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
1ST CENTY BK NATL ASSN COM STK COM 31943X102 2,228 302,502 SH   SOLE   302,502 0 0
BANK MUTUAL CORP COM STK COM 063750103 3,619 564,608 SH   SOLE   564,608 0 0
BANNER CORP COM STK COM 06652V208 5,967 155,110 SH   SOLE   155,110 0 0
BAY COML BK WALNUT CREEK CALIF COM STK COM 072199102 1,339 118,027 SH   SOLE   118,027 0 0
BNC BANCORP COM STK COM 05566T101 7,718 492,904 SH   SOLE   492,904 0 0
BRIDGE CAP HLDGS COM STK COM 108030107 293 12,890 SH   SOLE   12,890 0 0
CAPE BANCORP INC COM COM 139209100 1,635 173,420 SH   SOLE   173,420 0 0
CARDINAL FINL CORP COM STK COM 14149F109 4,895 286,783 SH   SOLE   286,783 0 0
CENTRAL FEDERAL CORP COM STK COM 15346Q202 1,505 1,131,985 SH   SOLE   1,131,985 0 0
CENTRAL VALLEY COMMUNITY BANCO COM STK COM 155685100 2,821 245,809 SH   SOLE   245,809 0 0
CHOICEONE FINANCIAL SERVICES I COM STK COM 170386106 1,792 87,454 SH   SOLE   87,454 0 0
COMERICA INC WARRANT EXP COM 200340115 8,644 418,035 SH   SOLE   418,035 0 0
CORTLAND BANCORP COM STK COM 220587109 2,712 200,908 SH   SOLE   200,908 0 0
DCB FINANCIAL CORP COM STK COM 233075100 2,730 367,014 SH   SOLE   367,014 0 0
DNB FINANCIAL CORP COM STK COM 233237106 3,419 159,411 SH   SOLE   159,411 0 0
EAGLE BANCORP INC COM STK COM 268948106 5,961 187,344 SH   SOLE   187,344 0 0
EAST-WEST BANCORP INC COM STK COM 27579R104 10,059 295,875 SH   SOLE   295,875 0 0
ENTERPRISE BNCP COM 293668109 3,129 166,109 SH   SOLE   166,109 0 0
ENTERPRISE FINL SVCS CORP COM STK COM 293712105 3,466 207,351 SH   SOLE   207,351 0 0
EVANS BANCORP INC COM STK COM 29911Q208 2,470 107,187 SH   SOLE   107,187 0 0
F & M BANK CORP COM STK COM 30237P106 1,482 84,077 SH   SOLE   84,077 0 0
FARMERS & MERCHANTS STATE BANK COM STK COM 30779N105 737 28,887 SH   SOLE   28,887 0 0
FARMERS NATL BANC CORP COM STK COM 309627107 3,786 473,867 SH   SOLE   473,867 0 0
FIRST BUSINESS FINANCIAL SERVI COM STK COM 319390100 3,184 72,533 SH   SOLE   72,533 0 0
FIRST DEFIANCE FINANCIAL CORP COM STK COM 32006W106 3,524 130,488 SH   SOLE   130,488 0 0
FIRST INTERSTATE BANCSYSTEM INC COM 32055Y201 4,774 179,700 SH   SOLE   179,700 0 0
FLUSHING FINANCIAL CORP COM STK COM 343873105 10,344 566,183 SH   SOLE   566,183 0 0
FNB BANCORP CALIF COM STK COM 302515101 1,511 54,360 SH   SOLE   54,360 0 0
FOX CHASE BANCORP INC COM STK COM 35137T108 3,247 199,115 SH   SOLE   199,115 0 0
GUARANTY BANCORP DEL COM STK COM 40075T607 4,559 337,493 SH   SOLE   337,493 0 0
HANMI FINL CORP COM STK COM 410495204 11,531 572,000 SH   SOLE   572,000 0 0
HERITAGE COMM CORP COM STK COM 426927109 3,720 453,201 SH   SOLE   453,201 0 0
HERITAGE FINANCIAL CORPORATION COM STK COM 42722X106 4,512 284,900 SH   SOLE   284,900 0 0
HUNTINGTON BANCSHARES INC COM COM 446150104 9,215 947,089 SH   SOLE   947,089 0 0
INDEPENDENT BK CORP MICH COM STK COM 453838609 4,715 395,570 SH   SOLE   395,570 0 0
KEYCORP NY COM STK COM 493267108 9,089 681,874 SH   SOLE   681,874 0 0
LNB BANCORP INC COM STK COM 502100100 5,024 351,602 SH   SOLE   351,602 0 0
MACKINAC FINL CORP COM STK COM 554571109 3,760 332,791 SH   SOLE   332,791 0 0
MAINSOURCE FINL GROUP INC COM STK COM 56062Y102 4,185 242,622 SH   SOLE   242,622 0 0
MERCANTILE BANK CORP MI COM STK COM 587376104 1,459 76,630 SH   SOLE   76,630 0 0
MERCHANTS BANCSHARES INC COM STK COM 588448100 2,526 89,631 SH   SOLE   89,631 0 0
MIDDLEBURG FINANCIALCORP COM 596094102 233 13,163 SH   SOLE   13,163 0 0
MONARCH COMMUNITY BANCORP INC COM STK COM 609045208 2,325 807,416 SH   SOLE   807,416 0 0
MUTUALFIRST FINANCIAL INC COM STK COM 62845B104 3,489 155,102 SH   SOLE   155,102 0 0
NORTH VY BANCORP COM STK COM 66304M204 3,702 171,582 SH   SOLE   171,582 0 0
OCEANFIRST FINL CORP COM STK COM 675234108 4,771 299,895 SH   SOLE   299,895 0 0
PEOPLES BANCORP INC COM STK COM 709789101 7,147 302,800 SH   SOLE   302,800 0 0
PREFERRED BK LOS ANGELES CALIF COM STK COM 740367404 4,722 209,712 SH   SOLE   209,712 0 0
PROSPERITY BANCSHARES INC COM STK COM 743606105 13,569 237,357 SH   SOLE   237,357 0 0
PROVIDENT FINANCIAL HOLDINGS I COM STK COM 743868101 2,396 164,225 SH   SOLE   164,225 0 0
RIVER VALLEY BANCORP COM STK COM 768475105 242 11,299 SH   SOLE   11,299 0 0
RIVERVIEW BANCORP INC COM STK COM 769397100 2,362 592,001 SH   SOLE   592,001 0 0
SHORE BANCSHARES INC COM STK COM 825107105 950 105,586 SH   SOLE   105,586 0 0
SUNTRUST BKS INC COM STK COM 867914103 9,210 242,197 SH   SOLE   242,197 0 0
UNITED CMNTY FINL CORP OHIO COM STK COM 909839102 2,519 538,387 SH   SOLE   538,387 0 0
UNITED SEC BANCSHARES CALIF COM STK COM 911460103 1,859 333,297 SH   SOLE   333,297 0 0
WEBSTER FINL CORP WATERBURY CO COM STK COM 947890109 8,569 294,081 SH   SOLE   294,081 0 0
WILSHIRE BANCORP INC COM COM 97186T108 10,638 1,152,612 SH   SOLE   1,152,612 0 0
YADKIN VALLEY FINANCIAL CORP COM STK COM 984305102 8,051 443,367 SH   SOLE   443,367 0 0
ZIONS BANCORPORATION COM STK COM 989701107 9,177 315,800 SH   SOLE   315,800 0 0