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
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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
AMERICAN RLTY CAP PPTYS INC COM 02917T104 2,532 311,500 SH   SOLE 311,500 0 0
BANC CALIF INC COM 05990K106 24,676 1,794,597 SH   SOLE 0 1,794,597 0
BANCFIRST CORP COM 05945F103 20,497 313,172 SH   SOLE 0 313,172 0
BANCORPSOUTH INC COM 059692103 46,069 1,788,386 SH   SOLE 0 1,788,386 0
BANKUNITED INC COM 06652K103 32,137 894,447 SH   SOLE 0 894,447 0
BANNER CORP COM NEW 06652V208 45,162 942,253 SH   SOLE 0 942,253 0
BNC BANCORP COM 05566T101 32,391 1,675,661 SH   SOLE 0 1,675,661 0
CALIX INC COM 13100M509 1,754 230,478 SH   SOLE 230,478 0 0
CALLAWAY GOLF CO COM 131193104 1,430 160,000 SH   SOLE 160,000 0 0
CARDINAL FINL CORP COM 14149F109 15,510 711,787 SH   SOLE 0 711,787 0
CENTERSTATE BANKS INC COM 15201P109 41,555 3,075,884 SH   SOLE 0 3,075,884 0
COLUMBIA BKG SYS INC COM 197236102 46,267 1,421,852 SH   SOLE 0 1,421,852 0
COLUMBUS MCKINNON CORP N Y COM 199333105 5,197 207,874 SH   SOLE 207,874 0 0
COMERICA INC COM 200340107 44,926 875,405 SH   SOLE 0 875,405 0
DATALINK CORP COM 237934104 1,004 112,285 SH   SOLE 112,285 0 0
EAGLE BANCORP INC MD COM 268948106 38,827 883,229 SH   SOLE 0 883,229 0
EMERSON ELEC CO COM 291011104 1,386 25,000 SH   SOLE 25,000 0 0
ENCORE WIRE CORP COM 292562105 2,540 57,350 SH   SOLE 57,350 0 0
FIDELITY SOUTHERN CORP NEW COM 316394105 18,482 1,059,734 SH   SOLE 0 1,059,734 0
FIRST SEC GROUP INC COM NEW 336312202 14,319 5,844,407 SH   SOLE 0 5,844,407 0
GENERAL MLS INC COM 370334104 1,440 25,844 SH   SOLE 25,844 0 0
GLACIER BANCORP INC NEW COM 37637Q105 24,534 833,932 SH   SOLE 0 833,932 0
GREEN PLAINS PARTNERS LP COM REP PTR IN 393221106 4,653 300,000 SH   SOLE 300,000 0 0
GUARANTY BANCORP DEL COM NEW 40075T607 12,926 782,900 SH   SOLE 0 782,900 0
HANCOCK HLDG CO COM 410120109 47,319 1,482,878 SH   SOLE 0 1,482,878 0
HERITAGE FINL CORP WASH COM 42722X106 39,325 2,200,590 SH   SOLE 0 2,200,590 0
HOME BANCSHARES INC COM 436893200 27,878 762,534 SH   SOLE 0 762,534 0
IBERIABANK CORP COM 450828108 51,470 754,365 SH   SOLE 0 754,365 0
INFINITY PPTY & CAS CORP COM 45665Q103 2,143 28,258 SH   SOLE 28,258 0 0
ISHARES TR MSCI EAFE ETF 464287465 571 9,000 SH   SOLE 9,000 0 0
ISHARES TR SELECT DIVID ETF 464287168 714 9,500 SH   SOLE 9,500 0 0
JOHNSON & JOHNSON COM 478160104 2,032 20,850 SH   SOLE 20,850 0 0
KLX INC COM 482539103 3,475 78,750 SH   SOLE 78,750 0 0
KULICKE & SOFFA INDS INC COM 501242101 1,634 139,500 SH   SOLE 139,500 0 0
LIBBEY INC COM 529898108 1,941 46,958 SH   SOLE 46,958 0 0
MACQUARIE INFRASTRUCTURE COR COM 55608B105 1,932 23,384 SH   SOLE 23,384 0 0
MANITOWOC INC COM 563571108 2,632 134,295 SH   SOLE 134,295 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 403 10,890 SH   SOLE 10,890 0 0
NATIONAL BK HLDGS CORP CL A 633707104 44,458 2,134,322 SH   SOLE 0 2,134,322 0
NATIONAL COMM CORP COM 63546L102 6,939 268,948 SH   SOLE 0 268,948 0
PACWEST BANCORP DEL COM 695263103 2,057 44,000 SH   SOLE 0 44,000 0
PEOPLES UTAH BANCORP COM 712706209 3,753 221,000 SH   SOLE 0 221,000 0
PINNACLE FINL PARTNERS INC COM 72346Q104 16,637 306,000 SH   SOLE 0 306,000 0
PINNACLE FOODS INC DEL COM 72348P104 4,413 96,905 SH   SOLE 96,905 0 0
POWERSHARES ETF TRUST INTL DIV ACHV 73935X716 1,051 61,500 SH   SOLE 61,500 0 0
PROCTER & GAMBLE CO COM 742718109 1,844 23,565 SH   SOLE 23,565 0 0
REGIONS FINL CORP NEW COM 7591EP100 47,665 4,600,913 SH   SOLE 0 4,600,913 0
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 1,663 29,000 SH   SOLE 29,000 0 0
SANDY SPRING BANCORP INC COM 800363103 50,911 1,819,552 SH   SOLE 0 1,819,552 0
SHOE CARNIVAL INC COM 824889109 2,613 90,532 SH   SOLE 90,532 0 0
SOUTH ST CORP COM 840441109 48,783 641,960 SH   SOLE 0 641,960 0
SQUARE 1 FINL INC CL A 85223W101 15,013 548,912 SH   SOLE 0 548,912 0
STATE BK FINL CORP COM 856190103 23,790 1,096,481 SH   SOLE 0 1,096,481 0
SUNCOR ENERGY INC NEW COM 867224107 178 6,476 SH   SOLE 6,476 0 0
SUNTRUST BKS INC COM 867914103 34,167 794,202 SH   SOLE 0 794,202 0
SYNOVUS FINL CORP COM NEW 87161C501 52,294 1,696,750 SH   SOLE 0 1,696,750 0
TESCO CORP COM 88157K101 3,183 292,000 SH   SOLE 292,000 0 0
TORTOISE MLP FD INC COM 89148B101 170 8,000 SH   SOLE 8,000 0 0
UMB FINL CORP COM 902788108 28,000 491,064 SH   SOLE 0 491,064 0
UMPQUA HLDGS CORP COM 904214103 42,612 2,368,650 SH   SOLE 0 2,368,650 0
UNITED CMNTY BANCORP IND COM 90984R101 1,024 74,167 SH   SOLE 74,167 0 0
UNITED PARCEL SERVICE INC CL B 911312106 1,366 14,092 SH   SOLE 14,092 0 0
VANGUARD WORLD FDS INF TECH ETF 92204a702 255 2,400 SH   SOLE 2,400 0 0
VERITEX HLDGS INC COM 923451108 6,972 466,799 SH   SOLE 0 466,799 0
WASTE MGMT INC DEL COM 94106L109 1,763 38,030 SH   SOLE 38,030 0 0
WHITING PETE CORP NEW COM 966387102 1,042 31,000 SH   SOLE 31,000 0 0
XBIOTECH INC COM 98400H102 814 45,000 SH   SOLE 45,000 0 0