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
AIR TRANSPORT SERVICES GRP I COM 00922R105 4,657 216,905 SH   SOLE 216,905 0 0
AMERIS BANCORP COM 03076K108 5,941 130,000 SH   SOLE 130,000 0 0
BANC OF CALIFORNIA INC COM 05990K106 16,652 881,052 SH   SOLE 881,052 0 0
BANNER CORP COM NEW 06652V208 16,178 260,225 SH   SOLE 260,225 0 0
BMC STK HLDGS INC COM 05591B109 3,399 182,258 SH   SOLE 182,258 0 0
CBTX INC COM 12481V104 8,874 249,700 SH   SOLE 249,700 0 0
CENTERSTATE BK CORP COM 15201P109 19,892 709,180 SH   SOLE 709,180 0 0
COBIZ FINANCIAL INC COM 190897108 6,712 303,157 SH   SOLE 303,157 0 0
COLUMBUS MCKINNON CORP N Y COM 199333105 3,897 98,565 SH   SOLE 98,565 0 0
COMERICA INC COM 200340107 14,780 163,854 SH   SOLE 163,854 0 0
ENCORE WIRE CORP COM 292562105 4,548 90,781 SH   SOLE 90,781 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 13,673 348,257 SH   SOLE 348,257 0 0
FB FINL CORP COM 30257X104 5,536 141,299 SH   SOLE 141,299 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 405 10,281 SH   SOLE 10,281 0 0
FIRST BANCORP N C COM 318910106 10,726 264,766 SH   SOLE 264,766 0 0
FIRST BANCSHARES INC MS COM 318916103 5,009 128,277 SH   SOLE 128,277 0 0
FIRST HORIZON NATL CORP COM 320517105 15,115 875,717 SH   SOLE 875,717 0 0
FIRST WESTN FINL INC COM 33751L105 3,760 215,000 SH   SOLE 215,000 0 0
GLACIER BANCORP INC NEW COM 37637Q105 11,067 256,829 SH   SOLE 256,829 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 12,679 426,913 SH   SOLE 426,913 0 0
HANCOCK WHITNEY CORPORATION COM 410120109 14,825 311,773 SH   SOLE 311,773 0 0
HERITAGE FINL CORP WASH COM 42722X106 14,489 412,196 SH   SOLE 412,196 0 0
IBERIABANK CORP COM 450828108 15,337 188,527 SH   SOLE 188,527 0 0
INVESCO EXCHANGE TRADED FD T INTL DIVI ACHI 46137V548 748 47,500 SH   SOLE 47,500 0 0
INVESTAR HLDG CORP COM 46134L105 10,796 402,080 SH   SOLE 402,080 0 0
ISHARES TR SELECT DIVID ETF 464287168 547 5,484 SH   SOLE 5,484 0 0
ISHARES TR MSCI EAFE ETF 464287465 612 9,000 SH   SOLE 9,000 0 0
JOHNSON & JOHNSON COM 478160104 421 3,050 SH   SOLE 3,050 0 0
KLX ENERGY SERVICS HOLDNGS I COM 48253L106 6,882 215,000 SH   SOLE 215,000 0 0
MACQUARIE INFRASTRUCTURE COR COM 55608B105 5,263 114,084 SH   SOLE 114,084 0 0
MISTRAS GROUP INC COM 60649T107 2,275 105,000 SH   SOLE 105,000 0 0
NATIONAL COMM CORP COM 63546L102 13,801 334,160 SH   SOLE 334,160 0 0
NEXEO SOLUTIONS INC COM SHS 65342H102 5,798 473,307 SH   SOLE 473,307 0 0
ORIGIN BANCORP INC COM 68621T102 5,648 150,000 SH   SOLE 150,000 0 0
PACWEST BANCORP DEL COM 695263103 10,702 224,587 SH   SOLE 224,587 0 0
PEOPLES UTAH BANCORP COM 712706209 14,754 434,589 SH   SOLE 434,589 0 0
PINNACLE FINL PARTNERS INC COM 72346Q104 15,078 250,665 SH   SOLE 250,665 0 0
REGIONS FINL CORP NEW COM 7591EP100 10,813 589,286 SH   SOLE 589,286 0 0
SANDY SPRING BANCORP INC COM 800363103 19,506 496,215 SH   SOLE 496,215 0 0
SMARTFINANCIAL INC COM NEW 83190L208 8,614 365,757 SH   SOLE 365,757 0 0
SOUTH ST CORP COM 840441109 11,753 143,324 SH   SOLE 143,324 0 0
SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 13,833 1,448,500 SH   SOLE 1,448,500 0 0
STONERIDGE INC COM 86183P102 1,783 60,000 SH   SOLE 60,000 0 0
SYNOVUS FINL CORP COM NEW 87161C501 13,467 294,112 SH   SOLE 294,112 0 0
TRIUMPH BANCORP INC COM 89679E300 17,878 468,007 SH   SOLE 468,007 0 0
UMPQUA HLDGS CORP COM 904214103 6,268 301,368 SH   SOLE 301,368 0 0
UNIVERSAL STAINLESS & ALLOY COM 913837100 6,266 245,640 SH   SOLE 245,640 0 0
VANGUARD INTL EQUITY INDEX F ALLWRLD EX US 922042775 482 9,263 SH   SOLE 9,263 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 501 11,456 SH   SOLE 11,456 0 0
VANGUARD WORLD FDS INF TECH ETF 92204a702 486 2,400 SH   SOLE 2,400 0 0
VERITEX HLDGS INC COM 923451108 15,724 556,417 SH   SOLE 556,417 0 0
WASTE MGMT INC DEL COM 94106L109 507 5,606 SH   SOLE 5,606 0 0
ZIONS BANCORPORATION COM 989701107 13,280 264,800 SH   SOLE 264,800 0 0