The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
SUNTRUST BKS INC COM STK COM 867914103 12,932 314,727 SH   SOLE 0 314,727 0 0
KEYCORP NY COM STK COM 493267108 12,821 905,429 SH   SOLE 0 905,429 0 0
EAGLE BANCORP INC COM STK COM 268948106 11,499 299,450 SH   SOLE 0 299,450 0 0
HANMI FINL CORP COM STK COM 410495204 10,744 507,990 SH   SOLE 0 507,990 0 0
YADKIN VALLEY FINANCIAL CORP COM STK COM 984305102 9,198 453,097 SH   SOLE 0 453,097 0 0
BNC BANCORP COM STK COM 05566T101 9,024 498,562 SH   SOLE 0 498,562 0 0
PROSPERITY BANCSHARES INC COM STK COM 743606105 8,960 170,739 SH   SOLE 0 170,739 0 0
FLUSHING FINANCIAL CORP COM STK COM 343873105 7,784 387,846 SH   SOLE 0 387,846 0 0
WILSHIRE BANCORP INC COM COM 97186T108 7,231 725,249 SH   SOLE 0 725,249 0 0
PEOPLES BANCORP INC COM STK COM 709789101 7,187 304,023 SH   SOLE 0 304,023 0 0
CARDINAL FINL CORP COM STK COM 14149F109 7,149 357,808 SH   SOLE 0 357,808 0 0
GUARANTY BANCORP DEL COM STK COM 40075T607 6,622 390,458 SH   SOLE 0 390,458 0 0
ZIONS BANCORPORATION COM STK COM 989701107 6,565 243,130 SH   SOLE 0 243,130 0 0
MAINSOURCE FINL GROUP INC COM STK COM 56062Y102 6,059 308,501 SH   SOLE 0 308,501 0 0
PREFERRED BK LOS ANGELES CALIF COM STK COM 740367404 5,534 201,450 SH   SOLE 0 201,450 0 0
HUNTINGTON BANCSHARES INC COM COM 446150104 5,507 498,373 SH   SOLE 0 498,373 0 0
CENTERSTATE BKS FLA INC COM STK COM 15201P109 5,400 453,431 SH   SOLE 0 453,431 0 0
INDEPENDENT BK CORP MICH COM STK COM 453838609 5,390 420,077 SH   SOLE 0 420,077 0 0
UNITED CMNTY FINL CORP OHIO COM STK COM 909839102 5,379 985,132 SH   SOLE 0 985,132 0 0
TRISTATE CAPITAL HOLDINGS COM 89678F100 5,367 512,646 SH   SOLE 0 512,646 0 0
OCEANFIRST FINL CORP COM STK COM 675234108 5,222 302,355 SH   SOLE 0 302,355 0 0
INVESTORS BANCORP INC NEW COM 46146L101 5,135 438,100 SH   SOLE 0 438,100 0 0
FIRST INTERSTATE BANCSYSTEM INC COM 32055Y201 5,031 180,830 SH   SOLE 0 180,830 0 0
COMERICA INC WARRANT EXP COM 200340115 4,874 300,685 SH   SOLE 0 300,685 0 0
HERITAGE FINANCIAL CORPORATION COM STK COM 42722X106 4,870 286,445 SH   SOLE 0 286,445 0 0
ENTERPRISE FINL SVCS CORP COM STK COM 293712105 4,739 229,361 SH   SOLE 0 229,361 0 0
TRICO BANCSHARES COM STK COM 896095106 4,734 196,202 SH   SOLE 0 196,202 0 0
FIRST DEFIANCE FINANCIAL CORP COM STK COM 32006W106 4,608 140,414 SH   SOLE 0 140,414 0 0
PALMETTO BANCSHARES INC COM STK COM 697062206 4,442 233,772 SH   SOLE 0 233,772 0 0
FARMERS NATL BANC CORP COM STK COM 309627107 4,441 542,218 SH   SOLE 0 542,218 0 0
DNB FINANCIAL CORP COM STK COM 233237106 4,318 166,068 SH   SOLE 0 166,068 0 0
HERITAGE COMM CORP COM STK COM 426927109 4,181 457,970 SH   SOLE 0 457,970 0 0
EAST-WEST BANCORP INC COM STK COM 27579R104 4,126 101,982 SH   SOLE 0 101,982 0 0
MACKINAC FINL CORP COM STK COM 554571109 3,831 336,335 SH   SOLE 0 336,335 0 0
CORTLAND BANCORP COM STK COM 220587109 3,807 248,835 SH   SOLE 0 248,835 0 0
ENTERPRISE BNCP COM 293668109 3,630 170,841 SH   SOLE 0 170,841 0 0
MUTUALFIRST FINANCIAL INC COM STK COM 62845B104 3,627 157,333 SH   SOLE 0 157,333 0 0
FIRST BUSINESS FINANCIAL SERVI COM STK COM 319390100 3,600 83,263 SH   SOLE 0 83,263 0 0
FOX CHASE BANCORP INC COM STK COM 35137T108 3,428 203,669 SH   SOLE 0 203,669 0 0
CENTRAL VALLEY COMMUNITY BANCO COM STK COM 155685100 2,969 270,401 SH   SOLE 0 270,401 0 0
DCB FINANCIAL CORP COM STK COM 233075100 2,766 381,503 SH   SOLE 0 381,503 0 0
CHOICEONE FINANCIAL SERVICES I COM STK COM 170386106 2,724 115,002 SH   SOLE 0 115,002 0 0
RIVERVIEW BANCORP INC COM STK COM 769397100 2,669 593,101 SH   SOLE 0 593,101 0 0
EVANS BANCORP INC COM STK COM 29911Q208 2,658 107,187 SH   SOLE 0 107,187 0 0
PROVIDENT FINANCIAL HOLDINGS I COM STK COM 743868101 2,653 165,929 SH   SOLE 0 165,929 0 0
MERCHANTS BANCSHARES INC COM STK COM 588448100 2,620 89,831 SH   SOLE 0 89,831 0 0
SHORE BANCSHARES INC COM STK COM 825107105 2,307 251,286 SH   SOLE 0 251,286 0 0
1ST CENTY BK NATL ASSN COM STK COM 31943X102 2,291 334,833 SH   SOLE 0 334,833 0 0
MERCANTILE BANK CORP MI COM STK COM 587376104 2,258 115,486 SH   SOLE 0 115,486 0 0
Suncrest Bank (Visalia CA) Common Stock COM 86723G109 2,021 295,000 SH   SOLE 0 295,000 0 0
SOUTHERN MICH BANCORP INC COM STK COM 84336P103 1,905 86,378 SH   SOLE 0 86,378 0 0
UNITED SEC BANCSHARES CALIF COM STK COM 911460103 1,892 352,364 SH   SOLE 0 352,364 0 0
CENTRAL FEDERAL CORP COM STK COM 15346Q202 1,840 1,314,449 SH   SOLE 0 1,314,449 0 0
FNB BANCORP CALIF COM STK COM 302515101 1,781 64,538 SH   SOLE 0 64,538 0 0
F & M BANK CORP COM STK COM 30237P106 1,736 86,782 SH   SOLE 0 86,782 0 0
Grand River Commerce Inc. Common Stock COM 386441109 1,672 362,619 SH   SOLE 0 362,619 0 0
VERITEX HOLDINGS INC COM 923451108 975 69,800 SH   SOLE 0 69,800 0 0
NATIONAL COMMERC COM 63546L102 549 25,000 SH   SOLE 0 25,000 0 0
FARMERS & MERCHANTS STATE BANK COM STK COM 30779N105 231 8,887 SH   SOLE 0 8,887 0 0
FIRST OF LONG ISLAND CORP COM STK COM 320734106 194 7,600 SH   SOLE 0 7,600 0 0
SUFFOLK BANCORP COM STK COM 864739107 30 1,246 SH   SOLE 0 1,246 0 0
PRESIDIO BANK COM 74101A100 5 400 SH   SOLE 0 400 0 0