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
AMERICAN RIV BANKSHARESCOM0293261054,730290,000SH SOLE 290,00000
AMERIS BANCORPCOM03076K10812,996247,497SH SOLE 247,49700
BANC OF CALIFORNIACOM05990K10661,5033,401,719SH SOLE 3,401,71900
BANKFINANCIALCOM06643P10410,8871,054,922SH SOLE 1,054,92200
BAYCOMCOM07272M1072,893160,530SH SOLE 160,53000
BK OF AMERICACOM0605051041,60641,500SH SOLE 41,50000
CAPITAL ONE FINLCOM14040H10518,455145,050SH SOLE 145,05000
CITIGROUPCOM17296742410,554145,068SH SOLE 145,06800
CITIZENS FINL GROUPCOM17461010513,446304,553SH SOLE 304,55300
COMERICACOM2003401071,93727,000SH SOLE 27,00000
COMMUNITY WEST BANCSHARESCOM2041571015,584434,875SH SOLE 434,87500
ENTERPRISE FINL SVCSCOM29371210535,649721,046SH SOLE 721,04600
EVANS BANCORPCOM NEW29911Q20813,239390,635SH SOLE 390,63500
F N BCOM30252010125,2321,986,765SH SOLE 1,986,76500
FIFTH THIRD BANCORPCOM3167731007,348196,199SH SOLE 196,19900
FIRST BANK WILLIAMSTOWN NJCOM31931U10217314,180SH SOLE 14,18000
FIRST FINANCIAL NORTHWESTCOM32022K10271350,000SH SOLE 50,00000
FIRST FINL BANCORP OHCOM3202091096,513271,364SH SOLE 271,36400
FIRST HORIZON CORPORATIONCOM3205171054,228250,000SH SOLE 250,00000
FIRST INTERNET BANCORPCOM32055710163418,000SH SOLE 18,00000
FIRST MERCHANTSCOM32081710934,937751,333SH SOLE 751,33300
HAWTHORN BANCSHARESCOM4204761036,282295,091SH SOLE 295,09100
HERITAGE COMMCOM4269271091,222100,000SH SOLE 100,00000
HORIZON BANCORPCOM44040710424,9661,334,712SH SOLE 1,334,71200
HUNTINGTON BANCSHARESCOM4461501044,166265,000SH SOLE 265,00000
INDEPENDENT BK MICHCOM4538386098,510359,985SH SOLE 359,98500
INVESCO EXCH TRADED FD TR II KBW BK ETFKBW BK ETF46138E62811,450185,000SH SOLE 185,00000
KEYCORPCOM4932671086,494325,000SH SOLE 325,00000
LUMENT FINANCE TRUSTCOM55025L1082,935831,338SH SOLE 831,33800
MAGYAR BANCORPCOM55977T1097,414539,228SH SOLE 539,22800
MALVERN BANCORPCOM56140910314,039753,961SH SOLE 753,96100
MIDLAND STATES BANCORP INCCOM59774210527710,000SH SOLE 10,00000
NORTHWEST BANCSHARES MDCOM6673401037,062488,745SH SOLE 488,74500
OLD POINT FINLCOM68019410712,227519,857SH SOLE 519,85700
PRIMIS FINANCIALCOM74167B1097,870541,259SH SOLE 541,25900
PROVIDENT FINL SVCSCOM74386T1053,110139,609SH SOLE 139,60900
RELIANT BANCORPCOM75956B1014,988173,684SH SOLE 173,68400
SOUTHERN FIRST BANCSHARES INCCOM84287310146910,000SH SOLE 10,00000
STERLING BANCORP DELCOM85917A10052722,900SH SOLE 22,90000
SYNCHRONY FINANCIALCOM87165B10312,767314,000SH SOLE 314,00000
UMPQUA HLDGSCOM9042141031,23070,100SH SOLE 70,10000