK 004337101 1784 202700 SH SOLE 202700 0 0 D ALLIANCE BANCORP INC OF PA COM COMMON STOCK 01890A108 2454 227900 SH SOLE 227900 0 0 D AMERICAN CAPITAL AGENCY CORP COMMON STOCK 02503X105 2819 100400 SH SOLE 100400 0 0 D AMERICAN RIVER BANKSHARES COM COMMON STOCK 029326105 4436 975000 SH SOLE 975000 0 0 D AON CORPORATION COM STK COMMON STOCK 037389103 7259 155100 SH SOLE 155100 0 0 D ASB BANCORP INC. COM STK COMMON STOCK 00213T109 1170 100000 SH SOLE 100000 0 0 D ASTORIA FINANCIAL CORP COM STK COMMON STOCK 046265104 1252 147500 SH SOLE 147500 0 0 D ATHENS BANCSHARES CORP COM STK COMMON STOCK 047042106 3120 260000 SH SOLE 260000 0 0 D BANCFIRST CORP COM STK COMMON STOCK 05945F103 6382 170000 SH SOLE 170000 0 0 D BANCORPSOUTH INC COM STK COMMON STOCK 059692103 1056 95800 SH SOLE 95800 0 0 D BANK OF AMERICA 7.25% SER L PE PRFD STK (CONVRT 060505682 1729 2200 SH SOLE 2200 0 0 D BANK MUTUAL CORP COM STK COMMON STOCK 063750103 541 170000 SH SOLE 170000 0 0 D BANNER CORP COM STK COMMON STOCK 06652V208 3687 215000 SH SOLE 215000 0 0 D BAR HARBOR BANKSHARES COM STK COMMON STOCK 066849100 8769 292500 SH SOLE 292500 0 0 D BOSTON PRIVATE FINL HLDNGS INC COMMON STOCK 101119105 664 83600 SH SOLE 83600 0 0 D BRIDGE BANCORP INC COM STK COMMON STOCK 108035106 5168 259700 SH SOLE 259700 0 0 D BRIDGE CAPITAL HOLDINGS COMMON STOCK 108030107 6500 625000 SH SOLE 625000 0 0 D BSB BANCORP INC. COM STK COMMON STOCK 05573H108 5068 480800 SH SOLE 480800 0 0 D CAPITAL ONE FINL COR COM STK COMMON STOCK 14040H105 2051 48500 SH SOLE 48500 0 0 D CENTERSTATE BANKS INC COM STK COMMON STOCK 15201P109 828 125000 SH SOLE 125000 0 0 D CENTURY BANCORP INC COM STK COMMON STOCK 156432106 6987 247400 SH SOLE 247400 0 0 D CENTRAL VALLEY COMMUNITY BNCRP COMMON STOCK 155685100 54 10000 SH SOLE 10000 0 0 D CHEMICAL FINANCIAL CORP COM ST COMMON STOCK 163731102 2066 96900 SH SOLE 96900 0 0 D CHICOPEE BANCORP COMMON STOCK 168565109 3739 265200 SH SOLE 265200 0 0

D CITIGROUP INC COM STK COMMON STOCK 172967424 776 29500 SH SOLE 29500 0 0 D CITIGROUP 7.5% SER H CONV PRD PRFD STK (CONVRT 172967416 21465 265000 SH SOLE 265000 0 0 D CITIZENS & NORTHN CO RP COM ST COMMON STOCK 172922106 5116 277000 SH SOLE 277000 0 0 D CITY NATIONAL CORP CA COM STK COMMON STOCK 178566105 4285 97000 SH SOLE 97000 0 0 D COLONIAL FINL SERVICES INC COM COMMON STOCK 19566B101 897 72000 SH SOLE 72000 0 0 D COMERICA INC COM STK COMMON STOCK 200340107 20382 790000 SH SOLE 790000 0 0 D CONNECTICUT BK & TR CO HARTFO COMMON STOCK 207546102 2000 250000 SH SOLE 250000 0 0 D DISCOVER FINANCIAL SERVICES COMMON STOCK 254709108 3266 136100 SH SOLE 136100 0 0 D DORAL FINL CORP COM STK COMMON STOCK 25811P886 3883 4045000 SH SOLE 4045000 0 0 D EAGLE BANCORP INC COM STK COMMON STOCK 268948106 3072 211300 SH SOLE 211300 0 0 D EAGLE BANCORP MONTANA INC COM COMMON STOCK 26942G100 2955 300000 SH SOLE 300000 0 0 D ENCORE BANCSHARES INC COM COMMON STOCK 29255V201 4182 309300 SH SOLE 309300 0 0 D ESSA BANCORP INC COM STK COMMON STOCK 29667D104 2513 240000 SH SOLE 240000 0 0 D EUREKA FINANCIAL CORP COM STK COMMON STOCK 29855C108 1056 82800 SH SOLE 82800 0 0 D EVANS BANCORP INC COM STK COMMON STOCK 29911Q208 4412 370100 SH SOLE 370100 0 0 D FINANCIAL INSTITUTIONS INC COMMON STOCK 317585404 1194 74000 SH SOLE 74000 0 0 D FIRST CITIZENS BANCSHARES INC COMMON STOCK 31946M103 5390 30800 SH SOLE 30800 0 0 D FIRST CONNECTICUT BANCORP INC COMMON STOCK 319850103 5905 453900 SH SOLE 453900 0 0 D FIRST DEFIANCE FINANCIAL CORP COMMON STOCK 32006W106 4003 274400 SH SOLE 274400 0 0 D FIRST FINANCIAL BANCORP OHIO COMMON STOCK 320209109 17331 1041500 SH SOLE 1041500 0 0 D FIRST HORIZON NATIONAL CORP COMMON STOCK 320517105 15860 1982500 SH SOLE 1982500 0 0 D FIRST M&F CORP COM STK COMMON STOCK 320744105 40 14000 SH SOLE 14000 0 0 D FIRST MIDWEST BANCORP INC DEL COMMON STOCK 320867104 19101 1885600 SH SOLE 1885600 0 0 D FIRST OF LONG ISLAND CORP COM COMMON STOCK 320734106 908 34500 SH SOLE 34500 0 0 D FIRSTBANK CORPORATION COMMON STOCK 33761G104 513 100000 SH SOLE 100000 0 0 D FORTEGRA FINL CORP COM STK COMMON STOCK 34954W104 334 50000 SH SOLE 50000 0 0 D FOX CHASE BANCORP INC COM STK COMMON STOCK 35137T108 6909 547000 SH SOLE 547000 0 0 D FRANKLIN RESOURCES I NC. COM S COMMON STOCK 354613101 884 9200 SH SOLE 9200 0 0 D ARTHUR J. GALLAGHER & CO COM COMMON STOCK 363576109 669 20000 SH SOLE 20000 0 0 D GOLDMAN SACHS GROUP INC COM COMMON STOCK 38141G104 9179 101500 SH SOLE 101500 0 0 D GUARANTY BANCORP COM STK COMMON STOCK 40075T102 147 100000 SH SOLE 100000 0 0 D HAMPDEN BANCORP INC COM STK COMMON STOCK 40867E107 1586 134389 SH SOLE 134389 0 0 D HERITAGE COMM CORP COM STK COMMON STOCK 426927109 765 161300 SH SOLE 161300 0 0 D HERITAGE FINANCIAL CORPORATIO COMMON STOCK 42722X106 6850 545400 SH SOLE 545400 0 0 D HERITAGE FINANCIAL GROUP INC C COMMON STOCK 42726X102 1817 154000 SH SOLE 154000 0 0 D HERITAGE OAKS BANCORP COM STK COMMON STOCK 42724R107 7636 2157200 SH SOLE 2157200 0 0 D HF FINANCIAL CORP COM STK COMMON STOCK 404172108 7064 655900 SH SOLE 655900 0 0 D HINGHAM INSTITUTION FOR SVGS COMMON STOCK 433323102 2629 55000 SH SOLE 55000 0 0 D HOME FEDERAL BANCORP INC LA C COMMON STOCK 43708L108 3489 245900 SH SOLE 245900 0 0 D HOPFED BANCORP INC COM STK COMMON STOCK 439734104 4738 734602 SH SOLE 734602 0 0 D HUNTINGTON BANCSHARES INC COM COMMON STOCK 446150104 4565 831500 SH SOLE 831500 0 0 D IBERIABANK CORP COM STK COMMON STOCK 450828108 1656 33600 SH SOLE 33600 0 0 D IF BANCORP INC COM STK COMMON STOCK 44951J105 3890 346700 SH SOLE 346700 0 0 D INDIANA COMMUNITY BANCORP COM COMMON STOCK 454674102 3466 236900 SH SOLE 236900 0 0 D INVESCO LTD COM STK COMMON STOCK G491BT108 3666 182500 SH SOLE 182500 0 0 D INVESTORS BANCORP INC COM STK COMMON STOCK 46146P102 2696 200000 SH SOLE 200000 0 0 D JACKSONVILLE BANCORP INC COM COMMON STOCK 469249106 1050 333333 SH SOLE 333333 0 0 D JANUS CAPITAL GROUP INC COM COMMON STOCK 47102X105 66 10500 SH SOLE 10500 0 0 D JP MORGAN CHASE & CO COM STK COMMON STOCK 46625H100 9736 292800 SH SOLE 292800 0 0 D JP MORGAN CHASE WRNT EXP 10/28 WARRANTS 46634E114 1244 146300 SH SOLE 146300 0 0 D KEYCORP NY COM STK COMMON STOCK 493267108 10189 1325000 SH SOLE 1325000 0 0 D LAZARD LTD COM COMMON STOCK G54050102 3525 135000 SH SOLE 135000 0 0 D LOUISIANA BANCORP INC COM COMMON STOCK 54619P104 3915 247000 SH SOLE 247000 0 0 D MARSH & MCLENNAN COMPANIES INC COMMON STOCK 571748102 5201 164500 SH SOLE 164500 0 0 D MB FINANCIAL INC COM STK COMMON STOCK 55264U108 2633 154000 SH SOLE 154000 0 0 D MERIDIAN INTERSTATE BNCRP INC COMMON STOCK 58964Q104 7595 610000 SH SOLE 610000 0 0 D MIDWESTONE FINANCIAL GRP INC COMMON STOCK 598511103 7252 496000 SH SOLE 496000 0 0 D MUTUALFIRST FINANCIA L INC COM COMMON STOCK 62845B104 1147 162300 SH SOLE 162300 0 0 D NAUGATUCK VALLEY FINL CORP COM COMMON STOCK 63906P107 1324 195000 SH SOLE 195000 0 0 D NEWPORT BANCORP INC COM STK COMMON STOCK 651754103 4318 343500 SH SOLE 343500 0 0 D NORTH DALLAS BANK & TRUST CO COMMON STOCK 659012108 573 12800 SH SOLE 12800 0 0 D NORTH VALLEY BANCORP COM STK COMMON STOCK 66304M204 1269 132100 SH SOLE 132100 0 0 D NORTHRIM BANCORP INC COMMON STOCK 666762109 4917 280800 SH SOLE 280800 0 0 D OBA FINANCIAL SERVIC ES INC COMMON STOCK 67424G101 2510 175000 SH SOLE 175000 0 0 D OCEANFIRST FINL CORP COM STK COMMON STOCK 675234108 9388 718300 SH SOLE 718300 0 0 D OMNIAMERICAN BANCORP INC COMMON STOCK 68216R107 9550 608300 SH SOLE 608300 0 0 D ONEIDA FINANCIAL CORP COM STK COMMON STOCK 682479100 1805 190000 SH SOLE 190000 0 0 D PACIFIC PREMIER BANC ORP COM S COMMON STOCK 69478X105 4411 695700 SH SOLE 695700 0 0 D PALMETTO BANCSHARES INC COM ST COMMON STOCK 697062206 5046 987527 SH SOLE 987527 0 0 D PARK STERLING BK CHARLOTTE NC COMMON STOCK 70086Y105 1648 403900 SH SOLE 403900 0 0 D PEOPLE FED BANCSHARES INC COMMON STOCK 711037101 3705 260000 SH SOLE 260000 0 0 D POAGE BANKSHARES INC COM STK COMMON STOCK 730206109 3030 277500 SH SOLE 277500 0 0 D POPULAR INC COM STK COMMON STOCK 733174106 564 405900 SH SOLE 405900 0 0 D PREFERRED BANK COM STK COMMON STOCK 740367404 6155 826140 SH SOLE 826140 0 0 D PROVIDENT FINANCIAL HOLDINGS I COMMON STOCK 743868101 2420 259700 SH SOLE 259700 0 0 D RIVERVIEW BANCORP INC COM STK COMMON STOCK 769397100 3857 1627400 SH SOLE 1627400 0 0 D ROCKVILLE FINL INC COM STK COMMON STOCK 774188106 6308 608900 SH SOLE 608900 0 0 D SAVANNAH BANCORP INC COM STK COMMON STOCK 804748101 352 71200 SH SOLE 71200 0 0 D SEACOAST BKG CORP FLA COMMON COMMON STOCK 811707306 3382 2225000 SH SOLE 2225000 0 0 D SI FINL GROUP INC COM STK COMMON STOCK 78425V104 4088 415000 SH SOLE 415000 0 0 D SIERRA BANCORP COM STK COMMON STOCK 82620P102 5468 621400 SH SOLE 621400 0 0 D SIMMONS FIRST NATION AL CORP C COMMON STOCK 828730200 8630 317400 SH SOLE 317400 0 0 D SOMERSET HILLS BANCORP BERNA COMMON STOCK 834728107 3750 500000 SH SOLE 500000 0 0 D SOUTHERN MISSOURI BANCORP INC COMMON STOCK 843380106 5393 240000 SH SOLE 240000 0 0 D SOUTHWEST BANCORP IN C OKLA CO COMMON STOCK 844767103 715 120000 SH SOLE 120000 0 0 D STANDARD FINANCIAL CORP COMMON STOCK 853393106 5043 329600 SH SOLE 329600 0 0 D STATE BANK FINL CORP COM STK COMMON STOCK 856190103 34602 2290000 SH SOLE 2290000 0 0 D STATE INVESTORS BANCORP INC CO COMMON STOCK 857030100 3078 281900 SH SOLE 281900 0 0 D STERLING BANCORP COM STK COMMON STOCK 859158107 5011 580000 SH SOLE 580000 0 0 D STERLING FINANCIAL CORP COM COMMON STOCK 859319303 1253 75000 SH SOLE 75000 0 0 D SUNTRUST BANKS INC COM STK COMMON STOCK 867914103 17789 1005000 SH SOLE 1005000 0 0 D SUNTRUST BANKS INC WRNT EXP WARRANTS 867914129 636 192765 SH SOLE 192765 0 0 D TERRITORIAL BANCORP INC COM ST COMMON STOCK 88145X108 5966 302100 SH SOLE 302100 0 0 D TEXAS CAPITAL BANCSHARES INC C COMMON STOCK 88224Q107 2161 70600 SH SOLE 70600 0 0 D TFS FINANCIAL CORP COM STK COMMON STOCK 87240R107 2357 263100 SH SOLE 263100 0 0 D TRUSTCO BANK CORP NY COM STK COMMON STOCK 898349105 9493 1692100 SH SOLE 1692100 0 0 D UMB FINANCIAL CORP COM STK COMMON STOCK 902788108 4347 116700 SH SOLE 116700 0 0 D UNITED CMNTY FINL CO RP OHIO C COMMON STOCK 909839102 68 53400 SH SOLE 53400 0 0 D UNITED COMMUNITY BAN KS INC CO COMMON STOCK 90984P303 273 39000 SH SOLE 39000 0 0 D VIEWPOINT FINANCIAL GROUP COM COMMON STOCK 92672A101 1029 79100 SH SOLE 79100 0 0 D WALKER & DUNLOP INC COMMON STOCK 93148P102 2816 224200 SH SOLE 224200 0 0 D WASHINGTON FEDERAL INC COM STK COMMON STOCK 938824109 3386 242000 SH SOLE 242000 0 0 D WELLS FARGO & CO 7.5% SER L PRFD STK (CONVRT 949746804 8343 7901 SH SOLE 7901 0 0 D WELLS FARGO & CO-CW1 8 WT EXP1 WARRANTS 949746119 2704 315200 SH SOLE 315200 0 0 D WELLS FARGO COMPANY COMMON STOCK 949746101 2654 96300 SH SOLE 96300 0 0 D WEST BANCORPORATION INC COM ST COMMON STOCK 95123P106 185 19300 SH SOLE 19300 0 0 D WESTERN ALLIANCE BANCORP COM S COMMON STOCK 957638109 2600 417300 SH SOLE 417300 0 0 D WESTFIELD FINANCIAL INC COM ST COMMON STOCK 96008P104 185 25100 SH SOLE 25100 0 0 D WILLIS LEASE FINANCE CORP COM COMMON STOCK 970646105 1797 150400 SH SOLE 150400 0 0 D WILSHIRE BANCORP INC COM STK COMMON STOCK 97186T108 15986 4403900 SH SOLE 4403900 0 0 D WINTRUST FINL CORP COM STK COMMON STOCK 97650W108 23711 845300 SH SOLE 845300 0 0 D WOLVERINE BANCORP INC COMMON STOCK 977880103 2432 172500 SH SOLE 172500 0 0 D XENITH BANKSHARES INC COMMON STOCK 98410X105 3618 970000 SH SOLE 970000 0 0 D ZIONS BANCORPORATION COM STK COMMON STOCK 989701107 11417 701300 SH SOLE 701300 0 0 S REPORT SUMMARY 140 DATA RECORDS 648049 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED