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 River Bankshares Equity 029326105 2,668 205,236 SH   SOLE   205,236 0 0
Bank First National Corp Equity 06211J100 2,162 36,683 SH   SOLE   36,683 0 0
Bankwell Financial Group Inc Equity 06654A103 3,875 132,795 SH   SOLE   132,795 0 0
Carolina Trust Bancshares Inc Equity 14422P105 114 13,875 SH   SOLE   13,875 0 0
Comerica Inc Equity 200340107 6,759 92,185 SH   SOLE   92,185 0 0
Central Valley Community Banco Equity 155685100 926 47,364 SH   SOLE   47,364 0 0
Community West Bancshares Equity 204157101 2,380 233,780 SH   SOLE   233,780 0 0
Citizens First Corp Equity 17462Q107 4,359 175,677 SH   SOLE   175,677 0 0
1st Constitution Bancorp Equity 31986N102 2,225 125,198 SH   SOLE   125,198 0 0
First Citizens BancShares Inc/ Equity 31946M103 2,498 6,135 SH   SOLE   6,135 0 0
First Mid Bancshares Inc Equity 320866106 4,395 131,900 SH   SOLE   131,900 0 0
Heritage Commerce Corp Equity 426927109 363 30,000 SH   SOLE   30,000 0 0
Lakeland Bancorp Inc Equity 511637100 534 35,764 SH   SOLE   35,764 0 0
Middlefield Banc Corp Equity 596304204 4,252 103,174 SH   SOLE   103,174 0 0
NI Holdings Inc Equity 65342T106 0 0 SH   SOLE   0 0 0
Oak Valley Bancorp Equity 671807105 4,986 282,665 SH   SOLE   282,665 0 0
Peapack Gladstone Financial Co Equity 704699107 3,986 152,009 SH   SOLE   152,009 0 0
Plumas Bancorp Equity 729273102 7,925 347,747 SH   SOLE   347,747 0 0
Regions Financial Corp Equity 7591EP100 6,486 458,383 SH   SOLE   458,383 0 0
Riverview Financial Corp Equity 76940Q105 2,318 201,587 SH   SOLE   201,587 0 0
Southern Missouri Bancorp Inc Equity 843380106 2,014 65,394 SH   SOLE   65,394 0 0
SmartFinancial Inc Equity 83190L208 479 25,350 SH   SOLE   25,350 0 0
Community Financial Corp/The Equity 20368X101 1,684 59,347 SH   SOLE   59,347 0 0
Timberland Bancorp Inc/WA Equity 887098101 7,916 282,919 SH   SOLE   282,919 0 0
Valley National Bancorp Equity 919794107 2,920 304,811 SH   SOLE   304,811 0 0
Wellesley Bank Equity 949485106 1,292 42,328 SH   SOLE   42,328 0 0
Zions Bancorp NA Equity 989701107 6,267 138,000 SH   SOLE   138,000 0 0
ZIONS BANCORP NA Warrant 989701115 714 55,000 SH   SOLE   55,000 0 0
Bay Banks of Virginia Inc Equity 072035108 2,779 362,744 SH   SOLE   362,744 0 0
Farmers & Merchants Bancshares Equity 308856103 2,595 85,793 SH   SOLE   85,793 0 0
First National Corp/VA Equity 32106V107 5,468 282,423 SH   SOLE   282,423 0 0
Highlands Bankshares Inc/VA Equity 430893107 2,795 450,764 SH   SOLE   450,764 0 0
CIB Marine Bancshares Inc Equity 12542L103 1,871 1,199,545 SH   SOLE   1,199,545 0 0
Avidbank Holdings Inc Equity 05368J103 2,084 90,006 SH   SOLE   90,006 0 0
Baker Boyer Bancorp Equity 057124109 505 7,318 SH   SOLE   7,318 0 0
Bank of Southern California NA Equity 065104101 3,630 275,000 SH   SOLE   275,000 0 0
Bank of Fincastle/The Equity 062113105 1,099 486,486 SH   SOLE   486,486 0 0
Benchmark Bankshares Inc Equity 08160E207 3,023 151,166 SH   SOLE   151,166 0 0
Blue Ridge Bankshares Inc Equity 095825105 4,001 241,120 SH   SOLE   241,120 0 0
Ballston Spa Bancorp Inc Equity 058701103 350 6,864 SH   SOLE   6,864 0 0
Bank of Southside Virginia Cor Equity 065121105 13 40 SH   SOLE   40 0 0
Beach Community Bank Equity 07332N103 2,921 600,000 SH   SOLE   600,000 0 0
Boyle Bancorp Inc Equity 103442109 1,261 16,150 SH   SOLE   16,150 0 0
California Bancorp Inc Equity 13005U101 1,825 96,075 SH   SOLE   96,075 0 0
CalWest Bancorp Equity 13169Q102 973 2,552,500 SH   SOLE   2,552,500 0 0
Citba Financial Corp Equity 173024100 2,391 43,470 SH   SOLE   43,470 0 0
CBB Bancorp Inc Equity 12481T109 1,161 99,228 SH   SOLE   99,228 0 0
Comunibanc Corp Equity 205846108 1,485 48,238 SH   SOLE   48,238 0 0
Community Bank of the Bay Equity 203485107 3,801 559,000 SH   SOLE   559,000 0 0
Citizens Commerce Bancshares I Equity 17452P200 1,256 193,182 SH   SOLE   193,182 0 0
Coeur d'Alene Bancorp Inc Equity 192080109 193 22,000 SH   SOLE   22,000 0 0
Cecil Bancorp Inc Equity 149841207 551 36,750,000 SH   SOLE   36,750,000 0 0
Croghan Bancshares Inc Equity 227072105 305 6,005 SH   SOLE   6,005 0 0
CNB Bank Shares Inc Equity 18978K105 15 800 SH   SOLE   800 0 0
Canandaigua National Corp Equity 137143103 640 3,458 SH   SOLE   3,458 0 0
Chesapeake Financial Shares In Equity 16517A109 1,023 38,441 SH   SOLE   38,441 0 0
Cornerstone Community Bancorp Equity 21925R108 1,575 89,990 SH   SOLE   89,990 0 0
Cashmere Valley Bank Equity 14756K102 3,770 64,447 SH   SOLE   64,447 0 0
Crystal Valley Financial Corp Equity 22941P100 3,464 68,868 SH   SOLE   68,868 0 0
Citizens Bancorp/OR Equity 172950107 703 36,980 SH   SOLE   36,980 0 0
Delmar Bancorp Equity 247035207 1,259 177,060 SH   SOLE   177,060 0 0
Dacotah Banks Inc Equity 233422104 1,308 38,427 SH   SOLE   38,427 0 0
Delmarva Bancshares Inc Equity 247100100 2,878 366,662 SH   SOLE   366,662 0 0
Denver Bankshares Inc Equity 249082108 547 1,983 SH   SOLE   1,983 0 0
Embassy Bancorp Inc Equity 290791102 1,964 130,486 SH   SOLE   130,486 0 0
Exchange Bank/Santa Rosa CA Equity 301227203 13,658 84,306 SH   SOLE   84,306 0 0
First Bankers Trustshares Inc Equity 31929F109 5,009 146,250 SH   SOLE   146,250 0 0
Farmers Bankshares Inc Equity 309479103 1,522 85,070 SH   SOLE   85,070 0 0
First Citizens BancShares Inc/ Equity 31946M202 9,215 26,632 SH   SOLE   26,632 0 0
1st Colonial Bancorp Inc Equity 319716106 1,210 103,731 SH   SOLE   103,731 0 0
Fentura Financial Inc Equity 314645102 2,652 136,364 SH   SOLE   136,364 0 0
FFD Financial Corp Equity 30243C107 1,051 19,825 SH   SOLE   19,825 0 0
Foresight Financial Group Inc Equity 345526107 4,901 139,757 SH   SOLE   139,757 0 0
First National of Nebraska Inc Equity 335720108 11,020 1,211 SH   SOLE   1,211 0 0
1st Capital Bank Equity 31944C107 47 2,911 SH   SOLE   2,911 0 0
Farmers & Merchants Bank of Lo Equity 308243104 6,363 776 SH   SOLE   776 0 0
First Northern Community Banco Equity 335925103 2,150 186,919 SH   SOLE   186,919 0 0
First Ottawa Bancshares Inc Equity 335876108 7 100 SH   SOLE   100 0 0
First Citizens National Bank/U Equity 319567103 48 551 SH   SOLE   551 0 0
First Reliance Bancshares Inc Equity 33615Q100 2,672 381,677 SH   SOLE   381,677 0 0
Grand River Commerce Inc Equity 386441109 1,468 212,727 SH   SOLE   212,727 0 0
Heritage Bancorporation Inc Equity 42720R101 2,774 163,200 SH   SOLE   163,200 0 0
Highlands Bankshares Inc/WV Equity 43088W104 1,553 35,214 SH   SOLE   35,214 0 0
HFB Financial Corp Equity 40417C106 6 190 SH   SOLE   190 0 0
Heartland BancCorp Equity 421962101 3,612 45,551 SH   SOLE   45,551 0 0
Iowa First Bancshares Corp Equity 46246F202 2,775 78,180 SH   SOLE   78,180 0 0
Ledyard Financial Group Inc Equity 523338101 1,949 96,478 SH   SOLE   96,478 0 0
Mountain Commerce Bancorp Inc Equity 624004107 441 23,497 SH   SOLE   23,497 0 0
Middlebury National Corp Equity 596237107 543 14,950 SH   SOLE   14,950 0 0
Merchants Financial Group Inc Equity 588538108 6,460 87,895 SH   SOLE   87,895 0 0
Marquette National Corp Equity 571599109 3,063 95,725 SH   SOLE   95,725 0 0
MNB Corp Equity 553104100 373 11,467 SH   SOLE   11,467 0 0
Mission Bancorp/Bakersfield CA Equity 605015106 7,762 91,292 SH   SOLE   91,292 0 0
North Dallas Bank & Trust Co Equity 659012108 2,040 24,580 SH   SOLE   24,580 0 0
Northway Financial Inc Equity 667270201 2,362 81,810 SH   SOLE   81,810 0 0
Oregon Pacific Bancorp Equity 686040205 3,720 676,412 SH   SOLE   676,412 0 0
Oxford Bank Corp/MI Equity 69140P100 2,012 111,788 SH   SOLE   111,788 0 0
Pinnacle Bank/Gilroy CA Equity 72346K107 1,441 120,066 SH   SOLE   120,066 0 0
Prime Meridian Holding Co Equity 74164R107 1,837 90,700 SH   SOLE   90,700 0 0
PSB Holding Corp Equity 69362L100 1,484 59,855 SH   SOLE   59,855 0 0
Redwood Financial Inc Equity 757903109 1,141 12,007 SH   SOLE   12,007 0 0
Revere Bank Equity 761402106 1,195 41,149 SH   SOLE   41,149 0 0
Redwood Capital Bancorp Equity 75777X100 2,966 174,478 SH   SOLE   174,478 0 0
South Atlantic Bancshares Inc Equity 83636T104 3,457 284,507 SH   SOLE   284,507 0 0
State Bank Corp Equity 856121108 1,437 112,494 SH   SOLE   112,494 0 0
Southern BancShares NC Inc Equity 842243107 8,901 2,543 SH   SOLE   2,543 0 0
SouthCrest Financial Group Inc Equity 84129X107 3,300 333,317 SH   SOLE   333,317 0 0
Security Bancorp Inc/TN Equity 81377P109 902 15,914 SH   SOLE   15,914 0 0
Santa Cruz County Bank Equity 801827106 3,558 73,218 SH   SOLE   73,218 0 0
Southeastern Banking Corp Equity 84158P108 1,482 76,516 SH   SOLE   76,516 0 0
Security Federal Corp Equity 813903101 1,694 54,548 SH   SOLE   54,548 0 0
Star Financial Group Inc Equity 855121109 1,457 23,016 SH   SOLE   23,016 0 0
Summit Bancshares Inc/CA Equity 866010101 2,373 47,458 SH   SOLE   47,458 0 0
Security National Corp/IA Equity 814784104 3,736 29,766 SH   SOLE   29,766 0 0
Solvay Bank Equity 83441Q105 2,736 67,539 SH   SOLE   67,539 0 0
Surrey Bancorp Equity 86888W105 1,429 98,456 SH   SOLE   98,456 0 0
Tri City Bankshares Corp Equity 895364107 698 33,622 SH   SOLE   33,622 0 0
Town & Country Financial Corp Equity 892039108 1,209 62,828 SH   SOLE   62,828 0 0
Tri-County Financial Group Inc Equity 89546P108 2,134 53,281 SH   SOLE   53,281 0 0
United Bancorporation of Alaba Equity 90944R100 2,211 108,471 SH   SOLE   108,471 0 0
United Tennessee Bankshares In Equity 91307P202 931 44,463 SH   SOLE   44,463 0 0
Woodlands Financial Services C Equity 979685104 1,690 58,074 SH   SOLE   58,074 0 0
1867 Western Financial Corp Equity 282518109 454 63 SH   SOLE   63 0 0
West Suburban Bancorp Inc Equity 956152409 4,515 7,697 SH   SOLE   7,697 0 0
WTB Financial Corp Equity 929334209 6,232 17,641 SH   SOLE   17,641 0 0
York Traditions Bank Equity 987159100 3,582 190,044 SH   SOLE   190,044 0 0