-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, LD0C76moTAkIYPe2hW6Zzfv7AjZqPpliN9N8l2iDCp/JPo+u2EhHWSeNZAmfA73Y 6Ul7p9uOulESeNYD7GVrSQ== 0001010549-09-000738.txt : 20091106 0001010549-09-000738.hdr.sgml : 20091106 20091106173058 ACCESSION NUMBER: 0001010549-09-000738 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20091106 DATE AS OF CHANGE: 20091106 GROUP MEMBERS: ERIC D. HOVDE GROUP MEMBERS: FINANCIAL INSTITUTION PARTNERS III, LP GROUP MEMBERS: FINANCIAL INSTITUTION PARTNERS IV, LP GROUP MEMBERS: FINANCIAL INSTITUTION PARTNERS MASTER FUND, LP FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: HOVDE CAPITAL ADVISORS LLC CENTRAL INDEX KEY: 0001214916 IRS NUMBER: 030430205 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G MAIL ADDRESS: STREET 1: 1824 JEFFERSON PLACE NW CITY: WASHINGTON STATE: DC ZIP: 20036 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CALIFORNIA COASTAL COMMUNITIES INC CENTRAL INDEX KEY: 0000840216 STANDARD INDUSTRIAL CLASSIFICATION: OPERATIVE BUILDERS [1531] IRS NUMBER: 020426634 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-39991 FILM NUMBER: 091165909 BUSINESS ADDRESS: STREET 1: 6 EXECUTIVE CIRCLE STREET 2: SUITE 250 CITY: IRVIN STATE: CA ZIP: 92614 BUSINESS PHONE: 9492507700 MAIL ADDRESS: STREET 1: 6 EXECUTIVE CIRCLE STREET 2: SUITE 250 CITY: IRVIN STATE: CA ZIP: 92614 FORMER COMPANY: FORMER CONFORMED NAME: KOLL REAL ESTATE GROUP INC DATE OF NAME CHANGE: 19931006 FORMER COMPANY: FORMER CONFORMED NAME: BOLSA CHICA CO/ DATE OF NAME CHANGE: 19921229 FORMER COMPANY: FORMER CONFORMED NAME: HENLEY PROPERTIES INC DATE OF NAME CHANGE: 19920727 SC 13G 1 hovde13g110509.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G UNDER THE EXCHANGE ACT OF 1934 CALIFORNIA COASTAL COMMUNITIES INC. - ----------------------------------------------------------------------------- (Name of Issuer) Common Stock, $0.05 par value per share - ----------------------------------------------------------------------------- (Title of Class of Securities) 129915203 - ----------------------------------------------------------------------------- (CUSIP Number) OCTOBER 28, 2009 - ----------------------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ ] Rule 13d-1(b) [X] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). - -------------------------------------------------------------------------------- CUSIP NUMBER 129915203 - -------------------------------------------------------------------------------- 1. NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Hovde Capital Advisors LLC / 03-0430205 - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION Organized: State of Delaware - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES BENEFICIALLY OWNED BY 0 EACH ---------------------------------------------- REPORTING 6. SHARED VOTING POWER PERSON WITH: 1,244,243 shares ---------------------------------------------- 7. SOLE DISPOSITIVE POWER 0 ---------------------------------------------- 8. SHARED DISPOSITIVE POWER 1,244,243 shares - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,244,243 shares (FN1) - -------------------------------------------------------------------------------- 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see Instructions).[ ] - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11.32% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON IA - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- CUSIP NUMBER 129915203 - -------------------------------------------------------------------------------- 1. NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Financial Institution Partners Master Fund LP / 98-0605530 - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION Organized: Cayman Islands - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES BENEFICIALLY OWNED BY 0 EACH ---------------------------------------------- REPORTING 6. SHARED VOTING POWER PERSON WITH: 1,040,902 shares ---------------------------------------------- 7. SOLE DISPOSITIVE POWER 0 ---------------------------------------------- 8. SHARED DISPOSITIVE POWER 1,040,902 shares - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,040,902 shares (FN1) - -------------------------------------------------------------------------------- 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see Instructions).[ ] - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 9.47% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- CUSIP NUMBER 129915203 - -------------------------------------------------------------------------------- 1. NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Financial Institution Partners III, LP / 52-2199979 - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION Organized: Delaware - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES BENEFICIALLY OWNED BY 0 EACH ---------------------------------------------- REPORTING 6. SHARED VOTING POWER PERSON WITH: 167,662 shares ---------------------------------------------- 7. SOLE DISPOSITIVE POWER 0 ---------------------------------------------- 8. SHARED DISPOSITIVE POWER 167,662 shares - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 167,662 shares (FN1) - -------------------------------------------------------------------------------- 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see Instructions).[ ] - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 1.52% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- CUSIP NUMBER 129915203 - -------------------------------------------------------------------------------- 1. NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Financial Institution Partners IV, LP / 54-2075038 - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION Organized: Delaware - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES BENEFICIALLY OWNED BY 0 EACH ---------------------------------------------- REPORTING 6. SHARED VOTING POWER PERSON WITH: 35,679 shares ---------------------------------------------- 7. SOLE DISPOSITIVE POWER 0 ---------------------------------------------- 8. SHARED DISPOSITIVE POWER 35,679 shares - -------------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 35,679 shares (FN1) - -------------------------------------------------------------------------------- 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see Instructions).[ ] - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0.32% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- CUSIP NUMBER 129915203 - -------------------------------------------------------------------------------- 1. NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Eric D. Hovde - -------------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 5. SOLE VOTING POWER SHARES BENEFICIALLY OWNED BY 0 EACH ---------------------------------------------- REPORTING 6. SHARED VOTING POWER PERSON WITH: 1,244,243 shares ---------------------------------------------- 7. SOLE DISPOSITIVE POWER 0 ---------------------------------------------- 8. SHARED DISPOSITIVE POWER 1,244,243 shares - ----------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,244,243 shares (FN1) - -------------------------------------------------------------------------------- 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (see Instructions).[ ] - -------------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11.32% - -------------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------------- FN 1. This Schedule 13G is being filed by the Reporting Persons (as defined below) with respect to 1,244,243 shares (the "Reported Shares") of common stock of California Coastal Communities, Inc., par value $0.05 (the "Shares"), which constitutes approximately 11.32% of the issued and outstanding Shares. For purposes hereof, the term "Reporting Persons" means Eric D. Hovde, a citizen of the United States ("EDH"), Hovde Capital Advisors LLC, a Delaware limited liability company (the "Investment Manager"), Financial Institution Partners Master Fund, L.P., a Cayman Islands exempted limited partnership ("FIP Master Fund"), Financial Institution Partners III, L.P., a Delaware limited partnership ("FIP III"), and Financial Institution Partners IV, L.P., a Delaware limited partnership ("FIP IV"). Hovde Capital I, LLC, a Delaware limited liability company ("HC1") is the general partner of FIP Master Fund. Hovde Capital, Ltd., a Nevada limited liability company ("HCLTD") is the general partner of FIP III. Hovde Capital Limited IV, LLC, a Delaware limited liability company ("HCLTDIV") is the general partner of FIP IV. EDH is a managing member of the Investment Manager and each of the general partners of FIP Master Fund, FIP III, and FIP IV (collectively, the "General Partners"). The General Partners have delegated voting and dispositive power over the Shares to the Investment Manager. The Investment Manager provides investment management services to FIP Master Fund, FIP III and FIP IV. Item 1(a). Name of Issuer: California Coastal Communities, Inc. (the "Issuer"). Item 1(b). Address of Issuer's Principal Executive Offices: 6 Executive Circle, Suite 250, Irvine, California 92614. Item 2 (a). Name of Person Filing Hovde Capital Advisors LLC Financial Institution Partners Master Fund, L.P Financial Institution Partners III, L.P. Financial Institution Partners IV, L.P. Eric D. Hovde The foregoing persons are hereinafter sometimes collectively referred to as the "Reporting Persons." Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. (b). Address of Principal Business Office or, if None, Residence: The address of the principal business office of each of Reporting Persons listed above is: 1826 Jefferson Place, N.W., Washington, D.C. 20036. (c). Citizenship: Hovde Capital Advisors LLC, Delaware Financial Institution Partners Master Fund, L.P., Cayman Islands Financial Institution Partners III, L.P., Delaware Financial Institution Partners IV, L.P., Delaware Eric D. Hovde, United States (d). Title of Class of Securities: Common stock, par value $0.05 per share (the "Common Stock"). (e). CUSIP Number: The CUSIP number of the Common Stock is 129915203. Item 3: If this statement is filed pursuant to sections 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a)[ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b)[ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c)[ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d)[ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C.80a-8). (e)[ ] An investment adviser in accordance with Section 240.13d- 1(b)(1)(ii)(E); (f)[ ] An employee benefit plan or endowment fund in accordance with section 240.13d-1(b)(1)(ii)(F); (g)[ ] A parent holding company or control person in accordance with section 240.13d-1(b)(1)(ii)(G); (h)[ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i)[ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j)[ ] Group, in accordance with section 240.13d-1(b)(1)(ii)(J). Item 4. Ownership: This Schedule 13G is being filed by Financial Institution Partners Master Fund, L.P., a Cayman Islands exempted limited partnership (hereinafter referred to the "FIP Master Fund"), Financial Institution Partners III, L.P., a Delaware limited partnership (hereinafter referred to as "FIP III"), Financial Institution Partners IV, L.P., a Delaware limited partnership (hereinafter referred to as "FIP IV", and together with the FIP Master Fund and FIP III, the "Funds"), Hovde Capital Advisors LLC, a Delaware limited liability company (hereinafter referred to as "Investment Manager"), and Eric D. Hovde (hereinafter referred to as "EDH"). HC1 is the general partner to the FIP Master Fund, and as such may be deemed to be the beneficial owner of all shares held by the FIP Master Fund. HCLTD is the general partner to FIP III, and as such may be deemed to be the beneficial owner of all shares held by FIP III. HCLTDIV is the general partner to FIP IV, and as such may be deemed to be the beneficial owner of all shares held by FIP IV. The Investment Manager is the investment manager of each of the FIP Master Fund, FIP III, and FIP IV, and as such may be deemed to be the beneficial owner of all shares held by the Funds. EDH is a managing member of the Investment Manager and the General Partners, and as such may be deemed to be the beneficial owner of all shares held by the Funds. As a result, the beneficial ownership of Common Stock by the Reporting Persons, as of the date of this Schedule 13G, is as follows: Hovde Capital Advisors LLC (a) Amount beneficially owned: 1,244,243. (b) Percent of class: 11.32%. (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0. (ii) Shared power to vote or direct the vote: 1,244,243. (iii) Sole power to dispose or to direct the disposition of: 0. (iv) Shared power to dispose or to direct the disposition of: 1,244,243. Financial Institution Partners Master Fund, L.P. (a) Amount beneficially owned: 1,040,902. (b) Percent of class: 9.47%. (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0. (ii) Shared power to vote or direct the vote: 1,040,902. (iii) Sole power to dispose or to direct the disposition of: 0. (iv) Shared power to dispose or to direct the disposition of: 1,040,902. Financial Institution Partners III, L.P. (a) Amount beneficially owned: 167,662 (b) Percent of class: 1.52%. (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0. (ii) Shared power to vote or direct the vote: 167,662. (iii) Sole power to dispose or to direct the disposition of: 0. (iv) Shared power to dispose or to direct the disposition of: 167,662. Financial Institution Partners IV, L.P. (a) Amount beneficially owned: 35,679. (b) Percent of class: 0.32%. (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0. (ii) Shared power to vote or direct the vote: 35,679. (iii) Sole power to dispose or to direct the disposition of: 0. (iv) Shared power to dispose or to direct the disposition of: 35,679. Eric D. Hovde (a) Amount beneficially owned: 1,244,243. (b) Percent of class: 11.32%. (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 0. (ii) Shared power to vote or direct the vote: 1,244,243. (iii) Sole power to dispose or to direct the disposition of: 0. (iv) Shared power to dispose or to direct the disposition of: 1,244,243. Each of the Reporting Persons disclaims beneficial ownership of the Shares except to the extent of its pecuniary interest therein. Item 5. Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the Reporting Persons have ceased to be the beneficial owner of more than five percent of the class of securities, check the following [ ]. Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person: Not Applicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company Not Applicable Item 8. Identification and Classification of Members of the Group Not Applicable Item 9. Notice of Dissolution of Group Not Applicable Item 10. Certification By signing below the undersigned certifies that, to the best of its or his knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. Exhibits Exhibit A - Joint Filing Agreement dated November 6, 2009. SIGNATURE After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. 11/06/2009 ---------------------------- Date HOVDE CAPITAL ADVISORS LLC BY: /s/ Eric D. Hovde ---------------------------- Eric D. Hovde Its: Managing Member FINANCIAL INSTITUTION PARTNERS MASTER FUND, L.P. By: Hovde Capital I, LLC, its general partner BY: /s/ Eric D. Hovde ---------------------------- Eric D. Hovde Its: Managing Member FINANCIAL INSTITUTION PARTNERS III, L.P. By: Hovde Capital, Ltd, its general partner BY: /s/ Eric D. Hovde ---------------------------- Eric D. Hovde Its: Managing Member FINANCIAL INSTITUTION PARTNERS IV, L.P. By: Hovde Capital Limited IV, LLC, its general partner BY: /s/ Eric D. Hovde ---------------------------- Eric D. Hovde Its: Managing Member ERIC D. HOVDE BY: /s/ Eric D. Hovde ---------------------------- Eric D. Hovde Exhibit A JOINT FILING AGREEMENT PURSUANT TO RULE 13d-1(k)(1) The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that it knows or has reason to believe that such information is inaccurate. This Agreement may be executed in any number of counterparts and all of such counterparts taken together shall constitute one and the same instrument. Date: November 6, 2009 HOVDE CAPITAL ADVISORS LLC BY: /s/ Eric D. Hovde ---------------------------- Eric D. Hovde Its: Managing Member FINANCIAL INSTITUTION PARTNERS MASTER FUND, L.P. By: Hovde Capital I, LLC, its general partner BY: /s/ Eric D. Hovde ---------------------------- Eric D. Hovde Its: Managing Member FINANCIAL INSTITUTION PARTNERS III, L.P. By: Hovde Capital, Ltd, its general partner BY: /s/ Eric D. Hovde ---------------------------- Eric D. Hovde Its: Managing Member FINANCIAL INSTITUTION PARTNERS IV, L.P. By: Hovde Capital Limited IV, LLC, its general partner BY: /s/ Eric D. Hovde ---------------------------- Eric D. Hovde Its: Managing Member ERIC D. HOVDE BY: /s/ Eric D. Hovde ---------------------------- Eric D. Hovde -----END PRIVACY-ENHANCED MESSAGE-----