Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
—	State Bank Financial Corporation	2,115,000	$35.77M	4.7%	$16.91	—	—	COM	856190103
—	United Community Financial Corp.	4,365,000	$18.03M	2.3%	$4.13	—	—	COM	909839102
—	First Midwest Bancorp, Inc.	1,038,000	$17.68M	2.3%	$17.03	—	—	COM	320867104
—	First NBC Bank Holding Company	492,300	$16.5M	2.1%	$33.51	—	—	COM	32115D106
HTH	Hilltop Holdings Inc.	700,000	$14.88M	1.9%	$21.26	—	—	COM	432748101
MS	Morgan Stanley	443,100	$14.32M	1.9%	$32.33	—	—	COM	617446448
—	Southwest Bancorp, Inc.	780,500	$13.31M	1.7%	$17.06	—	—	COM	844767103
AMH	American Homes 4 Rent	743,000	$13.2M	1.7%	$17.76	—	—	CL A	02665T306
OSG	Ambac Financial Group, Inc.	450,300	$12.3M	1.6%	$27.31	—	—	COM	023139884
—	Investors Bancorp, Inc.	1,069,250	$11.81M	1.5%	$11.05	—	—	COM	46146L101
IBCP	Independent Bank Corporation	905,800	$11.66M	1.5%	$12.87	—	—	COM	453838609
—	Territorial Bancorp Inc.	545,000	$11.38M	1.5%	$20.88	—	—	COM	88145X108
—	Century Bancorp, Inc.	321,700	$11.37M	1.5%	$35.34	—	—	CL A NON VTG	156432106
—	City National Corporation	145,000	$10.98M	1.4%	$75.76	—	—	COM	178566105
—	Palmetto Bancshares, Inc.	732,095	$10.54M	1.4%	$14.39	—	—	COM	697062206
JPM	JPMorgan Chase & Co.	165,000	$9.507M	1.2%	$57.62	—	—	COM	46625H100
—	HF Financial Corp.	655,900	$9.11M	1.2%	$13.89	—	—	COM	404172108
—	Hudson City Bancorp, Inc.	911,656	$8.962M	1.2%	$9.83	—	—	COM	443683107
FCNCA	First Citizens BancShares, Inc.	35,900	$8.796M	1.1%	$245.01	—	—	CL A	31946M103
FFBC	First Financial Bancorp.	503,100	$8.658M	1.1%	$17.21	—	—	COM	320209109
—	CoBiz Financial Inc.	795,100	$8.563M	1.1%	$10.77	—	—	COM	190897108
HTBK	Heritage Commerce Corp	1,038,900	$8.488M	1.1%	$8.17	—	—	COM	426927109
—	Call - MTB $73.86 Exp 12/23/2018	159,200	$7.989M	1.0%	$50.18	—	—	Warrant	55261F112
—	Chemical Financial Corporation	284,200	$7.98M	1.0%	$28.08	—	—	COM	163731102
BKU	BankUnited, Inc.	236,800	$7.928M	1.0%	$33.48	—	—	COM	06652K103
—	HopFed Bancorp, Inc.	679,503	$7.896M	1.0%	$11.62	—	—	COM	439734104
SMBC	Southern Missouri Bancorp, Inc.	220,205	$7.859M	1.0%	$35.69	—	—	COM	843380106
—	Fox Chase Bancorp, Inc.	463,021	$7.807M	1.0%	$16.86	—	—	COM	35137T108
CMA	Comerica Incorporated	152,100	$7.629M	1.0%	$50.16	—	—	COM	200340107
—	Boston Private Financial Holdings, Inc.	560,700	$7.536M	1.0%	$13.44	—	—	COM	101119105
IVZ	Invesco Ltd.	199,400	$7.527M	1.0%	$37.75	—	—	SHS	G491BT108
WSBF	Waterstone Financial Inc.	650,000	$7.417M	1.0%	$11.41	—	—	COM	94188P101
STT	State Street Corporation	110,000	$7.399M	1.0%	$67.26	—	—	COM	857477103
—	Guaranty Bancorp	520,000	$7.228M	0.9%	$13.90	—	—	COM	40075T607
NBHC	National Bank Holdings Corporation	352,000	$7.019M	0.9%	$19.94	—	—	CL A	633707104
—	1st Century Bancshares, Inc.	899,900	$6.821M	0.9%	$7.58	—	—	COM	31943X102
—	Malvern Bancorp, Inc.	640,675	$6.746M	0.9%	$10.53	—	—	COM	561409103
WSFS	WSFS Financial Corporation	90,500	$6.667M	0.9%	$73.67	—	—	COM	929328102
IROQ	IF Bancorp, Inc.	385,600	$6.359M	0.8%	$16.49	—	—	COM	44951J105
—	American River Bankshares	694,000	$6.066M	0.8%	$8.74	—	—	COM	029326105
SBCF	Seacoast Banking Corporation of Florida	538,800	$5.857M	0.8%	$10.87	—	—	COM	811707801
—	SI Financial Group, Inc.	508,898	$5.857M	0.8%	$11.51	—	—	COM	78425V104
BANF	BancFirst Corporation	93,500	$5.788M	0.8%	$61.90	—	—	COM	05945F103
—	Evans Bancorp, Inc.	246,900	$5.716M	0.7%	$23.15	—	—	COM	29911Q208
—	Call - ZION $36.27 Exp 11/14/2018	1,768,160	$5.658M	0.7%	$3.20	—	—	Warrant	989701131
OSBC	Old Second Bancorp, Inc.	1,125,000	$5.591M	0.7%	$4.97	—	—	COM	680277100
—	Prudential Bancorp, Inc.	482,800	$5.557M	0.7%	$11.51	—	—	COM	74431A101
—	Coastway Bancorp, Inc.	486,000	$5.317M	0.7%	$10.94	—	—	COM	190632109
BMRC	Bank of Marin Bancorp	116,600	$5.316M	0.7%	$45.59	—	—	COM	063425102
NMIH	NMI Holdings	487,000	$5.114M	0.7%	$10.50	—	—	CL A	629209305
OFG	OFG Bancorp	275,000	$5.063M	0.7%	$18.41	—	—	COM	67103X102
—	MainSource Financial Group, Inc.	288,500	$4.977M	0.6%	$17.25	—	—	COM	56062Y102
—	Lazard Ltd	95,000	$4.898M	0.6%	$51.56	—	—	SHS A	G54050102
—	Bridge Bancorp, Inc.	199,000	$4.774M	0.6%	$23.99	—	—	COM	108035106
—	Xenith Bankshares, Inc.	750,600	$4.751M	0.6%	$6.33	—	—	COM	98410X105
C	Citigroup Inc.	99,700	$4.696M	0.6%	$47.10	—	—	COM	172967424
NRIM	Northrim BanCorp, Inc.	180,000	$4.603M	0.6%	$25.57	—	—	COM	666762109
—	CenterState Banks, Inc.	409,600	$4.588M	0.6%	$11.20	—	—	COM	15201P109
—	Laporte Bancorp Inc.	416,100	$4.577M	0.6%	$11.00	—	—	COM	516651106
SAMG	Silvercrest Asset Management Group Inc.	260,000	$4.475M	0.6%	$17.21	—	—	CL A	828359109
SHBI	Shore Bancshares, Inc.	493,000	$4.442M	0.6%	$9.01	—	—	COM	825107105
—	Sun Bancorp, Inc.	1,101,416	$4.417M	0.6%	$4.01	—	—	COM	86663B102
—	Stonegate Mortgage Corp	316,010	$4.408M	0.6%	$13.95	—	—	COM	86181Q300
LKFN	Lakeland Financial Corporation	113,900	$4.346M	0.6%	$38.16	—	—	COM	511656100
NBTB	NBT Bancorp Inc.	180,300	$4.331M	0.6%	$24.02	—	—	COM	628778102
FCCO	First Community Corporation	404,800	$4.311M	0.6%	$10.65	—	—	COM	319835104
—	Hamilton Bancorp Inc.	330,000	$4.274M	0.6%	$12.95	—	—	COM	407015106
—	Peoples Federal Bancshares, Inc.	225,600	$4.165M	0.5%	$18.46	—	—	COM	711037101
—	FirstMerit Corporation	209,700	$4.142M	0.5%	$19.75	—	—	COM	337915102
WTFC	Wintrust Financial Corporation	90,000	$4.14M	0.5%	$46.00	—	—	COM	97650W108
UCB	United Community Banks, Inc.	251,300	$4.114M	0.5%	$16.37	—	—	COM	90984P303
MOFG	MidWestOne Financial Group, Inc.	165,000	$3.958M	0.5%	$23.99	—	—	COM	598511103
—	Chicopee Bancorp, Inc.	232,000	$3.944M	0.5%	$17.00	—	—	COM	168565109
KEY	KeyCorp	275,000	$3.941M	0.5%	$14.33	—	—	COM	493267108
—	1st United Bancorp, Inc.	450,000	$3.879M	0.5%	$8.62	—	—	COM	33740N105
—	United Community Bancorp	329,100	$3.87M	0.5%	$11.76	—	—	COM	90984R101
—	Standard Financial Corp.	196,500	$3.83M	0.5%	$19.49	—	—	COM	853393106
—	Bridge Capital Holdings	157,500	$3.813M	0.5%	$24.21	—	—	COM	108030107
PFBC	Preferred Bank	160,000	$3.782M	0.5%	$23.64	—	—	COM	740367404
SFNC	Simmons First National Corporation	96,000	$3.781M	0.5%	$39.39	—	—	CL A	828730200
RF	Regions Financial Corporation	350,000	$3.717M	0.5%	$10.62	—	—	COM	7591EP100
—	Wolverine Bancorp, Inc.	160,200	$3.637M	0.5%	$22.70	—	—	COM	977880103
AIG	American International Group, Inc.	65,000	$3.548M	0.5%	$54.58	—	—	COM	026874784
—	Heritage Oaks Bancorp	464,600	$3.545M	0.5%	$7.63	—	—	COM	42724R107
—	Wilshire Bancorp, Inc.	340,000	$3.492M	0.5%	$10.27	—	—	COM	97186T108
—	Polonia Bancorp, Inc.	337,000	$3.478M	0.5%	$10.32	—	—	COM	73158Q109
USB	U.S. Bancorp	80,000	$3.466M	0.5%	$43.33	—	—	COM	902973304
BSRR	Sierra Bancorp	217,700	$3.44M	0.4%	$15.80	—	—	COM	82620P102
—	First Busey Corporation	590,000	$3.428M	0.4%	$5.81	—	—	COM	319383105
RVSB	Riverview Bancorp, Inc.	875,000	$3.395M	0.4%	$3.88	—	—	COM	769397100
—	First Citizens Banc Corp, Inc. Series B Conv. Pfd.	109,700	$3.291M	0.4%	$30.00	—	—	6.50% PFD SER B	319459400
—	Jacksonville Bancorp, Inc.	312,707	$3.283M	0.4%	$10.50	—	—	COM	469249205
—	Poage Bankshares, Inc.	220,000	$3.245M	0.4%	$14.75	—	—	COM	730206109
—	Alliance Bancorp, Inc. of Pennsylvania	196,100	$3.185M	0.4%	$16.24	—	—	COM	01890A108
WD	Walker & Dunlop, Inc.	225,000	$3.175M	0.4%	$14.11	—	—	COM	93148P102
—	State Investors Bancorp, Inc.	198,400	$3.174M	0.4%	$16.00	—	—	COM	857030100
CZNC	Citizens & Northern Corporation	155,800	$3.037M	0.4%	$19.49	—	—	COM	172922106
HIFS	Hingham Institution for Savings	37,200	$2.954M	0.4%	$79.41	—	—	COM	433323102
—	Louisiana Bancorp, Inc.	145,300	$2.883M	0.4%	$19.84	—	—	COM	54619P104
WAFD	Washington Federal, Inc.	125,000	$2.804M	0.4%	$22.43	—	—	COM	938824109
—	Bay Banks of Virginia, Inc.	476,200	$2.762M	0.4%	$5.80	—	—	COM	072035108
—	Sterling Bancorp	225,000	$2.7M	0.4%	$12.00	—	—	COM	85917A100
MBWM	Mercantile Bank Corporation	115,000	$2.631M	0.3%	$22.88	—	—	COM	587376104
—	ASB Bancorp, Inc.	124,000	$2.6M	0.3%	$20.97	—	—	COM	00213T109
—	Bank Mutual Corporation	435,000	$2.523M	0.3%	$5.80	—	—	COM	063750103
—	Susquehanna Bancshares, Inc.	238,300	$2.516M	0.3%	$10.56	—	—	COM	869099101
—	West End Indiana Bancshares, Inc.	130,500	$2.506M	0.3%	$19.20	—	—	COM	952678100
HTB	HomeTrust Bancshares, Inc.	151,200	$2.384M	0.3%	$15.77	—	—	COM	437872104
—	Astoria Financial Corporation	175,000	$2.354M	0.3%	$13.45	—	—	COM	046265104
—	MB Financial, Inc.	86,200	$2.332M	0.3%	$27.05	—	—	COM	55264U108
—	Colonial Financial Services, Inc.	184,300	$2.33M	0.3%	$12.64	—	—	COM	19566B101
WLFC	Willis Lease Finance Corporation	90,000	$2.207M	0.3%	$24.52	—	—	COM	970646105
—	Stonegate Bank	86,000	$2.167M	0.3%	$25.20	—	—	COM	861811107
—	AJS Bancorp, Inc.	170,000	$2.074M	0.3%	$12.20	—	—	COM	001503101
ZION	Zions Bancorporation	70,000	$2.063M	0.3%	$29.47	—	—	COM	989701107
WTBA	West Bancorporation, Inc.	135,000	$2.056M	0.3%	$15.23	—	—	CAP STK	95123P106
—	Old Line Bancshares, Inc.	130,000	$2.049M	0.3%	$15.76	—	—	COM	67984M100
—	Access National Corporation	135,000	$2.047M	0.3%	$15.16	—	—	COM	004337101
—	DCB Financial Corp	270,000	$2.025M	0.3%	$7.50	—	—	COM	233075100
—	Fraternity Community Bancorp, Inc.	134,700	$2.023M	0.3%	$15.02	—	—	COM	35553P101
—	Georgetown Bancorp, Inc.	123,487	$1.989M	0.3%	$16.11	—	—	COM	372591107
DHI	D.R. Horton, Inc.	80,000	$1.966M	0.3%	$24.57	—	—	COM	23331A109
—	National Penn Bancshares, Inc.	184,800	$1.955M	0.3%	$10.58	—	—	COM	637138108
HFBL	Home Federal Bancorp, Inc. of Louisiana	100,000	$1.9M	0.2%	$19.00	—	—	COM	43708L108
FBIZ	First Business Financial Services, Inc.	40,000	$1.881M	0.2%	$47.02	—	—	COM	319390100
—	Capital Bank Financial Corporation	77,100	$1.82M	0.2%	$23.61	—	—	CL A COM	139794101
—	Heartland Financial USA, Inc.	72,500	$1.793M	0.2%	$24.73	—	—	COM	42234Q102
—	Call - AMBC $16.67 Exp 4/30/2023	100,000	$1.678M	0.2%	$16.78	—	—	Warrant	023139116
—	ESSA Bancorp, Inc.	150,000	$1.67M	0.2%	$11.13	—	—	COM	29667D104
HAFC	Hanmi Financial Corporation	78,700	$1.659M	0.2%	$21.08	—	—	COM	410495204
—	Sandy Spring Bancorp, Inc.	66,000	$1.644M	0.2%	$24.91	—	—	COM	800363103
—	Suffolk Bancorp	67,400	$1.504M	0.2%	$22.31	—	—	COM	864739107
—	Premier Financial Bancorp, Inc.	90,400	$1.454M	0.2%	$16.08	—	—	COM	74050M105
—	Call - STI $33.70 Exp 12/31/2018	130,960	$1.38M	0.2%	$10.54	—	—	Warrant	867914129
—	North Valley Bancorp	60,500	$1.318M	0.2%	$21.79	—	—	COM	66304M204
CCNE	CNB Financial Corporation	77,000	$1.294M	0.2%	$16.81	—	—	COM	126128107
—	Jacksonville Bancorp, Inc. (IL)	60,000	$1.268M	0.2%	$21.13	—	—	COM	46924R106
—	Flagstar Bancorp, Inc.	70,000	$1.267M	0.2%	$18.10	—	—	COM	337930705
—	Metro Bancorp Inc.	54,100	$1.251M	0.2%	$23.12	—	—	COM	59161R101
PFS	Provident Financial Services, Inc.	70,000	$1.212M	0.2%	$17.31	—	—	COM	74386T105
—	Sunshine Financial Inc.	65,400	$1.21M	0.2%	$18.50	—	—	COM	86782T109
FISI	Financial Institutions, Inc.	50,000	$1.171M	0.2%	$23.42	—	—	COM	317585404
—	Eureka Financial Corporation	59,000	$1.08M	0.1%	$18.31	—	—	COM	29855C108
BEN	Franklin Resources, Inc.	18,600	$1.076M	0.1%	$57.85	—	—	COM	354613101
—	Call - JPM $42.42 Exp 10/28/2018	54,800	$1.059M	0.1%	$19.32	—	—	Warrant	46634E114
—	Opus Bank	35,307	$1.026M	0.1%	$29.06	—	—	COM	684000102
MC	Moelis & Company	30,000	$1.008M	0.1%	$33.60	—	—	CL A	60786M105
PEBK	Peoples Bancorp of North Carolina	61,900	$990K	0.1%	$15.99	—	—	COM	710577107
—	DNB Financial Corporation	41,900	$890K	0.1%	$21.24	—	—	COM	233237106
EWBC	East West Bancorp, Inc.	22,900	$801K	0.1%	$34.98	—	—	COM	27579R104
—	Carroll Bancorp, Inc.	47,169	$760K	0.1%	$16.11	—	—	COM	144702107
CZWI	Citizens Community Bancorp Inc.	86,100	$732K	0.1%	$8.50	—	—	COM	174903104
—	Meetinghouse Bancorp, Inc.	58,100	$697K	0.1%	$12.00	—	—	COM	58514H109
IBOC	International Bancshares Corporation	25,000	$675K	0.1%	$27.00	—	—	COM	459044103
OVLY	Oak Valley Bancorp.	65,000	$645K	0.1%	$9.92	—	—	COM	671807105
—	Fairmount Bancorp Inc.	29,156	$641K	0.1%	$21.99	—	—	COM	305468100
—	Clifton Bancorp, Inc.	49,600	$628K	0.1%	$12.66	—	—	COM	186873105
EVR	Evercore Partners Inc.	10,000	$576K	0.1%	$57.60	—	—	Class A	29977A105
—	Synovus Financial Corp.	23,500	$573K	0.1%	$24.38	—	—	COM	87161C105
—	Bank of Commerce Holdings	80,000	$506K	0.1%	$6.33	—	—	COM	06424J103
—	Pathfinder Bancorp, Inc.	34,900	$506K	0.1%	$14.50	—	—	COM	70320A103
—	Southcoast Financial Corporation	56,600	$411K	0.1%	$7.26	—	—	COM	84129R100
UBFO	United Security Bancshares	66,652	$371K	0.0%	$5.57	—	—	COM	911460103
—	HMN Financial, Inc.	31,500	$347K	0.0%	$11.02	—	—	COM	40424G108
—	Sunnyside Bancorp, Inc.	35,000	$329K	0.0%	$9.40	—	—	COM	867475105
PROV	Provident Financial Holdings, Inc.	22,300	$324K	0.0%	$14.53	—	—	COM	743868101
—	Sugar Creek Financial Corporation	32,600	$300K	0.0%	$9.20	—	—	COM	86481Y102
—	Triangle Capital Corporation	10,000	$284K	0.0%	$28.40	—	—	COM	895848109
FRME	First Merchants Corporation	11,900	$252K	0.0%	$21.18	—	—	COM	320817109
SLRC	Solar Capital Ltd.	10,000	$213K	0.0%	$21.30	—	—	COM	83413U100
—	First South Bancorp, Inc.	20,000	$160K	0.0%	$8.00	—	—	COM	33646W100
—	Community Bankers Trust Corporation	32,100	$141K	0.0%	$4.39	—	—	COM	203612106
—	Blackrock Kelso Capital Corporation	10,000	$91,000	0.0%	$9.10	—	—	COM	092533108
—	Call - FFBC $12.90 Exp 12/23/2018	13,984	$77,000	0.0%	$5.51	—	—	Warrant	320209117
—	First Capital Bancorp, Inc.	16,100	$72,000	0.0%	$4.47	—	—	COM	319438107