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
CENTRAL FEDERAL CORP COM NEW 15346Q202 1,997 1,416,624 SH   SOLE   1,416,624 0 0
Regions Financial Corp COM 7591EP100 10,701 1,084,170 SH   SOLE   1,084,170 0 0
UNITED COMMUNITY FINANCIAL CORP COM 909839102 7,431 1,045,186 SH   SOLE   1,045,186 0 0
RIVERVIEW BANCORP INC COM 769397100 3,589 667,045 SH   SOLE   667,045 0 0
TRISTATE CAPITAL HOLDINGS INC COM 89678F100 9,861 610,583 SH   SOLE   610,583 0 0
CoBiz Financial Inc COM 190897108 7,308 549,068 SH   SOLE   549,068 0 0
UNITED SECURITY BANCSHARES COM 911460103 3,448 545,610 SH   SOLE   545,610 0 0
CENTERSTATE BANKS INC COM 15201P109 8,538 481,527 SH   SOLE   481,527 0 0
ZIONS BANCORPORATION COM 989701107 14,605 470,838 SH   SOLE   470,838 0 0
FARMERS NATIONAL BANC CORP COM 309627107 4,636 430,029 SH   SOLE   430,029 0 0
HERITAGE COMMERCE CORP COM 426927109 4,542 415,166 SH   SOLE   415,166 0 0
FCB FINANCIAL HOLDINGS INC CL A 30255G103 14,978 389,751 SH   SOLE   389,751 0 0
OPUS BANK COM 684000102 12,154 343,627 SH   SOLE   343,627 0 0
BNC BANCORP COM 05566T101 8,347 343,212 SH   SOLE   343,212 0 0
CITIZENS FINANCIAL GROUP INC COM STK COM 174610105 8,273 334,800 SH   SOLE   334,800 0 0
United Community Banks Inc COM 90984P303 7,017 333,800 SH   SOLE   333,800 0 0
PREFERRED BANK COM NEW 740367404 10,482 293,206 SH   SOLE   293,206 0 0
MACATAWA BANK CORP COM 554225102 2,196 274,841 SH   SOLE   274,841 0 0
QCR HOLDINGS INC COM 74727A104 8,605 271,101 SH   SOLE   271,101 0 0
COMERICA INC WARRANT EXP *W EXP 11/14/201 200340115 4,516 246,120 SH   SOLE   246,120 0 0
GUARANTY BANCORP COM NEW 40075T607 4,335 242,852 SH   SOLE   242,852 0 0
VERITEX HOLDINGS INC COM 923451108 3,731 214,543 SH   SOLE   214,543 0 0
EAGLE BANCORP INC COM 268948106 8,610 174,536 SH   SOLE   174,536 0 0
SUNTRUST BANKS INC COM 867914103 7,353 167,865 SH   SOLE   167,865 0 0
Old Line Bancshares Inc COM 67984M100 3,218 163,102 SH   SOLE   163,102 0 0
PROSPERITY BANCSHARES INC COM 743606105 8,557 155,893 SH   SOLE   155,893 0 0
DNB FINANCIAL CORP COM 233237106 3,888 153,296 SH   SOLE   153,296 0 0
OCEANFIRST FINANCIAL CORP COM 675234108 2,818 146,288 SH   SOLE   146,288 0 0
Territorial Bancorp Inc COM 88145X108 4,147 144,689 SH   SOLE   144,689 0 0
First Community Corp COM 319835104 2,125 134,928 SH   SOLE   134,928 0 0
FIRST BUSINESS FINANCIAL SERVICES INC COM 319390100 3,002 127,762 SH   SOLE   127,762 0 0
Park Sterling Corp COM 70086Y105 1,031 126,986 SH   SOLE   126,986 0 0
CAPSTAR FINANCIAL HOLDINGS INC COM 14070T102 1,865 110,200 SH   SOLE   110,200 0 0
EVANS BANCORP INC COM NEW 29911Q208 2,486 90,887 SH   SOLE   90,887 0 0
COMERICA INC COM 200340107 3,935 83,155 SH   SOLE   83,155 0 0
LegacyTexas Financial Group Inc COM 52471Y106 2,498 78,976 SH   SOLE   78,976 0 0
SHORE BANCSHARES INC COM 825107105 867 73,558 SH   SOLE   73,558 0 0
SUNSHINE BANCORP INC COM 86777J108 1,055 71,359 SH   SOLE   71,359 0 0
Pacific Premier Bancorp Inc COM 69478X105 1,607 60,720 SH   SOLE   60,720 0 0
NATIONAL COMMERCE CORP COM 63546L102 1,271 46,960 SH   SOLE   46,960 0 0
Stonegate Bank COM 861811107 1,515 44,880 SH   SOLE   44,880 0 0
Access National Corp COM 004337101 997 41,724 SH   SOLE   41,724 0 0
1st Constitution Bancorp COM 31986N102 438 31,858 SH   SOLE   31,858 0 0
ASB Bancorp Inc COM 00213T109 606 23,092 SH   SOLE   23,092 0 0
Bankwell Financial Group Inc COM 06654A103 487 20,555 SH   SOLE   20,555 0 0
PARAGON COMMERCIAL CORP COM NEW 69911U403 726 20,000 SH   SOLE   20,000 0 0
ENTERPRISE FINANCIAL SERVICES CORP COM 293712105 624 19,957 SH   SOLE   19,957 0 0
Southern First Bancshares Inc COM 842873101 481 17,455 SH   SOLE   17,455 0 0
COMMERCE UNION BANCSHARES INC COM 200828101 272 13,732 SH   SOLE   13,732 0 0
Bank of Marin Bancorp COM 063425102 100 2,000 SH   SOLE   2,000 0 0
SUSSEX BANCORP COM 869245100 3 200 SH   SOLE   200 0 0