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
AMERIS BANCORP COM 03076K108 9,196 309,614 SH   SOLE   309,614 0 0
BNC BANCORP COM 05566T101 5,564 245,000 SH   SOLE   245,000 0 0
BRIDGE BANCORP INC COM 108035106 4,602 162,039 SH   SOLE   162,039 0 0
CASCADE BANCORP COM NEW 147154207 882 159,154 SH   SOLE   159,154 0 0
CHERRY HILL MTG INVT CORP COM 164651101 2,256 144,900 SH   SOLE   144,900 0 0
CIVISTA BANCSHARES INC COM NO PAR 178867107 2,620 200,000 SH   SOLE   200,000 0 0
COMERICA INC *W EXP 11/14/201 200340115 4,534 348,740 SH   SOLE   348,740 0 0
COMMUNITY BANKERS TR CORP COM 203612106 8,288 1,600,000 SH   SOLE   1,600,000 0 0
CONNECTONE BANCORP INC NEW COM 20786W107 3,530 225,000 SH   SOLE   225,000 0 0
ENTEGRA FINL CORP COM 29363J108 1,894 108,282 SH   SOLE   108,282 0 0
EQUITY BANCSHARES INC COM CL A 29460X109 2,214 100,000 SH   SOLE   100,000 0 0
EVANS BANCORP INC COM NEW 29911Q208 4,435 180,000 SH   SOLE   180,000 0 0
FARMERS CAP BK CORP COM 309562106 4,559 166,689 SH   SOLE   166,689 0 0
FIRST BANCORP P R COM NEW 318672706 6,296 1,586,000 SH   SOLE   1,586,000 0 0
FIRST FNDTN INC COM 32026V104 3,572 166,138 SH   SOLE   166,138 0 0
FIRST MERCHANTS CORP COM 320817109 7,543 302,566 SH   SOLE   302,566 0 0
GLEN BURNIE BANCORP COM 377407101 1,106 103,619 SH   SOLE   103,619 0 0
GREAT WESTN BANCORP INC COM 391416104 7,412 235,000 SH   SOLE   235,000 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 2,543 152,293 SH   SOLE   152,293 0 0
INDEPENDENT BK GROUP INC COM 45384B106 5,578 130,000 SH   SOLE   130,000 0 0
KEYCORP NEW COM 493267108 7,735 700,000 SH   SOLE   700,000 0 0
MERCANTILE BANK CORP COM 587376104 4,295 180,000 SH   SOLE   180,000 0 0
MERCHANTS BANCSHARES COM 588448100 8,637 283,362 SH   SOLE   283,362 0 0
MIDWESTONE FINL GROUP INC NE COM 598511103 6,707 234,828 SH   SOLE   234,828 0 0
NATIONAL COMM CORP COM 63546L102 3,264 139,954 SH   SOLE   139,954 0 0
OLD LINE BANCSHARES INC COM 67984M100 280 15,569 SH   SOLE   15,569 0 0
PACWEST BANCORP DEL COM 695263103 8,354 210,000 SH   SOLE   210,000 0 0
PNC FINL SVCS GROUP INC COM 693475105 5,290 65,000 SH   SOLE   65,000 0 0
PROVIDENT BANCORP INC COM 74383X109 3,604 233,718 SH   SOLE   233,718 0 0
QCR HOLDINGS INC COM 74727A104 19,033 700,000 SH   SOLE   700,000 0 0
SEACOAST BKG CORP FLA COM NEW 811707801 8,191 504,373 SH   SOLE   504,373 0 0
SOUTHERN FIRST BANCSHARES IN COM 842873101 2,986 123,882 SH   SOLE   123,882 0 0
TALMER BANCORP INC COM 87482X101 7,860 410,000 SH   SOLE   410,000 0 0
TRISTATE CAP HLDGS INC COM 89678F100 6,179 450,000 SH   SOLE   450,000 0 0
US BANCORP DEL COM NEW 902973304 4,487 111,250 SH   SOLE   111,250 0 0
VERITEX HLDGS INC COM 923451108 3,018 188,372 SH   SOLE   188,372 0 0
WESTERN ALLIANCE BANCORP COM 957638109 3,265 100,000 SH   SOLE   100,000 0 0
YADKIN FINL CORP COM 984305102 9,913 395,080 SH   SOLE   395,080 0 0
YOUR CMNTY BANKSHARES INC COM 98779U106 6,689 180,000 SH   SOLE   180,000 0 0