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 590 173 SH   SOLE   173 0 0
American River Bankshares Equity 029326105 1,769 205,235 SH   SOLE   205,235 0 0
Avidbank Holdings Inc Equity 05368J103 1,575 100,006 SH   SOLE   100,006 0 0
Bay Banks of Virginia Inc Equity 072035108 1,977 362,744 SH   SOLE   362,744 0 0
Baker Boyer Bancorp Equity 057124109 271 4,793 SH   SOLE   4,793 0 0
Bank of Southern California NA Equity 065104101 2,409 275,000 SH   SOLE   275,000 0 0
Bank of Fincastle/The Equity 062113105 1,070 486,486 SH   SOLE   486,486 0 0
Blue Ridge Bankshares Inc Equity 095825105 3,846 241,119 SH   SOLE   241,119 0 0
Ballston Spa Bancorp Inc Equity 058701103 321 6,864 SH   SOLE   6,864 0 0
Bank of Southside Virginia Cor Equity 065121105 6 40 SH   SOLE   40 0 0
Beach Community Bank Equity 07332N103 2,100 600,000 SH   SOLE   600,000 0 0
Bankwell Financial Group Inc Equity 06654A103 2,025 132,682 SH   SOLE   132,682 0 0
Boyle Bancorp Inc Equity 103442109 963 16,050 SH   SOLE   16,050 0 0
California Bancorp Inc Equity 13005U101 1,951 166,064 SH   SOLE   166,064 0 0
Citba Financial Corp Equity 173024100 1,627 73,940 SH   SOLE   73,940 0 0
Comunibanc Corp Equity 205846108 1,109 48,238 SH   SOLE   48,238 0 0
Community Bank of the Bay Equity 203485107 2,767 559,000 SH   SOLE   559,000 0 0
Citizens Commerce Bancshares I Equity 17452P200 1,194 190,982 SH   SOLE   190,982 0 0
Cecil Bancorp Inc Equity 149841306 368 367,501 SH   SOLE   367,501 0 0
Citizens Financial Group Inc Equity 174610105 2,540 135,100 SH   SOLE   135,100 0 0
Croghan Bancshares Inc Equity 227072105 241 7,269 SH   SOLE   7,269 0 0
CIB Marine Bancshares Inc Equity 12542L103 0 0 SH   SOLE   0 0 0
Comerica Inc Equity 200340107 2,794 95,235 SH   SOLE   95,235 0 0
CNB Community Bancorp Inc Equity 12618F105 846 29,678 SH   SOLE   29,678 0 0
CNB Bank Shares Inc Equity 18978K105 0 0 SH   SOLE   0 0 0
Canandaigua National Corp Equity 137143103 1,260 7,001 SH   SOLE   7,001 0 0
Chesapeake Financial Shares In Equity 16517A109 0 0 SH   SOLE   0 0 0
Cornerstone Community Bancorp Equity 21925R108 1,639 121,379 SH   SOLE   121,379 0 0
Cashmere Valley Bank Equity 14756K102 2,525 57,397 SH   SOLE   57,397 0 0
Central Valley Community Banco Equity 155685100 618 47,364 SH   SOLE   47,364 0 0
Community West Bancshares Equity 204157101 1,423 233,611 SH   SOLE   233,611 0 0
Crystal Valley Financial Corp Equity 22941P100 2,163 51,308 SH   SOLE   51,308 0 0
Citizens Bancorp/OR Equity 172950107 847 66,917 SH   SOLE   66,917 0 0
Delmar Bancorp Equity 247035207 872 157,059 SH   SOLE   157,059 0 0
Dacotah Banks Inc Equity 233422104 961 38,427 SH   SOLE   38,427 0 0
Delmarva Bancshares Inc Equity 247100100 2,127 366,662 SH   SOLE   366,662 0 0
Denver Bankshares Inc Equity 249082108 535 1,983 SH   SOLE   1,983 0 0
Enterprise Bancorp Inc/MA Equity 293668109 610 22,585 SH   SOLE   22,585 0 0
Embassy Bancorp Inc Equity 290791102 1,362 130,486 SH   SOLE   130,486 0 0
Exchange Bank/Santa Rosa CA Equity 301227203 9,609 84,106 SH   SOLE   84,106 0 0
First Bankers Trustshares Inc Equity 31929F109 3,803 146,250 SH   SOLE   146,250 0 0
Farmers Bankshares Inc Equity 309479103 1,106 85,070 SH   SOLE   85,070 0 0
1st Constitution Bancorp Equity 31986N102 2,044 154,298 SH   SOLE   154,298 0 0
First Citizens BancShares Inc/ Equity 31946M202 8,324 28,703 SH   SOLE   28,703 0 0
1st Colonial Bancorp Inc Equity 319716106 479 108,920 SH   SOLE   108,920 0 0
Fentura Financial Inc Equity 314645102 2,080 136,364 SH   SOLE   136,364 0 0
FFD Financial Corp Equity 30243C107 1,007 17,973 SH   SOLE   17,973 0 0
Foresight Financial Group Inc Equity 345526107 3,418 139,757 SH   SOLE   139,757 0 0
First National of Nebraska Inc Equity 335720108 7,387 859 SH   SOLE   859 0 0
1st Capital Bank Equity 31944C107 377 39,591 SH   SOLE   39,591 0 0
First Mid Bancshares Inc Equity 320866106 3,131 131,900 SH   SOLE   131,900 0 0
Farmers & Merchants Bank of Lo Equity 308243104 3,693 626 SH   SOLE   626 0 0
Farmers and Merchants Bancshar Equity 308856103 2,000 147,637 SH   SOLE   147,637 0 0
First Northern Community Banco Equity 335925103 1,592 196,263 SH   SOLE   196,263 0 0
First Ottawa Bancshares Inc Equity 335876108 58 1,107 SH   SOLE   1,107 0 0
First Reliance Bancshares Inc Equity 33615Q100 2,099 381,677 SH   SOLE   381,677 0 0
First National Corp/VA Equity 32106V107 4,271 284,751 SH   SOLE   284,751 0 0
Grand River Commerce Inc Equity 386441109 968 212,727 SH   SOLE   212,727 0 0
Highlands Bankshares Inc/WV Equity 43088W104 0 0 SH   SOLE   0 0 0
Heartland BancCorp Equity 421962101 2,169 39,719 SH   SOLE   39,719 0 0
Heritage Southeast BanCorp Inc Equity 42727V105 1,908 155,105 SH   SOLE   155,105 0 0
Heritage Commerce Corp Equity 426927109 2,585 337,034 SH   SOLE   337,034 0 0
Iowa First Bancshares Corp Equity 46246F202 2,165 68,180 SH   SOLE   68,180 0 0
Ledyard Financial Group Inc Equity 523338101 1,768 95,578 SH   SOLE   95,578 0 0
Middlefield Banc Corp Equity 596304204 2,472 156,348 SH   SOLE   156,348 0 0
Macatawa Bank Corp Equity 554225102 676 95,000 SH   SOLE   95,000 0 0
Mountain Commerce Bancorp Inc Equity 624004107 503 33,197 SH   SOLE   33,197 0 0
Middlebury National Corp Equity 596237107 582 18,783 SH   SOLE   18,783 0 0
Merchants Financial Group Inc Equity 588538108 5,272 87,495 SH   SOLE   87,495 0 0
Marquette National Corp Equity 571599109 2,202 95,725 SH   SOLE   95,725 0 0
MNB Corp Equity 553104100 1,282 32,046 SH   SOLE   32,046 0 0
Mission Bancorp/Bakersfield CA Equity 605015106 3,554 53,040 SH   SOLE   53,040 0 0
North Dallas Bank & Trust Co Equity 659012108 1,197 21,759 SH   SOLE   21,759 0 0
Oregon Pacific Bancorp Equity 686040205 3,051 676,412 SH   SOLE   676,412 0 0
Oak Valley Bancorp Equity 671807105 4,536 288,176 SH   SOLE   288,176 0 0
Oxford Bank Corp/MI Equity 69140P100 2,381 133,788 SH   SOLE   133,788 0 0
Pinnacle Bank/Gilroy CA Equity 72346K107 1,298 176,566 SH   SOLE   176,566 0 0
Peapack-Gladstone Financial Co Equity 704699107 2,750 153,209 SH   SOLE   153,209 0 0
Plumas Bancorp Equity 729273102 6,433 347,747 SH   SOLE   347,747 0 0
Prime Meridian Holding Co Equity 74164R107 1,338 95,200 SH   SOLE   95,200 0 0
Pinnacle Financial Partners In Equity 72346Q104 2,784 74,152 SH   SOLE   74,152 0 0
PSB Holding Corp Equity 69362L100 0 0 SH   SOLE   0 0 0
Regions Financial Corp Equity 7591EP100 4,157 463,383 SH   SOLE   463,383 0 0
Red River Bancshares Inc Equity 75686R202 1,272 34,173 SH   SOLE   34,173 0 0
Redwood Capital Bancorp Equity 75777X100 1,954 174,478 SH   SOLE   174,478 0 0
South Atlantic Bancshares Inc Equity 83636T104 2,276 284,508 SH   SOLE   284,508 0 0
Southern BancShares NC Inc Equity 842243107 8,079 2,505 SH   SOLE   2,505 0 0
SouthCrest Financial Group Inc Equity 84129X107 2,190 333,317 SH   SOLE   333,317 0 0
Security Bancorp Inc/TN Equity 81377P109 360 6,914 SH   SOLE   6,914 0 0
Santa Cruz County Bank Equity 801827106 3,290 90,771 SH   SOLE   90,771 0 0
Southeastern Banking Corp Equity 84158P108 1,462 79,016 SH   SOLE   79,016 0 0
Star Financial Group Inc Equity 855121109 1,252 22,765 SH   SOLE   22,765 0 0
Summit Bancshares Inc/CA Equity 866010101 1,053 42,458 SH   SOLE   42,458 0 0
Southern Missouri Bancorp Inc Equity 843380106 1,482 61,079 SH   SOLE   61,079 0 0
Security National Corp/IA Equity 814784104 2,040 20,400 SH   SOLE   20,400 0 0
Synovus Financial Corp Equity 87161C501 2,283 130,000 SH   SOLE   130,000 0 0
Solvay Bank Equity 83441Q105 2,495 83,173 SH   SOLE   83,173 0 0
Surrey Bancorp Equity 86888W105 994 98,456 SH   SOLE   98,456 0 0
Community Financial Corp/The Equity 20368X101 1,312 59,347 SH   SOLE   59,347 0 0
Tri City Bankshares Corp Equity 895364107 1,476 99,399 SH   SOLE   99,399 0 0
Timberland Bancorp Inc/WA Equity 887098101 5,175 282,919 SH   SOLE   282,919 0 0
Town and Country Financial Cor Equity 892039108 1,283 71,286 SH   SOLE   71,286 0 0
Tri-County Financial Group Inc Equity 89546P108 1,598 53,281 SH   SOLE   53,281 0 0
United BanCorp of Alabama Inc Equity 90944R100 1,556 82,971 SH   SOLE   82,971 0 0
United Tennessee Bankshares In Equity 91307P202 711 44,463 SH   SOLE   44,463 0 0
Valley National Bancorp Equity 919794107 2,228 304,810 SH   SOLE   304,810 0 0
Wayne Savings Bancshares Inc Equity 94624Q101 620 37,584 SH   SOLE   37,584 0 0
Woodlands Financial Services C Equity 979685104 1,725 77,506 SH   SOLE   77,506 0 0
Wellesley Bank Equity 949485106 0 0 SH   SOLE   0 0 0
1867 Western Financial Corp Equity 282518109 285 57 SH   SOLE   57 0 0
West Suburban Bancorp Inc Equity 956152409 2,902 7,697 SH   SOLE   7,697 0 0
WTB Financial Corp Equity 929334209 3,815 14,641 SH   SOLE   14,641 0 0
York Traditions Bank Equity 987159100 2,977 209,048 SH   SOLE   209,048 0 0
Zions Bancorp NA Equity 989701107 3,693 138,000 SH   SOLE   138,000 0 0
ZIONS BANCORP NA Warrant 989701115 18 55,000 SH   SOLE   55,000 0 0
SPDR S&P Regional Banking ETF Com 78464A698 110 40,000 SH   SOLE   40,000 0 0