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
Ameris Bancorp common 03076K108 5,202 218,933 SH   SOLE   218,933 0 0
Bank of Fincastle common 062113105 1,118 491,336 SH   SOLE   491,336 0 0
CalWest Bancorp common 13169Q102 1,141 2,888,000 SH   SOLE   2,888,000 0 0
Cecil Bancorp, Inc. common 149841306 974 367,500 SH   SOLE   367,500 0 0
Citizens Commerce Bancshares, Inc. common 17452P101 1,420 195,913 SH   SOLE   195,913 0 0
Communities First Financial Corp common 20344D104 3,534 153,647 SH   SOLE   153,647 0 0
Exchange Listed FDS TR HI YLD ETF July 17 2020 32 put 30151E954 530 680 PRN Put SOLE   680 0 0
First Bancorp NC common 318910106 3,000 130,000 SH   SOLE   130,000 0 0
First Bancshares Inc MS common 318916103 5,111 268,000 SH   SOLE   268,000 0 0
First Busey Corp common 319383204 2,224 130,000 SH   SOLE   130,000 0 0
First Intst Bancsystem CL A common 32055Y201 2,797 97,000 SH   SOLE   97,000 0 0
First Midwest Bancorp DEL common 320867104 2,109 159,349 SH   SOLE   159,349 0 0
Franklin Financial Network common 35352P104 2,549 125,000 SH   SOLE   125,000 0 0
Gateway Bank FSB common 36758P102 1,080 3,000,000 SH   SOLE   3,000,000 0 0
Grandsouth Bancorporation common 386627301 4,419 339,922 SH   SOLE   339,922 0 0
Heritage Commerce Corp common 426927109 1,572 205,000 SH   SOLE   205,000 0 0
Hope Bancorp Inc common 43940T109 446 54,238 SH   SOLE   54,238 0 0
Invesco Exchange Traded Sr Ln ETF Apr 17 2020 21 put 46138G958 544 4,187 PRN Put SOLE   4,187 0 0
Invesco Exchange Traded Sr Ln ETF Oct 16 2020 17 put 46138G958 45 300 PRN Put SOLE   300 0 0
Investar Holding Corp common 46134L105 1,675 131,133 SH   SOLE   131,133 0 0
iShares Trust IBOXX HI YD ETF May 15 2020 83 put 464288953 297 407 PRN Put SOLE   407 0 0
Lakeland Bancorp Inc common 511637100 942 87,162 SH   SOLE   87,162 0 0
MainStreet Bancshares Inc common 56064Y100 4,722 281,718 SH   SOLE   281,718 0 0
McHenry Bancorp, Inc. common 580683100 1,316 15,000,000 SH   SOLE   15,000,000 0 0
Metro Phoenix Bank common 59165E106 1,758 176,667 SH   SOLE   176,667 0 0
Old Natl Bancorp IND common 680033107 1,319 100,000 SH   SOLE   100,000 0 0
OP Bancorp common 67109R109 2,292 307,300 SH   SOLE   307,300 0 0
Oregon Pacific Bancorp common 686040205 1,780 358,834 SH   SOLE   358,834 0 0
Pacific Premier Bancorp common 69478X105 3,429 182,000 SH   SOLE   182,000 0 0
Pacific West Bank common 69506W202 2,755 213,590 SH   SOLE   213,590 0 0
Pacwest Bancorp DEL common 695263103 1,245 69,500 SH   SOLE   69,500 0 0
Pioneer Bancshares, Inc. common 72357G102 1,520 80,000 SH   SOLE   80,000 0 0
Seacoast Commerce Banc Holdings common 81171B108 3,065 250,000 SH   SOLE   250,000 0 0
Select Bancorp Inc common 81617L108 2,299 301,320 SH   SOLE   301,320 0 0
Southcrest Financial Group common 84129X107 463 65,634 SH   SOLE   65,634 0 0
SPDR Bloomberg BRCLYS HI YD Bond ETF Jun 19 2020 105 put 78468R952 375 300 PRN Put SOLE   300 0 0
United Bancorporation Ala CL A common 90944R100 6,162 281,348 SH   SOLE   281,348 0 0
US Metro Bank common 90343B102 2,243 806,722 SH   SOLE   806,722 0 0
Veritex Holdings Inc common 923451108 773 55,300 SH   SOLE   55,300 0 0
Webster Financial Corp Conn common 947890109 344 15,000 SH   SOLE   15,000 0 0
Western Alliance Bancorp common 957638109 5,951 194,400 SH   SOLE   194,400 0 0