Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	FIRST FINL HLDGS INC NEW	692,970	$38.22M	5.2%	$55.16	—	COM	32023E105
UMBF	UMB FINL CORP	666,982	$36.24M	4.9%	$52.03	+12.1%	COM	902788108
—	SANDY SPRING BANCORP INC	1,445,103	$33.58M	4.5%	$21.76	—	COM	800363103
BKU	BANKUNITED INC	1,074,834	$33.52M	4.5%	$20.68	0.0%	COM	06652K103
ONB	OLD NATL BANCORP IND	2,356,559	$33.46M	4.5%	$13.21	+6.8%	COM	680033107
—	BANCORPSOUTH INC	1,675,063	$33.4M	4.5%	$17.70	—	COM	059692103
CMA	COMERICA INC	835,710	$32.85M	4.4%	$24.32	+11.0%	COM	200340107
COLB	COLUMBIA BKG SYS INC	1,303,015	$32.18M	4.4%	$12.82	+13.8%	COM	197236102
RF	REGIONS FINL CORP NEW	3,385,319	$31.35M	4.2%	$5.80	+12.8%	COM	7591EP100
—	CARDINAL FINL CORP	1,769,555	$29.25M	4.0%	$14.82	—	COM	14149F109
—	IBERIABANK CORP	554,458	$28.78M	3.9%	$53.18	—	COM	450828108
—	SUNTRUST BKS INC	862,097	$27.95M	3.8%	$31.57	—	COM	867914103
BANR	BANNER CORP	728,544	$27.8M	3.8%	$21.83	+12.5%	COM NEW	06652V208
EGBN	EAGLE BANCORP INC MD	945,077	$26.74M	3.6%	$16.63	+20.9%	COM	268948106
HWC	HANCOCK HLDG CO	821,801	$25.79M	3.5%	$28.58	+13.3%	COM	410120109
—	STERLING FINL CORP WASH	879,317	$25.19M	3.4%	$23.78	—	COM NEW	859319303
—	STELLARONE CORP	1,001,655	$22.54M	3.0%	$19.65	—	COM	85856G100
HOMB	HOME BANCSHARES INC	633,007	$19.23M	2.6%	$10.41	+32.1%	COM	436893200
—	CENTERSTATE BANKS INC	1,950,943	$18.89M	2.6%	$8.70	—	COM	15201P109
GBCI	GLACIER BANCORP INC NEW	737,347	$18.2M	2.5%	$12.75	+25.3%	COM	37637Q105
—	WASHINGTON BKG CO OAK HBR WA	1,218,303	$17.13M	2.3%	$14.18	—	COM	937303105
HFWA	HERITAGE FINL CORP WASH	1,068,761	$16.59M	2.2%	$13.97	+12.3%	COM	42722X106
—	1ST UNITED BANCORP INC FLA	2,020,469	$14.81M	2.0%	$6.66	—	COM	33740N105
BANF	BANCFIRST CORP	268,660	$14.53M	2.0%	$16.45	+22.9%	COM	05945F103
—	FIRST CONN BANCORP INC MD	923,484	$13.57M	1.8%	$13.92	—	COM	319850103
—	TRISTATE CAP HLDGS INC	978,897	$12.62M	1.7%	$13.48	—	COM	89678F100
—	FIDELITY SOUTHERN CORP NEW	667,390	$10.24M	1.4%	$12.82	—	COM	316394105
—	FIRST SEC GROUP INC	4,293,537	$8.931M	1.2%	$2.17	—	COM NEW	336312202
—	PINNACLE FINL PARTNERS INC	255,157	$7.606M	1.0%	$25.71	—	COM	72346Q104
—	MIDSOUTH BANCORP INC	407,205	$6.312M	0.9%	$15.53	—	COM	598039105
—	TRONOX LTD	224,965	$5.505M	0.7%	$20.35	—	SHS CL A	Q9235V101
SU	SUNCOR ENERGY INC NEW	149,838	$5.361M	0.7%	$20.09	+8.6%	COM	867224107
—	MACQUARIE INFRASTR CO LLC	76,488	$4.095M	0.6%	$53.48	—	MEMBERSHIP INT	55608B105
—	PINNACLE FOODS INC DEL	134,619	$3.563M	0.5%	$24.63	—	COM	72348P104
—	SUSSER PETE PARTNERS LP	101,176	$3.047M	0.4%	$29.36	—	COM U REP LP	869239103
—	THE ADT CORPORATION	45,657	$1.856M	0.3%	$40.17	—	COM	00101J106
JNJ	JOHNSON & JOHNSON	20,850	$1.807M	0.2%	$59.66	+6.5%	COM	478160104
PG	PROCTER & GAMBLE CO	23,565	$1.781M	0.2%	$55.00	+2.2%	COM	742718109
—	GENCORP INC	98,798	$1.584M	0.2%	$16.03	—	COM	368682100
WM	WASTE MGMT INC DEL	38,030	$1.568M	0.2%	$30.75	+4.1%	COM	94106L109
—	ROSE ROCK MIDSTREAM L P	43,381	$1.386M	0.2%	$36.63	—	COM U REP LTD	777149105
UPS	UNITED PARCEL SERVICE INC	14,092	$1.288M	0.2%	$55.38	+3.1%	CL B	911312106
—	MARKET VECTORS ETF TR	50,000	$1.251M	0.2%	$24.52	—	GOLD MINER ETF	57060U100
GIS	GENERAL MLS INC	25,844	$1.238M	0.2%	$31.98	+2.9%	COM	370334104
—	PLUM CREEK TIMBER CO INC	26,047	$1.22M	0.2%	$46.68	—	COM	729251108
—	POWERSHARES ETF TRUST	55,000	$950K	0.1%	$16.35	—	INTL DIV ACHV	73935X716
—	MCDERMOTT INTL INC	114,970	$854K	0.1%	$8.03	—	COM	580037109
DVY	ISHARES	12,500	$829K	0.1%	$64.00	—	SELECT DIVID ETF	464287168
—	UNITED CMNTY BANCORP IND	74,167	$749K	0.1%	$10.23	—	COM	90984R101
EFA	ISHARES	9,000	$574K	0.1%	$57.33	—	MSCI EAFE ETF	464287465
—	TORTOISE MLP FD INC	12,000	$325K	0.0%	$29.25	—	COM	89148B101
—	FIDELITY NATIONAL FINANCIAL	10,890	$290K	0.0%	$23.78	—	CL A	31620R105
RYN	RAYONIER INC	4,220	$235K	0.0%	$55.45	—	COM	754907103
—	VANGUARD WORLD FDS	2,400	$194K	0.0%	$80.83	—	INF TECH ETF	92204a702