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 15346Q202 2,706 1,264,611 SH   SOLE   1,264,611 0 0
UNITED COMMUNITY FINANCIAL CORP COM 909839102 9,249 1,108,998 SH   SOLE   1,108,998 0 0
Regions Financial Corp COM 7591EP100 11,849 815,470 SH   SOLE   815,470 0 0
RIVERVIEW BANCORP INC COM 769397100 4,769 667,045 SH   SOLE   667,045 0 0
Bank Mutual Corp COM 063750103 5,997 637,987 SH   SOLE   637,987 0 0
UNITED SECURITY BANCSHARES COM 911460103 4,200 575,380 SH   SOLE   575,380 0 0
CoBiz Financial Inc COM 190897108 9,224 549,068 SH   SOLE   549,068 0 0
Park Sterling Corp COM 70086Y105 6,373 517,712 SH   SOLE   517,712 0 0
HERITAGE COMMERCE CORP COM 426927109 6,019 426,866 SH   SOLE   426,866 0 0
Huntington Bancshares Inc COM 446150104 4,944 369,196 SH   SOLE   369,196 0 0
ATLANTIC CAPITAL BANCSHARES INC COM 048269203 6,896 363,917 SH   SOLE   363,917 0 0
CITIZENS FINANCIAL GROUP INC COM STK COM 174610105 11,428 330,755 SH   SOLE   330,755 0 0
ZIONS BANCORPORATION COM 989701107 11,376 270,852 SH   SOLE   270,852 0 0
ConnectOne Bancorp Inc COM 20786W107 6,471 266,835 SH   SOLE   266,835 0 0
BNC BANCORP COM 05566T101 9,201 262,501 SH   SOLE   262,501 0 0
FCB FINANCIAL HOLDINGS INC COM 30255G103 12,580 253,878 SH   SOLE   253,878 0 0
MACATAWA BANK CORP COM 554225102 2,497 252,690 SH   SOLE   252,690 0 0
VERITEX HOLDINGS INC COM 923451108 7,072 251,475 SH   SOLE   251,475 0 0
First Community Corp COM 319835104 5,241 238,208 SH   SOLE   238,208 0 0
SUNSHINE BANCORP INC COM 86777J108 4,640 221,581 SH   SOLE   221,581 0 0
COMERICA INC WARRANT EXP COM 200340115 8,630 219,748 SH   SOLE   219,748 0 0
Banner Corp COM 06652V208 12,131 218,023 SH   SOLE   218,023 0 0
SUNTRUST BANKS INC COM 867914103 11,565 209,135 SH   SOLE   209,135 0 0
CAPSTAR FINANCIAL HOLDINGS INC COM 14070T102 3,957 207,472 SH   SOLE   207,472 0 0
QCR HOLDINGS INC COM 74727A104 8,128 191,930 SH   SOLE   191,930 0 0
FARMERS NATIONAL BANC CORP COM 309627107 2,699 188,086 SH   SOLE   188,086 0 0
GUARANTY BANCORP COM 40075T607 4,374 179,642 SH   SOLE   179,642 0 0
Old Line Bancshares Inc COM 67984M100 4,930 173,102 SH   SOLE   173,102 0 0
OCEANFIRST FINANCIAL CORP COM 675234108 4,122 146,288 SH   SOLE   146,288 0 0
NATIONAL COMMERCE CORP COM 63546L102 4,987 136,244 SH   SOLE   136,244 0 0
EAGLE BANCORP INC COM 268948106 6,791 113,753 SH   SOLE   113,753 0 0
Stonegate Bank COM 861811107 4,510 95,777 SH   SOLE   95,777 0 0
EVANS BANCORP INC COM 29911Q208 3,603 93,587 SH   SOLE   93,587 0 0
DNB FINANCIAL CORP COM 233237106 3,172 93,296 SH   SOLE   93,296 0 0
ASB Bancorp Inc COM 045487105 2,825 83,094 SH   SOLE   83,094 0 0
COMMERCE UNION BANCSHARES INC COM 200828101 1,731 79,576 SH   SOLE   79,576 0 0
COMERICA INC COM 200340107 4,523 65,955 SH   SOLE   65,955 0 0
Territorial Bancorp Inc COM 88145X108 1,394 44,709 SH   SOLE   44,709 0 0
Peapack-Gladstone Financial Corp COM 704699107 948 32,038 SH   SOLE   32,038 0 0
1st Constitution Bancorp COM 31986N102 588 31,858 SH   SOLE   31,858 0 0
Bankwell Financial Group Inc COM 06654A103 924 26,864 SH   SOLE   26,864 0 0
PARAGON COMMERCIAL CORP COM 69911U403 1,364 25,507 SH   SOLE   25,507 0 0
HOWARD BANCORP INC COM 442496105 374 20,000 SH   SOLE   20,000 0 0
Southern First Bancshares Inc COM 842873101 410 12,568 SH   SOLE   12,568 0 0
SUSSEX BANCORP COM 869245100 5 200 SH   SOLE   200 0 0