Elizabeth Park Capital Advisors, Ltd. Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FRAF	FRANKLIN FINL SVCS CORP	63,910	$3,265	2.5%	$50.14	0.0%	COM	353525108
FFBC	1ST FINL BANCORP	108,254	$3,018	2.3%	$28.21	0.0%	COM	320209109
FITB	FIFTH THIRD BANCORP	55,000	$2,555	2.0%	$51.27	0.0%	COM	316773100
BUSE	FIRST BUSEY CORP	99,797	$2,522	1.9%	$25.25	0.0%	COM NEW	319383204
SFBS	SERVISFIRST BANCSHARES INC	34,000	$2,476	1.9%	$81.81	0.0%	COM	81768T108
SFNC	SIMMONS FIRST NATL CORP	109,369	$2,127	1.6%	$20.38	0.0%	CL A $1 PAR	828730200
SFST	SOUTHERN FIRST BANCSHARES	37,803	$2,060	1.6%	$56.49	0.0%	COM	842873101
FLG	FLAGSTAR BANK NATIONAL ASSOC	58,700	$773	0.6%	$13.36	0.0%	COM NEW	649445400

Increased Positions (16)

BCAL CALIFORNIA BANCORP 3.5%

Value ($000) $4,511 (+69.4%) Shares 254,578 (+78.5%) Est. Cost $18.46 Unrealized +1.1%

UMBF UMB FINL CORP 1.9%

Value ($000) $2,482 (+195.4%) Shares 22,002 (+201.3%) Est. Cost $120.21 Unrealized +4.0%

AVBH AVIDBANK HLDGS INC 1.4%

Value ($000) $1,754 (+230.2%) Shares 61,551 (+207.8%) Est. Cost $26.85 Unrealized +5.8%

OBK ORIGIN BANCORP INC 4.1%

Value ($000) $5,318 (+12.2%) Shares 128,151 (+1.6%) Est. Cost $36.45 Unrealized +15.2%

HBNC HORIZON BANCORP IND 3.6%

Value ($000) $4,717 (+8.4%) Shares 284,669 (+10.9%) Est. Cost $16.52 Unrealized +6.8%

HAFC HANMI FINL CORP 2.0%

Value ($000) $2,576 (+13.8%) Shares 97,720 (+16.7%) Est. Cost $26.88 Unrealized +2.6%

PEBO PEOPLES BANCORP INC 1.9%

Value ($000) $2,438 (+14.1%) Shares 74,167 (+4.2%) Est. Cost $30.35 Unrealized +6.6%

OSBC OLD SECOND BANCORP INC DEL 2.6%

Value ($000) $3,356 (+8.5%) Shares 166,457 (+4.9%) Est. Cost $16.49 Unrealized +23.0%

CNOB CONNECTONE BANCORP INC 2.1%

Value ($000) $2,763 (+6.2%) Shares 103,219 (+4.0%) Est. Cost $22.51 Unrealized +20.8%

ZION ZIONS BANCORPORATION NATL AS 2.8%

Value ($000) $3,621 (+4.2%) Shares 62,850 (+5.9%) Est. Cost $52.87 Unrealized +15.1%

EWBC EAST WEST BANCORP INC 3.1%

Value ($000) $3,971 (+3.3%) Shares 37,200 (+8.8%) Est. Cost $80.44 Unrealized +44.5%

ONB OLD NATL BANCORP IND 2.6%

Value ($000) $3,439 (+3.7%) Shares 155,600 (+4.7%) Est. Cost $17.35 Unrealized +39.2%

IBOC INTERNATIONAL BANCSHARES COR 3.2%

Value ($000) $4,205 (+2.8%) Shares 62,487 (+1.5%) Est. Cost $68.55 Unrealized +2.1%

FSEA FIRST SEACOAST BANCORP INC 1.3%

Value ($000) $1,734 (+5.1%) Shares 138,076 (+10.5%) Est. Cost $10.36 Unrealized +25.2%

COLB COLUMBIA BKG SYS INC 2.1%

Value ($000) $2,727 (+0.6%) Shares 99,400 (+2.5%) Est. Cost $25.36 Unrealized +18.2%

SBCF SEACOAST BKG CORP FLA 1.6%

Value ($000) $2,074 (+0.1%) Shares 68,477 (+3.8%) Est. Cost $25.39 Unrealized +31.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BCAL	CALIFORNIA BANCORP	254,578 (+78.5%)	$4,511 (+69.4%)	3.5%	$18.46	+1.1%	COM	84252A106
UMBF	UMB FINL CORP	22,002 (+201.3%)	$2,482 (+195.4%)	1.9%	$120.21	+4.0%	COM	902788108
AVBH	AVIDBANK HLDGS INC	61,551 (+207.8%)	$1,754 (+230.2%)	1.4%	$26.85	+5.8%	COM	05368J103
OBK	ORIGIN BANCORP INC	128,151 (+1.6%)	$5,318 (+12.2%)	4.1%	$36.45	+15.2%	COM	68621T102
HBNC	HORIZON BANCORP IND	284,669 (+10.9%)	$4,717 (+8.4%)	3.6%	$16.52	+6.8%	COM	440407104
HAFC	HANMI FINL CORP	97,720 (+16.7%)	$2,576 (+13.8%)	2.0%	$26.88	+2.6%	COM NEW	410495204
PEBO	PEOPLES BANCORP INC	74,167 (+4.2%)	$2,438 (+14.1%)	1.9%	$30.35	+6.6%	COM	709789101
OSBC	OLD SECOND BANCORP INC DEL	166,457 (+4.9%)	$3,356 (+8.5%)	2.6%	$16.49	+23.0%	COM	680277100
CNOB	CONNECTONE BANCORP INC	103,219 (+4.0%)	$2,763 (+6.2%)	2.1%	$22.51	+20.8%	COM	20786W107
ZION	ZIONS BANCORPORATION NATL AS	62,850 (+5.9%)	$3,621 (+4.2%)	2.8%	$52.87	+15.1%	COM	989701107
EWBC	EAST WEST BANCORP INC	37,200 (+8.8%)	$3,971 (+3.3%)	3.1%	$80.44	+44.5%	COM	27579R104
ONB	OLD NATL BANCORP IND	155,600 (+4.7%)	$3,439 (+3.7%)	2.6%	$17.35	+39.2%	COM	680033107
IBOC	INTERNATIONAL BANCSHARES COR	62,487 (+1.5%)	$4,205 (+2.8%)	3.2%	$68.55	+2.1%	COM	459044103
FSEA	FIRST SEACOAST BANCORP INC	138,076 (+10.5%)	$1,734 (+5.1%)	1.3%	$10.36	+25.2%	COM	33631F104
COLB	COLUMBIA BKG SYS INC	99,400 (+2.5%)	$2,727 (+0.6%)	2.1%	$25.36	+18.2%	COM	197236102
SBCF	SEACOAST BKG CORP FLA	68,477 (+3.8%)	$2,074 (+0.1%)	1.6%	$25.39	+31.7%	COM NEW	811707801

Exited Positions (7)

AUB ATLANTIC UN BANKSHARES CORP 2.3%

Value ($000) $3,021 Shares 85,575 Est. Cost $28.39 Unrealized +36.6%

WBS WEBSTER FINL CORP 2.1%

Value ($000) $2,738 Shares 43,500 Est. Cost $59.53 Unrealized +14.6%

OFG OFG BANCORP 1.8%

Value ($000) $2,304 Shares 56,219 Est. Cost $34.55 Unrealized +18.8%

CCB COASTAL FINL CORP WA 1.7%

Value ($000) $2,178 Shares 19,011 Est. Cost $73.77 Unrealized +34.1%

HBCP HOME BANCORP INC 1.5%

Value ($000) $1,992 Shares 34,469 Est. Cost $54.44 Unrealized +10.8%

ESQ ESQUIRE FINL HLDGS INC 1.3%

Value ($000) $1,660 Shares 16,263 Est. Cost $41.03 Unrealized +164.1%

SPFI SOUTH PLAINS FINANCIAL INC 1.2%

Value ($000) $1,532 Shares 39,491 Est. Cost $39.04 Unrealized +5.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AUB	ATLANTIC UN BANKSHARES CORP	85,575	$3,021	2.3%	$28.39	+36.6%	—	04911A107
WBS	WEBSTER FINL CORP	43,500	$2,738	2.1%	$59.53	+14.6%	—	947890109
OFG	OFG BANCORP	56,219	$2,304	1.8%	$34.55	+18.8%	—	67103X102
CCB	COASTAL FINL CORP WA	19,011	$2,178	1.7%	$73.77	+34.1%	—	19046P209
HBCP	HOME BANCORP INC	34,469	$1,992	1.5%	$54.44	+10.8%	—	43689E107
ESQ	ESQUIRE FINL HLDGS INC	16,263	$1,660	1.3%	$41.03	+164.1%	—	29667J101
SPFI	SOUTH PLAINS FINANCIAL INC	39,491	$1,532	1.2%	$39.04	+5.9%	—	83946P107

Decreased Positions (6)

WTFC WINTRUST FINL CORP 1.5%

Value ($000) $2,000 (-41.4%) Shares 14,392 (-41.0%) Est. Cost $106.28 Unrealized +41.2%

HTB HOMETRUST BANCSHARES INC 1.3%

Value ($000) $1,738 (-31.1%) Shares 40,760 (-30.6%) Est. Cost $35.65 Unrealized +22.3%

FCCO FIRST CMNTY CORP S C 1.9%

Value ($000) $2,444 (-16.8%) Shares 83,624 (-15.6%) Est. Cost $14.66 Unrealized +102.3%

SMBK SMARTFINANCIAL INC 1.9%

Value ($000) $2,503 (-8.4%) Shares 64,042 (-13.3%) Est. Cost $24.96 Unrealized +60.8%

ATLO AMES NATL CORP 1.7%

Value ($000) $2,271 (-7.9%) Shares 80,480 (-25.1%) Est. Cost $17.29 Unrealized +48.2%

CFG CITIZENS FINL GROUP INC 3.4%

Value ($000) $4,386 (-4.1%) Shares 73,130 (-6.6%) Est. Cost $35.00 Unrealized +80.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
WTFC	WINTRUST FINL CORP	14,392 (-41.0%)	$2,000 (-41.4%)	1.5%	$106.28	+41.2%	COM	97650W108
HTB	HOMETRUST BANCSHARES INC	40,760 (-30.6%)	$1,738 (-31.1%)	1.3%	$35.65	+22.3%	COM	437872104
FCCO	FIRST CMNTY CORP S C	83,624 (-15.6%)	$2,444 (-16.8%)	1.9%	$14.66	+102.3%	COM	319835104
SMBK	SMARTFINANCIAL INC	64,042 (-13.3%)	$2,503 (-8.4%)	1.9%	$24.96	+60.8%	COM NEW	83190L208
ATLO	AMES NATL CORP	80,480 (-25.1%)	$2,271 (-7.9%)	1.7%	$17.29	+48.2%	COM	031001100
CFG	CITIZENS FINL GROUP INC	73,130 (-6.6%)	$4,386 (-4.1%)	3.4%	$35.00	+80.3%	COM	174610105

Unchanged Positions (16)

NRIM NORTHRIM BANCORP INC 1.8%

Value ($000) $2,340 Shares 102,268 Est. Cost $20.08 Unrealized +29.6%

DCOM DIME CMNTY BANCSHARES INC 2.4%

Value ($000) $3,071 Shares 90,814 Est. Cost $24.81 Unrealized +32.9%

VLY VALLEY NATL BANCORP 3.4%

Value ($000) $4,432 Shares 360,935 Est. Cost $8.54 Unrealized +48.1%

PLBC PLUMAS BANCORP 2.0%

Value ($000) $2,625 Shares 53,778 Est. Cost $38.59 Unrealized +28.2%

CCNE CNB FINL CORP PA 1.5%

Value ($000) $1,925 Shares 66,458 Est. Cost $22.98 Unrealized +21.7%

QCRH QCR HLDGS INC 5.6%

Value ($000) $7,272 Shares 85,100 Est. Cost $30.76 Unrealized +189.2%

VABK VIRGINIA NATL BK CHRLOTSVLE 2.2%

Value ($000) $2,860 Shares 74,879 Est. Cost $33.89 Unrealized +19.5%

MBWM MERCANTILE BK CORP 2.0%

Value ($000) $2,574 Shares 50,971 Est. Cost $45.87 Unrealized +13.3%

BHB BAR HBR BANKSHARES 1.9%

Value ($000) $2,519 Shares 77,623 Est. Cost $28.38 Unrealized +17.3%

COSO COASTALSOUTH BANCSHARES INC 1.4%

Value ($000) $1,862 Shares 75,740 Est. Cost $21.58 Unrealized +12.5%

CBNK CAPITAL BANCORP INC MD 1.4%

Value ($000) $1,791 Shares 60,224 Est. Cost $23.39 Unrealized +29.5%

BRBS BLUE RIDGE BANKSHARES INC VA 2.6%

Value ($000) $3,366 Shares 803,446 Est. Cost $2.84 Unrealized +51.2%

WNEB WESTERN NEW ENG BANCORP INC 1.5%

Value ($000) $1,887 Shares 145,962 Est. Cost $11.31 Unrealized +17.5%

CIVB CIVISTA BANCSHARES INC 1.1%

Value ($000) $1,388 Shares 60,891 Est. Cost $15.92 Unrealized +46.8%

JMSB JOHN MARSHALL BANCORP INC 1.6%

Value ($000) $2,136 Shares 105,339 Est. Cost $24.87 Unrealized -18.9%

USCB USCB FINANCIAL HOLDINGS INC 1.6%

Value ($000) $2,051 Shares 110,599 Est. Cost $14.71 Unrealized +31.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NRIM	NORTHRIM BANCORP INC	102,268	$2,340	1.8%	$20.08	+29.6%	COM	666762109
DCOM	DIME CMNTY BANCSHARES INC	90,814	$3,071	2.4%	$24.81	+32.9%	COM	25432X102
VLY	VALLEY NATL BANCORP	360,935	$4,432	3.4%	$8.54	+48.1%	COM	919794107
PLBC	PLUMAS BANCORP	53,778	$2,625	2.0%	$38.59	+28.2%	COM	729273102
CCNE	CNB FINL CORP PA	66,458	$1,925	1.5%	$22.98	+21.7%	COM	126128107
QCRH	QCR HLDGS INC	85,100	$7,272	5.6%	$30.76	+189.2%	COM	74727A104
VABK	VIRGINIA NATL BK CHRLOTSVLE	74,879	$2,860	2.2%	$33.89	+19.5%	COM	928031103
MBWM	MERCANTILE BK CORP	50,971	$2,574	2.0%	$45.87	+13.3%	COM	587376104
BHB	BAR HBR BANKSHARES	77,623	$2,519	1.9%	$28.38	+17.3%	COM	066849100
COSO	COASTALSOUTH BANCSHARES INC	75,740	$1,862	1.4%	$21.58	+12.5%	COM NEW	19058X207
CBNK	CAPITAL BANCORP INC MD	60,224	$1,791	1.4%	$23.39	+29.5%	COM	139737100
BRBS	BLUE RIDGE BANKSHARES INC VA	803,446	$3,366	2.6%	$2.84	+51.2%	COM	095825105
WNEB	WESTERN NEW ENG BANCORP INC	145,962	$1,887	1.5%	$11.31	+17.5%	COM	958892101
CIVB	CIVISTA BANCSHARES INC	60,891	$1,388	1.1%	$15.92	+46.8%	COM NO PAR	178867107
JMSB	JOHN MARSHALL BANCORP INC	105,339	$2,136	1.6%	$24.87	-18.9%	COM	47805L101
USCB	USCB FINANCIAL HOLDINGS INC	110,599	$2,051	1.6%	$14.71	+31.9%	CLASS A COM	90355N101