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
1st Source Corp COM 336901103 1,753,050 43,500 SH   SOLE 0 43,500 0 0
Altabancorp COM 021347109 1,097,255 39,300 SH   SOLE 0 39,300 0 0
ACNB Corp COM 000868109 375,000 15,000 SH   SOLE 0 15,000 0 0
Alerus Finacial Corp COM 01446U103 3,284,399 120,000 SH   SOLE 0 120,000 0 0
Allegiance Bancshares Inc COM 01748H107 1,331,070 39,000 SH   SOLE 0 39,000 0 0
American National Bankshares Inc COM 027745108 196,575 7,500 SH   SOLE 0 7,500 0 0
Bancorp Inc COM 05969A105 4,464,039 327,036 SH   SOLE 0 327,036 0 0
Banner Corporation COM 06652V208 2,218,753 47,623 SH   SOLE 0 47,623 0 0
BancFirst Corp COM 05945F103 3,541,370 60,330 SH   SOLE 0 60,330 0 0
Bank of Marin Bancorp COM 063425102 1,723,868 50,200 SH   SOLE 0 50,200 0 0
Bank of South Carolina Corp COM 065066102 42,558 2,655 SH   SOLE 0 2,655 0 0
Bankwell Finl Group Inc COM 06654A103 703,800 36,000 SH   SOLE 0 36,000 0 0
Bridgewater Bancshares Inc. COM 108621103 2,062,186 165,107 SH   SOLE 0 165,107 0 0
Bryn Mawr Bk Corp COM 117665109 1,116,716 36,500 SH   SOLE 0 36,500 0 0
CSB Bancorp, Inc. COM 12628R107 175,000 5,000 SH   SOLE 0 5,000 0 0
Cambridge Bancorp COM 132152109 348,750 5,000 SH   SOLE 0 5,000 0 0
Century Bancorp Inc Mass CL A NON VTG 156432106 2,320,800 30,000 SH   SOLE 0 30,000 0 0
CNB Financial Corp COM 126128107 150,328 7,061 SH   SOLE 0 7,061 0 0
CommerceWest Bank COM 20084T103 2,623,050 130,500 SH   SOLE 0 130,500 0 0
Connectone Bancorp Inc NEW COM 20786W107 2,572,700 130,000 SH   SOLE 0 130,000 0 0
Central Pacific Finacial Corp COM 154760409 253,460 13,333 SH   SOLE 0 13,333 0 0
Eagle Financial Services COM 26951R104 308,452 10,456 SH   SOLE 0 10,456 0 0
Fidelity D & D Bancorp COM 31609R100 257,440 4,000 SH   SOLE 0 4,000 0 0
First Busey Corp COM NEW 319383204 1,271,450 59,000 SH   SOLE 0 59,000 0 0
Flagstar Bancorp Inc COM 337930101 1,326,533 32,545 SH   SOLE 0 32,545 0 0
First Bus Finl Svcs Inc Wis COM 319390100 920,500 50,000 SH   SOLE 0 50,000 0 0
First Choice Bancorp COM 31948P104 305,085 16,500 SH   SOLE 0 16,500 0 0
First Fndtn Inc COM 32026V104 2,440,000 122,000 SH   SOLE 0 122,000 0 0
Farmers National Banc Corp COM 309627107 286,034 21,555 SH   SOLE 0 21,555 0 0
First Mid Bancshares Inc. COM 320866106 673,200 20,000 SH   SOLE 0 20,000 0 0
FVCBankcorp Inc COM 36120Q101 648,270 44,100 SH   SOLE 0 44,100 0 0
German Amern Bancorp Inc COM 373865104 2,432,114 73,500 SH   SOLE 0 73,500 0 0
Horizon Bancorp Inc COM 440407104 1,823,900 115,000 SH   SOLE 0 115,000 0 0
Kentucky Bancshares COM 491203105 291,235 15,700 SH   SOLE 0 15,700 0 0
Lakeland Finl Corp COM 511656100 4,827,557 90,100 SH   SOLE 0 90,100 0 0
Level One Bancorp Inc COM 52730D208 1,462,628 72,300 SH   SOLE 0 72,300 0 0
Mercantile Bank Corp COM 587376104 1,358,500 50,000 SH   SOLE 0 50,000 0 0
Meta Finl Group Inc COM 59100U108 6,896,311 188,630 SH   SOLE 0 188,630 0 0
National Bankshares Inc COM 634865109 155,141 4,955 SH   SOLE 0 4,955 0 0
Northrim BanCorp Inc COM 666762109 210,490 6,200 SH   SOLE 0 6,200 0 0
Oak Valley Bancorp Oakdale C COM 671807105 459,709 27,660 SH   SOLE 0 27,660 0 0
Oceanfirst Financial Corp. COM 675234108 372,600 20,000 SH   SOLE 0 20,000 0 0
Pacific Premier Bancorp COM 69478X105 3,178,647 101,457 SH   SOLE 0 101,457 0 0
Regions Financial Corp COM 7591EP100 3,269,860 202,845 SH   SOLE 0 202,845 0 0
Riverview Bancorp Incorporated COM 769397100 263,000 50,000 SH   SOLE 0 50,000 0 0
Sandy Spring Bancorp Inc COM 800363103 1,310,133 40,700 SH   SOLE 0 40,700 0 0
Seacost BKG Corporation COM 811707306 2,867,281 97,361 SH   SOLE 0 97,361 0 0
SVB Finacial Group COM 78486Q101 4,557,001 11,750 SH   SOLE 0 11,750 0 0
Southern National Bancorp of VA COM 843395104 242,200 20,000 SH   SOLE 0 20,000 0 0
Signature Bank COM 82669G104 1,907,589 14,100 SH   SOLE 0 14,100 0 0
Stock Yds Bancorp Inc COM 861025104 2,868,412 70,860 SH   SOLE 0 70,860 0 0
Summit St Bk Santa Rosa Cali COM 866264203 215,680 16,000 SH   SOLE 0 16,000 0 0
Tompkins Financial Corporati COM 890110109 1,171,959 16,600 SH   SOLE 0 16,600 0 0
TowneBank Portsmouth VA COM 89214P109 1,901,880 81,000 SH   SOLE 0 81,000 0 0
Trico Bancshares COM 896095106 254,016 7,200 SH   SOLE 0 7,200 0 0
University Bancorp COM 914090105 502,400 40,000 SH   SOLE 0 40,000 0 0
West Bancorporation Inc CAP STK 95123P106 1,797,119 93,115 SH   SOLE 0 93,115 0 0
Wintrust Finacial Corp COM 97650W108 5,096,614 83,428 SH   SOLE 0 83,428 0 0
WSFS Financial Corp COM 929328102 897,600 20,000 SH   SOLE 0 20,000 0 0
SPDR S&P Regional Banking Com 78464A698 791,718 15,240 SH   SOLE 0 15,240 0 0
Zions Bancorporation COM 989701107 2,054,712 47,300 SH   SOLE 0 47,300 0 0