Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
—	BENEFICIAL MUTUAL BANCORP INC	1,464,527	$12.3M	7.8%	$8.40	$8.40	—	COMMON	08173R104
—	MERIDIAN INTERSTATE BANCORP INC	651,366	$12.27M	7.8%	$18.83	$18.83	—	COMMON	58964Q104
FBIZ	FIRST BUS FINL SVCS INC WIS COM	344,004	$10.31M	6.5%	$29.97 *	$10.24	+7.0%	COMMON	319390100
NFBK	NORTHFIELD BANCORP INC DEL COM	820,474	$9.616M	6.1%	$11.72 *	$7.68	+2.2%	COMMON	66611T108
—	OCEAN SHORE HLDG CO NEW COM	644,292	$8.904M	5.6%	$13.82	$13.82	—	COMMON	67501R103
PLUS	EPLUS INC	135,001	$8.085M	5.1%	$59.89 *	$12.34	+21.3%	COMMON	294268107
NRIM	NORTHRIM BANCORP INC	307,759	$7.445M	4.7%	$24.19 *	$3.58	+9.9%	COMMON	666762109
—	OBA FINANCIAL SERVICES INC	348,386	$6.424M	4.1%	$18.44	$18.44	—	COMMON	67424G101
—	HF FINANCIAL CORP	450,516	$5.861M	3.7%	$13.01	$13.01	—	COMMON	404172108
WLFC	WILLIS LEASE FINANCE CORP	378,938	$5.119M	3.2%	$13.51	$13.54	-0.3%	COMMON	970646105
—	NORTHEAST COMMUNITY BANCORP INC	719,565	$4.548M	2.9%	$6.32	$6.32	—	COMMON	664112109
FMNB	FARMERS NATIONAL BANC CORP	708,050	$4.447M	2.8%	$6.28 *	$4.28	-0.3%	COMMON	309627107
—	HOPFED BANCORP INC	405,783	$4.382M	2.8%	$10.80	$10.80	—	COMMON	439734104
CMA	COMERICA INC	103,000	$4.102M	2.6%	$39.83 *	$24.17	+7.1%	COMMON	200340107
—	TWO RIV BANCORP COM	637,468	$4.042M	2.6%	$6.34	$6.34	—	COMMON	90207C105
—	ROMA FINANCIAL CORP	198,312	$3.601M	2.3%	$18.16	$18.16	—	COMMON	77581P109
—	OLD POINT FINANCIAL CORP	272,040	$3.564M	2.3%	$13.10	$13.10	—	COMMON	680194107
CFNB	CALIFORNIA FIRST NATIONAL BANCORP	206,268	$3.403M	2.2%	$16.50 *	$12.21	0.0%	COMMON	130222102
—	NEWPORT BANCORP INC	195,732	$3.335M	2.1%	$17.04	$17.04	—	COMMON	651754103
FCNCA	FIRST CTZNS BANCSHARES INC N C CL A	17,332	$3.329M	2.1%	$192.07 *	$182.75	+0.2%	COMMON	31946M103
—	TOWER FINANCIAL CORP COM	203,480	$2.979M	1.9%	$14.64	$14.64	—	COMMON	891769101
—	STANDARD FINL CORP MD COM	145,591	$2.774M	1.8%	$19.05	$19.05	—	COMMON	853393106
PGC	PEAPACK GLADSTONE FINANCIAL CORP	149,983	$2.621M	1.7%	$17.48 *	$13.74	+15.0%	COMMON	704699107
—	PRUDENTIAL BANCORP INC OF PENNSYLVANIA	244,678	$2.398M	1.5%	$9.80	$9.80	—	COMMON	744319104
—	BANK MUTUAL CORP	396,581	$2.237M	1.4%	$5.64	$5.64	—	COMMON	063750103
OCFC	OCEANFIRST FINL CORP COM	140,895	$2.191M	1.4%	$15.55 *	$9.16	+9.7%	COMMON	675234108
FRBKQ	REPUBLIC FIRST BANCORP INC COM	766,202	$2.184M	1.4%	$2.85	$2.90	-1.6%	COMMON	760416107
—	FIRST SEC GROUP INC COM NEW	1,000,200	$2.17M	1.4%	$2.17	$2.17	—	COMMON	336312202
—	BANKFINANCIAL CORP	254,943	$2.167M	1.4%	$8.50	$8.50	—	COMMON	06643P104
NWFL	NORWOOD FINANCIAL CORP COM	63,099	$1.83M	1.2%	$29.00 *	$19.52	-1.0%	COMMON	669549107
—	MALVERN BANCORP INC COM	151,514	$1.814M	1.2%	$11.97	$11.97	—	COMMON	561409103
—	FIRST CAPITAL BANCORP VA COM	469,570	$1.597M	1.0%	$3.40	$3.40	—	COMMON	319438107
—	CMS BANCORP INC COM	163,880	$1.491M	0.9%	$9.10	$9.10	—	COMMON	12600U102
—	BERKSHIRE BANCORP INC DEL COM NEW	170,128	$1.353M	0.9%	$7.95	$7.95	—	COMMON	084597202
—	OLD LINE BANCSHARES INC	60,500	$798K	0.5%	$13.19	$13.19	—	COMMON	67984M100
ACNB	ACNB CORP COM	21,559	$360K	0.2%	$16.70 *	$10.87	+1.4%	COMMON	000868109
—	CU BANCORP CALIF COM	22,689	$358K	0.2%	$15.78	$15.78	—	COMMON	126534106
—	WASHINGTONFIRST BANKSHARES INC COM	28,817	$326K	0.2%	$11.31	$11.31	—	COMMON	940730104
—	UNITED CMNTY BANCORP IND COM	31,433	$322K	0.2%	$10.24	$10.24	—	COMMON	90984R101
CIZN	CITIZENS HLDG CO MISS COM	13,391	$264K	0.2%	$19.71 *	$10.53	0.0%	COMMON	174715102
CHMG	CHEMUNG FINL CORP COM	6,196	$208K	0.1%	$33.57 *	$22.91	+1.0%	COMMON	164024101
—	EASTERN VA BANKSHARES INC COM	23,145	$116K	0.1%	$5.01	$5.01	—	COMMON	277196101
—	MAGYAR BANCORP INC COM	13,645	$75,000	0.0%	$5.50	$5.50	—	COMMON	55977T109