Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
WFC	WELLS FARGO CO NEW	144,410 (+2306.8%)	$11.5M (+1955.9%)	5.7%	$89.90	+0.2%	COM	949746101
TFC	TRUIST FINL CORP	395,710 (+24.6%)	$18.19M (+16.4%)	9.0%	$35.43	+44.4%	COM	89832Q109
SCHW	SCHWAB CHARLES CORP	16,229 (+226.9%)	$1.525M (+207.5%)	0.8%	$98.48	+1.7%	COM	808513105
CFG	CITIZENS FINL GROUP INC	248,665 (+3.6%)	$14.91M (+6.4%)	7.4%	$47.30	+33.4%	COM	174610105
TCBX	THIRD COAST BANCSHARES INC	204,923 (+12.5%)	$7.752M (+11.9%)	3.9%	$21.32	+89.7%	COM	88422P109
BA	BOEING CO	20,000 (+33.3%)	$3.981M (+22.2%)	2.0%	$225.47	+5.8%	CALL	097023105

Exited Positions (2)

EGBN EAGLE BANCORP INC MD 2.0%

Value $3.957M Shares 184,749 Est. Cost $19.26 Unrealized +30.0%

AUB ATLANTIC UN BANKSHARES CORP 0.8%

Value $1.645M Shares 46,600 Est. Cost $27.78 Unrealized +39.6%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EGBN	EAGLE BANCORP INC MD	184,749	$3.957M	2.0%	$19.26	+30.0%	—	268948106
AUB	ATLANTIC UN BANKSHARES CORP	46,600	$1.645M	0.8%	$27.78	+39.6%	—	04911A107

Decreased Positions (9)

QQQ INVESCO QQQ TR 5.7%

Value $11.54M (-53.0%) Shares 20,000 (-50.0%) Est. Cost $437.02 Unrealized —

AX AXOS FINANCIAL INC 4.8%

Value $9.68M (-26.7%) Shares 113,765 (-25.8%) Est. Cost $55.77 Unrealized +69.7%

TFC TRUIST FINL CORP 2.3%

Value $4.597M (-37.7%) Shares 100,000 (-33.3%) Est. Cost $35.43 Unrealized +44.4%

MRBK MERIDIAN CORPORATION 2.3%

Value $4.535M (-26.8%) Shares 239,210 (-32.1%) Est. Cost $10.26 Unrealized +84.5%

MVBF MVB FINL CORP 0.9%

Value $1.766M (-38.1%) Shares 71,131 (-35.7%) Est. Cost $24.98 Unrealized +10.6%

PKBK PARKE BANCORP INC 5.3%

Value $10.63M (-6.4%) Shares 374,147 (-17.5%) Est. Cost $17.94 Unrealized +50.9%

BA BOEING CO 0.9%

Value $1.891M (-25.6%) Shares 9,500 (-18.8%) Est. Cost $225.47 Unrealized +5.8%

CFFI C & F FINL CORP 0.3%

Value $525K (-49.1%) Shares 7,193 (-49.3%) Est. Cost $41.57 Unrealized +78.2%

FISI FINANCIAL INSTNS INC 8.9%

Value $17.89M (+0.3%) Shares 564,100 (-1.4%) Est. Cost $18.56 Unrealized +77.2%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
QQQ	INVESCO QQQ TR	20,000 (-50.0%)	$11.54M (-53.0%)	5.7%	$437.02	—	PUT	46090E103
AX	AXOS FINANCIAL INC	113,765 (-25.8%)	$9.68M (-26.7%)	4.8%	$55.77	+69.7%	COM	05465C100
TFC	TRUIST FINL CORP	100,000 (-33.3%)	$4.597M (-37.7%)	2.3%	$35.43	+44.4%	CALL	89832Q109
MRBK	MERIDIAN CORPORATION	239,210 (-32.1%)	$4.535M (-26.8%)	2.3%	$10.26	+84.5%	COM	58958P104
MVBF	MVB FINL CORP	71,131 (-35.7%)	$1.766M (-38.1%)	0.9%	$24.98	+10.6%	COM	553810102
PKBK	PARKE BANCORP INC	374,147 (-17.5%)	$10.63M (-6.4%)	5.3%	$17.94	+50.9%	COM	700885106
BA	BOEING CO	9,500 (-18.8%)	$1.891M (-25.6%)	0.9%	$225.47	+5.8%	COM	097023105
CFFI	C & F FINL CORP	7,193 (-49.3%)	$525K (-49.1%)	0.3%	$41.57	+78.2%	COM	12466Q104
FISI	FINANCIAL INSTNS INC	564,100 (-1.4%)	$17.89M (+0.3%)	8.9%	$18.56	+77.2%	COM	317585404

Unchanged Positions (11)

BBT BEACON FINANCIAL CORP. 7.6%

Value $15.34M Shares 511,288 Est. Cost $24.85 Unrealized +16.3%

QQQ INVESCO QQQ TR 4.5%

Value $9.142M Shares 15,839 Est. Cost $437.02 Unrealized —

FVCB FVCBANKCORP INC 3.3%

Value $6.634M Shares 436,748 Est. Cost $12.43 Unrealized +20.9%

EIX EDISON INTL 1.3%

Value $2.703M Shares 36,930 Est. Cost $57.33 Unrealized +12.7%

VOO VANGUARD INDEX FDS 4.4%

Value $8.798M Shares 14,724 Est. Cost $323.39 Unrealized —

HWBK HAWTHORN BANCSHARES INC 5.7%

Value $11.54M Shares 342,390 Est. Cost $20.83 Unrealized +61.9%

CBNK CAPITAL BANCORP INC MD 3.4%

Value $6.878M Shares 231,256 Est. Cost $20.37 Unrealized +48.8%

PEBO PEOPLES BANCORP INC 1.5%

Value $2.935M Shares 89,292 Est. Cost $29.71 Unrealized +8.9%

ARBV AMERICAN RIVIERA BANCORP 4.5%

Value $8.985M Shares 380,700 Est. Cost $20.99 Unrealized +18.9%

IBCP INDEPENDENT BK CORP MICH 2.3%

Value $4.636M Shares 139,223 Est. Cost $31.79 Unrealized +9.5%

IWN ISHARES TR 0.6%

Value $1.266M Shares 6,678 Est. Cost $166.82 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BBT	BEACON FINANCIAL CORP.	511,288	$15.34M	7.6%	$24.85	+16.3%	COM	084680107
QQQ	INVESCO QQQ TR	15,839	$9.142M	4.5%	$437.02	—	UNIT SER 1	46090E103
FVCB	FVCBANKCORP INC	436,748	$6.634M	3.3%	$12.43	+20.9%	COM	36120Q101
EIX	EDISON INTL	36,930	$2.703M	1.3%	$57.33	+12.7%	COM	281020107
VOO	VANGUARD INDEX FDS	14,724	$8.798M	4.4%	$323.39	—	S&P 500 ETF SHS	922908363
HWBK	HAWTHORN BANCSHARES INC	342,390	$11.54M	5.7%	$20.83	+61.9%	COM	420476103
CBNK	CAPITAL BANCORP INC MD	231,256	$6.878M	3.4%	$20.37	+48.8%	COM	139737100
PEBO	PEOPLES BANCORP INC	89,292	$2.935M	1.5%	$29.71	+8.9%	COM	709789101
ARBV	AMERICAN RIVIERA BANCORP	380,700	$8.985M	4.5%	$20.99	+18.9%	COM	02933K103
IBCP	INDEPENDENT BK CORP MICH	139,223	$4.636M	2.3%	$31.79	+9.5%	COM NEW	453838609
IWN	ISHARES TR	6,678	$1.266M	0.6%	$166.82	—	RUS 2000 VAL ETF	464287630