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 3,743 380,000 SH   SOLE 380,000 0 0
BANC CALIF INC COM 05990K106 22,091 1,794,597 SH   SOLE 0 1,794,597 0
BANCFIRST CORP COM 05945F103 19,097 313,172 SH   SOLE 0 313,172 0
BANCORPSOUTH INC COM 059692103 41,985 1,808,136 SH   SOLE 0 1,808,136 0
BANKUNITED INC COM 06652K103 29,284 894,447 SH   SOLE 0 894,447 0
BANNER CORP COM NEW 06652V208 48,299 1,052,253 SH   SOLE 0 1,052,253 0
BNC BANCORP COM 05566T101 30,329 1,675,661 SH   SOLE 0 1,675,661 0
CALLAWAY GOLF CO COM 131193104 1,525 160,000 SH   SOLE 160,000 0 0
CARDINAL FINL CORP COM 14149F109 14,222 711,787 SH   SOLE 0 711,787 0
CENTERSTATE BANKS INC COM 15201P109 36,634 3,075,884 SH   SOLE 0 3,075,884 0
COLUMBIA BKG SYS INC COM 197236102 45,044 1,554,852 SH   SOLE 0 1,554,852 0
COLUMBUS MCKINNON CORP N Y COM 199333105 5,600 207,874 SH   SOLE 207,874 0 0
COMERICA INC COM 200340107 39,507 875,405 SH   SOLE 0 875,405 0
EAGLE BANCORP INC MD COM 268948106 37,111 966,429 SH   SOLE 0 966,429 0
EMERSON ELEC CO COM 291011104 1,416 25,000 SH   SOLE 25,000 0 0
ENCORE WIRE CORP COM 292562105 2,017 53,250 SH   SOLE 53,250 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 400 10,890 SH   SOLE 10,890 0 0
FIDELITY SOUTHERN CORP NEW COM 316394105 17,888 1,059,734 SH   SOLE 0 1,059,734 0
FIRST SEC GROUP INC COM NEW 336312202 11,920 4,966,505 SH   SOLE 0 4,966,505 0
GENERAL MLS INC COM 370334104 1,463 25,844 SH   SOLE 25,844 0 0
GLACIER BANCORP INC NEW COM 37637Q105 21,728 863,932 SH   SOLE 0 863,932 0
HANCOCK HLDG CO COM 410120109 2,240 75,000 SH   SOLE 75,000 0 0
HANCOCK HLDG CO COM 410120109 37,829 1,266,878 SH   SOLE 0 1,266,878 0
HERITAGE FINL CORP WASH COM 42722X106 34,094 2,005,521 SH   SOLE 0 2,005,521 0
HOME BANCSHARES INC COM 436893200 25,842 762,534 SH   SOLE 0 762,534 0
IBERIABANK CORP COM 450828108 45,972 729,365 SH   SOLE 0 729,365 0
INFINITY PPTY & CAS CORP COM 45665Q103 3,016 36,761 SH   SOLE 36,761 0 0
ISHARES TR MSCI EAFE ETF 464287465 578 9,000 SH   SOLE 9,000 0 0
ISHARES TR SELECT DIVID ETF 464287168 974 12,500 SH   SOLE 12,500 0 0
JOHNSON & JOHNSON COM 478160104 2,098 20,850 SH   SOLE 20,850 0 0
KLX INC COM 482539103 2,258 58,600 SH   SOLE 58,600 0 0
KULICKE & SOFFA INDS INC COM 501242101 1,719 110,000 SH   SOLE 110,000 0 0
LIBBEY INC COM 529898108 3,111 77,958 SH   SOLE 77,958 0 0
MACQUARIE INFRASTR CO LLC MEMBERSHIP INT 55608B105 5,059 61,483 SH   SOLE 61,483 0 0
MANITOWOC INC COM 563571108 2,895 134,295 SH   SOLE 134,295 0 0
NATIONAL BK HLDGS CORP CL A 633707104 38,501 2,046,822 SH   SOLE 0 2,046,822 0
NATIONAL COMM CORP COM 63546L102 4,971 226,500 SH   SOLE 0 226,500 0
PINNACLE FINL PARTNERS INC COM 72346Q104 14,316 322,000 SH   SOLE 0 322,000 0
PINNACLE FOODS INC DEL COM 72348P104 4,938 121,005 SH   SOLE 121,005 0 0
POWERSHARES ETF TRUST INTL DIV ACHV 73935X716 959 55,000 SH   SOLE 55,000 0 0
PROCTER & GAMBLE CO COM 742718109 1,931 23,565 SH   SOLE 23,565 0 0
REGIONS FINL CORP NEW COM 7591EP100 42,534 4,500,913 SH   SOLE 0 4,500,913 0
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 1,379 22,000 SH   SOLE 22,000 0 0
SANDY SPRING BANCORP INC COM 800363103 47,727 1,819,552 SH   SOLE 0 1,819,552 0
SHOE CARNIVAL INC COM 824889109 2,665 90,532 SH   SOLE 90,532 0 0
SOUTH ST CORP COM 840441109 53,664 784,680 SH   SOLE 0 784,680 0
SQUARE 1 FINL INC CL A 85223W101 13,337 498,212 SH   SOLE 0 498,212 0
STATE BK FINL CORP COM 856190103 23,027 1,096,481 SH   SOLE 0 1,096,481 0
SUNCOR ENERGY INC NEW COM 867224107 1,564 53,476 SH   SOLE 53,476 0 0
SUNTRUST BKS INC COM 867914103 30,703 747,202 SH   SOLE 0 747,202 0
SYNOVUS FINL CORP COM NEW 87161C501 39,690 1,417,000 SH   SOLE 0 1,417,000 0
TEAM INC COM 878155100 1,528 39,201 SH   SOLE 39,201 0 0
TESCO CORP COM 88157K101 3,320 292,000 SH   SOLE 292,000 0 0
TORTOISE MLP FD INC COM 89148B101 192 8,000 SH   SOLE 8,000 0 0
UMB FINL CORP COM 902788108 35,334 668,064 SH   SOLE 0 668,064 0
UMPQUA HLDGS CORP COM 904214103 40,693 2,368,650 SH   SOLE 0 2,368,650 0
UNION BANKSHARES CORP NEW COM 90539J109 10,602 477,364 SH   SOLE 0 477,364 0
UNITED CMNTY BANCORP IND COM 90984R101 952 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 256 2,400 SH   SOLE 2,400 0 0
VERITEX HLDGS INC COM 923451108 6,186 442,799 SH   SOLE 0 442,799 0
WASTE MGMT INC DEL COM 94106L109 2,062 38,030 SH   SOLE 38,030 0 0
WHITING PETE CORP NEW COM 966387102 958 31,000 SH   SOLE 31,000 0 0