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
Alpine Banks of Colorado Equity 020810107 75 15 SH   SOLE   15 0 0
American River Bankshares Equity 029326105 2,773 205,236 SH   SOLE   205,236 0 0
Avidbank Holdings Inc Equity 05368J103 2,147 90,006 SH   SOLE   90,006 0 0
Bay Banks of Virginia Inc Equity 072035108 2,975 362,744 SH   SOLE   362,744 0 0
Baker Boyer Bancorp Equity 057124109 503 7,318 SH   SOLE   7,318 0 0
Bank of Southern California NA Equity 065104101 3,383 275,000 SH   SOLE   275,000 0 0
Bank of Fincastle/The Equity 062113105 1,231 486,486 SH   SOLE   486,486 0 0
Blue Ridge Bankshares Inc Equity 095825105 4,790 241,120 SH   SOLE   241,120 0 0
Ballston Spa Bancorp Inc Equity 058701103 378 6,864 SH   SOLE   6,864 0 0
Bank of Southside Virginia Cor Equity 065121105 12 40 SH   SOLE   40 0 0
Beach Community Bank Equity 07332N103 3,000 600,000 SH   SOLE   600,000 0 0
Bankwell Financial Group Inc Equity 06654A103 3,652 132,795 SH   SOLE   132,795 0 0
Boyle Bancorp Inc Equity 103442109 1,211 16,150 SH   SOLE   16,150 0 0
California Bancorp Inc Equity 13005U101 2,447 131,074 SH   SOLE   131,074 0 0
CalWest Bancorp Equity 13169Q102 973 2,552,500 SH   SOLE   2,552,500 0 0
Carolina Trust Bancshares Inc Equity 14422P105 0 0 SH   SOLE   0 0 0
Citba Financial Corp Equity 173024100 2,621 86,940 SH   SOLE   86,940 0 0
CBB Bancorp Inc Equity 12481T109 338 32,075 SH   SOLE   32,075 0 0
Comunibanc Corp Equity 205846108 1,478 48,238 SH   SOLE   48,238 0 0
Community Bank of the Bay Equity 203485107 3,913 559,000 SH   SOLE   559,000 0 0
Citizens Commerce Bancshares I Equity 17452P200 1,188 193,182 SH   SOLE   193,182 0 0
Coeur d'Alene Bancorp Inc Equity 192080109 198 22,000 SH   SOLE   22,000 0 0
Cecil Bancorp Inc Equity 149841306 551 367,501 SH   SOLE   367,501 0 0
Citizens Financial Group Inc Equity 174610105 4,071 115,100 SH   SOLE   115,100 0 0
Croghan Bancshares Inc Equity 227072105 318 6,005 SH   SOLE   6,005 0 0
CIB Marine Bancshares Inc Equity 12542L103 1,460 1,158,745 SH   SOLE   1,158,745 0 0
Comerica Inc Equity 200340107 6,120 92,735 SH   SOLE   92,735 0 0
CNB Community Bancorp Inc Equity 12618F105 420 11,200 SH   SOLE   11,200 0 0
CNB Bank Shares Inc Equity 18978K105 277 14,712 SH   SOLE   14,712 0 0
Canandaigua National Corp Equity 137143103 1,116 5,815 SH   SOLE   5,815 0 0
Chesapeake Financial Shares In Equity 16517A109 1,076 46,129 SH   SOLE   46,129 0 0
Cornerstone Community Bancorp Equity 21925R108 1,790 102,029 SH   SOLE   102,029 0 0
Cashmere Valley Bank Equity 14756K102 3,696 64,447 SH   SOLE   64,447 0 0
Central Valley Community Banco Equity 155685100 964 47,364 SH   SOLE   47,364 0 0
Community West Bancshares Equity 204157101 2,310 233,611 SH   SOLE   233,611 0 0
Crystal Valley Financial Corp Equity 22941P100 3,667 68,868 SH   SOLE   68,868 0 0
Citizens Bancorp/OR Equity 172950107 981 52,309 SH   SOLE   52,309 0 0
Delmar Bancorp Equity 247035207 1,293 177,060 SH   SOLE   177,060 0 0
Dacotah Banks Inc Equity 233422104 1,268 38,427 SH   SOLE   38,427 0 0
Delmarva Bancshares Inc Equity 247100100 2,897 366,662 SH   SOLE   366,662 0 0
Denver Bankshares Inc Equity 249082108 547 1,983 SH   SOLE   1,983 0 0
Embassy Bancorp Inc Equity 290791102 2,088 130,486 SH   SOLE   130,486 0 0
Exchange Bank/Santa Rosa CA Equity 301227203 13,236 84,306 SH   SOLE   84,306 0 0
First Bankers Trustshares Inc Equity 31929F109 4,475 146,250 SH   SOLE   146,250 0 0
Farmers Bankshares Inc Equity 309479103 1,464 85,070 SH   SOLE   85,070 0 0
1st Constitution Bancorp Equity 31986N102 2,445 130,410 SH   SOLE   130,410 0 0
First Citizens BancShares Inc/ Equity 31946M103 0 0 SH   SOLE   0 0 0
First Citizens BancShares Inc/ Equity 31946M202 11,297 28,455 SH   SOLE   28,455 0 0
1st Colonial Bancorp Inc Equity 319716106 1,068 103,731 SH   SOLE   103,731 0 0
Fentura Financial Inc Equity 314645102 2,806 136,364 SH   SOLE   136,364 0 0
FFD Financial Corp Equity 30243C107 1,163 20,050 SH   SOLE   20,050 0 0
Foresight Financial Group Inc Equity 345526107 4,919 139,757 SH   SOLE   139,757 0 0
First National of Nebraska Inc Equity 335720108 12,231 1,211 SH   SOLE   1,211 0 0
1st Capital Bank Equity 31944C107 226 14,172 SH   SOLE   14,172 0 0
First Mid Bancshares Inc Equity 320866106 4,566 131,900 SH   SOLE   131,900 0 0
Farmers & Merchants Bank of Lo Equity 308243104 6,150 776 SH   SOLE   776 0 0
Farmers & Merchants Bancshares Equity 308856103 2,618 85,793 SH   SOLE   85,793 0 0
First Northern Community Banco Equity 335925103 2,065 186,919 SH   SOLE   186,919 0 0
First Ottawa Bancshares Inc Equity 335876108 20 297 SH   SOLE   297 0 0
First Reliance Bancshares Inc Equity 33615Q100 2,897 381,677 SH   SOLE   381,677 0 0
First National Corp/VA Equity 32106V107 5,225 284,751 SH   SOLE   284,751 0 0
Grand River Commerce Inc Equity 386441109 1,325 212,727 SH   SOLE   212,727 0 0
Heritage Bancorporation Inc Equity 42720R101 0 0 SH   SOLE   0 0 0
Highlands Bankshares Inc/WV Equity 43088W104 1,110 27,669 SH   SOLE   27,669 0 0
Heartland BancCorp Equity 421962101 3,763 45,551 SH   SOLE   45,551 0 0
Highlands Bankshares Inc/VA Equity 430893107 2,327 275,662 SH   SOLE   275,662 0 0
Heritage Southeast Bancorporat Equity 42727V105 3,335 155,105 SH   SOLE   155,105 0 0
Heritage Commerce Corp Equity 426927109 2,425 206,324 SH   SOLE   206,324 0 0
County Bancorp Inc Equity 221907108 0 15 SH   SOLE   15 0 0
Iowa First Bancshares Corp Equity 46246F202 2,843 68,180 SH   SOLE   68,180 0 0
Lakeland Bancorp Inc Equity 511637100 0 0 SH   SOLE   0 0 0
Ledyard Financial Group Inc Equity 523338101 2,004 97,278 SH   SOLE   97,278 0 0
Lighthouse Bank Equity 53223T106 823 31,652 SH   SOLE   31,652 0 0
Middlefield Banc Corp Equity 596304204 4,828 103,174 SH   SOLE   103,174 0 0
Mountain Commerce Bancorp Inc Equity 624004107 635 33,197 SH   SOLE   33,197 0 0
Middlebury National Corp Equity 596237107 657 17,883 SH   SOLE   17,883 0 0
Merchants Financial Group Inc Equity 588538108 6,416 87,895 SH   SOLE   87,895 0 0
Marquette National Corp Equity 571599109 2,987 95,725 SH   SOLE   95,725 0 0
MNB Corp Equity 553104100 1,420 42,087 SH   SOLE   42,087 0 0
Mission Bancorp/Bakersfield CA Equity 605015106 7,557 86,857 SH   SOLE   86,857 0 0
North Dallas Bank & Trust Co Equity 659012108 1,976 24,580 SH   SOLE   24,580 0 0
Northway Financial Inc Equity 667270201 492 15,780 SH   SOLE   15,780 0 0
Orange County Bancorp Inc Equity 68417L107 300 10,800 SH   SOLE   10,800 0 0
Oregon Pacific Bancorp Equity 686040205 3,822 676,412 SH   SOLE   676,412 0 0
Oak Valley Bancorp Equity 671807105 4,749 283,176 SH   SOLE   283,176 0 0
Oxford Bank Corp/MI Equity 69140P100 2,689 133,788 SH   SOLE   133,788 0 0
Pinnacle Bank/Gilroy CA Equity 72346K107 1,383 120,066 SH   SOLE   120,066 0 0
Presidio Bank Equity 74101A100 998 34,225 SH   SOLE   34,225 0 0
Peapack Gladstone Financial Co Equity 704699107 4,294 153,209 SH   SOLE   153,209 0 0
Plumas Bancorp Equity 729273102 7,021 347,747 SH   SOLE   347,747 0 0
Prime Meridian Holding Co Equity 74164R107 1,824 90,700 SH   SOLE   90,700 0 0
PSB Holding Corp Equity 69362L100 1,658 59,855 SH   SOLE   59,855 0 0
Redwood Financial Inc Equity 757903109 1,205 12,007 SH   SOLE   12,007 0 0
Regions Financial Corp Equity 7591EP100 7,331 463,383 SH   SOLE   463,383 0 0
Riverview Financial Corp Equity 76940Q105 1,187 101,587 SH   SOLE   101,587 0 0
Red River Bancshares Inc Equity 75686R202 1,482 34,173 SH   SOLE   34,173 0 0
Redwood Capital Bancorp Equity 75777X100 2,881 174,478 SH   SOLE   174,478 0 0
South Atlantic Bancshares Inc Equity 83636T104 3,534 284,507 SH   SOLE   284,507 0 0
State Bank Corp Equity 856121108 1,466 91,494 SH   SOLE   91,494 0 0
Southern BancShares NC Inc Equity 842243107 9,447 2,543 SH   SOLE   2,543 0 0
SouthCrest Financial Group Inc Equity 84129X107 2,850 333,317 SH   SOLE   333,317 0 0
Security Bancorp Inc/TN Equity 81377P109 939 15,914 SH   SOLE   15,914 0 0
Santa Cruz County Bank Equity 801827106 3,715 74,302 SH   SOLE   74,302 0 0
Southeastern Banking Corp Equity 84158P108 1,580 79,016 SH   SOLE   79,016 0 0
Security Federal Corp Equity 813903101 0 0 SH   SOLE   0 0 0
Star Financial Group Inc Equity 855121109 1,468 23,016 SH   SOLE   23,016 0 0
Shore Community Bank Equity 825112105 505 30,619 SH   SOLE   30,619 0 0
Summit Bancshares Inc/CA Equity 866010101 1,666 42,458 SH   SOLE   42,458 0 0
Southern Missouri Bancorp Inc Equity 843380106 2,382 65,394 SH   SOLE   65,394 0 0
Security National Corp/IA Equity 814784104 3,780 30,116 SH   SOLE   30,116 0 0
Synovus Financial Corp Equity 87161C501 4,649 130,000 SH   SOLE   130,000 0 0
Solvay Bank Equity 83441Q105 2,475 68,544 SH   SOLE   68,544 0 0
Surrey Bancorp Equity 86888W105 1,395 98,456 SH   SOLE   98,456 0 0
Spirit of Texas Bancshares Inc Equity 84861D103 0 0 SH   SOLE   0 0 0
Community Financial Corp/The Equity 20368X101 1,986 59,347 SH   SOLE   59,347 0 0
Tri City Bankshares Corp Equity 895364107 1,232 61,622 SH   SOLE   61,622 0 0
Timberland Bancorp Inc/WA Equity 887098101 7,780 282,919 SH   SOLE   282,919 0 0
Town & Country Financial Corp Equity 892039108 1,467 71,086 SH   SOLE   71,086 0 0
Tri-County Financial Group Inc Equity 89546P108 2,155 53,281 SH   SOLE   53,281 0 0
United Bancorporation of Alaba Equity 90944R100 2,179 108,471 SH   SOLE   108,471 0 0
United Tennessee Bankshares In Equity 91307P202 983 44,463 SH   SOLE   44,463 0 0
Valley National Bancorp Equity 919794107 3,313 304,811 SH   SOLE   304,811 0 0
Wayne Savings Bancshares Inc Equity 94624Q101 519 24,604 SH   SOLE   24,604 0 0
Woodlands Financial Services C Equity 979685104 2,031 66,474 SH   SOLE   66,474 0 0
Wellesley Bank Equity 949485106 1,321 42,328 SH   SOLE   42,328 0 0
1867 Western Financial Corp Equity 282518109 504 63 SH   SOLE   63 0 0
West Suburban Bancorp Inc Equity 956152409 4,564 7,697 SH   SOLE   7,697 0 0
WTB Financial Corp Equity 929334209 6,227 17,641 SH   SOLE   17,641 0 0
York Traditions Bank Equity 987159100 3,644 209,048 SH   SOLE   209,048 0 0
Zions Bancorp NA Equity 989701107 6,144 138,000 SH   SOLE   138,000 0 0
ZIONS BANCORP NA Warrant 989701115 650 55,000 SH   SOLE   55,000 0 0