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
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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
Ameris Bancorp Jul 19 2019 35 call 03076K908 120 311 PRN Call SOLE   0 0 0
Ameris Bancorp Oct 18 2019 35 call 03076K908 93 170 PRN Call SOLE   0 0 0
Ameris Bancorp common 03076K108 7,332 187,100 SH   SOLE   0 0 0
Banc of California common 05990K106 5,299 379,300 SH   SOLE   0 0 0
Banc of California Inc Jul 19 2019 17 call 05990K906 24 1,600 PRN Call SOLE   0 0 0
Bank of Commerce Holdings common 06424J103 3,093 289,321 SH   SOLE   0 0 0
Bank of Fincastle common 062113105 1,216 486,486 SH   SOLE   0 0 0
Cadence Bancorporation CL A, Dec 20 2019 17.50 call 12739A900 47 120 PRN Call SOLE   0 0 0
Cadence Bancorporation CL A common 12739A100 4,940 237,500 SH   SOLE   0 0 0
CalWest Bancorp common 13169Q102 1,142 2,883,000 SH   SOLE   0 0 0
Cecil Bancorp, Inc. common 149841306 1,470 367,500 SH   SOLE   0 0 0
Citizens Commerce Bancshares, Inc. common 17452P101 1,216 193,746 SH   SOLE   0 0 0
Columbia Bkg Sys Inc common 197236102 1,556 43,014 SH   SOLE   0 0 0
Cullen Frost Bankers Inc common 229899109 937 10,000 SH   SOLE   0 0 0
Evans Bancorp Inc common 29911Q208 4,611 122,201 SH   SOLE   0 0 0
First Bancorp NC common 318910106 5,099 140,000 SH   SOLE   0 0 0
First Bancshares Inc MS common 318916103 8,131 268,000 SH   SOLE   0 0 0
First Busey Corp common 319383204 3,831 145,062 SH   SOLE   0 0 0
First Intst Bancsystem CL A common 32055Y201 4,088 103,199 SH   SOLE   0 0 0
First Midwest Bancorp DEL Nov 15 2019 17.50 call 320867904 27 80 PRN Call SOLE   0 0 0
First Midwest Bancorp DEL common 320867104 2,996 146,349 SH   SOLE   0 0 0
Franklin Financial Network common 35352P104 3,483 125,000 SH   SOLE   0 0 0
Grandsouth Bancorporation common 386627301 5,328 339,346 SH   SOLE   0 0 0
Heritage Commerce Corp common 426927109 2,511 205,000 SH   SOLE   0 0 0
Home Bancshares, Inc. common 436893200 1,366 70,916 SH   SOLE   0 0 0
Hope Bancorp Inc common 43940T109 747 54,238 SH   SOLE   0 0 0
Invesco Exchange Traded Sr Ln ETF Jul 19 2019 22 put 46138G958 6 2,500 PRN Put SOLE   0 0 0
Invesco Exchange Traded Sr Ln ETF Oct 18 2019 22 put 46138G958 4 200 PRN Put SOLE   0 0 0
Ishares Trust IBOXX HI YD ETF Sep 20 2019 82 put 464288953 21 805 PRN Put SOLE   0 0 0
Lakeland Bancorp Inc common 511637100 1,408 87,162 SH   SOLE   0 0 0
MainStreet Bancshares Inc common 56064Y100 5,997 263,158 SH   SOLE   0 0 0
McHenry Bancorp, Inc. common 580683100 1,665 15,000,000 SH   SOLE   0 0 0
Metro Phoenix Bank common 59165E106 2,270 176,667 SH   SOLE   0 0 0
Old Natl Bancorp IND common 680033107 3,650 220,000 SH   SOLE   0 0 0
OP Bancorp common 67109R109 3,643 336,080 SH   SOLE   0 0 0
Oregon Pacific Bancorp common 686040205 1,864 323,534 SH   SOLE   0 0 0
Pacific Premier Bancorp common 69478X105 7,257 235,000 SH   SOLE   0 0 0
Pacific West Bank common 69506W202 2,239 152,857 SH   SOLE   0 0 0
Pacwest Bancorp DEL common 695263103 5,126 132,000 SH   SOLE   0 0 0
Pioneer Bancshares, Inc. common 72357G102 2,541 95,000 SH   SOLE   0 0 0
Preferred BK Los Angeles CA common 740367404 520 11,000 SH   SOLE   0 0 0
Prime Meridian Holding Company common 74164R107 1,299 63,375 SH   SOLE   0 0 0
SB Financial Group Inc. common 78408D105 3,410 207,144 SH   SOLE   0 0 0
Select Bancorp Inc common 81617L108 4,877 426,300 SH   SOLE   0 0 0
Severn Bancorp Annapolis MD common 81811M100 1,112 127,930 SH   SOLE   0 0 0
SVB Financial Group common 78486Q101 9,298 41,400 SH   SOLE   0 0 0
Synovus Financial Corp common 87161C501 5,399 154,250 SH   SOLE   0 0 0
Synovus Financial Corp Aug 16 2019 38 call 87161C901 7 210 PRN Call SOLE   0 0 0
Synovus Financial Corp Nov 15 2019 34 call 87161C901 35 122 PRN Call SOLE   0 0 0
Texas Capital Bancshares Inc common 88224Q107 61 1,000 SH   SOLE   0 0 0
Triumph Bancorp Inc common 89679E300 1,453 50,000 SH   SOLE   0 0 0
United Bancorporation Ala CL A common 90944R100 4,070 200,000 SH   SOLE   0 0 0
US Metro Bank common 90343B102 2,757 759,573 SH   SOLE   0 0 0
Veritex Holdings Inc common 923451108 1,435 55,300 SH   SOLE   0 0 0
Webster Financial Corp Conn common 947890109 717 15,000 SH   SOLE   0 0 0
Western Alliance Bancorp common 957638109 3,148 70,400 SH   SOLE   0 0 0
Western Alliance Bancorp Dec 20 2019 35 call 957638909 74 70 PRN Call SOLE   0 0 0