JACOBS ASSET MANAGEMENT, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CBK	COMMERCIAL BANCGROUP INC	320,000	$7,859	4.4%	$24.55	0.0%	COM	20112C106
SFBS	SERVISFIRST BANCSHARES INC	100,000	$7,179	4.0%	$72.99	0.0%	COM	81768T108
CBC	CENTRAL BANCOMPANY	110,000	$2,653	1.5%	$23.43	0.0%	COM CL A	152413100
HTBK	HERITAGE COMM CORP	200,000	$2,402	1.3%	$10.85	0.0%	COM	426927109
GDOT	GREEN DOT CORP	104,536	$1,339	0.7%	$12.42	0.0%	CL A	39304D102
UWMC	UWM HOLDINGS CORPORATION	259,000	$1,134	0.6%	$5.38	0.0%	COM CL A	91823B109
CVBF	CVB FINL CORP	54,529	$1,014	0.6%	$18.94	0.0%	COM	126600105
TFIN	TRIUMPH FINANCIAL INC	11,497	$720	0.4%	$56.02	0.0%	COM	89679E300

Increased Positions (8)

QNST QUINSTREET INC 7.5%

Value ($000) $13,400 (+33.5%) Shares 932,500 (+43.7%) Est. Cost $14.57 Unrealized -1.0%

CCB COASTAL FINL CORP WA 5.6%

Value ($000) $10,135 (+24.9%) Shares 88,449 (+17.9%) Est. Cost $57.83 Unrealized +88.7%

PBBK PB BANKSHARES INC 2.4%

Value ($000) $4,319 (+40.2%) Shares 204,218 (+27.2%) Est. Cost $19.21 Unrealized +6.6%

TCBK TRICO BANCSHARES 1.8%

Value ($000) $3,197 (+30.9%) Shares 67,500 (+22.7%) Est. Cost $43.93 Unrealized +4.5%

AOMR ANGEL OAK MORTGAGE REIT INC 1.4%

Value ($000) $2,475 (+32.1%) Shares 287,500 (+43.8%) Est. Cost $9.29 Unrealized —

COFS CHOICEONE FINL SVCS INC 2.7%

Value ($000) $4,838 (+11.5%) Shares 163,897 (+9.4%) Est. Cost $29.38 Unrealized -0.1%

NBHC NATIONAL BK HLDGS CORP 3.9%

Value ($000) $7,032 (+7.0%) Shares 185,000 (+8.8%) Est. Cost $38.19 Unrealized -1.9%

NPB NORTHPOINTE BANCSHARES INC. 4.4%

Value ($000) $7,971 (+0.9%) Shares 475,000 (+2.7%) Est. Cost $14.38 Unrealized +17.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
QNST	QUINSTREET INC	932,500 (+43.7%)	$13,400 (+33.5%)	7.5%	$14.57	-1.0%	COM	74874Q100
CCB	COASTAL FINL CORP WA	88,449 (+17.9%)	$10,135 (+24.9%)	5.6%	$57.83	+88.7%	COM NEW	19046P209
PBBK	PB BANKSHARES INC	204,218 (+27.2%)	$4,319 (+40.2%)	2.4%	$19.21	+6.6%	COM	69318V103
TCBK	TRICO BANCSHARES	67,500 (+22.7%)	$3,197 (+30.9%)	1.8%	$43.93	+4.5%	COM	896095106
AOMR	ANGEL OAK MORTGAGE REIT INC	287,500 (+43.8%)	$2,475 (+32.1%)	1.4%	$9.29	—	COM	03464Y108
COFS	CHOICEONE FINL SVCS INC	163,897 (+9.4%)	$4,838 (+11.5%)	2.7%	$29.38	-0.1%	COM	170386106
NBHC	NATIONAL BK HLDGS CORP	185,000 (+8.8%)	$7,032 (+7.0%)	3.9%	$38.19	-1.9%	CL A	633707104
NPB	NORTHPOINTE BANCSHARES INC.	475,000 (+2.7%)	$7,971 (+0.9%)	4.4%	$14.38	+17.7%	COM SHS	66661N886

Exited Positions (8)

SFNC SIMMONS 1ST NATL CORP 3.7%

Value ($000) $6,710 Shares 350,000 Est. Cost $19.96 Unrealized -7.2%

MOFG MIDWESTONE FINL GROUP INC NE 2.5%

Value ($000) $4,436 Shares 156,787 Est. Cost $27.73 Unrealized +31.5%

CIVB CIVISTA BANCSHARES INC 2.3%

Value ($000) $4,062 Shares 200,000 Est. Cost $20.64 Unrealized +6.0%

CNCK COINCHECK GROUP NV 2.2%

Value ($000) $3,960 Shares 855,334 Est. Cost $5.07 Unrealized -22.4%

BBT BEACON FINANCIAL CORP. 2.2%

Value ($000) $3,863 Shares 162,931 Est. Cost $27.15 Unrealized -8.2%

PB PROSPERITY BANCSHARES INC 0.6%

Value ($000) $1,119 Shares 16,864 Est. Cost $67.67 Unrealized -1.0%

SBCF SEACOAST BKG CORP FLA 0.5%

Value ($000) $852 Shares 28,000 Est. Cost $24.71 Unrealized +26.1%

CNCKW COINCHECK GROUP NV 0.0%

Value ($000) $40 Shares 55,111 Est. Cost $0.72 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SFNC	SIMMONS 1ST NATL CORP	350,000	$6,710	3.7%	$19.96	-7.2%	—	828730200
MOFG	MIDWESTONE FINL GROUP INC NE	156,787	$4,436	2.5%	$27.73	+31.5%	—	598511103
CIVB	CIVISTA BANCSHARES INC	200,000	$4,062	2.3%	$20.64	+6.0%	—	178867107
CNCK	COINCHECK GROUP NV	855,334	$3,960	2.2%	$5.07	-22.4%	—	N20967118
BBT	BEACON FINANCIAL CORP.	162,931	$3,863	2.2%	$27.15	-8.2%	—	084680107
PB	PROSPERITY BANCSHARES INC	16,864	$1,119	0.6%	$67.67	-1.0%	—	743606105
SBCF	SEACOAST BKG CORP FLA	28,000	$852	0.5%	$24.71	+26.1%	—	811707801
CNCKW	COINCHECK GROUP NV	55,111	$40	0.0%	$0.72	—	—	N20967100

Decreased Positions (13)

BPOP POPULAR INC 3.5%

Value ($000) $6,226 (-48.5%) Shares 50,000 (-47.5%) Est. Cost $56.46 Unrealized +108.4%

FBK FB FINL CORP 1.6%

Value ($000) $2,790 (-49.9%) Shares 50,000 (-50.0%) Est. Cost $42.92 Unrealized +29.6%

OSBC OLD SECOND BANCORP INC ILL 3.1%

Value ($000) $5,489 (-33.6%) Shares 281,477 (-41.1%) Est. Cost $14.83 Unrealized +25.4%

GOLD GOLD COM INC 5.7%

Value ($000) $10,215 (+24.4%) Shares 300,000 (-5.5%) Est. Cost $27.09 Unrealized +5.4%

EVER EVERQUOTE INC 2.0%

Value ($000) $3,631 (-18.8%) Shares 134,481 (-31.2%) Est. Cost $15.35 Unrealized +57.9%

BRBS BLUE RIDGE BANKSHARES INC VA 0.7%

Value ($000) $1,227 (-28.8%) Shares 287,378 (-29.5%) Est. Cost $2.82 Unrealized +50.2%

SII SPROTT INC 9.0%

Value ($000) $16,203 (-2.6%) Shares 165,467 (-17.3%) Est. Cost $34.09 Unrealized +160.1%

OFG OFG BANCORP 1.8%

Value ($000) $3,251 (-10.9%) Shares 79,330 (-5.4%) Est. Cost $26.91 Unrealized +52.1%

QCRH QCR HOLDINGS INC 5.1%

Value ($000) $9,138 (-3.4%) Shares 109,694 (-12.2%) Est. Cost $45.50 Unrealized +72.9%

MAX MEDIAALPHA INC 5.1%

Value ($000) $9,134 (-2.0%) Shares 705,299 (-13.9%) Est. Cost $12.29 Unrealized -0.7%

AVBH AVIDBANK HLDGS INC 2.0%

Value ($000) $3,586 (-3.8%) Shares 135,000 (-7.6%) Est. Cost $23.63 Unrealized +9.8%

HBNC HORIZON BANCORP INC 2.5%

Value ($000) $4,494 (+2.1%) Shares 265,000 (-3.6%) Est. Cost $16.02 Unrealized +3.4%

MYFW FIRST WESTN FINL INC 4.0%

Value ($000) $7,178 (-1.0%) Shares 267,740 (-15.0%) Est. Cost $18.21 Unrealized +30.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BPOP	POPULAR INC	50,000 (-47.5%)	$6,226 (-48.5%)	3.5%	$56.46	+108.4%	COM NEW	733174700
FBK	FB FINL CORP	50,000 (-50.0%)	$2,790 (-49.9%)	1.6%	$42.92	+29.6%	COM	30257X104
OSBC	OLD SECOND BANCORP INC ILL	281,477 (-41.1%)	$5,489 (-33.6%)	3.1%	$14.83	+25.4%	COM	680277100
GOLD	GOLD COM INC	300,000 (-5.5%)	$10,215 (+24.4%)	5.7%	$27.09	+5.4%	COM	00181T107
EVER	EVERQUOTE INC	134,481 (-31.2%)	$3,631 (-18.8%)	2.0%	$15.35	+57.9%	COM CL A	30041R108
BRBS	BLUE RIDGE BANKSHARES INC VA	287,378 (-29.5%)	$1,227 (-28.8%)	0.7%	$2.82	+50.2%	COM	095825105
SII	SPROTT INC	165,467 (-17.3%)	$16,203 (-2.6%)	9.0%	$34.09	+160.1%	COM NEW	852066208
OFG	OFG BANCORP	79,330 (-5.4%)	$3,251 (-10.9%)	1.8%	$26.91	+52.1%	COM	67103X102
QCRH	QCR HOLDINGS INC	109,694 (-12.2%)	$9,138 (-3.4%)	5.1%	$45.50	+72.9%	COM	74727A104
MAX	MEDIAALPHA INC	705,299 (-13.9%)	$9,134 (-2.0%)	5.1%	$12.29	-0.7%	CL A	58450V104
AVBH	AVIDBANK HLDGS INC	135,000 (-7.6%)	$3,586 (-3.8%)	2.0%	$23.63	+9.8%	COM	05368J103
HBNC	HORIZON BANCORP INC	265,000 (-3.6%)	$4,494 (+2.1%)	2.5%	$16.02	+3.4%	COM	440407104
MYFW	FIRST WESTN FINL INC	267,740 (-15.0%)	$7,178 (-1.0%)	4.0%	$18.21	+30.9%	COM	33751L105

Unchanged Positions (3)

FCNCA FIRST CTZNS BANCSHARES INC D 4.2%

Value ($000) $7,512 Shares 3,500 Est. Cost $1769.80 Unrealized +6.4%

ALL ALLSTATE CORP 5.6%

Value ($000) $10,095 Shares 48,500 Est. Cost $121.77 Unrealized +67.6%

PGR PROGRESSIVE CORP 1.0%

Value ($000) $1,708 Shares 7,500 Est. Cost $184.89 Unrealized +14.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FCNCA	FIRST CTZNS BANCSHARES INC D	3,500	$7,512	4.2%	$1769.80	+6.4%	CL A	31946M103
ALL	ALLSTATE CORP	48,500	$10,095	5.6%	$121.77	+67.6%	COM	020002101
PGR	PROGRESSIVE CORP	7,500	$1,708	1.0%	$184.89	+14.8%	COM	743315103