Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
TFSL	TFS FINL CORP	1,357,425	$15.2M	7.2%	$11.20 *	$5.61	0.0%	COM	87240R107
—	YADKIN FINL CORP	690,032	$9.688M	4.6%	$14.04	$14.04	—	COM	984305102
BAC	BANK OF AMERICA CORPORATION	718,100	$9.235M	4.4%	$12.86 *	$10.03	0.0%	COM	060505104
FITB	FIFTH THIRD BANCORP	465,200	$8.397M	4.0%	$18.05 *	$11.47	0.0%	COM	316773100
—	FIRSTMERIT CORP	365,890	$7.329M	3.5%	$20.03	$20.03	—	COM	337915102
HAFC	HANMI FINL CORP	413,883	$7.313M	3.5%	$17.67 *	$15.99	0.0%	COM NEW	410495204
COF	CAPITAL ONE FINL CORP	113,100	$7.104M	3.4%	$62.81 *	$47.00	0.0%	COM	14040H105
OFG	OFG BANCORP	374,300	$6.779M	3.2%	$18.11 *	$16.55	0.0%	COM	67103X102
WFC	WELLS FARGO & CO NEW	161,100	$6.649M	3.2%	$41.27 *	$27.36	0.0%	COM	949746101
C	CITIGROUP INC	128,900	$6.183M	2.9%	$47.97 *	$35.76	0.0%	COM NEW	172967424
—	FIDELITY SOUTHERN CORP NEW	494,725	$6.12M	2.9%	$12.37	$12.37	—	COM	316394105
PFBC	PREFERRED BK LOS ANGELES CA	371,115	$6.116M	2.9%	$16.48 *	$16.08	0.0%	COM NEW	740367404
—	ELLINGTON FINANCIAL LLC	251,200	$5.73M	2.7%	$22.81	$22.81	—	COM	288522303
—	SYNOVUS FINL CORP	1,855,318	$5.418M	2.6%	$2.92	$2.92	—	COM	87161C105
—	M & T BK CORP	138,500	$5.263M	2.5%	$38.00	$38.00	—	*W EXP12/2018	55261F112
—	SUFFOLK BANCORP	312,059	$5.099M	2.4%	$16.34	$16.34	—	COM	864739107
RF	REGIONS FINL CORP NEW	496,300	$4.73M	2.3%	$9.53 *	$5.80	0.0%	COM	7591EP100
—	BNC BANCORP	365,745	$4.177M	2.0%	$11.42	$11.42	—	COM	05566T101
—	ANCHOR BANCORP WA	245,431	$4.116M	2.0%	$16.77	$16.77	—	COM	32838104
—	CHARTER FINL CORP MD	362,345	$3.652M	1.7%	$10.08	$10.08	—	COM	16122W108
—	FIRST NBC BK HLDG CO	146,861	$3.583M	1.7%	$24.40	$24.40	—	COM	32115D106
JPM	JPMORGAN CHASE & CO	63,900	$3.373M	1.6%	$52.79 *	$36.24	0.0%	COM	46625H100
—	TOWER FINANCIAL CORP	229,613	$3.362M	1.6%	$14.64	$14.64	—	COM	891769101
—	AMERICAN CAPITAL AGENCY CORP	144,400	$3.323M	1.6%	$23.01	$23.01	—	COM	02503X105
—	FIRST MIDWEST BANCORP DEL	236,700	$3.248M	1.5%	$13.72	$13.72	—	COM	320867104
—	MERIDIAN INTERSTAT BANCORP I	165,245	$3.112M	1.5%	$18.83	$18.83	—	COM	58964Q104
—	BSB BANCORP INC MD	236,006	$3.103M	1.5%	$13.15	$13.15	—	COM	05573H108
—	SOUTHWEST BANCORP INC OKLA	226,452	$2.989M	1.4%	$13.20	$13.20	—	COM	844767103
—	STERLING BANCORP	256,000	$2.975M	1.4%	$11.62	$11.62	—	COM	859158107
FCBC	FIRST CMNTY BANCSHARES INC N	187,100	$2.934M	1.4%	$15.68 *	$9.18	0.0%	COM	31983A103
—	WILSHIRE BANCORP INC	442,200	$2.927M	1.4%	$6.62	$6.62	—	COM	97186T108
BMRC	BANK OF MARIN BANCORP	66,758	$2.67M	1.3%	$40.00 *	$13.79	0.0%	COM	063425102
—	FIRST FINL HLDGS INC	124,500	$2.641M	1.3%	$21.21	$21.21	—	COM	320239106
—	FIRST BANCSHARES INC MS	200,000	$2.58M	1.2%	$12.90	$12.90	—	COM	318916103
—	BBCN BANCORP INC	169,804	$2.415M	1.2%	$14.22	$14.22	—	COM	073295107
HFWA	HERITAGE FINL CORP WASH	163,274	$2.392M	1.1%	$14.65 *	$13.97	0.0%	COM	42722X106
FFBC	FIRST FINL BANCORP OH	153,286	$2.284M	1.1%	$14.90 *	$9.47	0.0%	COM	320209109
WTFC	WINTRUST FINANCIAL CORP	55,922	$2.141M	1.0%	$38.29 *	$36.77	0.0%	COM	97650W108
—	COMMUNITY WEST BANCSHARES	427,282	$2.017M	1.0%	$4.72	$4.72	—	COM	204157101
—	PACIFIC PREMIER BANCORP	152,300	$1.861M	0.9%	$12.22	$12.22	—	COM	69478X105
EFSC	ENTERPRISE FINL SVCS CORP	107,100	$1.709M	0.8%	$15.96 *	$12.10	0.0%	COM	293712105
—	CU BANCORP CALIF	101,939	$1.611M	0.8%	$15.80	$15.80	—	COM	126534106
—	TWO HBRS INVT CORP	150,000	$1.538M	0.7%	$10.25	$10.25	—	COM	90187B101
—	PACIFIC CONTINENTAL CORP	124,500	$1.469M	0.7%	$11.80	$11.80	—	COM	69412V108
WBS	WEBSTER FINL CORP CONN	56,000	$1.438M	0.7%	$25.68 *	$23.57	0.0%	COM	947890109
—	FIRST SEC GROUP INC	581,825	$1.263M	0.6%	$2.17	$2.17	—	COM NEW	336312202
—	CYS INVTS INC	134,400	$1.238M	0.6%	$9.21	$9.21	—	COM	12673A108
—	CAROLINA BK HLDGS INC GREENS	88,272	$1.08M	0.5%	$12.23	$12.23	—	COM	143785103
RVSB	RIVERVIEW BANCORP INC	428,870	$1.076M	0.5%	$2.51 *	$1.91	0.0%	COM	769397100
—	NORTH VALLEY BANCORP	61,369	$1.016M	0.5%	$16.56	$16.56	—	COM NEW	66304M204
—	BANK COMM HLDGS	192,489	$970K	0.5%	$5.04	$5.04	—	COM	06424J103
—	EVANS BANCORP INC	54,844	$963K	0.5%	$17.56	$17.56	—	COM NEW	29911Q208
RNST	RENASANT CORP	27,800	$677K	0.3%	$24.35 *	$23.18	0.0%	COM	75970E107
UCB	UNITED CMNTY BKS BLAIRSVLE G	52,864	$657K	0.3%	$12.43 *	$11.35	0.0%	COM	90984P303
—	AMERICAN CAP MTG INVT CORP	34,900	$627K	0.3%	$17.97	$17.97	—	COM	02504A104
—	COMMUNITY BANKERS TR CORP	162,600	$589K	0.3%	$3.62	$3.62	—	COM	203612106
CBSH	COMMERCE BANCSHARES INC	13,401	$584K	0.3%	$43.58 *	$21.46	0.0%	COM	200525103
—	OLD POINT FINL CORP	37,300	$489K	0.2%	$13.11	$13.11	—	COM	680194107
SFNC	SIMMONS 1ST NATL CORP	10,100	$264K	0.1%	$26.14 *	$12.60	0.0%	CL A $1PAR	828730200
—	BANCORPSOUTH INC	10,300	$182K	0.1%	$17.67	$17.67	—	COM	059692103
—	MALVERN BANCORP INC	10,850	$130K	0.1%	$11.98	$11.98	—	COM	561409103