The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ABBVIE INC COM 00287y109 7,225 114,551 SH   SOLE   99,140 0 15,411
ALTRIA GROUP INC COM 02209s103 2,590 40,957 SH   SOLE   34,519 0 6,438
AMGEN INC COM 031162100 5,634 33,774 SH   SOLE   29,244 0 4,530
ANTHEM INC COM 036752103 1,964 15,675 SH   SOLE   13,493 0 2,182
APPLE INC COM 037833100 3,519 31,129 SH   SOLE   27,555 0 3,574
ARRIS INTL INC SHS g0551a103 234 8,267 SH   SOLE   6,203 0 2,064
AT&T INC COM 00206r102 5,456 134,362 SH   SOLE   116,193 0 18,169
BANK AMER CORP COM 060505104 2,720 173,814 SH   SOLE   148,656 0 25,158
BOEING CO COM 097023105 7,303 55,435 SH   SOLE   47,996 0 7,439
BP PLC SPONSORED ADR 055622104 6,229 177,152 SH   SOLE   153,167 0 23,985
CABOT CORP COM 127055101 252 4,806 SH   SOLE   3,644 0 1,162
CARNIVAL CORP UNIT 99/99/9999 143658300 3,532 72,340 SH   SOLE   63,120 0 9,220
CARRIAGE SVCS INC COM 143905107 230 9,713 SH   SOLE   7,450 0 2,263
CATHAY GEN BANCORP COM 149150104 616 20,010 SH   SOLE   20,010 0 0
CBS CORP NEW CL B 124857202 4,506 82,308 SH   SOLE   72,248 0 10,060
CISCO SYS INC COM 17275r102 4,594 144,838 SH   SOLE   125,650 0 19,188
CITIGROUP INC COM NEW 172967424 3,274 69,313 SH   SOLE   60,905 0 8,408
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 1,604 33,627 SH   SOLE   28,798 0 4,829
COMCAST CORP NEW CL A 20030n101 2,089 31,482 SH   SOLE   26,914 0 4,568
COMMUNITY HEALTH SYS INC NEW COM 203668108 1,076 93,240 SH   SOLE   82,027 0 11,213
CONNECTONE BANCORP INC NEW COM 20786w107 247 13,683 SH   SOLE   10,663 0 3,020
CUSTOMERS BANCORP INC COM 23204G100 334 13,281 SH   SOLE   10,259 0 3,022
CVS HEALTH CORP COM 126650100 3,493 39,250 SH   SOLE   34,864 0 4,386
DELPHI AUTOMOTIVE PLC SHS g27823106 5,056 70,885 SH   SOLE   62,478 0 8,407
DOMTAR CORP COM NEW 257559203 2,095 56,410 SH   SOLE   46,846 0 9,564
EAST WEST BANCORP INC COM 27579r104 211 5,737 SH   SOLE   4,417 0 1,320
ELECTRONICS FOR IMAGING INC COM 286082102 270 5,523 SH   SOLE   4,242 0 1,281
EXXON MOBIL CORP COM 30231g102 280 3,210 SH   SOLE   3,210 0 0
FEDEX CORP COM 31428x106 4,126 23,620 SH   SOLE   20,852 0 2,768
FIRST BUS FINL SVCS INC WIS COM 319390100 225 9,583 SH   SOLE   7,268 0 2,315
FIRST SOLAR INC COM 336433107 1,943 49,194 SH   SOLE   42,518 0 6,676
FORD MTR CO DEL COM PAR $0.01 345370860 5,929 491,251 SH   SOLE   424,404 0 66,847
GALLAGHER ARTHUR J & CO COM 363576109 3,667 72,089 SH   SOLE   62,480 0 9,609
GENERAL ELECTRIC CO COM 369604103 270 9,100 SH   SOLE   9,100 0 0
GENERAL MTRS CO COM 37045v100 3,835 120,719 SH   SOLE   104,740 0 15,979
GENTEX CORP COM 371901109 249 14,188 SH   SOLE   10,997 0 3,191
GENTHERM INC COM 37253a103 221 7,047 SH   SOLE   5,413 0 1,634
GILEAD SCIENCES INC COM 375558103 3,738 47,246 SH   SOLE   42,095 0 5,151
GLOBUS MED INC CL A 379577208 251 11,136 SH   SOLE   8,443 0 2,693
GOLDMAN SACHS GROUP INC COM 38141g104 2,180 13,517 SH   SOLE   11,937 0 1,580
HERITAGE COMMERCE CORP COM 426927109 243 22,236 SH   SOLE   17,253 0 4,983
HERITAGE FINL CORP WASH COM 42722x106 234 13,014 SH   SOLE   9,851 0 3,163
HOSPITALITY PPTYS TR COM SH BEN INT 44106m102 2,603 87,584 SH   SOLE   72,185 0 15,399
INTEL CORP COM 458140100 4,713 124,852 SH   SOLE   108,327 0 16,525
ISHARES TR IBOXX INV CP ETF 464287242 355 2,879 SH   SOLE   2,522 0 357
ISHARES TR U.S. PFD STK ETF 464288687 4,421 111,915 SH   SOLE   93,926 0 17,989
JABIL CIRCUIT INC COM 466313103 2,537 116,284 SH   SOLE   102,257 0 14,027
JOHNSON CTLS INTL PLC SHS g51502105 6,404 137,640 SH   SOLE   118,898 0 18,742
JPMORGAN CHASE & CO COM 46625h100 6,932 104,093 SH   SOLE   90,666 0 13,427
JUNIPER NETWORKS INC COM 48203r104 2,188 90,934 SH   SOLE   78,466 0 12,468
KEYCORP NEW COM 493267108 3,363 276,333 SH   SOLE   243,876 0 32,457
KOHLS CORP COM 500255104 3,163 72,295 SH   SOLE   60,492 0 11,803
KROGER CO COM 501044101 2,350 79,183 SH   SOLE   67,944 0 11,239
LAKELAND BANCORP INC COM 511637100 279 19,881 SH   SOLE   15,352 0 4,529
LANDEC CORP COM 514766104 194 14,456 SH   SOLE   10,851 0 3,605
MENTOR GRAPHICS CORP COM 587200106 210 7,951 SH   SOLE   5,977 0 1,974
METHODE ELECTRS INC COM 591520200 206 5,882 SH   SOLE   4,466 0 1,416
MICROSOFT CORP COM 594918104 4,680 81,257 SH   SOLE   70,482 0 10,775
MYLAN N V SHS EURO n59465109 1,920 50,364 SH   SOLE   42,988 0 7,376
NORWEGIAN CRUISE LINE HLDGS SHS g66721104 1,736 46,035 SH   SOLE   39,386 0 6,649
NXP SEMICONDUCTORS N V COM n6596x109 2,454 24,059 SH   SOLE   20,641 0 3,418
ORACLE CORP COM 68389x105 3,346 85,193 SH   SOLE   75,349 0 9,844
PFIZER INC COM 717081103 8,183 241,609 SH   SOLE   209,274 0 32,335
PHOTRONICS INC COM 719405102 208 20,145 SH   SOLE   15,490 0 4,655
PREFERRED BK LOS ANGELES CA COM NEW 740367404 248 6,948 SH   SOLE   5,505 0 1,443
PROCTER AND GAMBLE CO COM 742718109 4,965 55,317 SH   SOLE   47,728 0 7,589
PRUDENTIAL FINL INC COM 744320102 7,093 86,867 SH   SOLE   75,086 0 11,781
QUANTA SVCS INC COM 74762e102 225 8,054 SH   SOLE   6,184 0 1,870
REGIONS FINL CORP NEW COM 7591ep100 5,881 595,890 SH   SOLE   515,154 0 80,736
RLJ LODGING TR COM 74965L101 2,795 132,908 SH   SOLE   113,218 0 19,690
RYDER SYS INC COM 783549108 5,807 88,045 SH   SOLE   75,898 0 12,147
SERVICE CORP INTL COM 817565104 230 8,675 SH   SOLE   6,730 0 1,945
SIGNET JEWELERS LIMITED SHS g81276100 1,328 17,812 SH   SOLE   15,767 0 2,045
SKYWORKS SOLUTIONS INC COM 83088m102 1,841 24,179 SH   SOLE   20,727 0 3,452
SOUTHWEST AIRLS CO COM 844741108 2,510 64,552 SH   SOLE   55,522 0 9,030
SPDR S&P 500 ETF TR TR UNIT 78462f103 836 3,866 SH   SOLE   3,303 0 563
SPDR SERIES TRUST BRC HGH YLD BD 78464a417 3,747 102,045 SH   SOLE   86,440 0 15,605
STAPLES INC COM 855030102 3,160 369,565 SH   SOLE   317,775 0 51,790
STEELCASE INC CL A 858155203 1,212 87,262 SH   SOLE   78,114 0 9,148
TARGET CORP COM 87612e106 4,026 58,626 SH   SOLE   50,053 0 8,573
THOR INDS INC COM 885160101 238 2,806 SH   SOLE   2,224 0 582
UMPQUA HLDGS CORP COM 904214103 4,252 282,519 SH   SOLE   243,125 0 39,394
UNITED CMNTY BKS BLAIRSVLE G COM 90984p303 249 11,851 SH   SOLE   9,217 0 2,634
UNITED PARCEL SERVICE INC CL B 911312106 2,141 19,576 SH   SOLE   16,122 0 3,454
UNITEDHEALTH GROUP INC COM 91324p102 4,056 28,971 SH   SOLE   25,486 0 3,485
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206c870 668 7,454 SH   SOLE   6,251 0 1,203
WALGREENS BOOTS ALLIANCE INC COM 931427108 3,184 39,491 SH   SOLE   34,663 0 4,828
WELLS FARGO & CO NEW COM 949746101 4,850 109,531 SH   SOLE   94,596 0 14,935
WESTERN ALLIANCE BANCORP COM 957638109 272 7,258 SH   SOLE   5,446 0 1,812
WHIRLPOOL CORP COM 963320106 2,937 18,113 SH   SOLE   16,012 0 2,101