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
BANC CALIF INC COM 05990K106 17,010 1,560,534 SH   SOLE   0 1,560,534 0
BANCFIRST CORP COM 05945F103 19,089 308,382 SH   SOLE   0 308,382 0
BANCORPSOUTH INC COM 059692103 31,703 1,290,317 SH   SOLE   0 1,290,317 0
BANKUNITED INC COM 06652K103 31,938 953,946 SH   SOLE   0 953,946 0
BANNER CORP COM NEW 06652V208 39,939 1,007,787 SH   SOLE   0 1,007,787 0
BNC BANCORP COM 05566T101 5,695 333,597 SH   SOLE   0 333,597 0
CALLAWAY GOLF CO COM 131193104 1,331 160,000 SH   SOLE   160,000 0 0
CARDINAL FINL CORP COM 14149F109 12,636 684,493 SH   SOLE   0 684,493 0
CENTERSTATE BANKS INC COM 15201P109 31,697 2,830,057 SH   SOLE   0 2,830,057 0
CLEARFIELD INC COM 18482P103 1,194 71,117 SH   SOLE   71,117 0 0
CLICKSOFTWARE TECHNOLOGIES L ORD M25082104 481 59,600 SH   SOLE   59,600 0 0
COLUMBIA BKG SYS INC COM 197236102 39,506 1,501,576 SH   SOLE   0 1,501,576 0
COLUMBUS MCKINNON CORP N Y COM 199333105 1,222 45,177 SH   SOLE   45,177 0 0
COMERICA INC COM 200340107 40,685 811,099 SH   SOLE   0 811,099 0
DENBURY RES INC COM NEW 247916208 3,627 196,500 SH   SOLE   196,500 0 0
EAGLE BANCORP INC MD COM 268948106 34,615 1,025,632 SH   SOLE   0 1,025,632 0
FIDELITY NATIONAL FINANCIAL CL A 31620R105 357 10,890 SH   SOLE   10,890 0 0
FIDELITY SOUTHERN CORP NEW COM 316394105 12,479 960,659 SH   SOLE   0 960,659 0
FIRST CONN BANCORP INC MD COM 319850103 16,449 1,024,856 SH   SOLE   0 1,024,856 0
FIRST SEC GROUP INC COM NEW 336312202 9,567 4,408,847 SH   SOLE   0 4,408,847 0
FURMANITE CORPORATION COM 361086101 1,467 126,000 SH   SOLE   126,000 0 0
GENERAL MLS INC COM 370334104 1,358 25,844 SH   SOLE   25,844 0 0
GLACIER BANCORP INC NEW COM 37637Q105 24,143 850,709 SH   SOLE   0 850,709 0
HANCOCK HLDG CO COM 410120109 35,329 1,000,245 SH   SOLE   0 1,000,245 0
HERITAGE FINL CORP WASH COM 42722X106 35,375 2,198,590 SH   SOLE   0 2,198,590 0
HOME BANCSHARES INC COM 436893200 24,306 740,572 SH   SOLE   0 740,572 0
IBERIABANK CORP COM 450828108 42,361 612,247 SH   SOLE   0 612,247 0
INFINITY PPTY & CAS CORP COM 45665Q103 2,471 36,761 SH   SOLE   36,761 0 0
ISHARES MSCI EAFE ETF 464287465 615 9,000 SH   SOLE   9,000 0 0
ISHARES SELECT DIVID ETF 464287168 962 12,500 SH   SOLE   12,500 0 0
JOHNSON & JOHNSON COM 478160104 2,181 20,850 SH   SOLE   20,850 0 0
KNOWLES CORP COM 49926D109 4,735 154,023 SH   SOLE   154,023 0 0
LIBBEY INC COM 529898108 2,815 105,666 SH   SOLE   105,666 0 0
MACQUARIE INFRASTR CO LLC MEMBERSHIP INT 55608B105 5,238 83,983 SH   SOLE   83,983 0 0
NATIONAL BK HLDGS CORP CL A 633707104 36,099 1,810,379 SH   SOLE   0 1,810,379 0
OLD NATL BANCORP IND COM 680033107 21,784 1,525,493 SH   SOLE   0 1,525,493 0
PINNACLE FINL PARTNERS INC COM 72346Q104 13,122 277,971 SH   SOLE   0 277,971 0
PINNACLE FOODS INC DEL COM 72348P104 1,988 60,439 SH   SOLE   60,439 0 0
PLUM CREEK TIMBER CO INC COM 729251108 1,175 26,047 SH   SOLE   26,047 0 0
PNC FINL SVCS GROUP INC COM 693475105 41,242 463,131 SH   SOLE   0 463,131 0
POWERSHARES ETF TRUST INTL DIV ACHV 73935X716 1,063 55,000 SH   SOLE   55,000 0 0
PROCTER & GAMBLE CO COM 742718109 1,852 23,565 SH   SOLE   23,565 0 0
REGIONS FINL CORP NEW COM 7591EP100 43,620 4,107,420 SH   SOLE   0 4,107,420 0
SANDY SPRING BANCORP INC COM 800363103 44,595 1,790,235 SH   SOLE   0 1,790,235 0
SHOE CARNIVAL INC COM 824889109 2,148 104,032 SH   SOLE   104,032 0 0
South State Corp COM 840441109 46,133 756,279 SH   SOLE   0 756,279 0
SQUARE 1 FINL INC CL A 85223W101 7,935 417,400 SH   SOLE   0 417,400 0
STATE BK FINL CORP COM 856190103 17,512 1,035,707 SH   SOLE   0 1,035,707 0
SUNCOR ENERGY INC NEW COM 867224107 6,047 141,838 SH   SOLE   141,838 0 0
SUNTRUST BKS INC COM 867914103 29,497 736,323 SH   SOLE   0 736,323 0
SUSSER PETE PARTNERS LP COM U REP LP 869239103 6,391 136,176 SH   SOLE   136,176 0 0
TEAM INC COM 878155100 1,608 39,201 SH   SOLE   39,201 0 0
TORTOISE MLP FD INC COM 89148B101 239 8,000 SH   SOLE   8,000 0 0
TRISTATE CAP HLDGS INC COM 89678F100 12,935 915,447 SH   SOLE   0 915,447 0
TRONOX LTD SHS CL A Q9235V101 3,950 146,853 SH   SOLE   146,853 0 0
UMB FINL CORP COM 902788108 42,641 672,672 SH   SOLE   0 672,672 0
UMPQUA HLDGS CORP COM 904214103 28,260 1,577,014 SH   SOLE   0 1,577,014 0
UNION BANKSHARES CORP NEW COM 90539J109 28,796 1,122,635 SH   SOLE   0 1,122,635 0
UNITED CMNTY BANCORP IND COM 90984R101 872 74,167 SH   SOLE   74,167 0 0
UNITED PARCEL SERVICE INC CL B 911312106 1,447 14,092 SH   SOLE   14,092 0 0
VANGUARD WORLD FDS INF TECH ETF 92204a702 232 2,400 SH   SOLE   2,400 0 0
WASTE MGMT INC DEL COM 94106L109 1,701 38,030 SH   SOLE   38,030 0 0