Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MBWM	Mercantile Bank Corporation	1,243,792	$41.51M	2.5%	$12.42	+112.7%	Common	587376104
—	TriState Capital Holdings, Inc.	1,306,582	$36.06M	2.1%	$11.11	—	Common	89678F100
PGC	Peapack-Gladstone Financial Corporation	1,127,747	$34.84M	2.1%	$17.03	+85.4%	Common	704699107
—	Sandy Spring Bancorp Inc.	830,388	$32.64M	1.9%	$26.89	—	Common	800363103
OSBC	Old Second Bancorp, Inc.	1,940,231	$29.98M	1.8%	$4.71	+198.6%	Common	680277100
—	Fidelity Southern Corporation	1,153,443	$28.58M	1.7%	$1752.30	—	Common	316394105
—	BSB Bancorp, Inc.	850,422	$27.72M	1.6%	$18.21	—	Common	05573H108
—	First Bancshares, Inc.	593,743	$23.19M	1.4%	$2652.86	—	Common	318916103
—	Southern National Bancorp of Virginia,Inc.	1,412,653	$22.89M	1.4%	$553.65	—	Common	843395104
—	Lakeland Bancorp, Inc.	1,180,165	$21.3M	1.3%	$11.45	—	Common	511637100
FFWM	First Foundation Inc.	1,273,583	$19.89M	1.2%	$14.27	+8.1%	Common	32026V104
—	Codorus Valley Bancorp, Inc.	624,804	$19.52M	1.2%	$1683.11	—	Common	192025104
UNTY	Unity Bancorp, Inc.	833,642	$19.09M	1.1%	$9.28	+130.0%	Common	913290102
—	Union Bankshares Corporation	492,949	$18.99M	1.1%	$30.56	—	Common	90539J109
SFST	Southern First Bancshares, Inc.	472,231	$18.56M	1.1%	$15.32	+181.4%	Common	842873101
—	First Choice Bancorp	673,145	$18.23M	1.1%	$22857.07	—	Common	31948P104
OBK	Origin Bancorp Inc.	473,165	$17.82M	1.1%	$38.81	+2.8%	Common	68621T102
—	SB One Bancorp	686,144	$17.29M	1.0%	$30.40	—	Common	78413T103
FBIZ	First Business Financial Services	725,202	$16.81M	1.0%	$15.05	+27.2%	Common	319390100
EFSC	Enterprise Financial Services Corp	314,379	$16.68M	1.0%	$12.68	+278.7%	Common	293712105
—	Iberiabank Corp	204,613	$16.64M	1.0%	$68.13	—	Common	450828108
—	Level One Bancorp, Inc.	597,192	$16.6M	1.0%	$27.18	—	Common	52730D208
WTBFB	W.T.B. Financial Corporation	43,432	$16.59M	1.0%	$163.51	+134.0%	Common	929334209
—	Veritex Holdings, Inc.	567,673	$16.04M	1.0%	$24.50	—	Common	923451108
—	Allegiance Bancshares, Inc.	384,601	$16.04M	1.0%	$26.93	—	Common	01748H107
FRBA	First Bank	1,213,761	$15.96M	0.9%	$7.70	+63.1%	Common	31931U102
FRBKQ	Republic First Bancorp, Inc.	2,211,426	$15.81M	0.9%	$4.89	+56.1%	Common	760416107
NIC	Nicolet Bankshares, Inc.	288,685	$15.74M	0.9%	$40.54	+32.2%	Common	65406E102
BWFG	Bankwell Financial Group, Inc.	477,232	$14.97M	0.9%	$20.73	+26.7%	Common	06654A103
—	Boston Private Financial Holdings, Inc.	1,084,263	$14.8M	0.9%	$10.72	—	Common	101119105
CNOB	ConnectOne Bancorp, Inc.	603,863	$14.34M	0.9%	$15.61	+32.5%	Common	20786W107
SBCF	Seacoast Banking Corporation of Florida	486,569	$14.21M	0.8%	$14.90	+107.8%	Common	811707801
TFIN	Triumph Bancorp, Inc.	365,300	$13.95M	0.8%	$21.84	+90.2%	Common	89679E300
—	National Commerce Corporation	337,664	$13.95M	0.8%	$30.79	—	Common	63546L102
MNSB	MainStreet Bancshares, Inc.	647,708	$13.57M	0.8%	$13.18	+47.0%	Common	56064Y100
BFST	Business First Bancshares, Inc.	510,000	$13.54M	0.8%	$21.36	+2.8%	Common	12326C105
ISTR	Investar Holding Corporation	475,513	$12.77M	0.8%	$16.46	+65.3%	Common	46134L105
QCRH	QCR Holdings, Inc.	309,561	$12.65M	0.7%	$17.16	+149.9%	Common	74727A104
PEBO	Peoples Bancorp Inc.	359,364	$12.59M	0.7%	$23.93	+53.6%	Common	709789101
—	Suncrest Bank	944,016	$12.55M	0.7%	$2477.46	—	Common	86723G109
WSBF	Waterstone Financial, Inc.	708,972	$12.16M	0.7%	$11.24	+51.8%	Common	94188P101
—	Central Valley Community Bancorp	549,654	$11.88M	0.7%	$10.64	—	Common	155685100
—	Malvern Bancorp, Inc.	495,593	$11.87M	0.7%	$17.98	—	Common	561409103
CCNE	CNB Financial Corporation	407,771	$11.77M	0.7%	$16.50	+49.8%	Common	126128107
EQBK	Equity Bancshares, Inc.	297,421	$11.68M	0.7%	$26.23	+47.5%	Common	29460X109
—	Cambridge Bancorp	129,428	$11.65M	0.7%	$40.53	—	Common	132152109
BY	Byline Bancorp, Inc.	485,885	$11.03M	0.7%	$18.47	+13.7%	Common	124411109
SMBK	SmartFinancial, Inc.	458,732	$10.8M	0.6%	$18.11	+37.4%	Common	83190L208
—	1st Constitution Bancorp	520,987	$10.78M	0.6%	$10.86	—	Common	31986N102
PBAM	Private Bancorp of America, Inc.	407,178	$10.51M	0.6%	$18.52	+40.3%	Common	74274F100
—	First Midwest Bancorp, Inc.	390,738	$10.39M	0.6%	$14.43	—	Common	320867104
SHBI	Shore Bancshares, Inc.	564,733	$10.06M	0.6%	$9.91	+90.3%	Common	825107105
—	CenterState Bank Corporation	353,833	$9.925M	0.6%	$11.79	—	Common	15201P109
BSRR	Sierra Bancorp	342,272	$9.892M	0.6%	$10.30	+117.2%	Common	82620P102
FGFH	Foresight Financial Group, Inc.	261,091	$9.399M	0.6%	$20.17	+55.3%	Common	345526107
—	Bank of Princeton	307,721	$9.398M	0.6%	$10994.50	—	Common	064520109
—	California BanCorp	398,942	$9.056M	0.5%	$790.71	—	Common	13005U101
—	Enterprise Bancorp, Inc.	258,495	$8.89M	0.5%	$23.58	—	Common	293668109
SAMG	Silvercrest Asset Management Group Inc.	627,753	$8.694M	0.5%	$14.11	+14.2%	Common	828359109
MVBF	MVB Financial Corp.	478,261	$8.618M	0.5%	$10.99	+37.1%	Common	553810102
MCBI	Mountain Commerce Bancorp	398,253	$8.543M	0.5%	$17.36	+3.7%	Common	624004107
—	Bank of Commerce Holdings	696,567	$8.498M	0.5%	$6.96	—	Common	06424J103
—	Bank of Southern California, N. A.	526,990	$8.348M	0.5%	$9.74	—	Common	065104101
—	Standard AVB Financial Corp.	265,327	$8.252M	0.5%	$27.80	—	Common	85303B100
PSBQ	PSB Holdings, Inc.	300,062	$8.162M	0.5%	$21.60	+20.1%	Common	69360N108
BFC	Bank First National Corporation	147,494	$8.075M	0.5%	$20.46	+129.3%	Common	06211J100
MRBK	Meridian Bank	466,606	$8.026M	0.5%	$7.17	-5.6%	Common	58958P104
—	United Financial Bancorp, Inc.	475,010	$7.994M	0.5%	$295.11	—	Common	910304104
EGBN	Eagle Bancorp, Inc.	157,777	$7.984M	0.5%	$17.07	+153.8%	Common	268948106
—	Green Bancorp, Inc.	358,060	$7.913M	0.5%	$15.02	—	Common	39260X100
OBT	Orange County Bancorp	267,456	$7.756M	0.5%	$12.83	+14.2%	Common	68417L107
SBNC	Southern BancShares (N.C.), Inc.	2,129	$7.718M	0.5%	$1859.16	+102.3%	Common	842243107
—	Reliant Bancorp, Inc.	298,220	$7.625M	0.5%	$25640.00	—	Common	75956B101
OVLY	Oak Valley Bancorp	384,797	$7.561M	0.4%	$8.63	+143.2%	Common	671807105
—	Community Financial Corporation	223,436	$7.469M	0.4%	$20.63	—	Common	20368X101
—	Flagstar Bancorp, Inc.	237,211	$7.465M	0.4%	$26.03	—	Common	337930705
QNBC	QNB Corp.	161,670	$7.421M	0.4%	$31.87	+46.0%	Common	74726N107
BMRC	Bank of Marin Bancorp	88,378	$7.415M	0.4%	$18.77	+76.7%	Common	063425102
—	TGR Financial, Inc.	578,518	$7.347M	0.4%	$12.44	—	Common	87243P108
—	Centric Financial Corporation	580,768	$7.26M	0.4%	$10.11	—	Common	15641J101
WBBW	Westbury Bancorp, Inc.	326,564	$7.184M	0.4%	$17.03	+29.6%	Common	95727P106
BANC	Banc of California, Inc.	379,487	$7.172M	0.4%	$14.87	+12.0%	Common	05990K106
PFLC	Pacific Financial Corporation	558,266	$7.068M	0.4%	$5.37	+62.6%	Common	694275108
FVCB	First Virginia Community Bank	353,561	$7.001M	0.4%	$6.78	+121.8%	Common	36120Q101
—	American Riviera Bank	359,165	$6.896M	0.4%	$3126.82	—	Common	02932A106
—	County Bancorp, Inc.	272,731	$6.846M	0.4%	$23.37	—	Common	221907108
—	Old Line Bancshares, Inc.	214,686	$6.793M	0.4%	$13.30	—	Common	67984M100
—	Revere Bank	216,817	$6.721M	0.4%	$29.82	—	Common	761402106
AMBZ	American Business Bank	159,854	$6.714M	0.4%	$26.26	+54.2%	Common	02475L105
AVBH	Avidbank Holdings, Inc.	263,543	$6.694M	0.4%	$12.85	+97.9%	Common	05368J103
MBIN	Merchants Bancorp	257,153	$6.537M	0.4%	$11.33	+44.7%	Common	58844R108
BCBP	BCB Bancorp, Inc.	463,496	$6.419M	0.4%	$7.61	+32.0%	Common	055298103
—	Carolina Financial Corporation	167,316	$6.311M	0.4%	$24.53	—	Common	143873107
—	Franklin Financial Network, Inc.	161,283	$6.306M	0.4%	$5175.68	—	Common	35352P104
MFGI	Merchants Financial Group, Inc.	81,687	$6.29M	0.4%	$12.35	+70.9%	Common	588538108
—	Community Bankers Trust Corporation	708,851	$6.238M	0.4%	$4.19	—	Common	203612106
—	Macatawa Bank Corporation	530,579	$6.213M	0.4%	$5.54	—	Common	554225102
—	Bryn Mawr Bank Corporation	131,971	$6.189M	0.4%	$25.24	—	Common	117665109
—	FCB Financial Holdings, Inc.	124,475	$5.9M	0.3%	$34.05	—	Common	30255G103
—	West Suburban Bancorp, Inc.	8,172	$5.81M	0.3%	$44437.55	—	Common	956152409
—	Fentura Financial, Inc.	274,411	$5.804M	0.3%	$14.43	—	Common	314645102
—	First of Long Island Corp.	264,475	$5.752M	0.3%	$30.07	—	Common	320734106
—	1st Capital Bank	290,149	$5.658M	0.3%	$735.88	—	Common	31944C107
FNRN	First Northern Community Bancorp	401,298	$5.49M	0.3%	$6.46	+75.0%	Common	335925103
FNBT	FineMark Holdings, Inc.	191,600	$5.461M	0.3%	$26.22	—	Common	31788B108
—	BankFinancial Corporation	342,044	$5.452M	0.3%	$12.37	—	Common	06643P104
—	Northway Financial, Inc.	167,442	$5.375M	0.3%	$22.52	—	Common	667270201
MCB	Metropolitan Bank Holding Corp.	130,000	$5.346M	0.3%	$42.65	+8.5%	Common	591774104
—	Century Bancorp, Inc.	72,882	$5.266M	0.3%	$41.92	—	Common	156432106
—	First Defiance Financial Corp.	171,700	$5.17M	0.3%	$34.20	—	Common	32006W106
UVSP	Univest Corporation of Pennsylvania	189,452	$5.011M	0.3%	$27.49	+1.2%	Common	915271100
—	Highlands Bancorp, Inc.	267,834	$4.888M	0.3%	$13.87	—	Common	430887109
—	Sterling Bancorp, Inc.	431,000	$4.875M	0.3%	$12700.00	—	Common	85917W102
FCCO	First Community Corporation	198,768	$4.81M	0.3%	$7.60	+173.0%	Common	319835104
FRAF	Franklin Financial Services Corp.	134,309	$4.67M	0.3%	$26.57	-1.8%	Common	353525108
—	Pacific Mercantile Bancorp	490,000	$4.582M	0.3%	$9.35	—	Common	694552100
MVLY	Mission Valley Bancorp	266,339	$4.541M	0.3%	$7.87	+104.9%	Common	60520E104
—	Carolina Trust BancShares, Inc.	551,294	$4.532M	0.3%	$6.94	—	Common	14422P105
VABK	Virginia National Bankshares Corp.	97,401	$4.485M	0.3%	$19.28	+141.1%	Common	928031103
—	CBTX, Inc.	125,000	$4.443M	0.3%	$25000.00	—	Common	12481V104
—	Emclaire Financial Corp.	117,207	$4.372M	0.3%	$23.94	—	Common	290828102
FCOB	1st Colonial Bancorp	334,777	$4.315M	0.3%	$7.45	+67.4%	Common	319716106
INBK	First Internet Bancorp	139,000	$4.233M	0.3%	$30.41	+4.6%	Common	320557101
JMSB	John Marshall Bank	228,875	$4.223M	0.3%	$17.63	+3.1%	Common	47805L101
—	LegacyTexas Financial Group, Inc.	98,192	$4.183M	0.2%	$23.25	—	Common	52471Y106
PBNK	Pinnacle Bank	282,563	$4.182M	0.2%	$7.11	+92.0%	Common	72346K107
FBK	FB Financial Corp.	104,940	$4.112M	0.2%	$19.65	+97.3%	Common	30257X104
MYFW	First Western Financial, Inc.	234,500	$4.101M	0.2%	$17.75	0.0%	Common	33751L105
—	Bridge Bancorp Inc.	122,020	$4.051M	0.2%	$30.20	—	Common	108035106
FISI	Financial Institutions, Inc.	127,519	$4.004M	0.2%	$18.60	+22.9%	Common	317585404
ACIC	United Insurance Holdings Corp.	178,277	$3.99M	0.2%	$10.80	+53.2%	Common	910710102
KINS	Kingstone Companies, Inc.	209,083	$3.973M	0.2%	$11.70	+30.6%	Common	496719105
CBFV	CB Financial Services, Inc.	127,616	$3.937M	0.2%	$20.36	+17.2%	Common	12479G101
—	York Traditions Bank	204,391	$3.914M	0.2%	$327.35	—	Common	987159100
CSHX	Cashmere Valley Bank	55,052	$3.91M	0.2%	$28.92	+88.7%	Common	14756K102
—	Commencement Bank	231,041	$3.893M	0.2%	$13.25	—	Common	20051L109
—	Dime Community Bancshares, Inc.	213,800	$3.816M	0.2%	$21.50	—	Common	253922108
FFBB	Communities First Financial Corporation	151,245	$3.796M	0.2%	$10.37	+148.6%	Common	20344D104
—	Kentucky Bancshares, Inc.	73,162	$3.793M	0.2%	$34.49	—	Common	491203105
—	Community Bank of the Bay	475,440	$3.685M	0.2%	$6.90	—	Common	203485107
EMYB	Embassy Bancorp, Inc.	209,137	$3.67M	0.2%	$11.79	+25.4%	Common	290791102
MOFG	MidWestOne Financial Group, Inc.	109,100	$3.634M	0.2%	$34.18	-1.9%	Common	598511103
RVSB	Riverview Bancorp, Inc.	409,670	$3.621M	0.2%	$3.01	+144.2%	Common	769397100
MBCN	Middlefield Banc Corp.	76,491	$3.603M	0.2%	$15.31	+29.5%	Common	596304204
PPBN	Pinnacle Bankshares Corporation	110,230	$3.582M	0.2%	$15.23	+68.9%	Common	72345E102
—	Howard Bancorp, Inc.	199,687	$3.534M	0.2%	$18.68	—	Common	442496105
—	Lake Shore Bancorp	211,090	$3.483M	0.2%	$12.65	—	Common	510700107
—	Riverview Financial Corporation	255,160	$3.47M	0.2%	$10173.18	—	Common	76940Q105
—	Luther Burbank Corporation	313,000	$3.405M	0.2%	$12040.00	—	Common	550550107
—	Metro Phoenix Bank	261,167	$3.369M	0.2%	$11.72	—	Common	59165E106
—	Southern States Bancshares	232,143	$3.366M	0.2%	$14.50	—	Common	843878109
CBKM	Consumers Bancorp, Inc.	142,032	$3.366M	0.2%	$13.55	+34.6%	Common	210509105
—	Guaranty Bancshares, Inc.	111,027	$3.356M	0.2%	$2320.94	—	Common	400764106
BOTJ	Bank of the James Financial Group, Inc.	210,156	$3.323M	0.2%	$8.53	+39.9%	Common	470299108
TRVR	Two Rivers Financial Group, Inc.	93,708	$3.307M	0.2%	$17.33	+72.2%	Common	90206L106
—	Brookline Bancorp, Inc.	197,800	$3.303M	0.2%	$14.60	—	Common	11373M107
—	Two River Bancorp	189,159	$3.28M	0.2%	$11.66	—	Common	90207C105
BKOR	Oak Ridge Financial Services, Inc.	201,193	$3.269M	0.2%	$7.24	—	Common	671768109
BHB	Bar Harbor Bankshares	112,729	$3.238M	0.2%	$18.62	+18.6%	Common	066849100
CZFS	Citizens Financial Services	50,872	$3.182M	0.2%	$35.37	+36.2%	Common	174615104
—	Limestone Bancorp, Inc.	202,935	$3.145M	0.2%	$15.24	—	Common	53262L105
TRCY	Tri City Bankshares Corporation	136,970	$3.13M	0.2%	$17.59	—	Common	895364107
—	DNB Financial Corporation	81,867	$3.021M	0.2%	$28.00	—	Common	233237106
HFBL	Home Federal Bancorp, Inc. of Louisiana	87,956	$2.999M	0.2%	$9.60	+74.8%	Common	43708L108
FMNB	Farmers National Banc Corp.	195,604	$2.993M	0.2%	$4.77	+146.0%	Common	309627107
FGBI	First Guaranty Bancshares, Inc.	113,590	$2.918M	0.2%	$10.64	+57.7%	Common	32043P106
—	Spirit of Texas Bancshares, Inc.	131,600	$2.841M	0.2%	$20.65	—	Common	84861D103
SBFG	SB Financial Group, Inc.	138,889	$2.826M	0.2%	$17.69	+8.4%	Common	78408D105
—	NorthWest Indiana Bancorp	62,903	$2.799M	0.2%	$25.89	—	Common	667516108
FMBH	First Mid-Illinois	69,197	$2.791M	0.2%	$31.11	+7.8%	Common	320866106
—	CapStar Financial Holdings, Inc.	166,415	$2.779M	0.2%	$17.18	—	Common	14070T102
RCBC	River City Bank	12,557	$2.764M	0.2%	$13.08	+71.5%	Common	76803X106
—	FedNat Holding Company	107,100	$2.729M	0.2%	$23.07	—	Common	31431B109
CYFL	Century Financial Corporation	121,646	$2.676M	0.2%	$11.31	+43.1%	Common	15652L102
—	SBT Bancorp, Inc.	69,321	$2.669M	0.2%	$4799.78	—	Common	78391C106
CZBC	Citizens Bancorp	122,449	$2.625M	0.2%	$10.82	+60.3%	Common	172950107
EFSI	Eagle Financial Services Inc.	69,365	$2.587M	0.2%	$15.23	+85.5%	Common	26951R104
SSBI	Summit State Bank	166,007	$2.548M	0.2%	$7.53	+51.3%	Common	866264203
—	People's Bank of Commerce	178,096	$2.476M	0.1%	$9.91	—	Common	710311101
—	Presidio Bank	91,044	$2.413M	0.1%	$12.07	—	Common	74101A100
CCNB	Coastal Carolina Bancshares, Inc.	262,238	$2.36M	0.1%	$7.00	+19.3%	Common	190435107
PPBB	Peoples Bancorp	8,996	$2.339M	0.1%	$196.88	+23.4%	Common	70979X107
SOMC	Southern Michigan Bancorp Inc.	57,630	$2.326M	0.1%	$7.88	+99.7%	Common	84336P103
—	First Home Bancorp, Inc.	89,062	$2.316M	0.1%	$27.81	—	Common	32050L105
LFGP	Ledyard Financial Group, Inc.	100,350	$2.308M	0.1%	$18.50	+21.9%	Common	523338101
—	State Bank Financial Corporation	74,951	$2.262M	0.1%	$332.82	—	Common	856190103
—	Bank of Santa Clarita	106,860	$2.244M	0.1%	$9.29	—	Common	06424K100
—	GrandSouth Bancorporation	117,200	$2.227M	0.1%	$9.47	—	Common	386627301
—	Professional Holding Corp.	125,000	$2.188M	0.1%	$1252.27	—	Common	743139107
HFWA	Heritage Financial Corporation	61,928	$2.177M	0.1%	$27.19	+32.1%	Common	42722X106
CYSM	Community Bancorp of Santa Maria	173,824	$2.173M	0.1%	$9.03	+32.3%	Common	20344R103
—	SouthCrest Financial Group, Inc.	206,968	$2.152M	0.1%	$6.07	—	Common	84129X107
—	Northeast Community Bancorp, Inc.	168,100	$2.143M	0.1%	$6.46	—	Common	664112109
—	Meridian Interstate Bancorp	125,001	$2.125M	0.1%	$18.72	—	Common	58958U103
AUBN	Auburn National Bancorporation, Inc.	53,878	$2.065M	0.1%	$17.88	+99.7%	Common	050473107
—	Aquesta Financial Holdings, Inc.	162,518	$2.031M	0.1%	$8.69	—	Common	03842L109
—	Independent Bank Group, Inc	30,500	$2.022M	0.1%	$34108.98	—	Common	45384B106
—	Atlantic Capital Bancshares, Inc.	120,646	$2.021M	0.1%	$14.80	—	Common	048269203
CCBC	Chino Commercial Bancorp	115,327	$2.018M	0.1%	$9.87	+27.1%	Common	16957L102
—	Three Shores Bancorporation, Inc.	190,000	$1.986M	0.1%	$7.80	—	Common	885753103
SABK	South Atlantic Bancshares, Inc.	137,388	$1.951M	0.1%	$1500.93	-99.1%	Common	83636T104
WASH	Washington Trust Bancorp, Inc.	35,175	$1.945M	0.1%	$20.38	+88.3%	Common	940610108
—	Lighthouse Bank	75,995	$1.892M	0.1%	$13.34	—	Common	53223T106
—	Freedom Bank of Virginia	148,235	$1.797M	0.1%	$12.68	—	Common	35633M102
PMHG	Prime Meridian Holding Company	77,415	$1.761M	0.1%	$18.21	+13.0%	Common	74164R107
FXNC	First National Corporation	81,662	$1.756M	0.1%	$5.34	+231.9%	Common	32106V107
—	FNS Bancshares, Inc.	23,950	$1.748M	0.1%	$72.99	—	Common	30253F107
AMFC	AMB Financial Corp.	93,750	$1.711M	0.1%	$8.50	+106.7%	Common	001984103
SOBS	Solvay Bank Corporation	37,743	$1.704M	0.1%	$22.47	+20.4%	Common	83441Q105
CCB	CCB Financial	100,000	$1.7M	0.1%	$16.55	0.0%	Common	19046P209
—	Sevier County Bancshares, Inc.	110,000	$1.65M	0.1%	$10.00	—	Common	81817P206
—	Fauquier Bancshares, Inc.	64,676	$1.637M	0.1%	$12.52	—	Common	312059108
HTBK	Heritage Commerce Corp	107,727	$1.607M	0.1%	$7.21	+119.4%	Common	426927109
—	First South Bancorp, Inc.	1,597,246	$1.597M	0.1%	$1.00	—	Common	33646D102
—	Select Bancorp, Inc.	125,000	$1.55M	0.1%	$12.40	—	Common	81617L108
PCLB	Pinnacle Bancshares, Inc.	62,565	$1.536M	0.1%	$18.38	+4.6%	Common	722903101
—	ESSA Bancorp, Inc.	92,732	$1.508M	0.1%	$11.51	—	Common	29667D104
—	Empire Bancorp Inc.	100,188	$1.473M	0.1%	$13.99	—	Common	291617108
—	Santa Cruz County Bank	27,365	$1.464M	0.1%	$16097.38	—	Common	801827106
UCB	United Community Banks, Inc.	52,355	$1.46M	0.1%	$20.67	+46.6%	Common	90984P303
—	Middletown Valley Bank	52,632	$1.408M	0.1%	$25.04	—	Common	597338102
SF	Stifel Financial Corp.	27,427	$1.406M	0.1%	$20.09	+60.5%	Common	860630102
—	Access National Corporation	51,740	$1.403M	0.1%	$26.64	—	Common	004337101
TOWN	TowneBank	45,252	$1.396M	0.1%	$30.05	+7.6%	Common	89214P109
—	Bank of Fincastle	506,486	$1.322M	0.1%	$2.11	—	Common	062113105
—	Wellesley Bancorp, Inc.	38,393	$1.315M	0.1%	$28.92	—	Common	949485106
BWB	Bridgewater Bancshares, Inc.	100,000	$1.302M	0.1%	$12.89	-0.5%	Common	108621103
IROQ	IF Bancorp, Inc.	51,470	$1.186M	0.1%	$16.71	+46.6%	Common	44951J105
TYFG	Tri-County Financial Group, Inc.	26,822	$1.177M	0.1%	$36.82	+2.2%	Common	89546P108
JRVR	James River Group Holdings, Ltd.	26,809	$1.143M	0.1%	$39.92	+2.4%	Common	G5005R107
GNRV	Grand River Commerce, Inc.	181,819	$1.118M	0.1%	$5.91	+2.9%	Common	386441109
—	Salisbury Bancorp, Inc.	26,216	$1.101M	0.1%	$26.30	—	Common	795226109
—	Greater Hudson Bank	189,149	$1.097M	0.1%	$5.10	—	Common	391868106
—	Carter Bank & Trust	56,406	$1.094M	0.1%	$12.38	—	Common	146102108
ESQ	Esquire Bank, National Association	42,500	$1.061M	0.1%	$14.50	+69.5%	Common	29667J101
CBNK	Capital Bancorp, Inc.	80,000	$1.018M	0.1%	$12.02	0.0%	Common	139737100
—	Surrey Bancorp	69,785	$1.012M	0.1%	$11.40	—	Common	86888W105
—	Village Bank and Trust Financial Corp.	29,133	$973K	0.1%	$17.39	—	Common	92705T200
—	Americas United Bank	68,483	$948K	0.1%	$13.40	—	Common	03063C101
—	Pioneer Bancshares, Inc	30,000	$930K	0.1%	$30.47	—	Common	72357G102
—	AJS Bancorp, Inc.	56,668	$890K	0.1%	$14.66	—	Common	001503101
—	Carolina Alliance Bank	49,369	$863K	0.1%	$12.67	—	Common	126742105
MPB	Mid Penn Bank	28,955	$844K	0.1%	$24.93	0.0%	Common	59540G107
PGNN	Paragon Financial Solutions, Inc.	64,416	$725K	0.0%	$6.59	+69.6%	Common	69912S100
—	Town and Country Financial Corporation	29,513	$679K	0.0%	$10.82	—	Common	892039108
FSRL	First Reliance Bancshares, Inc.	84,792	$636K	0.0%	$7.53	-1.2%	Common	33615Q100
—	First Citrus Bancorporation, Inc.	22,567	$634K	0.0%	$17.51	—	Common	31959T102
FIBK	First Interstate BancSystem, Inc.	12,715	$570K	0.0%	$30.14	0.0%	Common	32055Y201
FFMH	First Farmers and Merchants Corporation	12,500	$568K	0.0%	$30.90	+11.8%	Common	320148109
—	American River Bankshares	32,522	$498K	0.0%	$9.53	—	Common	029326105
UWHR	Uwharrie Capital Corp	66,038	$368K	0.0%	$5.57	-4.5%	Common	918183104
—	CoBiz Financial Inc.	15,001	$332K	0.0%	$8.43	—	Common	190897108
CZWI	Citizens Community Bancorp, Inc.	23,000	$322K	0.0%	$11.78	+2.8%	Common	174903104
—	State Bank Corp.	21,100	$308K	0.0%	$6.65	—	Common	856121108
—	Guaranty Bancorp	10,000	$297K	0.0%	$19.02	—	Common	40075T607
—	PB Bancorp, Inc.	23,801	$280K	0.0%	$8.97	—	Common	70454T100
—	HomeTown Bankshares Corporation	11,342	$152K	0.0%	$6.43	—	Common	43787N108
BLHK	blueharbor bank	10,800	$136K	0.0%	$11.65	+1.9%	Common	095613105