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
BRIDGE CAP HLDGS COM STK COM 108030107 171 7,231 SH   SOLE 0 7,166 0 0
TRI COUNTY FINANCIAL CORP COM STK COM 20368X101 228 11,000 SH   SOLE 0 10,895 0 0
BAY COML BK WALNUT CREEK CALIF COM STK COM 072199102 289 28,226 SH   SOLE 0 27,946 0 0
ONEIDA FINANCIAL CORP COM STK COM 682479100 437 35,652 SH   SOLE 0 35,297 0 0
CENTRAL FEDERAL CORP COM STK COM 15346Q202 610 394,001 SH   SOLE 0 388,791 0 0
DCB FINANCIAL CORP COM STK RSTD COM 2330759C6 842 131,579 SH   SOLE 0 131,579 0 0
DCB FINANCIAL CORP COM STK COM 233075100 909 142,158 SH   SOLE 0 139,973 0 0
EVANS BANCORP INC COM STK COM 29911Q208 961 42,280 SH   SOLE 0 41,940 0 0
UNITED SEC BANCSHARES CALIF COM STK COM 911460103 1,147 207,072 SH   SOLE 0 205,254 0 0
RIVERVIEW BANCORP INC COM STK COM 769397100 1,248 364,561 SH   SOLE 0 361,531 0 0
F & M BANK CORP COM STK RSTD COM 30237P9V0 1,351 75,108 SH   SOLE 0 75,108 0 0
CHOICEONE FINANCIAL SERVICES I COM STK COM 170386106 1,420 82,343 SH   SOLE 0 81,613 0 0
BANK OF KENTUCKY FINANCIAL COR COM STK COM 062896105 1,687 44,945 SH   SOLE 0 44,536 0 0
PEOPLE FED BANC COM 711037101 1,727 96,507 SH   SOLE 0 95,727 0 0
MUTUALFIRST FINANCIAL INC COM STK COM 62845B104 1,872 98,540 SH   SOLE 0 97,690 0 0
CENTRAL VALLEY COMMUNITY BANCO COM STK COM 155685100 1,925 167,246 SH   SOLE 0 165,912 0 0
1ST CENTY BK NATL ASSN COM STK COM 31943X102 1,939 244,928 SH   SOLE 0 242,983 0 0
CORTLAND BANCORP COM STK COM 220587109 1,999 188,603 SH   SOLE 0 187,036 0 0
MONARCH COMMUNITY BANCORP INC COM STK RS COM 6090459A9 2,099 666,500 SH   SOLE 0 666,500 0 0
CAPE BANCORP INC COM COM 139209100 2,239 203,581 SH   SOLE 0 201,876 0 0
TOWER FINANCIAL CORP COM STK COM 891769101 2,369 95,305 SH   SOLE 0 94,278 0 0
DNB FINANCIAL CORP COM STK COM 233237106 2,400 122,964 SH   SOLE 0 122,002 0 0
ENTERPRISE BNCP COM 293668109 2,498 122,839 SH   SOLE 0 121,986 0 0
FARMERS NATL BANC CORP COM STK COM 309627107 2,663 346,791 SH   SOLE 0 343,546 0 0
FIRST BUSINESS FINANCIAL SERVI COM STK COM 319390100 2,671 56,616 SH   SOLE 0 56,150 0 0
FIRST DEFIANCE FINANCIAL CORP COM STK COM 32006W106 2,675 98,637 SH   SOLE 0 97,757 0 0
HERITAGE COMM CORP COM STK COM 426927109 2,695 334,368 SH   SOLE 0 331,659 0 0
NORTH VY BANCORP COM STK COM 66304M204 2,826 116,879 SH   SOLE 0 115,824 0 0
PEOPLES BANCORP INC COM STK COM 709789101 2,986 120,770 SH   SOLE 0 119,795 0 0
MACKINAC FINL CORP COM STK COM 554571109 3,025 241,295 SH   SOLE 0 239,240 0 0
ENTERPRISE FINL SVCS CORP COM STK COM 293712105 3,143 156,621 SH   SOLE 0 155,166 0 0
LNB BANCORP INC COM STK COM 502100100 3,245 284,202 SH   SOLE 0 281,152 0 0
PACIFIC CONTINENTAL CORP COM STK COM 69412V108 3,567 259,261 SH   SOLE 0 257,061 0 0
SOUTHWEST BANCORP INC OKLA COM STK COM 844767103 3,682 208,513 SH   SOLE 0 206,763 0 0
CARDINAL FINL CORP COM STK COM 14149F109 3,842 215,480 SH   SOLE 0 213,655 0 0
INDEPENDENT BK CORP MICH COM STK COM 453838609 3,849 296,547 SH   SOLE 0 294,122 0 0
PREFERRED BK LOS ANGELES CALIF COM STK COM 740367404 3,912 150,727 SH   SOLE 0 149,512 0 0
BANK MUTUAL CORP COM STK COM 063750103 4,007 632,098 SH   SOLE 0 627,005 0 0
EAGLE BANCORP INC COM STK COM 268948106 4,053 112,292 SH   SOLE 0 111,412 0 0
BANNER CORP COM STK COM 06652V208 4,942 119,945 SH   SOLE 0 118,845 0 0
WEBSTER FINL CORP WATERBURY CO COM STK COM 947890109 5,016 161,521 SH   SOLE 0 160,226 0 0
EAST-WEST BANCORP INC COM STK COM 27579R104 5,656 154,975 SH   SOLE 0 153,735 0 0
OMNIAMERICAN BANCORP INC COM 68216R107 5,657 248,225 SH   SOLE 0 246,220 0 0
YADKIN VALLEY FINANCIAL CORP COM STK COM 984305102 5,849 273,204 SH   SOLE 0 270,939 0 0
BNC BANCORP COM STK COM 05566T101 6,413 370,109 SH   SOLE 0 367,165 0 0
HUNTINGTON BANCSHARES INC COM COM 446150104 6,737 675,761 SH   SOLE 0 670,080 0 0
COMERICA INC WARRANT EXP W EXP 11/14/2018 200340115 6,983 311,782 SH   SOLE 0 311,782 0 0