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
Estimated average burden
hours per response: 23.8
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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
1867 Western Financial Corp Com 282518109   303,400 74 SH   SOLE 0 74 0 0
1st Capital Bancorp Com 319427100   1,510,769 167,491 SH   SOLE 0 167,491 0 0
1st Colonial Bancorp Inc Com 319716106   1,144,224 95,352 SH   SOLE 0 95,352 0 0
Alpine Banks of Colorado Com 020810107   3,741,737 128,174 SH   SOLE 0 128,174 0 0
American Business Bank Com 02475L105   1,270,003 39,077 SH   SOLE 0 39,077 0 0
American Riviera Bancorp Com 02933K103   2,969,914 183,328 SH   SOLE 0 183,328 0 0
Avidbank Holdings Inc Com 05368J103   1,369,220 82,983 SH   SOLE 0 82,983 0 0
Ballston Spa Bancorp Inc Com 058701103   958,664 18,088 SH   SOLE 0 18,088 0 0
Banc of California Inc Com 05990K106   1,524,888 121,699 SH   SOLE 0 121,699 0 0
Bancorp 34 Inc Com 05970V106   1,165,566 107,142 SH   SOLE 0 107,142 0 0
Bankwell Financial Group Inc Com 06654A103   2,743,003 110,338 SH   SOLE 0 110,338 0 0
Banner Corp Com 06652V208   3,315,102 60,973 SH   SOLE 0 60,973 0 0
BAY Community Bancorp Com 072205107   3,808,154 464,409 SH   SOLE 0 464,409 0 0
Blue Ridge Bankshares Inc Com 095825105   2,034,696 199,480 SH   SOLE 0 199,480 0 0
Boyle Bancorp Inc Com 103442109   1,482,078 19,001 SH   SOLE 0 19,001 0 0
Canandaigua National Corp Com 137143103   1,216,005 6,573 SH   SOLE 0 6,573 0 0
Cashmere Valley Bank Com 14756K102   2,906,654 70,894 SH   SOLE 0 70,894 0 0
Cecil Bancorp Inc Com 149841306   569,627 367,501 SH   SOLE 0 367,501 0 0
Central Valley Community Banco Com 155685100   3,034,295 147,439 SH   SOLE 0 147,439 0 0
Citba Financial Corp Com 173024100   1,418,132 61,391 SH   SOLE 0 61,391 0 0
Citizens Bancorp/OR Com 172950107   633,342 57,734 SH   SOLE 0 57,734 0 0
Citizens Financial Group Inc Com 174610105   3,411,492 112,331 SH   SOLE 0 112,331 0 0
CNB Community Bancorp Inc Com 12618F105   2,504,208 61,680 SH   SOLE 0 61,680 0 0
CNB Financial Corp/PA Com 126128107   1,920,000 100,000 SH   SOLE 0 100,000 0 0
Comerica Inc Com 200340107   3,434,893 79,145 SH   SOLE 0 79,145 0 0
Community Financial Corp/The Com 20368X101   2,386,718 72,041 SH   SOLE 0 72,041 0 0
Community Heritage Financial I Com 20370L103   2,334,900 129,000 SH   SOLE 0 129,000 0 0
Community West Bancshares Com 204157101   2,460,008 194,467 SH   SOLE 0 194,467 0 0
Cornerstone Community Bancorp Com 21925R108   3,874,554 143,502 SH   SOLE 0 143,502 0 0
Crystal Valley Financial Corp Com 22941P100   2,638,307 46,820 SH   SOLE 0 46,820 0 0
Dacotah Banks Inc Com 233422104   1,101,482 31,927 SH   SOLE 0 31,927 0 0
Denver Bankshares Inc Com 249082108   409,860 1,980 SH   SOLE 0 1,980 0 0
Embassy Bancorp Inc Com 290791102   2,160,513 127,089 SH   SOLE 0 127,089 0 0
Enterprise Bancorp Inc/MA Com 293668109   4,280,668 136,067 SH   SOLE 0 136,067 0 0
Exchange Bank/Santa Rosa CA Com 301227203   7,129,290 69,895 SH   SOLE 0 69,895 0 0
Farmers & Merchants Bank of Lo Com 308243104   812,600 136 SH   SOLE 0 136 0 0
Farmers and Merchants Bancshar Com 308856103   2,616,694 121,368 SH   SOLE 0 121,368 0 0
Fentura Financial Inc Com 314645102   2,914,021 137,389 SH   SOLE 0 137,389 0 0
First Bankers Trustshares Inc Com 31929F109   407,376 18,860 SH   SOLE 0 18,860 0 0
First Busey Corp Com 319383204   3,116,373 153,214 SH   SOLE 0 153,214 0 0
First Capital Inc Com 31942S104   291,204 11,353 SH   SOLE 0 11,353 0 0
First Citizens BancShares Inc/ Com 31946M103   2,626,397 2,699 SH   SOLE 0 2,699 0 0
First Citizens BancShares Inc/ Com 31946M202   16,855,415 19,759 SH   SOLE 0 19,759 0 0
First Community Bankshares Inc Com 31983A103   547,192 21,844 SH   SOLE 0 21,844 0 0
First Mid Bancshares Inc Com 320866106   3,495,157 128,404 SH   SOLE 0 128,404 0 0
First National Corp/VA Com 32106V107   5,001,383 316,343 SH   SOLE 0 316,343 0 0
First National of Nebraska Inc Com 335720108   9,652,500 715 SH   SOLE 0 715 0 0
First Ottawa Bancshares Inc Com 335876108   2,696,064 28,560 SH   SOLE 0 28,560 0 0
FNB Corp/PA Com 302520101   2,635,520 227,200 SH   SOLE 0 227,200 0 0
Grand River Commerce Inc Com 386441109   862,477 159,718 SH   SOLE 0 159,718 0 0
HBT Financial Inc Com 404111106   2,116,843 107,345 SH   SOLE 0 107,345 0 0
Heartland BancCorp Com 421962101   2,369,716 27,067 SH   SOLE 0 27,067 0 0
Lakeland Bancorp Inc Com 511637100   3,566,546 228,040 SH   SOLE 0 228,040 0 0
Ledyard Financial Group Inc Com 523338101   1,007,942 64,282 SH   SOLE 0 64,282 0 0
Macatawa Bank Corp Com 554225102   4,492,303 439,560 SH   SOLE 0 439,560 0 0
Mechanics Bank/Walnut Creek CA Com 583614102   1,806,860 86 SH   SOLE 0 86 0 0
Merchants Financial Group Inc Com 588538108   5,699,610 209,160 SH   SOLE 0 209,160 0 0
Middlebury National Corp Com 596237107   439,656 15,674 SH   SOLE 0 15,674 0 0
Mission Bancorp/Bakersfield CA Com 605015106   4,691,935 52,418 SH   SOLE 0 52,418 0 0
Mountain Commerce Bancorp Inc Com 624004107   1,938,490 83,197 SH   SOLE 0 83,197 0 0
New York Community Bancorp Inc Com 649445103   2,184,977 241,701 SH   SOLE 0 241,701 0 0
New York Community Bancorp Inc Call 649445103   28,338 472,300 SH   SOLE 0 472,300 0 0
New York Community Bancorp Inc Call 649445103   99,164 190,700 SH   SOLE 0 190,700 0 0
New York Community Bancorp Inc Call 649445103   42,360 70,600 SH   SOLE 0 70,600 0 0
Oak Ridge Financial Services I Com 671768109   633,087 35,930 SH   SOLE 0 35,930 0 0
Oak Valley Bancorp Com 671807105   8,484,310 358,593 SH   SOLE 0 358,593 0 0
Old Second Bancorp Inc Com 680277100   2,290,684 163,038 SH   SOLE 0 163,038 0 0
Oregon Pacific Bancorp Com 686040205   3,941,953 644,110 SH   SOLE 0 644,110 0 0
Oxford Bank Corp/MI Com 69140P100   3,392,546 111,231 SH   SOLE 0 111,231 0 0
Pacific Valley Bancorp Com 69503T103   1,161,415 121,360 SH   SOLE 0 121,360 0 0
Parke Bancorp Inc Com 700885106   2,574,846 144,817 SH   SOLE 0 144,817 0 0
Peapack-Gladstone Financial Co Com 704699107   0 0 SH   SOLE 0 0 0 0
Peoples Bancorp/WA Com 70979X107   1,000,000 5,000 SH   SOLE 0 5,000 0 0
Pinnacle Bank/Gilroy CA Com 72346K107   2,073,670 174,258 SH   SOLE 0 174,258 0 0
Pinnacle Financial Partners In Com 72346Q104   1,608,190 29,155 SH   SOLE 0 29,155 0 0
Plumas Bancorp Com 729273102   7,486,456 219,802 SH   SOLE 0 219,802 0 0
Premier Financial Corp Com 74052F108   2,411,808 116,400 SH   SOLE 0 116,400 0 0
Prime Meridian Holding Co Com 74164R107   3,190,204 147,014 SH   SOLE 0 147,014 0 0
Red River Bancshares Inc Com 75686R202   3,198,305 66,479 SH   SOLE 0 66,479 0 0
Redwood Capital Bancorp Com 75777X100   3,101,509 179,278 SH   SOLE 0 179,278 0 0
Santa Cruz County Bank Com 801827106   5,348,899 221,946 SH   SOLE 0 221,946 0 0
Security National Corp/IA Com 814784104   2,189,278 16,958 SH   SOLE 0 16,958 0 0
Shore Bancshares Inc Com 825107105   393,071 27,526 SH   SOLE 0 27,526 0 0
Solvay Bank Com 83441Q105   2,365,176 76,296 SH   SOLE 0 76,296 0 0
South Atlantic Bancshares Inc Com 83636T104   830,157 66,148 SH   SOLE 0 66,148 0 0
Southeastern Banking Corp Com 84158P108   1,346,625 65,689 SH   SOLE 0 65,689 0 0
Southern BancShares NC Inc Com 842243107   10,497,600 1,944 SH   SOLE 0 1,944 0 0
Southern California Bancorp Com 84252A106   2,992,779 208,556 SH   SOLE 0 208,556 0 0
Southern Missouri Bancorp Inc Com 843380106   2,967,137 79,314 SH   SOLE 0 79,314 0 0
Studio Financial Holdings Inc Com 864001102   980,120 83,061 SH   SOLE 0 83,061 0 0
Summit Bancshares Inc/CA Com 866010101   1,289,002 35,161 SH   SOLE 0 35,161 0 0
Surrey Bancorp Com 86888W105   1,762,693 100,153 SH   SOLE 0 100,153 0 0
Synovus Financial Corp Com 87161C501   3,333,457 108,194 SH   SOLE 0 108,194 0 0
Timberland Bancorp Inc/WA Com 887098101   6,237,486 230,847 SH   SOLE 0 230,847 0 0
Town and Country Financial Cor Com 892039108   0 0 SH   SOLE 0 0 0 0
Traditions Bancorp Inc Com 89269L102   3,056,750 173,679 SH   SOLE 0 173,679 0 0
Tri City Bankshares Corp Com 895364107   1,287,538 92,963 SH   SOLE 0 92,963 0 0
Tri-County Financial Group Inc Com 89546P108   2,619,089 61,917 SH   SOLE 0 61,917 0 0
United BanCorp of Alabama Inc Com 90944R100   3,015,685 77,029 SH   SOLE 0 77,029 0 0
Valley National Bancorp Com 919794107   2,361,190 255,540 SH   SOLE 0 255,540 0 0
Veritex Holdings Inc Com 923451108   2,115,840 116,000 SH   SOLE 0 116,000 0 0
Village Bank and Trust Financi Com 92705T200   18,315 333 SH   SOLE 0 333 0 0
Wayne Savings Bancshares Inc Com 94624Q101   1,272,166 46,685 SH   SOLE 0 46,685 0 0
Woodlands Financial Services C Com 979685104   1,717,651 69,372 SH   SOLE 0 69,372 0 0
WSFS Financial Corp Com 929328102   1,648,033 43,819 SH   SOLE 0 43,819 0 0
WTB Financial Corp Com 929334209   4,493,280 12,210 SH   SOLE 0 12,210 0 0