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
Expires: July 31, 2015
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
1867 Western Financial Corp Com 282518109 474,000 79 SH SOLE 0 79 0 0
1st Colonial Bancorp Inc Com 319716106 1,497,026 95,352 SH SOLE 0 95,352 0 0
Alpine Banks of Colorado Com 020810107 3,454,289 128,174 SH SOLE 0 128,174 0 0
American Riviera Bancorp Com 02933K103 3,505,231 183,328 SH SOLE 0 183,328 0 0
Ballston Spa Bancorp Inc Com 058701103 1,617,836 26,302 SH SOLE 0 26,302 0 0
Bancorp 34 Inc Com 05970V106 1,301,775 107,142 SH SOLE 0 107,142 0 0
Bancorp Inc/The Com 05969A105 1,139,400 20,000 SH SOLE 0 20,000 0 0
Bankwell Financial Group Inc Com 06654A103 3,975,478 110,338 SH SOLE 0 110,338 0 0
Banner Corp Com 06652V208 3,911,418 60,973 SH SOLE 0 60,973 0 0
Boyle Bancorp Inc Com 103442109 2,827,710 31,419 SH SOLE 0 31,419 0 0
California BanCorp Com 84252A106 3,286,843 208,556 SH SOLE 0 208,556 0 0
Canandaigua National Corp Com 137143103 1,629,320 8,855 SH SOLE 0 8,855 0 0
Cashmere Valley Bank Com 14756K102 5,972,124 91,597 SH SOLE 0 91,597 0 0
Cecil Bancorp Inc Com 149841306 536,551 367,501 SH SOLE 0 367,501 0 0
Central BanCo Inc Com 152413100 0 0 SH SOLE 0 0 0 0
Central BanCo Inc Com 152413209 0 0 SH SOLE 0 0 0 0
Century Financial Corp/MA Com 15652L102 1,636,656 38,968 SH SOLE 0 38,968 0 0
Chino Commercial Bancorp Com 16957L102 3,435,690 229,046 SH SOLE 0 229,046 0 0
Citba Financial Corp Com 173024100 1,718,948 61,391 SH SOLE 0 61,391 0 0
Citizens Bancorp/OR Com 172950107 1,012,354 102,258 SH SOLE 0 102,258 0 0
Citizens Financial Group Inc Com 174610105 5,026,812 112,331 SH SOLE 0 112,331 0 0
CNB Community Bancorp Inc Com 12618F105 2,496,598 63,205 SH SOLE 0 63,205 0 0
CNB Financial Corp/PA Com 126128107 2,286,000 100,000 SH SOLE 0 100,000 0 0
Columbia Banking System Inc Com 197236102 3,654,341 156,302 SH SOLE 0 156,302 0 0
Comerica Inc Com 200340107 4,720,999 79,145 SH SOLE 0 79,145 0 0
Community Bancorp of Santa Mar Com 20344R103 1,807,583 133,895 SH SOLE 0 133,895 0 0
Community Heritage Financial I Com 20370L103 3,264,990 129,000 SH SOLE 0 129,000 0 0
Community West Bancshares Com 203937107 4,102,114 210,257 SH SOLE 0 210,257 0 0
Cornerstone Bancorp Inc/IL Com 21925H100 358,634 4,087 SH SOLE 0 4,087 0 0
Cornerstone Community Bancorp Com 21925R108 4,766,608 123,808 SH SOLE 0 123,808 0 0
Crystal Valley Financial Corp Com 22941P100 3,541,647 54,445 SH SOLE 0 54,445 0 0
Embassy Bancorp Inc Com 290791102 2,289,606 143,639 SH SOLE 0 143,639 0 0
Enterprise Bancorp Inc/MA Com 293668109 2,896,670 73,056 SH SOLE 0 73,056 0 0
Exchange Bank/Santa Rosa CA Com 301227203 7,216,659 69,895 SH SOLE 0 69,895 0 0
Farmers & Merchants Bancorp/Lo Com 307795104 3,614,394 3,662 SH SOLE 0 3,662 0 0
Farmers & Merchants Bank of Lo Com 308243104 0 0 SH SOLE 0 0 0 0
Farmers and Merchants Bancshar Com 308856103 1,140,394 68,906 SH SOLE 0 68,906 0 0
FFD Financial Corp Com 30243C107 1,462,650 41,790 SH SOLE 0 41,790 0 0
Finwise Bancorp Com 31813A109 2,058,216 137,123 SH SOLE 0 137,123 0 0
First Berlin Bancorp Inc Com 319302105 56,021 2,110 SH SOLE 0 2,110 0 0
First Capital Inc Com 31942S104 3,842,324 93,057 SH SOLE 0 93,057 0 0
First Citizens BancShares Inc/ Com 31946M103 13,663,986 6,984 SH SOLE 0 6,984 0 0
First Citizens BancShares Inc/ Com 31946M202 1,476,104 876 SH SOLE 0 876 0 0
First Horizon Corp Com 320517105 5,647,235 266,379 SH SOLE 0 266,379 0 0
First Mid Bancshares Inc Com 320866106 4,813,866 128,404 SH SOLE 0 128,404 0 0
First National Corp/VA Com 32106V107 6,159,198 316,343 SH SOLE 0 316,343 0 0
First National of Nebraska Inc Com 335720108 6,500,000 500 SH SOLE 0 500 0 0
First Ottawa Bancshares Inc Com 335876108 5,226,278 37,129 SH SOLE 0 37,129 0 0
Five Star Bancorp Com 33830T103 3,848,533 134,847 SH SOLE 0 134,847 0 0
FNB Corp/PA Com 302520101 3,828,606 262,593 SH SOLE 0 262,593 0 0
HBT Financial Inc Com 404111106 4,596,565 182,331 SH SOLE 0 182,331 0 0
Independent Bank Corp Com 453836108 3,773,100 60,000 SH SOLE 0 60,000 0 0
Jd Bancshares Inc Com 46591R108 1,690,520 65,020 SH SOLE 0 65,020 0 0
Ledyard Financial Group Inc Com 523338101 77,422 5,590 SH SOLE 0 5,590 0 0
M&T Bank Corp Com 55261F104 4,655,760 24,000 SH SOLE 0 24,000 0 0
Main Street Financial Services Com 56035X108 1,638,740 126,446 SH SOLE 0 126,446 0 0
Mechanics Bank/Walnut Creek CA Com 583614102 4,154,900 107 SH SOLE 0 107 0 0
Merchants Financial Group Inc Com 588538108 5,229,000 209,160 SH SOLE 0 209,160 0 0
Middlebury National Corp Com 596237107 828,267 24,717 SH SOLE 0 24,717 0 0
Mission Bancorp/Bakersfield CA Com 605015106 8,110,026 86,231 SH SOLE 0 86,231 0 0
Morris State BancShares Inc Com 618304109 109,950 5,000 SH SOLE 0 5,000 0 0
Mountain Commerce Bancorp Inc Com 624004107 2,540,469 130,147 SH SOLE 0 130,147 0 0
Oak Ridge Financial Services I Com 671768109 2,555,909 121,652 SH SOLE 0 121,652 0 0
Oak Valley Bancorp Com 671807105 9,768,073 358,593 SH SOLE 0 358,593 0 0
Old Second Bancorp Inc Com 680277100 2,892,294 163,038 SH SOLE 0 163,038 0 0
Oregon Pacific Bancorp Com 686040205 5,128,981 661,804 SH SOLE 0 661,804 0 0
Oxford Bank Corp/MI Com 69140P100 4,559,541 135,499 SH SOLE 0 135,499 0 0
Pacific Valley Bancorp Com 69503T103 2,205,821 216,257 SH SOLE 0 216,257 0 0
Parke Bancorp Inc Com 700885106 2,949,922 144,817 SH SOLE 0 144,817 0 0
Partners Bank of California Com 70212Y102 470,166 46,505 SH SOLE 0 46,505 0 0
Peoples Bancorp/WA Com 70979X107 1,125,000 5,000 SH SOLE 0 5,000 0 0
Pinnacle Bank/Gilroy CA Com 72346K107 4,234,160 211,708 SH SOLE 0 211,708 0 0
Plumas Bancorp Com 729273102 9,772,397 219,802 SH SOLE 0 219,802 0 0
Prime Meridian Holding Co Com 74164R107 6,099,212 127,014 SH SOLE 0 127,014 0 0
Private Bancorp of America Inc Com 74274F100 3,369,438 62,397 SH SOLE 0 62,397 0 0
Provident Financial Services I Com 74386T105 3,325,546 189,706 SH SOLE 0 189,706 0 0
Red River Bancshares Inc Com 75686R202 3,902,317 66,479 SH SOLE 0 66,479 0 0
Redwood Capital Bancorp Com 75777X100 4,098,116 186,278 SH SOLE 0 186,278 0 0
Security National Corp/IA Com 814784104 2,956,345 18,476 SH SOLE 0 18,476 0 0
Shore Bancshares Inc Com 825107105 3,069,912 195,287 SH SOLE 0 195,287 0 0
Solvay Bank Com 83441Q105 2,212,584 76,296 SH SOLE 0 76,296 0 0
Southeastern Banking Corp Com 84158P108 2,336,153 103,829 SH SOLE 0 103,829 0 0
Southern BancShares NC Inc Com 842243107 9,240,000 1,100 SH SOLE 0 1,100 0 0
Southern Missouri Bancorp Inc Com 843380106 4,344,821 79,314 SH SOLE 0 79,314 0 0
Studio Financial Holdings Inc Com 864001102 1,474,202 148,161 SH SOLE 0 148,161 0 0
Synovus Financial Corp Com 87161C501 5,599,040 108,194 SH SOLE 0 108,194 0 0
Timberland Bancorp Inc/WA Com 887098101 7,202,426 230,847 SH SOLE 0 230,847 0 0
Tri City Bankshares Corp Com 895364107 2,076,732 146,455 SH SOLE 0 146,455 0 0
Tri-County Financial Group Inc Com 89546P108 2,662,431 61,917 SH SOLE 0 61,917 0 0
United BanCorp of Alabama Inc Com 90944R100 4,320,014 81,896 SH SOLE 0 81,896 0 0
Valley National Bancorp Com 919794107 2,281,972 255,540 SH SOLE 0 255,540 0 0
Village Bank and Trust Financi Com 92705T200 0 0 SH SOLE 0 0 0 0
Washington Trust Bancorp Inc Com 940610108 3,394,986 120,049 SH SOLE 0 120,049 0 0
WesBanco Inc Com 950810101 0 0 SH SOLE 0 0 0 0
West Coast Community Bancorp Com 952170108 11,504,155 295,357 SH SOLE 0 295,357 0 0
Wintrust Financial Corp Com 97650W108 5,983,771 48,264 SH SOLE 0 48,264 0 0
Woodlands Financial Services C Com 979685104 1,513,470 74,372 SH SOLE 0 74,372 0 0
WSFS Financial Corp Com 929328102 2,410,045 43,819 SH SOLE 0 43,819 0 0
WTB Financial Corp Com 929334209 3,686,792 12,672 SH SOLE 0 12,672 0 0
Zions Bancorp NA Com 989701107 5,261,003 101,290 SH SOLE 0 101,290 0 0