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

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COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
BANC CALIF INCCOM05990K10617,0101,560,534SH SOLE 01,560,5340
BANCFIRST CORPCOM05945F10319,089308,382SH SOLE 0308,3820
BANCORPSOUTH INCCOM05969210331,7031,290,317SH SOLE 01,290,3170
BANKUNITED INCCOM06652K10331,938953,946SH SOLE 0953,9460
BANNER CORPCOM NEW06652V20839,9391,007,787SH SOLE 01,007,7870
BNC BANCORPCOM05566T1015,695333,597SH SOLE 0333,5970
CALLAWAY GOLF COCOM1311931041,331160,000SH SOLE 160,00000
CARDINAL FINL CORPCOM14149F10912,636684,493SH SOLE 0684,4930
CENTERSTATE BANKS INCCOM15201P10931,6972,830,057SH SOLE 02,830,0570
CLEARFIELD INCCOM18482P1031,19471,117SH SOLE 71,11700
CLICKSOFTWARE TECHNOLOGIES LORDM2508210448159,600SH SOLE 59,60000
COLUMBIA BKG SYS INCCOM19723610239,5061,501,576SH SOLE 01,501,5760
COLUMBUS MCKINNON CORP N YCOM1993331051,22245,177SH SOLE 45,17700
COMERICA INCCOM20034010740,685811,099SH SOLE 0811,0990
DENBURY RES INCCOM NEW2479162083,627196,500SH SOLE 196,50000
EAGLE BANCORP INC MDCOM26894810634,6151,025,632SH SOLE 01,025,6320
FIDELITY NATIONAL FINANCIALCL A31620R10535710,890SH SOLE 10,89000
FIDELITY SOUTHERN CORP NEWCOM31639410512,479960,659SH SOLE 0960,6590
FIRST CONN BANCORP INC MDCOM31985010316,4491,024,856SH SOLE 01,024,8560
FIRST SEC GROUP INCCOM NEW3363122029,5674,408,847SH SOLE 04,408,8470
FURMANITE CORPORATIONCOM3610861011,467126,000SH SOLE 126,00000
GENERAL MLS INCCOM3703341041,35825,844SH SOLE 25,84400
GLACIER BANCORP INC NEWCOM37637Q10524,143850,709SH SOLE 0850,7090
HANCOCK HLDG COCOM41012010935,3291,000,245SH SOLE 01,000,2450
HERITAGE FINL CORP WASHCOM42722X10635,3752,198,590SH SOLE 02,198,5900
HOME BANCSHARES INCCOM43689320024,306740,572SH SOLE 0740,5720
IBERIABANK CORPCOM45082810842,361612,247SH SOLE 0612,2470
INFINITY PPTY & CAS CORPCOM45665Q1032,47136,761SH SOLE 36,76100
ISHARESMSCI EAFE ETF4642874656159,000SH SOLE 9,00000
ISHARESSELECT DIVID ETF46428716896212,500SH SOLE 12,50000
JOHNSON & JOHNSONCOM4781601042,18120,850SH SOLE 20,85000
KNOWLES CORPCOM49926D1094,735154,023SH SOLE 154,02300
LIBBEY INCCOM5298981082,815105,666SH SOLE 105,66600
MACQUARIE INFRASTR CO LLCMEMBERSHIP INT55608B1055,23883,983SH SOLE 83,98300
NATIONAL BK HLDGS CORPCL A63370710436,0991,810,379SH SOLE 01,810,3790
OLD NATL BANCORP INDCOM68003310721,7841,525,493SH SOLE 01,525,4930
PINNACLE FINL PARTNERS INCCOM72346Q10413,122277,971SH SOLE 0277,9710
PINNACLE FOODS INC DELCOM72348P1041,98860,439SH SOLE 60,43900
PLUM CREEK TIMBER CO INCCOM7292511081,17526,047SH SOLE 26,04700
PNC FINL SVCS GROUP INCCOM69347510541,242463,131SH SOLE 0463,1310
POWERSHARES ETF TRUSTINTL DIV ACHV73935X7161,06355,000SH SOLE 55,00000
PROCTER & GAMBLE COCOM7427181091,85223,565SH SOLE 23,56500
REGIONS FINL CORP NEWCOM7591EP10043,6204,107,420SH SOLE 04,107,4200
SANDY SPRING BANCORP INCCOM80036310344,5951,790,235SH SOLE 01,790,2350
SHOE CARNIVAL INCCOM8248891092,148104,032SH SOLE 104,03200
South State CorpCOM84044110946,133756,279SH SOLE 0756,2790
SQUARE 1 FINL INCCL A85223W1017,935417,400SH SOLE 0417,4000
STATE BK FINL CORPCOM85619010317,5121,035,707SH SOLE 01,035,7070
SUNCOR ENERGY INC NEWCOM8672241076,047141,838SH SOLE 141,83800
SUNTRUST BKS INCCOM86791410329,497736,323SH SOLE 0736,3230
SUSSER PETE PARTNERS LPCOM U REP LP8692391036,391136,176SH SOLE 136,17600
TEAM INCCOM8781551001,60839,201SH SOLE 39,20100
TORTOISE MLP FD INCCOM89148B1012398,000SH SOLE 8,00000
TRISTATE CAP HLDGS INCCOM89678F10012,935915,447SH SOLE 0915,4470
TRONOX LTDSHS CL AQ9235V1013,950146,853SH SOLE 146,85300
UMB FINL CORPCOM90278810842,641672,672SH SOLE 0672,6720
UMPQUA HLDGS CORPCOM90421410328,2601,577,014SH SOLE 01,577,0140
UNION BANKSHARES CORP NEWCOM90539J10928,7961,122,635SH SOLE 01,122,6350
UNITED CMNTY BANCORP INDCOM90984R10187274,167SH SOLE 74,16700
UNITED PARCEL SERVICE INCCL B9113121061,44714,092SH SOLE 14,09200
VANGUARD WORLD FDSINF TECH ETF92204a7022322,400SH SOLE 2,40000
WASTE MGMT INC DELCOM94106L1091,70138,030SH SOLE 38,03000