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
Alpine Banks of Colorado Equity 020810107 644 130 SH   SOLE   130 0 0
American River Bankshares Equity 029326105 3,052 205,236 SH   SOLE   205,236 0 0
Avidbank Holdings Inc Equity 05368J103 2,228 90,006 SH   SOLE   90,006 0 0
Bay Banks of Virginia Inc Equity 072035108 3,083 362,744 SH   SOLE   362,744 0 0
Baker Boyer Bancorp Equity 057124109 521 7,318 SH   SOLE   7,318 0 0
Bank of Southern California NA Equity 065104101 3,465 275,000 SH   SOLE   275,000 0 0
Baycom Corp Equity 07272M107 0 0 SH   SOLE   0 0 0
Bank of Fincastle/The Equity 062113105 1,508 486,486 SH   SOLE   486,486 0 0
Blue Ridge Bankshares Inc Equity 095825105 5,051 241,119 SH   SOLE   241,119 0 0
Ballston Spa Bancorp Inc Equity 058701103 391 6,864 SH   SOLE   6,864 0 0
Bank of Southside Virginia Cor Equity 065121105 12 40 SH   SOLE   40 0 0
Beach Community Bank Equity 07332N103 3,000 600,000 SH   SOLE   600,000 0 0
Bankwell Financial Group Inc Equity 06654A103 3,830 132,795 SH   SOLE   132,795 0 0
Boyle Bancorp Inc Equity 103442109 1,260 16,150 SH   SOLE   16,150 0 0
California Bancorp Inc Equity 13005U101 3,213 161,074 SH   SOLE   161,074 0 0
CalWest Bancorp Equity 13169Q102 0 0 SH   SOLE   0 0 0
Citba Financial Corp Equity 173024100 2,766 86,940 SH   SOLE   86,940 0 0
CBB Bancorp Inc Equity 12481T109 0 0 SH   SOLE   0 0 0
Comunibanc Corp Equity 205846108 1,486 48,238 SH   SOLE   48,238 0 0
Community Bank of the Bay Equity 203485107 4,053 559,000 SH   SOLE   559,000 0 0
Citizens Commerce Bancshares I Equity 17452P200 1,352 193,182 SH   SOLE   193,182 0 0
Coeur d'Alene Bancorp Inc Equity 192080109 0 0 SH   SOLE   0 0 0
Cecil Bancorp Inc Equity 149841306 551 367,501 SH   SOLE   367,501 0 0
Citizens Financial Group Inc Equity 174610105 4,674 115,100 SH   SOLE   115,100 0 0
Croghan Bancshares Inc Equity 227072105 343 6,403 SH   SOLE   6,403 0 0
CIB Marine Bancshares Inc Equity 12542L103 1,592 1,153,445 SH   SOLE   1,153,445 0 0
Comerica Inc Equity 200340107 6,654 92,735 SH   SOLE   92,735 0 0
CNB Community Bancorp Inc Equity 12618F105 825 21,426 SH   SOLE   21,426 0 0
CNB Bank Shares Inc Equity 18978K105 308 17,212 SH   SOLE   17,212 0 0
Canandaigua National Corp Equity 137143103 1,230 6,044 SH   SOLE   6,044 0 0
Chesapeake Financial Shares In Equity 16517A109 1,107 46,129 SH   SOLE   46,129 0 0
Cornerstone Community Bancorp Equity 21925R108 2,041 102,029 SH   SOLE   102,029 0 0
Cashmere Valley Bank Equity 14756K102 3,899 64,447 SH   SOLE   64,447 0 0
Central Valley Community Banco Equity 155685100 1,026 47,364 SH   SOLE   47,364 0 0
Community West Bancshares Equity 204157101 2,593 233,611 SH   SOLE   233,611 0 0
Crystal Valley Financial Corp Equity 22941P100 3,802 68,868 SH   SOLE   68,868 0 0
Citizens Bancorp/OR Equity 172950107 1,101 59,024 SH   SOLE   59,024 0 0
Delmar Bancorp Equity 247035207 1,425 177,059 SH   SOLE   177,059 0 0
Dacotah Banks Inc Equity 233422104 1,249 38,427 SH   SOLE   38,427 0 0
Delmarva Bancshares Inc Equity 247100100 3,025 366,662 SH   SOLE   366,662 0 0
Denver Bankshares Inc Equity 249082108 555 1,983 SH   SOLE   1,983 0 0
Embassy Bancorp Inc Equity 290791102 2,414 130,486 SH   SOLE   130,486 0 0
Exchange Bank/Santa Rosa CA Equity 301227203 15,091 84,306 SH   SOLE   84,306 0 0
First Bankers Trustshares Inc Equity 31929F109 4,475 146,250 SH   SOLE   146,250 0 0
Farmers Bankshares Inc Equity 309479103 1,455 85,070 SH   SOLE   85,070 0 0
1st Constitution Bancorp Equity 31986N102 3,378 152,656 SH   SOLE   152,656 0 0
First Citizens BancShares Inc/ Equity 31946M202 12,378 28,455 SH   SOLE   28,455 0 0
1st Colonial Bancorp Inc Equity 319716106 1,079 103,733 SH   SOLE   103,733 0 0
Fentura Financial Inc Equity 314645102 3,430 136,364 SH   SOLE   136,364 0 0
FFD Financial Corp Equity 30243C107 1,343 20,050 SH   SOLE   20,050 0 0
Foresight Financial Group Inc Equity 345526107 5,017 139,757 SH   SOLE   139,757 0 0
First National of Nebraska Inc Equity 335720108 13,503 1,211 SH   SOLE   1,211 0 0
1st Capital Bank Equity 31944C107 253 16,592 SH   SOLE   16,592 0 0
First Mid Bancshares Inc Equity 320866106 4,649 131,900 SH   SOLE   131,900 0 0
Farmers & Merchants Bank of Lo Equity 308243104 6,080 776 SH   SOLE   776 0 0
Farmers & Merchants Bancshares Equity 308856103 2,711 147,637 SH   SOLE   147,637 0 0
First Northern Community Banco Equity 335925103 2,150 186,917 SH   SOLE   186,917 0 0
First Ottawa Bancshares Inc Equity 335876108 80 1,107 SH   SOLE   1,107 0 0
First Reliance Bancshares Inc Equity 33615Q100 2,985 381,677 SH   SOLE   381,677 0 0
First National Corp/VA Equity 32106V107 6,094 284,751 SH   SOLE   284,751 0 0
Grand River Commerce Inc Equity 386441109 1,202 212,727 SH   SOLE   212,727 0 0
Highlands Bankshares Inc/WV Equity 43088W104 572 14,750 SH   SOLE   14,750 0 0
Heartland BancCorp Equity 421962101 4,327 45,551 SH   SOLE   45,551 0 0
Highlands Bankshares Inc/VA Equity 430893107 0 0 SH   SOLE   0 0 0
Heritage Southeast Bancorporat Equity 42727V105 3,102 155,105 SH   SOLE   155,105 0 0
Heritage Commerce Corp Equity 426927109 4,324 337,034 SH   SOLE   337,034 0 0
County Bancorp Inc Equity 221907108 0 0 SH   SOLE   0 0 0
Iowa First Bancshares Corp Equity 46246F202 2,952 68,180 SH   SOLE   68,180 0 0
Ledyard Financial Group Inc Equity 523338101 2,408 97,278 SH   SOLE   97,278 0 0
Lighthouse Bank Equity 53223T106 0 0 SH   SOLE   0 0 0
Middlefield Banc Corp Equity 596304204 5,384 206,348 SH   SOLE   206,348 0 0
Mountain Commerce Bancorp Inc Equity 624004107 734 33,197 SH   SOLE   33,197 0 0
Middlebury National Corp Equity 596237107 691 18,683 SH   SOLE   18,683 0 0
Merchants Financial Group Inc Equity 588538108 6,447 87,895 SH   SOLE   87,895 0 0
Marquette National Corp Equity 571599109 3,058 95,725 SH   SOLE   95,725 0 0
MNB Corp Equity 553104100 2,113 34,365 SH   SOLE   34,365 0 0
Mission Bancorp/Bakersfield CA Equity 605015106 6,352 73,855 SH   SOLE   73,855 0 0
North Dallas Bank & Trust Co Equity 659012108 1,905 24,580 SH   SOLE   24,580 0 0
Northway Financial Inc Equity 667270201 0 0 SH   SOLE   0 0 0
Orange County Bancorp Inc Equity 68417L107 0 0 SH   SOLE   0 0 0
Oregon Pacific Bancorp Equity 686040205 4,126 676,412 SH   SOLE   676,412 0 0
Oak Valley Bancorp Equity 671807105 5,511 283,176 SH   SOLE   283,176 0 0
Oxford Bank Corp/MI Equity 69140P100 3,125 133,788 SH   SOLE   133,788 0 0
Pinnacle Bank/Gilroy CA Equity 72346K107 1,388 120,066 SH   SOLE   120,066 0 0
Presidio Bank Equity 74101A100 0 0 SH   SOLE   0 0 0
Peapack Gladstone Financial Co Equity 704699107 4,734 153,209 SH   SOLE   153,209 0 0
Plumas Bancorp Equity 729273102 9,174 347,747 SH   SOLE   347,747 0 0
Prime Meridian Holding Co Equity 74164R107 1,859 90,700 SH   SOLE   90,700 0 0
PSB Holding Corp Equity 69362L100 1,663 59,854 SH   SOLE   59,854 0 0
Redwood Financial Inc Equity 757903109 0 0 SH   SOLE   0 0 0
Regions Financial Corp Equity 7591EP100 7,952 463,383 SH   SOLE   463,383 0 0
Riverview Financial Corp Equity 76940Q105 0 0 SH   SOLE   0 0 0
Red River Bancshares Inc Equity 75686R202 1,916 34,173 SH   SOLE   34,173 0 0
Redwood Capital Bancorp Equity 75777X100 3,238 174,478 SH   SOLE   174,478 0 0
South Atlantic Bancshares Inc Equity 83636T104 3,559 284,508 SH   SOLE   284,508 0 0
State Bank Corp Equity 856121108 0 0 SH   SOLE   0 0 0
Southern BancShares NC Inc Equity 842243107 9,727 2,543 SH   SOLE   2,543 0 0
SouthCrest Financial Group Inc Equity 84129X107 3,020 333,317 SH   SOLE   333,317 0 0
Security Bancorp Inc/TN Equity 81377P109 939 15,914 SH   SOLE   15,914 0 0
Santa Cruz County Bank Equity 801827106 4,788 90,771 SH   SOLE   90,771 0 0
Southeastern Banking Corp Equity 84158P108 1,667 79,016 SH   SOLE   79,016 0 0
Star Financial Group Inc Equity 855121109 1,508 23,016 SH   SOLE   23,016 0 0
Shore Community Bank Equity 825112105 0 0 SH   SOLE   0 0 0
Summit Bancshares Inc/CA Equity 866010101 1,661 42,458 SH   SOLE   42,458 0 0
Southern Missouri Bancorp Inc Equity 843380106 2,509 65,394 SH   SOLE   65,394 0 0
Security National Corp/IA Equity 814784104 4,093 30,315 SH   SOLE   30,315 0 0
Synovus Financial Corp Equity 87161C501 5,096 130,000 SH   SOLE   130,000 0 0
Solvay Bank Equity 83441Q105 2,802 76,674 SH   SOLE   76,674 0 0
Surrey Bancorp Equity 86888W105 1,419 98,456 SH   SOLE   98,456 0 0
Community Financial Corp/The Equity 20368X101 2,103 59,347 SH   SOLE   59,347 0 0
Tri City Bankshares Corp Equity 895364107 1,219 61,622 SH   SOLE   61,622 0 0
Timberland Bancorp Inc/WA Equity 887098101 8,414 282,919 SH   SOLE   282,919 0 0
Town & Country Financial Corp Equity 892039108 1,592 71,086 SH   SOLE   71,086 0 0
Tri-County Financial Group Inc Equity 89546P108 2,166 53,281 SH   SOLE   53,281 0 0
United Bancorporation of Alaba Equity 90944R100 2,953 104,671 SH   SOLE   104,671 0 0
United Tennessee Bankshares In Equity 91307P202 1,030 44,463 SH   SOLE   44,463 0 0
Valley National Bancorp Equity 919794107 3,490 304,810 SH   SOLE   304,810 0 0
Wayne Savings Bancshares Inc Equity 94624Q101 718 30,544 SH   SOLE   30,544 0 0
Woodlands Financial Services C Equity 979685104 2,519 77,506 SH   SOLE   77,506 0 0
Wellesley Bank Equity 949485106 338 7,474 SH   SOLE   7,474 0 0
1867 Western Financial Corp Equity 282518109 536 63 SH   SOLE   63 0 0
West Suburban Bancorp Inc Equity 956152409 4,507 7,697 SH   SOLE   7,697 0 0
WTB Financial Corp Equity 929334209 6,714 17,641 SH   SOLE   17,641 0 0
York Traditions Bank Equity 987159100 4,062 209,048 SH   SOLE   209,048 0 0
Zions Bancorp NA Equity 989701107 7,165 138,000 SH   SOLE   138,000 0 0
ZIONS BANCORP NA Warrant 989701115 1,073 55,000 SH   SOLE   55,000 0 0