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
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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
3M Co COM 88579Y101 2,814 17,118 SH   SOLE   0 0 17,118
Alexandria Real COM 015271109 285 1,850 SH   DFND   1,850 0 0
Allstate Corp COM 020002101 2,427 22,334 SH   SOLE   0 0 22,334
American Tower-A ADR 03027X100 553 2,500 SH   DFND   2,500 0 0
Amgen Inc COM 031162100 3,416 17,655 SH   SOLE   0 0 17,655
Apple Inc COM 037833100 587 2,623 SH   SOLE   0 0 2,623
Apple Inc COM 037833100 672 3,000 SH   DFND   3,000 0 0
Artesian Resource Corp COM 043113208 3,097 83,692 SH   SOLE   0 0 83,692
Astrazeneca-Adr ADR 046353108 357 8,000 SH   DFND   8,000 0 0
AT&T Inc COM 00206R102 243 6,413 SH   SOLE   0 0 6,413
Automatic Data Processing COM 053015103 239 1,483 SH   SOLE   0 0 1,483
Avalonbay Commun COM 053484101 280 1,300 SH   DFND   1,300 0 0
Banco Santan-Adr ADR 05964H105 81 20,162 SH   DFND   20,162 0 0
Bank Of America Corporation COM 060505104 525 17,988 SH   SOLE   0 0 17,988
Beasley Broadcast Grp Inc COM 074014101 68 22,000 SH   DFND   22,000 0 0
Blackrock Intern L Grth & Inc Common COM 092524107 2,744 505,268 SH   SOLE   0 0 505,268
Blackrock Muniyield Qty Iii COM 09254E103 1,151 84,851 SH   SOLE   0 0 84,851
Bp Plc-Adr ADR 055622104 525 13,816 SH   DFND   13,816 0 0
Cabot Microelectronics Corp COM 12709P103 1,214 8,595 SH   SOLE   0 0 8,595
Cemex Sab-Sp Adr ADR 151290889 137 35,000 SH   DFND   35,000 0 0
Chase Corp COM 16150R104 5,760 52,653 SH   SOLE   0 0 52,653
Chevron Corp COM 166764100 297 2,500 SH   DFND   2,500 0 0
Cimarex Energy Co COM 171798101 1,596 33,293 SH   SOLE   0 0 33,293
Compania Cervecerias -Adr ADR 204429104 320 14,401 SH   DFND   14,401 0 0
Consumer Discret Sel Sect Spdr(R) Etf COM 81369Y407 4,848 40,162 SH   SOLE   0 0 40,162
Consumer Staples Select Sector Spdr(R) Etf COM 81369Y308 3,873 63,049 SH   SOLE   0 0 63,049
Covanta Holding Corp COM 22282E102 2,680 155,022 SH   SOLE   0 0 155,022
Crown Castle Int COM 22822V101 278 2,000 SH   DFND   2,000 0 0
Csx Corp COM 126408103 4,407 63,626 SH   SOLE   0 0 63,626
Cvs Health Corp COM 126650100 1,371 21,736 SH   SOLE   0 0 21,736
Cyrusone, Inc. COM 23283R100 411 5,200 SH   DFND   5,200 0 0
Dentsply Sirona Inc COM 24906P109 267 5,000 SH   DFND   5,000 0 0
Diageo Plc-Adr ADR 25243Q205 458 2,800 SH   DFND   2,800 0 0
Digital Realty COM 253868103 278 2,141 SH   DFND   2,141 0 0
Duke Energy Corporation COM 26441C204 216 2,254 SH   SOLE   0 0 2,254
Energy Select Sector Spdr(R) Etf COM 81369Y506 2,325 39,267 SH   SOLE   0 0 39,267
Enterprise Products Partners Lp COM 293792107 1,954 68,355 SH   SOLE   0 0 68,355
Essex Property COM 297178105 294 900 SH   DFND   900 0 0
Everest Re Group Ltd COM G3223R108 3,233 12,149 SH   SOLE   0 0 12,149
Extra Space Stor COM 30225T102 292 2,500 SH   DFND   2,500 0 0
Exxon Mobil Corporation COM 30231G102 1,825 25,851 SH   SOLE   0 0 25,851
Fs Bancorp Inc COM 30263Y104 248 4,731 SH   DFND   4,731 0 0
Genesee & Wyomin COM 371559105 249 2,250 SH   DFND   2,250 0 0
Glaxosmithkl-Adr ADR 37733W105 363 8,500 SH   DFND   8,500 0 0
Global Self Storage Inc COM 37955N106 124 26,000 SH   DFND   26,000 0 0
Goldman Sachs Activebeta(R) Intl Eq Etf COM 381430107 7,543 266,630 SH   SOLE   0 0 266,630
Goldman Sachs Activebeta(R) Us Lgcp Eq Etf COM 381430503 3,574 59,671 SH   SOLE   0 0 59,671
Granite Point Mortgage COM 38741L107 225 12,000 SH   DFND   12,000 0 0
Group 1 Automoti COM 398905109 369 4,000 SH   DFND   4,000 0 0
Grupo Televisa - Adr ADR 40049J206 147 15,000 SH   DFND   15,000 0 0
Hannon Armstrong COM 41068X100 222 7,600 SH   DFND   7,600 0 0
Hdfc Bank Ltd - Adr ADR 40415F101 456 8,000 SH   DFND   8,000 0 0
Ing Groep-Adr ADR 456837103 105 10,000 SH   DFND   10,000 0 0
Ingles Markets Inc COM 457030104 3,353 86,283 SH   SOLE   0 0 86,283
Inseego Corp COM 45782B104 58 12,000 SH   SOLE   0 0 12,000
Intercontinental Hotels COM 45857P806 256 4,103 SH   DFND   4,103 0 0
International Business Machines Corp COM 459200101 206 1,417 SH   SOLE   0 0 1,417
Invesco Bulletshares 2023 Corp Bd Etf COM 46138J866 2,325 109,201 SH   SOLE   0 0 109,201
Invesco China Real Estate COM 46138E602 210 8,500 SH   DFND   8,500 0 0
Invesco Muni Opps. Trust Common COM 46132C107 1,131 90,410 SH   SOLE   0 0 90,410
Invesco S&P 500(R) Eq Weight Hc Etf COM 46137V332 3,972 20,269 SH   SOLE   0 0 20,269
Invesco S&P 500(R) Equal Weight Etf COM 46137V357 4,138 38,290 SH   SOLE   0 0 38,290
Invesco S&P Global Water Index Etf COM 46138E263 2,213 57,829 SH   SOLE   0 0 57,829
Iron Mountain Inc. COM 46284V101 233 7,200 SH   DFND   7,200 0 0
Ishares 0-5 Year High Yield Corp Bd COM 46434V407 236 5,075 SH   SOLE   0 0 5,075
Ishares Cali Amt-Free Muni Bond COM 464288356 578 9,436 SH   SOLE   0 0 9,436
Ishares Cohen & Steers Reit COM 464287564 2,923 24,354 SH   SOLE   0 0 24,354
Ishares Core S&P Mid-Cap COM 464287507 4,032 20,865 SH   SOLE   0 0 20,865
Ishares Core Us Aggregate Bond COM 464287226 1,555 13,739 SH   SOLE   0 0 13,739
Ishares Floating Rate Bond COM 46429B655 6,141 120,477 SH   SOLE   0 0 120,477
Ishares Global Healthcare COM 464287325 3,509 57,446 SH   SOLE   0 0 57,446
Ishares Global Tech Etf COM 464287291 2,181 11,790 SH   SOLE   0 0 11,790
Ishares Iboxx $ Invst Grade Crp Bond COM 464287242 1,644 12,894 SH   SOLE   0 0 12,894
Ishares Mbs COM 464288588 1,492 13,774 SH   SOLE   0 0 13,774
Ishares Msci Eafe COM 464287465 924 14,167 SH   SOLE   0 0 14,167
Ishares Msci Eafe Small-Cap COM 464288273 3,861 67,457 SH   SOLE   0 0 67,457
Ishares National Amt-Free Muni Bond COM 464288414 1,465 12,837 SH   SOLE   0 0 12,837
Ishares Russell 1000 COM 464287622 4,069 24,731 SH   SOLE   0 0 24,731
Ishares Russell 2000 COM 464287655 1,391 9,193 SH   SOLE   0 0 9,193
Ishares Russell Mid-Cap COM 464287499 2,812 50,267 SH   SOLE   0 0 50,267
Ishares Select Dividend COM 464287168 3,541 34,732 SH   SOLE   0 0 34,732
Ishares Short-Term National Muni Bond COM 464288158 763 7,165 SH   SOLE   0 0 7,165
James Hardie Ind Plc Adr ADR 47030M106 420 25,000 SH   DFND   25,000 0 0
Jh Financial Opportunities Common COM 409735206 3,145 97,773 SH   SOLE   0 0 97,773
Jhancock Multifactor Large Cap Etf COM 47804J107 1,256 32,689 SH   SOLE   0 0 32,689
Johnson & Johnson COM 478160104 2,376 18,364 SH   SOLE   0 0 18,364
Jpmorgan Chase COM 46625H100 247 2,100 SH   DFND   2,100 0 0
Jpmorgan Ultra-Short Income Etf COM 46641Q837 1,518 30,099 SH   SOLE   0 0 30,099
Kvh Industries COM 482738101 320 30,000 SH   DFND   30,000 0 0
Lennox Intl Inc COM 526107107 413 1,700 SH   DFND   1,700 0 0
Lowe S Companies Inc COM 548661107 2,380 21,646 SH   SOLE   0 0 21,646
Lowe'S Cos Inc COM 548661107 286 2,600 SH   DFND   2,600 0 0
Metlife Inc COM 59156R108 1,610 34,139 SH   SOLE   0 0 34,139
Microsoft Corp COM 594918104 341 2,450 SH   SOLE   0 0 2,450
Microsoft Corp COM 594918104 209 1,500 SH   DFND   2,450 0 0
Miller Ind Inc/Tenn COM 600551204 599 18,000 SH   DFND   18,000 0 0
National Retail COM 637417106 226 4,000 SH   DFND   4,000 0 0
National Western Life Insurance COM 638517102 2,852 10,628 SH   SOLE   0 0 10,628
Netapp Inc COM 64110D104 473 9,000 SH   DFND   9,000 0 0
New Residential Invmt COM 64828T201 157 10,000 SH   DFND   10,000 0 0
Nice Systems-Adr ADR 653656108 575 4,000 SH   DFND   4,000 0 0
Norfolk Southern COM 655844108 539 3,000 SH   DFND   3,000 0 0
Northwest Natural Hldg Co COM 66765N105 214 3,000 SH   DFND   3,000 0 0
Novartis Ag COM 66987V109 1,997 22,978 SH   SOLE   0 0 22,978
Nuveen Intermediate Duration Muni Term COM 670671106 1,788 130,222 SH   SOLE   0 0 130,222
Nxp Semiconductors Nv COM N6596X109 1,397 12,800 SH   SOLE   0 0 12,800
Old Republic International Corp COM 680223104 1,570 66,616 SH   SOLE   0 0 66,616
Orbcomm Inc COM 68555P100 95 20,000 SH   DFND   20,000 0 0
Pearson Plc COM 705015105 181 20,000 SH   DFND   20,000 0 0
Phillips 66 Com COM 718546104 1,627 15,888 SH   SOLE   0 0 15,888
Pimco Enhanced Short Maturity Etf COM 72201R833 6,246 61,397 SH   SOLE   0 0 61,397
Powershrs Bulletshares 2019 Corp Etf COM 46138J304 5,010 237,676 SH   SOLE   0 0 237,676
Powershrs Bulletshares 2019 Hy Corp Etf COM 46138J403 240 10,040 SH   SOLE   0 0 10,040
Powershrs Bulletshares 2020 Corp Etf COM 46138J502 5,792 271,915 SH   SOLE   0 0 271,915
Powershrs Bulletshares 2020 Hy Corp Etf COM 46138J601 725 30,262 SH   SOLE   0 0 30,262
Powershrs Bulletshares 2021 Corp Etf COM 46138J700 5,963 280,485 SH   SOLE   0 0 280,485
Powershrs Bulletshares 2022 Corp Etf COM 46138J882 3,334 155,129 SH   SOLE   0 0 155,129
Powershrs Bulletshares 2022 Hy Corp Etf COM 46138J874 4,066 166,837 SH   SOLE   0 0 166,837
Procter & Gamble COM 742718109 435 3,500 SH   DFND   3,500 0 0
Qualcomm Inc COM 747525103 404 5,302 SH   SOLE   0 0 5,302
Redwood Trust COM 758075402 249 15,192 SH   DFND   15,192 0 0
Regions Financial Corp COM 7591EP100 285 18,000 SH   DFND   18,000 0 0
Rgc Resources COM 74955L103 949 32,444 SH   SOLE   0 0 32,444
Royce Micro Cap Trust Common COM 780915104 2,714 337,571 SH   SOLE   0 0 337,571
Royce Value Trust Common COM 780910105 161 11,718 SH   SOLE   0 0 11,718
Ryman Hospitality Prop COM 78377T107 247 3,024 SH   DFND   3,024 0 0
Sba Communications Corp COM 78410G104 482 2,000 SH   DFND   2,000 0 0
Schwab Emerging Markets Equity Etf(TM) COM 808524706 311 12,360 SH   SOLE   0 0 12,360
Schwab Fundamental Us Large Company Etf COM 808524771 2,564 64,818 SH   SOLE   0 0 64,818
Schwab International Equity Etf(TM) COM 808524805 1,365 42,857 SH   SOLE   0 0 42,857
Schwab Us Aggregate Bond Etf(TM) COM 808524839 1,562 29,006 SH   SOLE   0 0 29,006
Schwab Us Mid-Cap Etf(TM) COM 808524508 1,626 28,762 SH   SOLE   0 0 28,762
Schwab Us Small-Cap Etf(TM) COM 808524607 1,530 21,936 SH   SOLE   0 0 21,936
Skyworks Solutio COM 83088M102 317 4,000 SH   DFND   4,000 0 0
Sony Corp Adr ADR 835699307 532 9,000 SH   DFND   4,000 0 0
Spdr(R) Blmbg Barclays St Corp Bd Etf COM 78464A474 5,860 189,967 SH   SOLE   0 0 189,967
Spdr(R) S&P 500 Etf COM 78462F103 366 1,234 SH   SOLE   0 0 1,234
Spdr(R) S&P Midcap 400 Etf COM 78467Y107 486 1,380 SH   SOLE   0 0 1,380
Store Capital COM 862121100 284 7,600 SH   DFND   7,600 0 0
Stryker Corporation COM 863667101 3,398 15,710 SH   SOLE   0 0 15,710
Tecnoglass Inc COM G87264100 205 25,200 SH   DFND   25,200 0 0
Templeton Emerging Markets COM 880191101 2,104 143,530 SH   SOLE   0 0 143,530
Thermo Fisher COM 883556102 583 2,000 SH   DFND   2,000 0 0
Tyson Foods Inc COM 902494103 1,826 21,199 SH   SOLE   0 0 21,199
Udr Inc COM 902653104 482 9,951 SH   SOLE   0 0 9,951
Unilever Nv-Nys COM 904784709 540 9,000 SH   DFND   9,000 0 0
United Therapeut COM 91307C102 219 2,750 SH   DFND   2,750 0 0
Valmont Industries Inc COM 920253101 3,249 23,470 SH   SOLE   0 0 23,470
Vanguard Ftse Developed Markets Etf COM 921943858 8,694 211,625 SH   SOLE   0 0 211,625
Vanguard Ftse Emerging Markets Etf COM 922042858 1,221 30,340 SH   SOLE   0 0 30,340
Vanguard High Dividend Yield Etf COM 921946406 1,220 13,752 SH   SOLE   0 0 13,752
Vanguard Information Technology Etf COM 92204A702 9,374 43,490 SH   SOLE   0 0 43,490
Vanguard S&P 500 Etf COM 922908363 330 1,210 SH   SOLE   0 0 1,210
Vanguard Short-Term Corporate Bond Etf COM 92206C409 1,471 18,145 SH   SOLE   0 0 18,145
Ventas Inc COM 92276F100 201 2,750 SH   DFND   2,750 0 0
Verizon Communications Inc COM 92343V104 219 3,631 SH   SOLE   0 0 3,631
Visa Inc Class A COM 92826C839 312 1,811 SH   SOLE   0 0 1,811
Voya Asia Pacific High Dividend Eq Inc COM 92912J102 1,470 173,296 SH   SOLE   0 0 173,296
Voya Financial Inc COM 929089100 2,658 48,825 SH   SOLE   0 0 48,825
Walt Disney Co COM 254687106 791 6,073 SH   SOLE   0 0 6,073
Walt Disney Co COM 254687106 391 3,000 SH   DFND   6,073 0 0
Wells Fargo & Co COM 949746101 210 4,161 SH   DFND   4,161 0 0
Western Asset Glb Corp Def Opp Common COM 95790C107 4,485 257,467 SH   SOLE   0 0 257,467
Western Asset High Income Opp COM 95766K109 4,729 936,455 SH   SOLE   0 0 936,455
Williams Companies Inc COM 969457100 1,182 49,110 SH   SOLE   0 0 49,110
Wp Carey Inc COM 92936U109 400 4,470 SH   DFND   4,470 0 0
Wpx Energy Inc COM 98212B103 243 22,944 SH   SOLE   0 0 22,944