Q3 2023
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| FRBA | Buy | First Bank | $18,536 | +34.3% | 1,719,449 | +29.3% | 2.17% | +33.7% |
| OCBI | Sell | Orange County Bancorp | $16,050 | +2.0% | 371,791 | -12.6% | 1.88% | +1.5% |
| SCZC | Sell | West Coast Community Bancorp | $14,618 | -4.4% | 573,267 | -4.4% | 1.71% | -4.8% |
| Buy | Southern States Bancshares, Inc. | $12,778 | +19.7% | 565,643 | +11.8% | 1.50% | +19.2% | |
| SMBK | Sell | SmartFinancial, Inc. | $12,237 | -3.2% | 572,648 | -2.6% | 1.44% | -3.6% |
| LBAI | Sell | Lakeland Bancorp, Inc. | $10,213 | -10.5% | 809,306 | -5.0% | 1.20% | -10.9% |
| PBAM | Buy | Private Bancorp of America, Inc. | $9,561 | +19.0% | 301,230 | +1.4% | 1.12% | +18.4% |
| BSVN | Sell | Bank7 Corp | $8,644 | -8.5% | 384,000 | -0.3% | 1.01% | -8.8% |
| HBT | Sell | HBT Financial, Inc. | $7,390 | -35.9% | 405,138 | -35.1% | 0.87% | -36.1% |
| BY | Sell | Byline Bancorp, Inc. | $7,300 | -16.0% | 370,373 | -22.9% | 0.86% | -16.4% |
| Sell | American Riviera Bancorp | $6,152 | +0.9% | 380,946 | -5.0% | 0.72% | +0.4% | |
| SBNC | Sell | Southern BancShares (N.C.), Inc. | $5,761 | -18.1% | 1,087 | -16.5% | 0.68% | -18.4% |
| CSTR | Buy | CapStar Financial Holdings, Inc. | $5,583 | +16.1% | 393,481 | +0.4% | 0.66% | +15.7% |
| VBTX | Buy | Veritex Holdings, Inc. | $5,188 | +12.6% | 289,000 | +12.5% | 0.61% | +12.0% |
| CATC | Sell | Cambridge Bancorp | $5,166 | +7.4% | 82,928 | -6.3% | 0.61% | +7.1% |
| SHBI | Buy | Shore Bancshares, Inc. | $4,848 | +5.2% | 460,836 | +15.6% | 0.57% | +4.8% |
| MFGI | Sell | Merchants Financial Group, Inc. | $4,850 | -5.2% | 194,548 | -1.1% | 0.57% | -5.5% |
| BCAL | Sell | Southern California Bancorp | $4,847 | -15.9% | 346,000 | -17.6% | 0.57% | -16.3% |
| FVCB | Sell | First Virginia Community Bank | $4,617 | +12.0% | 360,421 | -5.9% | 0.54% | +11.3% |
| UBAB | Sell | United Bancorporation of Alabama, Inc. | $4,520 | -7.9% | 117,699 | -4.1% | 0.53% | -8.3% |
| TRBK | Buy | Traditions Bancorp, Inc. | $4,414 | +15.1% | 252,235 | +13.5% | 0.52% | +14.6% |
| Sell | First Reliance Bancshares, Inc. | $4,259 | +7.4% | 591,584 | -5.0% | 0.50% | +6.9% | |
| UBFO | Buy | United Security Bankshares | $4,198 | +81.9% | 564,227 | +62.8% | 0.49% | +80.9% |
| PBNK | Sell | Pinnacle Bank | $3,761 | +10.9% | 275,528 | -3.5% | 0.44% | +10.2% |
| FCCO | Sell | First Community Corporation | $3,631 | -6.9% | 210,269 | -6.4% | 0.43% | -7.2% |
| OVLY | Sell | Oak Valley Bancorp | $3,468 | -25.9% | 138,280 | -25.6% | 0.41% | -26.1% |
| CCNB | Buy | Coastal Carolina Bancshares, Inc. | $2,933 | +15.0% | 311,992 | +5.1% | 0.34% | +14.7% |
| NWYF | Sell | Northway Financial, Inc. | $2,682 | -10.6% | 155,038 | -1.9% | 0.32% | -10.8% |
| Sell | USCB Financial Holdings Inc. | $2,667 | -6.6% | 253,730 | -9.4% | 0.31% | -6.8% | |
| BLHK | Sell | Blueharbor Bank | $2,304 | -21.7% | 121,283 | -24.8% | 0.27% | -22.2% |
| FSBC | Sell | Five Star Bancorp | $2,279 | -20.5% | 113,600 | -11.4% | 0.27% | -21.0% |
| FBK | Sell | FB Financial Corp. | $1,667 | -11.4% | 58,789 | -12.4% | 0.20% | -12.2% |
| PEBO | Sell | Peoples Bancorp Inc. | $1,296 | -75.5% | 51,081 | -74.3% | 0.15% | -75.6% |
| CCBC | Sell | Chino Commercial Bancorp | $1,155 | -24.4% | 105,452 | -19.0% | 0.14% | -25.0% |
| FBMS | Sell | First Bancshares, Inc. | $1,043 | -51.0% | 38,677 | -53.0% | 0.12% | -51.4% |
| RVSB | Sell | Riverview Bancorp, Inc. | $880 | -32.6% | 158,344 | -38.9% | 0.10% | -33.1% |
| BOTJ | Sell | Bank of the James Financial Group, Inc. | $719 | -24.8% | 68,443 | -34.9% | 0.08% | -25.7% |
| New | Studio Bank | $689 | – | 74,074 | – | 0.08% | – | |
| VABK | Sell | Virginia National Bankshares Corp. | $662 | -10.7% | 21,808 | -5.3% | 0.08% | -10.3% |
| SBKO | Sell | Summit Bank Group, Inc. | $655 | -8.8% | 59,301 | -4.2% | 0.08% | -9.4% |
| VBFC | Sell | Village Bank and Trust Financial Corp. | $656 | +2.3% | 14,381 | -3.1% | 0.08% | +2.7% |
| QNBC | Sell | QNB Corp. | $642 | -51.6% | 27,637 | -52.1% | 0.08% | -51.9% |
| FCF | Sell | First Commonwealth | $594 | -63.6% | 48,625 | -62.3% | 0.07% | -63.5% |
| EFSI | Sell | Eagle Financial Services Inc. | $557 | -58.5% | 17,470 | -60.3% | 0.06% | -58.9% |
| PTBS | Sell | Potomac Bancshares, Inc. | $549 | -16.8% | 33,492 | -19.3% | 0.06% | -17.9% |
| FFMH | Sell | First Farmers and Merchants Corporation | $538 | -4.3% | 20,092 | -4.3% | 0.06% | -4.5% |
| SAL | Exit | Salisbury Bancorp, Inc. | $0 | – | -22,793 | – | -0.06% | – |
| TCFC | Exit | Community Financial Corporation | $0 | – | -26,732 | – | -0.08% | – |
| FRAF | Exit | Franklin Financial Services Corp. | $0 | – | -27,199 | – | -0.09% | – |
| STBK | Exit | Studio Bank | $0 | – | -74,074 | – | -0.10% | – |
| FRBK | Exit | Republic First Bancorp, Inc. | $0 | – | -1,003,081 | – | -0.11% | – |
| AMNB | Exit | American National Bankshares Inc. | $0 | – | -37,549 | – | -0.13% | – |
| MLVF | Exit | Malvern Bancorp, Inc. | $0 | – | -507,602 | – | -0.94% | – |
Q2 2023
Q4 2022
Q3 2022
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| OSBC | Sell | Old Second Bancorp, Inc. | $28,086,000 | -3.7% | 2,152,194 | -1.2% | 2.59% | -1.8% |
| AMBZ | Buy | American Business Bank | $24,231,000 | +0.2% | 610,363 | +0.8% | 2.23% | +2.2% |
| FNBT | Sell | FineMark Holdings, Inc. | $24,220,000 | -0.1% | 828,044 | -0.7% | 2.23% | +1.9% |
| LBAI | Sell | Lakeland Bancorp, Inc. | $22,545,000 | +8.5% | 1,408,192 | -0.9% | 2.08% | +10.6% |
| HBT | Sell | HBT Financial, Inc. | $20,946,000 | -2.0% | 1,154,053 | -3.5% | 1.93% | -0.1% |
| FRST | Buy | Primis Financial Corporation | $18,317,000 | -8.6% | 1,510,093 | +2.7% | 1.69% | -6.9% |
| SFST | Buy | Southern First Bancshares, Inc. | $17,795,000 | +17.2% | 427,153 | +22.6% | 1.64% | +19.5% |
| FRBA | Buy | First Bank | $16,127,000 | +1.0% | 1,179,721 | +3.3% | 1.49% | +3.0% |
| Sell | Mountain Commerce Bancorp | $15,300,000 | +2.6% | 544,095 | -1.5% | 1.41% | +4.6% | |
| MBWM | Buy | Mercantile Bank Corporation | $14,652,000 | -6.4% | 493,158 | +0.6% | 1.35% | -4.6% |
| AVBH | Buy | Avidbank Holdings, Inc. | $14,479,000 | +12.1% | 665,697 | +3.1% | 1.33% | +14.3% |
| BRBS | Sell | Blue Ridge Bankshares, Inc. | $14,329,000 | -17.5% | 1,127,414 | -0.5% | 1.32% | -15.9% |
| SCZC | Sell | Santa Cruz County Bank | $14,228,000 | -1.6% | 605,467 | -10.2% | 1.31% | +0.4% |
| Buy | Southern States Bancshares, Inc. | $13,789,000 | +37.4% | 506,022 | +13.4% | 1.27% | +40.0% | |
| CALB | Sell | California BanCorp | $13,653,000 | +2.2% | 675,203 | -2.6% | 1.26% | +4.2% |
| INBK | Buy | First Internet Bancorp | $12,950,000 | -6.8% | 382,467 | +1.3% | 1.19% | -5.0% |
| New | Alpine Banks of Colorado | $12,926,000 | – | 421,053 | – | 1.19% | – | |
| ALRS | Buy | Alerus Financial Corporation | $12,799,000 | +158.5% | 579,138 | +178.4% | 1.18% | +163.2% |
| MRBK | Sell | Meridian Bank | $12,261,000 | -6.4% | 420,344 | -2.8% | 1.13% | -4.6% |
| CBAN | Sell | Colony Bankcorp Inc. | $12,197,000 | -14.1% | 936,072 | -0.5% | 1.12% | -12.4% |
| CCNE | Buy | CNB Financial Corporation | $11,719,000 | +46.2% | 497,188 | +50.0% | 1.08% | +48.8% |
| BY | Sell | Byline Bancorp, Inc. | $11,521,000 | -20.5% | 568,923 | -6.6% | 1.06% | -19.0% |
| BANC | Sell | Banc of California, Inc. | $10,818,000 | -11.3% | 677,412 | -2.2% | 1.00% | -9.6% |
| CZWI | Sell | Citizens Community Bancorp, Inc. | $10,653,000 | -14.3% | 875,331 | -2.6% | 0.98% | -12.7% |
| EBTC | Sell | Enterprise Bancorp, Inc. | $9,402,000 | -8.4% | 314,357 | -1.4% | 0.87% | -6.6% |
| BCAL | Sell | Southern California Bancorp | $9,379,000 | -14.1% | 578,960 | -20.0% | 0.86% | -12.5% |
| MBIN | Buy | Merchants Bancorp | $9,058,000 | +32.5% | 392,627 | +30.2% | 0.83% | +35.0% |
| Sell | Centric Financial Corporation | $8,467,000 | +6.8% | 622,573 | -22.1% | 0.78% | +8.9% | |
| HTBK | Sell | Heritage Commerce Corp | $8,133,000 | -19.7% | 717,200 | -24.3% | 0.75% | -18.2% |
| BPRN | Buy | Bank of Princeton | $7,941,000 | +3.9% | 280,118 | +0.7% | 0.73% | +5.9% |
| LMST | Sell | Limestone Bancorp, Inc. | $7,803,000 | +6.0% | 397,710 | -0.5% | 0.72% | +8.1% |
| LNKB | Buy | LinkBancorp | $7,530,000 | +924.5% | 1,004,000 | +1170.9% | 0.69% | +951.5% |
| SHBI | Sell | Shore Bancshares, Inc. | $6,904,000 | -10.2% | 398,586 | -4.1% | 0.64% | -8.5% |
| MLVF | Sell | Malvern Bancorp, Inc. | $6,804,000 | -12.2% | 473,459 | -1.9% | 0.63% | -10.6% |
| SBNC | Sell | Southern BancShares (N.C.), Inc. | $6,661,000 | -26.0% | 1,445 | -23.7% | 0.61% | -24.5% |
| OBNK | Sell | Origin Bancorp Inc. | $6,391,000 | -27.6% | 166,142 | -27.0% | 0.59% | -26.2% |
| DCOM | Buy | Dime Community Bancshares, Inc | $6,377,000 | +32.1% | 217,777 | +33.8% | 0.59% | +34.6% |
| ABTX | Sell | Allegiance Bancshares, Inc. | $5,879,000 | -19.1% | 141,213 | -26.6% | 0.54% | -17.5% |
| FBMS | Buy | First Bancshares, Inc. | $5,830,000 | +245.6% | 195,169 | +230.9% | 0.54% | +253.3% |
| CBOBA | Sell | Bay Community Bancorp | $5,722,000 | -2.5% | 675,206 | -2.7% | 0.53% | -0.6% |
| Buy | Third Coast Bancshares | $5,235,000 | -15.2% | 305,981 | +8.6% | 0.48% | -13.6% | |
| RCBC | Sell | River City Bank | $4,994,000 | -12.8% | 21,617 | -5.7% | 0.46% | -11.2% |
| EQBK | Sell | Equity Bancshares, Inc. | $4,857,000 | -3.7% | 163,926 | -5.2% | 0.45% | -2.0% |
| OVLY | Sell | Oak Valley Bancorp | $4,824,000 | -5.6% | 269,960 | -9.1% | 0.44% | -3.9% |
| WTBFB | Sell | W.T.B. Financial Corporation | $4,801,000 | -7.4% | 13,957 | -8.5% | 0.44% | -5.8% |
| FGFH | Sell | Foresight Financial Group, Inc. | $4,597,000 | -6.0% | 147,098 | -8.7% | 0.42% | -4.3% |
| NWYF | Sell | Northway Financial, Inc. | $4,363,000 | -14.4% | 166,138 | -1.2% | 0.40% | -12.6% |
| CMHF | Buy | Community Heritage Financial Inc. | $4,276,000 | +211.7% | 206,558 | +220.0% | 0.39% | +217.7% |
| New | FirstSun Capital Bancorp | $4,065,000 | – | 132,197 | – | 0.37% | – | |
| CVLY | Sell | Codorus Valley Bancorp, Inc. | $4,053,000 | -20.8% | 215,121 | -5.4% | 0.37% | -19.3% |
| FBK | Sell | FB Financial Corp. | $3,782,000 | -31.9% | 98,978 | -30.1% | 0.35% | -30.7% |
| Sell | USCB Financial Holdings Inc. | $3,671,000 | -15.2% | 280,000 | -25.3% | 0.34% | -13.6% | |
| Buy | White River Bancshares Company | $3,622,000 | +9.6% | 45,650 | +5.2% | 0.33% | +11.7% | |
| Buy | Grand River Commerce, Inc. | $3,432,000 | +8.7% | 596,938 | +20.1% | 0.32% | +10.9% | |
| CCB | Sell | CCB Financial | $3,335,000 | -4.8% | 83,922 | -8.7% | 0.31% | -3.2% |
| SOUB | Buy | SouthPoint Bancshares, Inc. | $3,320,000 | +3.5% | 108,704 | +3.7% | 0.31% | +5.5% |
| FCOB | Sell | 1st Colonial Bancorp | $3,074,000 | +1.1% | 259,644 | -4.4% | 0.28% | +2.9% |
| Buy | CoastalSouth Bancshares, Inc. | $3,032,000 | -10.6% | 214,258 | +4.9% | 0.28% | -9.1% | |
| FVCB | Sell | First Virginia Community Bank | $2,920,000 | -9.5% | 152,310 | -11.2% | 0.27% | -7.9% |
| CCNB | Buy | Coastal Carolina Bancshares, Inc. | $2,897,000 | +11.2% | 291,992 | +15.9% | 0.27% | +13.6% |
| Sell | Two Rivers Financial Group, Inc. | $2,836,000 | -3.8% | 66,729 | -15.1% | 0.26% | -1.9% | |
| MVLY | Sell | Mission Valley Bancorp | $2,725,000 | -1.4% | 201,842 | -1.4% | 0.25% | +0.4% |
| PFLC | Sell | Pacific Financial Corporation | $2,719,000 | -46.3% | 260,905 | -47.2% | 0.25% | -45.4% |
| BOTJ | Buy | Bank of the James Financial Group, Inc. | $2,456,000 | +11.9% | 194,318 | +15.2% | 0.23% | +14.1% |
| CSHX | Sell | Cashmere Valley Bank | $2,393,000 | -26.3% | 48,787 | -18.5% | 0.22% | -25.2% |
| BWB | Sell | Bridgewater Bancshares, Inc. | $2,301,000 | -27.9% | 139,711 | -29.3% | 0.21% | -26.4% |
| MLGF | Buy | Malaga Financial Corporation | $2,160,000 | +6.2% | 93,700 | +4.0% | 0.20% | +8.2% |
| SAL | Buy | Salisbury Bancorp, Inc. | $2,077,000 | +103.0% | 86,672 | +100.0% | 0.19% | +107.6% |
| PACW | New | PacWest Bancorp | $1,966,000 | – | 87,000 | – | 0.18% | – |
| FCPB | Sell | First Capital Bancshares, Inc. | $1,859,000 | -3.4% | 232,396 | -3.4% | 0.17% | -1.7% |
| WBBW | Sell | Westbury Bancorp, Inc. | $1,783,000 | -9.8% | 63,231 | -5.7% | 0.16% | -8.4% |
| BCBP | Sell | BCB Bancorp, Inc. | $1,759,000 | -9.8% | 104,496 | -8.7% | 0.16% | -8.0% |
| FCIT | Sell | First Citrus Bancorporation, Inc. | $1,671,000 | -2.6% | 36,765 | -5.7% | 0.15% | -0.6% |
| RVSB | Buy | Riverview Bancorp, Inc. | $1,645,000 | +9.2% | 259,007 | +13.1% | 0.15% | +11.8% |
| CCBC | Sell | Chino Commercial Bancorp | $1,505,000 | -12.4% | 115,879 | -21.7% | 0.14% | -10.3% |
| GRRB | Sell | GrandSouth Bancorporation | $1,226,000 | -59.9% | 36,482 | -62.7% | 0.11% | -59.1% |
| FFMH | Buy | First Farmers and Merchants Corporation | $1,151,000 | +105.9% | 42,538 | +98.0% | 0.11% | +107.8% |
| Sell | Citizens Bancorp | $959,000 | -29.3% | 77,652 | -24.2% | 0.09% | -28.5% | |
| SBCF | Sell | Seacoast Banking Corporation of Florida | $858,000 | -48.5% | 28,395 | -43.7% | 0.08% | -47.3% |
| CYSM | Sell | Community Bancorp of Santa Maria | $674,000 | -38.5% | 65,100 | -38.8% | 0.06% | -37.4% |
| SPFI | Sell | South Plains Financial, Inc. | $494,000 | -83.7% | 17,919 | -85.7% | 0.05% | -83.2% |
| SFNC | Sell | Simmons First National Corp | $437,000 | -92.3% | 20,035 | -92.5% | 0.04% | -92.2% |
| AMFC | Sell | AMB Financial Corp. | $206,000 | -27.5% | 10,762 | -16.3% | 0.02% | -26.9% |
| UBFO | New | United Security Bankshares | $196,000 | – | 30,000 | – | 0.02% | – |
| PAYO | Sell | Payoneer Global Inc | $83,000 | -79.5% | 13,700 | -86.7% | 0.01% | -78.4% |
| NCBS | Sell | Nicolet Bankshares, Inc. | $74,000 | -81.7% | 1,056 | -81.1% | 0.01% | -81.1% |
| PCLB | Exit | Pinnacle Bancshares, Inc. | $0 | – | -2,500 | – | -0.01% | – |
| LFGP | Exit | Ledyard Financial Group, Inc. | $0 | – | -4,659 | – | -0.01% | – |
| EFSC | Exit | Enterprise Financial Services Corp | $0 | – | -4,384 | – | -0.02% | – |
| Exit | Voyager Digital | $0 | – | -417,315 | – | -0.02% | – | |
| Exit | Nuvei Corp | $0 | – | -5,500 | – | -0.02% | – | |
| SIVB | Exit | SVB Financial Group | $0 | – | -2,027 | – | -0.07% | – |
| SNV | Exit | Synovus Financial Corp. | $0 | – | -27,657 | – | -0.09% | – |
| ENVA | Exit | Enova International, Inc. | $0 | – | -35,514 | – | -0.09% | – |
| CYFL | Exit | Century Financial Corporation | $0 | – | -68,323 | – | -0.17% | – |
| Exit | Pioneer Bancshares, Inc | $0 | – | -97,000 | – | -0.26% | – | |
| Exit | Beach Bancorp, Inc. | $0 | – | -900,000 | – | -0.41% | – | |
| MPHX | Exit | MPB BHC, Inc. | $0 | – | -325,058 | – | -0.51% | – |
Q2 2022
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| OSBC | New | Old Second Bancorp, Inc. | $29,151,000 | – | 2,178,694 | – | 2.63% | – |
| FNBT | New | FineMark Holdings, Inc. | $24,235,000 | – | 834,244 | – | 2.19% | – |
| AMBZ | New | American Business Bank | $24,184,000 | – | 605,363 | – | 2.18% | – |
| FFWM | New | First Foundation Inc. | $23,850,000 | – | 1,164,567 | – | 2.16% | – |
| UNTY | New | Unity Bancorp, Inc. | $23,682,000 | – | 894,342 | – | 2.14% | – |
| PGC | New | Peapack-Gladstone Financial Corporation | $23,044,000 | – | 775,890 | – | 2.08% | – |
| HBT | New | HBT Financial, Inc. | $21,371,000 | – | 1,195,937 | – | 1.93% | – |
| CFB | New | CrossFirst Bankshares, Inc. | $20,992,000 | – | 1,590,289 | – | 1.90% | – |
| LBAI | New | Lakeland Bancorp, Inc. | $20,779,000 | – | 1,421,241 | – | 1.88% | – |
| TBK | New | Triumph Bancorp, Inc. | $20,734,000 | – | 331,418 | – | 1.87% | – |
| FRST | New | Primis Financial Corporation | $20,051,000 | – | 1,471,093 | – | 1.81% | – |
| MYFW | New | First Western Financial, Inc. | $19,805,000 | – | 728,386 | – | 1.79% | – |
| OCBI | New | Orange County Bancorp | $18,532,000 | – | 488,069 | – | 1.68% | – |
| FBIZ | New | First Business Financial Services | $17,883,000 | – | 573,371 | – | 1.62% | – |
| BRBS | New | Blue Ridge Bankshares, Inc. | $17,362,000 | – | 1,133,261 | – | 1.57% | – |
| SMBK | New | SmartFinancial, Inc. | $16,409,000 | – | 679,185 | – | 1.48% | – |
| FRBA | New | First Bank | $15,971,000 | – | 1,142,453 | – | 1.44% | – |
| MBWM | New | Mercantile Bank Corporation | $15,661,000 | – | 490,158 | – | 1.42% | – |
| SFST | New | Southern First Bancshares, Inc. | $15,183,000 | – | 348,324 | – | 1.37% | – |
| New | Mountain Commerce Bancorp | $14,909,000 | – | 552,195 | – | 1.35% | – | |
| BY | New | Byline Bancorp, Inc. | $14,492,000 | – | 608,923 | – | 1.31% | – |
| SCZC | New | Santa Cruz County Bank | $14,455,000 | – | 673,906 | – | 1.31% | – |
| CBAN | New | Colony Bankcorp Inc. | $14,201,000 | – | 941,072 | – | 1.28% | – |
| MNSB | New | MainStreet Bancshares, Inc. | $14,149,000 | – | 621,372 | – | 1.28% | – |
| INBK | New | First Internet Bancorp | $13,898,000 | – | 377,467 | – | 1.26% | – |
| CNOB | New | ConnectOne Bancorp, Inc. | $13,746,000 | – | 562,204 | – | 1.24% | – |
| CALB | New | California BanCorp | $13,358,000 | – | 693,203 | – | 1.21% | – |
| MRBK | New | Meridian Bank | $13,100,000 | – | 432,344 | – | 1.18% | – |
| AVBH | New | Avidbank Holdings, Inc. | $12,914,000 | – | 645,697 | – | 1.17% | – |
| TCBI | New | Texas Capital Bancshares, Inc. | $12,865,000 | – | 244,405 | – | 1.16% | – |
| MPB | New | Mid Penn Bank | $12,752,000 | – | 472,827 | – | 1.15% | – |
| ISTR | New | Investar Holding Corporation | $12,542,000 | – | 572,699 | – | 1.13% | – |
| CZWI | New | Citizens Community Bancorp, Inc. | $12,434,000 | – | 899,054 | – | 1.12% | – |
| BANC | New | Banc of California, Inc. | $12,200,000 | – | 692,412 | – | 1.10% | – |
| MCB | New | Metropolitan Bank Holding Corp. | $11,320,000 | – | 163,061 | – | 1.02% | – |
| BCAL | New | Southern California Bancorp | $10,922,000 | – | 723,760 | – | 0.99% | – |
| EBTC | New | Enterprise Bancorp, Inc. | $10,263,000 | – | 318,821 | – | 0.93% | – |
| HTBK | New | Heritage Commerce Corp | $10,134,000 | – | 947,954 | – | 0.92% | – |
| New | Southern States Bancshares, Inc. | $10,038,000 | – | 446,322 | – | 0.91% | – | |
| SBNC | New | Southern BancShares (N.C.), Inc. | $9,001,000 | – | 1,895 | – | 0.81% | – |
| CATC | New | Cambridge Bancorp | $8,975,000 | – | 108,528 | – | 0.81% | – |
| OBNK | New | Origin Bancorp Inc. | $8,829,000 | – | 227,542 | – | 0.80% | – |
| BSVN | New | Bank7 Corp | $8,793,000 | – | 385,000 | – | 0.80% | – |
| PBAM | New | Private Bancorp of America, Inc. | $8,668,000 | – | 299,097 | – | 0.78% | – |
| BWFG | New | Bankwell Financial Group, Inc. | $8,496,000 | – | 273,623 | – | 0.77% | – |
| MFGI | New | Merchants Financial Group, Inc. | $8,241,000 | – | 323,184 | – | 0.74% | – |
| CCNE | New | CNB Financial Corporation | $8,018,000 | – | 331,476 | – | 0.72% | – |
| New | Centric Financial Corporation | $7,927,000 | – | 799,073 | – | 0.72% | – | |
| MLVF | New | Malvern Bancorp, Inc. | $7,753,000 | – | 482,459 | – | 0.70% | – |
| SHBI | New | Shore Bancshares, Inc. | $7,688,000 | – | 415,586 | – | 0.70% | – |
| BPRN | New | Bank of Princeton | $7,640,000 | – | 278,218 | – | 0.69% | – |
| FNRN | New | First Northern Community Bancorp | $7,549,000 | – | 817,016 | – | 0.68% | – |
| PSBQ | New | PSB Holdings, Inc. | $7,461,000 | – | 317,506 | – | 0.67% | – |
| FETM | New | Fentura Financial, Inc. | $7,454,000 | – | 298,149 | – | 0.67% | – |
| FCCO | New | First Community Corporation | $7,442,000 | – | 388,211 | – | 0.67% | – |
| LMST | New | Limestone Bancorp, Inc. | $7,362,000 | – | 399,878 | – | 0.66% | – |
| ABTX | New | Allegiance Bancshares, Inc. | $7,268,000 | – | 192,475 | – | 0.66% | – |
| MBIN | New | Merchants Bancorp | $6,837,000 | – | 301,566 | – | 0.62% | – |
| New | First Reliance Bancshares, Inc. | $6,768,000 | – | 731,627 | – | 0.61% | – | |
| SABK | New | South Atlantic Bancshares, Inc. | $6,418,000 | – | 423,608 | – | 0.58% | – |
| New | American Riviera Bancorp | $6,296,000 | – | 351,724 | – | 0.57% | – | |
| New | Third Coast Bancshares | $6,171,000 | – | 281,774 | – | 0.56% | – | |
| PMHG | New | Prime Meridian Holding Company | $6,117,000 | – | 241,776 | – | 0.55% | – |
| CBOBA | New | Bay Community Bancorp | $5,866,000 | – | 694,206 | – | 0.53% | – |
| RCBC | New | River City Bank | $5,729,000 | – | 22,917 | – | 0.52% | – |
| SFNC | New | Simmons First National Corp | $5,708,000 | – | 268,494 | – | 0.52% | – |
| MPHX | New | MPB BHC, Inc. | $5,689,000 | – | 325,058 | – | 0.51% | – |
| FBK | New | FB Financial Corp. | $5,557,000 | – | 141,678 | – | 0.50% | – |
| WTBFB | New | W.T.B. Financial Corporation | $5,185,000 | – | 15,257 | – | 0.47% | – |
| FISB | New | 1st Capital Bancorp | $5,189,000 | – | 415,120 | – | 0.47% | – |
| CVLY | New | Codorus Valley Bancorp, Inc. | $5,117,000 | – | 227,321 | – | 0.46% | – |
| OVLY | New | Oak Valley Bancorp | $5,108,000 | – | 296,960 | – | 0.46% | – |
| NWYF | New | Northway Financial, Inc. | $5,095,000 | – | 168,138 | – | 0.46% | – |
| PFLC | New | Pacific Financial Corporation | $5,066,000 | – | 494,205 | – | 0.46% | – |
| EQBK | New | Equity Bancshares, Inc. | $5,043,000 | – | 172,926 | – | 0.46% | – |
| TRBK | New | Traditions Bancorp, Inc. | $5,000,000 | – | 222,235 | – | 0.45% | – |
| ALRS | New | Alerus Financial Corporation | $4,952,000 | – | 208,000 | – | 0.45% | – |
| FGFH | New | Foresight Financial Group, Inc. | $4,893,000 | – | 161,181 | – | 0.44% | – |
| BFST | New | Business First Bancshares, Inc. | $4,859,000 | – | 228,003 | – | 0.44% | – |
| DCOM | New | Dime Community Bancshares, Inc | $4,826,000 | – | 162,777 | – | 0.44% | – |
| New | Beach Bancorp, Inc. | $4,500,000 | – | 900,000 | – | 0.41% | – | |
| New | USCB Financial Holdings Inc. | $4,328,000 | – | 375,000 | – | 0.39% | – | |
| FXNC | New | First National Corporation | $4,072,000 | – | 223,120 | – | 0.37% | – |
| FSBC | New | Five Star Bancorp | $4,042,000 | – | 153,000 | – | 0.36% | – |
| ORPB | New | Oregon Pacific Bancorp | $4,032,000 | – | 606,386 | – | 0.36% | – |
| FRBK | New | Republic First Bancorp, Inc. | $3,822,000 | – | 1,003,081 | – | 0.34% | – |
| New | Hanover Bancorp Inc. | $3,781,000 | – | 185,000 | – | 0.34% | – | |
| UBAB | New | United Bancorporation of Alabama, Inc. | $3,648,000 | – | 137,700 | – | 0.33% | – |
| PBNK | New | Pinnacle Bank | $3,540,000 | – | 277,682 | – | 0.32% | – |
| CCB | New | CCB Financial | $3,504,000 | – | 91,922 | – | 0.32% | – |
| BSRR | New | Sierra Bancorp | $3,510,000 | – | 161,544 | – | 0.32% | – |
| QNBC | New | QNB Corp. | $3,479,000 | – | 126,526 | – | 0.31% | – |
| New | CoastalSouth Bancshares, Inc. | $3,393,000 | – | 204,249 | – | 0.31% | – | |
| SAMG | New | Silvercrest Asset Management Group Inc. | $3,336,000 | – | 203,286 | – | 0.30% | – |
| New | White River Bancshares Company | $3,304,000 | – | 43,413 | – | 0.30% | – | |
| CSHX | New | Cashmere Valley Bank | $3,249,000 | – | 59,887 | – | 0.29% | – |
| FVCB | New | First Virginia Community Bank | $3,228,000 | – | 171,436 | – | 0.29% | – |
| SOUB | New | SouthPoint Bancshares, Inc. | $3,209,000 | – | 104,826 | – | 0.29% | – |
| BWB | New | Bridgewater Bancshares, Inc. | $3,190,000 | – | 197,652 | – | 0.29% | – |
| TRCY | New | Tri City Bankshares Corporation | $3,167,000 | – | 172,141 | – | 0.29% | – |
| New | Grand River Commerce, Inc. | $3,156,000 | – | 496,938 | – | 0.28% | – | |
| SSBI | New | Summit State Bank | $3,148,000 | – | 206,850 | – | 0.28% | – |
| CBWA | New | Commencement Bancorp, Inc. | $3,122,000 | – | 272,860 | – | 0.28% | – |
| GRRB | New | GrandSouth Bancorporation | $3,054,000 | – | 97,885 | – | 0.28% | – |
| FCOB | New | 1st Colonial Bancorp | $3,040,000 | – | 271,644 | – | 0.28% | – |
| SPFI | New | South Plains Financial, Inc. | $3,025,000 | – | 125,319 | – | 0.27% | – |
| New | Two Rivers Financial Group, Inc. | $2,949,000 | – | 78,629 | – | 0.27% | – | |
| New | Pioneer Bancshares, Inc | $2,910,000 | – | 97,000 | – | 0.26% | – | |
| SBT | New | Sterling Bancorp, Inc. | $2,862,000 | – | 502,061 | – | 0.26% | – |
| MVLY | New | Mission Valley Bancorp | $2,763,000 | – | 204,642 | – | 0.25% | – |
| MVBF | New | MVB Financial Corp. | $2,667,000 | – | 85,733 | – | 0.24% | – |
| New | Professional Holding Corp. | $2,612,000 | – | 130,261 | – | 0.24% | – | |
| CCNB | New | Coastal Carolina Bancshares, Inc. | $2,606,000 | – | 251,992 | – | 0.24% | – |
| FRAF | New | Franklin Financial Services Corp. | $2,557,000 | – | 84,796 | – | 0.23% | – |
| New | Peoples Bancorp | $2,506,000 | – | 11,934 | – | 0.23% | – | |
| New | Pacific West Bank | $2,461,000 | – | 185,715 | – | 0.22% | – | |
| FHBI | New | BayFirst Financial Corp. | $2,325,000 | – | 133,593 | – | 0.21% | – |
| BLHK | New | Blueharbor Bank | $2,258,000 | – | 161,283 | – | 0.20% | – |
| BOTJ | New | Bank of the James Financial Group, Inc. | $2,194,000 | – | 168,741 | – | 0.20% | – |
| New | McHenry Bancorp, Inc. | $2,070,000 | – | 60,000 | – | 0.19% | – | |
| MLGF | New | Malaga Financial Corporation | $2,033,000 | – | 90,100 | – | 0.18% | – |
| WBBW | New | Westbury Bancorp, Inc. | $1,977,000 | – | 67,031 | – | 0.18% | – |
| BCBP | New | BCB Bancorp, Inc. | $1,950,000 | – | 114,496 | – | 0.18% | – |
| ESBS | New | ES Bancshares, Inc. | $1,945,000 | – | 374,045 | – | 0.18% | – |
| FCPB | New | First Capital Bancshares, Inc. | $1,925,000 | – | 240,600 | – | 0.17% | – |
| CYFL | New | Century Financial Corporation | $1,920,000 | – | 68,323 | – | 0.17% | – |
| New | First Southern Bank | $1,764,000 | – | 196,250 | – | 0.16% | – | |
| FCIT | New | First Citrus Bancorporation, Inc. | $1,716,000 | – | 39,001 | – | 0.16% | – |
| CCBC | New | Chino Commercial Bancorp | $1,718,000 | – | 148,079 | – | 0.16% | – |
| FBMS | New | First Bancshares, Inc. | $1,687,000 | – | 58,979 | – | 0.15% | – |
| SBCF | New | Seacoast Banking Corporation of Florida | $1,665,000 | – | 50,395 | – | 0.15% | – |
| EFSI | New | Eagle Financial Services Inc. | $1,652,000 | – | 46,620 | – | 0.15% | – |
| SBNY | New | Signature Bank | $1,649,000 | – | 9,200 | – | 0.15% | – |
| CFIC | New | Cornerstone Financial Corporation | $1,613,000 | – | 150,000 | – | 0.15% | – |
| PPBN | New | Pinnacle Bankshares Corporation | $1,548,000 | – | 70,393 | – | 0.14% | – |
| WEX | New | WEX Inc. | $1,549,000 | – | 9,955 | – | 0.14% | – |
| RVSB | New | Riverview Bancorp, Inc. | $1,507,000 | – | 229,007 | – | 0.14% | – |
| CNBW | New | CNB Corporation | $1,406,000 | – | 14,348 | – | 0.13% | – |
| VBTX | New | Veritex Holdings, Inc. | $1,404,000 | – | 48,000 | – | 0.13% | – |
| CMHF | New | Community Heritage Financial Inc. | $1,372,000 | – | 64,558 | – | 0.12% | – |
| BORT | New | Bank of Botetourt | $1,374,000 | – | 49,824 | – | 0.12% | – |
| New | Citizens Bancorp | $1,356,000 | – | 102,434 | – | 0.12% | – | |
| AMNB | New | American National Bankshares Inc. | $1,353,000 | – | 39,092 | – | 0.12% | – |
| VABK | New | Virginia National Bankshares Corp. | $1,239,000 | – | 39,357 | – | 0.11% | – |
| BKOR | New | Oak Ridge Financial Services, Inc. | $1,234,000 | – | 66,364 | – | 0.11% | – |
| CYSM | New | Community Bancorp of Santa Maria | $1,096,000 | – | 106,443 | – | 0.10% | – |
| CBNK | New | Capital Bancorp, Inc. | $1,066,000 | – | 49,122 | – | 0.10% | – |
| TBBK | New | The Bancorp, Inc. | $1,056,000 | – | 54,092 | – | 0.10% | – |
| VBFC | New | Village Bank and Trust Financial Corp. | $1,051,000 | – | 22,838 | – | 0.10% | – |
| CSTR | New | CapStar Financial Holdings, Inc. | $1,035,000 | – | 52,770 | – | 0.09% | – |
| ENVA | New | Enova International, Inc. | $1,024,000 | – | 35,514 | – | 0.09% | – |
| SAL | New | Salisbury Bancorp, Inc. | $1,023,000 | – | 43,336 | – | 0.09% | – |
| CYVF | New | Crystal Valley Financial | $1,008,000 | – | 16,800 | – | 0.09% | – |
| STBK | New | Studio Bank | $1,000,000 | – | 74,074 | – | 0.09% | – |
| SNV | New | Synovus Financial Corp. | $997,000 | – | 27,657 | – | 0.09% | – |
| TCFC | New | Community Financial Corporation | $986,000 | – | 26,732 | – | 0.09% | – |
| IIIV | New | i3 Verticals, Inc. | $883,000 | – | 35,300 | – | 0.08% | – |
| CFOK | New | Community First Bancorporation | $872,000 | – | 113,744 | – | 0.08% | – |
| CBTX | New | CBTX, Inc. | $869,000 | – | 32,700 | – | 0.08% | – |
| SRYB | New | Surrey Bancorp | $866,000 | – | 61,785 | – | 0.08% | – |
| SI | New | Silvergate Capital Corporation | $820,000 | – | 15,320 | – | 0.07% | – |
| SIVB | New | SVB Financial Group | $801,000 | – | 2,027 | – | 0.07% | – |
| LNKB | New | LinkBancorp | $735,000 | – | 79,000 | – | 0.07% | – |
| PTBS | New | Potomac Bancshares, Inc. | $711,000 | – | 41,492 | – | 0.06% | – |
| RRBI | New | Red River Bancshares, Inc. | $611,000 | – | 11,299 | – | 0.06% | – |
| PAYA | New | Paya Holdings Inc. | $559,000 | – | 85,104 | – | 0.05% | – |
| FFMH | New | First Farmers and Merchants Corporation | $559,000 | – | 21,488 | – | 0.05% | – |
| BTRS | New | BTRS Holdings Inc. | $521,000 | – | 104,645 | – | 0.05% | – |
| LOB | New | Live Oak Bancshares | $432,000 | – | 12,750 | – | 0.04% | – |
| NCBS | New | Nicolet Bankshares, Inc. | $405,000 | – | 5,593 | – | 0.04% | – |
| PAYO | New | Payoneer Global Inc | $404,000 | – | 103,050 | – | 0.04% | – |
| LPRO | New | Open Lending Corporation | $350,000 | – | 34,220 | – | 0.03% | – |
| SBKO | New | Summit Bank Group, Inc. | $311,000 | – | 22,593 | – | 0.03% | – |
| JMSB | New | John Marshall Bank | $302,000 | – | 13,400 | – | 0.03% | – |
| New | nCino, Inc. | $286,000 | – | 9,260 | – | 0.03% | – | |
| AMFC | New | AMB Financial Corp. | $284,000 | – | 12,862 | – | 0.03% | – |
| New | Nuvei Corp | $199,000 | – | 5,500 | – | 0.02% | – | |
| New | Voyager Digital | $184,000 | – | 417,315 | – | 0.02% | – | |
| EFSC | New | Enterprise Financial Services Corp | $182,000 | – | 4,384 | – | 0.02% | – |
| FOUR | New | Shift4 Payments | $95,000 | – | 2,880 | – | 0.01% | – |
| LFGP | New | Ledyard Financial Group, Inc. | $95,000 | – | 4,659 | – | 0.01% | – |
| PCLB | New | Pinnacle Bancshares, Inc. | $85,000 | – | 2,500 | – | 0.01% | – |
| LWCL | New | Lewis & Clark Bancorp | $26,000 | – | 729 | – | 0.00% | – |
Q4 2021
Q3 2021
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| TBK | Sell | Triumph Bancorp, Inc. | $33,185,000 | -31.6% | 331,418 | -49.3% | 2.54% | +42.9% |
| FNBT | Sell | FineMark Holdings, Inc. | $29,394,000 | -48.5% | 864,516 | -50.0% | 2.25% | +7.7% |
| FFWM | Sell | First Foundation Inc. | $28,739,000 | -41.6% | 1,092,748 | -50.0% | 2.20% | +22.1% |
| AMBZ | Sell | American Business Bank | $24,799,000 | -55.3% | 652,594 | -50.3% | 1.90% | -6.5% |
| PGC | Sell | Peapack-Gladstone Financial Corporation | $23,515,000 | -54.4% | 704,890 | -57.5% | 1.80% | -4.6% |
| OSBC | Sell | Old Second Bancorp, Inc. | $21,356,000 | -48.4% | 1,635,228 | -51.0% | 1.64% | +7.9% |
| SFST | Sell | Southern First Bancshares, Inc. | $21,030,000 | -56.9% | 393,086 | -58.8% | 1.61% | -10.0% |
| MYFW | Sell | First Western Financial, Inc. | $20,481,000 | -41.8% | 709,917 | -47.7% | 1.57% | +21.7% |
| FRST | Sell | Primis Financial Corporation | $20,438,000 | -52.6% | 1,413,443 | -50.0% | 1.56% | -0.9% |
| CFB | Sell | CrossFirst Bankshares, Inc. | $20,414,000 | -51.2% | 1,570,289 | -48.4% | 1.56% | +2.1% |
| HBT | Sell | HBT Financial, Inc. | $19,168,000 | -55.3% | 1,232,637 | -50.0% | 1.47% | -6.6% |
| BRBS | Sell | Blue Ridge Bankshares, Inc. | $18,840,000 | -49.8% | 1,071,081 | -50.0% | 1.44% | +4.9% |
| UNTY | Sell | Unity Bancorp, Inc. | $18,690,000 | -49.8% | 798,720 | -52.7% | 1.43% | +5.0% |
| LEVL | Sell | Level One Bancorp, Inc. | $18,473,000 | -46.9% | 627,922 | -50.7% | 1.41% | +10.9% |
| BY | Sell | Byline Bancorp, Inc. | $17,829,000 | -59.1% | 725,920 | -62.4% | 1.36% | -14.6% |
| CNOB | Sell | ConnectOne Bancorp, Inc. | $16,872,000 | -44.2% | 562,204 | -51.4% | 1.29% | +16.6% |
| HTBK | Sell | Heritage Commerce Corp | $16,248,000 | -49.1% | 1,397,054 | -51.3% | 1.24% | +6.3% |
| CBAN | New | Colony Bankcorp Inc. | $16,097,000 | – | 864,500 | – | 1.23% | – |
| SMBK | Sell | SmartFinancial, Inc. | $15,779,000 | -51.0% | 610,409 | -54.4% | 1.21% | +2.5% |
| FRBA | Sell | First Bank | $15,682,000 | -56.1% | 1,112,953 | -57.8% | 1.20% | -8.3% |
| STXB | Sell | Spirit of Texas Bancshares, Inc. | $15,306,000 | -47.0% | 632,481 | -50.0% | 1.17% | +10.8% |
| MNSB | Sell | MainStreet Bancshares, Inc. | $15,265,000 | -54.2% | 636,295 | -56.9% | 1.17% | -4.2% |
| MBWM | Sell | Mercantile Bank Corporation | $14,924,000 | -54.9% | 465,945 | -57.5% | 1.14% | -5.8% |
| SCZC | Sell | Santa Cruz County Bank | $14,825,000 | -51.6% | 312,204 | -50.0% | 1.14% | +1.2% |
| OCBI | Sell | Orange County Bancorp | $14,110,000 | -15.2% | 401,486 | -17.9% | 1.08% | +77.3% |
| LBAI | Sell | Lakeland Bancorp, Inc. | $13,765,000 | -51.2% | 780,756 | -51.6% | 1.05% | +2.1% |
| FBIZ | Sell | First Business Financial Services | $13,760,000 | -62.1% | 479,267 | -64.3% | 1.05% | -20.9% |
| MCB | Sell | Metropolitan Bank Holding Corp. | $13,746,000 | -25.4% | 163,061 | -46.7% | 1.05% | +55.9% |
| CALB | Sell | California BanCorp | $13,555,000 | -52.8% | 773,259 | -49.7% | 1.04% | -1.3% |
| CZWI | Sell | Citizens Community Bancorp, Inc. | $13,084,000 | -54.3% | 951,531 | -54.6% | 1.00% | -4.6% |
| TSC | Sell | TriState Capital Holdings, Inc. | $12,960,000 | -46.6% | 612,776 | -48.5% | 0.99% | +11.7% |
| ISTR | Sell | Investar Holding Corporation | $12,834,000 | -59.8% | 582,854 | -58.2% | 0.98% | -15.8% |
| MRBK | Sell | Meridian Bank | $12,448,000 | -50.3% | 433,271 | -54.6% | 0.95% | +3.9% |
| PMBC | Sell | Pacific Mercantile Bancorp | $12,127,000 | -50.1% | 1,316,712 | -53.4% | 0.93% | +4.3% |
| SIVB | New | SVB Financial Group | $12,055,000 | – | 18,635 | – | 0.92% | – |
| SBNC | Sell | Southern BancShares (N.C.), Inc. | $11,587,000 | -55.7% | 2,207 | -56.1% | 0.89% | -7.4% |
| BCAL | Sell | Southern California Bancorp | $11,527,000 | -45.9% | 732,351 | -50.1% | 0.88% | +13.2% |
| Sell | Suncrest Bank | $11,501,000 | -45.1% | 707,771 | -51.0% | 0.88% | +14.7% | |
| EBTC | Sell | Enterprise Bancorp, Inc. | $11,462,000 | -56.0% | 318,821 | -59.9% | 0.88% | -8.0% |
| FCCY | Sell | 1st Constitution Bancorp | $11,416,000 | -56.9% | 482,284 | -62.3% | 0.87% | -9.9% |
| INBK | Sell | First Internet Bancorp | $11,302,000 | -47.8% | 362,460 | -48.1% | 0.86% | +9.1% |
| AVBH | Sell | Avidbank Holdings, Inc. | $10,588,000 | -53.6% | 465,404 | -51.7% | 0.81% | -2.9% |
| FNRN | Sell | First Northern Community Bancorp | $10,474,000 | -51.3% | 956,489 | -50.0% | 0.80% | +1.8% |
| MLVF | Sell | Malvern Bancorp, Inc. | $10,385,000 | -57.2% | 611,249 | -53.5% | 0.80% | -10.6% |
| Sell | Mountain Commerce Bancorp | $10,172,000 | -46.4% | 366,420 | -49.4% | 0.78% | +12.2% | |
| New | Southern States Bancshares, Inc. | $10,148,000 | – | 532,143 | – | 0.78% | – | |
| OBNK | Sell | Origin Bancorp Inc. | $9,636,000 | -50.1% | 227,542 | -50.0% | 0.74% | +4.2% |
| RBNC | Sell | Reliant Bancorp, Inc. | $9,444,000 | -65.7% | 298,961 | -69.9% | 0.72% | -28.3% |
| PBAM | Sell | Private Bancorp of America, Inc. | $9,273,000 | -62.7% | 374,654 | -63.0% | 0.71% | -22.1% |
| DCOM | Sell | Dime Community Bancshares, Inc | $8,513,000 | -51.4% | 260,662 | -50.0% | 0.65% | +1.6% |
| Sell | First Reliance Bancshares, Inc. | $8,510,000 | -48.0% | 826,166 | -50.0% | 0.65% | +8.8% | |
| TCBI | New | Texas Capital Bancshares, Inc. | $8,403,000 | – | 140,000 | – | 0.64% | – |
| CATC | Sell | Cambridge Bancorp | $8,314,000 | -47.3% | 94,472 | -50.3% | 0.64% | +10.2% |
| MBIN | Sell | Merchants Bancorp | $8,146,000 | -49.7% | 206,378 | -50.0% | 0.62% | +5.2% |
| WTBFB | Sell | W.T.B. Financial Corporation | $8,017,000 | -70.7% | 21,259 | -69.7% | 0.61% | -38.7% |
| LMST | Sell | Limestone Bancorp, Inc. | $7,999,000 | -46.0% | 445,154 | -50.0% | 0.61% | +12.7% |
| Sell | Centric Financial Corporation | $7,705,000 | -51.3% | 811,073 | -50.0% | 0.59% | +1.9% | |
| BWFG | Sell | Bankwell Financial Group, Inc. | $7,602,000 | -47.2% | 260,623 | -50.0% | 0.58% | +10.2% |
| FBK | Sell | FB Financial Corp. | $7,576,000 | -38.0% | 176,678 | -46.0% | 0.58% | +29.8% |
| FETM | Sell | Fentura Financial, Inc. | $7,407,000 | -55.4% | 287,649 | -55.0% | 0.57% | -6.7% |
| PFLC | Sell | Pacific Financial Corporation | $7,400,000 | -54.0% | 627,096 | -51.2% | 0.57% | -3.9% |
| ABTX | Sell | Allegiance Bancshares, Inc. | $7,343,000 | -50.4% | 192,475 | -50.0% | 0.56% | +3.7% |
| MFGI | Sell | Merchants Financial Group, Inc. | $7,267,000 | -54.6% | 99,551 | -55.0% | 0.56% | -5.3% |
| TGRF | Sell | TGR Financial, Inc. | $7,163,000 | -42.4% | 450,195 | -51.1% | 0.55% | +20.4% |
| FCCO | Sell | First Community Corporation | $7,138,000 | -48.2% | 360,504 | -47.2% | 0.55% | +8.1% |
| RIVE | Sell | Riverview Financial Corporation | $7,049,000 | -46.4% | 539,327 | -53.1% | 0.54% | +12.3% |
| RCBC | Sell | River City Bank | $7,032,000 | -46.7% | 24,867 | -50.0% | 0.54% | +11.4% |
| CSHX | Sell | Cashmere Valley Bank | $6,590,000 | -52.3% | 92,367 | -51.0% | 0.50% | -0.2% |
| EGBN | Sell | Eagle Bancorp, Inc. | $6,487,000 | -48.7% | 112,810 | -50.0% | 0.50% | +7.3% |
| CBOBA | Sell | Bay Community Bancorp | $6,344,000 | -50.3% | 834,706 | -50.0% | 0.49% | +4.1% |
| ALRS | Sell | Alerus Financial Corporation | $6,215,000 | -48.5% | 208,000 | -50.0% | 0.48% | +7.7% |
| CVLY | Sell | Codorus Valley Bancorp, Inc. | $6,206,000 | -67.3% | 275,335 | -70.9% | 0.48% | -31.7% |
| WNRP | Sell | West Suburban Bancorp, Inc. | $6,092,000 | -47.4% | 7,503 | -49.2% | 0.47% | +9.9% |
| SABK | Sell | South Atlantic Bancshares, Inc. | $6,079,000 | -50.5% | 423,608 | -50.0% | 0.46% | +3.3% |
| ENVA | Sell | Enova International, Inc. | $6,019,000 | -40.0% | 174,214 | -40.6% | 0.46% | +25.6% |
| PSBQ | Sell | PSB Holdings, Inc. | $6,005,000 | -52.5% | 240,663 | -50.0% | 0.46% | -0.6% |
| BFST | Sell | Business First Bancshares, Inc. | $5,949,000 | -60.0% | 254,324 | -60.7% | 0.46% | -16.4% |
| FISB | Sell | 1st Capital Bancorp | $5,928,000 | -54.9% | 439,420 | -53.2% | 0.45% | -5.8% |
| OVLY | Sell | Oak Valley Bancorp | $5,890,000 | -62.2% | 335,830 | -60.8% | 0.45% | -21.0% |
| EFSC | New | Enterprise Financial Services Corp | $5,861,000 | – | 129,432 | – | 0.45% | – |
| NWYF | Sell | Northway Financial, Inc. | $5,837,000 | -51.5% | 180,992 | -53.1% | 0.45% | +1.4% |
| CCNE | Sell | CNB Financial Corporation | $5,821,000 | -46.7% | 239,160 | -50.0% | 0.45% | +11.5% |
| EQBK | Sell | Equity Bancshares, Inc. | $5,772,000 | -56.6% | 172,926 | -60.3% | 0.44% | -9.2% |
| MPB | Sell | Mid Penn Bank | $5,735,000 | -49.8% | 208,172 | -50.0% | 0.44% | +4.8% |
| QNBC | Sell | QNB Corp. | $5,682,000 | -52.9% | 152,774 | -54.4% | 0.44% | -1.6% |
| FGFH | Sell | Foresight Financial Group, Inc. | $5,348,000 | -54.8% | 167,134 | -55.5% | 0.41% | -5.8% |
| FRBK | Sell | Republic First Bancorp, Inc. | $5,279,000 | -68.6% | 1,713,988 | -59.4% | 0.40% | -34.5% |
| PLBN | Sell | Pilot Bancshares, Inc. | $5,163,000 | -49.2% | 846,429 | -50.0% | 0.40% | +6.2% |
| Sell | American Riviera Bank | $5,155,000 | -50.8% | 268,500 | -50.7% | 0.40% | +2.9% | |
| FXNC | Sell | First National Corporation | $5,132,000 | -21.8% | 223,120 | -31.7% | 0.39% | +63.8% |
| SPFI | Sell | South Plains Financial, Inc. | $5,118,000 | -47.3% | 209,919 | -50.0% | 0.39% | +10.1% |
| PFS | Sell | Provident Financial Services, Inc. | $5,098,000 | -77.7% | 217,212 | -78.3% | 0.39% | -53.5% |
| SHBI | Sell | Shore Bancshares, Inc. | $5,062,000 | -69.3% | 285,479 | -71.0% | 0.39% | -35.8% |
| SASR | Sell | Sandy Spring Bancorp Inc. | $5,024,000 | -77.2% | 109,639 | -78.0% | 0.38% | -52.3% |
| TRBK | Sell | Traditions Bancorp, Inc. | $4,908,000 | -51.4% | 228,258 | -50.5% | 0.38% | +1.6% |
| PBNK | Sell | Pinnacle Bank | $4,776,000 | -53.2% | 360,469 | -51.4% | 0.37% | -2.1% |
| ORPB | Sell | Oregon Pacific Bancorp | $4,750,000 | -48.9% | 677,586 | -50.0% | 0.36% | +6.7% |
| New | U.S. Century Bank | $4,575,000 | – | 375,000 | – | 0.35% | – | |
| PMHG | Sell | Prime Meridian Holding Company | $4,486,000 | -42.4% | 197,176 | -41.7% | 0.34% | +20.4% |
| SNV | Sell | Synovus Financial Corp. | $4,438,000 | -66.9% | 101,126 | -66.9% | 0.34% | -30.8% |
| CBWA | Sell | Commencement Bancorp, Inc. | $4,301,000 | -51.7% | 322,933 | -50.0% | 0.33% | +0.9% |
| SAMG | Sell | Silvercrest Asset Management Group Inc. | $4,286,000 | -59.2% | 275,095 | -60.6% | 0.33% | -14.8% |
| Sell | Two Rivers Financial Group, Inc. | $4,210,000 | -53.8% | 102,691 | -56.0% | 0.32% | -3.6% | |
| FSBC | Sell | Five Star Bancorp | $4,190,000 | -50.4% | 175,000 | -50.0% | 0.32% | +3.5% |
| FCOB | Sell | 1st Colonial Bancorp | $4,180,000 | -51.0% | 433,158 | -53.2% | 0.32% | +2.6% |
| FBMS | Sell | First Bancshares, Inc. | $4,110,000 | -81.4% | 105,978 | -82.0% | 0.32% | -61.1% |
| BCBP | Sell | BCB Bancorp, Inc. | $4,098,000 | -57.6% | 277,648 | -61.4% | 0.31% | -11.3% |
| BSRR | Sell | Sierra Bancorp | $3,987,000 | -60.3% | 164,190 | -58.4% | 0.30% | -17.1% |
| Sell | BayFirst Financial Corp. | $3,888,000 | -38.4% | 133,593 | -50.0% | 0.30% | +29.0% | |
| MVLY | Sell | Mission Valley Bancorp | $3,773,000 | -50.3% | 250,037 | -52.7% | 0.29% | +4.0% |
| BMRC | New | Bank of Marin Bancorp | $3,781,000 | – | 100,169 | – | 0.29% | – |
| SSBI | Sell | Summit State Bank | $3,705,000 | -36.3% | 187,137 | -50.0% | 0.28% | +33.3% |
| FVCB | Sell | First Virginia Community Bank | $3,692,000 | -42.1% | 184,606 | -50.0% | 0.28% | +21.5% |
| MVBF | Sell | MVB Financial Corp. | $3,672,000 | -43.4% | 85,733 | -43.6% | 0.28% | +18.6% |
| BWB | Sell | Bridgewater Bancshares, Inc. | $3,636,000 | -45.8% | 207,652 | -50.0% | 0.28% | +13.0% |
| Sell | Grand River Commerce, Inc. | $3,633,000 | -50.9% | 497,738 | -51.2% | 0.28% | +2.6% | |
| Sell | White River Bancshares Company | $3,537,000 | -48.5% | 45,235 | -48.6% | 0.27% | +7.5% | |
| TRCY | Sell | Tri City Bankshares Corporation | $3,503,000 | -57.1% | 172,141 | -50.0% | 0.27% | -10.4% |
| Sell | CoastalSouth Bancshares, Inc. | $3,472,000 | -50.0% | 204,249 | -50.0% | 0.27% | +4.7% | |
| UBAB | Sell | United Bancorporation of Alabama, Inc. | $3,447,000 | -47.9% | 111,200 | -50.0% | 0.26% | +9.1% |
| MPHX | Sell | MPB BHC, Inc. | $3,428,000 | -53.3% | 207,767 | -51.2% | 0.26% | -2.6% |
| SOUB | Sell | SouthPoint Bancshares, Inc. | $3,407,000 | -51.9% | 104,826 | -50.0% | 0.26% | +0.8% |
| Sell | Beach Bancorp, Inc. | $3,375,000 | -50.0% | 900,000 | -50.0% | 0.26% | +4.5% | |
| Sell | Sevier County Bancshares, Inc. | $3,343,000 | -50.0% | 217,675 | -50.0% | 0.26% | +4.5% | |
| Sell | Peoples Bancorp | $3,242,000 | -51.1% | 14,737 | -50.0% | 0.25% | +2.1% | |
| Sell | Galaxy Digital | $3,245,000 | -34.5% | 198,810 | -24.3% | 0.25% | +36.3% | |
| BOCH | Sell | Bank of Commerce Holdings | $3,129,000 | -71.8% | 206,283 | -72.0% | 0.24% | -40.9% |
| WBBW | Sell | Westbury Bancorp, Inc. | $3,130,000 | -70.6% | 108,131 | -71.0% | 0.24% | -38.5% |
| LWCL | Sell | Lewis & Clark Bancorp | $3,087,000 | -49.8% | 90,388 | -50.0% | 0.24% | +4.9% |
| VBTX | Sell | Veritex Holdings, Inc. | $3,012,000 | -55.8% | 76,534 | -60.2% | 0.23% | -7.6% |
| BOTJ | Sell | Bank of the James Financial Group, Inc. | $3,007,000 | -59.7% | 208,844 | -55.2% | 0.23% | -15.8% |
| Sell | Voyager Digital | $2,956,000 | -53.3% | 295,565 | -20.3% | 0.23% | -2.6% | |
| FNWD | Sell | Finward Bancorp | $2,947,000 | -54.1% | 71,791 | -50.0% | 0.23% | -3.8% |
| Sell | Pioneer Bancshares, Inc | $2,910,000 | -56.0% | 97,000 | -50.0% | 0.22% | -7.9% | |
| SVBI | Sell | Severn Bancorp, Inc. | $2,880,000 | -47.4% | 230,000 | -50.0% | 0.22% | +9.5% |
| Sell | Professional Holding Corp. | $2,820,000 | -47.8% | 150,000 | -50.0% | 0.22% | +9.1% | |
| LC | Sell | LendingClub Corp. | $2,741,000 | -40.5% | 97,053 | -61.8% | 0.21% | +24.3% |
| BPRN | Sell | Bank of Princeton | $2,718,000 | -64.4% | 91,011 | -65.8% | 0.21% | -25.7% |
| GRRB | Sell | GrandSouth Bancorporation | $2,700,000 | -54.2% | 117,885 | -50.0% | 0.21% | -4.2% |
| FRAF | Sell | Franklin Financial Services Corp. | $2,694,000 | -56.8% | 84,796 | -56.5% | 0.21% | -9.6% |
| BKOR | Sell | Oak Ridge Financial Services, Inc. | $2,666,000 | -65.4% | 151,280 | -66.6% | 0.20% | -27.9% |
| Sell | Pacific West Bank | $2,619,000 | -54.5% | 185,715 | -50.0% | 0.20% | -4.7% | |
| SBCF | Sell | Seacoast Banking Corporation of Florida | $2,505,000 | -63.7% | 74,095 | -63.4% | 0.19% | -24.1% |
| SBNY | Sell | Signature Bank | $2,505,000 | -44.6% | 9,200 | -50.0% | 0.19% | +15.7% |
| CCNB | Sell | Coastal Carolina Bancshares, Inc. | $2,419,000 | -54.1% | 251,992 | -57.7% | 0.18% | -4.1% |
| EBSB | Sell | Meridian Interstate Bancorp | $2,397,000 | -69.1% | 115,475 | -69.5% | 0.18% | -35.2% |
| FCPB | Sell | First Capital Bancshares, Inc. | $2,370,000 | -34.3% | 240,600 | -50.0% | 0.18% | +37.1% |
| CCBC | Sell | Chino Commercial Bancorp | $2,332,000 | -55.2% | 167,179 | -53.5% | 0.18% | -6.3% |
| CYFL | Sell | Century Financial Corporation | $2,218,000 | -57.5% | 88,715 | -57.5% | 0.17% | -11.0% |
| SAL | Sell | Salisbury Bancorp, Inc. | $2,211,000 | -49.8% | 43,336 | -50.0% | 0.17% | +5.0% |
| CMHF | Sell | Community Heritage Financial Inc. | $2,090,000 | -49.5% | 90,874 | -50.0% | 0.16% | +6.0% |
| SBT | Sell | Sterling Bancorp, Inc. | $2,081,000 | -43.3% | 403,245 | -50.0% | 0.16% | +18.7% |
| FMCB | Sell | Farmers & Merchants Bancorp | $2,047,000 | -48.0% | 2,283 | -50.0% | 0.16% | +9.0% |
| Sell | McHenry Bancorp, Inc. | $1,949,000 | -23.6% | 60,000 | -99.8% | 0.15% | +60.2% | |
| CCB | Sell | CCB Financial | $1,901,000 | -44.2% | 59,672 | -50.0% | 0.15% | +16.8% |
| Sell | Citizens Bancorp | $1,881,000 | -52.0% | 111,634 | -50.0% | 0.14% | 0.0% | |
| PPBN | Sell | Pinnacle Bankshares Corporation | $1,885,000 | -66.2% | 80,244 | -64.1% | 0.14% | -29.4% |
| ESBS | Sell | ES Bancshares, Inc. | $1,833,000 | -48.8% | 361,445 | -50.0% | 0.14% | +6.9% |
| BLHK | Buy | Blueharbor Bank | $1,775,000 | +34.5% | 135,982 | +36.6% | 0.14% | +183.3% |
| Sell | First Southern Bank | $1,766,000 | -50.0% | 196,250 | -50.0% | 0.14% | +4.7% | |
| VABK | Sell | Virginia National Bankshares Corp. | $1,748,000 | -57.9% | 48,357 | -54.7% | 0.13% | -11.8% |
| RRBI | Sell | Red River Bancshares, Inc. | $1,662,000 | -50.7% | 33,334 | -50.0% | 0.13% | +3.3% |
| CBNK | Sell | Capital Bancorp, Inc. | $1,665,000 | -41.2% | 69,222 | -50.0% | 0.13% | +22.1% |
| EFSI | Sell | Eagle Financial Services Inc. | $1,594,000 | -49.9% | 46,620 | -50.0% | 0.12% | +5.2% |
| TCFC | Sell | Community Financial Corporation | $1,551,000 | -76.4% | 42,076 | -77.9% | 0.12% | -50.6% |
| CFIC | New | Cornerstone Financial Corporation | $1,502,000 | – | 150,000 | – | 0.12% | – |
| SI | Sell | Silvergate Capital Corporation | $1,496,000 | -37.7% | 12,950 | -38.9% | 0.12% | +30.7% |
| FCIT | Sell | First Citrus Bancorporation, Inc. | $1,485,000 | -17.2% | 47,905 | -17.2% | 0.11% | +72.7% |
| CYVF | Sell | Crystal Valley Financial | $1,360,000 | -46.3% | 20,600 | -50.0% | 0.10% | +11.8% |
| CYSM | Sell | Community Bancorp of Santa Maria | $1,321,000 | -53.4% | 115,348 | -52.7% | 0.10% | -2.9% |
| BORT | Sell | Bank of Botetourt | $1,276,000 | -54.7% | 42,005 | -50.0% | 0.10% | -4.9% |
| ICBK | Sell | County Bancorp, Inc. | $1,250,000 | -88.3% | 34,654 | -89.0% | 0.10% | -75.5% |
| PCLB | Sell | Pinnacle Bancshares, Inc. | $1,238,000 | -49.9% | 36,367 | -50.0% | 0.10% | +4.4% |
| CNBW | Sell | CNB Corporation | $1,220,000 | -48.2% | 14,348 | -50.0% | 0.09% | +8.1% |
| VBFC | Sell | Village Bank and Trust Financial Corp. | $1,181,000 | -50.2% | 22,838 | -50.0% | 0.09% | +3.4% |
| RVSB | Sell | Riverview Bancorp, Inc. | $1,114,000 | -50.4% | 153,288 | -51.6% | 0.08% | +3.7% |
| SRYB | Sell | Surrey Bancorp | $950,000 | -49.1% | 63,785 | -50.0% | 0.07% | +7.4% |
| PTBS | Sell | Potomac Bancshares, Inc. | $886,000 | -51.3% | 51,492 | -55.2% | 0.07% | +1.5% |
| CBTX | Sell | CBTX, Inc. | $863,000 | -51.7% | 32,700 | -50.0% | 0.07% | +1.5% |
| WEX | New | WEX Inc. | $867,000 | – | 4,920 | – | 0.07% | – |
| CFOK | Sell | Community First Bancorporation | $796,000 | -52.7% | 113,744 | -50.0% | 0.06% | -1.6% |
| BTRS | New | BTRS Holdings Inc. | $652,000 | – | 61,300 | – | 0.05% | – |
| UBSI | Sell | United Bankshares | $586,000 | -50.2% | 16,118 | -50.0% | 0.04% | +4.7% |
| WSBC | Sell | WesBanco, Inc. | $577,000 | -74.6% | 16,934 | -73.5% | 0.04% | -47.0% |
| LOB | Sell | Live Oak Bancshares | $560,000 | -46.1% | 8,800 | -50.0% | 0.04% | +13.2% |
| AMFC | Sell | AMB Financial Corp. | $540,000 | -81.5% | 26,000 | -83.5% | 0.04% | -61.7% |
| TBBK | New | The Bancorp, Inc. | $527,000 | – | 20,700 | – | 0.04% | – |
| FFMH | Sell | First Farmers and Merchants Corporation | $441,000 | -47.6% | 12,500 | -50.0% | 0.03% | +9.7% |
| LFGP | Sell | Ledyard Financial Group, Inc. | $434,000 | -65.8% | 17,374 | -62.6% | 0.03% | -28.3% |
| HBMD | Sell | Howard Bancorp, Inc. | $366,000 | -37.1% | 18,037 | -50.0% | 0.03% | +33.3% |
| CSTR | Sell | CapStar Financial Holdings, Inc. | $303,000 | -48.1% | 14,268 | -50.0% | 0.02% | +9.5% |
| TWCF | Sell | Town and Country Financial Corporation | $285,000 | -47.8% | 10,914 | -50.0% | 0.02% | +10.0% |
| SBKO | Sell | Summit Bank Group, Inc. | $265,000 | -50.4% | 17,375 | -50.0% | 0.02% | 0.0% |
| AMNB | New | American National Bankshares Inc. | $119,000 | – | 3,600 | – | 0.01% | – |
| HSBI | Sell | Heritage Southeast Bancorporation, Inc. | $36,000 | -50.0% | 1,401 | -50.0% | 0.00% | 0.0% |
| FFIC | Exit | Flushing Financial Corporation | $0 | – | -4,918 | – | -0.00% | – |
| Exit | ECN Capital Corporation | $0 | – | -106,600 | – | -0.03% | – | |
| Exit | Nuvei Corp | $0 | – | -11,000 | – | -0.03% | – | |
| BXS | Exit | BancorpSouth, Inc. | $0 | – | -33,756 | – | -0.04% | – |
| UVSP | Exit | Univest Financial Corporation | $0 | – | -133,904 | – | -0.13% | – |
| SYBT | Exit | Stock Yards Bancorp, Inc. | $0 | – | -84,076 | – | -0.16% | – |
| BFTL | Exit | Bank of Fincastle | $0 | – | -1,785,944 | – | -0.21% | – |
| AMRB | Exit | American River Bankshares | $0 | – | -435,376 | – | -0.29% | – |
| Exit | Southern States Bancshares, Inc. | $0 | – | -464,286 | – | -0.34% | – | |
| SCSG | Exit | SouthCrest Financial Group, Inc. (arb) | $0 | – | -1,549,287 | – | -0.70% | – |
| FCBP | Exit | First Choice Bancorp | $0 | – | -960,846 | – | -1.07% | – |
| BPFH | Exit | Boston Private Financial Holdings, Inc. | $0 | – | -2,237,708 | – | -1.21% | – |
Q2 2021
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| FNBT | New | FineMark Holdings, Inc. | $57,058,000 | – | 1,729,032 | – | 2.09% | – |
| AMBZ | New | American Business Bank | $55,422,000 | – | 1,313,320 | – | 2.03% | – |
| PGC | New | Peapack-Gladstone Financial Corporation | $51,530,000 | – | 1,658,502 | – | 1.89% | – |
| FFWM | New | First Foundation Inc. | $49,196,000 | – | 2,185,496 | – | 1.80% | – |
| SFST | New | Southern First Bancshares, Inc. | $48,826,000 | – | 954,372 | – | 1.79% | – |
| TBK | New | Triumph Bancorp, Inc. | $48,532,000 | – | 653,636 | – | 1.78% | – |
| BY | New | Byline Bancorp, Inc. | $43,636,000 | – | 1,928,216 | – | 1.60% | – |
| FRST | New | Primis Financial Corporation | $43,138,000 | – | 2,826,886 | – | 1.58% | – |
| HBT | New | HBT Financial, Inc. | $42,920,000 | – | 2,465,274 | – | 1.57% | – |
| CFB | New | CrossFirst Bankshares, Inc. | $41,808,000 | – | 3,040,578 | – | 1.53% | – |
| OSBC | New | Old Second Bancorp, Inc. | $41,358,000 | – | 3,335,358 | – | 1.52% | – |
| BRBS | New | Blue Ridge Bankshares, Inc. | $37,530,000 | – | 2,142,162 | – | 1.38% | – |
| UNTY | New | Unity Bancorp, Inc. | $37,202,000 | – | 1,687,206 | – | 1.36% | – |
| FBIZ | New | First Business Financial Services | $36,352,000 | – | 1,342,894 | – | 1.33% | – |
| FRBA | New | First Bank | $35,728,000 | – | 2,638,668 | – | 1.31% | – |
| MYFW | New | First Western Financial, Inc. | $35,164,000 | – | 1,358,234 | – | 1.29% | – |
| LEVL | New | Level One Bancorp, Inc. | $34,802,000 | – | 1,274,824 | – | 1.28% | – |
| MNSB | New | MainStreet Bancshares, Inc. | $33,304,000 | – | 1,474,940 | – | 1.22% | – |
| MBWM | New | Mercantile Bank Corporation | $33,108,000 | – | 1,096,314 | – | 1.21% | – |
| BPFH | New | Boston Private Financial Holdings, Inc. | $33,006,000 | – | 2,237,708 | – | 1.21% | – |
| SMBK | New | SmartFinancial, Inc. | $32,170,000 | – | 1,339,838 | – | 1.18% | – |
| HTBK | New | Heritage Commerce Corp | $31,940,000 | – | 2,869,764 | – | 1.17% | – |
| ISTR | New | Investar Holding Corporation | $31,892,000 | – | 1,393,284 | – | 1.17% | – |
| SCZC | New | Santa Cruz County Bank | $30,628,000 | – | 624,408 | – | 1.12% | – |
| CNOB | New | ConnectOne Bancorp, Inc. | $30,262,000 | – | 1,156,394 | – | 1.11% | – |
| FCBP | New | First Choice Bancorp | $29,258,000 | – | 960,846 | – | 1.07% | – |
| STXB | New | Spirit of Texas Bancshares, Inc. | $28,892,000 | – | 1,264,962 | – | 1.06% | – |
| CALB | New | California BanCorp | $28,732,000 | – | 1,536,518 | – | 1.05% | – |
| CZWI | New | Citizens Community Bancorp, Inc. | $28,654,000 | – | 2,094,606 | – | 1.05% | – |
| LBAI | New | Lakeland Bancorp, Inc. | $28,180,000 | – | 1,612,100 | – | 1.03% | – |
| RBNC | New | Reliant Bancorp, Inc. | $27,550,000 | – | 993,522 | – | 1.01% | – |
| WTBFB | New | W.T.B. Financial Corporation | $27,342,000 | – | 70,106 | – | 1.00% | – |
| FCCY | New | 1st Constitution Bancorp | $26,488,000 | – | 1,280,184 | – | 0.97% | – |
| SBNC | New | Southern BancShares (N.C.), Inc. | $26,156,000 | – | 5,030 | – | 0.96% | – |
| EBTC | New | Enterprise Bancorp, Inc. | $26,048,000 | – | 795,344 | – | 0.95% | – |
| MRBK | New | Meridian Bank | $25,030,000 | – | 953,534 | – | 0.92% | – |
| PBAM | New | Private Bancorp of America, Inc. | $24,890,000 | – | 1,013,818 | – | 0.91% | – |
| PMBC | New | Pacific Mercantile Bancorp | $24,296,000 | – | 2,825,024 | – | 0.89% | – |
| MLVF | New | Malvern Bancorp, Inc. | $24,270,000 | – | 1,315,398 | – | 0.89% | – |
| TSC | New | TriState Capital Holdings, Inc. | $24,252,000 | – | 1,189,442 | – | 0.89% | – |
| PFS | New | Provident Financial Services, Inc. | $22,866,000 | – | 998,936 | – | 0.84% | – |
| AVBH | New | Avidbank Holdings, Inc. | $22,804,000 | – | 963,808 | – | 0.84% | – |
| FBMS | New | First Bancshares, Inc. | $22,098,000 | – | 590,402 | – | 0.81% | – |
| SASR | New | Sandy Spring Bancorp Inc. | $22,034,000 | – | 499,300 | – | 0.81% | – |
| INBK | New | First Internet Bancorp | $21,644,000 | – | 698,638 | – | 0.79% | – |
| FNRN | New | First Northern Community Bancorp | $21,522,000 | – | 1,912,978 | – | 0.79% | – |
| BCAL | New | Southern California Bancorp | $21,296,000 | – | 1,468,702 | – | 0.78% | – |
| New | Suncrest Bank | $20,960,000 | – | 1,445,542 | – | 0.77% | – | |
| OBNK | New | Origin Bancorp Inc. | $19,322,000 | – | 455,084 | – | 0.71% | – |
| SCSG | New | SouthCrest Financial Group, Inc. (arb) | $18,978,000 | – | 1,549,287 | – | 0.70% | – |
| CVLY | New | Codorus Valley Bancorp, Inc. | $18,984,000 | – | 947,318 | – | 0.70% | – |
| New | Mountain Commerce Bancorp | $18,960,000 | – | 723,640 | – | 0.69% | – | |
| MCB | New | Metropolitan Bank Holding Corp. | $18,434,000 | – | 306,122 | – | 0.68% | – |
| DCOM | New | Dime Community Bancshares, Inc | $17,526,000 | – | 521,324 | – | 0.64% | – |
| FRBK | New | Republic First Bancorp, Inc. | $16,832,000 | – | 4,218,552 | – | 0.62% | – |
| OCBI | New | Orange County Bancorp | $16,636,000 | – | 489,280 | – | 0.61% | – |
| FETM | New | Fentura Financial, Inc. | $16,608,000 | – | 638,800 | – | 0.61% | – |
| SHBI | New | Shore Bancshares, Inc. | $16,502,000 | – | 985,166 | – | 0.60% | – |
| New | First Reliance Bancshares, Inc. | $16,358,000 | – | 1,652,332 | – | 0.60% | – | |
| MBIN | New | Merchants Bancorp | $16,196,000 | – | 412,756 | – | 0.59% | – |
| PFLC | New | Pacific Financial Corporation | $16,104,000 | – | 1,286,192 | – | 0.59% | – |
| MFGI | New | Merchants Financial Group, Inc. | $16,024,000 | – | 221,026 | – | 0.59% | – |
| New | Centric Financial Corporation | $15,816,000 | – | 1,622,146 | – | 0.58% | – | |
| CATC | New | Cambridge Bancorp | $15,784,000 | – | 190,192 | – | 0.58% | – |
| OVLY | New | Oak Valley Bancorp | $15,584,000 | – | 857,660 | – | 0.57% | – |
| BFST | New | Business First Bancshares, Inc. | $14,864,000 | – | 647,700 | – | 0.54% | – |
| LMST | New | Limestone Bancorp, Inc. | $14,814,000 | – | 890,308 | – | 0.54% | – |
| ABTX | New | Allegiance Bancshares, Inc. | $14,798,000 | – | 384,950 | – | 0.54% | – |
| BWFG | New | Bankwell Financial Group, Inc. | $14,408,000 | – | 521,246 | – | 0.53% | – |
| CSHX | New | Cashmere Valley Bank | $13,802,000 | – | 188,534 | – | 0.51% | – |
| FCCO | New | First Community Corporation | $13,788,000 | – | 682,528 | – | 0.50% | – |
| SNV | New | Synovus Financial Corp. | $13,404,000 | – | 305,452 | – | 0.49% | – |
| EQBK | New | Equity Bancshares, Inc. | $13,290,000 | – | 435,852 | – | 0.49% | – |
| RCBC | New | River City Bank | $13,192,000 | – | 49,734 | – | 0.48% | – |
| FISB | New | 1st Capital Bancorp | $13,146,000 | – | 939,006 | – | 0.48% | – |
| RIVE | New | Riverview Financial Corporation | $13,144,000 | – | 1,150,038 | – | 0.48% | – |
| CBOBA | New | Bay Community Bancorp | $12,754,000 | – | 1,669,412 | – | 0.47% | – |
| PSBQ | New | PSB Holdings, Inc. | $12,634,000 | – | 481,326 | – | 0.46% | – |
| EGBN | New | Eagle Bancorp, Inc. | $12,652,000 | – | 225,620 | – | 0.46% | – |
| TGRF | New | TGR Financial, Inc. | $12,426,000 | – | 920,390 | – | 0.46% | – |
| SABK | New | South Atlantic Bancshares, Inc. | $12,284,000 | – | 847,216 | – | 0.45% | – |
| FBK | New | FB Financial Corp. | $12,216,000 | – | 327,356 | – | 0.45% | – |
| QNBC | New | QNB Corp. | $12,064,000 | – | 335,106 | – | 0.44% | – |
| ALRS | New | Alerus Financial Corporation | $12,068,000 | – | 416,000 | – | 0.44% | – |
| NWYF | New | Northway Financial, Inc. | $12,042,000 | – | 385,984 | – | 0.44% | – |
| FGFH | New | Foresight Financial Group, Inc. | $11,840,000 | – | 375,868 | – | 0.43% | – |
| WNRP | New | West Suburban Bancorp, Inc. | $11,572,000 | – | 14,760 | – | 0.42% | – |
| MPB | New | Mid Penn Bank | $11,428,000 | – | 416,344 | – | 0.42% | – |
| BOCH | New | Bank of Commerce Holdings | $11,080,000 | – | 737,632 | – | 0.41% | – |
| CCNE | New | CNB Financial Corporation | $10,916,000 | – | 478,320 | – | 0.40% | – |
| ICBK | New | County Bancorp, Inc. | $10,690,000 | – | 314,798 | – | 0.39% | – |
| WBBW | New | Westbury Bancorp, Inc. | $10,638,000 | – | 373,262 | – | 0.39% | – |
| SAMG | New | Silvercrest Asset Management Group Inc. | $10,500,000 | – | 698,074 | – | 0.38% | – |
| New | American Riviera Bank | $10,472,000 | – | 545,000 | – | 0.38% | – | |
| PBNK | New | Pinnacle Bank | $10,208,000 | – | 742,358 | – | 0.37% | – |
| PLBN | New | Pilot Bancshares, Inc. | $10,158,000 | – | 1,692,858 | – | 0.37% | – |
| TRBK | New | Traditions Bancorp, Inc. | $10,096,000 | – | 460,998 | – | 0.37% | – |
| BSRR | New | Sierra Bancorp | $10,050,000 | – | 394,854 | – | 0.37% | – |
| ENVA | New | Enova International, Inc. | $10,032,000 | – | 293,228 | – | 0.37% | – |
| SPFI | New | South Plains Financial, Inc. | $9,710,000 | – | 419,838 | – | 0.36% | – |
| BCBP | New | BCB Bancorp, Inc. | $9,674,000 | – | 719,298 | – | 0.35% | – |
| ORPB | New | Oregon Pacific Bancorp | $9,296,000 | – | 1,355,172 | – | 0.34% | – |
| New | Southern States Bancshares, Inc. | $9,286,000 | – | 464,286 | – | 0.34% | – | |
| New | Two Rivers Financial Group, Inc. | $9,122,000 | – | 233,582 | – | 0.33% | – | |
| CBWA | New | Commencement Bancorp, Inc. | $8,912,000 | – | 645,866 | – | 0.33% | – |
| FCOB | New | 1st Colonial Bancorp | $8,522,000 | – | 926,316 | – | 0.31% | – |
| FSBC | New | Five Star Bancorp | $8,452,000 | – | 350,000 | – | 0.31% | – |
| TRCY | New | Tri City Bankshares Corporation | $8,160,000 | – | 344,282 | – | 0.30% | – |
| AMRB | New | American River Bankshares | $7,828,000 | – | 435,376 | – | 0.29% | – |
| PMHG | New | Prime Meridian Holding Company | $7,786,000 | – | 338,486 | – | 0.28% | – |
| EBSB | New | Meridian Interstate Bancorp | $7,758,000 | – | 379,140 | – | 0.28% | – |
| BKOR | New | Oak Ridge Financial Services, Inc. | $7,716,000 | – | 453,360 | – | 0.28% | – |
| BPRN | New | Bank of Princeton | $7,638,000 | – | 266,422 | – | 0.28% | – |
| MVLY | New | Mission Valley Bancorp | $7,592,000 | – | 529,084 | – | 0.28% | – |
| BOTJ | New | Bank of the James Financial Group, Inc. | $7,466,000 | – | 466,682 | – | 0.27% | – |
| New | Grand River Commerce, Inc. | $7,392,000 | – | 1,019,476 | – | 0.27% | – | |
| MPHX | New | MPB BHC, Inc. | $7,340,000 | – | 425,534 | – | 0.27% | – |
| SOUB | New | SouthPoint Bancshares, Inc. | $7,076,000 | – | 209,652 | – | 0.26% | – |
| New | CoastalSouth Bancshares, Inc. | $6,944,000 | – | 408,498 | – | 0.25% | – | |
| SBCF | New | Seacoast Banking Corporation of Florida | $6,904,000 | – | 202,190 | – | 0.25% | – |
| New | White River Bancshares Company | $6,868,000 | – | 88,050 | – | 0.25% | – | |
| VBTX | New | Veritex Holdings, Inc. | $6,814,000 | – | 192,412 | – | 0.25% | – |
| New | Beach Bancorp, Inc. | $6,750,000 | – | 1,800,000 | – | 0.25% | – | |
| BWB | New | Bridgewater Bancshares, Inc. | $6,708,000 | – | 415,304 | – | 0.25% | – |
| New | Sevier County Bancshares, Inc. | $6,686,000 | – | 435,350 | – | 0.24% | – | |
| New | Peoples Bancorp | $6,632,000 | – | 29,474 | – | 0.24% | – | |
| New | Pioneer Bancshares, Inc | $6,618,000 | – | 194,000 | – | 0.24% | – | |
| UBAB | New | United Bancorporation of Alabama, Inc. | $6,616,000 | – | 222,400 | – | 0.24% | – |
| TCFC | New | Community Financial Corporation | $6,578,000 | – | 190,664 | – | 0.24% | – |
| FXNC | New | First National Corporation | $6,562,000 | – | 326,770 | – | 0.24% | – |
| MVBF | New | MVB Financial Corp. | $6,482,000 | – | 151,966 | – | 0.24% | – |
| FNWD | New | Finward Bancorp | $6,426,000 | – | 143,582 | – | 0.24% | – |
| FVCB | New | First Virginia Community Bank | $6,372,000 | – | 369,212 | – | 0.23% | – |
| New | Voyager Digital | $6,328,000 | – | 370,730 | – | 0.23% | – | |
| New | BayFirst Financial Corp. | $6,314,000 | – | 267,186 | – | 0.23% | – | |
| FRAF | New | Franklin Financial Services Corp. | $6,230,000 | – | 195,038 | – | 0.23% | – |
| LWCL | New | Lewis & Clark Bancorp | $6,146,000 | – | 180,776 | – | 0.22% | – |
| GRRB | New | GrandSouth Bancorporation | $5,894,000 | – | 235,770 | – | 0.22% | – |
| SSBI | New | Summit State Bank | $5,816,000 | – | 374,274 | – | 0.21% | – |
| BFTL | New | Bank of Fincastle | $5,804,000 | – | 1,785,944 | – | 0.21% | – |
| New | Pacific West Bank | $5,758,000 | – | 371,430 | – | 0.21% | – | |
| PPBN | New | Pinnacle Bankshares Corporation | $5,570,000 | – | 223,688 | – | 0.20% | – |
| SVBI | New | Severn Bancorp, Inc. | $5,474,000 | – | 460,000 | – | 0.20% | – |
| New | Professional Holding Corp. | $5,406,000 | – | 300,000 | – | 0.20% | – | |
| CCNB | New | Coastal Carolina Bancshares, Inc. | $5,270,000 | – | 595,484 | – | 0.19% | – |
| CCBC | New | Chino Commercial Bancorp | $5,210,000 | – | 359,360 | – | 0.19% | – |
| CYFL | New | Century Financial Corporation | $5,218,000 | – | 208,692 | – | 0.19% | – |
| New | Galaxy Digital | $4,956,000 | – | 262,772 | – | 0.18% | – | |
| LC | New | LendingClub Corp. | $4,606,000 | – | 254,106 | – | 0.17% | – |
| SBNY | New | Signature Bank | $4,520,000 | – | 18,400 | – | 0.17% | – |
| SAL | New | Salisbury Bancorp, Inc. | $4,402,000 | – | 86,672 | – | 0.16% | – |
| SYBT | New | Stock Yards Bancorp, Inc. | $4,278,000 | – | 84,076 | – | 0.16% | – |
| VABK | New | Virginia National Bankshares Corp. | $4,150,000 | – | 106,714 | – | 0.15% | – |
| CMHF | New | Community Heritage Financial Inc. | $4,136,000 | – | 181,748 | – | 0.15% | – |
| FMCB | New | Farmers & Merchants Bancorp | $3,936,000 | – | 4,566 | – | 0.14% | – |
| New | Citizens Bancorp | $3,918,000 | – | 223,268 | – | 0.14% | – | |
| SBT | New | Sterling Bancorp, Inc. | $3,670,000 | – | 806,490 | – | 0.13% | – |
| FCPB | New | First Capital Bancshares, Inc. | $3,610,000 | – | 481,200 | – | 0.13% | – |
| ESBS | New | ES Bancshares, Inc. | $3,578,000 | – | 722,890 | – | 0.13% | – |
| New | First Southern Bank | $3,532,000 | – | 392,500 | – | 0.13% | – | |
| UVSP | New | Univest Financial Corporation | $3,532,000 | – | 133,904 | – | 0.13% | – |
| CCB | New | CCB Financial | $3,408,000 | – | 119,344 | – | 0.12% | – |
| RRBI | New | Red River Bancshares, Inc. | $3,368,000 | – | 66,668 | – | 0.12% | – |
| EFSI | New | Eagle Financial Services Inc. | $3,180,000 | – | 93,240 | – | 0.12% | – |
| AMFC | New | AMB Financial Corp. | $2,914,000 | – | 157,500 | – | 0.11% | – |
| CYSM | New | Community Bancorp of Santa Maria | $2,832,000 | – | 244,096 | – | 0.10% | – |
| CBNK | New | Capital Bancorp, Inc. | $2,832,000 | – | 138,444 | – | 0.10% | – |
| BORT | New | Bank of Botetourt | $2,814,000 | – | 84,010 | – | 0.10% | – |
| New | McHenry Bancorp, Inc. | $2,550,000 | – | 30,000,000 | – | 0.09% | – | |
| CYVF | New | Crystal Valley Financial | $2,534,000 | – | 41,200 | – | 0.09% | – |
| PCLB | New | Pinnacle Bancshares, Inc. | $2,472,000 | – | 72,734 | – | 0.09% | – |
| SI | New | Silvergate Capital Corporation | $2,402,000 | – | 21,200 | – | 0.09% | – |
| VBFC | New | Village Bank and Trust Financial Corp. | $2,372,000 | – | 45,676 | – | 0.09% | – |
| CNBW | New | CNB Corporation | $2,354,000 | – | 28,696 | – | 0.09% | – |
| WSBC | New | WesBanco, Inc. | $2,276,000 | – | 63,868 | – | 0.08% | – |
| RVSB | New | Riverview Bancorp, Inc. | $2,244,000 | – | 316,576 | – | 0.08% | – |
| SRYB | New | Surrey Bancorp | $1,868,000 | – | 127,570 | – | 0.07% | – |
| PTBS | New | Potomac Bancshares, Inc. | $1,820,000 | – | 114,810 | – | 0.07% | – |
| FCIT | New | First Citrus Bancorporation, Inc. | $1,794,000 | – | 57,890 | – | 0.07% | – |
| CBTX | New | CBTX, Inc. | $1,786,000 | – | 65,400 | – | 0.06% | – |
| CFOK | New | Community First Bancorporation | $1,684,000 | – | 227,488 | – | 0.06% | – |
| BLHK | New | Blueharbor Bank | $1,320,000 | – | 99,548 | – | 0.05% | – |
| LFGP | New | Ledyard Financial Group, Inc. | $1,268,000 | – | 46,498 | – | 0.05% | – |
| UBSI | New | United Bankshares | $1,176,000 | – | 32,236 | – | 0.04% | – |
| LOB | New | Live Oak Bancshares | $1,038,000 | – | 17,600 | – | 0.04% | – |
| BXS | New | BancorpSouth, Inc. | $956,000 | – | 33,756 | – | 0.04% | – |
| New | Nuvei Corp | $900,000 | – | 11,000 | – | 0.03% | – | |
| FFMH | New | First Farmers and Merchants Corporation | $842,000 | – | 25,000 | – | 0.03% | – |
| New | ECN Capital Corporation | $800,000 | – | 106,600 | – | 0.03% | – | |
| HBMD | New | Howard Bancorp, Inc. | $582,000 | – | 36,074 | – | 0.02% | – |
| CSTR | New | CapStar Financial Holdings, Inc. | $584,000 | – | 28,536 | – | 0.02% | – |
| SBKO | New | Summit Bank Group, Inc. | $534,000 | – | 34,750 | – | 0.02% | – |
| TWCF | New | Town and Country Financial Corporation | $546,000 | – | 21,828 | – | 0.02% | – |
| FFIC | New | Flushing Financial Corporation | $106,000 | – | 4,918 | – | 0.00% | – |
| HSBI | New | Heritage Southeast Bancorporation, Inc. | $72,000 | – | 2,802 | – | 0.00% | – |
Q4 2020
Q3 2020
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| FFWM | Sell | First Foundation Inc. | $14,341,000 | -23.1% | 1,097,260 | -3.8% | 1.86% | -16.1% |
| PGC | Buy | Peapack-Gladstone Financial Corporation | $13,671,000 | -17.5% | 902,391 | +2.0% | 1.78% | -10.0% |
| SASR | Sell | Sandy Spring Bancorp Inc. | $13,485,000 | -15.9% | 584,259 | -9.7% | 1.75% | -8.3% |
| AMBZ | Buy | American Business Bank | $13,288,000 | +28.6% | 585,371 | +41.9% | 1.73% | +40.3% |
| PFS | New | Provident Financial Services, Inc. | $12,899,000 | – | 1,057,271 | – | 1.68% | – |
| SONA | Buy | Southern National Bancorp of Virginia,Inc. | $12,352,000 | +10.1% | 1,422,994 | +23.0% | 1.60% | +20.1% |
| SFST | Sell | Southern First Bancshares, Inc. | $11,950,000 | -27.5% | 494,835 | -16.8% | 1.55% | -20.9% |
| BY | Buy | Byline Bancorp, Inc. | $11,848,000 | -12.2% | 1,050,360 | +1.9% | 1.54% | -4.2% |
| WTBFB | Sell | W.T.B. Financial Corporation | $11,114,000 | -1.1% | 39,694 | -1.5% | 1.44% | +7.8% |
| LBAI | Sell | Lakeland Bancorp, Inc. | $11,059,000 | -23.7% | 1,111,486 | -12.4% | 1.44% | -16.8% |
| BPFH | Buy | Boston Private Financial Holdings, Inc. | $10,938,000 | -6.0% | 1,981,454 | +17.1% | 1.42% | +2.5% |
| FBIZ | Buy | First Business Financial Services | $10,889,000 | -8.5% | 762,029 | +5.4% | 1.41% | -0.2% |
| OSBC | Sell | Old Second Bancorp, Inc. | $10,724,000 | -22.8% | 1,429,900 | -19.9% | 1.39% | -15.8% |
| TBK | Sell | Triumph Bancorp, Inc. | $10,177,000 | +11.3% | 326,818 | -13.3% | 1.32% | +21.4% |
| ISTR | Buy | Investar Holding Corporation | $9,712,000 | -9.2% | 757,594 | +2.7% | 1.26% | -1.0% |
| TSC | Sell | TriState Capital Holdings, Inc. | $8,882,000 | -35.2% | 670,843 | -23.1% | 1.15% | -29.3% |
| MRBK | Sell | Meridian Bank | $8,763,000 | +1.7% | 543,284 | -0.0% | 1.14% | +10.9% |
| MBWM | Sell | Mercantile Bank Corporation | $8,730,000 | -34.0% | 484,484 | -17.3% | 1.13% | -28.0% |
| FCBP | Sell | First Choice Bancorp | $8,651,000 | -22.5% | 650,905 | -4.5% | 1.12% | -15.4% |
| CVLY | Sell | Codorus Valley Bancorp, Inc. | $8,583,000 | -6.9% | 655,167 | -1.7% | 1.12% | +1.5% |
| MNSB | Buy | MainStreet Bancshares, Inc. | $8,431,000 | +3.8% | 688,832 | +12.0% | 1.10% | +13.2% |
| MLVF | Buy | Malvern Bancorp, Inc. | $8,245,000 | +4.7% | 698,699 | +12.9% | 1.07% | +14.2% |
| CALB | Buy | California BanCorp | $8,249,000 | +29.2% | 728,075 | +69.9% | 1.07% | +40.9% |
| FBMS | Sell | First Bancshares, Inc. | $8,236,000 | -24.2% | 392,768 | -18.6% | 1.07% | -17.2% |
| UNTY | Sell | Unity Bancorp, Inc. | $8,217,000 | -29.2% | 709,596 | -12.6% | 1.07% | -22.8% |
| CNOB | Buy | ConnectOne Bancorp, Inc. | $8,088,000 | +9.3% | 574,857 | +25.3% | 1.05% | +19.2% |
| FRBA | Sell | First Bank | $7,690,000 | -7.5% | 1,240,264 | -2.7% | 1.00% | +0.9% |
| FCCY | Buy | 1st Constitution Bancorp | $7,616,000 | +0.1% | 639,978 | +4.3% | 0.99% | +9.2% |
| AVBH | Buy | Avidbank Holdings, Inc. | $7,536,000 | -9.9% | 570,904 | +1.4% | 0.98% | -1.7% |
| RBNC | Sell | Reliant Bancorp, Inc. | $7,287,000 | -12.7% | 502,561 | -2.0% | 0.95% | -4.8% |
| VBTX | Sell | Veritex Holdings, Inc. | $7,143,000 | -13.1% | 419,412 | -9.7% | 0.93% | -5.2% |
| FNRN | Sell | First Northern Community Bancorp | $7,084,000 | +0.3% | 863,872 | -1.0% | 0.92% | +9.4% |
| CZWI | Buy | Citizens Community Bancorp, Inc. | $7,045,000 | +13.2% | 1,022,468 | +12.7% | 0.92% | +23.5% |
| MFGI | Buy | Merchants Financial Group, Inc. | $7,021,000 | +13.3% | 130,013 | +11.2% | 0.91% | +23.6% |
| BCAL | Sell | Southern California Bancorp | $6,891,000 | -13.7% | 820,301 | -0.9% | 0.90% | -5.9% |
| OBNK | Sell | Origin Bancorp Inc. | $6,824,000 | -10.3% | 319,453 | -7.6% | 0.89% | -2.2% |
| Sell | Suncrest Bank | $6,740,000 | -17.0% | 831,052 | -15.4% | 0.88% | -9.5% | |
| CATC | Sell | Cambridge Bancorp | $5,805,000 | -16.5% | 109,196 | -7.0% | 0.75% | -8.9% |
| FETM | Sell | Fentura Financial, Inc. | $5,764,000 | -8.3% | 340,470 | -6.1% | 0.75% | 0.0% |
| MBIN | Sell | Merchants Bancorp | $5,300,000 | -2.5% | 268,915 | -8.5% | 0.69% | +6.3% |
| PFLC | Buy | Pacific Financial Corporation | $5,256,000 | +12.5% | 687,096 | +8.0% | 0.68% | +22.8% |
| Sell | Centric Financial Corporation | $5,190,000 | -3.3% | 691,956 | -11.7% | 0.67% | +5.5% | |
| BPRN | Sell | Bank of Princeton | $5,121,000 | -10.0% | 281,821 | -0.6% | 0.66% | -1.9% |
| INBK | Buy | First Internet Bancorp | $4,990,000 | +18.7% | 338,747 | +33.9% | 0.65% | +29.3% |
| EGBN | Buy | Eagle Bancorp, Inc. | $4,958,000 | -1.5% | 185,087 | +20.4% | 0.64% | +7.3% |
| HTBK | Buy | Heritage Commerce Corp | $4,909,000 | +139.5% | 737,144 | +170.0% | 0.64% | +161.5% |
| ABTX | Sell | Allegiance Bancshares, Inc. | $4,660,000 | -23.9% | 199,399 | -17.3% | 0.60% | -17.0% |
| MCB | Sell | Metropolitan Bank Holding Corp. | $4,513,000 | -20.1% | 161,161 | -8.5% | 0.59% | -12.9% |
| FISB | New | 1st Capital Bancorp | $4,172,000 | – | 444,251 | – | 0.54% | – |
| FNBT | Sell | FineMark Holdings, Inc. | $4,076,000 | -10.1% | 205,330 | -2.2% | 0.53% | -2.0% |
| NWYF | Sell | Northway Financial, Inc. | $3,900,000 | -17.8% | 179,294 | -11.1% | 0.51% | -10.3% |
| RIVE | Buy | Riverview Financial Corporation | $3,825,000 | +44.3% | 565,848 | +14.9% | 0.50% | +57.3% |
| CSHX | Sell | Cashmere Valley Bank | $3,809,000 | -1.8% | 84,706 | -6.1% | 0.50% | +7.1% |
| BWFG | Sell | Bankwell Financial Group, Inc. | $3,752,000 | -14.3% | 265,193 | -3.6% | 0.49% | -6.5% |
| EQBK | Buy | Equity Bancshares, Inc. | $3,683,000 | +32.7% | 237,637 | +49.3% | 0.48% | +44.4% |
| SCZC | Buy | Santa Cruz County Bank | $3,630,000 | +24.6% | 99,718 | +28.3% | 0.47% | +35.7% |
| OCBI | Sell | Orange County Bancorp | $3,619,000 | -8.1% | 152,383 | -8.1% | 0.47% | +0.2% |
| WBBW | Buy | Westbury Bancorp, Inc. | $3,555,000 | +5.3% | 178,631 | +1.9% | 0.46% | +14.9% |
| SABK | Buy | South Atlantic Bancshares, Inc. | $3,550,000 | +6.2% | 423,608 | +13.8% | 0.46% | +15.8% |
| CBWA | Sell | Commencement Bancorp, Inc. | $3,539,000 | -13.9% | 354,233 | -3.0% | 0.46% | -5.9% |
| ICBK | Sell | County Bancorp, Inc. | $3,421,000 | -15.6% | 181,961 | -6.1% | 0.44% | -8.1% |
| RCBC | Sell | River City Bank | $3,387,000 | -10.1% | 22,181 | -14.6% | 0.44% | -2.0% |
| FBK | Buy | FB Financial Corp. | $3,371,000 | +79.0% | 134,178 | +76.6% | 0.44% | +95.5% |
| PSBQ | Sell | PSB Holdings, Inc. | $3,348,000 | -9.6% | 185,975 | -6.8% | 0.44% | -1.4% |
| YRKB | Sell | York Traditions Bank | $3,287,000 | -12.3% | 240,599 | -0.8% | 0.43% | -4.3% |
| Sell | American Riviera Bank | $3,005,000 | -25.4% | 248,377 | -24.4% | 0.39% | -18.8% | |
| OVLY | Sell | Oak Valley Bancorp | $2,859,000 | -12.0% | 249,464 | -2.6% | 0.37% | -4.1% |
| BOCH | Sell | Bank of Commerce Holdings | $2,853,000 | -32.5% | 409,285 | -26.6% | 0.37% | -26.2% |
| PBNK | Buy | Pinnacle Bank | $2,766,000 | +4.4% | 395,179 | +12.9% | 0.36% | +13.6% |
| FCOB | Buy | 1st Colonial Bancorp | $2,633,000 | +10.1% | 478,658 | +2.5% | 0.34% | +20.0% |
| Buy | First Reliance Bancshares, Inc. | $2,624,000 | +27.9% | 433,766 | +7.2% | 0.34% | +39.8% | |
| BKOR | Buy | Oak Ridge Financial Services, Inc. | $2,563,000 | -3.2% | 231,341 | +2.4% | 0.33% | +5.7% |
| CCNE | Sell | CNB Financial Corporation | $2,377,000 | -24.5% | 159,822 | -9.0% | 0.31% | -17.6% |
| MVLY | Buy | Mission Valley Bancorp | $2,361,000 | -9.6% | 308,252 | +8.0% | 0.31% | -1.3% |
| PLBN | Buy | Pilot Bancshares, Inc. | $2,302,000 | +14.8% | 846,429 | +9.7% | 0.30% | +25.1% |
| AMRB | Buy | American River Bankshares | $2,068,000 | +38.1% | 207,602 | +47.6% | 0.27% | +51.1% |
| SSBI | Sell | Summit State Bank | $2,039,000 | +4.7% | 182,901 | -15.7% | 0.26% | +14.2% |
| Buy | Professional Holding Corp. | $2,012,000 | +45.0% | 150,000 | +50.0% | 0.26% | +58.2% | |
| Sell | Two Rivers Financial Group, Inc. | $1,956,000 | -5.8% | 79,828 | -3.9% | 0.25% | +2.8% | |
| Buy | White River Bancshares Company | $1,932,000 | +6.2% | 40,625 | +6.1% | 0.25% | +15.7% | |
| CYFL | Sell | Century Financial Corporation | $1,904,000 | -13.5% | 104,346 | -11.2% | 0.25% | -5.7% |
| PMHG | Buy | Prime Meridian Holding Company | $1,844,000 | +30.1% | 131,717 | +27.4% | 0.24% | +41.4% |
| SSB | Sell | South State Corporation | $1,817,000 | -20.1% | 37,732 | -21.0% | 0.24% | -12.9% |
| FHN | New | First Horizon National Corporation | $1,542,000 | – | 163,505 | – | 0.20% | – |
| CYSM | Sell | Community Bancorp of Santa Maria | $1,540,000 | -11.4% | 179,048 | -5.8% | 0.20% | -3.4% |
| CCBC | Buy | Chino Commercial Bancorp | $1,460,000 | +5.0% | 149,733 | +1.2% | 0.19% | +14.5% |
| New | First Southern Bank | $1,300,000 | – | 162,500 | – | 0.17% | – | |
| FVCB | Buy | First Virginia Community Bank | $1,217,000 | +205.8% | 121,687 | +228.9% | 0.16% | +236.2% |
| LWCL | New | Lewis & Clark Bancorp | $1,179,000 | – | 59,388 | – | 0.15% | – |
| MVBF | Sell | MVB Financial Corp. | $1,152,000 | -34.0% | 72,145 | -45.0% | 0.15% | -27.9% |
| GRRB | Sell | GrandSouth Bancorporation | $1,086,000 | -18.6% | 78,200 | -12.9% | 0.14% | -11.3% |
| EFSI | Sell | Eagle Financial Services Inc. | $1,074,000 | -15.4% | 42,633 | -13.6% | 0.14% | -7.9% |
| UCBI | New | United Community Banks, Inc. | $1,062,000 | – | 62,700 | – | 0.14% | – |
| PCLB | Sell | Pinnacle Bancshares, Inc. | $1,055,000 | -5.0% | 36,367 | -7.6% | 0.14% | +3.8% |
| VBFC | Sell | Village Bank and Trust Financial Corp. | $685,000 | -39.3% | 22,838 | -37.5% | 0.09% | -33.6% |
| MOFG | Sell | MidWestOne Financial Group, Inc. | $654,000 | -23.5% | 36,600 | -14.4% | 0.08% | -16.7% |
| FBSS | Sell | Fauquier Bancshares, Inc. | $633,000 | -10.5% | 42,061 | -16.2% | 0.08% | -2.4% |
| RVSB | Sell | Riverview Bancorp, Inc. | $607,000 | -30.0% | 146,288 | -4.7% | 0.08% | -23.3% |
| LFGP | Sell | Ledyard Financial Group, Inc. | $466,000 | -17.5% | 28,249 | -8.7% | 0.06% | -9.0% |
| CBTX | New | CBTX, Inc. | $428,000 | – | 26,200 | – | 0.06% | – |
| FCCO | New | First Community Corporation | $434,000 | – | 31,813 | – | 0.06% | – |
| FXNC | Sell | First National Corporation | $189,000 | -31.0% | 13,385 | -32.2% | 0.02% | -24.2% |
| HBMD | Sell | Howard Bancorp, Inc. | $162,000 | -45.6% | 18,037 | -35.7% | 0.02% | -40.0% |
| Sell | Summit Bank | $143,000 | -21.4% | 13,900 | -8.6% | 0.02% | -13.6% | |
| PBCO | Sell | People's Bank of Commerce | $93,000 | -70.9% | 8,848 | -66.8% | 0.01% | -68.4% |
| UIHC | Exit | United Insurance Holdings Corp. | $0 | – | -29,269 | – | -0.03% | – |
| Exit | Lewis & Clark Bank | $0 | – | -22,388 | – | -0.05% | – | |
| BSCA | Exit | Bank of Santa Clarita | $0 | – | -48,319 | – | -0.05% | – |
| FNHC | Exit | FedNat Holding Company | $0 | – | -43,568 | – | -0.06% | – |
| SOBS | Exit | Solvay Bank Corporation | $0 | – | -15,418 | – | -0.06% | – |
| ESXB | Exit | Community Bankers Trust Corporation | $0 | – | -98,297 | – | -0.06% | – |
| JMSB | Exit | John Marshall Bank | $0 | – | -51,775 | – | -0.07% | – |
| CFST | Exit | Communities First Financial Corporation | $0 | – | -31,694 | – | -0.09% | – |
| Exit | Three Shores Bancorporation, Inc. | $0 | – | -190,000 | – | -0.15% | – | |
| Exit | Embassy Bancorp, Inc. | $0 | – | -113,637 | – | -0.17% | – | |
| FSB | Exit | Franklin Financial Network, Inc. | $0 | – | -60,289 | – | -0.18% | – |
| IBKC | Exit | Iberiabank Corp | $0 | – | -35,669 | – | -0.19% | – |
| FISB | Exit | 1st Capital Bank | $0 | – | -441,732 | – | -0.50% | – |
| SBBX | Exit | SB One Bancorp | $0 | – | -790,125 | – | -1.85% | – |
Q2 2020
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| FFWM | New | First Foundation Inc. | $18,640,000 | – | 1,140,760 | – | 2.22% | – |
| PGC | New | Peapack-Gladstone Financial Corporation | $16,565,000 | – | 884,391 | – | 1.97% | – |
| SFST | New | Southern First Bancshares, Inc. | $16,473,000 | – | 594,462 | – | 1.96% | – |
| SASR | New | Sandy Spring Bancorp Inc. | $16,032,000 | – | 646,981 | – | 1.91% | – |
| SBBX | New | SB One Bancorp | $15,565,000 | – | 790,125 | – | 1.85% | – |
| LBAI | New | Lakeland Bancorp, Inc. | $14,499,000 | – | 1,268,516 | – | 1.73% | – |
| CFB | New | CrossFirst Bankshares, Inc. | $14,379,000 | – | 1,470,289 | – | 1.71% | – |
| OSBC | New | Old Second Bancorp, Inc. | $13,892,000 | – | 1,785,600 | – | 1.65% | – |
| TSC | New | TriState Capital Holdings, Inc. | $13,711,000 | – | 872,785 | – | 1.63% | – |
| BY | New | Byline Bancorp, Inc. | $13,498,000 | – | 1,030,360 | – | 1.61% | – |
| MBWM | New | Mercantile Bank Corporation | $13,232,000 | – | 585,484 | – | 1.58% | – |
| FBIZ | New | First Business Financial Services | $11,897,000 | – | 723,232 | – | 1.42% | – |
| BPFH | New | Boston Private Financial Holdings, Inc. | $11,637,000 | – | 1,691,454 | – | 1.39% | – |
| UNTY | New | Unity Bancorp, Inc. | $11,606,000 | – | 811,596 | – | 1.38% | – |
| WTBFB | New | W.T.B. Financial Corporation | $11,242,000 | – | 40,294 | – | 1.34% | – |
| SONA | New | Southern National Bancorp of Virginia,Inc. | $11,214,000 | – | 1,157,295 | – | 1.34% | – |
| FCBP | New | First Choice Bancorp | $11,162,000 | – | 681,419 | – | 1.33% | – |
| FBMS | New | First Bancshares, Inc. | $10,860,000 | – | 482,681 | – | 1.29% | – |
| ISTR | New | Investar Holding Corporation | $10,695,000 | – | 737,594 | – | 1.27% | – |
| HBT | New | HBT Financial, Inc. | $10,552,000 | – | 791,614 | – | 1.26% | – |
| AMBZ | New | American Business Bank | $10,331,000 | – | 412,421 | – | 1.23% | – |
| CVLY | New | Codorus Valley Bancorp, Inc. | $9,220,000 | – | 666,669 | – | 1.10% | – |
| TBK | New | Triumph Bancorp, Inc. | $9,144,000 | – | 376,749 | – | 1.09% | – |
| MYFW | New | First Western Financial, Inc. | $9,094,000 | – | 638,207 | – | 1.08% | – |
| SMBK | New | SmartFinancial, Inc. | $8,922,000 | – | 551,430 | – | 1.06% | – |
| MRBK | New | Meridian Bank | $8,615,000 | – | 543,539 | – | 1.03% | – |
| AVBH | New | Avidbank Holdings, Inc. | $8,368,000 | – | 563,104 | – | 1.00% | – |
| RBNC | New | Reliant Bancorp, Inc. | $8,350,000 | – | 512,561 | – | 0.99% | – |
| FRBA | New | First Bank | $8,315,000 | – | 1,275,264 | – | 0.99% | – |
| VBTX | New | Veritex Holdings, Inc. | $8,220,000 | – | 464,412 | – | 0.98% | – |
| STXB | New | Spirit of Texas Bancshares, Inc. | $8,133,000 | – | 660,705 | – | 0.97% | – |
| New | Suncrest Bank | $8,122,000 | – | 982,152 | – | 0.97% | – | |
| MNSB | New | MainStreet Bancshares, Inc. | $8,121,000 | – | 615,241 | – | 0.97% | – |
| BCAL | New | Southern California Bancorp | $7,989,000 | – | 827,901 | – | 0.95% | – |
| BFST | New | Business First Bancshares, Inc. | $7,972,000 | – | 519,349 | – | 0.95% | – |
| MLVF | New | Malvern Bancorp, Inc. | $7,876,000 | – | 618,699 | – | 0.94% | – |
| FCCY | New | 1st Constitution Bancorp | $7,609,000 | – | 613,656 | – | 0.91% | – |
| OBNK | New | Origin Bancorp Inc. | $7,606,000 | – | 345,708 | – | 0.91% | – |
| EBTC | New | Enterprise Bancorp, Inc. | $7,502,000 | – | 314,955 | – | 0.89% | – |
| CNOB | New | ConnectOne Bancorp, Inc. | $7,397,000 | – | 458,881 | – | 0.88% | – |
| SBNC | New | Southern BancShares (N.C.), Inc. | $7,336,000 | – | 2,096 | – | 0.87% | – |
| FNRN | New | First Northern Community Bancorp | $7,060,000 | – | 872,653 | – | 0.84% | – |
| LEVL | New | Level One Bancorp, Inc. | $6,963,000 | – | 415,959 | – | 0.83% | – |
| CATC | New | Cambridge Bancorp | $6,955,000 | – | 117,396 | – | 0.83% | – |
| PBAM | New | Private Bancorp of America, Inc. | $6,815,000 | – | 540,909 | – | 0.81% | – |
| SAMG | New | Silvercrest Asset Management Group Inc. | $6,582,000 | – | 517,858 | – | 0.78% | – |
| CALB | New | California BanCorp | $6,386,000 | – | 428,562 | – | 0.76% | – |
| SHBI | New | Shore Bancshares, Inc. | $6,309,000 | – | 568,916 | – | 0.75% | – |
| FETM | New | Fentura Financial, Inc. | $6,288,000 | – | 362,445 | – | 0.75% | – |
| CZWI | New | Citizens Community Bancorp, Inc. | $6,225,000 | – | 907,507 | – | 0.74% | – |
| MFGI | New | Merchants Financial Group, Inc. | $6,198,000 | – | 116,949 | – | 0.74% | – |
| ABTX | New | Allegiance Bancshares, Inc. | $6,123,000 | – | 241,162 | – | 0.73% | – |
| SNV | New | Synovus Financial Corp. | $5,981,000 | – | 291,320 | – | 0.71% | – |
| BPRN | New | Bank of Princeton | $5,693,000 | – | 283,521 | – | 0.68% | – |
| MCB | New | Metropolitan Bank Holding Corp. | $5,651,000 | – | 176,161 | – | 0.67% | – |
| MBIN | New | Merchants Bancorp | $5,434,000 | – | 293,915 | – | 0.65% | – |
| New | Centric Financial Corporation | $5,367,000 | – | 783,506 | – | 0.64% | – | |
| FRBK | New | Republic First Bancorp, Inc. | $5,235,000 | – | 2,145,576 | – | 0.62% | – |
| EGBN | New | Eagle Bancorp, Inc. | $5,036,000 | – | 153,777 | – | 0.60% | – |
| New | Mountain Commerce Bancorp | $4,890,000 | – | 307,553 | – | 0.58% | – | |
| NWYF | New | Northway Financial, Inc. | $4,742,000 | – | 201,623 | – | 0.56% | – |
| PFLC | New | Pacific Financial Corporation | $4,671,000 | – | 636,314 | – | 0.56% | – |
| LMST | New | Limestone Bancorp, Inc. | $4,587,000 | – | 348,846 | – | 0.55% | – |
| FNBT | New | FineMark Holdings, Inc. | $4,536,000 | – | 210,000 | – | 0.54% | – |
| BWFG | New | Bankwell Financial Group, Inc. | $4,376,000 | – | 275,193 | – | 0.52% | – |
| TCFC | New | Community Financial Corporation | $4,259,000 | – | 174,532 | – | 0.51% | – |
| ALRS | New | Alerus Financial Corporation | $4,248,000 | – | 215,000 | – | 0.51% | – |
| BOCH | New | Bank of Commerce Holdings | $4,224,000 | – | 557,273 | – | 0.50% | – |
| FISB | New | 1st Capital Bank | $4,219,000 | – | 441,732 | – | 0.50% | – |
| New | Community Bank of the Bay | $4,204,000 | – | 826,007 | – | 0.50% | – | |
| INBK | New | First Internet Bancorp | $4,204,000 | – | 252,950 | – | 0.50% | – |
| CBWA | New | Commencement Bank | $4,109,000 | – | 365,233 | – | 0.49% | – |
| DCOM | New | Dime Community Bancshares, Inc. | $4,091,000 | – | 297,976 | – | 0.49% | – |
| ICBK | New | County Bancorp, Inc. | $4,055,000 | – | 193,737 | – | 0.48% | – |
| New | American Riviera Bank | $4,027,000 | – | 328,740 | – | 0.48% | – | |
| TGRF | New | TGR Financial, Inc. | $3,971,000 | – | 451,195 | – | 0.47% | – |
| OCBI | New | Orange County Bancorp | $3,940,000 | – | 165,883 | – | 0.47% | – |
| PMBC | New | Pacific Mercantile Bancorp | $3,936,000 | – | 1,075,521 | – | 0.47% | – |
| CSHX | New | Cashmere Valley Bank | $3,879,000 | – | 90,203 | – | 0.46% | – |
| BAYK | New | Bay Banks of Virginia, Inc. | $3,812,000 | – | 635,322 | – | 0.45% | – |
| QNBC | New | QNB Corp. | $3,796,000 | – | 134,364 | – | 0.45% | – |
| RCBC | New | River City Bank | $3,767,000 | – | 25,962 | – | 0.45% | – |
| YRKB | New | York Traditions Bank | $3,747,000 | – | 242,499 | – | 0.45% | – |
| PSBQ | New | PSB Holdings, Inc. | $3,703,000 | – | 199,613 | – | 0.44% | – |
| FGFH | New | Foresight Financial Group, Inc. | $3,697,000 | – | 139,524 | – | 0.44% | – |
| BDGE | New | Bridge Bancorp Inc. | $3,457,000 | – | 151,370 | – | 0.41% | – |
| BRBS | New | Blue Ridge Bankshares, Inc. | $3,422,000 | – | 225,000 | – | 0.41% | – |
| New | Beach Community Bancshares, Inc. | $3,375,000 | – | 900,000 | – | 0.40% | – | |
| WBBW | New | Westbury Bancorp, Inc. | $3,376,000 | – | 175,370 | – | 0.40% | – |
| SABK | New | South Atlantic Bancshares, Inc. | $3,344,000 | – | 372,388 | – | 0.40% | – |
| New | Sevier County Bancshares, Inc. | $3,343,000 | – | 217,675 | – | 0.40% | – | |
| UBSI | New | United Bankshares | $3,264,000 | – | 118,018 | – | 0.39% | – |
| BSRR | New | Sierra Bancorp | $3,262,000 | – | 172,783 | – | 0.39% | – |
| OVLY | New | Oak Valley Bancorp | $3,248,000 | – | 256,172 | – | 0.39% | – |
| CCNE | New | CNB Financial Corporation | $3,150,000 | – | 175,695 | – | 0.38% | – |
| New | Southern States Bancshares, Inc. | $3,134,000 | – | 232,143 | – | 0.37% | – | |
| SBCF | New | Seacoast Banking Corporation of Florida | $3,040,000 | – | 149,042 | – | 0.36% | – |
| NWIN | New | NorthWest Indiana Bancorp | $3,004,000 | – | 91,584 | – | 0.36% | – |
| SPFI | New | South Plains Financial, Inc. | $2,989,000 | – | 209,919 | – | 0.36% | – |
| SCZC | New | Santa Cruz County Bank | $2,914,000 | – | 77,718 | – | 0.35% | – |
| New | Grand River Commerce, Inc. | $2,848,000 | – | 479,538 | – | 0.34% | – | |
| ORPB | New | Oregon Pacific Bancorp | $2,778,000 | – | 677,586 | – | 0.33% | – |
| EQBK | New | Equity Bancshares, Inc. | $2,776,000 | – | 159,156 | – | 0.33% | – |
| EBSB | New | Meridian Interstate Bancorp | $2,698,000 | – | 232,570 | – | 0.32% | – |
| RIVE | New | Riverview Financial Corporation | $2,650,000 | – | 492,634 | – | 0.32% | – |
| PBNK | New | Pinnacle Bank | $2,650,000 | – | 350,066 | – | 0.32% | – |
| BKOR | New | Oak Ridge Financial Services, Inc. | $2,647,000 | – | 225,841 | – | 0.32% | – |
| MVLY | New | Mission Valley Bancorp | $2,612,000 | – | 285,415 | – | 0.31% | – |
| BCBP | New | BCB Bancorp, Inc. | $2,557,000 | – | 275,560 | – | 0.30% | – |
| BWB | New | Bridgewater Bancshares, Inc. | $2,436,000 | – | 237,652 | – | 0.29% | – |
| WNRP | New | West Suburban Bancorp, Inc. | $2,420,000 | – | 6,020 | – | 0.29% | – |
| FCOB | New | 1st Colonial Bancorp | $2,391,000 | – | 467,083 | – | 0.28% | – |
| FRAF | New | Franklin Financial Services Corp. | $2,354,000 | – | 90,901 | – | 0.28% | – |
| SSB | New | South State Corporation | $2,275,000 | – | 47,732 | – | 0.27% | – |
| CYFL | New | Century Financial Corporation | $2,202,000 | – | 117,446 | – | 0.26% | – |
| New | Two Rivers Financial Group, Inc. | $2,076,000 | – | 83,041 | – | 0.25% | – | |
| HTBK | New | Heritage Commerce Corp | $2,050,000 | – | 273,029 | – | 0.24% | – |
| New | First Reliance Bancshares, Inc. | $2,051,000 | – | 404,444 | – | 0.24% | – | |
| New | Metro Phoenix Bank | $2,047,000 | – | 212,767 | – | 0.24% | – | |
| BOTJ | New | Bank of the James Financial Group, Inc. | $2,041,000 | – | 215,934 | – | 0.24% | – |
| SBT | New | Sterling Bancorp, Inc. | $2,029,000 | – | 566,637 | – | 0.24% | – |
| PLBN | New | Pilot Bancshares, Inc. | $2,006,000 | – | 771,429 | – | 0.24% | – |
| KTYB | New | Kentucky Bancshares, Inc. | $2,001,000 | – | 120,424 | – | 0.24% | – |
| New | CoastalSouth Bancshares, Inc. | $1,963,000 | – | 204,249 | – | 0.23% | – | |
| New | Pacific West Bank | $1,950,000 | – | 185,715 | – | 0.23% | – | |
| SSBI | New | Summit State Bank | $1,947,000 | – | 217,051 | – | 0.23% | – |
| New | Peoples Bancorp | $1,916,000 | – | 14,737 | – | 0.23% | – | |
| FBK | New | FB Financial Corp. | $1,883,000 | – | 76,000 | – | 0.22% | – |
| BFTL | New | Bank of Fincastle | $1,836,000 | – | 892,972 | – | 0.22% | – |
| New | White River Bancshares Company | $1,819,000 | – | 38,280 | – | 0.22% | – | |
| PPBN | New | Pinnacle Bankshares Corporation | $1,797,000 | – | 87,030 | – | 0.21% | – |
| New | Citizens Bancorp | $1,749,000 | – | 122,749 | – | 0.21% | – | |
| MVBF | New | MVB Financial Corp. | $1,745,000 | – | 131,196 | – | 0.21% | – |
| SOUB | New | SouthPoint Bancshares, Inc. | $1,740,000 | – | 104,826 | – | 0.21% | – |
| CYSM | New | Community Bancorp of Santa Maria | $1,738,000 | – | 190,148 | – | 0.21% | – |
| CCNB | New | Coastal Carolina Bancshares, Inc. | $1,731,000 | – | 288,461 | – | 0.21% | – |
| New | FNS Bancshares, Inc. | $1,677,000 | – | 23,950 | – | 0.20% | – | |
| IBKC | New | Iberiabank Corp | $1,624,000 | – | 35,669 | – | 0.19% | – |
| SCSG | New | SouthCrest Financial Group, Inc. | $1,592,000 | – | 267,161 | – | 0.19% | – |
| FSB | New | Franklin Financial Network, Inc. | $1,552,000 | – | 60,289 | – | 0.18% | – |
| New | Pioneer Bancshares, Inc | $1,528,000 | – | 97,000 | – | 0.18% | – | |
| CMHF | New | Community Heritage Financial Inc. | $1,502,000 | – | 79,474 | – | 0.18% | – |
| AMRB | New | American River Bankshares | $1,498,000 | – | 140,623 | – | 0.18% | – |
| RRBI | New | Red River Bancshares, Inc. | $1,463,000 | – | 33,334 | – | 0.17% | – |
| CCB | New | CCB Financial | $1,452,000 | – | 100,000 | – | 0.17% | – |
| New | Embassy Bancorp, Inc. | $1,438,000 | – | 113,637 | – | 0.17% | – | |
| ESBS | New | ES Bancshares, Inc. | $1,424,000 | – | 361,445 | – | 0.17% | – |
| PMHG | New | Prime Meridian Holding Company | $1,417,000 | – | 103,417 | – | 0.17% | – |
| TRCY | New | Tri City Bankshares Corporation | $1,409,000 | – | 89,223 | – | 0.17% | – |
| CCBC | New | Chino Commercial Bancorp | $1,391,000 | – | 147,926 | – | 0.17% | – |
| MPB | New | Mid Penn Bank | $1,386,000 | – | 75,222 | – | 0.16% | – |
| UVSP | New | Univest Financial Corporation | $1,387,000 | – | 85,952 | – | 0.16% | – |
| New | Professional Holding Corp. | $1,388,000 | – | 100,000 | – | 0.16% | – | |
| New | McHenry Bancorp, Inc. | $1,350,000 | – | 15,000,000 | – | 0.16% | – | |
| GRRB | New | GrandSouth Bancorporation | $1,334,000 | – | 89,800 | – | 0.16% | – |
| EFSI | New | Eagle Financial Services Inc. | $1,269,000 | – | 49,365 | – | 0.15% | – |
| New | First Home Bancorp, Inc. | $1,265,000 | – | 89,062 | – | 0.15% | – | |
| New | Three Shores Bancorporation, Inc. | $1,267,000 | – | 190,000 | – | 0.15% | – | |
| VBFC | New | Village Bank and Trust Financial Corp. | $1,128,000 | – | 36,538 | – | 0.13% | – |
| PCLB | New | Pinnacle Bancshares, Inc. | $1,110,000 | – | 39,367 | – | 0.13% | – |
| MBCN | New | Middlefield Banc Corp. | $1,074,000 | – | 51,748 | – | 0.13% | – |
| BORT | New | Bank of Botetourt | $1,019,000 | – | 42,005 | – | 0.12% | – |
| AMFC | New | AMB Financial Corp. | $984,000 | – | 78,750 | – | 0.12% | – |
| FMCB | New | Farmers & Merchants Bancorp | $863,000 | – | 1,222 | – | 0.10% | – |
| RVSB | New | Riverview Bancorp, Inc. | $867,000 | – | 153,516 | – | 0.10% | – |
| MOFG | New | MidWestOne Financial Group, Inc. | $855,000 | – | 42,764 | – | 0.10% | – |
| UBAB | New | United Bancorporation of Alabama, Inc. | $812,000 | – | 40,000 | – | 0.10% | – |
| CNBW | New | CNB Corporation | $784,000 | – | 12,551 | – | 0.09% | – |
| CBNK | New | Capital Bancorp, Inc. | $741,000 | – | 69,222 | – | 0.09% | – |
| CFST | New | Communities First Financial Corporation | $729,000 | – | 31,694 | – | 0.09% | – |
| FBSS | New | Fauquier Bancshares, Inc. | $707,000 | – | 50,177 | – | 0.08% | – |
| SRYB | New | Surrey Bancorp | $679,000 | – | 63,785 | – | 0.08% | – |
| WSBC | New | WesBanco, Inc. | $649,000 | – | 31,934 | – | 0.08% | – |
| PTBS | New | Potomac Bancshares, Inc. | $608,000 | – | 57,405 | – | 0.07% | – |
| CYVF | New | Crystal Valley Financial | $585,000 | – | 13,000 | – | 0.07% | – |
| JMSB | New | John Marshall Bank | $570,000 | – | 51,775 | – | 0.07% | – |
| LFGP | New | Ledyard Financial Group, Inc. | $565,000 | – | 30,951 | – | 0.07% | – |
| ESXB | New | Community Bankers Trust Corporation | $541,000 | – | 98,297 | – | 0.06% | – |
| FCIT | New | First Citrus Bancorporation, Inc. | $526,000 | – | 27,695 | – | 0.06% | – |
| SOBS | New | Solvay Bank Corporation | $509,000 | – | 15,418 | – | 0.06% | – |
| EMPK | New | Empire Bancorp Inc. | $506,000 | – | 49,188 | – | 0.06% | – |
| FNHC | New | FedNat Holding Company | $482,000 | – | 43,568 | – | 0.06% | – |
| New | Lewis & Clark Bank | $448,000 | – | 22,388 | – | 0.05% | – | |
| VABK | New | Virginia National Bankshares Corp. | $446,000 | – | 17,662 | – | 0.05% | – |
| BSCA | New | Bank of Santa Clarita | $447,000 | – | 48,319 | – | 0.05% | – |
| FVCB | New | First Virginia Community Bank | $398,000 | – | 37,000 | – | 0.05% | – |
| FFMH | New | First Farmers and Merchants Corporation | $385,000 | – | 12,500 | – | 0.05% | – |
| PBCO | New | People's Bank of Commerce | $320,000 | – | 26,648 | – | 0.04% | – |
| HBMD | New | Howard Bancorp, Inc. | $298,000 | – | 28,037 | – | 0.04% | – |
| FXNC | New | First National Corporation | $274,000 | – | 19,730 | – | 0.03% | – |
| CFOK | New | Community First Bancorporation | $255,000 | – | 41,744 | – | 0.03% | – |
| UIHC | New | United Insurance Holdings Corp. | $229,000 | – | 29,269 | – | 0.03% | – |
| TWCF | New | Town and Country Financial Corporation | $197,000 | – | 10,914 | – | 0.02% | – |
| New | Summit Bank | $182,000 | – | 15,200 | – | 0.02% | – | |
| BLHK | New | Blueharbor bank | $92,000 | – | 10,800 | – | 0.01% | – |
Q4 2019
Q3 2019
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| PGC | Sell | Peapack-Gladstone Financial Corporation | $31,231,000 | -6.2% | 1,114,214 | -5.9% | 2.36% | -8.2% |
| SFST | Buy | Southern First Bancshares, Inc. | $29,435,000 | +20.1% | 738,654 | +18.1% | 2.22% | +17.5% |
| MBWM | Sell | Mercantile Bank Corporation | $28,370,000 | -5.8% | 864,936 | -6.4% | 2.14% | -7.9% |
| SASR | Sell | Sandy Spring Bancorp Inc. | $27,360,000 | -7.1% | 811,635 | -3.9% | 2.06% | -9.2% |
| TSC | Sell | TriState Capital Holdings, Inc. | $27,172,000 | -5.3% | 1,291,466 | -4.0% | 2.05% | -7.4% |
| OSBC | Buy | Old Second Bancorp, Inc. | $25,833,000 | +2.6% | 2,113,973 | +7.2% | 1.95% | +0.3% |
| LBAI | Buy | Lakeland Bancorp, Inc. | $23,346,000 | +0.5% | 1,513,027 | +5.2% | 1.76% | -1.7% |
| FFWM | Buy | First Foundation Inc. | $22,364,000 | +15.6% | 1,464,601 | +1.7% | 1.69% | +13.1% |
| CSFL | Sell | CenterState Bank Corporation | $20,981,000 | +3.0% | 874,562 | -1.1% | 1.58% | +0.7% |
| BPFH | Buy | Boston Private Financial Holdings, Inc. | $20,672,000 | +4.2% | 1,772,893 | +7.9% | 1.56% | +1.9% |
| SONA | Sell | Southern National Bancorp of Virginia,Inc. | $20,628,000 | -1.4% | 1,340,319 | -1.9% | 1.56% | -3.5% |
| UNTY | Sell | Unity Bancorp, Inc. | $18,973,000 | -3.2% | 856,568 | -0.8% | 1.43% | -5.4% |
| SBBX | Buy | SB One Bancorp | $18,954,000 | +1.0% | 840,148 | +0.1% | 1.43% | -1.2% |
| VBTX | Sell | Veritex Holdings, Inc. | $18,844,000 | -10.5% | 776,755 | -4.3% | 1.42% | -12.5% |
| FBIZ | Buy | First Business Financial Services | $16,819,000 | +4.3% | 698,463 | +1.8% | 1.27% | +2.0% |
| FRBA | Sell | First Bank | $16,421,000 | -8.7% | 1,516,264 | -1.0% | 1.24% | -10.7% |
| ABCB | New | Ameris Bancorp | $16,205,000 | – | 402,711 | – | 1.22% | – |
| TBK | Sell | Triumph Bancorp, Inc. | $15,137,000 | +7.5% | 474,661 | -2.1% | 1.14% | +5.2% |
| LEVL | Buy | Level One Bancorp, Inc. | $15,025,000 | +5.3% | 622,929 | +9.1% | 1.13% | +3.0% |
| CVLY | Buy | Codorus Valley Bancorp, Inc. | $15,008,000 | +2.9% | 645,224 | +1.7% | 1.13% | +0.5% |
| WTBFB | Buy | W.T.B. Financial Corporation | $14,574,000 | +35.3% | 41,285 | +5.2% | 1.10% | +32.4% |
| FCBP | Buy | First Choice Bancorp | $14,514,000 | -6.0% | 680,759 | +0.2% | 1.10% | -8.1% |
| ABTX | Buy | Allegiance Bancshares, Inc. | $14,048,000 | +3.1% | 437,758 | +7.1% | 1.06% | +0.8% |
| OBNK | Sell | Origin Bancorp Inc. | $13,701,000 | -2.6% | 406,064 | -4.7% | 1.03% | -4.7% |
| CNOB | Sell | ConnectOne Bancorp, Inc. | $13,604,000 | -5.6% | 612,793 | -3.7% | 1.03% | -7.6% |
| CFB | New | CrossFirst Bankshares, Inc. | $13,345,000 | – | 932,539 | – | 1.01% | – |
| MNSB | Sell | MainStreet Bancshares, Inc. | $12,376,000 | -8.0% | 587,941 | -0.4% | 0.93% | -10.0% |
| STXB | Buy | Spirit of Texas Bancshares, Inc. | $12,178,000 | +273.0% | 565,100 | +289.5% | 0.92% | +264.7% |
| SMBK | Buy | SmartFinancial, Inc. | $11,808,000 | +9.3% | 566,877 | +13.8% | 0.89% | +7.0% |
| ISTR | Sell | Investar Holding Corporation | $11,533,000 | -2.7% | 484,598 | -2.5% | 0.87% | -4.8% |
| MLVF | Sell | Malvern Bancorp, Inc. | $11,442,000 | -2.1% | 524,142 | -1.3% | 0.86% | -4.3% |
| FCCY | Buy | 1st Constitution Bancorp | $11,315,000 | +15.7% | 603,456 | +14.0% | 0.85% | +13.1% |
| Buy | Suncrest Bank | $10,710,000 | +11.3% | 971,883 | +0.4% | 0.81% | +8.9% | |
| SBCF | Sell | Seacoast Banking Corporation of Florida | $10,292,000 | -5.6% | 406,639 | -5.1% | 0.78% | -7.6% |
| PBAM | Buy | Private Bancorp of America, Inc. | $10,096,000 | -7.6% | 497,109 | +1.6% | 0.76% | -9.6% |
| MRBK | Buy | Meridian Bank | $9,939,000 | +18.4% | 559,964 | +12.8% | 0.75% | +15.7% |
| EBTC | Buy | Enterprise Bancorp, Inc. | $9,530,000 | +12.1% | 317,869 | +18.6% | 0.72% | +9.6% |
| DCOM | Buy | Dime Community Bancshares, Inc. | $9,155,000 | +39.7% | 427,600 | +23.9% | 0.69% | +36.6% |
| QCRH | Sell | QCR Holdings, Inc. | $9,163,000 | -4.2% | 241,261 | -12.0% | 0.69% | -6.4% |
| SHBI | Buy | Shore Bancshares, Inc. | $8,582,000 | -4.8% | 556,916 | +0.9% | 0.65% | -6.9% |
| SNV | Buy | Synovus Financial Corp. | $8,451,000 | +19.9% | 236,320 | +17.4% | 0.64% | +17.3% |
| MVBF | Sell | MVB Financial Corp. | $8,225,000 | +14.8% | 414,375 | -1.9% | 0.62% | +12.3% |
| CCNE | Sell | CNB Financial Corporation | $7,913,000 | -7.5% | 275,714 | -9.0% | 0.60% | -9.5% |
| WSBF | Sell | Waterstone Financial, Inc. | $7,790,000 | -8.8% | 453,456 | -9.4% | 0.59% | -10.8% |
| Buy | Bank of Southern California, N. A. | $7,684,000 | +26.2% | 618,680 | +1.1% | 0.58% | +23.4% | |
| SBNC | Buy | Southern BancShares (N.C.), Inc. | $7,653,000 | +37.2% | 2,038 | +2.2% | 0.58% | +34.2% |
| AVBH | Buy | Avidbank Holdings, Inc. | $7,512,000 | +10.7% | 313,012 | +4.6% | 0.57% | +8.2% |
| MCB | Buy | Metropolitan Bank Holding Corp. | $7,260,000 | +3.1% | 184,592 | +15.4% | 0.55% | +0.9% |
| FNRN | Buy | First Northern Community Bancorp | $7,218,000 | +20.3% | 653,212 | +10.7% | 0.54% | +17.7% |
| OLBK | Sell | Old Line Bancshares, Inc. | $7,097,000 | -30.0% | 244,634 | -35.8% | 0.54% | -31.5% |
| BDGE | Buy | Bridge Bancorp Inc. | $7,026,000 | +4.6% | 237,689 | +4.2% | 0.53% | +2.3% |
| Buy | Centric Financial Corporation | $6,951,000 | +45.1% | 716,563 | +13.2% | 0.52% | +41.9% | |
| Sell | Mountain Commerce Bancorp | $6,923,000 | +3.7% | 362,453 | -0.8% | 0.52% | +1.4% | |
| NWYF | Buy | Northway Financial, Inc. | $6,859,000 | +45.8% | 216,442 | +26.6% | 0.52% | +42.7% |
| EQBK | Sell | Equity Bancshares, Inc. | $6,847,000 | -12.2% | 255,397 | -12.7% | 0.52% | -14.1% |
| MFGI | Buy | Merchants Financial Group, Inc. | $6,288,000 | +36.6% | 86,437 | +2.1% | 0.47% | +33.5% |
| CZWI | Buy | Citizens Community Bancorp, Inc. | $6,042,000 | +54.1% | 545,773 | +50.8% | 0.46% | +50.5% |
| ICBK | Buy | County Bancorp, Inc. | $6,031,000 | +19.3% | 307,385 | +3.9% | 0.46% | +16.7% |
| AMBZ | Buy | American Business Bank | $6,005,000 | +25.2% | 176,054 | +14.0% | 0.45% | +22.4% |
| Sell | American Riviera Bank | $5,818,000 | +1.8% | 325,940 | -3.0% | 0.44% | -0.5% | |
| OVLY | Sell | Oak Valley Bancorp | $5,813,000 | -18.8% | 346,659 | -5.4% | 0.44% | -20.6% |
| QNBC | Sell | QNB Corp. | $5,747,000 | +6.6% | 157,223 | -2.5% | 0.43% | +4.3% |
| FGFH | Sell | Foresight Financial Group, Inc. | $5,699,000 | -17.2% | 160,524 | -31.1% | 0.43% | -19.0% |
| BOCH | Sell | Bank of Commerce Holdings | $5,650,000 | -2.1% | 518,866 | -3.9% | 0.43% | -4.3% |
| PFLC | Sell | Pacific Financial Corporation | $5,628,000 | +9.7% | 500,266 | -3.3% | 0.42% | +7.3% |
| FETM | Buy | Fentura Financial, Inc. | $5,552,000 | +18.9% | 264,370 | +1.4% | 0.42% | +16.4% |
| RIVE | Buy | Riverview Financial Corporation | $5,044,000 | +51.3% | 431,816 | +36.0% | 0.38% | +48.2% |
| FNBT | Buy | FineMark Holdings, Inc. | $4,947,000 | +33.7% | 197,100 | +2.9% | 0.37% | +30.4% |
| LMST | Buy | Limestone Bancorp, Inc. | $4,888,000 | +14.7% | 316,802 | +13.4% | 0.37% | +12.2% |
| Buy | Community Bank of the Bay | $4,806,000 | +12.5% | 695,207 | +0.6% | 0.36% | +10.0% | |
| FVCB | Sell | First Virginia Community Bank | $4,800,000 | -19.4% | 273,366 | -10.9% | 0.36% | -21.3% |
| ALRS | New | Alerus Financial Corporation | $4,687,000 | – | 215,000 | – | 0.35% | – |
| BAYK | Buy | Bay Banks of Virginia, Inc. | $4,536,000 | +24.9% | 551,178 | +18.5% | 0.34% | +22.1% |
| FMBI | Sell | First Midwest Bancorp, Inc. | $4,515,000 | -31.4% | 231,766 | -27.9% | 0.34% | -32.9% |
| FCOB | Sell | 1st Colonial Bancorp | $4,477,000 | -0.4% | 432,524 | -1.1% | 0.34% | -2.6% |
| MBIN | Buy | Merchants Bancorp | $4,374,000 | -0.1% | 264,463 | +2.8% | 0.33% | -2.4% |
| EBSB | Sell | Meridian Interstate Bancorp | $4,361,000 | -0.5% | 232,570 | -5.1% | 0.33% | -2.7% |
| CBWA | Buy | Commencement Bank | $4,269,000 | +26.3% | 305,133 | +22.5% | 0.32% | +23.4% |
| ESXB | Sell | Community Bankers Trust Corporation | $4,160,000 | -3.5% | 483,704 | -4.9% | 0.31% | -5.4% |
| BWB | Buy | Bridgewater Bancshares, Inc. | $3,841,000 | +24.8% | 321,652 | +20.6% | 0.29% | +22.4% |
| FISB | Sell | 1st Capital Bank | $3,834,000 | +1.3% | 239,471 | -7.4% | 0.29% | -1.0% |
| NCBS | Sell | Nicolet Bankshares, Inc. | $3,781,000 | -60.7% | 56,791 | -63.4% | 0.28% | -61.6% |
| MVLY | Sell | Mission Valley Bancorp | $3,711,000 | +16.7% | 270,840 | -1.8% | 0.28% | +14.3% |
| FSB | Sell | Franklin Financial Network, Inc. | $3,652,000 | -11.3% | 120,889 | -18.2% | 0.28% | -13.2% |
| FRAF | Sell | Franklin Financial Services Corp. | $3,600,000 | -23.6% | 101,252 | -18.1% | 0.27% | -25.3% |
| LGHT | Buy | Lighthouse Bank | $3,594,000 | +30.8% | 137,977 | +20.5% | 0.27% | +27.8% |
| PBNK | Buy | Pinnacle Bank | $3,520,000 | +13.0% | 305,566 | +1.3% | 0.27% | +10.8% |
| UVSP | Sell | Univest Financial Corporation | $3,483,000 | -30.0% | 136,526 | -27.9% | 0.26% | -31.5% |
| PEBO | Sell | Peoples Bancorp Inc. | $3,484,000 | -50.7% | 109,536 | -50.0% | 0.26% | -51.8% |
| CART | Sell | Carolina Trust BancShares, Inc. | $3,399,000 | -21.6% | 324,037 | -41.2% | 0.26% | -23.4% |
| Buy | Sevier County Bancshares, Inc. | $3,343,000 | +398.2% | 217,675 | +97.9% | 0.25% | +384.6% | |
| RCBC | Buy | River City Bank | $3,325,000 | +49.8% | 17,557 | +12.5% | 0.25% | +46.8% |
| CSHX | Buy | Cashmere Valley Bank | $3,300,000 | +34.5% | 57,198 | +1.9% | 0.25% | +31.7% |
| ORPB | Buy | Oregon Pacific Bancorp | $3,256,000 | +109.7% | 564,232 | +102.4% | 0.25% | +105.0% |
| SPFI | Buy | South Plains Financial, Inc. | $3,241,000 | +2.3% | 198,819 | +3.6% | 0.24% | +0.4% |
| FDEF | Sell | First Defiance Financial Corp. | $3,253,000 | -33.7% | 112,305 | -34.6% | 0.24% | -35.2% |
| MOFG | Sell | MidWestOne Financial Group, Inc. | $3,147,000 | +3.2% | 103,100 | -5.5% | 0.24% | +0.9% |
| EMCF | Sell | Emclaire Financial Corp. | $3,129,000 | -14.6% | 95,094 | -18.9% | 0.24% | -16.6% |
| KTYB | Sell | Kentucky Bancshares, Inc. | $3,123,000 | +22.8% | 134,024 | -3.6% | 0.24% | +20.4% |
| JMSB | Sell | John Marshall Bank | $3,096,000 | +39.0% | 182,775 | -4.7% | 0.23% | +36.0% |
| FLIC | Sell | First of Long Island Corp. | $2,840,000 | -46.5% | 124,816 | -52.8% | 0.21% | -47.8% |
| CFST | Sell | Communities First Financial Corporation | $2,705,000 | -3.7% | 109,294 | -12.1% | 0.20% | -6.0% |
| HBMD | Sell | Howard Bancorp, Inc. | $2,646,000 | -12.6% | 158,554 | -20.6% | 0.20% | -14.5% |
| BOTJ | Buy | Bank of the James Financial Group, Inc. | $2,565,000 | +0.2% | 179,369 | +3.5% | 0.19% | -1.5% |
| NWIN | Sell | NorthWest Indiana Bancorp | $2,557,000 | -6.0% | 57,584 | -18.8% | 0.19% | -8.1% |
| CYSM | Buy | Community Bancorp of Santa Maria | $2,461,000 | +49.8% | 197,524 | +13.6% | 0.19% | +46.5% |
| FBC | Sell | Flagstar Bancorp, Inc. | $2,458,000 | -68.7% | 65,811 | -72.3% | 0.18% | -69.5% |
| SSBI | Sell | Summit State Bank | $2,166,000 | +3.8% | 183,707 | -3.2% | 0.16% | +1.2% |
| CZFS | Sell | Citizens Financial Services | $2,100,000 | +15.9% | 35,952 | -6.8% | 0.16% | +12.9% |
| PBCO | Sell | People's Bank of Commerce | $1,999,000 | -4.9% | 134,590 | -14.1% | 0.15% | -6.8% |
| PMHG | Buy | Prime Meridian Holding Company | $1,852,000 | +17.1% | 92,067 | +11.6% | 0.14% | +14.8% |
| BFC | Sell | Bank First National Corporation | $1,852,000 | -46.0% | 27,983 | -43.8% | 0.14% | -47.2% |
| PCLB | Buy | Pinnacle Bancshares, Inc. | $1,838,000 | +12.1% | 65,065 | +4.0% | 0.14% | +10.3% |
| TRCB | Sell | Two River Bancorp | $1,830,000 | -20.8% | 88,295 | -45.1% | 0.14% | -22.5% |
| SOUB | Buy | SouthPoint Bancshares, Inc. | $1,814,000 | +160.3% | 97,526 | +143.8% | 0.14% | +153.7% |
| MPB | Buy | Mid Penn Bank | $1,800,000 | +31.0% | 70,222 | +27.5% | 0.14% | +28.3% |
| TRCY | Sell | Tri City Bankshares Corporation | $1,784,000 | +13.0% | 89,223 | -4.3% | 0.14% | +10.7% |
| LFGP | Sell | Ledyard Financial Group, Inc. | $1,783,000 | +20.9% | 86,750 | -13.6% | 0.14% | +18.4% |
| Buy | White River Bancshares Company | $1,758,000 | +9.8% | 26,532 | +1.6% | 0.13% | +7.3% | |
| RVSB | Sell | Riverview Bancorp, Inc. | $1,764,000 | -23.4% | 239,078 | -11.3% | 0.13% | -25.3% |
| GNTY | Sell | Guaranty Bancshares, Inc. | $1,704,000 | -15.3% | 55,694 | -13.7% | 0.13% | -16.8% |
| CNBKA | Sell | Century Bancorp, Inc. | $1,449,000 | -65.2% | 16,544 | -65.1% | 0.11% | -66.0% |
| CVCY | Sell | Central Valley Community Bancorp | $1,429,000 | -44.1% | 70,212 | -41.1% | 0.11% | -45.2% |
| GRRB | Buy | GrandSouth Bancorporation | $1,380,000 | +39.1% | 84,400 | +1.2% | 0.10% | +35.1% |
| WEBK | Sell | Wellesley Bancorp, Inc. | $1,330,000 | -8.8% | 42,635 | -4.7% | 0.10% | -11.5% |
| MBCN | Sell | Middlefield Banc Corp. | $1,211,000 | -46.6% | 25,874 | -53.2% | 0.09% | -48.0% |
| VABK | Sell | Virginia National Bankshares Corp. | $1,131,000 | -76.1% | 30,512 | -77.9% | 0.08% | -76.7% |
| BORT | Buy | Bank of Botetourt | $1,106,000 | +34.9% | 39,005 | +17.0% | 0.08% | +31.7% |
| CBFV | Sell | CB Financial Services, Inc. | $1,044,000 | -65.6% | 37,616 | -70.5% | 0.08% | -66.2% |
| SCSG | Sell | SouthCrest Financial Group, Inc. | $937,000 | -36.7% | 106,453 | -31.7% | 0.07% | -37.7% |
| BSCA | Sell | Bank of Santa Clarita | $937,000 | -16.2% | 48,280 | -20.6% | 0.07% | -17.4% |
| MCBC | Sell | Macatawa Bank Corporation | $732,000 | -69.5% | 70,408 | -69.9% | 0.06% | -70.3% |
| EFSC | Sell | Enterprise Financial Services Corp | $728,000 | -72.5% | 17,868 | -71.9% | 0.06% | -73.0% |
| FGBI | Sell | First Guaranty Bancshares, Inc. | $718,000 | -32.5% | 32,421 | -36.5% | 0.05% | -34.1% |
| FBSS | Sell | Fauquier Bancshares, Inc. | $596,000 | -38.3% | 30,177 | -33.4% | 0.04% | -40.0% |
| Sell | Pioneer Bancshares, Inc | $539,000 | -10.2% | 20,000 | -33.3% | 0.04% | -10.9% | |
| TWCF | Sell | Town and Country Financial Corporation | $347,000 | +14.1% | 16,513 | -15.4% | 0.03% | +13.0% |
| New | Lewis & Clark Bank | $333,000 | – | 10,365 | – | 0.02% | – | |
| Sell | Aquesta Financial Holdings, Inc. | $252,000 | -64.3% | 23,028 | -66.0% | 0.02% | -64.8% | |
| ESSA | Exit | ESSA Bancorp, Inc. | $0 | – | -7,000 | – | -0.01% | – |
| AUBN | Exit | Auburn National Bancorporation, Inc. | $0 | – | -3,000 | – | -0.01% | – |
| AMRB | Exit | American River Bankshares | $0 | – | -11,000 | – | -0.01% | – |
| Exit | Freedom Bank of Virginia | $0 | – | -32,563 | – | -0.02% | – | |
| Exit | Clatsop Community Bank | $0 | – | -34,100 | – | -0.02% | – | |
| FMBH | Exit | First Mid-Illinois Bancshares, Inc. | $0 | – | -12,513 | – | -0.03% | – |
| TYFG | Exit | Tri-County Financial Group, Inc. | $0 | – | -22,612 | – | -0.06% | – |
| PBCT | Exit | People's United Financial | $0 | – | -78,138 | – | -0.10% | – |
| WASH | Exit | Washington Trust Bancorp, Inc. | $0 | – | -26,075 | – | -0.10% | – |
| SBFG | Exit | SB Financial Group, Inc. | $0 | – | -88,889 | – | -0.11% | – |
| HFBL | Exit | Home Federal Bancorp, Inc. of Louisiana | $0 | – | -45,145 | – | -0.12% | – |
| LION | Exit | Fidelity Southern Corporation | $0 | – | -527,140 | – | -1.26% | – |
Q2 2019
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| PGC | New | Peapack-Gladstone Financial Corporation | $33,282,000 | – | 1,183,557 | – | 2.57% | – |
| MBWM | New | Mercantile Bank Corporation | $30,113,000 | – | 924,277 | – | 2.32% | – |
| SASR | New | Sandy Spring Bancorp Inc. | $29,466,000 | – | 844,793 | – | 2.27% | – |
| TSC | New | TriState Capital Holdings, Inc. | $28,704,000 | – | 1,345,066 | – | 2.22% | – |
| OSBC | New | Old Second Bancorp, Inc. | $25,176,000 | – | 1,971,473 | – | 1.94% | – |
| SFST | New | Southern First Bancshares, Inc. | $24,499,000 | – | 625,625 | – | 1.89% | – |
| LBAI | New | Lakeland Bancorp, Inc. | $23,224,000 | – | 1,438,027 | – | 1.79% | – |
| VBTX | New | Veritex Holdings, Inc. | $21,065,000 | – | 811,755 | – | 1.62% | – |
| SONA | New | Southern National Bancorp of Virginia,Inc. | $20,914,000 | – | 1,366,006 | – | 1.61% | – |
| CSFL | New | CenterState Bank Corporation | $20,371,000 | – | 884,562 | – | 1.57% | – |
| BPFH | New | Boston Private Financial Holdings, Inc. | $19,836,000 | – | 1,643,433 | – | 1.53% | – |
| UNTY | New | Unity Bancorp, Inc. | $19,603,000 | – | 863,568 | – | 1.51% | – |
| FFWM | New | First Foundation Inc. | $19,348,000 | – | 1,439,601 | – | 1.49% | – |
| SBBX | New | SB One Bancorp | $18,765,000 | – | 839,588 | – | 1.45% | – |
| FRBA | New | First Bank | $17,987,000 | – | 1,532,103 | – | 1.39% | – |
| LION | New | Fidelity Southern Corporation | $16,326,000 | – | 527,140 | – | 1.26% | – |
| FBIZ | New | First Business Financial Services | $16,118,000 | – | 685,852 | – | 1.24% | – |
| FBMS | New | First Bancshares, Inc. | $15,467,000 | – | 509,778 | – | 1.19% | – |
| FCBP | New | First Choice Bancorp | $15,443,000 | – | 679,113 | – | 1.19% | – |
| CVLY | New | Codorus Valley Bancorp, Inc. | $14,586,000 | – | 634,155 | – | 1.13% | – |
| CNOB | New | ConnectOne Bancorp, Inc. | $14,416,000 | – | 636,193 | – | 1.11% | – |
| LEVL | New | Level One Bancorp, Inc. | $14,263,000 | – | 570,739 | – | 1.10% | – |
| TBK | New | Triumph Bancorp, Inc. | $14,079,000 | – | 484,661 | – | 1.09% | – |
| OBNK | New | Origin Bancorp Inc. | $14,060,000 | – | 426,064 | – | 1.08% | – |
| ABTX | New | Allegiance Bancshares, Inc. | $13,628,000 | – | 408,758 | – | 1.05% | – |
| MNSB | New | MainStreet Bancshares, Inc. | $13,454,000 | – | 590,341 | – | 1.04% | – |
| BWFG | New | Bankwell Financial Group, Inc. | $13,410,000 | – | 467,232 | – | 1.04% | – |
| BFST | New | Business First Bancshares, Inc. | $13,365,000 | – | 525,149 | – | 1.03% | – |
| ISTR | New | Investar Holding Corporation | $11,851,000 | – | 496,881 | – | 0.91% | – |
| MLVF | New | Malvern Bancorp, Inc. | $11,690,000 | – | 531,142 | – | 0.90% | – |
| PBAM | New | Private Bancorp of America, Inc. | $10,921,000 | – | 489,309 | – | 0.84% | – |
| IBKC | New | Iberiabank Corp | $10,930,000 | – | 144,106 | – | 0.84% | – |
| SBCF | New | Seacoast Banking Corporation of Florida | $10,905,000 | – | 428,639 | – | 0.84% | – |
| SMBK | New | SmartFinancial, Inc. | $10,801,000 | – | 497,956 | – | 0.83% | – |
| WTBFB | New | W.T.B. Financial Corporation | $10,775,000 | – | 39,255 | – | 0.83% | – |
| FRBK | New | Republic First Bancorp, Inc. | $10,535,000 | – | 2,145,576 | – | 0.81% | – |
| OLBK | New | Old Line Bancshares, Inc. | $10,138,000 | – | 380,999 | – | 0.78% | – |
| BY | New | Byline Bancorp, Inc. | $9,979,000 | – | 521,906 | – | 0.77% | – |
| CATC | New | Cambridge Bancorp | $9,973,000 | – | 122,370 | – | 0.77% | – |
| FCCY | New | 1st Constitution Bancorp | $9,780,000 | – | 529,502 | – | 0.76% | – |
| NCBS | New | Nicolet Bankshares, Inc. | $9,627,000 | – | 155,132 | – | 0.74% | – |
| New | Suncrest Bank | $9,621,000 | – | 967,916 | – | 0.74% | – | |
| QCRH | New | QCR Holdings, Inc. | $9,563,000 | – | 274,261 | – | 0.74% | – |
| SHBI | New | Shore Bancshares, Inc. | $9,018,000 | – | 551,916 | – | 0.70% | – |
| BPRN | New | Bank of Princeton | $8,896,000 | – | 296,521 | – | 0.69% | – |
| EGBN | New | Eagle Bancorp, Inc. | $8,865,000 | – | 163,777 | – | 0.68% | – |
| CCNE | New | CNB Financial Corporation | $8,554,000 | – | 302,914 | – | 0.66% | – |
| WSBF | New | Waterstone Financial, Inc. | $8,538,000 | – | 500,456 | – | 0.66% | – |
| EBTC | New | Enterprise Bancorp, Inc. | $8,498,000 | – | 267,993 | – | 0.66% | – |
| MRBK | New | Meridian Bank | $8,392,000 | – | 496,588 | – | 0.65% | – |
| PMBC | New | Pacific Mercantile Bancorp | $8,158,000 | – | 988,884 | – | 0.63% | – |
| FBC | New | Flagstar Bancorp, Inc. | $7,861,000 | – | 237,211 | – | 0.61% | – |
| EQBK | New | Equity Bancshares, Inc. | $7,796,000 | – | 292,421 | – | 0.60% | – |
| SAMG | New | Silvercrest Asset Management Group Inc. | $7,757,000 | – | 552,858 | – | 0.60% | – |
| MYFW | New | First Western Financial, Inc. | $7,704,000 | – | 581,007 | – | 0.59% | – |
| OVLY | New | Oak Valley Bancorp | $7,162,000 | – | 366,354 | – | 0.55% | – |
| MVBF | New | MVB Financial Corp. | $7,163,000 | – | 422,375 | – | 0.55% | – |
| BSRR | New | Sierra Bancorp | $7,173,000 | – | 264,487 | – | 0.55% | – |
| PEBO | New | Peoples Bancorp Inc. | $7,070,000 | – | 219,155 | – | 0.55% | – |
| SNV | New | Synovus Financial Corp. | $7,046,000 | – | 201,320 | – | 0.54% | – |
| MCB | New | Metropolitan Bank Holding Corp. | $7,040,000 | – | 160,000 | – | 0.54% | – |
| FGFH | New | Foresight Financial Group, Inc. | $6,880,000 | – | 232,997 | – | 0.53% | – |
| AVBH | New | Avidbank Holdings, Inc. | $6,785,000 | – | 299,143 | – | 0.52% | – |
| BDGE | New | Bridge Bancorp Inc. | $6,718,000 | – | 228,027 | – | 0.52% | – |
| New | Mountain Commerce Bancorp | $6,677,000 | – | 365,453 | – | 0.52% | – | |
| FMBI | New | First Midwest Bancorp, Inc. | $6,579,000 | – | 321,379 | – | 0.51% | – |
| DCOM | New | Dime Community Bancshares, Inc. | $6,552,000 | – | 345,000 | – | 0.51% | – |
| CARO | New | Carolina Financial Corporation | $6,547,000 | – | 186,580 | – | 0.50% | – |
| RBNC | New | Reliant Bancorp, Inc. | $6,223,000 | – | 263,364 | – | 0.48% | – |
| New | Bank of Southern California, N. A. | $6,089,000 | – | 611,930 | – | 0.47% | – | |
| WBBW | New | Westbury Bancorp, Inc. | $6,092,000 | – | 252,670 | – | 0.47% | – |
| TCFC | New | Community Financial Corporation | $6,056,000 | – | 179,532 | – | 0.47% | – |
| FNRN | New | First Northern Community Bancorp | $6,001,000 | – | 590,048 | – | 0.46% | – |
| CALB | New | California BanCorp | $5,979,000 | – | 317,374 | – | 0.46% | – |
| FVCB | New | First Virginia Community Bank | $5,957,000 | – | 306,725 | – | 0.46% | – |
| BCBP | New | BCB Bancorp, Inc. | $5,831,000 | – | 420,996 | – | 0.45% | – |
| SBT | New | Sterling Bancorp, Inc. | $5,814,000 | – | 583,100 | – | 0.45% | – |
| BOCH | New | Bank of Commerce Holdings | $5,771,000 | – | 539,866 | – | 0.44% | – |
| New | American Riviera Bank | $5,714,000 | – | 335,940 | – | 0.44% | – | |
| PSBQ | New | PSB Holdings, Inc. | $5,685,000 | – | 280,763 | – | 0.44% | – |
| SBNC | New | Southern BancShares (N.C.), Inc. | $5,578,000 | – | 1,994 | – | 0.43% | – |
| QNBC | New | QNB Corp. | $5,391,000 | – | 161,223 | – | 0.42% | – |
| REVB | New | Revere Bank | $5,360,000 | – | 223,617 | – | 0.41% | – |
| FLIC | New | First of Long Island Corp. | $5,311,000 | – | 264,475 | – | 0.41% | – |
| PFLC | New | Pacific Financial Corporation | $5,130,000 | – | 517,166 | – | 0.40% | – |
| ICBK | New | County Bancorp, Inc. | $5,054,000 | – | 295,731 | – | 0.39% | – |
| UVSP | New | Univest Financial Corporation | $4,975,000 | – | 189,452 | – | 0.38% | – |
| FDEF | New | First Defiance Financial Corp. | $4,905,000 | – | 171,700 | – | 0.38% | – |
| AMBZ | New | American Business Bank | $4,796,000 | – | 154,454 | – | 0.37% | – |
| New | Centric Financial Corporation | $4,792,000 | – | 633,087 | – | 0.37% | – | |
| VABK | New | Virginia National Bankshares Corp. | $4,728,000 | – | 137,971 | – | 0.36% | – |
| FRAF | New | Franklin Financial Services Corp. | $4,711,000 | – | 123,591 | – | 0.36% | – |
| NWYF | New | Northway Financial, Inc. | $4,704,000 | – | 170,942 | – | 0.36% | – |
| TGRF | New | TGR Financial, Inc. | $4,680,000 | – | 468,518 | – | 0.36% | – |
| FETM | New | Fentura Financial, Inc. | $4,671,000 | – | 260,638 | – | 0.36% | – |
| MFGI | New | Merchants Financial Group, Inc. | $4,604,000 | – | 84,687 | – | 0.36% | – |
| FCOB | New | 1st Colonial Bancorp | $4,496,000 | – | 437,324 | – | 0.35% | – |
| MBIN | New | Merchants Bancorp | $4,379,000 | – | 257,153 | – | 0.34% | – |
| EBSB | New | Meridian Interstate Bancorp | $4,383,000 | – | 245,001 | – | 0.34% | – |
| CART | New | Carolina Trust BancShares, Inc. | $4,333,000 | – | 551,294 | – | 0.33% | – |
| ESXB | New | Community Bankers Trust Corporation | $4,309,000 | – | 508,704 | – | 0.33% | – |
| New | Community Bank of the Bay | $4,272,000 | – | 691,207 | – | 0.33% | – | |
| LMST | New | Limestone Bancorp, Inc. | $4,260,000 | – | 279,353 | – | 0.33% | – |
| CNBKA | New | Century Bancorp, Inc. | $4,161,000 | – | 47,341 | – | 0.32% | – |
| FSB | New | Franklin Financial Network, Inc. | $4,118,000 | – | 147,816 | – | 0.32% | – |
| CZWI | New | Citizens Community Bancorp, Inc. | $3,922,000 | – | 361,808 | – | 0.30% | – |
| FISB | New | 1st Capital Bank | $3,784,000 | – | 258,471 | – | 0.29% | – |
| YRKB | New | York Traditions Bank | $3,718,000 | – | 242,044 | – | 0.29% | – |
| FNBT | New | FineMark Holdings, Inc. | $3,700,000 | – | 191,600 | – | 0.29% | – |
| EMCF | New | Emclaire Financial Corp. | $3,664,000 | – | 117,207 | – | 0.28% | – |
| OCBI | New | Orange County Bancorp | $3,663,000 | – | 178,344 | – | 0.28% | – |
| BAYK | New | Bay Banks of Virginia, Inc. | $3,633,000 | – | 465,196 | – | 0.28% | – |
| New | Southern States Bancshares | $3,591,000 | – | 232,143 | – | 0.28% | – | |
| BRBS | New | Blue Ridge Bankshares, Inc. | $3,458,000 | – | 225,000 | – | 0.27% | – |
| BFC | New | Bank First National Corporation | $3,432,000 | – | 49,764 | – | 0.26% | – |
| LBC | New | Luther Burbank Corporation | $3,409,000 | – | 313,000 | – | 0.26% | – |
| CBWA | New | Commencement Bank | $3,381,000 | – | 249,145 | – | 0.26% | – |
| RIVE | New | Riverview Financial Corporation | $3,333,000 | – | 317,408 | – | 0.26% | – |
| New | Beach Community Bancshares, Inc. | $3,285,000 | – | 900,000 | – | 0.25% | – | |
| STXB | New | Spirit of Texas Bancshares, Inc. | $3,265,000 | – | 145,100 | – | 0.25% | – |
| MVLY | New | Mission Valley Bancorp | $3,180,000 | – | 275,840 | – | 0.24% | – |
| SPFI | New | South Plains Financial, Inc. | $3,168,000 | – | 192,000 | – | 0.24% | – |
| New | Embassy Bancorp, Inc. | $3,133,000 | – | 198,137 | – | 0.24% | – | |
| PBNK | New | Pinnacle Bank | $3,114,000 | – | 301,782 | – | 0.24% | – |
| BWB | New | Bridgewater Bancshares, Inc. | $3,077,000 | – | 266,652 | – | 0.24% | – |
| MOFG | New | MidWestOne Financial Group, Inc. | $3,050,000 | – | 109,100 | – | 0.24% | – |
| HBMD | New | Howard Bancorp, Inc. | $3,029,000 | – | 199,687 | – | 0.23% | – |
| CBFV | New | CB Financial Services, Inc. | $3,031,000 | – | 127,616 | – | 0.23% | – |
| INBK | New | First Internet Bancorp | $2,994,000 | – | 139,000 | – | 0.23% | – |
| FBK | New | FB Financial Corp. | $2,965,000 | – | 81,000 | – | 0.23% | – |
| WNRP | New | West Suburban Bancorp, Inc. | $2,885,000 | – | 6,306 | – | 0.22% | – |
| CFST | New | Communities First Financial Corporation | $2,808,000 | – | 124,294 | – | 0.22% | – |
| LGHT | New | Lighthouse Bank | $2,748,000 | – | 114,502 | – | 0.21% | – |
| NWIN | New | NorthWest Indiana Bancorp | $2,720,000 | – | 70,884 | – | 0.21% | – |
| EFSC | New | Enterprise Financial Services Corp | $2,647,000 | – | 63,625 | – | 0.20% | – |
| New | Metro Phoenix Bank | $2,583,000 | – | 221,167 | – | 0.20% | – | |
| BOTJ | New | Bank of the James Financial Group, Inc. | $2,559,000 | – | 173,369 | – | 0.20% | – |
| CVCY | New | Central Valley Community Bancorp | $2,558,000 | – | 119,142 | – | 0.20% | – |
| KTYB | New | Kentucky Bancshares, Inc. | $2,544,000 | – | 139,024 | – | 0.20% | – |
| BKOR | New | Oak Ridge Financial Services, Inc. | $2,532,000 | – | 221,311 | – | 0.20% | – |
| CSHX | New | Cashmere Valley Bank | $2,453,000 | – | 56,152 | – | 0.19% | – |
| MCBC | New | Macatawa Bank Corporation | $2,398,000 | – | 233,676 | – | 0.18% | – |
| TRCB | New | Two River Bancorp | $2,310,000 | – | 160,851 | – | 0.18% | – |
| RVSB | New | Riverview Bancorp, Inc. | $2,302,000 | – | 269,542 | – | 0.18% | – |
| MBCN | New | Middlefield Banc Corp. | $2,266,000 | – | 55,274 | – | 0.18% | – |
| JMSB | New | John Marshall Bank | $2,228,000 | – | 191,775 | – | 0.17% | – |
| RCBC | New | River City Bank | $2,220,000 | – | 15,607 | – | 0.17% | – |
| New | Peoples Bancorp | $2,111,000 | – | 12,237 | – | 0.16% | – | |
| PBCO | New | People's Bank of Commerce | $2,101,000 | – | 156,690 | – | 0.16% | – |
| SSBI | New | Summit State Bank | $2,087,000 | – | 189,707 | – | 0.16% | – |
| CYFL | New | Century Financial Corporation | $2,075,000 | – | 121,646 | – | 0.16% | – |
| PPBN | New | Pinnacle Bankshares Corporation | $2,026,000 | – | 87,130 | – | 0.16% | – |
| GNTY | New | Guaranty Bancshares, Inc. | $2,011,000 | – | 64,555 | – | 0.16% | – |
| New | Pacific West Bank | $1,950,000 | – | 185,715 | – | 0.15% | – | |
| New | CoastalSouth Bancshares, Inc. | $1,838,000 | – | 204,249 | – | 0.14% | – | |
| New | Two Rivers Financial Group, Inc. | $1,821,000 | – | 78,041 | – | 0.14% | – | |
| CZFS | New | Citizens Financial Services | $1,812,000 | – | 38,558 | – | 0.14% | – |
| PLBN | New | Pilot Bancshares, Inc. | $1,789,000 | – | 571,429 | – | 0.14% | – |
| New | Citizens Bancorp | $1,746,000 | – | 122,449 | – | 0.14% | – | |
| New | First Home Bancorp, Inc. | $1,737,000 | – | 89,062 | – | 0.13% | – | |
| CCNB | New | Coastal Carolina Bancshares, Inc. | $1,693,000 | – | 288,461 | – | 0.13% | – |
| CCBC | New | Chino Commercial Bancorp | $1,690,000 | – | 138,392 | – | 0.13% | – |
| New | McHenry Bancorp, Inc. | $1,650,000 | – | 15,000,000 | – | 0.13% | – | |
| CYSM | New | Community Bancorp of Santa Maria | $1,643,000 | – | 173,824 | – | 0.13% | – |
| PCLB | New | Pinnacle Bancshares, Inc. | $1,639,000 | – | 62,565 | – | 0.13% | – |
| RRBI | New | Red River Bancshares, Inc. | $1,615,000 | – | 33,334 | – | 0.12% | – |
| New | White River Bancshares Company | $1,601,000 | – | 26,124 | – | 0.12% | – | |
| PMHG | New | Prime Meridian Holding Company | $1,581,000 | – | 82,515 | – | 0.12% | – |
| TRCY | New | Tri City Bankshares Corporation | $1,579,000 | – | 93,270 | – | 0.12% | – |
| ORPB | New | Oregon Pacific Bancorp | $1,553,000 | – | 278,807 | – | 0.12% | – |
| CCB | New | CCB Financial | $1,547,000 | – | 100,000 | – | 0.12% | – |
| New | FNS Bancshares, Inc. | $1,543,000 | – | 23,950 | – | 0.12% | – | |
| HFBL | New | Home Federal Bancorp, Inc. of Louisiana | $1,501,000 | – | 45,145 | – | 0.12% | – |
| KINS | New | Kingstone Companies, Inc. | $1,494,000 | – | 172,661 | – | 0.12% | – |
| LFGP | New | Ledyard Financial Group, Inc. | $1,475,000 | – | 100,350 | – | 0.11% | – |
| SCSG | New | SouthCrest Financial Group, Inc. | $1,481,000 | – | 155,868 | – | 0.11% | – |
| WEBK | New | Wellesley Bancorp, Inc. | $1,459,000 | – | 44,740 | – | 0.11% | – |
| SBFG | New | SB Financial Group, Inc. | $1,463,000 | – | 88,889 | – | 0.11% | – |
| FNHC | New | FedNat Holding Company | $1,428,000 | – | 100,100 | – | 0.11% | – |
| SLCT | New | Select Bancorp, Inc. | $1,430,000 | – | 125,000 | – | 0.11% | – |
| BHB | New | Bar Harbor Bankshares | $1,406,000 | – | 52,884 | – | 0.11% | – |
| MPB | New | Mid Penn Bank | $1,374,000 | – | 55,067 | – | 0.11% | – |
| WASH | New | Washington Trust Bancorp, Inc. | $1,361,000 | – | 26,075 | – | 0.10% | – |
| CARE | New | Carter Bank & Trust | $1,312,000 | – | 66,406 | – | 0.10% | – |
| PBCT | New | People's United Financial | $1,311,000 | – | 78,138 | – | 0.10% | – |
| AMFC | New | AMB Financial Corp. | $1,296,000 | – | 83,750 | – | 0.10% | – |
| New | Three Shores Bancorporation, Inc. | $1,283,000 | – | 190,000 | – | 0.10% | – | |
| SABK | New | South Atlantic Bancshares, Inc. | $1,280,000 | – | 137,388 | – | 0.10% | – |
| CMHF | New | Community Heritage Financial Inc. | $1,260,000 | – | 79,474 | – | 0.10% | – |
| EMPK | New | Empire Bancorp Inc. | $1,214,000 | – | 100,188 | – | 0.09% | – |
| BFTL | New | Bank of Fincastle | $1,165,000 | – | 506,486 | – | 0.09% | – |
| SCZC | New | Santa Cruz County Bank | $1,162,000 | – | 27,365 | – | 0.09% | – |
| New | Grand River Commerce, Inc. | $1,151,000 | – | 181,819 | – | 0.09% | – | |
| BSCA | New | Bank of Santa Clarita | $1,118,000 | – | 60,780 | – | 0.09% | – |
| SOBS | New | Solvay Bank Corporation | $1,104,000 | – | 37,743 | – | 0.08% | – |
| FGBI | New | First Guaranty Bancshares, Inc. | $1,064,000 | – | 51,025 | – | 0.08% | – |
| GRRB | New | GrandSouth Bancorporation | $992,000 | – | 83,400 | – | 0.08% | – |
| CBNK | New | Capital Bancorp, Inc. | $984,000 | – | 80,000 | – | 0.08% | – |
| FBSS | New | Fauquier Bancshares, Inc. | $966,000 | – | 45,314 | – | 0.08% | – |
| VBFC | New | Village Bank and Trust Financial Corp. | $960,000 | – | 29,133 | – | 0.07% | – |
| SAL | New | Salisbury Bancorp, Inc. | $905,000 | – | 23,216 | – | 0.07% | – |
| TYFG | New | Tri-County Financial Group, Inc. | $844,000 | – | 22,612 | – | 0.06% | – |
| BORT | New | Bank of Botetourt | $820,000 | – | 33,334 | – | 0.06% | – |
| SRYB | New | Surrey Bancorp | $767,000 | – | 69,785 | – | 0.06% | – |
| New | Aquesta Financial Holdings, Inc. | $705,000 | – | 67,633 | – | 0.05% | – | |
| UBAB | New | United Bancorporation of Alabama, Inc. | $697,000 | – | 40,000 | – | 0.05% | – |
| SOUB | New | SouthPoint Bancshares, Inc. | $697,000 | – | 40,000 | – | 0.05% | – |
| EFSI | New | Eagle Financial Services Inc. | $683,000 | – | 29,365 | – | 0.05% | – |
| New | Sevier County Bancshares, Inc. | $671,000 | – | 110,000 | – | 0.05% | – | |
| New | Pioneer Bancshares, Inc | $600,000 | – | 30,000 | – | 0.05% | – | |
| PTBS | New | Potomac Bancshares, Inc. | $494,000 | – | 42,905 | – | 0.04% | – |
| New | First Reliance Bancshares, Inc. | $495,000 | – | 84,792 | – | 0.04% | – | |
| FXNC | New | First National Corporation | $494,000 | – | 24,255 | – | 0.04% | – |
| FCIT | New | First Citrus Bancorporation, Inc. | $467,000 | – | 23,695 | – | 0.04% | – |
| DNBF | New | DNB Financial Corporation | $459,000 | – | 10,317 | – | 0.04% | – |
| FMBH | New | First Mid-Illinois Bancshares, Inc. | $437,000 | – | 12,513 | – | 0.03% | – |
| FFMH | New | First Farmers and Merchants Corporation | $416,000 | – | 12,500 | – | 0.03% | – |
| UIHC | New | United Insurance Holdings Corp. | $417,000 | – | 29,269 | – | 0.03% | – |
| New | Clatsop Community Bank | $320,000 | – | 34,100 | – | 0.02% | – | |
| New | Freedom Bank of Virginia | $316,000 | – | 32,563 | – | 0.02% | – | |
| TWCF | New | Town and Country Financial Corporation | $304,000 | – | 19,513 | – | 0.02% | – |
| BLHK | New | Blueharbor bank | $126,000 | – | 10,800 | – | 0.01% | – |
| AMRB | New | American River Bankshares | $135,000 | – | 11,000 | – | 0.01% | – |
| AUBN | New | Auburn National Bancorporation, Inc. | $101,000 | – | 3,000 | – | 0.01% | – |
| ESSA | New | ESSA Bancorp, Inc. | $107,000 | – | 7,000 | – | 0.01% | – |
Q4 2018
Q3 2018
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| MBWM | Sell | Mercantile Bank Corporation | $41,505,000 | -14.7% | 1,243,792 | -5.5% | 2.46% | -2.2% |
| TSC | Sell | TriState Capital Holdings, Inc. | $36,062,000 | -11.8% | 1,306,582 | -16.6% | 2.14% | +1.0% |
| PGC | Sell | Peapack-Gladstone Financial Corporation | $34,836,000 | -14.3% | 1,127,747 | -4.0% | 2.06% | -1.8% |
| SASR | Sell | Sandy Spring Bancorp Inc. | $32,643,000 | -11.8% | 830,388 | -7.9% | 1.94% | +1.1% |
| OSBC | Sell | Old Second Bancorp, Inc. | $29,977,000 | -4.2% | 1,940,231 | -10.7% | 1.78% | +9.8% |
| LION | Sell | Fidelity Southern Corporation | $28,582,000 | -8.4% | 1,153,443 | -6.1% | 1.69% | +5.0% |
| BLMT | Sell | BSB Bancorp, Inc. | $27,724,000 | -14.6% | 850,422 | -9.9% | 1.64% | -2.1% |
| FBMS | Sell | First Bancshares, Inc. | $23,186,000 | -6.3% | 593,743 | -13.7% | 1.37% | +7.3% |
| SONA | Sell | Southern National Bancorp of Virginia,Inc. | $22,885,000 | -15.6% | 1,412,653 | -7.0% | 1.36% | -3.3% |
| LBAI | Sell | Lakeland Bancorp, Inc. | $21,302,000 | -13.1% | 1,180,165 | -4.5% | 1.26% | -0.5% |
| FFWM | Sell | First Foundation Inc. | $19,893,000 | -19.1% | 1,273,583 | -4.0% | 1.18% | -7.3% |
| CVLY | Sell | Codorus Valley Bancorp, Inc. | $19,519,000 | -1.5% | 624,804 | -3.2% | 1.16% | +12.9% |
| UNTY | Sell | Unity Bancorp, Inc. | $19,090,000 | -6.4% | 833,642 | -7.0% | 1.13% | +7.4% |
| UBSH | Sell | Union Bankshares Corporation | $18,993,000 | -12.7% | 492,949 | -11.9% | 1.13% | +0.1% |
| SFST | Sell | Southern First Bancshares, Inc. | $18,559,000 | -18.3% | 472,231 | -8.1% | 1.10% | -6.4% |
| FCBP | Buy | First Choice Bancorp | $18,235,000 | -9.9% | 673,145 | +1.6% | 1.08% | +3.2% |
| OBNK | Sell | Origin Bancorp Inc. | $17,815,000 | -58.0% | 473,165 | -54.3% | 1.06% | -51.8% |
| SBBX | Sell | SB One Bancorp | $17,291,000 | -15.5% | 686,144 | -0.4% | 1.02% | -3.2% |
| FBIZ | Sell | First Business Financial Services | $16,810,000 | -22.3% | 725,202 | -12.8% | 1.00% | -11.0% |
| EFSC | Sell | Enterprise Financial Services Corp | $16,678,000 | -35.3% | 314,379 | -34.2% | 0.99% | -25.9% |
| LEVL | Sell | Level One Bancorp, Inc. | $16,602,000 | -6.8% | 597,192 | -8.9% | 0.98% | +6.8% |
| ABTX | Sell | Allegiance Bancshares, Inc. | $16,038,000 | -9.2% | 384,601 | -5.6% | 0.95% | +4.2% |
| VBTX | Sell | Veritex Holdings, Inc. | $16,042,000 | -13.0% | 567,673 | -4.3% | 0.95% | -0.2% |
| FRBA | Sell | First Bank | $15,961,000 | -9.9% | 1,213,761 | -4.7% | 0.95% | +3.3% |
| FRBK | Sell | Republic First Bancorp, Inc. | $15,812,000 | -16.6% | 2,211,426 | -8.5% | 0.94% | -4.5% |
| NCBS | Sell | Nicolet Bankshares, Inc. | $15,736,000 | -16.6% | 288,685 | -15.7% | 0.93% | -4.4% |
| BWFG | Sell | Bankwell Financial Group, Inc. | $14,966,000 | -5.4% | 477,232 | -3.0% | 0.89% | +8.3% |
| BPFH | Sell | Boston Private Financial Holdings, Inc. | $14,800,000 | -27.1% | 1,084,263 | -15.1% | 0.88% | -16.5% |
| CNOB | Sell | ConnectOne Bancorp, Inc. | $14,342,000 | -15.2% | 603,863 | -11.1% | 0.85% | -2.9% |
| SBCF | Sell | Seacoast Banking Corporation of Florida | $14,208,000 | -10.1% | 486,569 | -2.8% | 0.84% | +3.1% |
| TBK | Sell | Triumph Bancorp, Inc. | $13,954,000 | -17.4% | 365,300 | -11.9% | 0.83% | -5.4% |
| NCOM | Sell | National Commerce Corporation | $13,946,000 | -15.2% | 337,664 | -5.0% | 0.83% | -2.8% |
| MNSB | Buy | MainStreet Bancshares, Inc. | $13,569,000 | +22.2% | 647,708 | +21.0% | 0.80% | +40.1% |
| ISTR | Sell | Investar Holding Corporation | $12,768,000 | -15.2% | 475,513 | -12.7% | 0.76% | -2.8% |
| PEBO | Sell | Peoples Bancorp Inc. | $12,589,000 | -12.7% | 359,364 | -5.9% | 0.75% | 0.0% |
| Sell | Suncrest Bank | $12,555,000 | -1.6% | 944,016 | -0.2% | 0.74% | +12.7% | |
| WSBF | Sell | Waterstone Financial, Inc. | $12,159,000 | -7.9% | 708,972 | -8.5% | 0.72% | +5.6% |
| CVCY | Sell | Central Valley Community Bancorp | $11,878,000 | -15.1% | 549,654 | -16.9% | 0.70% | -2.8% |
| MLVF | Sell | Malvern Bancorp, Inc. | $11,869,000 | -10.2% | 495,593 | -8.7% | 0.70% | +2.9% |
| CCNE | Sell | CNB Financial Corporation | $11,768,000 | -14.2% | 407,771 | -10.6% | 0.70% | -1.6% |
| EQBK | Sell | Equity Bancshares, Inc. | $11,677,000 | -13.5% | 297,421 | -8.6% | 0.69% | -0.9% |
| CATC | Sell | Cambridge Bancorp | $11,647,000 | -10.6% | 129,428 | -14.0% | 0.69% | +2.4% |
| BY | Sell | Byline Bancorp, Inc. | $11,030,000 | -3.7% | 485,885 | -5.3% | 0.65% | +10.3% |
| SMBK | Sell | SmartFinancial, Inc. | $10,803,000 | -17.0% | 458,732 | -9.2% | 0.64% | -4.9% |
| FCCY | Sell | 1st Constitution Bancorp | $10,784,000 | -17.2% | 520,987 | -8.4% | 0.64% | -5.2% |
| PBAM | Sell | Private Bancorp of America, Inc. | $10,505,000 | -2.2% | 407,178 | -2.2% | 0.62% | +12.1% |
| FMBI | Sell | First Midwest Bancorp, Inc. | $10,390,000 | -17.2% | 390,738 | -20.7% | 0.62% | -5.1% |
| SHBI | Sell | Shore Bancshares, Inc. | $10,064,000 | -6.5% | 564,733 | -0.2% | 0.60% | +7.2% |
| CSFL | Buy | CenterState Bank Corporation | $9,925,000 | +4.9% | 353,833 | +11.6% | 0.59% | +20.2% |
| BSRR | Sell | Sierra Bancorp | $9,892,000 | -7.5% | 342,272 | -9.6% | 0.59% | +6.0% |
| FGFH | Sell | Foresight Financial Group, Inc. | $9,399,000 | -4.9% | 261,091 | -6.4% | 0.56% | +9.0% |
| CALB | Buy | California BanCorp | $9,056,000 | +42.3% | 398,942 | +35.7% | 0.54% | +63.2% |
| EBTC | Sell | Enterprise Bancorp, Inc. | $8,890,000 | -23.8% | 258,495 | -10.4% | 0.53% | -12.6% |
| SAMG | Sell | Silvercrest Asset Management Group Inc. | $8,694,000 | -25.9% | 627,753 | -12.8% | 0.52% | -15.2% |
| BOCH | Sell | Bank of Commerce Holdings | $8,498,000 | -8.5% | 696,567 | -4.4% | 0.50% | +5.0% |
| Buy | Bank of Southern California, N. A. | $8,348,000 | +8.1% | 526,990 | +0.7% | 0.50% | +24.1% | |
| PSBQ | Buy | PSB Holdings, Inc. | $8,162,000 | -20.7% | 300,062 | +115.8% | 0.48% | -9.0% |
| MRBK | Sell | Meridian Bank | $8,026,000 | -12.6% | 466,606 | -7.6% | 0.48% | +0.2% |
| UBNK | Sell | United Financial Bancorp, Inc. | $7,994,000 | -12.7% | 475,010 | -9.1% | 0.47% | +0.2% |
| GNBC | Sell | Green Bancorp, Inc. | $7,913,000 | -22.8% | 358,060 | -24.5% | 0.47% | -11.5% |
| OCBI | Sell | Orange County Bancorp | $7,756,000 | -10.4% | 267,456 | -1.1% | 0.46% | +2.7% |
| SBNC | Sell | Southern BancShares (N.C.), Inc. | $7,718,000 | -20.8% | 2,129 | -16.9% | 0.46% | -9.3% |
| RBNC | Sell | Reliant Bancorp, Inc. | $7,625,000 | -20.5% | 298,220 | -12.8% | 0.45% | -8.9% |
| OVLY | Sell | Oak Valley Bancorp | $7,561,000 | -25.8% | 384,797 | -13.6% | 0.45% | -15.0% |
| TCFC | Sell | Community Financial Corporation | $7,469,000 | -19.1% | 223,436 | -14.4% | 0.44% | -7.3% |
| FBC | Sell | Flagstar Bancorp, Inc. | $7,465,000 | -18.5% | 237,211 | -11.3% | 0.44% | -6.8% |
| QNBC | Sell | QNB Corp. | $7,421,000 | -7.7% | 161,670 | -6.2% | 0.44% | +5.8% |
| BMRC | Sell | Bank of Marin Bancorp | $7,415,000 | -39.1% | 88,378 | -41.3% | 0.44% | -30.2% |
| Sell | Centric Financial Corporation | $7,260,000 | -1.7% | 580,768 | -9.6% | 0.43% | +12.6% | |
| WBBW | Sell | Westbury Bancorp, Inc. | $7,184,000 | -9.6% | 326,564 | -8.3% | 0.43% | +3.6% |
| BANC | Sell | Banc of California, Inc. | $7,172,000 | -15.5% | 379,487 | -12.6% | 0.42% | -3.2% |
| FVCB | Buy | First Virginia Community Bank | $7,001,000 | +20.2% | 353,561 | +4.4% | 0.42% | +37.9% |
| Sell | American Riviera Bank | $6,896,000 | -5.0% | 359,165 | -6.0% | 0.41% | +8.8% | |
| ICBK | Buy | County Bancorp, Inc. | $6,846,000 | -7.7% | 272,731 | +1.1% | 0.41% | +5.7% |
| OLBK | Sell | Old Line Bancshares, Inc. | $6,793,000 | -31.6% | 214,686 | -24.6% | 0.40% | -21.6% |
| AMBZ | Sell | American Business Bank | $6,714,000 | -15.1% | 159,854 | -19.7% | 0.40% | -2.7% |
| REVB | Buy | Revere Bank | $6,721,000 | +98.6% | 216,817 | +95.7% | 0.40% | +127.4% |
| BCBP | Sell | BCB Bancorp, Inc. | $6,419,000 | -10.3% | 463,496 | -2.8% | 0.38% | +2.7% |
| FSB | Sell | Franklin Financial Network, Inc. | $6,306,000 | +1.0% | 161,283 | -2.8% | 0.37% | +15.8% |
| ESXB | Sell | Community Bankers Trust Corporation | $6,238,000 | -18.9% | 708,851 | -17.5% | 0.37% | -7.0% |
| MCBC | Sell | Macatawa Bank Corporation | $6,213,000 | -5.5% | 530,579 | -2.0% | 0.37% | +8.2% |
| FCB | Sell | FCB Financial Holdings, Inc. | $5,900,000 | -50.9% | 124,475 | -39.1% | 0.35% | -43.7% |
| WNRP | Sell | West Suburban Bancorp, Inc. | $5,810,000 | +0.8% | 8,172 | -2.1% | 0.34% | +15.4% |
| FLIC | Sell | First of Long Island Corp. | $5,752,000 | -19.4% | 264,475 | -7.9% | 0.34% | -7.6% |
| FISB | Sell | 1st Capital Bank | $5,658,000 | -0.9% | 290,149 | -11.9% | 0.34% | +13.6% |
| BFIN | Sell | BankFinancial Corporation | $5,452,000 | -26.2% | 342,044 | -18.3% | 0.32% | -15.4% |
| NWYF | Sell | Northway Financial, Inc. | $5,375,000 | -13.4% | 167,442 | -16.4% | 0.32% | -0.6% |
| FDEF | Buy | First Defiance Financial Corp. | $5,170,000 | -10.2% | 171,700 | +100.0% | 0.31% | +2.7% |
| Buy | Highlands Bancorp, Inc. | $4,888,000 | +36.3% | 267,834 | +13.1% | 0.29% | +56.8% | |
| PMBC | New | Pacific Mercantile Bancorp | $4,582,000 | – | 490,000 | – | 0.27% | – |
| MVLY | Sell | Mission Valley Bancorp | $4,541,000 | -3.8% | 266,339 | -4.1% | 0.27% | +10.2% |
| VABK | Sell | Virginia National Bankshares Corp. | $4,485,000 | -12.2% | 97,401 | -2.0% | 0.27% | +0.8% |
| FCOB | Sell | 1st Colonial Bancorp | $4,315,000 | +1.3% | 334,777 | -5.3% | 0.26% | +16.4% |
| JMSB | Sell | John Marshall Bank | $4,223,000 | -15.3% | 228,875 | -14.4% | 0.25% | -3.1% |
| PBNK | Sell | Pinnacle Bank | $4,182,000 | -0.7% | 282,563 | -2.8% | 0.25% | +13.8% |
| MYFW | New | First Western Financial, Inc. | $4,101,000 | – | 234,500 | – | 0.24% | – |
| BDGE | Sell | Bridge Bancorp Inc. | $4,051,000 | -16.7% | 122,020 | -9.8% | 0.24% | -4.4% |
| UIHC | Sell | United Insurance Holdings Corp. | $3,990,000 | -19.0% | 178,277 | -29.1% | 0.24% | -7.1% |
| FISI | Sell | Financial Institutions, Inc. | $4,004,000 | -5.4% | 127,519 | -0.9% | 0.24% | +8.2% |
| KINS | Sell | Kingstone Companies, Inc. | $3,973,000 | -2.2% | 209,083 | -13.1% | 0.24% | +11.9% |
| CSHX | Sell | Cashmere Valley Bank | $3,910,000 | -1.5% | 55,052 | -4.9% | 0.23% | +13.2% |
| KTYB | Sell | Kentucky Bancshares, Inc. | $3,793,000 | -8.0% | 73,162 | -11.1% | 0.22% | +5.6% |
| CFST | Sell | Communities First Financial Corporation | $3,796,000 | -3.6% | 151,245 | -11.4% | 0.22% | +10.3% |
| Buy | Community Bank of the Bay | $3,685,000 | +34.8% | 475,440 | +17.4% | 0.22% | +54.6% | |
| RVSB | Sell | Riverview Bancorp, Inc. | $3,621,000 | -25.8% | 409,670 | -29.1% | 0.22% | -14.7% |
| LSBK | Sell | Lake Shore Bancorp | $3,483,000 | -7.6% | 211,090 | -4.0% | 0.21% | +5.6% |
| RIVE | Buy | Riverview Financial Corporation | $3,470,000 | +26.5% | 255,160 | +17.7% | 0.21% | +45.1% |
| GNTY | Sell | Guaranty Bancshares, Inc. | $3,356,000 | -21.3% | 111,027 | -14.3% | 0.20% | -10.0% |
| BOTJ | Sell | Bank of the James Financial Group, Inc. | $3,323,000 | -16.7% | 210,156 | -12.9% | 0.20% | -4.4% |
| BRKL | Sell | Brookline Bancorp, Inc. | $3,303,000 | -22.0% | 197,800 | -13.2% | 0.20% | -10.5% |
| TRCB | Sell | Two River Bancorp | $3,280,000 | -22.0% | 189,159 | -13.9% | 0.19% | -10.6% |
| CZFS | Sell | Citizens Financial Services | $3,182,000 | -4.5% | 50,872 | -3.8% | 0.19% | +9.9% |
| LMST | Buy | Limestone Bancorp, Inc. | $3,145,000 | +3.2% | 202,935 | +1.5% | 0.19% | +17.7% |
| HFBL | Sell | Home Federal Bancorp, Inc. of Louisiana | $2,999,000 | -3.3% | 87,956 | -10.8% | 0.18% | +11.2% |
| FMNB | Sell | Farmers National Banc Corp. | $2,993,000 | -27.8% | 195,604 | -24.7% | 0.18% | -17.3% |
| STXB | Buy | Spirit of Texas Bancshares, Inc. | $2,841,000 | +10.3% | 131,600 | +5.3% | 0.17% | +26.3% |
| NWIN | Sell | NorthWest Indiana Bancorp | $2,799,000 | -17.0% | 62,903 | -19.8% | 0.17% | -4.6% |
| CSTR | Sell | CapStar Financial Holdings, Inc. | $2,779,000 | -45.5% | 166,415 | -39.6% | 0.16% | -37.5% |
| SBTB | Sell | SBT Bancorp, Inc. | $2,669,000 | -2.5% | 69,321 | -12.6% | 0.16% | +11.3% |
| Sell | Citizens Bancorp | $2,625,000 | -10.8% | 122,449 | -15.7% | 0.16% | +2.6% | |
| PBCO | Buy | People's Bank of Commerce | $2,476,000 | +5.9% | 178,096 | +2.5% | 0.15% | +21.5% |
| SOMC | Sell | Southern Michigan Bancorp Inc. | $2,326,000 | -11.1% | 57,630 | -19.5% | 0.14% | +2.2% |
| STBZ | Sell | State Bank Financial Corporation | $2,262,000 | -76.0% | 74,951 | -73.4% | 0.13% | -72.5% |
| BSCA | Sell | Bank of Santa Clarita | $2,244,000 | -6.1% | 106,860 | -10.1% | 0.13% | +7.3% |
| GRRB | Sell | GrandSouth Bancorporation | $2,227,000 | -3.7% | 117,200 | -6.2% | 0.13% | +10.0% |
| HFWA | Sell | Heritage Financial Corporation | $2,177,000 | -22.1% | 61,928 | -22.8% | 0.13% | -11.0% |
| SCSG | Sell | SouthCrest Financial Group, Inc. | $2,152,000 | -37.3% | 206,968 | -27.4% | 0.13% | -28.1% |
| NECB | Sell | Northeast Community Bancorp, Inc. | $2,143,000 | -29.7% | 168,100 | -39.3% | 0.13% | -19.6% |
| EBSB | Buy | Meridian Interstate Bancorp | $2,125,000 | +11.0% | 125,001 | +25.0% | 0.13% | +27.3% |
| AUBN | Sell | Auburn National Bancorporation, Inc. | $2,065,000 | -49.4% | 53,878 | -34.6% | 0.12% | -42.2% |
| Sell | Three Shores Bancorporation, Inc. | $1,986,000 | -15.1% | 190,000 | -36.7% | 0.12% | -2.5% | |
| Sell | Freedom Bank of Virginia | $1,797,000 | -17.1% | 148,235 | -17.2% | 0.11% | -4.5% | |
| New | FNS Bancshares, Inc. | $1,748,000 | – | 23,950 | – | 0.10% | – | |
| FXNC | Sell | First National Corporation | $1,756,000 | -30.5% | 81,662 | -34.8% | 0.10% | -20.6% |
| CCB | New | CCB Financial | $1,700,000 | – | 100,000 | – | 0.10% | – |
| FBSS | Sell | Fauquier Bancshares, Inc. | $1,637,000 | +14.1% | 64,676 | -4.4% | 0.10% | +31.1% |
| HTBK | Sell | Heritage Commerce Corp | $1,607,000 | -81.8% | 107,727 | -79.3% | 0.10% | -79.2% |
| SLCT | New | Select Bancorp, Inc. | $1,550,000 | – | 125,000 | – | 0.09% | – |
| ESSA | Sell | ESSA Bancorp, Inc. | $1,508,000 | -24.4% | 92,732 | -26.4% | 0.09% | -13.6% |
| UCBI | Sell | United Community Banks, Inc. | $1,460,000 | -70.1% | 52,355 | -67.1% | 0.09% | -65.5% |
| TOWN | Sell | TowneBank | $1,396,000 | -11.5% | 45,252 | -7.9% | 0.08% | +1.2% |
| ANCX | Buy | Access National Corporation | $1,403,000 | +20.4% | 51,740 | +27.0% | 0.08% | +38.3% |
| WEBK | Buy | Wellesley Bancorp, Inc. | $1,315,000 | +25.8% | 38,393 | +24.3% | 0.08% | +44.4% |
| IROQ | Sell | IF Bancorp, Inc. | $1,186,000 | -8.2% | 51,470 | -4.8% | 0.07% | +4.5% |
| JRVR | Sell | James River Group Holdings, Ltd. | $1,143,000 | -45.3% | 26,809 | -49.6% | 0.07% | -37.0% |
| ESQ | Sell | Esquire Bank, National Association | $1,061,000 | -19.6% | 42,500 | -15.0% | 0.06% | -7.4% |
| CBNK | New | Capital Bancorp, Inc. | $1,018,000 | – | 80,000 | – | 0.06% | – |
| Sell | Americas United Bank | $948,000 | -27.4% | 68,483 | -29.7% | 0.06% | -16.4% | |
| CABF | Buy | Carolina Alliance Bank | $863,000 | +53.8% | 49,369 | +11.3% | 0.05% | +75.9% |
| MPB | New | Mid Penn Bank | $844,000 | – | 28,955 | – | 0.05% | – |
| PGNN | Sell | Paragon Financial Solutions, Inc. | $725,000 | -45.1% | 64,416 | -46.1% | 0.04% | -36.8% |
| TWCF | Sell | Town and Country Financial Corporation | $679,000 | -7.2% | 29,513 | -14.5% | 0.04% | +5.3% |
| FIBK | New | First Interstate BancSystem, Inc. | $570,000 | – | 12,715 | – | 0.03% | – |
| UWHR | Sell | Uwharrie Capital Corp | $368,000 | -61.1% | 66,038 | -58.1% | 0.02% | -55.1% |
| COBZ | Sell | CoBiz Financial Inc. | $332,000 | -87.3% | 15,001 | -87.7% | 0.02% | -85.2% |
| Sell | HomeTown Bankshares Corporation | $152,000 | -74.5% | 11,342 | -73.2% | 0.01% | -71.0% | |
| BUSE | Exit | First Busey Corporation | $0 | – | -6,772 | – | -0.01% | – |
| TRUX | Exit | Truxton Corporation | $0 | – | -9,800 | – | -0.02% | – |
| MN | Exit | Manning & Napier, Inc. | $0 | – | -147,860 | – | -0.02% | – |
| HIFS | Exit | Hingham Institution for Savings | $0 | – | -2,355 | – | -0.03% | – |
| MBTF | Exit | MBT Financial Corp. | $0 | – | -51,293 | – | -0.03% | – |
| FPBK | Exit | First Priority Financial Corp. | $0 | – | -83,179 | – | -0.05% | – |
| PCBC | Exit | Pacific Commerce Bancorp | $0 | – | -118,328 | – | -0.08% | – |
| SOME | Exit | Somerset Trust Holding Company | $0 | – | -42,374 | – | -0.10% | – |
| Exit | First Security, Inc. | $0 | – | -53,475 | – | -0.11% | – | |
| NGHC | Exit | National General Holdings Corporation | $0 | – | -90,388 | – | -0.12% | – |
| CYHT | Exit | Community Bank | $0 | – | -8,750 | – | -0.12% | – |
| CHFN | Exit | Charter Financial Corporation | $0 | – | -103,583 | – | -0.13% | – |
| FNBG | Exit | FNB Bancorp | $0 | – | -94,823 | – | -0.18% | – |
| PRCB | Exit | Premier Commercial Bancorp | $0 | – | -227,645 | – | -0.20% | – |
| NBCT | Exit | Northwest Bancorporation, Inc. | $0 | – | -279,566 | – | -0.31% | – |
Q2 2018
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| MBWM | New | Mercantile Bank Corporation | $48,648,000 | – | 1,316,226 | – | 2.52% | – |
| OBNK | New | Origin Bancorp Inc. | $42,376,000 | – | 1,035,086 | – | 2.19% | – |
| TSC | New | TriState Capital Holdings, Inc. | $40,908,000 | – | 1,567,338 | – | 2.12% | – |
| PGC | New | Peapack-Gladstone Financial Corporation | $40,634,000 | – | 1,174,747 | – | 2.10% | – |
| SASR | New | Sandy Spring Bancorp Inc. | $36,995,000 | – | 902,103 | – | 1.91% | – |
| BLMT | New | BSB Bancorp, Inc. | $32,455,000 | – | 943,460 | – | 1.68% | – |
| OSBC | New | Old Second Bancorp, Inc. | $31,300,000 | – | 2,173,606 | – | 1.62% | – |
| LION | New | Fidelity Southern Corporation | $31,212,000 | – | 1,228,323 | – | 1.61% | – |
| SONA | New | Southern National Bancorp of Virginia,Inc. | $27,110,000 | – | 1,519,625 | – | 1.40% | – |
| EFSC | New | Enterprise Financial Services Corp | $25,789,000 | – | 478,020 | – | 1.33% | – |
| FBMS | New | First Bancshares, Inc. | $24,747,000 | – | 688,364 | – | 1.28% | – |
| FFWM | New | First Foundation Inc. | $24,589,000 | – | 1,326,283 | – | 1.27% | – |
| LBAI | New | Lakeland Bancorp, Inc. | $24,525,000 | – | 1,235,529 | – | 1.27% | – |
| SFST | New | Southern First Bancshares, Inc. | $22,712,000 | – | 513,837 | – | 1.18% | – |
| UBSH | New | Union Bankshares Corporation | $21,759,000 | – | 559,642 | – | 1.12% | – |
| FBIZ | New | First Business Financial Services | $21,633,000 | – | 832,052 | – | 1.12% | – |
| SBBX | New | SB One Bancorp | $20,468,000 | – | 689,144 | – | 1.06% | – |
| UNTY | New | Unity Bancorp, Inc. | $20,387,000 | – | 896,136 | – | 1.05% | – |
| BPFH | New | Boston Private Financial Holdings, Inc. | $20,296,000 | – | 1,276,463 | – | 1.05% | – |
| FCBP | New | First Choice Bancorp | $20,239,000 | – | 662,270 | – | 1.05% | – |
| CVLY | New | Codorus Valley Bancorp, Inc. | $19,812,000 | – | 645,777 | – | 1.02% | – |
| FRBK | New | Republic First Bancorp, Inc. | $18,968,000 | – | 2,416,326 | – | 0.98% | – |
| NCBS | New | Nicolet Bankshares, Inc. | $18,877,000 | – | 342,532 | – | 0.98% | – |
| VBTX | New | Veritex Holdings, Inc. | $18,433,000 | – | 593,273 | – | 0.95% | – |
| LEVL | New | Level One Bancorp, Inc. | $17,811,000 | – | 655,292 | – | 0.92% | – |
| FRBA | New | First Bank | $17,707,000 | – | 1,273,861 | – | 0.92% | – |
| ABTX | New | Allegiance Bancshares, Inc. | $17,660,000 | – | 407,387 | – | 0.91% | – |
| CNOB | New | ConnectOne Bancorp, Inc. | $16,911,000 | – | 679,153 | – | 0.88% | – |
| TBK | New | Triumph Bancorp, Inc. | $16,903,000 | – | 414,796 | – | 0.87% | – |
| WTBFB | New | W.T.B. Financial Corporation | $16,504,000 | – | 43,432 | – | 0.85% | – |
| NCOM | New | National Commerce Corporation | $16,454,000 | – | 355,371 | – | 0.85% | – |
| BWFG | New | Bankwell Financial Group, Inc. | $15,825,000 | – | 492,232 | – | 0.82% | – |
| SBCF | New | Seacoast Banking Corporation of Florida | $15,802,000 | – | 500,369 | – | 0.82% | – |
| IBKC | New | Iberiabank Corp | $15,510,000 | – | 204,613 | – | 0.80% | – |
| ISTR | New | Investar Holding Corporation | $15,056,000 | – | 544,513 | – | 0.78% | – |
| QCRH | New | QCR Holdings, Inc. | $14,689,000 | – | 309,561 | – | 0.76% | – |
| PEBO | New | Peoples Bancorp Inc. | $14,423,000 | – | 381,764 | – | 0.75% | – |
| CVCY | New | Central Valley Community Bancorp | $13,993,000 | – | 661,317 | – | 0.72% | – |
| CCNE | New | CNB Financial Corporation | $13,710,000 | – | 456,087 | – | 0.71% | – |
| EQBK | New | Equity Bancshares, Inc. | $13,499,000 | – | 325,443 | – | 0.70% | – |
| BFST | New | Business First Bancshares, Inc. | $13,439,000 | – | 510,000 | – | 0.70% | – |
| MLVF | New | Malvern Bancorp, Inc. | $13,219,000 | – | 542,894 | – | 0.68% | – |
| WSBF | New | Waterstone Financial, Inc. | $13,208,000 | – | 774,657 | – | 0.68% | – |
| FCCY | New | 1st Constitution Bancorp | $13,030,000 | – | 569,010 | – | 0.67% | – |
| CATC | New | Cambridge Bancorp | $13,022,000 | – | 150,475 | – | 0.67% | – |
| SMBK | New | SmartFinancial, Inc. | $13,020,000 | – | 505,420 | – | 0.67% | – |
| New | Suncrest Bank | $12,763,000 | – | 945,440 | – | 0.66% | – | |
| FMBI | New | First Midwest Bancorp, Inc. | $12,553,000 | – | 492,836 | – | 0.65% | – |
| BMRC | New | Bank of Marin Bancorp | $12,173,000 | – | 150,557 | – | 0.63% | – |
| FCB | New | FCB Financial Holdings, Inc. | $12,023,000 | – | 204,475 | – | 0.62% | – |
| SAMG | New | Silvercrest Asset Management Group Inc. | $11,738,000 | – | 720,132 | – | 0.61% | – |
| EBTC | New | Enterprise Bancorp, Inc. | $11,666,000 | – | 288,552 | – | 0.60% | – |
| BY | New | Byline Bancorp, Inc. | $11,458,000 | – | 512,885 | – | 0.59% | – |
| MNSB | New | MainStreet Bancshares, Inc. | $11,103,000 | – | 535,075 | – | 0.57% | – |
| SHBI | New | Shore Bancshares, Inc. | $10,760,000 | – | 565,733 | – | 0.56% | – |
| PBAM | New | Private Bancorp of America, Inc. | $10,746,000 | – | 416,178 | – | 0.56% | – |
| BSRR | New | Sierra Bancorp | $10,693,000 | – | 378,651 | – | 0.55% | – |
| PSBQ | New | PSB Holdings, Inc. | $10,287,000 | – | 139,015 | – | 0.53% | – |
| GNBC | New | Green Bancorp, Inc. | $10,244,000 | – | 474,269 | – | 0.53% | – |
| BPRN | New | Bank of Princeton | $10,232,000 | – | 307,721 | – | 0.53% | – |
| OVLY | New | Oak Valley Bancorp | $10,188,000 | – | 445,489 | – | 0.53% | – |
| OLBK | New | Old Line Bancshares, Inc. | $9,938,000 | – | 284,686 | – | 0.51% | – |
| FGFH | New | Foresight Financial Group, Inc. | $9,880,000 | – | 279,091 | – | 0.51% | – |
| SBNC | New | Southern BancShares (N.C.), Inc. | $9,739,000 | – | 2,563 | – | 0.50% | – |
| EGBN | New | Eagle Bancorp, Inc. | $9,672,000 | – | 157,777 | – | 0.50% | – |
| RBNC | New | Reliant Bancorp, Inc. | $9,594,000 | – | 342,020 | – | 0.50% | – |
| CSFL | New | CenterState Bank Corporation | $9,457,000 | – | 317,150 | – | 0.49% | – |
| STBZ | New | State Bank Financial Corporation | $9,412,000 | – | 281,811 | – | 0.49% | – |
| BOCH | New | Bank of Commerce Holdings | $9,288,000 | – | 728,469 | – | 0.48% | – |
| TCFC | New | Community Financial Corporation | $9,234,000 | – | 261,132 | – | 0.48% | – |
| MRBK | New | Meridian Bank | $9,184,000 | – | 504,906 | – | 0.48% | – |
| FBC | New | Flagstar Bancorp, Inc. | $9,160,000 | – | 267,365 | – | 0.47% | – |
| UBNK | New | United Financial Bancorp, Inc. | $9,154,000 | – | 522,510 | – | 0.47% | – |
| HTBK | New | Heritage Commerce Corp | $8,832,000 | – | 519,816 | – | 0.46% | – |
| OCBI | New | Orange County Bancorp | $8,655,000 | – | 270,456 | – | 0.45% | – |
| MVBF | New | MVB Financial Corp. | $8,633,000 | – | 478,261 | – | 0.45% | – |
| BANC | New | Banc of California, Inc. | $8,485,000 | – | 433,998 | – | 0.44% | – |
| QNBC | New | QNB Corp. | $8,044,000 | – | 172,425 | – | 0.42% | – |
| STND | New | Standard AVB Financial Corp. | $8,029,000 | – | 265,327 | – | 0.42% | – |
| WBBW | New | Westbury Bancorp, Inc. | $7,951,000 | – | 356,064 | – | 0.41% | – |
| BFC | New | Bank First National Corporation | $7,904,000 | – | 147,494 | – | 0.41% | – |
| AMBZ | New | American Business Bank | $7,911,000 | – | 199,008 | – | 0.41% | – |
| New | Mountain Commerce Bancorp | $7,706,000 | – | 398,253 | – | 0.40% | – | |
| New | Bank of Southern California, N. A. | $7,720,000 | – | 523,390 | – | 0.40% | – | |
| ESXB | New | Community Bankers Trust Corporation | $7,689,000 | – | 859,154 | – | 0.40% | – |
| ICBK | New | County Bancorp, Inc. | $7,418,000 | – | 269,731 | – | 0.38% | – |
| BFIN | New | BankFinancial Corporation | $7,386,000 | – | 418,487 | – | 0.38% | – |
| New | Centric Financial Corporation | $7,386,000 | – | 642,292 | – | 0.38% | – | |
| MBIN | New | Merchants Bancorp | $7,337,000 | – | 257,153 | – | 0.38% | – |
| New | American Riviera Bank | $7,261,000 | – | 381,965 | – | 0.38% | – | |
| TGRF | New | TGR Financial, Inc. | $7,197,000 | – | 578,518 | – | 0.37% | – |
| CARO | New | Carolina Financial Corporation | $7,181,000 | – | 167,316 | – | 0.37% | – |
| BCBP | New | BCB Bancorp, Inc. | $7,155,000 | – | 476,996 | – | 0.37% | – |
| FLIC | New | First of Long Island Corp. | $7,133,000 | – | 287,050 | – | 0.37% | – |
| MCB | New | Metropolitan Bank Holding Corp. | $6,822,000 | – | 130,000 | – | 0.35% | – |
| AVBH | New | Avidbank Holdings, Inc. | $6,589,000 | – | 263,543 | – | 0.34% | – |
| PFLC | New | Pacific Financial Corporation | $6,601,000 | – | 558,266 | – | 0.34% | – |
| MCBC | New | Macatawa Bank Corporation | $6,575,000 | – | 541,618 | – | 0.34% | – |
| CALB | New | California BanCorp | $6,364,000 | – | 293,942 | – | 0.33% | – |
| FSB | New | Franklin Financial Network, Inc. | $6,241,000 | – | 165,976 | – | 0.32% | – |
| NWYF | New | Northway Financial, Inc. | $6,209,000 | – | 200,305 | – | 0.32% | – |
| BMTC | New | Bryn Mawr Bank Corporation | $6,110,000 | – | 131,971 | – | 0.32% | – |
| MFGI | New | Merchants Financial Group, Inc. | $6,114,000 | – | 81,687 | – | 0.32% | – |
| NBCT | New | Northwest Bancorporation, Inc. | $5,999,000 | – | 279,566 | – | 0.31% | – |
| FVCB | New | First Virginia Community Bank | $5,823,000 | – | 338,561 | – | 0.30% | – |
| FETM | New | Fentura Financial, Inc. | $5,790,000 | – | 274,411 | – | 0.30% | – |
| SBT | New | Sterling Bancorp, Inc. | $5,758,000 | – | 431,000 | – | 0.30% | – |
| WNRP | New | West Suburban Bancorp, Inc. | $5,762,000 | – | 8,350 | – | 0.30% | – |
| FDEF | New | First Defiance Financial Corp. | $5,757,000 | – | 85,850 | – | 0.30% | – |
| FISB | New | 1st Capital Bank | $5,712,000 | – | 329,249 | – | 0.30% | – |
| CNBKA | New | Century Bancorp, Inc. | $5,568,000 | – | 72,882 | – | 0.29% | – |
| FNRN | New | First Northern Community Bancorp | $5,502,000 | – | 401,298 | – | 0.28% | – |
| FNBT | New | FineMark Holdings, Inc. | $5,461,000 | – | 191,600 | – | 0.28% | – |
| UVSP | New | Univest Corporation of Pennsylvania | $5,210,000 | – | 189,452 | – | 0.27% | – |
| VABK | New | Virginia National Bankshares Corp. | $5,108,000 | – | 99,401 | – | 0.26% | – |
| CSTR | New | CapStar Financial Holdings, Inc. | $5,103,000 | – | 275,400 | – | 0.26% | – |
| JMSB | New | John Marshall Bank | $4,987,000 | – | 267,375 | – | 0.26% | – |
| FCCO | New | First Community Corporation | $4,989,000 | – | 198,768 | – | 0.26% | – |
| UIHC | New | United Insurance Holdings Corp. | $4,924,000 | – | 251,459 | – | 0.26% | – |
| UCBI | New | United Community Banks, Inc. | $4,877,000 | – | 159,022 | – | 0.25% | – |
| RVSB | New | Riverview Bancorp, Inc. | $4,877,000 | – | 577,900 | – | 0.25% | – |
| BDGE | New | Bridge Bancorp Inc. | $4,861,000 | – | 135,220 | – | 0.25% | – |
| INBK | New | First Internet Bancorp | $4,740,000 | – | 139,000 | – | 0.24% | – |
| MVLY | New | Mission Valley Bancorp | $4,720,000 | – | 277,639 | – | 0.24% | – |
| FRAF | New | Franklin Financial Services Corp. | $4,600,000 | – | 134,309 | – | 0.24% | – |
| CART | New | Carolina Trust BancShares, Inc. | $4,543,000 | – | 551,294 | – | 0.24% | – |
| CBFV | New | CB Financial Services, Inc. | $4,390,000 | – | 127,616 | – | 0.23% | – |
| FBK | New | FB Financial Corp. | $4,273,000 | – | 104,940 | – | 0.22% | – |
| GNTY | New | Guaranty Bancshares, Inc. | $4,267,000 | – | 129,547 | – | 0.22% | – |
| FCOB | New | 1st Colonial Bancorp | $4,259,000 | – | 353,477 | – | 0.22% | – |
| FISI | New | Financial Institutions, Inc. | $4,232,000 | – | 128,619 | – | 0.22% | – |
| BRKL | New | Brookline-MA | $4,237,000 | – | 227,800 | – | 0.22% | – |
| PBNK | New | Pinnacle Bank | $4,212,000 | – | 290,563 | – | 0.22% | – |
| TRCB | New | Two River Bancorp | $4,204,000 | – | 219,736 | – | 0.22% | – |
| DCOM | New | Dime Community Bancshares, Inc. | $4,169,000 | – | 213,800 | – | 0.22% | – |
| CBTX | New | CBTX, Inc. | $4,131,000 | – | 125,000 | – | 0.21% | – |
| FMNB | New | Farmers National Banc Corp. | $4,146,000 | – | 259,910 | – | 0.21% | – |
| KTYB | New | Kentucky Bancshares, Inc. | $4,121,000 | – | 82,254 | – | 0.21% | – |
| YRKB | New | York Traditions Bank | $4,118,000 | – | 204,391 | – | 0.21% | – |
| AUBN | New | Auburn National Bancorporation, Inc. | $4,084,000 | – | 82,327 | – | 0.21% | – |
| KINS | New | Kingstone Companies, Inc. | $4,064,000 | – | 240,500 | – | 0.21% | – |
| EMCF | New | Emclaire Financial Corp. | $4,020,000 | – | 117,207 | – | 0.21% | – |
| BOTJ | New | Bank of the James Financial Group, Inc. | $3,991,000 | – | 241,156 | – | 0.21% | – |
| CSHX | New | Cashmere Valley Bank | $3,971,000 | – | 57,882 | – | 0.20% | – |
| CFST | New | Communities First Financial Corporation | $3,936,000 | – | 170,745 | – | 0.20% | – |
| CBWA | New | Commencement Bank | $3,905,000 | – | 231,041 | – | 0.20% | – |
| MBCN | New | Middlefield Banc Corp. | $3,878,000 | – | 76,491 | – | 0.20% | – |
| LTXB | New | LegacyTexas Financial Group, Inc. | $3,831,000 | – | 98,192 | – | 0.20% | – |
| PRCB | New | Premier Commercial Bancorp | $3,824,000 | – | 227,645 | – | 0.20% | – |
| LSBK | New | Lake Shore Bancorp | $3,771,000 | – | 219,879 | – | 0.20% | – |
| MOFG | New | MidWestOne Financial Group, Inc. | $3,685,000 | – | 109,100 | – | 0.19% | – |
| New | Embassy Bancorp, Inc. | $3,597,000 | – | 209,137 | – | 0.19% | – | |
| LBC | New | Luther Burbank Corporation | $3,603,000 | – | 313,000 | – | 0.19% | – |
| HBMD | New | Howard Bancorp, Inc. | $3,594,000 | – | 199,687 | – | 0.19% | – |
| New | Highlands Bancorp, Inc. | $3,586,000 | – | 236,720 | – | 0.18% | – | |
| FNBG | New | FNB Bancorp | $3,477,000 | – | 94,823 | – | 0.18% | – |
| SCSG | New | SouthCrest Financial Group, Inc. | $3,434,000 | – | 284,968 | – | 0.18% | – |
| BHB | New | Bar Harbor Bankshares | $3,415,000 | – | 112,729 | – | 0.18% | – |
| CBKM | New | Consumers Bancorp, Inc. | $3,409,000 | – | 142,032 | – | 0.18% | – |
| REVB | New | Revere Bank | $3,385,000 | – | 110,817 | – | 0.18% | – |
| New | Southern States Bancshares | $3,366,000 | – | 232,143 | – | 0.17% | – | |
| NWIN | New | NorthWest Indiana Bancorp | $3,371,000 | – | 78,476 | – | 0.17% | – |
| CZFS | New | Citizens Financial Services | $3,331,000 | – | 52,872 | – | 0.17% | – |
| PPBN | New | Pinnacle Bankshares Corporation | $3,263,000 | – | 110,230 | – | 0.17% | – |
| New | Two Rivers Financial Group, Inc. | $3,181,000 | – | 93,708 | – | 0.16% | – | |
| BKOR | New | Oak Ridge Financial Services, Inc. | $3,119,000 | – | 201,193 | – | 0.16% | – |
| HFBL | New | Home Federal Bancorp, Inc. of Louisiana | $3,100,000 | – | 98,556 | – | 0.16% | – |
| NECB | New | Northeast Community Bancorp, Inc. | $3,049,000 | – | 276,900 | – | 0.16% | – |
| New | Metro Phoenix Bank | $3,061,000 | – | 261,167 | – | 0.16% | – | |
| LMST | New | Limestone Bancorp, Inc. | $3,047,000 | – | 199,935 | – | 0.16% | – |
| TRCY | New | Tri City Bankshares Corporation | $2,959,000 | – | 136,970 | – | 0.15% | – |
| FGBI | New | First Guaranty Bancshares, Inc. | $2,956,000 | – | 113,590 | – | 0.15% | – |
| New | Citizens Bancorp | $2,942,000 | – | 145,261 | – | 0.15% | – | |
| DNBF | New | DNB Financial Corporation | $2,869,000 | – | 81,867 | – | 0.15% | – |
| SBFG | New | SB Financial Group, Inc. | $2,822,000 | – | 138,889 | – | 0.15% | – |
| RCBC | New | River City Bank | $2,813,000 | – | 12,557 | – | 0.14% | – |
| HFWA | New | Heritage Financial Corporation | $2,796,000 | – | 80,225 | – | 0.14% | – |
| RIVE | New | Riverview Financial Corporation | $2,742,000 | – | 216,760 | – | 0.14% | – |
| SBTB | New | SBT Bancorp, Inc. | $2,737,000 | – | 79,321 | – | 0.14% | – |
| FMBH | New | First Mid-Illinois | $2,719,000 | – | 69,197 | – | 0.14% | – |
| New | Community Bank of the Bay | $2,733,000 | – | 404,940 | – | 0.14% | – | |
| SOMC | New | Southern Michigan Bancorp Inc. | $2,615,000 | – | 71,630 | – | 0.14% | – |
| COBZ | New | CoBiz Financial Inc. | $2,617,000 | – | 121,853 | – | 0.14% | – |
| STXB | New | Spirit of Texas Bancshares, Inc. | $2,575,000 | – | 125,000 | – | 0.13% | – |
| SSBI | New | Summit State Bank | $2,565,000 | – | 166,007 | – | 0.13% | – |
| FXNC | New | First National Corporation | $2,525,000 | – | 125,322 | – | 0.13% | – |
| CHFN | New | Charter Financial Corporation | $2,502,000 | – | 103,583 | – | 0.13% | – |
| EFSI | New | Eagle Financial Services Inc. | $2,496,000 | – | 69,365 | – | 0.13% | – |
| FNHC | New | FedNat Holding Company | $2,471,000 | – | 107,100 | – | 0.13% | – |
| CYSM | New | Community Bancorp of Santa Maria | $2,451,000 | – | 173,824 | – | 0.13% | – |
| CYHT | New | Community Bank | $2,424,000 | – | 8,750 | – | 0.12% | – |
| PDOB | New | Presidio Bank | $2,408,000 | – | 91,044 | – | 0.12% | – |
| CCNB | New | Coastal Carolina Bancshares, Inc. | $2,402,000 | – | 262,238 | – | 0.12% | – |
| BSCA | New | Bank of Santa Clarita | $2,389,000 | – | 118,860 | – | 0.12% | – |
| CYFL | New | Century Financial Corporation | $2,403,000 | – | 121,646 | – | 0.12% | – |
| NGHC | New | National General Holdings Corporation | $2,380,000 | – | 90,388 | – | 0.12% | – |
| ACBI | New | Atlantic Capital Bancshares, Inc. | $2,371,000 | – | 120,646 | – | 0.12% | – |
| New | Three Shores Bancorporation, Inc. | $2,340,000 | – | 300,000 | – | 0.12% | – | |
| PBCO | New | People's Bank of Commerce | $2,338,000 | – | 173,725 | – | 0.12% | – |
| New | First Home Bancorp, Inc. | $2,316,000 | – | 89,062 | – | 0.12% | – | |
| GRRB | New | GrandSouth Bancorporation | $2,313,000 | – | 125,000 | – | 0.12% | – |
| New | Professional Holding Corp. | $2,250,000 | – | 125,000 | – | 0.12% | – | |
| LFGP | New | Ledyard Financial Group, Inc. | $2,233,000 | – | 100,350 | – | 0.12% | – |
| New | Freedom Bank of Virginia | $2,167,000 | – | 179,059 | – | 0.11% | – | |
| New | First Security, Inc. | $2,158,000 | – | 53,475 | – | 0.11% | – | |
| CCBC | New | Chino Commercial Bancorp | $2,094,000 | – | 115,327 | – | 0.11% | – |
| JRVR | New | James River Group Holdings, Ltd. | $2,091,000 | – | 53,210 | – | 0.11% | – |
| WASH | New | Washington Trust Bancorp, Inc. | $2,044,000 | – | 35,175 | – | 0.11% | – |
| IBTX | New | Independent Bank Group, Inc | $2,037,000 | – | 30,500 | – | 0.10% | – |
| ESSA | New | ESSA Bancorp, Inc. | $1,995,000 | – | 126,022 | – | 0.10% | – |
| SABK | New | South Atlantic Bancshares, Inc. | $1,972,000 | – | 137,388 | – | 0.10% | – |
| New | Aquesta Financial Holdings, Inc. | $1,974,000 | – | 162,518 | – | 0.10% | – | |
| SOME | New | Somerset Trust Holding Company | $1,907,000 | – | 42,374 | – | 0.10% | – |
| EBSB | New | Meridian Interstate Bancorp | $1,915,000 | – | 100,001 | – | 0.10% | – |
| New | Peoples Bancorp | $1,844,000 | – | 8,996 | – | 0.10% | – | |
| LGHT | New | Lighthouse Bank | $1,812,000 | – | 75,995 | – | 0.09% | – |
| AMFC | New | AMB Financial Corp. | $1,730,000 | – | 93,750 | – | 0.09% | – |
| FSBS | New | First South Bancorp, Inc. | $1,597,000 | – | 1,597,246 | – | 0.08% | – |
| PCBC | New | Pacific Commerce Bancorp | $1,597,000 | – | 118,328 | – | 0.08% | – |
| TOWN | New | TowneBank | $1,578,000 | – | 49,152 | – | 0.08% | – |
| PMHG | New | Prime Meridian Holding Company | $1,572,000 | – | 77,415 | – | 0.08% | – |
| SOBS | New | Solvay Bank Corporation | $1,550,000 | – | 37,743 | – | 0.08% | – |
| PCLB | New | Pinnacle Bancshares, Inc. | $1,502,000 | – | 62,565 | – | 0.08% | – |
| EMPK | New | Empire Bancorp Inc. | $1,503,000 | – | 100,188 | – | 0.08% | – |
| FBSS | New | Fauquier Bancshares, Inc. | $1,435,000 | – | 67,676 | – | 0.07% | – |
| SF | New | Stifel Financial Corp. | $1,433,000 | – | 27,427 | – | 0.07% | – |
| SCZC | New | Santa Cruz County Bank | $1,339,000 | – | 27,365 | – | 0.07% | – |
| ESQ | New | Esquire Bank, National Association | $1,320,000 | – | 50,000 | – | 0.07% | – |
| MNVB | New | Middletown Valley Bank | $1,318,000 | – | 52,632 | – | 0.07% | – |
| PGNN | New | Paragon Financial Solutions, Inc. | $1,321,000 | – | 119,536 | – | 0.07% | – |
| IROQ | New | IF Bancorp, Inc. | $1,292,000 | – | 54,072 | – | 0.07% | – |
| New | Americas United Bank | $1,305,000 | – | 97,400 | – | 0.07% | – | |
| BWB | New | Bridgewater Bancshares, Inc. | $1,272,000 | – | 100,000 | – | 0.07% | – |
| BFTL | New | Bank of Fincastle | $1,185,000 | – | 506,486 | – | 0.06% | – |
| New | Sevier County Bancshares, Inc. | $1,172,000 | – | 110,000 | – | 0.06% | – | |
| SAL | New | Salisbury Bancorp, Inc. | $1,159,000 | – | 26,216 | – | 0.06% | – |
| ANCX | New | Access National Corporation | $1,165,000 | – | 40,740 | – | 0.06% | – |
| TYFG | New | Tri-County Financial Group, Inc. | $1,145,000 | – | 26,822 | – | 0.06% | – |
| New | Grand River Commerce, Inc. | $1,091,000 | – | 181,819 | – | 0.06% | – | |
| New | Greater Hudson Bank | $1,059,000 | – | 189,149 | – | 0.06% | – | |
| WEBK | New | Wellesley Bancorp, Inc. | $1,045,000 | – | 30,879 | – | 0.05% | – |
| CARE | New | Carter Bank & Trust | $1,013,000 | – | 56,406 | – | 0.05% | – |
| FPBK | New | First Priority Financial Corp. | $991,000 | – | 83,179 | – | 0.05% | – |
| VBFC | New | Village Bank and Trust Financial Corp. | $983,000 | – | 29,133 | – | 0.05% | – |
| UWHR | New | Uwharrie Capital Corp | $947,000 | – | 157,538 | – | 0.05% | – |
| SRYB | New | Surrey Bancorp | $935,000 | – | 69,785 | – | 0.05% | – |
| New | Pioneer Bancshares, Inc | $914,000 | – | 30,000 | – | 0.05% | – | |
| AJSB | New | AJS Bancorp, Inc. | $796,000 | – | 56,668 | – | 0.04% | – |
| TWCF | New | Town and Country Financial Corporation | $732,000 | – | 34,513 | – | 0.04% | – |
| New | First Reliance Bancshares, Inc. | $636,000 | – | 84,792 | – | 0.03% | – | |
| New | HomeTown Bankshares Corporation | $595,000 | – | 42,342 | – | 0.03% | – | |
| FCIT | New | First Citrus Bancorporation, Inc. | $570,000 | – | 22,567 | – | 0.03% | – |
| CABF | New | Carolina Alliance Bank | $561,000 | – | 44,369 | – | 0.03% | – |
| MBTF | New | MBT Financial Corp. | $546,000 | – | 51,293 | – | 0.03% | – |
| HIFS | New | Hingham Institution for Savings | $517,000 | – | 2,355 | – | 0.03% | – |
| AMRB | New | American River Bankshares | $515,000 | – | 32,522 | – | 0.03% | – |
| FFMH | New | First Farmers and Merchants Corporation | $521,000 | – | 12,500 | – | 0.03% | – |
| MN | New | Manning & Napier, Inc. | $458,000 | – | 147,860 | – | 0.02% | – |
| TRUX | New | Truxton Corporation | $370,000 | – | 9,800 | – | 0.02% | – |
| CZWI | New | Citizens Community Bancorp, Inc. | $325,000 | – | 23,000 | – | 0.02% | – |
| SBAZ | New | State Bank Corp. | $331,000 | – | 21,100 | – | 0.02% | – |
| GBNK | New | Guaranty Bancorp | $298,000 | – | 10,000 | – | 0.02% | – |
| PBBI | New | PB Bancorp, Inc. | $270,000 | – | 23,801 | – | 0.01% | – |
| BUSE | New | First Busey Corporation | $215,000 | – | 6,772 | – | 0.01% | – |
| BLHK | New | blueharbor bank | $131,000 | – | 10,800 | – | 0.01% | – |
Q4 2017
Q3 2017
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| MBWM | Buy | Mercantile Bank Corporation | $50,719,000 | +14.5% | 1,453,262 | +3.3% | 2.27% | +12.7% |
| STBZ | Sell | State Bank Financial Corporation | $48,236,000 | -3.6% | 1,683,639 | -8.7% | 2.16% | -5.0% |
| PGC | Sell | Peapack-Gladstone Financial Corporation | $48,257,000 | +5.0% | 1,430,263 | -2.6% | 2.16% | +3.4% |
| EFSC | Sell | Enterprise Financial Services Corp | $46,787,000 | -6.5% | 1,104,767 | -9.9% | 2.10% | -7.9% |
| TSC | Sell | TriState Capital Holdings, Inc. | $40,897,000 | -11.5% | 1,785,883 | -2.6% | 1.83% | -12.8% |
| CSFL | Sell | CenterState Bank Corporation | $35,653,000 | +5.9% | 1,330,329 | -1.7% | 1.60% | +4.3% |
| LION | Buy | Fidelity Southern Corporation | $33,769,000 | +4.1% | 1,428,478 | +0.7% | 1.51% | +2.6% |
| SASR | Sell | Sandy Spring Bancorp Inc. | $33,624,000 | -4.1% | 811,385 | -5.9% | 1.51% | -5.5% |
| OSBC | Sell | Old Second Bancorp, Inc. | $32,877,000 | +15.7% | 2,444,384 | -0.6% | 1.47% | +13.9% |
| LBAI | Sell | Lakeland Bancorp, Inc. | $30,663,000 | +7.5% | 1,503,099 | -0.6% | 1.37% | +5.9% |
| BPFH | Buy | Boston Private Financial Holdings, Inc. | $28,800,000 | +8.4% | 1,740,163 | +0.6% | 1.29% | +6.9% |
| COBZ | Sell | CoBiz Financial Inc. | $28,314,000 | +0.7% | 1,441,653 | -10.8% | 1.27% | -0.8% |
| SONA | Buy | Southern National Bancorp of Virginia,Inc. | $28,131,000 | +7.9% | 1,655,747 | +11.8% | 1.26% | +6.3% |
| BLMT | Buy | BSB Bancorp, Inc. | $28,047,000 | +6.6% | 936,460 | +4.1% | 1.26% | +4.9% |
| NBHC | Sell | National Bank Holdings Corporation | $25,176,000 | -6.9% | 705,420 | -13.6% | 1.13% | -8.3% |
| NCBS | Sell | Nicolet Bankshares, Inc. | $21,416,000 | +5.2% | 372,260 | -0.0% | 0.96% | +3.6% |
| SBCF | Buy | Seacoast Banking Corporation of Florida | $21,099,000 | -0.5% | 883,169 | +0.3% | 0.94% | -2.1% |
| QCRH | Sell | QCR Holdings, Inc. | $20,869,000 | -9.2% | 458,655 | -5.5% | 0.94% | -10.6% |
| FBMS | Sell | First Bancshares, Inc. | $20,769,000 | +6.2% | 688,843 | -2.8% | 0.93% | +4.6% |
| VBTX | Buy | Veritex Holdings, Inc. | $20,432,000 | +30.1% | 757,847 | +27.1% | 0.92% | +28.1% |
| BWFG | Buy | Bankwell Financial Group, Inc. | $20,259,000 | +57.4% | 548,432 | +33.1% | 0.91% | +54.9% |
| HOMB | New | Home BancShares, Inc. | $20,251,000 | – | 802,986 | – | 0.91% | – |
| IBKC | Buy | Iberiabank Corp | $19,760,000 | +15.7% | 240,534 | +14.8% | 0.88% | +13.9% |
| CVCY | Sell | Central Valley Community Bancorp | $19,520,000 | -2.0% | 875,327 | -2.6% | 0.88% | -3.4% |
| FRBA | Sell | First Bank | $18,144,000 | +14.1% | 1,364,234 | -0.0% | 0.81% | +12.4% |
| WSBF | Sell | Waterstone Financial, Inc. | $18,111,000 | +2.3% | 928,769 | -1.1% | 0.81% | +0.9% |
| CNOB | Sell | ConnectOne Bancorp, Inc. | $17,937,000 | +1.4% | 729,153 | -7.0% | 0.80% | -0.1% |
| FBNC | Sell | First Bancorp | $17,602,000 | -5.0% | 511,550 | -13.7% | 0.79% | -6.4% |
| ABTX | Buy | Allegiance Bancshares, Inc. | $17,277,000 | -0.9% | 469,485 | +3.1% | 0.77% | -2.4% |
| FMBI | Sell | First Midwest Bancorp, Inc. | $16,464,000 | -39.3% | 702,977 | -39.6% | 0.74% | -40.2% |
| CATC | Sell | Cambridge Bancorp | $16,429,000 | -4.4% | 235,544 | -7.8% | 0.74% | -5.9% |
| EGBN | Sell | Eagle Bancorp, Inc. | $16,393,000 | +1.8% | 244,490 | -3.9% | 0.74% | +0.3% |
| PSTB | Sell | Park Sterling Corp. | $16,389,000 | -46.9% | 1,319,558 | -49.2% | 0.73% | -47.8% |
| WTBFB | Sell | W.T.B. Financial Corporation | $16,127,000 | -11.5% | 54,300 | -15.0% | 0.72% | -12.8% |
| FFWM | Buy | First Foundation Inc. | $16,079,000 | +20.2% | 898,773 | +10.4% | 0.72% | +18.4% |
| NCOM | Sell | National Commerce Corporation | $15,851,000 | +4.0% | 370,351 | -3.9% | 0.71% | +2.3% |
| Buy | First Choice Bank | $15,659,000 | +26.5% | 652,454 | +19.7% | 0.70% | +24.7% | |
| MBFI | Sell | MB Financial, Inc. | $15,449,000 | -3.4% | 343,159 | -5.5% | 0.69% | -4.9% |
| CUNB | Sell | CU Bancorp | $15,075,000 | -2.9% | 388,830 | -9.4% | 0.68% | -4.2% |
| CCNE | Sell | CNB Financial Corporation | $14,373,000 | +9.8% | 526,087 | -3.7% | 0.64% | +8.1% |
| UBSH | Sell | Union Bankshares Corporation | $13,635,000 | -19.9% | 386,248 | -23.1% | 0.61% | -21.2% |
| SBBX | Buy | Sussex Bancorp | $13,385,000 | +4.8% | 564,767 | +7.6% | 0.60% | +3.3% |
| OKSB | Sell | Southwest Bancorp, Inc. | $13,398,000 | -29.5% | 486,302 | -34.6% | 0.60% | -30.6% |
| TBK | Buy | Triumph Bancorp, Inc. | $12,845,000 | +75.4% | 398,300 | +33.5% | 0.58% | +73.0% |
| OLBK | Sell | Old Line Bancshares, Inc. | $12,758,000 | -8.4% | 455,630 | -7.8% | 0.57% | -9.8% |
| FNBG | Sell | FNB Bancorp | $12,474,000 | +13.9% | 367,750 | -7.8% | 0.56% | +12.2% |
| FCCY | Buy | 1st Constitution Bancorp | $12,257,000 | +10.8% | 675,318 | +7.7% | 0.55% | +9.1% |
| FLIC | Sell | First of Long Island Corp. | $11,509,000 | +4.4% | 377,953 | -1.9% | 0.52% | +3.0% |
| GNBC | Buy | Green Bancorp, Inc. | $11,335,000 | +24.8% | 479,269 | +2.4% | 0.51% | +23.0% |
| UBNK | Buy | United Financial Bancorp, Inc. | $11,067,000 | +23.9% | 605,086 | +13.1% | 0.50% | +22.2% |
| UCBI | Buy | United Community Banks, Inc. | $10,815,000 | +32.9% | 378,959 | +29.4% | 0.48% | +31.1% |
| BANC | Buy | Banc of California, Inc. | $10,745,000 | +82.3% | 517,828 | +88.8% | 0.48% | +79.9% |
| ESXB | Sell | Community Bankers Trust Corporation | $10,669,000 | -1.2% | 1,159,642 | -11.4% | 0.48% | -2.6% |
| SMBK | Buy | SmartFinancial, Inc. | $10,490,000 | +10.3% | 436,000 | +9.4% | 0.47% | +8.5% |
| AMBZ | Buy | American Business Bank | $10,200,000 | -0.3% | 267,008 | +9.6% | 0.46% | -1.9% |
| BMRC | Buy | Bank of Marin Bancorp | $10,095,000 | +53.9% | 147,365 | +38.3% | 0.45% | +51.2% |
| CARO | Sell | Carolina Financial Corporation | $9,532,000 | -5.1% | 265,661 | -14.5% | 0.43% | -6.6% |
| FBC | Buy | Flagstar Bancorp, Inc. | $9,530,000 | +77.8% | 268,600 | +54.5% | 0.43% | +75.0% |
| PBAM | Buy | Private Bancorp of America, Inc. | $9,472,000 | +15.3% | 408,980 | +14.8% | 0.42% | +13.4% |
| FCB | Buy | FCB Financial Holdings, Inc. | $9,219,000 | +41.0% | 190,871 | +39.5% | 0.41% | +39.1% |
| ICBK | Buy | County Bancorp, Inc. | $8,995,000 | +76.5% | 299,330 | +41.0% | 0.40% | +73.7% |
| FGFH | Buy | Foresight Financial Group, Inc. | $8,829,000 | +10.7% | 286,642 | +8.4% | 0.40% | +9.1% |
| QNBC | Buy | QNB Corp. | $8,699,000 | +1.3% | 214,584 | +0.8% | 0.39% | -0.3% |
| MBTF | Sell | MBT Financial Corp. | $8,684,000 | +11.3% | 793,033 | -1.4% | 0.39% | +9.6% |
| CHFN | Buy | Charter Financial Corporation | $8,041,000 | +5.4% | 433,957 | +2.4% | 0.36% | +3.7% |
| MCBC | Sell | Macatawa Bank Corporation | $7,985,000 | +6.2% | 778,293 | -1.3% | 0.36% | +4.7% |
| CUBN | Buy | Commerce Union Bancshares, Inc. | $7,928,000 | +172.2% | 342,020 | +180.3% | 0.36% | +166.9% |
| STND | Buy | Standard AVB Financial Corp. | $7,910,000 | +5.4% | 268,150 | +0.9% | 0.35% | +3.5% |
| NBCT | Buy | Northwest Bancorporation, Inc. | $7,670,000 | +6.8% | 644,544 | +7.7% | 0.34% | +5.2% |
| FBK | Sell | FB Financial Corp. | $7,539,000 | -0.7% | 199,868 | -4.8% | 0.34% | -2.3% |
| PUGB | Buy | Puget Sound Bank | $7,365,000 | +114.9% | 207,731 | +47.9% | 0.33% | +111.5% |
| BFIN | Buy | BankFinancial Corporation | $7,333,000 | +11.5% | 461,487 | +4.7% | 0.33% | +10.0% |
| ACBI | Sell | Atlantic Capital Bancshares, Inc. | $7,270,000 | -12.3% | 400,555 | -8.1% | 0.33% | -13.5% |
| BFC | Sell | Bank First National Corporation | $7,240,000 | +0.4% | 188,844 | -5.0% | 0.32% | -1.2% |
| FISI | Buy | Financial Institutions, Inc. | $7,150,000 | +27.5% | 248,261 | +31.9% | 0.32% | +25.5% |
| FVCB | Buy | First Virginia Community Bank | $7,081,000 | +7.5% | 417,749 | +25.0% | 0.32% | +5.7% |
| CSTR | Buy | CapStar Financial Holdings, Inc. | $6,939,000 | +21.0% | 354,400 | +9.6% | 0.31% | +19.2% |
| BCBP | Buy | BCB Bancorp, Inc. | $6,557,000 | +58.7% | 470,000 | +74.1% | 0.29% | +56.4% |
| MNSB | Sell | MainStreet Bancshares, Inc. | $6,541,000 | +1.3% | 401,300 | -0.2% | 0.29% | -0.3% |
| FCCO | Sell | First Community Corporation | $6,510,000 | -5.6% | 318,319 | -3.0% | 0.29% | -7.0% |
| CALB | New | California BanCorp | $6,416,000 | – | 345,900 | – | 0.29% | – |
| BPRN | New | Bank of Princeton | $6,398,000 | – | 200,000 | – | 0.29% | – |
| FNRN | Sell | First Northern Community Bancorp | $6,302,000 | +0.9% | 520,865 | -0.4% | 0.28% | -0.7% |
| FETM | Sell | Fentura Financial, Inc. | $6,210,000 | -1.0% | 336,590 | -2.0% | 0.28% | -2.5% |
| RVSB | Sell | Riverview Bancorp, Inc. | $6,019,000 | +21.4% | 716,574 | -4.0% | 0.27% | +19.5% |
| PSBQ | Buy | PSB Holdings, Inc. | $5,873,000 | +15.8% | 83,966 | +10.5% | 0.26% | +13.9% |
| NWYF | Buy | Northway Financial, Inc. | $5,842,000 | +8.8% | 200,084 | +3.2% | 0.26% | +7.4% |
| HIFS | Sell | Hingham Institution for Savings | $5,848,000 | -3.9% | 30,733 | -8.2% | 0.26% | -5.4% |
| SBNC | Buy | Southern BancShares (N.C.), Inc. | $5,857,000 | +18.3% | 2,466 | +4.7% | 0.26% | +16.4% |
| PFLC | Sell | Pacific Financial Corporation | $5,753,000 | +3.9% | 625,323 | -2.3% | 0.26% | +2.4% |
| BUSE | Buy | First Busey Corporation | $5,738,000 | +7.3% | 182,983 | +0.3% | 0.26% | +5.8% |
| RBB | New | RBB Bancorp | $5,723,000 | – | 250,000 | – | 0.26% | – |
| Sell | American Riviera Bank | $5,555,000 | -2.4% | 329,665 | -2.9% | 0.25% | -3.9% | |
| JMSB | Buy | John Marshall Bank | $5,380,000 | +4.3% | 292,375 | +17.9% | 0.24% | +2.6% |
| CSHX | Sell | Cashmere Valley Bank | $5,191,000 | -6.1% | 92,043 | -11.2% | 0.23% | -7.5% |
| WTBA | Sell | West Bancorporation, Inc. | $4,772,000 | -13.6% | 195,578 | -16.3% | 0.21% | -14.7% |
| MSBI | Sell | Midland States Bancorp, Inc. | $4,748,000 | -19.6% | 149,858 | -14.9% | 0.21% | -20.8% |
| TRCY | Sell | Tri City Bankshares Corporation | $4,674,000 | -0.3% | 225,243 | -6.8% | 0.21% | -1.9% |
| DCOM | New | Dime Community Bancshares, Inc. | $4,597,000 | – | 213,800 | – | 0.21% | – |
| FMNB | Sell | Farmers National Banc Corp. | $4,472,000 | +0.3% | 297,133 | -3.4% | 0.20% | -1.5% |
| WNRP | Buy | West Suburban Bancorp, Inc. | $4,387,000 | +2.7% | 7,311 | +1.9% | 0.20% | +1.5% |
| Sell | First Security, Inc. | $4,088,000 | +2.1% | 155,125 | -4.3% | 0.18% | +0.5% | |
| BHB | Buy | Bar Harbor Bankshares | $3,910,000 | +36.4% | 124,676 | +34.0% | 0.18% | +34.6% |
| PRCB | Buy | Premier Commercial Bancorp | $3,882,000 | +14.2% | 376,845 | +3.1% | 0.17% | +12.3% |
| FXNC | Buy | First National Corporation | $3,843,000 | +9.6% | 247,960 | +3.6% | 0.17% | +7.5% |
| NODB | Sell | North Dallas Bank & Trust Co. | $3,757,000 | +4.0% | 50,426 | -0.4% | 0.17% | +2.4% |
| BCML | Sell | BayCom Corp. | $3,675,000 | -31.7% | 204,172 | -33.7% | 0.16% | -32.7% |
| HBNC | Sell | Horizon Bancorp | $3,680,000 | -54.8% | 126,143 | -59.2% | 0.16% | -55.5% |
| CBWA | Sell | Commencement Bank | $3,607,000 | +6.2% | 244,560 | -2.8% | 0.16% | +4.5% |
| CFST | Sell | Communities First Financial Corporation | $3,568,000 | +5.9% | 202,745 | -9.7% | 0.16% | +4.6% |
| FBSS | Sell | Fauquier Bancshares, Inc. | $3,477,000 | +3.7% | 175,176 | -0.7% | 0.16% | +2.0% |
| Buy | First BancTrust Corporation | $3,410,000 | +0.6% | 165,550 | +0.9% | 0.15% | -0.6% | |
| CWBK | Sell | CommerceWest Bank | $3,385,000 | -13.4% | 152,472 | -20.8% | 0.15% | -14.6% |
| INBK | Buy | First Internet Bancorp | $3,359,000 | +130.2% | 104,000 | +100.0% | 0.15% | +128.8% |
| CARE | Sell | Carter Bank & Trust | $3,317,000 | -12.5% | 194,558 | -20.4% | 0.15% | -13.9% |
| HBMD | Buy | Howard Bancorp, Inc. | $3,264,000 | +24.5% | 156,187 | +14.7% | 0.15% | +22.7% |
| YRKB | Buy | York Traditions Bank | $3,269,000 | +36.6% | 188,391 | +40.1% | 0.15% | +33.9% |
| CART | Sell | Carolina Trust BancShares, Inc. | $3,212,000 | +9.0% | 392,616 | -0.3% | 0.14% | +7.5% |
| SCSG | Sell | SouthCrest Financial Group, Inc. | $3,224,000 | +7.3% | 344,769 | -1.9% | 0.14% | +5.1% |
| LFGP | Buy | Ledyard Financial Group, Inc. | $3,220,000 | +2.5% | 157,092 | +200.0% | 0.14% | +0.7% |
| FNBT | New | FineMark Holdings, Inc. | $3,125,000 | – | 125,000 | – | 0.14% | – |
| PPBN | Buy | Pinnacle Bankshares Corporation | $3,119,000 | -0.9% | 113,230 | +0.6% | 0.14% | -2.1% |
| MVLY | Sell | Mission Valley Bancorp | $3,059,000 | +0.9% | 216,320 | -1.2% | 0.14% | -0.7% |
| JRVR | New | James River Group Holdings, Ltd. | $3,037,000 | – | 73,210 | – | 0.14% | – |
| FFHD | Buy | FirstAtlantic Financial Holdings, Inc. | $3,016,000 | +61.6% | 165,688 | +17.7% | 0.14% | +58.8% |
| Buy | Embassy Bancorp, Inc. | $2,976,000 | +5.5% | 198,637 | +5.4% | 0.13% | +3.9% | |
| MSFG | Sell | MainSource Financial Group, Inc. | $2,939,000 | -55.8% | 81,947 | -58.7% | 0.13% | -56.4% |
| FCOB | Buy | 1st Colonial Bancorp | $2,924,000 | +7.7% | 259,684 | +5.3% | 0.13% | +6.5% |
| PBNK | Buy | Pinnacle Bank | $2,869,000 | +41.7% | 286,563 | +21.8% | 0.13% | +40.2% |
| MOFG | New | MidWestOne Financial Group, Inc. | $2,670,000 | – | 79,100 | – | 0.12% | – |
| CYFL | Buy | Century Financial Corporation | $2,673,000 | +0.2% | 133,646 | +6.5% | 0.12% | -0.8% |
| EFSI | Sell | Eagle Financial Services Inc. | $2,635,000 | -9.4% | 90,084 | -3.2% | 0.12% | -10.6% |
| CBCO | Buy | Coastal Banking Co., Inc. | $2,529,000 | +10.9% | 133,085 | +2.4% | 0.11% | +8.7% |
| CFBN | New | Community 1st Bancorp | $2,380,000 | – | 301,270 | – | 0.11% | – |
| PBCO | Sell | People's Bank of Commerce | $2,232,000 | -9.0% | 177,289 | -9.7% | 0.10% | -10.7% |
| Sell | Aquesta Financial Holdings, Inc. | $2,063,000 | -11.0% | 202,856 | -8.2% | 0.09% | -13.2% | |
| Sell | HomeTown Bankshares Corporation | $1,930,000 | -4.4% | 177,842 | -5.3% | 0.09% | -6.5% | |
| PBBI | Buy | PB Bancorp, Inc. | $1,877,000 | +20.4% | 178,801 | +21.0% | 0.08% | +18.3% |
| TCBK | Sell | TriCo Bancshares | $1,716,000 | -1.6% | 42,118 | -15.1% | 0.08% | -2.5% |
| LGHT | Buy | Lighthouse Bank | $1,539,000 | +7.1% | 75,995 | +1.9% | 0.07% | +6.2% |
| PCBC | Buy | Pacific Commerce Bancorp | $1,403,000 | +114.9% | 157,615 | +96.7% | 0.06% | +110.0% |
| IBTX | Sell | Independent Bank Group, Inc | $1,375,000 | -40.0% | 22,800 | -40.8% | 0.06% | -40.4% |
| QNTO | Sell | Quaint Oak Bancorp | $1,298,000 | -43.1% | 103,750 | -40.0% | 0.06% | -44.2% |
| UVSP | Sell | Univest Corporation of Pennsylvania | $1,262,000 | -34.6% | 39,452 | -38.8% | 0.06% | -35.2% |
| CCBC | New | Chino Commercial Bancorp | $1,063,000 | – | 67,485 | – | 0.05% | – |
| BFTL | New | Bank of Fincastle | $1,022,000 | – | 486,486 | – | 0.05% | – |
| WEBK | Buy | Wellesley Bancorp, Inc. | $834,000 | +8.0% | 30,879 | +10.8% | 0.04% | +5.7% |
| HFWA | Sell | Heritage Financial Corporation | $756,000 | -96.2% | 25,637 | -96.6% | 0.03% | -96.2% |
| DHIL | Sell | Diamond Hill Investment Group, Inc. | $691,000 | -34.1% | 3,255 | -38.1% | 0.03% | -35.4% |
| FRME | Sell | First Merchants Corp. | $690,000 | -92.4% | 16,082 | -92.9% | 0.03% | -92.5% |
| FPBK | New | First Priority Financial Corp. | $661,000 | – | 83,179 | – | 0.03% | – |
| MN | Sell | Manning & Napier, Inc. | $584,000 | -51.8% | 147,860 | -46.9% | 0.03% | -52.7% |
| CABF | New | Carolina Alliance Bank | $538,000 | – | 44,369 | – | 0.02% | – |
| New | HCBF Holding Company, Inc. | $498,000 | – | 34,972 | – | 0.02% | – | |
| FCIT | Buy | First Citrus Bancorporation, Inc. | $431,000 | +69.0% | 22,567 | +48.2% | 0.02% | +58.3% |
| PKBK | Sell | Parke Bancorp, Inc. | $304,000 | -63.6% | 13,700 | -63.3% | 0.01% | -63.2% |
| CFIC | Exit | Cornerstone Financial | $0 | – | -6,259 | – | -0.00% | – |
| EBSB | Exit | Meridian Interstate Bancorp | $0 | – | -10,001 | – | -0.01% | – |
| GLBZ | Exit | Glen Burnie Bancorp | $0 | – | -36,449 | – | -0.02% | – |
| CRLN | Exit | Carolina Alliance Bank | $0 | – | -42,257 | – | -0.02% | – |
| DLMV | Exit | Delmarva Bancshares, Inc. | $0 | – | -173,459 | – | -0.05% | – |
| BHWB | Exit | Blackhawk Bancorp, Inc. | $0 | – | -44,536 | – | -0.05% | – |
| CENP | Exit | Centerpointe Community Bank | $0 | – | -85,550 | – | -0.05% | – |
| MSL | Exit | Midsouth Bancorp, Inc. | $0 | – | -130,393 | – | -0.07% | – |
| PCBK | Exit | Pacific Continental Corporation | $0 | – | -74,300 | – | -0.09% | – |
| SSB | Exit | South State Corporation | $0 | – | -25,649 | – | -0.10% | – |
| HCFB | Exit | HCSB Financial Corporation | $0 | – | -22,238,470 | – | -0.13% | – |
| CBF | Exit | Capital Bank Financial Corp. | $0 | – | -97,171 | – | -0.17% | – |
| CABC | Exit | California BanCorp | $0 | – | -325,501 | – | -0.28% | – |
| IALB | Exit | Independent Alliance Banks, Inc. | $0 | – | -93,786 | – | -0.28% | – |
| FCFP | Exit | First Community Financial Partners, Inc. | $0 | – | -497,801 | – | -0.29% | – |
| AMH | Exit | American Homes 4 Rent | $0 | – | -777,800 | – | -0.80% | – |
| SGBK | Exit | Stonegate Bank | $0 | – | -408,604 | – | -0.86% | – |
Q2 2017
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| EFSC | New | Enterprise Financial Services Corp | $50,032,000 | – | 1,226,274 | – | 2.28% | – |
| STBZ | New | State Bank Financial Corporation | $50,028,000 | – | 1,844,691 | – | 2.28% | – |
| TSC | New | TriState Capital Holdings, Inc. | $46,186,000 | – | 1,832,796 | – | 2.10% | – |
| PGC | New | Peapack-Gladstone Financial Corporation | $45,946,000 | – | 1,468,387 | – | 2.09% | – |
| MBWM | New | Mercantile Bank Corporation | $44,297,000 | – | 1,407,132 | – | 2.02% | – |
| SASR | New | Sandy Spring Bancorp Inc. | $35,062,000 | – | 862,316 | – | 1.60% | – |
| CSFL | New | CenterState Banks, Inc. | $33,659,000 | – | 1,353,929 | – | 1.53% | – |
| LION | New | Fidelity Southern Corporation | $32,426,000 | – | 1,418,478 | – | 1.48% | – |
| PSTB | New | Park Sterling Corp. | $30,867,000 | – | 2,598,233 | – | 1.40% | – |
| LBAI | New | Lakeland Bancorp, Inc. | $28,515,000 | – | 1,512,747 | – | 1.30% | – |
| OSBC | New | Old Second Bancorp, Inc. | $28,414,000 | – | 2,460,082 | – | 1.29% | – |
| COBZ | New | CoBiz Financial Inc. | $28,117,000 | – | 1,615,933 | – | 1.28% | – |
| FMBI | New | First Midwest Bancorp, Inc. | $27,121,000 | – | 1,163,507 | – | 1.23% | – |
| NBHC | New | National Bank Holdings Corporation | $27,038,000 | – | 816,620 | – | 1.23% | – |
| BPFH | New | Boston Private Financial Holdings, Inc. | $26,558,000 | – | 1,730,163 | – | 1.21% | – |
| BLMT | New | BSB Bancorp, Inc. | $26,321,000 | – | 899,860 | – | 1.20% | – |
| SONA | New | Southern National Bancorp of Virginia,Inc. | $26,061,000 | – | 1,480,747 | – | 1.19% | – |
| SFST | New | Southern First Bancshares, Inc. | $23,064,000 | – | 622,521 | – | 1.05% | – |
| QCRH | New | QCR Holdings, Inc. | $22,995,000 | – | 485,128 | – | 1.05% | – |
| FRBK | New | Republic First Bancorp, Inc. | $22,848,000 | – | 2,470,059 | – | 1.04% | – |
| CVLY | New | Codorus Valley Bancorp, Inc. | $21,568,000 | – | 759,429 | – | 0.98% | – |
| SBCF | New | Seacoast Banking Corporation of Florida | $21,212,000 | – | 880,169 | – | 0.96% | – |
| NCBS | New | Nicolet Bankshares, Inc. | $20,366,000 | – | 372,262 | – | 0.93% | – |
| PBNC | New | Paragon Commercial Corporation | $19,990,000 | – | 380,977 | – | 0.91% | – |
| CVCY | New | Central Valley Community Bancorp | $19,920,000 | – | 898,927 | – | 0.91% | – |
| HFWA | New | Heritage Financial Corporation | $19,860,000 | – | 749,423 | – | 0.90% | – |
| FBMS | New | First Bancshares, Inc. | $19,564,000 | – | 708,843 | – | 0.89% | – |
| OKSB | New | Southwest Bancorp, Inc. | $19,012,000 | – | 744,106 | – | 0.86% | – |
| HTBK | New | Heritage Commerce Corp | $18,930,000 | – | 1,373,708 | – | 0.86% | – |
| SGBK | New | Stonegate Bank | $18,869,000 | – | 408,604 | – | 0.86% | – |
| FBNC | New | First Bancorp | $18,523,000 | – | 592,556 | – | 0.84% | – |
| WTBFB | New | W.T.B. Financial Corporation | $18,213,000 | – | 63,904 | – | 0.83% | – |
| FBIZ | New | First Business Financial Services | $18,145,000 | – | 786,198 | – | 0.83% | – |
| CNOB | New | ConnectOne Bancorp, Inc. | $17,683,000 | – | 784,153 | – | 0.80% | – |
| WSBF | New | Waterstone Financial, Inc. | $17,696,000 | – | 938,769 | – | 0.80% | – |
| PEBO | New | Peoples Bancorp Inc. | $17,571,000 | – | 546,882 | – | 0.80% | – |
| AMH | New | American Homes 4 Rent | $17,555,000 | – | 777,800 | – | 0.80% | – |
| ABTX | New | Allegiance Bancshares, Inc. | $17,436,000 | – | 455,253 | – | 0.79% | – |
| CATC | New | Cambridge Bancorp | $17,185,000 | – | 255,544 | – | 0.78% | – |
| IBKC | New | Iberiabank Corp | $17,077,000 | – | 209,534 | – | 0.78% | – |
| UBSH | New | Union Bankshares Corporation | $17,030,000 | – | 502,351 | – | 0.78% | – |
| UNTY | New | Unity Bancorp, Inc. | $16,797,000 | – | 976,562 | – | 0.76% | – |
| EGBN | New | Eagle Bancorp, Inc. | $16,109,000 | – | 254,490 | – | 0.73% | – |
| MBFI | New | MB Financial, Inc. | $15,994,000 | – | 363,159 | – | 0.73% | – |
| FRBA | New | First Bank | $15,899,000 | – | 1,364,734 | – | 0.72% | – |
| VBTX | New | Veritex Holdings, Inc. | $15,704,000 | – | 596,442 | – | 0.72% | – |
| CUNB | New | CU Bancorp | $15,518,000 | – | 429,258 | – | 0.71% | – |
| NCOM | New | National Commerce Corporation | $15,241,000 | – | 385,351 | – | 0.69% | – |
| EQBK | New | Equity Bancshares, Inc. | $14,338,000 | – | 467,943 | – | 0.65% | – |
| OLBK | New | Old Line Bancshares, Inc. | $13,932,000 | – | 494,377 | – | 0.63% | – |
| MLVF | New | Malvern Bancorp, Inc. | $13,627,000 | – | 568,994 | – | 0.62% | – |
| ISTR | New | Investar Holding Corporation | $13,614,000 | – | 594,513 | – | 0.62% | – |
| FFWM | New | First Foundation Inc. | $13,381,000 | – | 814,398 | – | 0.61% | – |
| CCNE | New | CNB Financial Corporation | $13,090,000 | – | 546,087 | – | 0.60% | – |
| BWFG | New | Bankwell Financial Group, Inc. | $12,870,000 | – | 412,094 | – | 0.59% | – |
| SBBX | New | Sussex Bancorp | $12,778,000 | – | 524,767 | – | 0.58% | – |
| New | First Choice Bank | $12,377,000 | – | 545,254 | – | 0.56% | – | |
| SHBI | New | Shore Bancshares, Inc. | $11,819,000 | – | 718,456 | – | 0.54% | – |
| BOCH | New | Bank of Commerce Holdings | $11,794,000 | – | 1,067,326 | – | 0.54% | – |
| FCCY | New | 1st Constitution Bancorp | $11,064,000 | – | 626,844 | – | 0.50% | – |
| FLIC | New | First of Long Island Corp. | $11,020,000 | – | 385,315 | – | 0.50% | – |
| FNBG | New | FNB Bancorp | $10,955,000 | – | 398,950 | – | 0.50% | – |
| EBTC | New | Enterprise Bancorp, Inc. | $10,951,000 | – | 308,137 | – | 0.50% | – |
| BSRR | New | Sierra Bancorp | $10,932,000 | – | 445,312 | – | 0.50% | – |
| ESXB | New | Community Bankers Trust Corporation | $10,797,000 | – | 1,308,705 | – | 0.49% | – |
| AMBZ | New | American Business Bank | $10,233,000 | – | 243,642 | – | 0.47% | – |
| SAMG | New | Silvercrest Asset Management Group Inc. | $10,185,000 | – | 757,259 | – | 0.46% | – |
| XBKS | New | Xenith Bankshares, Inc. | $10,175,000 | – | 327,606 | – | 0.46% | – |
| SF | New | Stifel Financial Corp. | $10,074,000 | – | 219,096 | – | 0.46% | – |
| CARO | New | Carolina Financial Corporation | $10,041,000 | – | 310,661 | – | 0.46% | – |
| TCFC | New | Community Financial Corporation | $10,054,000 | – | 261,132 | – | 0.46% | – |
| SMBK | New | SmartFinancial, Inc. | $9,513,000 | – | 398,367 | – | 0.43% | – |
| FRME | New | First Merchants Corp. | $9,139,000 | – | 227,681 | – | 0.42% | – |
| GNBC | New | Green Bancorp, Inc. | $9,079,000 | – | 468,011 | – | 0.41% | – |
| UBNK | New | United Financial Bancorp, Inc. | $8,931,000 | – | 535,086 | – | 0.41% | – |
| BY | New | Byline Bancorp, Inc. | $8,622,000 | – | 430,000 | – | 0.39% | – |
| QNBC | New | QNB Corp. | $8,590,000 | – | 212,984 | – | 0.39% | – |
| AVBH | New | Avidbank Holdings, Inc. | $8,434,000 | – | 427,043 | – | 0.38% | – |
| DNBF | New | DNB Financial Corporation | $8,430,000 | – | 245,767 | – | 0.38% | – |
| ACBI | New | Atlantic Capital Bancshares, Inc. | $8,286,000 | – | 436,082 | – | 0.38% | – |
| WBBW | New | Westbury Bancorp, Inc. | $8,262,000 | – | 396,242 | – | 0.38% | – |
| PBAM | New | Private Bancorp of America, Inc. | $8,213,000 | – | 356,324 | – | 0.37% | – |
| HBNC | New | Horizon Bancorp | $8,150,000 | – | 309,284 | – | 0.37% | – |
| UCBI | New | United Community Banks, Inc. | $8,139,000 | – | 292,768 | – | 0.37% | – |
| FGFH | New | Foresight Financial Group, Inc. | $7,976,000 | – | 264,538 | – | 0.36% | – |
| WFBI | New | WashingtonFirst Bankshares, Inc. | $7,865,000 | – | 227,760 | – | 0.36% | – |
| MBTF | New | MBT Financial Corp. | $7,801,000 | – | 804,233 | – | 0.36% | – |
| LTXB | New | LegacyTexas Financial Group, Inc. | $7,781,000 | – | 204,072 | – | 0.35% | – |
| VABK | New | Virginia National Bankshares Corp. | $7,678,000 | – | 209,209 | – | 0.35% | – |
| CHFN | New | Charter Financial Corporation | $7,627,000 | – | 423,695 | – | 0.35% | – |
| FBK | New | FB Financial Corp. | $7,595,000 | – | 209,868 | – | 0.35% | – |
| BMTC | New | Bryn Mawr Bank Corporation | $7,606,000 | – | 178,971 | – | 0.35% | – |
| MCBC | New | Macatawa Bank Corporation | $7,520,000 | – | 788,293 | – | 0.34% | – |
| STND | New | Standard AVB Financial Corp. | $7,505,000 | – | 265,650 | – | 0.34% | – |
| TBK | New | Triumph Bancorp, Inc. | $7,323,000 | – | 298,300 | – | 0.33% | – |
| NWIN | New | NorthWest Indiana Bancorp | $7,236,000 | – | 178,668 | – | 0.33% | – |
| BFC | New | Bank First National Corporation | $7,208,000 | – | 198,844 | – | 0.33% | – |
| NBCT | New | Northwest Bancorporation, Inc. | $7,179,000 | – | 598,281 | – | 0.33% | – |
| FCCO | New | First Community Corporation | $6,895,000 | – | 328,319 | – | 0.31% | – |
| MSFG | New | MainSource Financial Group, Inc. | $6,654,000 | – | 198,564 | – | 0.30% | – |
| SFBS | New | ServisFirst Bancshares, Inc. | $6,637,000 | – | 179,900 | – | 0.30% | – |
| FVCB | New | First Virginia Community Bank | $6,584,000 | – | 334,200 | – | 0.30% | – |
| OVLY | New | Oak Valley Bancorp | $6,568,000 | – | 472,489 | – | 0.30% | – |
| BMRC | New | Bank of Marin Bancorp | $6,561,000 | – | 106,593 | – | 0.30% | – |
| BFIN | New | BankFinancial Corporation | $6,575,000 | – | 440,707 | – | 0.30% | – |
| FCB | New | FCB Financial Holdings, Inc. | $6,536,000 | – | 136,871 | – | 0.30% | – |
| MNSB | New | MainStreet Bancshares, Inc. | $6,457,000 | – | 402,300 | – | 0.29% | – |
| FCFP | New | First Community Financial Partners, Inc. | $6,422,000 | – | 497,801 | – | 0.29% | – |
| OCBI | New | Orange County Bancorp | $6,367,000 | – | 137,228 | – | 0.29% | – |
| MVBF | New | MVB Financial Corp. | $6,313,000 | – | 478,261 | – | 0.29% | – |
| FETM | New | Fentura Financial, Inc. | $6,271,000 | – | 343,590 | – | 0.28% | – |
| FNRN | New | First Northern Community Bancorp | $6,248,000 | – | 522,865 | – | 0.28% | – |
| IALB | New | Independent Alliance Banks, Inc. | $6,213,000 | – | 93,786 | – | 0.28% | – |
| CABC | New | California BanCorp | $6,185,000 | – | 325,501 | – | 0.28% | – |
| HIFS | New | Hingham Institution for Savings | $6,088,000 | – | 33,463 | – | 0.28% | – |
| FSB | New | Franklin Financial Network, Inc. | $6,084,000 | – | 147,500 | – | 0.28% | – |
| HTH | New | Hilltop Holdings Inc. | $5,964,000 | – | 227,532 | – | 0.27% | – |
| AHL | New | Aspen Insurance Holdings Limited | $5,933,000 | – | 119,012 | – | 0.27% | – |
| MSBI | New | Midland States Bancorp, Inc. | $5,903,000 | – | 176,095 | – | 0.27% | – |
| BANC | New | Banc of California, Inc. | $5,895,000 | – | 274,204 | – | 0.27% | – |
| CSTR | New | CapStar Financial Holdings, Inc. | $5,735,000 | – | 323,300 | – | 0.26% | – |
| AMRB | New | American River Bankshares | $5,694,000 | – | 392,419 | – | 0.26% | – |
| New | American Riviera Bank | $5,689,000 | – | 339,665 | – | 0.26% | – | |
| FISI | New | Financial Institutions, Inc. | $5,610,000 | – | 188,261 | – | 0.26% | – |
| PFLC | New | Pacific Financial Corporation | $5,539,000 | – | 640,323 | – | 0.25% | – |
| CSHX | New | Cashmere Valley Bank | $5,530,000 | – | 103,653 | – | 0.25% | – |
| WTBA | New | West Bancorporation, Inc. | $5,524,000 | – | 233,578 | – | 0.25% | – |
| BCML | New | BayCom Corp. | $5,378,000 | – | 308,172 | – | 0.24% | – |
| FBC | New | Flagstar Bancorp, Inc. | $5,360,000 | – | 173,900 | – | 0.24% | – |
| NWYF | New | Northway Financial, Inc. | $5,371,000 | – | 193,906 | – | 0.24% | – |
| BUSE | New | First Busey Corporation | $5,350,000 | – | 182,457 | – | 0.24% | – |
| JMSB | New | John Marshall Bank | $5,158,000 | – | 248,000 | – | 0.24% | – |
| MFGI | New | Merchants Financial Group, Inc. | $5,135,000 | – | 83,360 | – | 0.23% | – |
| ICBK | New | County Bancorp, Inc. | $5,096,000 | – | 212,335 | – | 0.23% | – |
| PSBQ | New | PSB Holdings, Inc. | $5,073,000 | – | 75,997 | – | 0.23% | – |
| RVSB | New | Riverview Bancorp, Inc. | $4,957,000 | – | 746,574 | – | 0.23% | – |
| GBNK | New | Guaranty Bancorp | $4,945,000 | – | 181,802 | – | 0.22% | – |
| SBNC | New | Southern BancShares (N.C.), Inc. | $4,950,000 | – | 2,355 | – | 0.22% | – |
| CNBKA | New | Century Bancorp, Inc. | $4,891,000 | – | 76,904 | – | 0.22% | – |
| BRKL | New | Brookline-MA | $4,745,000 | – | 325,000 | – | 0.22% | – |
| TRCY | New | Tri City Bankshares Corporation | $4,687,000 | – | 241,618 | – | 0.21% | – |
| BDGE | New | Bridge Bancorp Inc. | $4,594,000 | – | 137,965 | – | 0.21% | – |
| SBCP | New | Sunshine Bancorp, Inc. | $4,552,000 | – | 213,600 | – | 0.21% | – |
| FDEF | New | First Defiance Financial Corp. | $4,523,000 | – | 85,850 | – | 0.21% | – |
| FMNB | New | Farmers National Banc Corp. | $4,458,000 | – | 307,433 | – | 0.20% | – |
| CMTB | New | Community Bank of Bergen County, NJ | $4,369,000 | – | 189,967 | – | 0.20% | – |
| FISB | New | 1st Capital Bank | $4,315,000 | – | 319,598 | – | 0.20% | – |
| MBCN | New | Middlefield Banc Corp. | $4,284,000 | – | 84,991 | – | 0.20% | – |
| WNRP | New | West Suburban Bancorp, Inc. | $4,270,000 | – | 7,174 | – | 0.19% | – |
| TRCB | New | Two River Bancorp | $4,155,000 | – | 223,495 | – | 0.19% | – |
| BCBP | New | BCB Bancorp, Inc. | $4,131,000 | – | 270,000 | – | 0.19% | – |
| UIHC | New | United Insurance Holdings Corp. | $4,113,000 | – | 261,459 | – | 0.19% | – |
| New | Bank of Southern California, N. A. | $4,112,000 | – | 320,000 | – | 0.19% | – | |
| New | First Security, Inc. | $4,005,000 | – | 162,125 | – | 0.18% | – | |
| GNTY | New | Guaranty Bancshares, Inc. | $3,994,000 | – | 125,000 | – | 0.18% | – |
| NECB | New | Northeast Community Bancorp, Inc. | $4,009,000 | – | 475,600 | – | 0.18% | – |
| BOTJ | New | Bank of the James Financial Group, Inc. | $3,982,000 | – | 266,172 | – | 0.18% | – |
| AUBN | New | Auburn National Bancorporation, Inc. | $3,962,000 | – | 107,253 | – | 0.18% | – |
| CWBK | New | CommerceWest Bank | $3,907,000 | – | 192,472 | – | 0.18% | – |
| PGNN | New | Paragon Financial Solutions, Inc. | $3,816,000 | – | 399,532 | – | 0.17% | – |
| CARE | New | Carter Bank & Trust | $3,791,000 | – | 244,558 | – | 0.17% | – |
| CBF | New | Capital Bank Financial Corp. | $3,702,000 | – | 97,171 | – | 0.17% | – |
| KINS | New | Kingstone Companies, Inc. | $3,680,000 | – | 240,500 | – | 0.17% | – |
| NODB | New | North Dallas Bank & Trust Co. | $3,612,000 | – | 50,626 | – | 0.16% | – |
| FXNC | New | First National Corporation | $3,507,000 | – | 239,418 | – | 0.16% | – |
| New | Suncrest Bank | $3,485,000 | – | 348,503 | – | 0.16% | – | |
| LSBK | New | Lake Shore Bancorp | $3,463,000 | – | 219,879 | – | 0.16% | – |
| PUGB | New | Puget Sound Bank | $3,427,000 | – | 140,458 | – | 0.16% | – |
| CBWA | New | Commencement Bank | $3,396,000 | – | 251,560 | – | 0.16% | – |
| PRCB | New | Premier Commercial Bancorp | $3,400,000 | – | 365,576 | – | 0.16% | – |
| New | First BancTrust Corporation | $3,389,000 | – | 164,135 | – | 0.15% | – | |
| FBSS | New | Fauquier Bancshares, Inc. | $3,353,000 | – | 176,476 | – | 0.15% | – |
| CFST | New | Communities First Financial Corporation | $3,369,000 | – | 224,567 | – | 0.15% | – |
| KTYB | New | Kentucky Bancshares, Inc. | $3,311,000 | – | 84,029 | – | 0.15% | – |
| EMCF | New | Emclaire Financial Corp. | $3,268,000 | – | 117,207 | – | 0.15% | – |
| MFNC | New | Mackinac Financial Corporation | $3,166,000 | – | 226,307 | – | 0.14% | – |
| PPBN | New | Pinnacle Bankshares Corporation | $3,147,000 | – | 112,580 | – | 0.14% | – |
| LFGP | New | Ledyard Financial Group, Inc. | $3,142,000 | – | 52,364 | – | 0.14% | – |
| CZFS | New | Citizens Financial Services | $3,150,000 | – | 58,350 | – | 0.14% | – |
| MVLY | New | Mission Valley Bancorp | $3,032,000 | – | 218,908 | – | 0.14% | – |
| SCSG | New | SouthCrest Financial Group, Inc. | $3,004,000 | – | 351,336 | – | 0.14% | – |
| CART | New | Carolina Trust BancShares, Inc. | $2,947,000 | – | 393,964 | – | 0.13% | – |
| CUBN | New | Commerce Union Bancshares, Inc. | $2,913,000 | – | 122,020 | – | 0.13% | – |
| HCFB | New | HCSB Financial Corporation | $2,891,000 | – | 22,238,470 | – | 0.13% | – |
| EFSI | New | Eagle Financial Services Inc. | $2,909,000 | – | 93,084 | – | 0.13% | – |
| REVB | New | Revere Bank | $2,850,000 | – | 100,000 | – | 0.13% | – |
| BHB | New | Bar Harbor Bankshares | $2,867,000 | – | 93,021 | – | 0.13% | – |
| New | Embassy Bancorp, Inc. | $2,821,000 | – | 188,437 | – | 0.13% | – | |
| FGBI | New | First Guaranty Bancshares, Inc. | $2,813,000 | – | 103,264 | – | 0.13% | – |
| FCOB | New | 1st Colonial Bancorp | $2,714,000 | – | 246,693 | – | 0.12% | – |
| HFBL | New | Home Federal Bancorp, Inc. of Louisiana | $2,656,000 | – | 98,556 | – | 0.12% | – |
| CYFL | New | Century Financial Corporation | $2,667,000 | – | 125,515 | – | 0.12% | – |
| BKOR | New | Oak Ridge Financial Services, Inc. | $2,621,000 | – | 199,352 | – | 0.12% | – |
| HBMD | New | Howard Bancorp, Inc. | $2,622,000 | – | 136,187 | – | 0.12% | – |
| WASH | New | Washington Trust Bancorp, Inc. | $2,607,000 | – | 50,575 | – | 0.12% | – |
| CBKM | New | Consumers Bancorp, Inc. | $2,599,000 | – | 136,792 | – | 0.12% | – |
| SBTB | New | SBT Bancorp, Inc. | $2,597,000 | – | 104,718 | – | 0.12% | – |
| CBTC | New | CBT Financial Corporation | $2,560,000 | – | 69,000 | – | 0.12% | – |
| BSCA | New | Bank of Santa Clarita | $2,559,000 | – | 159,930 | – | 0.12% | – |
| New | Two Rivers Financial Group, Inc. | $2,525,000 | – | 93,708 | – | 0.12% | – | |
| NGHC | New | National General Holdings Corporation | $2,532,000 | – | 120,000 | – | 0.12% | – |
| TCBI | New | Texas Capital Bancshares, Inc. | $2,472,000 | – | 31,936 | – | 0.11% | – |
| PBCO | New | People's Bank of Commerce | $2,453,000 | – | 196,230 | – | 0.11% | – |
| SOMC | New | Southern Michigan Bancorp Inc. | $2,395,000 | – | 69,430 | – | 0.11% | – |
| YRKB | New | York Traditions Bank | $2,393,000 | – | 134,465 | – | 0.11% | – |
| New | Aquesta Financial Holdings, Inc. | $2,319,000 | – | 220,856 | – | 0.11% | – | |
| QNTO | New | Quaint Oak Bancorp | $2,280,000 | – | 173,000 | – | 0.10% | – |
| IBTX | New | Independent Bank Group, Inc | $2,291,000 | – | 38,500 | – | 0.10% | – |
| CBCO | New | Coastal Banking Co., Inc. | $2,281,000 | – | 129,985 | – | 0.10% | – |
| SSB | New | South State Corporation | $2,198,000 | – | 25,649 | – | 0.10% | – |
| FNHC | New | Federated National Holding Company | $2,208,000 | – | 138,000 | – | 0.10% | – |
| ESSA | New | ESSA Bancorp, Inc. | $2,035,000 | – | 138,218 | – | 0.09% | – |
| New | HomeTown Bankshares Corporation | $2,019,000 | – | 187,842 | – | 0.09% | – | |
| PBNK | New | Pinnacle Bank | $2,024,000 | – | 235,317 | – | 0.09% | – |
| SABK | New | South Atlantic Bancshares, Inc. | $1,998,000 | – | 124,898 | – | 0.09% | – |
| UVSP | New | Univest Corporation of Pennsylvania | $1,930,000 | – | 64,452 | – | 0.09% | – |
| New | Citizens Bancorp | $1,921,000 | – | 130,712 | – | 0.09% | – | |
| PCBK | New | Pacific Continental Corporation | $1,898,000 | – | 74,300 | – | 0.09% | – |
| CYSM | New | Community Bancorp of Santa Maria | $1,869,000 | – | 173,824 | – | 0.08% | – |
| FFHD | New | FirstAtlantic Financial Holdings, Inc. | $1,866,000 | – | 140,788 | – | 0.08% | – |
| SSBI | New | Summit State Bank | $1,867,000 | – | 143,607 | – | 0.08% | – |
| FCNH | New | First Colebrook Bancorp, Inc. | $1,841,000 | – | 81,627 | – | 0.08% | – |
| PDOB | New | Presidio Bank | $1,838,000 | – | 103,544 | – | 0.08% | – |
| CCNB | New | Coastal Carolina Bancshares, Inc. | $1,836,000 | – | 262,238 | – | 0.08% | – |
| GRRB | New | GrandSouth Bancorporation | $1,814,000 | – | 125,000 | – | 0.08% | – |
| CYHT | New | Community Bank | $1,835,000 | – | 11,050 | – | 0.08% | – |
| SOME | New | Somerset Trust Holding Company | $1,790,000 | – | 42,874 | – | 0.08% | – |
| TCBK | New | TriCo Bancshares | $1,744,000 | – | 49,618 | – | 0.08% | – |
| New | Sevier County Bancshares, Inc. | $1,650,000 | – | 110,000 | – | 0.08% | – | |
| IROQ | New | IF Bancorp, Inc. | $1,639,000 | – | 84,072 | – | 0.08% | – |
| FSBS | New | First South Bancorp, Inc. | $1,597,000 | – | 1,597,246 | – | 0.07% | – |
| OJCB | New | OCB Bancorp | $1,600,000 | – | 124,963 | – | 0.07% | – |
| AMFC | New | AMB Financial Corp. | $1,594,000 | – | 93,750 | – | 0.07% | – |
| CBFV | New | CB Financial Services, Inc. | $1,571,000 | – | 60,536 | – | 0.07% | – |
| BNNP | New | Bank of Napa, N.A. | $1,563,000 | – | 117,069 | – | 0.07% | – |
| PBBI | New | PB Bancorp, Inc. | $1,559,000 | – | 147,801 | – | 0.07% | – |
| MSL | New | Midsouth Bancorp, Inc. | $1,532,000 | – | 130,393 | – | 0.07% | – |
| INBK | New | First Internet Bancorp | $1,459,000 | – | 52,000 | – | 0.07% | – |
| LGHT | New | Lighthouse Bank | $1,437,000 | – | 74,595 | – | 0.06% | – |
| New | First Home Bancorp, Inc. | $1,418,000 | – | 37,800 | – | 0.06% | – | |
| RCBC | New | River City Bank | $1,244,000 | – | 7,827 | – | 0.06% | – |
| MN | New | Manning & Napier, Inc. | $1,212,000 | – | 278,603 | – | 0.06% | – |
| New | Professional Holding Corp. | $1,215,000 | – | 90,000 | – | 0.06% | – | |
| CENP | New | Centerpointe Community Bank | $1,134,000 | – | 85,550 | – | 0.05% | – |
| SAL | New | Salisbury Bancorp, Inc. | $1,076,000 | – | 26,216 | – | 0.05% | – |
| ANCX | New | Access National Corporation | $1,080,000 | – | 40,740 | – | 0.05% | – |
| BHWB | New | Blackhawk Bancorp, Inc. | $1,080,000 | – | 44,536 | – | 0.05% | – |
| DHIL | New | Diamond Hill Investment Group, Inc. | $1,048,000 | – | 5,255 | – | 0.05% | – |
| DLMV | New | Delmarva Bancshares, Inc. | $1,032,000 | – | 173,459 | – | 0.05% | – |
| TWCF | New | Town and Country Financial Corporation | $965,000 | – | 45,313 | – | 0.04% | – |
| VBFC | New | Village Bank and Trust Financial Corp. | $924,000 | – | 29,133 | – | 0.04% | – |
| SRYB | New | Surrey Bancorp | $851,000 | – | 69,785 | – | 0.04% | – |
| AJSB | New | AJS Bancorp, Inc. | $833,000 | – | 56,668 | – | 0.04% | – |
| PKBK | New | Parke Bancorp, Inc. | $836,000 | – | 37,300 | – | 0.04% | – |
| SCZC | New | Santa Cruz County Bank | $767,000 | – | 18,378 | – | 0.04% | – |
| BAOB | New | Baraboo Bancorporation, Inc. | $778,000 | – | 177,642 | – | 0.04% | – |
| WEBK | New | Wellesley Bancorp, Inc. | $772,000 | – | 27,879 | – | 0.04% | – |
| ESQ | New | Esquire Bank, National Association | $750,000 | – | 50,000 | – | 0.03% | – |
| SOBS | New | Solvay Bank Corporation | $671,000 | – | 16,899 | – | 0.03% | – |
| PCBC | New | Pacific Commerce Bancorp | $653,000 | – | 80,150 | – | 0.03% | – |
| EMPK | New | Empire Bancorp Inc. | $622,000 | – | 45,188 | – | 0.03% | – |
| CRLN | New | Carolina Alliance Bank | $524,000 | – | 42,257 | – | 0.02% | – |
| GLBZ | New | Glen Burnie Bancorp | $383,000 | – | 36,449 | – | 0.02% | – |
| SBAZ | New | State Bank Corp. | $282,000 | – | 34,400 | – | 0.01% | – |
| FCIT | New | First Citrus Bancorporation, Inc. | $255,000 | – | 15,225 | – | 0.01% | – |
| EBSB | New | Meridian Interstate Bancorp | $169,000 | – | 10,001 | – | 0.01% | – |
| CFIC | New | Cornerstone Financial | $63,000 | – | 6,259 | – | 0.00% | – |
Q4 2016
Q3 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| EFSC | Sell | Enterprise Financial Services Corp | $47,001,000 | +5.8% | 1,504,028 | -5.6% | 2.60% | +0.2% |
| STBZ | Buy | State Bank Financial Corporation | $40,484,000 | +13.7% | 1,774,045 | +1.4% | 2.24% | +7.7% |
| MBWM | Sell | Mercantile Bank Corporation | $39,352,000 | +8.3% | 1,465,635 | -3.8% | 2.17% | +2.5% |
| SASR | Sell | Sandy Spring Bancorp Inc. | $33,824,000 | +3.3% | 1,106,067 | -1.8% | 1.87% | -2.1% |
| PGC | Buy | Peapack-Gladstone Financial Corporation | $31,683,000 | +26.4% | 1,413,787 | +4.4% | 1.75% | +19.7% |
| CSFL | Sell | CenterState Banks, Inc. | $27,594,000 | -4.7% | 1,556,329 | -15.3% | 1.52% | -9.7% |
| CUNB | Sell | CU Bancorp | $26,230,000 | -3.5% | 1,149,947 | -3.8% | 1.45% | -8.6% |
| PSTB | Buy | Park Sterling Corp. | $25,010,000 | +16.2% | 3,079,994 | +1.4% | 1.38% | +10.0% |
| PCBK | Sell | Pacific Continental Corporation | $24,677,000 | +2.4% | 1,467,129 | -4.4% | 1.36% | -3.0% |
| COBZ | Sell | CoBiz Financial Inc. | $24,020,000 | +4.8% | 1,804,666 | -7.8% | 1.33% | -0.7% |
| BPFH | Sell | Boston Private Financial Holdings, Inc. | $22,775,000 | +7.4% | 1,775,163 | -1.4% | 1.26% | +1.7% |
| OKSB | Sell | Southwest Bancorp, Inc. | $21,429,000 | +10.8% | 1,128,428 | -1.2% | 1.18% | +5.1% |
| OSBC | Buy | Old Second Bancorp, Inc. | $21,322,000 | +24.2% | 2,565,882 | +2.1% | 1.18% | +17.7% |
| CBF | Buy | Capital Bank Financial Corp. | $21,007,000 | +20.5% | 654,224 | +8.0% | 1.16% | +14.1% |
| FRME | Sell | First Merchants Corp. | $20,579,000 | +5.4% | 769,326 | -1.8% | 1.14% | -0.2% |
| SGBK | Buy | Stonegate Bank | $19,654,000 | +26.0% | 582,346 | +20.4% | 1.09% | +19.3% |
| BLMT | Buy | BSB Bancorp, Inc. | $17,435,000 | +8.1% | 744,124 | +4.5% | 0.96% | +2.3% |
| HFWA | Sell | Heritage Financial Corporation | $17,317,000 | +0.6% | 964,731 | -1.4% | 0.96% | -4.7% |
| QCRH | Sell | QCR Holdings, Inc. | $16,969,000 | +7.3% | 534,628 | -8.1% | 0.94% | +1.5% |
| FBIZ | Buy | First Business Financial Services | $16,115,000 | +3.9% | 685,728 | +3.8% | 0.89% | -1.5% |
| WSBF | Buy | Waterstone Financial, Inc. | $16,035,000 | +13.9% | 943,769 | +2.7% | 0.89% | +7.9% |
| CVLY | Sell | Codorus Valley Bancorp, Inc. | $15,834,000 | +5.3% | 723,686 | -2.0% | 0.88% | -0.2% |
| HTBK | Sell | Heritage Commerce Corp | $15,712,000 | -11.0% | 1,436,157 | -14.4% | 0.87% | -15.7% |
| SFST | Sell | Southern First Bancshares, Inc. | $15,324,000 | +9.4% | 555,627 | -4.4% | 0.85% | +3.5% |
| NBHC | Sell | National Bank Holdings Corporation | $14,757,000 | +13.3% | 631,460 | -1.3% | 0.82% | +7.2% |
| HEOP | Sell | Heritage Oaks Bancorp | $14,705,000 | -10.5% | 1,793,348 | -13.3% | 0.81% | -15.2% |
| CVCY | Sell | Central Valley Community Bancorp | $14,003,000 | +9.2% | 882,895 | -3.6% | 0.77% | +3.3% |
| CATC | Sell | Cambridge Bancorp | $13,606,000 | -20.5% | 271,844 | -26.0% | 0.75% | -24.7% |
| PBNC | Buy | Paragon Commercial Corporation | $13,203,000 | +9.2% | 363,911 | +5.3% | 0.73% | +3.4% |
| WTBFB | Sell | W.T.B. Financial Corporation | $12,912,000 | -2.3% | 60,764 | -7.6% | 0.71% | -7.5% |
| SONA | Sell | Southern National Bancorp of Virginia,Inc. | $11,641,000 | +4.1% | 892,012 | -3.1% | 0.64% | -1.4% |
| BMRC | Sell | Bank of Marin Bancorp | $11,634,000 | +0.0% | 233,940 | -2.7% | 0.64% | -5.2% |
| CHFC | New | Chemical Financial Corp. | $11,035,000 | – | 250,046 | – | 0.61% | – |
| CNOB | Buy | ConnectOne Bancorp, Inc. | $10,188,000 | +77.9% | 564,101 | +54.5% | 0.56% | +68.6% |
| OLBK | Sell | Old Line Bancshares, Inc. | $10,135,000 | -4.7% | 513,667 | -13.0% | 0.56% | -9.7% |
| NCBS | Buy | Nicolet Bankshares, Inc. | $10,106,000 | +13.7% | 263,511 | +12.9% | 0.56% | +7.7% |
| ABTX | Buy | Allegiance Bancshares, Inc. | $9,693,000 | +23.5% | 358,987 | +13.8% | 0.54% | +16.8% |
| BSRR | Sell | Sierra Bancorp | $9,405,000 | +4.6% | 501,312 | -6.9% | 0.52% | -1.0% |
| FCCY | Sell | 1st Constitution Bancorp | $9,138,000 | +3.0% | 665,092 | -9.9% | 0.50% | -2.3% |
| UNTY | Sell | Unity Bancorp, Inc. | $8,865,000 | -10.1% | 691,519 | -10.9% | 0.49% | -14.8% |
| EBTC | Buy | Enterprise Bancorp, Inc. | $8,628,000 | +27.8% | 308,137 | +9.5% | 0.48% | +21.1% |
| PPBI | Sell | Pacific Premier Bancorp, Inc. | $8,274,000 | -6.4% | 312,705 | -15.1% | 0.46% | -11.3% |
| UBSI | Sell | United Bankshares | $7,937,000 | -41.3% | 210,710 | -41.6% | 0.44% | -44.5% |
| CPF | Sell | Central Pacific Financial Corp. | $7,774,000 | -47.0% | 308,599 | -50.3% | 0.43% | -49.8% |
| SHBI | Buy | Shore Bancshares, Inc. | $7,621,000 | +1.8% | 646,970 | +1.6% | 0.42% | -3.4% |
| FFWM | Buy | First Foundation Inc. | $7,539,000 | +46.9% | 305,590 | +28.0% | 0.42% | +39.1% |
| ESXB | Buy | Community Bankers Trust Corporation | $7,399,000 | +8.4% | 1,365,077 | +3.6% | 0.41% | +2.8% |
| Buy | First Choice Bank | $6,986,000 | +1.9% | 442,149 | +0.0% | 0.39% | -3.5% | |
| XBKS | Buy | Xenith Bankshares, Inc. | $6,921,000 | +27.9% | 2,996,073 | +340.0% | 0.38% | +20.9% |
| BNCN | Sell | BNC Bancorp | $6,552,000 | +5.6% | 269,393 | -1.4% | 0.36% | 0.0% |
| HBNC | Buy | Horizon Bancorp | $6,548,000 | +19.4% | 222,857 | +2.2% | 0.36% | +13.1% |
| FVCB | Buy | First Virginia Community Bank | $6,351,000 | +5.8% | 372,500 | +24.2% | 0.35% | +0.3% |
| MCBC | Sell | Macatawa Bank Corporation | $6,298,000 | +6.9% | 788,293 | -0.8% | 0.35% | +1.2% |
| UVSP | Buy | Univest Corporation of Pennsylvania | $6,294,000 | +40.3% | 269,452 | +26.3% | 0.35% | +32.8% |
| MSFG | Buy | MainSource Financial Group, Inc. | $6,202,000 | +36.8% | 248,564 | +20.9% | 0.34% | +29.9% |
| BOCH | Buy | Bank of Commerce Holdings | $6,154,000 | +36.8% | 854,653 | +25.3% | 0.34% | +29.8% |
| FCCO | Sell | First Community Corporation | $6,116,000 | +4.5% | 388,319 | -7.2% | 0.34% | -0.9% |
| ISTR | Buy | Investar Holding | $6,109,000 | +42.9% | 397,948 | +43.2% | 0.34% | +35.3% |
| FGFH | Buy | Foresight Financial Group, Inc. | $6,000,000 | +20.5% | 234,376 | +16.2% | 0.33% | +14.1% |
| NCOM | Buy | National Commerce Corporation | $5,957,000 | +92.0% | 220,147 | +65.5% | 0.33% | +81.8% |
| BMTC | Sell | Bryn Mawr Bank Corporation | $5,725,000 | -9.2% | 178,971 | -17.1% | 0.32% | -14.1% |
| SBBX | Sell | Sussex Bancorp | $5,710,000 | +19.2% | 349,682 | -2.5% | 0.32% | +12.9% |
| WFBI | Sell | WashingtonFirst Bankshares, Inc. | $5,646,000 | +10.3% | 229,439 | -3.2% | 0.31% | +4.3% |
| OCBI | Buy | Orange County Bancorp | $5,627,000 | +8.8% | 120,628 | +8.9% | 0.31% | +3.0% |
| NBCT | Buy | Northwest Bancorporation, Inc. | $5,447,000 | +2.2% | 588,281 | +1.0% | 0.30% | -3.2% |
| BCML | Sell | Bay Commercial Bank | $5,299,000 | -2.4% | 430,686 | -4.4% | 0.29% | -7.6% |
| BFIN | Buy | BankFinancial Corporation | $5,264,000 | +48.6% | 414,471 | +40.3% | 0.29% | +40.6% |
| CSTR | New | CapStar Financial Holdings, Inc. | $5,245,000 | – | 310,000 | – | 0.29% | – |
| NWIN | Sell | NorthWest Indiana Bancorp | $5,191,000 | +1.2% | 162,204 | -8.3% | 0.29% | -4.0% |
| PBAM | Buy | Private Bancorp of America, Inc. | $5,135,000 | +15.8% | 318,541 | +11.8% | 0.28% | +9.7% |
| AVBH | Sell | Avidbank Holdings, Inc. | $5,071,000 | +5.8% | 322,179 | -1.5% | 0.28% | 0.0% |
| EQBK | Buy | Equity Bancshares, Inc. | $5,058,000 | +20.2% | 195,000 | +2.6% | 0.28% | +13.9% |
| CWBK | Sell | CommerceWest Bank | $4,957,000 | -3.6% | 313,712 | -10.3% | 0.27% | -8.7% |
| CCNE | Buy | CNB Financial Corporation | $4,948,000 | +20.3% | 233,823 | +1.2% | 0.27% | +13.8% |
| SMBK | Sell | SmartFinancial, Inc. | $4,776,000 | -8.8% | 293,023 | -10.5% | 0.26% | -13.4% |
| MNSB | Sell | MainStreet Bancshares, Inc. | $4,709,000 | +3.1% | 373,726 | -2.6% | 0.26% | -2.3% |
| MFNC | Sell | Mackinac Financial Corporation | $4,622,000 | -18.2% | 402,291 | -21.6% | 0.26% | -22.7% |
| CFNL | Sell | Cardinal Financial Corporation | $4,495,000 | -17.1% | 172,278 | -30.3% | 0.25% | -21.5% |
| OVLY | Sell | Oak Valley Bancorp | $4,377,000 | -1.2% | 429,089 | -5.6% | 0.24% | -6.2% |
| BFC | Buy | Bank First National Corporation | $4,278,000 | +10.0% | 141,197 | +1.7% | 0.24% | +4.0% |
| ICBK | Buy | County Bancorp, Inc. | $4,149,000 | +85.6% | 207,335 | +91.3% | 0.23% | +76.2% |
| AMRB | Buy | American River Bankshares | $4,102,000 | +8.5% | 378,388 | +2.7% | 0.23% | +3.2% |
| FMNB | Sell | Farmers National Banc Corp. | $4,054,000 | +20.9% | 376,098 | -1.3% | 0.22% | +14.3% |
| FBK | New | FB Financial Corp. | $4,036,000 | – | 200,000 | – | 0.22% | – |
| MLVF | Buy | Malvern Bancorp, Inc. | $3,882,000 | +28.7% | 236,719 | +22.4% | 0.21% | +21.6% |
| Buy | First Security, Inc. | $3,863,000 | +48.3% | 162,125 | +43.8% | 0.21% | +40.1% | |
| SYBT | Sell | Stock Yards Bancorp, Inc. | $3,815,000 | -14.7% | 115,751 | -26.9% | 0.21% | -19.2% |
| AUBN | Sell | Auburn National Bancorporation, Inc. | $3,817,000 | -15.0% | 139,060 | -11.8% | 0.21% | -19.5% |
| BHWB | Buy | Blackhawk Bancorp, Inc. | $3,807,000 | +16.9% | 182,336 | +1.6% | 0.21% | +10.5% |
| WNEB | New | Western New England Bancorp, Inc. | $3,752,000 | – | 490,493 | – | 0.21% | – |
| PNFP | New | Pinnacle Financial Partners, Inc. | $3,616,000 | – | 66,872 | – | 0.20% | – |
| ORRF | Sell | Orrstown Financial Services, Inc | $3,601,000 | +8.5% | 182,330 | -0.8% | 0.20% | +2.6% |
| Buy | American Riviera Bank | $3,573,000 | +14.2% | 307,240 | +6.0% | 0.20% | +7.7% | |
| BANR | Sell | Banner Corporation | $3,556,000 | -8.4% | 81,293 | -11.0% | 0.20% | -13.7% |
| CNBKA | Sell | Century Bancorp, Inc. | $3,516,000 | -0.8% | 77,588 | -7.3% | 0.19% | -6.3% |
| DCBF | Sell | DCB Financial Corp | $3,422,000 | -6.0% | 447,367 | -13.3% | 0.19% | -10.8% |
| CSHX | Buy | Cashmere Valley Bank | $3,413,000 | +14.7% | 77,558 | +6.9% | 0.19% | +9.2% |
| NWYF | Buy | Northway Financial, Inc. | $3,355,000 | +18.1% | 151,488 | +13.0% | 0.18% | +11.4% |
| NECB | Sell | Northeast Community Bancorp, Inc. | $3,329,000 | +8.5% | 475,600 | -2.8% | 0.18% | +2.8% |
| PSBQ | Buy | PSB Holdings, Inc. | $3,255,000 | +15.2% | 67,089 | +6.9% | 0.18% | +9.1% |
| MFGI | Buy | Merchants Financial Group, Inc. | $3,249,000 | +6.7% | 67,687 | +2.2% | 0.18% | +0.6% |
| UIHC | Sell | United Insurance Holdings Corp. | $3,165,000 | -0.1% | 186,369 | -3.6% | 0.18% | -5.4% |
| QNBC | Sell | QNB Corp. | $3,176,000 | +1.9% | 93,410 | -4.1% | 0.18% | -3.8% |
| NODB | Sell | North Dallas Bank & Trust Co. | $3,080,000 | -28.6% | 50,626 | -28.4% | 0.17% | -32.3% |
| IALB | Buy | Independent Alliance Banks, Inc. | $3,026,000 | +35.9% | 84,057 | +13.0% | 0.17% | +28.5% |
| WNRP | Buy | West Suburban Bancorp, Inc. | $2,994,000 | -2.9% | 7,028 | +2.6% | 0.16% | -8.3% |
| FXNC | Sell | First National Corporation | $2,909,000 | -18.4% | 263,720 | -28.3% | 0.16% | -22.6% |
| FISB | Buy | 1st Capital Bank | $2,922,000 | +1.1% | 257,426 | +2.0% | 0.16% | -4.2% |
| RVSB | Sell | Riverview Bancorp, Inc. | $2,914,000 | -34.8% | 541,574 | -42.7% | 0.16% | -38.3% |
| VCBP | Sell | Valley Commerce Bancorp | $2,785,000 | -26.7% | 122,936 | -47.8% | 0.15% | -30.6% |
| TRCY | Buy | Tri City Bankshares Corporation | $2,786,000 | +307.9% | 165,318 | +309.2% | 0.15% | +285.0% |
| SBNC | Buy | Southern BancShares (N.C.), Inc. | $2,749,000 | +9.0% | 1,617 | +2.5% | 0.15% | +3.4% |
| PRCB | Sell | Premier Commercial Bancorp | $2,759,000 | -0.8% | 355,972 | -6.6% | 0.15% | -6.2% |
| Buy | Suncrest Bank | $2,740,000 | +16.3% | 342,503 | +4.0% | 0.15% | +10.2% | |
| ILII | Buy | Illini Corporation | $2,674,000 | +12.6% | 39,433 | +7.9% | 0.15% | +6.5% |
| VBTX | Sell | Veritex Holdings, Inc. | $2,643,000 | +2.6% | 151,960 | -5.5% | 0.15% | -2.7% |
| FBSS | Sell | Fauquier Bancshares, Inc. | $2,554,000 | -9.8% | 176,476 | -9.5% | 0.14% | -14.5% |
| Buy | First BancTrust Corporation | $2,372,000 | +30.2% | 128,237 | +24.6% | 0.13% | +23.6% | |
| TRCB | Buy | Two River Bancorp | $2,338,000 | +99.5% | 202,922 | +88.0% | 0.13% | +89.7% |
| PPBN | New | Pinnacle Bankshares Corporation | $2,301,000 | – | 112,580 | – | 0.13% | – |
| CART | New | Carolina Trust BancShares, Inc. | $2,281,000 | – | 373,964 | – | 0.13% | – |
| PFLC | Buy | Pacific Financial Corporation | $2,247,000 | +5.7% | 301,621 | +1.6% | 0.12% | 0.0% |
| EFSI | Buy | Eagle Financial Services Inc. | $2,183,000 | +3.3% | 93,084 | +0.9% | 0.12% | -1.6% |
| SCSG | Buy | SouthCrest Financial Group, Inc. | $2,136,000 | +7.7% | 300,886 | +3.4% | 0.12% | +1.7% |
| PEBK | Sell | Peoples Bancorp of North Carolina, Inc. | $2,141,000 | -20.8% | 101,967 | -26.1% | 0.12% | -25.3% |
| MCHB | Sell | Mechanics Bank | $2,104,000 | -13.2% | 75 | -15.7% | 0.12% | -17.7% |
| FNLC | Sell | The First Bancorp, Inc. | $2,081,000 | +1.9% | 86,800 | -8.4% | 0.12% | -3.4% |
| CZFS | Buy | Citizens Financial Services | $2,070,000 | +9.4% | 41,069 | +10.7% | 0.11% | +3.6% |
| RYFL | Sell | Royal Financial, Inc. | $2,067,000 | +2.8% | 165,915 | -4.2% | 0.11% | -2.6% |
| FCOB | Buy | 1st Colonial Bancorp | $2,021,000 | +13.9% | 234,948 | +2.7% | 0.11% | +7.7% |
| PKBK | Sell | Parke Bancorp, Inc. | $2,024,000 | -41.4% | 134,239 | -49.8% | 0.11% | -44.3% |
| DNBF | Buy | DNB Financial Corporation | $1,994,000 | +93.6% | 78,621 | +80.2% | 0.11% | +83.3% |
| MVLY | Buy | Mission Valley Bancorp | $1,806,000 | +12.6% | 218,908 | +4.4% | 0.10% | +6.4% |
| BSCA | Buy | Bank of Santa Clarita | $1,807,000 | +19.6% | 159,930 | +4.6% | 0.10% | +13.6% |
| MBVT | Buy | Merchants Bancshares, Inc. | $1,756,000 | +37.5% | 54,212 | +29.4% | 0.10% | +31.1% |
| PBCO | Sell | People's Bank of Commerce | $1,744,000 | -0.4% | 186,887 | -0.0% | 0.10% | -5.9% |
| Buy | HomeTown Bankshares Corporation | $1,691,000 | -1.3% | 187,843 | +4.0% | 0.09% | -7.0% | |
| TCBK | Sell | TriCo Bancshares | $1,596,000 | -16.4% | 59,618 | -13.7% | 0.09% | -20.7% |
| FFHD | Buy | FirstAtlantic Financial Holdings, Inc. | $1,521,000 | +73.4% | 140,788 | +66.9% | 0.08% | +64.7% |
| GBNK | Sell | Guaranty Bancorp | $1,461,000 | -46.1% | 81,852 | -49.6% | 0.08% | -48.7% |
| SOMC | Buy | Southern Michigan Bancorp Inc. | $1,458,000 | +4.5% | 55,630 | +5.7% | 0.08% | 0.0% |
| CYSM | Sell | Community Bank of Santa Maria | $1,408,000 | -8.3% | 173,824 | -12.6% | 0.08% | -13.3% |
| KTYB | Buy | Kentucky Bancshares, Inc. | $1,356,000 | +92.3% | 43,757 | +67.7% | 0.08% | +82.9% |
| CYFL | Buy | Century Financial Corporation | $1,243,000 | +18.5% | 71,238 | +5.9% | 0.07% | +13.1% |
| GFED | Sell | Guaranty Federal Bancshares, Inc. | $1,140,000 | -64.3% | 70,571 | -64.7% | 0.06% | -66.1% |
| BNNP | Buy | Bank of Napa, N.A. | $1,106,000 | +31.7% | 102,906 | +22.5% | 0.06% | +24.5% |
| RCBC | Buy | River City Bank | $1,014,000 | +11.3% | 7,827 | +6.8% | 0.06% | +5.7% |
| Buy | Citizens Bancorp | $977,000 | +43.7% | 76,337 | +39.2% | 0.05% | +35.0% | |
| DHIL | Sell | Diamond Hill Investment Group, Inc. | $971,000 | -54.3% | 5,255 | -53.4% | 0.05% | -56.5% |
| HFBC | Sell | HopFed Bancorp, Inc. | $843,000 | -13.8% | 75,300 | -10.8% | 0.05% | -17.5% |
| TWCF | Sell | Town and Country Financial Corporation | $837,000 | -2.7% | 58,728 | -7.8% | 0.05% | -8.0% |
| LKFN | Buy | Lakeland Financial Corporation | $802,000 | +13.1% | 22,638 | +50.0% | 0.04% | +7.3% |
| YRKB | Buy | York Traditions Bank | $755,000 | +64.5% | 60,392 | +57.9% | 0.04% | +55.6% |
| PCBC | Buy | Pacific Commerce Bancorp | $521,000 | +150.5% | 80,150 | +134.7% | 0.03% | +141.7% |
| ACFC | Sell | Atlantic Coast Financial Corporation | $337,000 | -81.4% | 53,311 | -82.4% | 0.02% | -82.1% |
| BAOB | Sell | Baraboo Bancorporation, Inc. | $323,000 | -1.5% | 137,405 | -26.8% | 0.02% | -5.3% |
| Exit | Embassy Bancorp, Inc. | $0 | – | -16,093 | – | -0.01% | – | |
| OPOF | Exit | Old Point Financial Corporation | $0 | – | -11,927 | – | -0.01% | – |
| LPSB | Exit | La Porte Bancorp, Inc. | $0 | – | -15,100 | – | -0.01% | – |
| BKJ | Exit | Bancorp of New Jersey, Inc. | $0 | – | -22,716 | – | -0.02% | – |
| PFBC | Exit | Preferred Bank | $0 | – | -24,600 | – | -0.04% | – |
| FXCB | Exit | Fox Chase Bancorp, Inc. | $0 | – | -58,429 | – | -0.07% | – |
| Exit | ProAm?rica Bank | $0 | – | -42,623 | – | -0.07% | – | |
| Exit | Foundation Bancorp, Inc. | $0 | – | -100,376 | – | -0.07% | – | |
| BNK | Exit | C1 Financial, Inc. | $0 | – | -60,000 | – | -0.08% | – |
| ANCX | Exit | Access National Corporation | $0 | – | -77,021 | – | -0.09% | – |
| CART | Exit | Carolina Trust Bank | $0 | – | -372,714 | – | -0.13% | – |
| RGTB | Exit | Regent Bancorp, Inc. | $0 | – | -253,517 | – | -0.13% | – |
| BVA | Exit | Cordia Bancorp Inc. | $0 | – | -451,063 | – | -0.13% | – |
| WFD | Exit | Westfield Financial Inc. | $0 | – | -490,493 | – | -0.22% | – |
| AVNU | Exit | Avenue Financial Holdings, Inc. | $0 | – | -477,700 | – | -0.55% | – |
| TLMR | Exit | Talmer Bancorp, Inc. | $0 | – | -529,200 | – | -0.59% | – |
Q2 2016
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| EFSC | New | Enterprise Financial Services Corp | $44,423,000 | – | 1,592,804 | – | 2.59% | – |
| MBWM | New | Mercantile Bank Corporation | $36,347,000 | – | 1,523,343 | – | 2.12% | – |
| STBZ | New | State Bank Financial Corporation | $35,593,000 | – | 1,749,045 | – | 2.08% | – |
| SCNB | New | Suffolk Bancorp | $32,881,000 | – | 1,050,163 | – | 1.92% | – |
| SASR | New | Sandy Spring Bancorp Inc. | $32,742,000 | – | 1,126,693 | – | 1.91% | – |
| CSFL | New | CenterState Banks, Inc. | $28,944,000 | – | 1,837,687 | – | 1.69% | – |
| TSC | New | TriState Capital Holdings, Inc. | $28,146,000 | – | 2,049,946 | – | 1.64% | – |
| FMBI | New | First Midwest Bancorp, Inc. | $27,333,000 | – | 1,556,540 | – | 1.59% | – |
| CUNB | New | CU Bancorp | $27,182,000 | – | 1,195,881 | – | 1.58% | – |
| PGC | New | Peapack-Gladstone Financial Corporation | $25,063,000 | – | 1,354,019 | – | 1.46% | – |
| PCBK | New | Pacific Continental Corporation | $24,100,000 | – | 1,534,023 | – | 1.40% | – |
| COBZ | New | CoBiz Financial Inc. | $22,912,000 | – | 1,958,273 | – | 1.34% | – |
| LION | New | Fidelity Southern Corporation | $22,889,000 | – | 1,460,697 | – | 1.34% | – |
| PSTB | New | Park Sterling Corp. | $21,528,000 | – | 3,036,355 | – | 1.26% | – |
| MBFI | New | MB Financial, Inc. | $21,333,000 | – | 588,021 | – | 1.24% | – |
| BPFH | New | Boston Private Financial Holdings, Inc. | $21,206,000 | – | 1,800,163 | – | 1.24% | – |
| FRME | New | First Merchants Corp. | $19,528,000 | – | 783,326 | – | 1.14% | – |
| OKSB | New | Southwest Bancorp, Inc. | $19,332,000 | – | 1,141,867 | – | 1.13% | – |
| LBAI | New | Lakeland Bancorp, Inc. | $18,317,000 | – | 1,609,554 | – | 1.07% | – |
| HTBK | New | Heritage Commerce Corp | $17,657,000 | – | 1,676,829 | – | 1.03% | – |
| CBF | New | Capital Bank Financial Corp. | $17,439,000 | – | 605,524 | – | 1.02% | – |
| HFWA | New | Heritage Financial Corporation | $17,206,000 | – | 978,738 | – | 1.00% | – |
| OSBC | New | Old Second Bancorp, Inc. | $17,165,000 | – | 2,513,182 | – | 1.00% | – |
| CATC | New | Cambridge Bancorp | $17,104,000 | – | 367,126 | – | 1.00% | – |
| HEOP | New | Heritage Oaks Bancorp | $16,423,000 | – | 2,068,442 | – | 0.96% | – |
| BLMT | New | BSB Bancorp, Inc. | $16,132,000 | – | 712,224 | – | 0.94% | – |
| AMH | New | American Homes 4 Rent | $15,929,000 | – | 777,800 | – | 0.93% | – |
| QCRH | New | QCR Holdings, Inc. | $15,820,000 | – | 581,835 | – | 0.92% | – |
| SGBK | New | Stonegate Bank | $15,602,000 | – | 483,496 | – | 0.91% | – |
| FBIZ | New | First Business Financial Services | $15,507,000 | – | 660,728 | – | 0.90% | – |
| CVLY | New | Codorus Valley Bancorp, Inc. | $15,044,000 | – | 738,532 | – | 0.88% | – |
| CPF | New | Central Pacific Financial Corp. | $14,665,000 | – | 621,399 | – | 0.86% | – |
| WSBF | New | Waterstone Financial, Inc. | $14,082,000 | – | 918,568 | – | 0.82% | – |
| SFST | New | Southern First Bancshares, Inc. | $14,002,000 | – | 581,009 | – | 0.82% | – |
| SBFC | New | Southeastern Bank Financial Corporation | $13,919,000 | – | 289,988 | – | 0.81% | – |
| UBSI | New | United Bankshares | $13,530,000 | – | 360,711 | – | 0.79% | – |
| WTBFB | New | W.T.B. Financial Corporation | $13,219,000 | – | 65,764 | – | 0.77% | – |
| EGBN | New | Eagle Bancorp, Inc. | $13,206,000 | – | 274,490 | – | 0.77% | – |
| NBHC | New | National Bank Holdings Corporation | $13,024,000 | – | 639,700 | – | 0.76% | – |
| CVCY | New | Central Valley Community Bancorp | $12,823,000 | – | 915,895 | – | 0.75% | – |
| UBSH | New | Union Bankshares Corporation | $12,734,000 | – | 515,351 | – | 0.74% | – |
| PBNC | New | Paragon Commercial Corporation | $12,096,000 | – | 345,611 | – | 0.70% | – |
| FNBCQ | New | First NBC Bank | $12,065,000 | – | 718,583 | – | 0.70% | – |
| BMRC | New | Bank of Marin Bancorp | $11,633,000 | – | 240,496 | – | 0.68% | – |
| PEBO | New | Peoples Bancorp Inc. | $11,576,000 | – | 531,231 | – | 0.68% | – |
| SONA | New | Southern National Bancorp of Virginia,Inc. | $11,185,000 | – | 920,590 | – | 0.65% | – |
| IBKC | New | Iberiabank Corp | $10,783,000 | – | 180,534 | – | 0.63% | – |
| OLBK | New | Old Line Bancshares, Inc. | $10,632,000 | – | 590,667 | – | 0.62% | – |
| TLMR | New | Talmer Bancorp, Inc. | $10,145,000 | – | 529,200 | – | 0.59% | – |
| UNTY | New | Unity Bancorp, Inc. | $9,860,000 | – | 775,750 | – | 0.58% | – |
| SBCF | New | Seacoast Banking Corporation of Florida | $9,757,000 | – | 600,829 | – | 0.57% | – |
| AVNU | New | Avenue Financial Holdings, Inc. | $9,387,000 | – | 477,700 | – | 0.55% | – |
| SAMG | New | Silvercrest Asset Management Group Inc. | $9,269,000 | – | 757,259 | – | 0.54% | – |
| ACBI | New | Atlantic Capital Bancshares, Inc. | $8,989,000 | – | 621,622 | – | 0.52% | – |
| BSRR | New | Sierra Bancorp | $8,988,000 | – | 538,527 | – | 0.52% | – |
| NCBS | New | Nicolet Bankshares, Inc. | $8,890,000 | – | 233,462 | – | 0.52% | – |
| FCCY | New | 1st Constitution Bancorp | $8,873,000 | – | 738,160 | – | 0.52% | – |
| PPBI | New | Pacific Premier Bancorp, Inc. | $8,837,000 | – | 368,205 | – | 0.52% | – |
| FBMS | New | First Bancshares, Inc. | $8,350,000 | – | 483,491 | – | 0.49% | – |
| FLIC | New | First of Long Island Corp. | $8,043,000 | – | 280,543 | – | 0.47% | – |
| AMBZ | New | American Business Bank | $7,949,000 | – | 290,642 | – | 0.46% | – |
| FBNC | New | First Bancorp | $7,914,000 | – | 450,164 | – | 0.46% | – |
| ABTX | New | Allegiance Bancshares, Inc. | $7,849,000 | – | 315,458 | – | 0.46% | – |
| WBBW | New | Westbury Bancorp, Inc. | $7,558,000 | – | 387,580 | – | 0.44% | – |
| SHBI | New | Shore Bancshares, Inc. | $7,484,000 | – | 636,970 | – | 0.44% | – |
| FNBG | New | FNB Bancorp | $7,460,000 | – | 263,589 | – | 0.44% | – |
| HCFB | New | HCSB Financial Corporation | $7,116,000 | – | 22,238,470 | – | 0.42% | – |
| SF | New | Stifel Financial Corp. | $6,891,000 | – | 219,096 | – | 0.40% | – |
| New | First Choice Bank | $6,853,000 | – | 442,148 | – | 0.40% | – | |
| ESXB | New | Community Bankers Trust Corporation | $6,824,000 | – | 1,317,423 | – | 0.40% | – |
| EBTC | New | Enterprise Bancorp, Inc. | $6,750,000 | – | 281,352 | – | 0.39% | – |
| MBTF | New | MBT Financial Corp. | $6,605,000 | – | 825,633 | – | 0.38% | – |
| BWFG | New | Bankwell Financial Group, Inc. | $6,540,000 | – | 296,444 | – | 0.38% | – |
| UBNK | New | United Financial Bancorp, Inc. | $6,302,000 | – | 485,486 | – | 0.37% | – |
| BMTC | New | Bryn Mawr Bank Corporation | $6,306,000 | – | 215,952 | – | 0.37% | – |
| BNCN | New | BNC Bancorp | $6,204,000 | – | 273,205 | – | 0.36% | – |
| FRBA | New | First Bank | $6,064,000 | – | 873,734 | – | 0.35% | – |
| YDKN | New | Yadkin Financial Corporation | $6,012,000 | – | 239,624 | – | 0.35% | – |
| FVCB | New | First Virginia Community Bank | $6,000,000 | – | 300,000 | – | 0.35% | – |
| WTFC | New | Wintrust Financial Corporation | $6,008,000 | – | 117,802 | – | 0.35% | – |
| SFBS | New | ServisFirst Bancshares, Inc. | $6,006,000 | – | 121,600 | – | 0.35% | – |
| MCBC | New | Macatawa Bank Corporation | $5,894,000 | – | 794,293 | – | 0.34% | – |
| TCFC | New | Community Financial Corporation | $5,868,000 | – | 265,032 | – | 0.34% | – |
| FCCO | New | First Community Corporation | $5,852,000 | – | 418,319 | – | 0.34% | – |
| LTXB | New | LegacyTexas Financial Group, Inc. | $5,761,000 | – | 214,072 | – | 0.34% | – |
| CNOB | New | ConnectOne Bancorp, Inc. | $5,727,000 | – | 365,000 | – | 0.33% | – |
| MFNC | New | Mackinac Financial Corporation | $5,651,000 | – | 513,238 | – | 0.33% | – |
| AHL | New | Aspen Insurance Holdings Limited | $5,520,000 | – | 119,012 | – | 0.32% | – |
| HBNC | New | Horizon Bancorp | $5,484,000 | – | 218,142 | – | 0.32% | – |
| CHFN | New | Charter Financial Corporation | $5,463,000 | – | 411,395 | – | 0.32% | – |
| BCML | New | Bay Commercial Bank | $5,430,000 | – | 450,686 | – | 0.32% | – |
| CFNL | New | Cardinal Financial Corporation | $5,425,000 | – | 247,278 | – | 0.32% | – |
| XBKS | New | Xenith Bankshares, Inc. | $5,413,000 | – | 680,926 | – | 0.32% | – |
| UCBI | New | United Community Banks, Inc. | $5,355,000 | – | 292,768 | – | 0.31% | – |
| NBCT | New | Northwest Bancorporation, Inc. | $5,328,000 | – | 582,281 | – | 0.31% | – |
| SMBK | New | SmartFinancial, Inc. | $5,236,000 | – | 327,274 | – | 0.30% | – |
| OCBI | New | Orange County Bancorp | $5,172,000 | – | 110,743 | – | 0.30% | – |
| CWBK | New | CommerceWest Bank | $5,140,000 | – | 349,712 | – | 0.30% | – |
| WFBI | New | WashingtonFirst Bankshares, Inc. | $5,120,000 | – | 236,930 | – | 0.30% | – |
| NWIN | New | NorthWest Indiana Bancorp | $5,130,000 | – | 176,889 | – | 0.30% | – |
| VABK | New | Virginia National Bankshares Corp. | $5,126,000 | – | 209,209 | – | 0.30% | – |
| FFWM | New | First Foundation Inc. | $5,132,000 | – | 238,700 | – | 0.30% | – |
| CFCB | New | Centrue Financial Corporation | $5,116,000 | – | 294,038 | – | 0.30% | – |
| FGFH | New | Foresight Financial Group, Inc. | $4,980,000 | – | 201,626 | – | 0.29% | – |
| AVBH | New | Avidbank Holdings, Inc. | $4,793,000 | – | 327,179 | – | 0.28% | – |
| SBBX | New | Sussex Bancorp | $4,792,000 | – | 358,688 | – | 0.28% | – |
| HTH | New | Hilltop Holdings Inc. | $4,776,000 | – | 227,532 | – | 0.28% | – |
| CABC | New | California Bank of Commerce | $4,716,000 | – | 350,901 | – | 0.28% | – |
| FCB | New | FCB Financial Holdings, Inc. | $4,654,000 | – | 136,871 | – | 0.27% | – |
| MNSB | New | MainStreet Bancshares, Inc. | $4,566,000 | – | 383,726 | – | 0.27% | – |
| MSFG | New | MainSource Financial Group, Inc. | $4,533,000 | – | 205,564 | – | 0.26% | – |
| AUBN | New | Auburn National Bancorporation, Inc. | $4,491,000 | – | 157,639 | – | 0.26% | – |
| BOCH | New | Bank of Commerce Holdings | $4,500,000 | – | 681,851 | – | 0.26% | – |
| UVSP | New | Univest Corporation of Pennsylvania | $4,486,000 | – | 213,403 | – | 0.26% | – |
| SYBT | New | Stock Yards Bancorp, Inc. | $4,470,000 | – | 158,358 | – | 0.26% | – |
| RVSB | New | Riverview Bancorp, Inc. | $4,468,000 | – | 944,564 | – | 0.26% | – |
| PBAM | New | Private Bancorp of America, Inc. | $4,435,000 | – | 285,041 | – | 0.26% | – |
| OVLY | New | Oak Valley Bancorp | $4,432,000 | – | 454,589 | – | 0.26% | – |
| CARE | New | Carter Bank & Trust | $4,384,000 | – | 346,558 | – | 0.26% | – |
| FCFP | New | First Community Financial Partners, Inc. | $4,381,000 | – | 497,801 | – | 0.26% | – |
| WTBA | New | West Bancorporation, Inc. | $4,342,000 | – | 233,578 | – | 0.25% | – |
| NODB | New | North Dallas Bank & Trust Co. | $4,312,000 | – | 70,687 | – | 0.25% | – |
| ISTR | New | Investar Holding | $4,275,000 | – | 277,948 | – | 0.25% | – |
| EQBK | New | Equity Bancshares, Inc. | $4,207,000 | – | 190,000 | – | 0.24% | – |
| CCNE | New | CNB Financial Corporation | $4,114,000 | – | 231,122 | – | 0.24% | – |
| HIFS | New | Hingham Institution for Savings | $4,113,000 | – | 33,463 | – | 0.24% | – |
| New | John Marshall Bank | $3,980,000 | – | 248,000 | – | 0.23% | – | |
| BUSE | New | First Busey Corporation | $3,903,000 | – | 182,457 | – | 0.23% | – |
| BFC | New | Bank First National Corporation | $3,889,000 | – | 138,897 | – | 0.23% | – |
| BANR | New | Banner Corporation | $3,884,000 | – | 91,293 | – | 0.23% | – |
| VCBP | New | Valley Commerce Bancorp | $3,800,000 | – | 235,303 | – | 0.22% | – |
| AMRB | New | American River Bankshares | $3,779,000 | – | 368,357 | – | 0.22% | – |
| WFD | New | Westfield Financial Inc. | $3,777,000 | – | 490,493 | – | 0.22% | – |
| DCBF | New | DCB Financial Corp | $3,639,000 | – | 516,159 | – | 0.21% | – |
| FXNC | New | First National Corporation | $3,563,000 | – | 367,720 | – | 0.21% | – |
| BFIN | New | BankFinancial Corporation | $3,543,000 | – | 295,471 | – | 0.21% | – |
| CNBKA | New | Century Bancorp, Inc. | $3,543,000 | – | 83,688 | – | 0.21% | – |
| PKBK | New | Parke Bancorp, Inc. | $3,455,000 | – | 267,436 | – | 0.20% | – |
| FNRN | New | First Northern Community Bancorp | $3,412,000 | – | 431,879 | – | 0.20% | – |
| FMNB | New | Farmers National Banc Corp. | $3,354,000 | – | 381,098 | – | 0.20% | – |
| ORRF | New | Orrstown Financial Services, Inc | $3,319,000 | – | 183,883 | – | 0.19% | – |
| BOTJ | New | Bank of the James Financial Group, Inc. | $3,302,000 | – | 269,528 | – | 0.19% | – |
| FBC | New | Flagstar Bancorp, Inc. | $3,268,000 | – | 133,900 | – | 0.19% | – |
| BHWB | New | Blackhawk Bancorp, Inc. | $3,257,000 | – | 179,468 | – | 0.19% | – |
| GFED | New | Guaranty Federal Bancshares, Inc. | $3,189,000 | – | 199,709 | – | 0.19% | – |
| UIHC | New | United Insurance Holdings Corp. | $3,167,000 | – | 193,369 | – | 0.18% | – |
| New | American Riviera Bank | $3,130,000 | – | 289,797 | – | 0.18% | – | |
| OCFC | New | OceanFirst Financial Corp. | $3,136,000 | – | 172,613 | – | 0.18% | – |
| QNBC | New | QNB Corp. | $3,117,000 | – | 97,410 | – | 0.18% | – |
| NCOM | New | National Commerce Corporation | $3,102,000 | – | 132,999 | – | 0.18% | – |
| WNRP | New | West Suburban Bancorp, Inc. | $3,084,000 | – | 6,847 | – | 0.18% | – |
| BCBP | New | BCB Bancorp, Inc. | $3,072,000 | – | 300,000 | – | 0.18% | – |
| NECB | New | Northeast Community Bancorp, Inc. | $3,068,000 | – | 489,307 | – | 0.18% | – |
| MFGI | New | Merchants Financial Group, Inc. | $3,046,000 | – | 66,212 | – | 0.18% | – |
| MLVF | New | Malvern Bancorp, Inc. | $3,016,000 | – | 193,319 | – | 0.18% | – |
| TBK | New | Triumph Bancorp, Inc. | $3,008,000 | – | 188,000 | – | 0.18% | – |
| SBCP | New | Sunshine Bancorp, Inc. | $2,974,000 | – | 210,000 | – | 0.17% | – |
| CSHX | New | Cashmere Valley Bank | $2,975,000 | – | 72,558 | – | 0.17% | – |
| FRBK | New | Republic First Bancorp, Inc. | $2,892,000 | – | 670,900 | – | 0.17% | – |
| FISB | New | 1st Capital Bank | $2,889,000 | – | 252,326 | – | 0.17% | – |
| NWYF | New | Northway Financial, Inc. | $2,842,000 | – | 134,054 | – | 0.17% | – |
| PSBQ | New | PSB Holdings, Inc. | $2,825,000 | – | 62,779 | – | 0.16% | – |
| FBSS | New | Fauquier Bancshares, Inc. | $2,833,000 | – | 194,963 | – | 0.16% | – |
| LSBK | New | Lake Shore Bancorp | $2,833,000 | – | 217,427 | – | 0.16% | – |
| CBNK | New | Chicopee Bancorp, Inc. | $2,807,000 | – | 153,730 | – | 0.16% | – |
| EMCF | New | Emclaire Financial Corp. | $2,806,000 | – | 117,207 | – | 0.16% | – |
| CARO | New | Carolina Financial Corporation | $2,802,000 | – | 150,000 | – | 0.16% | – |
| LFGP | New | Ledyard Financial Group, Inc. | $2,794,000 | – | 58,214 | – | 0.16% | – |
| PRCB | New | Premier Commercial Bancorp | $2,781,000 | – | 380,972 | – | 0.16% | – |
| GBNK | New | Guaranty Bancorp | $2,710,000 | – | 162,259 | – | 0.16% | – |
| PEBK | New | Peoples Bancorp of North Carolina, Inc. | $2,704,000 | – | 137,887 | – | 0.16% | – |
| New | First Menasha Bancshares, Inc. | $2,655,000 | – | 33,503 | – | 0.16% | – | |
| New | Bank of Southern California, N. A. | $2,640,000 | – | 320,000 | – | 0.15% | – | |
| New | First Security, Inc. | $2,604,000 | – | 112,742 | – | 0.15% | – | |
| NGHC | New | National General Holdings Corporation | $2,570,000 | – | 120,000 | – | 0.15% | – |
| VBTX | New | Veritex Holdings, Inc. | $2,577,000 | – | 160,860 | – | 0.15% | – |
| MN | New | Manning & Napier, Inc. | $2,552,000 | – | 268,603 | – | 0.15% | – |
| SBNC | New | Southern BancShares (N.C.), Inc. | $2,523,000 | – | 1,577 | – | 0.15% | – |
| BDGE | New | Bridge Bancorp Inc. | $2,498,000 | – | 87,965 | – | 0.15% | – |
| JRVR | New | James River Group Holdings, Ltd. | $2,486,000 | – | 73,210 | – | 0.14% | – |
| MSL | New | Midsouth Bancorp, Inc. | $2,487,000 | – | 247,693 | – | 0.14% | – |
| MCHB | New | Mechanics Bank | $2,425,000 | – | 89 | – | 0.14% | – |
| ILII | New | Illini Corporation | $2,375,000 | – | 36,532 | – | 0.14% | – |
| New | Suncrest Bank | $2,355,000 | – | 329,363 | – | 0.14% | – | |
| FISI | New | Financial Institutions, Inc. | $2,301,000 | – | 88,261 | – | 0.13% | – |
| BVA | New | Cordia Bancorp Inc. | $2,273,000 | – | 451,063 | – | 0.13% | – |
| CBKM | New | Consumers Bancorp, Inc. | $2,278,000 | – | 136,792 | – | 0.13% | – |
| RGTB | New | Regent Bancorp, Inc. | $2,256,000 | – | 253,517 | – | 0.13% | – |
| ICBK | New | County Bancorp, Inc. | $2,235,000 | – | 108,381 | – | 0.13% | – |
| BANC | New | Banc of California, Inc. | $2,230,000 | – | 123,204 | – | 0.13% | – |
| IALB | New | Independent Alliance Banks, Inc. | $2,227,000 | – | 74,370 | – | 0.13% | – |
| CART | New | Carolina Trust Bank | $2,199,000 | – | 372,714 | – | 0.13% | – |
| PFLC | New | Pacific Financial Corporation | $2,125,000 | – | 296,821 | – | 0.12% | – |
| CFST | New | Communities First Financial Corporation | $2,131,000 | – | 216,167 | – | 0.12% | – |
| DHIL | New | Diamond Hill Investment Group, Inc. | $2,127,000 | – | 11,288 | – | 0.12% | – |
| EFSI | New | Eagle Financial Services Inc. | $2,113,000 | – | 92,266 | – | 0.12% | – |
| PGNN | New | Paragon Financial Solutions, Inc. | $2,086,000 | – | 338,632 | – | 0.12% | – |
| HFBL | New | Home Federal Bancorp, Inc. of Louisiana | $2,071,000 | – | 96,556 | – | 0.12% | – |
| SBTB | New | SBT Bancorp, Inc. | $2,042,000 | – | 104,718 | – | 0.12% | – |
| FNLC | New | The First Bancorp, Inc. | $2,042,000 | – | 94,800 | – | 0.12% | – |
| PUGB | New | Puget Sound Bank | $2,034,000 | – | 108,158 | – | 0.12% | – |
| QNTO | New | Quaint Oak Bancorp | $2,024,000 | – | 173,000 | – | 0.12% | – |
| RYFL | New | Royal Financial, Inc. | $2,010,000 | – | 173,265 | – | 0.12% | – |
| SCSG | New | SouthCrest Financial Group, Inc. | $1,984,000 | – | 290,886 | – | 0.12% | – |
| PDOB | New | Presidio Bank | $1,959,000 | – | 143,544 | – | 0.11% | – |
| CLBH | New | Carolina Bank Holdings, Inc. | $1,930,000 | – | 110,400 | – | 0.11% | – |
| BKOR | New | Oak Ridge Financial Services, Inc. | $1,918,000 | – | 195,702 | – | 0.11% | – |
| GNBC | New | Green Bancorp, Inc. | $1,919,000 | – | 220,100 | – | 0.11% | – |
| WASH | New | Washington Trust Bancorp, Inc. | $1,918,000 | – | 50,575 | – | 0.11% | – |
| TCBK | New | TriCo Bancshares | $1,908,000 | – | 69,118 | – | 0.11% | – |
| CZFS | New | Citizens Financial Services | $1,892,000 | – | 37,104 | – | 0.11% | – |
| CUBN | New | Commerce Union Bancshares, Inc. | $1,863,000 | – | 122,020 | – | 0.11% | – |
| New | First BancTrust Corporation | $1,822,000 | – | 102,940 | – | 0.11% | – | |
| ACFC | New | Atlantic Coast Financial Corporation | $1,814,000 | – | 303,311 | – | 0.11% | – |
| FCOB | New | 1st Colonial Bancorp | $1,775,000 | – | 228,765 | – | 0.10% | – |
| GRRB | New | GrandSouth Bancorporation | $1,750,000 | – | 125,000 | – | 0.10% | – |
| PBCO | New | People's Bank of Commerce | $1,751,000 | – | 186,888 | – | 0.10% | – |
| New | Two Rivers Financial Group, Inc. | $1,754,000 | – | 77,082 | – | 0.10% | – | |
| ESSA | New | ESSA Bancorp, Inc. | $1,718,000 | – | 128,218 | – | 0.10% | – |
| New | HomeTown Bankshares Corporation | $1,714,000 | – | 180,618 | – | 0.10% | – | |
| New | Sevier County Bancshares, Inc. | $1,650,000 | – | 110,000 | – | 0.10% | – | |
| IBTX | New | Independent Bank Group, Inc | $1,652,000 | – | 38,500 | – | 0.10% | – |
| EVBS | New | Eastern Virginia Bankshares, Inc. | $1,624,000 | – | 215,078 | – | 0.10% | – |
| MVLY | New | Mission Valley Bancorp | $1,604,000 | – | 209,658 | – | 0.09% | – |
| New | Aquesta Financial Holdings, Inc. | $1,611,000 | – | 201,368 | – | 0.09% | – | |
| IROQ | New | IF Bancorp, Inc. | $1,542,000 | – | 84,072 | – | 0.09% | – |
| CYSM | New | Community Bank of Santa Maria | $1,535,000 | – | 198,824 | – | 0.09% | – |
| BSCA | New | Bank of Santa Clarita | $1,511,000 | – | 152,930 | – | 0.09% | – |
| ANCX | New | Access National Corporation | $1,503,000 | – | 77,021 | – | 0.09% | – |
| TCBI | New | Texas Capital Bancshares, Inc. | $1,493,000 | – | 31,936 | – | 0.09% | – |
| FDEF | New | First Defiance Financial Corp. | $1,475,000 | – | 37,963 | – | 0.09% | – |
| FGBI | New | First Guaranty Bancshares, Inc. | $1,480,000 | – | 92,477 | – | 0.09% | – |
| SRCE | New | 1st Source Corporation | $1,458,000 | – | 45,000 | – | 0.08% | – |
| FETM | New | Fentura Financial, Inc. | $1,423,000 | – | 106,975 | – | 0.08% | – |
| FNHC | New | Federated National Holding Company | $1,409,000 | – | 74,000 | – | 0.08% | – |
| BNK | New | C1 Financial, Inc. | $1,400,000 | – | 60,000 | – | 0.08% | – |
| IIBK | New | Idaho Independent Bank | $1,389,000 | – | 173,232 | – | 0.08% | – |
| SOMC | New | Southern Michigan Bancorp Inc. | $1,395,000 | – | 52,630 | – | 0.08% | – |
| PBNK | New | Pinnacle Bank | $1,273,000 | – | 173,166 | – | 0.07% | – |
| MBVT | New | Merchants Bancshares, Inc. | $1,277,000 | – | 41,901 | – | 0.07% | – |
| CSBK | New | Clifton Bancorp Inc. | $1,256,000 | – | 83,332 | – | 0.07% | – |
| SSBI | New | Summit State Bank | $1,246,000 | – | 90,755 | – | 0.07% | – |
| New | Foundation Bancorp, Inc. | $1,211,000 | – | 100,376 | – | 0.07% | – | |
| New | ProAm?rica Bank | $1,198,000 | – | 42,623 | – | 0.07% | – | |
| AMFC | New | AMB Financial Corp. | $1,181,000 | – | 93,750 | – | 0.07% | – |
| FXCB | New | Fox Chase Bancorp, Inc. | $1,188,000 | – | 58,429 | – | 0.07% | – |
| TRCB | New | Two River Bancorp | $1,172,000 | – | 107,922 | – | 0.07% | – |
| FCNH | New | First Colebrook Bancorp, Inc. | $1,091,000 | – | 60,627 | – | 0.06% | – |
| CBCO | New | Coastal Banking Co., Inc. | $1,086,000 | – | 83,615 | – | 0.06% | – |
| PBBI | New | PB Bancorp, Inc. | $1,058,000 | – | 125,601 | – | 0.06% | – |
| CYFL | New | Century Financial Corporation | $1,049,000 | – | 67,238 | – | 0.06% | – |
| DNBF | New | DNB Financial Corporation | $1,030,000 | – | 43,641 | – | 0.06% | – |
| COB | New | CommunityOne Bancorp | $995,000 | – | 78,700 | – | 0.06% | – |
| New | Professional Holding Corp. | $990,000 | – | 90,000 | – | 0.06% | – | |
| MBCN | New | Middlefield Banc Corp. | $980,000 | – | 30,963 | – | 0.06% | – |
| HFBC | New | HopFed Bancorp, Inc. | $978,000 | – | 84,406 | – | 0.06% | – |
| FSB | New | Franklin Financial Network, Inc. | $956,000 | – | 30,500 | – | 0.06% | – |
| BHB | New | Bar Harbor Bankshares | $927,000 | – | 26,408 | – | 0.05% | – |
| RCBC | New | River City Bank | $911,000 | – | 7,327 | – | 0.05% | – |
| FFHD | New | FirstAtlantic Financial Holdings, Inc. | $877,000 | – | 84,363 | – | 0.05% | – |
| TWCF | New | Town and Country Financial Corporation | $860,000 | – | 63,728 | – | 0.05% | – |
| BNNP | New | Bank of Napa, N.A. | $840,000 | – | 84,006 | – | 0.05% | – |
| SAL | New | Salisbury Bancorp, Inc. | $781,000 | – | 26,216 | – | 0.05% | – |
| CBFV | New | CB Financial Services, Inc. | $775,000 | – | 36,401 | – | 0.04% | – |
| SOME | New | Somerset Trust Holding Company | $764,000 | – | 18,644 | – | 0.04% | – |
| GLBZ | New | Glen Burnie Bancorp | $756,000 | – | 70,849 | – | 0.04% | – |
| New | Birmingham Bloomfield Bancshares, Inc. | $747,000 | – | 81,630 | – | 0.04% | – | |
| CBWA | New | Commencement Bank | $714,000 | – | 78,500 | – | 0.04% | – |
| LKFN | New | Lakeland Financial Corporation | $709,000 | – | 15,092 | – | 0.04% | – |
| PFBC | New | Preferred Bank | $710,000 | – | 24,600 | – | 0.04% | – |
| KTYB | New | Kentucky Bancshares, Inc. | $705,000 | – | 26,094 | – | 0.04% | – |
| New | Citizens Bancorp | $680,000 | – | 54,837 | – | 0.04% | – | |
| TRCY | New | Tri City Bankshares Corporation | $683,000 | – | 40,400 | – | 0.04% | – |
| CBOE | New | CBOE Holdings | $666,000 | – | 10,000 | – | 0.04% | – |
| LGHT | New | Lighthouse Bank | $644,000 | – | 45,479 | – | 0.04% | – |
| VBFC | New | Village Bank and Trust Financial Corp. | $655,000 | – | 29,133 | – | 0.04% | – |
| SRYB | New | Surrey Bancorp | $537,000 | – | 44,785 | – | 0.03% | – |
| SNBC | New | Sun Bancorp, Inc. | $504,000 | – | 24,380 | – | 0.03% | – |
| YRKB | New | York Traditions Bank | $459,000 | – | 38,237 | – | 0.03% | – |
| SOBS | New | Solvay Bank Corporation | $446,000 | – | 13,608 | – | 0.03% | – |
| AJSB | New | AJS Bancorp, Inc. | $440,000 | – | 29,500 | – | 0.03% | – |
| MNBP | New | Mars National Bancorp | $402,000 | – | 1,054 | – | 0.02% | – |
| LOB | New | Live Oak Bancshares | $353,000 | – | 25,000 | – | 0.02% | – |
| SCZC | New | Santa Cruz County Bank | $337,000 | – | 10,878 | – | 0.02% | – |
| HLAN | New | Heartland BancCorp | $334,000 | – | 6,080 | – | 0.02% | – |
| BAOB | New | Baraboo Bancorporation, Inc. | $328,000 | – | 187,645 | – | 0.02% | – |
| BKJ | New | Bancorp of New Jersey, Inc. | $265,000 | – | 22,716 | – | 0.02% | – |
| CENP | New | Centerpointe Community Bank | $262,000 | – | 31,200 | – | 0.02% | – |
| LPSB | New | La Porte Bancorp, Inc. | $247,000 | – | 15,100 | – | 0.01% | – |
| OPOF | New | Old Point Financial Corporation | $229,000 | – | 11,927 | – | 0.01% | – |
| TOWN | New | TowneBank | $217,000 | – | 10,000 | – | 0.01% | – |
| PCBC | New | Pacific Commerce Bancorp | $208,000 | – | 34,150 | – | 0.01% | – |
| New | Embassy Bancorp, Inc. | $169,000 | – | 16,093 | – | 0.01% | – | |
| SBAZ | New | State Bank Corp. | $135,000 | – | 21,100 | – | 0.01% | – |
| HBMD | New | Howard Bancorp, Inc. | $145,000 | – | 11,187 | – | 0.01% | – |
| CFIC | New | Cornerstone Financial | $112,000 | – | 93,071 | – | 0.01% | – |
Q4 2015
Q3 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| STBZ | Buy | State Bank Financial Corporation | $35,012,000 | -3.9% | 1,693,045 | +0.9% | 2.15% | -3.2% |
| MBWM | Sell | Mercantile Bank Corporation | $31,771,000 | -3.3% | 1,528,911 | -0.4% | 1.95% | -2.6% |
| LION | Buy | Fidelity Southern Corporation | $31,404,000 | +23.7% | 1,485,529 | +2.1% | 1.92% | +24.6% |
| SASR | Buy | Sandy Spring Bancorp Inc. | $30,020,000 | -5.2% | 1,146,693 | +1.3% | 1.84% | -4.6% |
| CSFL | Sell | CenterState Banks, Inc. | $29,625,000 | +8.3% | 2,015,273 | -0.5% | 1.82% | +9.1% |
| COBZ | Sell | CoBiz Financial Inc. | $26,021,000 | -1.7% | 2,000,073 | -1.2% | 1.60% | -1.0% |
| TSC | Buy | TriState Capital Holdings, Inc. | $25,118,000 | -0.4% | 2,014,277 | +3.3% | 1.54% | +0.3% |
| BPFH | Sell | Boston Private Financial Holdings, Inc. | $20,924,000 | -14.0% | 1,788,363 | -1.4% | 1.28% | -13.3% |
| HTBK | Buy | Heritage Commerce Corp | $20,573,000 | +28.6% | 1,814,232 | +9.0% | 1.26% | +29.5% |
| CPF | Sell | Central Pacific Financial Corp. | $18,604,000 | -20.8% | 887,166 | -10.3% | 1.14% | -20.3% |
| FRME | Sell | First Merchants Corp. | $17,667,000 | +0.8% | 673,780 | -5.0% | 1.08% | +1.6% |
| PSTB | Buy | Park Sterling Corp. | $17,501,000 | -3.5% | 2,573,730 | +2.2% | 1.07% | -2.8% |
| FBIZ | Buy | First Business Financial Services | $16,011,000 | +0.3% | 680,728 | +100.0% | 0.98% | +1.1% |
| EGBN | Sell | Eagle Bancorp, Inc. | $14,696,000 | -25.3% | 322,994 | -27.9% | 0.90% | -24.8% |
| BMRC | Sell | Bank of Marin Bancorp | $14,372,000 | -10.2% | 299,479 | -4.8% | 0.88% | -9.5% |
| OKSB | Sell | Southwest Bancorp, Inc. | $14,342,000 | -13.9% | 874,007 | -2.3% | 0.88% | -13.3% |
| WTBFB | Buy | W.T.B. Financial Corporation | $11,038,000 | +2.0% | 59,025 | +2.3% | 0.68% | +2.9% |
| IBKC | Sell | Iberiabank Corp | $10,509,000 | -21.2% | 180,534 | -7.7% | 0.64% | -20.7% |
| SONA | Buy | Southern National Bancorp of Virginia | $9,944,000 | +38.5% | 880,790 | +36.0% | 0.61% | +39.6% |
| PEBO | Buy | Peoples Bancorp Inc. | $9,735,000 | -9.0% | 468,231 | +2.2% | 0.60% | -8.3% |
| SBCF | Sell | Seacoast Banking Corporation of FL | $8,820,000 | -19.6% | 600,829 | -13.4% | 0.54% | -18.9% |
| TLMR | Buy | Talmer Bancorp, Inc. | $8,811,000 | +3.3% | 529,200 | +3.9% | 0.54% | +4.0% |
| BSRR | Buy | Sierra Bancorp | $7,832,000 | -6.5% | 490,735 | +1.4% | 0.48% | -5.9% |
| SBFC | Buy | Southeastern Bank Financial Corp. | $7,590,000 | +9.0% | 233,537 | +0.4% | 0.46% | +9.7% |
| SAMG | Buy | Silvercrest Asset Management Group | $7,426,000 | -18.0% | 686,959 | +6.7% | 0.46% | -17.4% |
| NWIN | Sell | NorthWest Indiana Bancorp | $6,841,000 | +7.4% | 229,951 | -4.2% | 0.42% | +8.0% |
| BNCN | New | BNC Bancorp | $6,779,000 | – | 304,926 | – | 0.42% | – |
| AVNU | Buy | Avenue Financial Holdings, Inc. | $6,702,000 | +9.6% | 507,700 | +4.7% | 0.41% | +10.5% |
| BYLK | Buy | Baylake Corp. | $6,622,000 | +26.5% | 467,968 | +13.1% | 0.41% | +27.3% |
| ASBI | Buy | Ameriana Bancorp | $6,476,000 | +149.7% | 281,550 | +131.2% | 0.40% | +151.3% |
| UBNK | Buy | United Financial Bancorp, Inc. | $6,336,000 | +3.4% | 485,486 | +6.6% | 0.39% | +4.0% |
| FNBG | Buy | FNB Bancorp | $6,150,000 | +3.2% | 217,715 | +2.3% | 0.38% | +3.9% |
| SYBT | Sell | Stock Yards Bancorp, Inc. | $6,031,000 | -9.3% | 165,915 | -5.7% | 0.37% | -8.6% |
| UCBI | Buy | United Community Banks, Inc. | $5,862,000 | +91.6% | 286,768 | +95.6% | 0.36% | +93.0% |
| SHBI | Buy | Shore Bancshares, Inc. | $5,634,000 | +8.0% | 579,608 | +4.8% | 0.34% | +8.8% |
| AHL | Buy | Aspen Insurance Holdings Limited | $5,530,000 | +3.3% | 119,012 | +6.5% | 0.34% | +4.0% |
| Buy | First Choice Bank | $5,480,000 | -7.5% | 353,542 | +0.0% | 0.34% | -6.7% | |
| OCBI | Sell | Orange County Bancorp | $5,482,000 | +3.2% | 110,743 | -2.0% | 0.34% | +4.0% |
| NBCT | Buy | Northwest Bancorporation, Inc. | $5,369,000 | +150.3% | 568,781 | +137.3% | 0.33% | +151.1% |
| CWBK | Sell | CommerceWest Bank | $5,139,000 | -7.2% | 367,102 | -3.2% | 0.32% | -6.5% |
| WAL | New | Western Alliance Bancorporation | $5,064,000 | – | 164,894 | – | 0.31% | – |
| FVCB | New | First Virginia Community Bank | $5,031,000 | – | 300,000 | – | 0.31% | – |
| SMBK | New | SmartFinancial, Inc. | $4,701,000 | – | 312,351 | – | 0.29% | – |
| BMTC | Buy | Bryn Mawr Bank Corporation | $4,597,000 | +5.1% | 147,952 | +2.1% | 0.28% | +6.0% |
| RVSB | Sell | Riverview Bancorp, Inc. | $4,563,000 | +3.0% | 960,564 | -7.2% | 0.28% | +3.7% |
| WTBA | Sell | West Bancorporation, Inc. | $4,548,000 | -8.9% | 242,578 | -3.6% | 0.28% | -8.2% |
| CABC | Sell | California Bank of Commerce | $4,507,000 | -0.8% | 323,986 | -3.0% | 0.28% | 0.0% |
| HIFS | Sell | Hingham Institution for Savings | $4,417,000 | -11.3% | 38,066 | -12.0% | 0.27% | -10.6% |
| RNST | New | Renasant Corporation | $4,383,000 | – | 133,413 | – | 0.27% | – |
| SDPB | Buy | San Diego Private Bank | $4,347,000 | +2.8% | 289,824 | +1.3% | 0.27% | +3.5% |
| ISTR | Buy | Investar Holding | $4,225,000 | +4.9% | 272,748 | +2.9% | 0.26% | +5.7% |
| PBNC | Buy | Paragon Commercial Corporation | $4,203,000 | +12.8% | 173,675 | +6.8% | 0.26% | +13.7% |
| HBNC | Buy | Horizon Bancorp | $4,197,000 | +80.4% | 176,712 | +89.7% | 0.26% | +81.0% |
| MSFG | Buy | MainSource Financial Group, Inc. | $4,185,000 | -2.7% | 205,564 | +4.9% | 0.26% | -1.9% |
| FGFH | Buy | Foresight Financial Group, Inc. | $4,186,000 | +27.2% | 175,133 | +21.8% | 0.26% | +28.5% |
| FFWM | New | First Foundation Inc. | $3,871,000 | – | 170,000 | – | 0.24% | – |
| CFCB | Buy | Centrue Financial Corporation | $3,809,000 | +13.5% | 224,038 | +0.1% | 0.23% | +14.7% |
| SOCB | Buy | Southcoast Financial Corporation | $3,812,000 | +75.2% | 285,960 | +11.8% | 0.23% | +77.3% |
| Buy | John Marshall Bank | $3,695,000 | +0.7% | 248,000 | +8.8% | 0.23% | +1.8% | |
| AUBN | Buy | Auburn National Bancorporation | $3,602,000 | +16.6% | 136,094 | +13.3% | 0.22% | +17.6% |
| PSBQ | Sell | PSB Holdings, Inc. | $3,598,000 | +0.7% | 81,779 | -1.6% | 0.22% | +1.8% |
| EBTC | Buy | Enterprise Bancorp, Inc. | $3,479,000 | -3.6% | 165,912 | +7.7% | 0.21% | -3.2% |
| PKBK | Buy | Parke Bancorp, Inc. | $3,462,000 | +0.4% | 273,676 | +1.9% | 0.21% | +1.0% |
| GFED | Buy | Guaranty Federal Bancshares, Inc. | $3,388,000 | +0.1% | 230,971 | +0.4% | 0.21% | +1.0% |
| CARE | Buy | Carter Bank & Trust | $3,258,000 | +10.7% | 258,558 | +10.7% | 0.20% | +11.7% |
| QNBC | Buy | QNB Corp. | $3,260,000 | +30.9% | 110,502 | +30.4% | 0.20% | +31.6% |
| LFGP | Buy | Ledyard Financial Group, Inc. | $3,202,000 | +76.6% | 58,214 | +57.3% | 0.20% | +78.2% |
| BFC | Buy | Bank First National Corporation | $3,169,000 | +5.0% | 131,756 | +5.2% | 0.19% | +5.4% |
| CHFC | Sell | Chemical Financial Corp. | $3,070,000 | -52.3% | 94,897 | -51.3% | 0.19% | -52.0% |
| AMRB | Buy | American River Bankshares | $3,067,000 | +24.5% | 318,808 | +20.6% | 0.19% | +25.3% |
| FXNC | Buy | First National Corporation | $3,052,000 | -15.9% | 367,720 | +0.9% | 0.19% | -15.4% |
| ORRF | Buy | Orrstown Financial Services, Inc | $2,979,000 | +5.1% | 176,684 | +0.8% | 0.18% | +5.8% |
| XBKS | Buy | Xenith Bankshares, Inc. | $2,952,000 | +10.4% | 461,932 | +3.8% | 0.18% | +11.0% |
| PRCB | Buy | Premier Commercial Bancorp | $2,936,000 | -5.2% | 501,848 | +3.7% | 0.18% | -4.8% |
| BHWB | Buy | Blackhawk Bancorp, Inc. | $2,939,000 | +20.5% | 179,193 | +14.2% | 0.18% | +21.6% |
| UVSP | Buy | Univest Corporation of Pennsylvania | $2,867,000 | -4.2% | 149,153 | +1.5% | 0.18% | -3.3% |
| FISI | Buy | Financial Institutions, Inc. | $2,831,000 | +27.7% | 114,261 | +28.0% | 0.17% | +28.9% |
| MCBC | Buy | Macatawa Bank Corporation | $2,820,000 | -0.1% | 544,320 | +2.1% | 0.17% | +0.6% |
| FBC | Buy | Flagstar Bancorp, Inc. | $2,753,000 | +50.6% | 133,900 | +35.4% | 0.17% | +52.3% |
| FBSS | Buy | Fauquier Bancshares, Inc. | $2,729,000 | -7.7% | 194,963 | +4.8% | 0.17% | -7.2% |
| CSHX | Buy | Cashmere Valley Bank | $2,668,000 | +24.0% | 71,148 | +25.1% | 0.16% | +25.2% |
| Buy | American Riviera Bank | $2,635,000 | +13.9% | 249,797 | +4.2% | 0.16% | +14.9% | |
| ABCB | Sell | Ameris Bancorp | $2,646,000 | -38.7% | 92,051 | -46.0% | 0.16% | -38.4% |
| MFGI | Buy | Merchants Financial Group, Inc. | $2,606,000 | +62.5% | 61,327 | +62.3% | 0.16% | +63.3% |
| Buy | First Security, Inc. | $2,593,000 | +3.3% | 112,742 | +4.9% | 0.16% | +3.9% | |
| FISB | Buy | 1st Capital Bank | $2,572,000 | +12.8% | 231,679 | +16.9% | 0.16% | +13.7% |
| GNBC | Buy | Green Bancorp, Inc. | $2,522,000 | -19.9% | 220,100 | +7.4% | 0.16% | -19.3% |
| WNRP | Buy | West Suburban Bancorp, Inc. | $2,513,000 | +9.4% | 6,527 | +5.2% | 0.15% | +10.0% |
| NWYF | Buy | Northway Financial, Inc. | $2,461,000 | +14.3% | 115,267 | +12.7% | 0.15% | +15.3% |
| FNRN | Buy | First Northern Community Bancorp | $2,416,000 | +28.2% | 303,941 | +23.4% | 0.15% | +28.7% |
| BFIN | Buy | BankFinancial Corporation | $2,404,000 | +118.5% | 193,376 | +107.1% | 0.15% | +119.4% |
| QNTO | Buy | Quaint Oak Bancorp | $2,076,000 | +11.6% | 173,000 | +100.0% | 0.13% | +12.4% |
| FNLC | Sell | The First Bancorp, Inc. | $2,009,000 | -10.2% | 105,200 | -8.5% | 0.12% | -9.6% |
| MN | Buy | Manning & Napier, Inc. | $1,977,000 | -23.1% | 268,603 | +4.1% | 0.12% | -22.9% |
| MSL | Buy | Midsouth Bancorp, Inc. | $1,965,000 | +2.4% | 167,910 | +33.5% | 0.12% | +2.6% |
| NBBC | Buy | NewBridge Bancorp | $1,919,000 | +43.2% | 225,000 | +50.0% | 0.12% | +43.9% |
| SBNC | Buy | Southern BancShares (N.C.), Inc. | $1,855,000 | +402.7% | 1,091 | +409.8% | 0.11% | +418.2% |
| CCNE | Buy | CNB Financial Corporation | $1,838,000 | +35.5% | 101,154 | +37.2% | 0.11% | +36.1% |
| RYFL | Buy | Royal Financial, Inc. | $1,713,000 | +6.2% | 187,185 | +4.5% | 0.10% | +7.1% |
| ESSA | Buy | ESSA Bancorp, Inc. | $1,700,000 | +13.7% | 131,207 | +12.8% | 0.10% | +14.3% |
| Buy | NI Bancshares Corporation | $1,679,000 | -1.5% | 46,496 | +2.5% | 0.10% | -1.0% | |
| CFST | Buy | Communities First Financial Corp. | $1,686,000 | +50.9% | 160,616 | +46.6% | 0.10% | +51.5% |
| PBCO | Buy | People's Bank of Commerce | $1,657,000 | +17.2% | 174,473 | +11.1% | 0.10% | +18.6% |
| CZFS | Buy | Citizens Financial Services | $1,663,000 | +4.2% | 34,538 | +6.0% | 0.10% | +5.2% |
| PGNN | Buy | Paragon Financial Solutions, Inc. | $1,616,000 | +31.3% | 221,312 | +39.4% | 0.10% | +32.0% |
| BVA | Buy | Cordia Bancorp Inc. | $1,562,000 | +11.0% | 435,235 | +18.5% | 0.10% | +11.6% |
| IALB | Buy | Independent Alliance Banks, Inc. | $1,553,000 | +8.5% | 59,170 | +9.5% | 0.10% | +9.2% |
| ACFC | Buy | Atlantic Coast Financial Corporation | $1,541,000 | +55.5% | 278,711 | +25.2% | 0.09% | +56.7% |
| CYSM | Buy | Community Bank of Santa Maria | $1,539,000 | +3.8% | 203,824 | +6.7% | 0.09% | +4.4% |
| HBKS | Buy | Heritage Bankshares, Inc. | $1,502,000 | +4.1% | 95,639 | +4.7% | 0.09% | +4.5% |
| BSCA | Buy | Bank of Santa Clarita | $1,438,000 | +7.2% | 152,930 | +6.6% | 0.09% | +7.3% |
| FETM | Buy | Fentura Financial, Inc. | $1,330,000 | +5.4% | 94,337 | +6.5% | 0.08% | +6.5% |
| BHB | Sell | Bar Harbor Bankshares | $1,325,000 | -28.6% | 41,408 | -21.0% | 0.08% | -28.3% |
| FGBI | Buy | First Guaranty Bancshares, Inc. | $1,301,000 | +8.1% | 67,912 | +3.0% | 0.08% | +9.6% |
| BUSE | New | First Busey Corporation | $1,285,000 | – | 64,668 | – | 0.08% | – |
| FCNH | Buy | First Colebrook Bancorp, Inc. | $1,267,000 | +3.8% | 60,627 | +4.5% | 0.08% | +5.4% |
| PBNK | Buy | Pinnacle Bank | $1,247,000 | -14.3% | 174,418 | +1.3% | 0.08% | -14.6% |
| MBVT | Buy | Merchants Bancshares, Inc. | $1,232,000 | +541.7% | 41,901 | +622.3% | 0.08% | +533.3% |
| CBCO | Buy | Coastal Banking Co., Inc. | $1,003,000 | +40.7% | 83,615 | +16.1% | 0.06% | +41.9% |
| DNBF | Sell | DNB Financial Corporation | $956,000 | -10.4% | 36,292 | -12.1% | 0.06% | -9.2% |
| NSBC | Sell | North State Bancorp | $942,000 | -9.4% | 98,614 | -10.7% | 0.06% | -7.9% |
| RCBC | Buy | River City Bank | $923,000 | -3.8% | 7,327 | +6.9% | 0.06% | -1.7% |
| BNK | New | C1 Financial, Inc. | $857,000 | – | 45,000 | – | 0.05% | – |
| PSBR | New | Pascack Bancorp, Inc. (arb) | $845,000 | – | 81,675 | – | 0.05% | – |
| CYFL | Buy | Century Financial Corporation | $836,000 | +1.7% | 59,738 | +3.9% | 0.05% | +2.0% |
| CBFV | Buy | CB Financial Services, Inc. | $770,000 | +296.9% | 36,401 | +274.1% | 0.05% | +291.7% |
| PFLC | Buy | Pacific Financial Corporation | $700,000 | +4.6% | 107,521 | +3.2% | 0.04% | +4.9% |
| FXCB | Sell | Fox Chase Bancorp, Inc. | $667,000 | -4.9% | 38,429 | -7.2% | 0.04% | -4.7% |
| COB | New | CommunityOne Bancorp | $660,000 | – | 60,700 | – | 0.04% | – |
| CUBN | Buy | Commerce Union Bancshares, Inc. | $624,000 | +8.7% | 46,950 | +18.6% | 0.04% | +8.6% |
| Buy | Foundation Bancorp, Inc. | $625,000 | +8.1% | 70,175 | +15.3% | 0.04% | +8.6% | |
| VBFC | Buy | Village Bank and Trust Financial Corp. | $596,000 | +7.0% | 28,917 | +2.4% | 0.04% | +8.8% |
| New | Birmingham Bloomfield Bancshares | $581,000 | – | 68,403 | – | 0.04% | – | |
| LOB | New | Live Oak Bancshares | $491,000 | – | 25,000 | – | 0.03% | – |
| BNNP | Buy | Bank of Napa, N.A. | $481,000 | +83.6% | 55,306 | +76.3% | 0.03% | +81.2% |
| BOTJ | Buy | Bank of the James Financial Group | $437,000 | +157.1% | 39,000 | +160.0% | 0.03% | +170.0% |
| MNBP | Buy | Mars National Bancorp | $421,000 | +93.1% | 1,054 | +100.8% | 0.03% | +100.0% |
| Sell | Embassy Bancorp, Inc. | $381,000 | -20.1% | 36,093 | -19.8% | 0.02% | -20.7% | |
| KTYB | New | Kentucky Bancshares, Inc. | $366,000 | – | 12,126 | – | 0.02% | – |
| PPFC | New | Pan Pacific Bank | $318,000 | – | 69,000 | – | 0.02% | – |
| BAOB | Buy | Baraboo Bancorporation, Inc. | $314,000 | -2.8% | 183,334 | +2.2% | 0.02% | -5.0% |
| FFHD | New | FirstAtlantic Financial Holdings, Inc. | $309,000 | – | 34,563 | – | 0.02% | – |
| ONB | Sell | Old National Bancorp | $238,000 | -63.5% | 17,121 | -62.1% | 0.02% | -62.5% |
| YRKB | Buy | York Traditions Bank | $241,000 | +15.9% | 20,700 | +20.5% | 0.02% | +15.4% |
| SOBS | New | Solvay Bank Corporation | $208,000 | – | 5,819 | – | 0.01% | – |
| BKJ | Buy | Bancorp of New Jersey, Inc. | $190,000 | +40.7% | 16,716 | +42.7% | 0.01% | +50.0% |
| TRCB | New | Two River Bancorp | $130,000 | – | 14,394 | – | 0.01% | – |
| SBAZ | New | State Bank Corp. | $127,000 | – | 21,100 | – | 0.01% | – |
| ORPB | Buy | Oregon Pacific Bancorp | $137,000 | +75.6% | 46,659 | +115.4% | 0.01% | +60.0% |
| SFBC | Exit | Sound Financial Bancorp | $0 | – | -1,619 | – | -0.00% | – |
| IBCP | Exit | Independent Bank Corporation | $0 | – | -37,698 | – | -0.03% | – |
| BUSE | Exit | First Busey Corporation | $0 | – | -83,000 | – | -0.03% | – |
| SQBK | Exit | Square 1 Financial, Inc. | $0 | – | -30,700 | – | -0.05% | – |
| Exit | First America Holdings Corporation | $0 | – | -106,250 | – | -0.05% | – | |
| COLB | Exit | Columbia Banking System, Inc. | $0 | – | -32,956 | – | -0.06% | – |
| INDB | Exit | Independent Bank Corp. | $0 | – | -23,119 | – | -0.07% | – |
| FCSB | Exit | Focus Business Bank | $0 | – | -89,941 | – | -0.10% | – |
| STL | Exit | Sterling Bancorp | $0 | – | -167,633 | – | -0.15% | – |
| Exit | Community Southern Holdings, Inc. | $0 | – | -214,389 | – | -0.15% | – | |
| PBNI | Exit | Peoples Bancorp, Inc. | $0 | – | -85,466 | – | -0.17% | – |
| 2206PS | Exit | Palmetto Bancshares, Inc. | $0 | – | -194,443 | – | -0.23% | – |
| FVCB | Exit | First Virginia Community Bank | $0 | – | -300,000 | – | -0.27% | – |
| CSBQ | Exit | Cornerstone Bancshares, Inc. | $0 | – | -1,249,406 | – | -0.30% | – |
| BBT | Exit | BB&T Corporation | $0 | – | -132,055 | – | -0.32% | – |
| BBNK | Exit | Bridge Capital Holdings | $0 | – | -251,559 | – | -0.46% | – |
| VYFC | Exit | Valley Financial Corporation | $0 | – | -409,480 | – | -0.53% | – |
| HBOS | Exit | Heritage Financial Group | $0 | – | -462,277 | – | -0.85% | – |
Q2 2015
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| EFSC | New | Enterprise Financial Services Corp | $37,164,000 | – | 1,632,141 | – | 2.26% | – |
| STBZ | New | State Bank Financial Corporation | $36,414,000 | – | 1,678,045 | – | 2.22% | – |
| MBWM | New | Mercantile Bank Corporation | $32,871,000 | – | 1,535,325 | – | 2.00% | – |
| SASR | New | Sandy Spring Bancorp Inc. | $31,675,000 | – | 1,132,075 | – | 1.93% | – |
| PGC | New | Peapack-Gladstone Financial Corporation | $29,420,000 | – | 1,324,019 | – | 1.79% | – |
| FMBI | New | First Midwest Bancorp, Inc. | $27,983,000 | – | 1,475,110 | – | 1.70% | – |
| CSFL | New | CenterState Banks, Inc. | $27,361,000 | – | 2,025,273 | – | 1.66% | – |
| SCNB | New | Suffolk Bancorp | $27,204,000 | – | 1,060,163 | – | 1.66% | – |
| COBZ | New | CoBiz Financial Inc. | $26,468,000 | – | 2,025,073 | – | 1.61% | – |
| LION | New | Fidelity Southern Corporation | $25,384,000 | – | 1,455,529 | – | 1.54% | – |
| TSC | New | TriState Capital Holdings, Inc. | $25,212,000 | – | 1,949,877 | – | 1.54% | – |
| CUNB | New | CU Bancorp | $24,944,000 | – | 1,125,614 | – | 1.52% | – |
| FNBCQ | New | First NBC Bank | $24,429,000 | – | 678,583 | – | 1.49% | – |
| BPFH | New | Boston Private Financial Holdings, Inc. | $24,317,000 | – | 1,813,363 | – | 1.48% | – |
| MBFI | New | MB Financial, Inc. | $23,695,000 | – | 688,021 | – | 1.44% | – |
| CPF | New | Central Pacific Financial Corp. | $23,493,000 | – | 989,166 | – | 1.43% | – |
| PCBK | New | Pacific Continental Corporation | $22,888,000 | – | 1,691,652 | – | 1.39% | – |
| BANR | New | Banner Corporation | $21,804,000 | – | 454,908 | – | 1.33% | – |
| WTFC | New | Wintrust Financial Corporation | $19,930,000 | – | 373,352 | – | 1.21% | – |
| EGBN | New | Eagle Bancorp, Inc. | $19,682,000 | – | 447,726 | – | 1.20% | – |
| PSTB | New | Park Sterling Corp. | $18,135,000 | – | 2,518,730 | – | 1.10% | – |
| CATC | New | Cambridge Bancorp | $17,876,000 | – | 389,026 | – | 1.09% | – |
| FRME | New | First Merchants Corp. | $17,519,000 | – | 709,280 | – | 1.07% | – |
| CBF | New | Capital Bank Financial Corp. | $17,312,000 | – | 595,524 | – | 1.05% | – |
| OKSB | New | Southwest Bancorp, Inc. | $16,656,000 | – | 895,007 | – | 1.01% | – |
| OSBC | New | Old Second Bancorp, Inc. | $16,337,000 | – | 2,475,284 | – | 0.99% | – |
| HFWA | New | Heritage Financial Corporation | $16,337,000 | – | 914,238 | – | 0.99% | – |
| BLMT | New | BSB Bancorp, Inc. | $16,086,000 | – | 727,546 | – | 0.98% | – |
| HTBK | New | Heritage Commerce Corp | $15,995,000 | – | 1,664,391 | – | 0.97% | – |
| BMRC | New | Bank of Marin Bancorp | $15,998,000 | – | 314,479 | – | 0.97% | – |
| FBIZ | New | First Business Financial Services | $15,956,000 | – | 340,364 | – | 0.97% | – |
| LBAI | New | Lakeland Bancorp, Inc. | $15,825,000 | – | 1,330,930 | – | 0.96% | – |
| SGBK | New | Stonegate Bank | $14,568,000 | – | 491,017 | – | 0.89% | – |
| HBOS | New | Heritage Financial Group | $13,952,000 | – | 462,277 | – | 0.85% | – |
| HEOP | New | Heritage Oaks Bancorp | $13,760,000 | – | 1,748,442 | – | 0.84% | – |
| UBSH | New | Union Bankshares Corporation | $13,487,000 | – | 580,351 | – | 0.82% | – |
| QCRH | New | QCR Holdings, Inc. | $13,379,000 | – | 614,835 | – | 0.81% | – |
| IBKC | New | Iberiabank Corp | $13,341,000 | – | 195,535 | – | 0.81% | – |
| NBHC | New | National Bank Holdings Corporation | $13,325,000 | – | 639,700 | – | 0.81% | – |
| SF | New | Stifel Financial Corp. | $12,477,000 | – | 216,096 | – | 0.76% | – |
| AMH | New | American Homes 4 Rent | $12,476,000 | – | 777,800 | – | 0.76% | – |
| WSBF | New | Waterstone Financial, Inc. | $11,146,000 | – | 844,368 | – | 0.68% | – |
| CVLY | New | Codorus Valley Bancorp, Inc. | $11,108,000 | – | 549,080 | – | 0.68% | – |
| SBCF | New | Seacoast Banking Corporation of Florida | $10,966,000 | – | 694,029 | – | 0.67% | – |
| WTBFB | New | W.T.B. Financial Corporation | $10,818,000 | – | 57,694 | – | 0.66% | – |
| METR | New | Metro Bancorp Inc. | $10,784,000 | – | 412,556 | – | 0.66% | – |
| PEBO | New | Peoples Bancorp Inc. | $10,695,000 | – | 458,231 | – | 0.65% | – |
| OLBK | New | Old Line Bancshares, Inc. | $10,591,000 | – | 666,496 | – | 0.64% | – |
| CVCY | New | Central Valley Community Bancorp | $10,527,000 | – | 889,895 | – | 0.64% | – |
| SFST | New | Southern First Bancshares, Inc. | $9,915,000 | – | 553,891 | – | 0.60% | – |
| SAMG | New | Silvercrest Asset Management Group Inc. | $9,056,000 | – | 644,076 | – | 0.55% | – |
| VYFC | New | Valley Financial Corporation | $8,746,000 | – | 409,480 | – | 0.53% | – |
| TLMR | New | Talmer Bancorp, Inc. | $8,529,000 | – | 509,200 | – | 0.52% | – |
| BSRR | New | Sierra Bancorp | $8,373,000 | – | 483,735 | – | 0.51% | – |
| FSGI | New | First Security Group, Inc. | $7,999,000 | – | 3,265,000 | – | 0.49% | – |
| AMBZ | New | American Business Bank | $7,689,000 | – | 264,219 | – | 0.47% | – |
| FBMS | New | First Bancshares, Inc. | $7,638,000 | – | 458,730 | – | 0.46% | – |
| FBNC | New | First Bancorp | $7,509,000 | – | 450,164 | – | 0.46% | – |
| BBNK | New | Bridge Capital Holdings | $7,496,000 | – | 251,559 | – | 0.46% | – |
| SONA | New | Southern National Bancorp of Virginia,Inc. | $7,178,000 | – | 647,829 | – | 0.44% | – |
| SCAF | New | Security California Bancorp | $7,148,000 | – | 492,955 | – | 0.44% | – |
| FCCY | New | 1st Constitution Bancorp | $7,022,000 | – | 618,685 | – | 0.43% | – |
| SBFC | New | Southeastern Bank Financial Corporation | $6,964,000 | – | 232,537 | – | 0.42% | – |
| SYBT | New | Stock Yards Bancorp, Inc. | $6,648,000 | – | 175,915 | – | 0.40% | – |
| LTXB | New | LegacyTexas Financial Group, Inc. | $6,465,000 | – | 214,072 | – | 0.39% | – |
| CHFC | New | Chemical Financial Corp. | $6,441,000 | – | 194,815 | – | 0.39% | – |
| NWIN | New | NorthWest Indiana Bancorp | $6,371,000 | – | 239,951 | – | 0.39% | – |
| UNTY | New | Unity Bancorp, Inc. | $6,224,000 | – | 635,725 | – | 0.38% | – |
| ESXB | New | Community Bankers Trust Corporation | $6,204,000 | – | 1,248,327 | – | 0.38% | – |
| UBNK | New | United Financial Bancorp, Inc. | $6,126,000 | – | 455,486 | – | 0.37% | – |
| AVNU | New | Avenue Financial Holdings, Inc. | $6,116,000 | – | 485,000 | – | 0.37% | – |
| FLIC | New | First of Long Island Corp. | $6,086,000 | – | 219,543 | – | 0.37% | – |
| FNBG | New | FNB Bancorp | $5,959,000 | – | 212,837 | – | 0.36% | – |
| New | First Choice Bank | $5,922,000 | – | 353,541 | – | 0.36% | – | |
| TCFC | New | Community Financial Corporation | $5,698,000 | – | 265,032 | – | 0.35% | – |
| WBBW | New | Westbury Bancorp, Inc. | $5,610,000 | – | 323,698 | – | 0.34% | – |
| CWBK | New | CommerceWest Bank | $5,535,000 | – | 379,102 | – | 0.34% | – |
| BCML | New | Bay Commercial Bank | $5,534,000 | – | 469,010 | – | 0.34% | – |
| HTH | New | Hilltop Holdings Inc. | $5,481,000 | – | 227,532 | – | 0.33% | – |
| MFNC | New | Mackinac Financial Corporation | $5,441,000 | – | 516,707 | – | 0.33% | – |
| AHL | New | Aspen Insurance Holdings Limited | $5,351,000 | – | 111,712 | – | 0.33% | – |
| BBT | New | BB&T Corporation | $5,323,000 | – | 132,055 | – | 0.32% | – |
| OCBI | New | Orange County Bancorp | $5,313,000 | – | 113,043 | – | 0.32% | – |
| AVBH | New | Avidbank Holdings, Inc. | $5,256,000 | – | 417,179 | – | 0.32% | – |
| BYLK | New | Baylake Corp. | $5,233,000 | – | 413,668 | – | 0.32% | – |
| CNOB | New | ConnectOne Bancorp, Inc. | $5,225,000 | – | 242,700 | – | 0.32% | – |
| SHBI | New | Shore Bancshares, Inc. | $5,215,000 | – | 553,037 | – | 0.32% | – |
| CHFN | New | Charter Financial Corporation | $5,105,000 | – | 411,395 | – | 0.31% | – |
| WTBA | New | West Bancorporation, Inc. | $4,991,000 | – | 251,578 | – | 0.30% | – |
| CSBQ | New | Cornerstone Bancshares, Inc. | $4,973,000 | – | 1,249,406 | – | 0.30% | – |
| YDKN | New | Yadkin Financial Corporation | $4,977,000 | – | 237,561 | – | 0.30% | – |
| HIFS | New | Hingham Institution for Savings | $4,980,000 | – | 43,266 | – | 0.30% | – |
| CFNL | New | Cardinal Financial Corporation | $4,931,000 | – | 226,278 | – | 0.30% | – |
| FCCO | New | First Community Corporation | $4,917,000 | – | 404,319 | – | 0.30% | – |
| MBTF | New | MBT Financial Corp. | $4,825,000 | – | 840,633 | – | 0.29% | – |
| DCBF | New | DCB Financial Corp | $4,746,000 | – | 654,559 | – | 0.29% | – |
| SFBS | New | ServisFirst Bancshares, Inc. | $4,531,000 | – | 120,600 | – | 0.28% | – |
| CABC | New | California Bank of Commerce | $4,542,000 | – | 333,986 | – | 0.28% | – |
| NODB | New | North Dallas Bank & Trust Co. | $4,516,000 | – | 71,687 | – | 0.28% | – |
| FVCB | New | First Virginia Community Bank | $4,500,000 | – | 300,000 | – | 0.27% | – |
| RVSB | New | Riverview Bancorp, Inc. | $4,432,000 | – | 1,035,564 | – | 0.27% | – |
| BMTC | New | Bryn Mawr Bank Corporation | $4,372,000 | – | 144,952 | – | 0.27% | – |
| FCB | New | FCB Financial Holdings, Inc. | $4,352,000 | – | 136,871 | – | 0.26% | – |
| OVLY | New | Oak Valley Bancorp | $4,329,000 | – | 439,508 | – | 0.26% | – |
| ABCB | New | Ameris Bancorp | $4,313,000 | – | 170,551 | – | 0.26% | – |
| MSFG | New | MainSource Financial Group, Inc. | $4,301,000 | – | 195,938 | – | 0.26% | – |
| SBBX | New | Sussex Bancorp | $4,260,000 | – | 353,488 | – | 0.26% | – |
| SDPB | New | San Diego Private Bank | $4,227,000 | – | 286,024 | – | 0.26% | – |
| BDGE | New | Bridge Bancorp Inc. | $4,083,000 | – | 152,965 | – | 0.25% | – |
| ISTR | New | Investar Holding | $4,028,000 | – | 265,000 | – | 0.24% | – |
| VCBP | New | Valley Commerce Bancorp | $3,966,000 | – | 257,503 | – | 0.24% | – |
| MNSB | New | MainStreet Bank | $3,914,000 | – | 383,726 | – | 0.24% | – |
| FCFP | New | First Community Financial Partners, Inc. | $3,860,000 | – | 598,508 | – | 0.24% | – |
| WFD | New | Westfield Financial Inc. | $3,837,000 | – | 524,933 | – | 0.23% | – |
| 2206PS | New | Palmetto Bancshares, Inc. | $3,844,000 | – | 194,443 | – | 0.23% | – |
| New | SBM Financial - Maine | $3,762,000 | – | 18,000 | – | 0.23% | – | |
| PBNC | New | Paragon Commercial Corporation | $3,725,000 | – | 162,675 | – | 0.23% | – |
| New | John Marshall Bank | $3,669,000 | – | 228,000 | – | 0.22% | – | |
| NECB | New | Northeast Community Bancorp, Inc. | $3,650,000 | – | 489,307 | – | 0.22% | – |
| FXNC | New | First National Corporation | $3,627,000 | – | 364,474 | – | 0.22% | – |
| EBTC | New | Enterprise Bancorp, Inc. | $3,610,000 | – | 154,016 | – | 0.22% | – |
| PSBQ | New | PSB Holdings, Inc. | $3,572,000 | – | 83,079 | – | 0.22% | – |
| PKBK | New | Parke Bancorp, Inc. | $3,447,000 | – | 268,676 | – | 0.21% | – |
| CNBKA | New | Century Bancorp, Inc. | $3,403,000 | – | 83,688 | – | 0.21% | – |
| GFED | New | Guaranty Federal Bancshares, Inc. | $3,386,000 | – | 230,000 | – | 0.21% | – |
| CFCB | New | Centrue Financial Corporation | $3,357,000 | – | 223,815 | – | 0.20% | – |
| OCFC | New | OceanFirst Financial Corp. | $3,328,000 | – | 178,451 | – | 0.20% | – |
| FMNB | New | Farmers National Banc Corp. | $3,319,000 | – | 402,250 | – | 0.20% | – |
| VABK | New | Virginia National Bankshares Corp. | $3,286,000 | – | 146,909 | – | 0.20% | – |
| FGFH | New | Foresight Financial Group, Inc. | $3,292,000 | – | 143,753 | – | 0.20% | – |
| RIVR | New | River Valley Bancorp | $3,236,000 | – | 139,597 | – | 0.20% | – |
| GNBC | New | Green Bancorp, Inc. | $3,149,000 | – | 205,000 | – | 0.19% | – |
| PRCB | New | Premier Commercial Bancorp | $3,098,000 | – | 483,998 | – | 0.19% | – |
| AUBN | New | Auburn National Bancorporation, Inc. | $3,090,000 | – | 120,094 | – | 0.19% | – |
| BWFG | New | Bankwell Financial Group, Inc. | $3,054,000 | – | 171,300 | – | 0.19% | – |
| UCBI | New | United Community Banks, Inc. | $3,060,000 | – | 146,604 | – | 0.19% | – |
| DHIL | New | Diamond Hill Investment Group, Inc. | $3,052,000 | – | 15,288 | – | 0.19% | – |
| BFC | New | Bank First National Corporation | $3,019,000 | – | 125,256 | – | 0.18% | – |
| UIHC | New | United Insurance Holdings Corp. | $3,005,000 | – | 193,369 | – | 0.18% | – |
| VBTX | New | Veritex Holdings, Inc. | $3,007,000 | – | 201,250 | – | 0.18% | – |
| UVSP | New | Univest Corporation of Pennsylvania | $2,992,000 | – | 146,947 | – | 0.18% | – |
| FBSS | New | Fauquier Bancshares, Inc. | $2,956,000 | – | 186,047 | – | 0.18% | – |
| CARE | New | Carter Bank & Trust | $2,943,000 | – | 233,558 | – | 0.18% | – |
| LSBK | New | Lake Shore Bancorp | $2,920,000 | – | 217,427 | – | 0.18% | – |
| PBNI | New | Peoples Bancorp, Inc. | $2,863,000 | – | 85,466 | – | 0.17% | – |
| ORRF | New | Orrstown Financial Services, Inc | $2,835,000 | – | 175,227 | – | 0.17% | – |
| MCBC | New | Macatawa Bank Corporation | $2,824,000 | – | 532,920 | – | 0.17% | – |
| EMCF | New | Emclaire Financial Corp. | $2,806,000 | – | 117,207 | – | 0.17% | – |
| PDOB | New | Presidio Bank | $2,782,000 | – | 222,562 | – | 0.17% | – |
| XBKS | New | Xenith Bankshares, Inc. | $2,674,000 | – | 444,932 | – | 0.16% | – |
| CBNK | New | Chicopee Bancorp, Inc. | $2,629,000 | – | 153,730 | – | 0.16% | – |
| ASBI | New | Ameriana Bancorp | $2,593,000 | – | 121,783 | – | 0.16% | – |
| MN | New | Manning & Napier, Inc. | $2,572,000 | – | 258,003 | – | 0.16% | – |
| FCNCA | New | First Citizens BancShares, Inc. | $2,578,000 | – | 9,801 | – | 0.16% | – |
| ANCX | New | Access National Corporation | $2,523,000 | – | 129,764 | – | 0.15% | – |
| CBKM | New | Consumers Bancorp, Inc. | $2,517,000 | – | 136,792 | – | 0.15% | – |
| New | First Security, Inc. | $2,509,000 | – | 107,442 | – | 0.15% | – | |
| New | Suncrest Bank | $2,517,000 | – | 305,063 | – | 0.15% | – | |
| FRBA | New | First Bank | $2,512,000 | – | 418,734 | – | 0.15% | – |
| NGHC | New | National General Holdings Corporation | $2,500,000 | – | 120,000 | – | 0.15% | – |
| New | Community Southern Holdings, Inc. | $2,491,000 | – | 214,389 | – | 0.15% | – | |
| QNBC | New | QNB Corp. | $2,491,000 | – | 84,712 | – | 0.15% | – |
| STL | New | Sterling Bancorp | $2,464,000 | – | 167,633 | – | 0.15% | – |
| TBK | New | Triumph Bancorp, Inc. | $2,472,000 | – | 188,000 | – | 0.15% | – |
| AMRB | New | American River Bankshares | $2,464,000 | – | 264,361 | – | 0.15% | – |
| BHWB | New | Blackhawk Bancorp, Inc. | $2,439,000 | – | 156,844 | – | 0.15% | – |
| FMBJ | New | First Menasha Bancshares, Inc. | $2,419,000 | – | 33,503 | – | 0.15% | – |
| PEBK | New | Peoples Bancorp of North Carolina, Inc. | $2,369,000 | – | 129,178 | – | 0.14% | – |
| GBNK | New | Guaranty Bancorp | $2,327,000 | – | 140,942 | – | 0.14% | – |
| HBNC | New | Horizon Bancorp | $2,326,000 | – | 93,176 | – | 0.14% | – |
| FRBK | New | Republic First Bancorp, Inc. | $2,328,000 | – | 670,900 | – | 0.14% | – |
| NCOM | New | National Commerce Corporation | $2,322,000 | – | 90,000 | – | 0.14% | – |
| New | American Riviera Bank | $2,313,000 | – | 239,697 | – | 0.14% | – | |
| WNRP | New | West Suburban Bancorp, Inc. | $2,297,000 | – | 6,207 | – | 0.14% | – |
| BOCH | New | Bank of Commerce Holdings | $2,285,000 | – | 398,751 | – | 0.14% | – |
| FISB | New | 1st Capital Bank | $2,280,000 | – | 198,221 | – | 0.14% | – |
| PUGB | New | Puget Sound Bank | $2,269,000 | – | 143,158 | – | 0.14% | – |
| New | Bank of Southern California, N. A. | $2,272,000 | – | 320,000 | – | 0.14% | – | |
| FNLC | New | The First Bancorp, Inc. | $2,236,000 | – | 115,000 | – | 0.14% | – |
| FISI | New | Financial Institutions, Inc. | $2,217,000 | – | 89,261 | – | 0.14% | – |
| SOCB | New | Southcoast Financial Corporation | $2,176,000 | – | 255,753 | – | 0.13% | – |
| NWYF | New | Northway Financial, Inc. | $2,154,000 | – | 102,320 | – | 0.13% | – |
| MCHB | New | Mechanics Bank | $2,144,000 | – | 80 | – | 0.13% | – |
| CSHX | New | Cashmere Valley Bank | $2,151,000 | – | 56,892 | – | 0.13% | – |
| NBCT | New | Northwest Bancorporation, Inc. | $2,145,000 | – | 239,654 | – | 0.13% | – |
| WFBI | New | WashingtonFirst Bankshares, Inc. | $2,106,000 | – | 125,299 | – | 0.13% | – |
| CSBK | New | Clifton Bancorp Inc. | $2,075,000 | – | 148,332 | – | 0.13% | – |
| TCBK | New | TriCo Bancshares | $2,047,000 | – | 85,118 | – | 0.12% | – |
| BKOR | New | Oak Ridge Financial Services, Inc. | $2,006,000 | – | 195,702 | – | 0.12% | – |
| MLVF | New | Malvern Bancorp, Inc. | $2,008,000 | – | 135,319 | – | 0.12% | – |
| TCBI | New | Texas Capital Bancshares, Inc. | $1,988,000 | – | 31,936 | – | 0.12% | – |
| GNW | New | Genworth Financial, Inc. | $1,967,000 | – | 259,822 | – | 0.12% | – |
| JRVR | New | James River Group Holdings, Ltd. | $1,940,000 | – | 75,000 | – | 0.12% | – |
| MSL | New | Midsouth Bancorp, Inc. | $1,919,000 | – | 125,757 | – | 0.12% | – |
| CART | New | Carolina Trust Bank | $1,912,000 | – | 372,714 | – | 0.12% | – |
| FNRN | New | First Northern Community Bancorp | $1,885,000 | – | 246,345 | – | 0.12% | – |
| EFSI | New | Eagle Financial Services Inc. | $1,853,000 | – | 78,851 | – | 0.11% | – |
| HFBC | New | HopFed Bancorp, Inc. | $1,861,000 | – | 157,300 | – | 0.11% | – |
| BHB | New | Bar Harbor Bankshares | $1,857,000 | – | 52,408 | – | 0.11% | – |
| QNTO | New | Quaint Oak Bancorp | $1,860,000 | – | 86,500 | – | 0.11% | – |
| FBC | New | Flagstar Bancorp, Inc. | $1,828,000 | – | 98,900 | – | 0.11% | – |
| LFGP | New | Ledyard Financial Group, Inc. | $1,813,000 | – | 37,004 | – | 0.11% | – |
| PVTB | New | PrivateBancorp, Inc. | $1,812,000 | – | 45,500 | – | 0.11% | – |
| FNHC | New | Federated National Holding Company | $1,791,000 | – | 74,000 | – | 0.11% | – |
| New | NI Bancshares Corporation | $1,705,000 | – | 45,343 | – | 0.10% | – | |
| BANC | New | Banc of California, Inc. | $1,694,000 | – | 123,204 | – | 0.10% | – |
| WASH | New | Washington Trust Bancorp, Inc. | $1,681,000 | – | 42,575 | – | 0.10% | – |
| New | Two Rivers Financial Group, Inc. | $1,671,000 | – | 72,487 | – | 0.10% | – | |
| New | First BancTrust Corporation | $1,668,000 | – | 102,940 | – | 0.10% | – | |
| IBTX | New | Independent Bank Group, Inc | $1,652,000 | – | 38,500 | – | 0.10% | – |
| CLBH | New | Carolina Bank Holdings, Inc. | $1,640,000 | – | 135,400 | – | 0.10% | – |
| FCSB | New | Focus Business Bank | $1,619,000 | – | 89,941 | – | 0.10% | – |
| RYFL | New | Royal Financial, Inc. | $1,613,000 | – | 179,182 | – | 0.10% | – |
| MFGI | New | Merchants Financial Group, Inc. | $1,604,000 | – | 37,781 | – | 0.10% | – |
| CZFS | New | Citizens Financial Services | $1,596,000 | – | 32,572 | – | 0.10% | – |
| FCOB | New | 1st Colonial Bancorp | $1,528,000 | – | 209,306 | – | 0.09% | – |
| ILII | New | Illini Corporation | $1,529,000 | – | 36,532 | – | 0.09% | – |
| FCVA | New | First Capital Bancorp, Inc. | $1,508,000 | – | 355,739 | – | 0.09% | – |
| ESSA | New | ESSA Bancorp, Inc. | $1,495,000 | – | 116,286 | – | 0.09% | – |
| FDEF | New | First Defiance Financial Corp. | $1,481,000 | – | 39,463 | – | 0.09% | – |
| CYSM | New | Community Bank of Santa Maria | $1,482,000 | – | 190,954 | – | 0.09% | – |
| PBNK | New | Pinnacle Bank | $1,455,000 | – | 172,218 | – | 0.09% | – |
| HBKS | New | Heritage Bankshares, Inc. | $1,443,000 | – | 91,319 | – | 0.09% | – |
| IALB | New | Independent Alliance Banks, Inc. | $1,431,000 | – | 54,013 | – | 0.09% | – |
| MVLY | New | Mission Valley Bancorp | $1,433,000 | – | 197,658 | – | 0.09% | – |
| SLCT | New | Select Bancorp, Inc. | $1,425,000 | – | 200,772 | – | 0.09% | – |
| PBCO | New | People's Bank of Commerce | $1,414,000 | – | 157,080 | – | 0.09% | – |
| BVA | New | Cordia Bancorp Inc. | $1,407,000 | – | 367,435 | – | 0.09% | – |
| IROQ | New | IF Bancorp, Inc. | $1,406,000 | – | 85,036 | – | 0.09% | – |
| New | HomeTown Bankshares Corporation | $1,400,000 | – | 180,618 | – | 0.08% | – | |
| New | Aquesta Financial Holdings, Inc. | $1,376,000 | – | 167,808 | – | 0.08% | – | |
| SCSG | New | SouthCrest Financial Group, Inc. | $1,370,000 | – | 251,400 | – | 0.08% | – |
| EVBS | New | Eastern Virginia Bankshares, Inc. | $1,357,000 | – | 215,078 | – | 0.08% | – |
| SBTB | New | SBT Bancorp, Inc. | $1,356,000 | – | 58,935 | – | 0.08% | – |
| CCNE | New | CNB Financial Corporation | $1,356,000 | – | 73,706 | – | 0.08% | – |
| BSCA | New | Bank of Santa Clarita | $1,341,000 | – | 143,430 | – | 0.08% | – |
| NBBC | New | NewBridge Bancorp | $1,340,000 | – | 150,000 | – | 0.08% | – |
| HFBL | New | Home Federal Bancorp, Inc. of Louisiana | $1,325,000 | – | 65,576 | – | 0.08% | – |
| IIBK | New | Idaho Independent Bank | $1,258,000 | – | 163,432 | – | 0.08% | – |
| FETM | New | Fentura Financial, Inc. | $1,262,000 | – | 88,588 | – | 0.08% | – |
| PGNN | New | Paragon Financial Solutions, Inc. | $1,231,000 | – | 158,812 | – | 0.08% | – |
| SOMC | New | Southern Michigan Bancorp Inc. | $1,210,000 | – | 52,630 | – | 0.07% | – |
| FCNH | New | First Colebrook Bancorp, Inc. | $1,221,000 | – | 58,027 | – | 0.07% | – |
| FGBI | New | First Guaranty Bancshares, Inc. | $1,203,000 | – | 65,912 | – | 0.07% | – |
| LKFN | New | Lakeland Financial Corporation | $1,132,000 | – | 26,092 | – | 0.07% | – |
| CFST | New | Communities First Financial Corporation | $1,117,000 | – | 109,552 | – | 0.07% | – |
| New | Sevier County Bancshares, Inc. | $1,100,000 | – | 110,000 | – | 0.07% | – | |
| BFIN | New | BankFinancial Corporation | $1,100,000 | – | 93,376 | – | 0.07% | – |
| INDB | New | Independent Bank Corp. | $1,084,000 | – | 23,119 | – | 0.07% | – |
| DNBF | New | DNB Financial Corporation | $1,067,000 | – | 41,292 | – | 0.06% | – |
| COLB | New | Columbia Banking System, Inc. | $1,072,000 | – | 32,956 | – | 0.06% | – |
| NSBC | New | North State Bancorp | $1,040,000 | – | 110,478 | – | 0.06% | – |
| MBCN | New | Middlefield Banc Corp. | $1,014,000 | – | 30,963 | – | 0.06% | – |
| AMFC | New | AMB Financial Corp. | $1,022,000 | – | 93,750 | – | 0.06% | – |
| CBWA | New | Commencement Bank | $994,000 | – | 75,000 | – | 0.06% | – |
| New | Professional Holding Corp. | $995,000 | – | 90,000 | – | 0.06% | – | |
| ACFC | New | Atlantic Coast Financial Corporation | $991,000 | – | 222,600 | – | 0.06% | – |
| RCBC | New | River City Bank | $959,000 | – | 6,852 | – | 0.06% | – |
| New | First America Holdings Corporation | $866,000 | – | 106,250 | – | 0.05% | – | |
| GLBZ | New | Glen Burnie Bancorp | $854,000 | – | 70,849 | – | 0.05% | – |
| PSBH | New | PSB Holdings | $854,000 | – | 105,486 | – | 0.05% | – |
| SQBK | New | Square 1 Financial, Inc. | $840,000 | – | 30,700 | – | 0.05% | – |
| TWCF | New | Town and Country Financial Corporation | $844,000 | – | 73,228 | – | 0.05% | – |
| CYFL | New | Century Financial Corporation | $822,000 | – | 57,512 | – | 0.05% | – |
| SAL | New | Salisbury Bancorp, Inc. | $780,000 | – | 24,606 | – | 0.05% | – |
| FSB | New | Franklin Financial Network, Inc. | $768,000 | – | 33,500 | – | 0.05% | – |
| PFBC | New | Preferred Bank | $739,000 | – | 24,600 | – | 0.04% | – |
| CBCO | New | Coastal Banking Co., Inc. | $713,000 | – | 72,015 | – | 0.04% | – |
| FXCB | New | Fox Chase Bancorp, Inc. | $701,000 | – | 41,429 | – | 0.04% | – |
| PFLC | New | Pacific Financial Corporation | $669,000 | – | 104,214 | – | 0.04% | – |
| LGHT | New | Lighthouse Bank | $655,000 | – | 45,479 | – | 0.04% | – |
| ICBK | New | County Bancorp, Inc. | $665,000 | – | 35,000 | – | 0.04% | – |
| ONB | New | Old National Bancorp | $652,000 | – | 45,121 | – | 0.04% | – |
| SOME | New | Somerset Trust Holding Company | $640,000 | – | 15,244 | – | 0.04% | – |
| JAXB | New | Jacksonville Bancorp, Inc. | $632,000 | – | 53,850 | – | 0.04% | – |
| CBOE | New | CBOE Holdings | $572,000 | – | 10,000 | – | 0.04% | – |
| New | Foundation Bancorp, Inc. | $578,000 | – | 60,880 | – | 0.04% | – | |
| CUBN | New | Commerce Union Bancshares, Inc. | $574,000 | – | 39,600 | – | 0.04% | – |
| SSBI | New | Summit State Bank | $564,000 | – | 43,000 | – | 0.03% | – |
| VBFC | New | Village Bank and Trust Financial Corp. | $557,000 | – | 28,250 | – | 0.03% | – |
| BUSE | New | First Busey Corporation | $545,000 | – | 83,000 | – | 0.03% | – |
| IBCP | New | Independent Bank Corporation | $511,000 | – | 37,698 | – | 0.03% | – |
| VLY | New | Valley National Bancorp, Inc. | $500,000 | – | 48,451 | – | 0.03% | – |
| New | Embassy Bancorp, Inc. | $477,000 | – | 45,000 | – | 0.03% | – | |
| SNBC | New | Sun Bancorp, Inc. | $469,000 | – | 24,380 | – | 0.03% | – |
| YCB | New | Your Community Bankshares, Inc. | $483,000 | – | 17,646 | – | 0.03% | – |
| SBNC | New | Southern BancShares (N.C.), Inc. | $369,000 | – | 214 | – | 0.02% | – |
| OPOF | New | Old Point Financial Corporation | $343,000 | – | 21,927 | – | 0.02% | – |
| FFNW | New | First Financial Northwest, Inc. | $351,000 | – | 28,200 | – | 0.02% | – |
| BAOB | New | Baraboo Bancorporation, Inc. | $323,000 | – | 179,455 | – | 0.02% | – |
| New | America California Bank | $336,000 | – | 33,000 | – | 0.02% | – | |
| KRNY | New | Kearny Financial Corp. | $311,000 | – | 27,884 | – | 0.02% | – |
| HLAN | New | Heartland BancCorp | $293,000 | – | 6,080 | – | 0.02% | – |
| BNNP | New | Bank of Napa, N.A. | $262,000 | – | 31,365 | – | 0.02% | – |
| CCFN | New | CCFNB Bancorp Inc. | $240,000 | – | 6,000 | – | 0.02% | – |
| CENP | New | Centerpointe Community Bank | $249,000 | – | 31,200 | – | 0.02% | – |
| CFIC | New | Cornerstone Financial | $228,000 | – | 93,071 | – | 0.01% | – |
| CNLB | New | CNLBancshares, Inc | $232,000 | – | 31,934 | – | 0.01% | – |
| MNBP | New | Mars National Bancorp | $218,000 | – | 525 | – | 0.01% | – |
| AJSB | New | AJS Bancorp, Inc. | $219,000 | – | 14,500 | – | 0.01% | – |
| YRKB | New | York Traditions Bank | $208,000 | – | 17,175 | – | 0.01% | – |
| MBVT | New | Merchants Bancshares, Inc. | $192,000 | – | 5,801 | – | 0.01% | – |
| CBFV | New | CB Financial Services, Inc. | $194,000 | – | 9,731 | – | 0.01% | – |
| HBMD | New | Howard Bancorp, Inc. | $157,000 | – | 11,187 | – | 0.01% | – |
| BNCL | New | Beneficial Mutual Bancorp, Inc. | $166,000 | – | 13,312 | – | 0.01% | – |
| BOTJ | New | Bank of the James Financial Group, Inc. | $170,000 | – | 15,000 | – | 0.01% | – |
| BKJ | New | Bancorp of New Jersey, Inc. | $135,000 | – | 11,716 | – | 0.01% | – |
| ORPB | New | Oregon Pacific Bancorp | $78,000 | – | 21,659 | – | 0.01% | – |
| CACB | New | Cascade Bancorp | $78,000 | – | 15,000 | – | 0.01% | – |
| SFBC | New | Sound Financial Bancorp | $34,000 | – | 1,619 | – | 0.00% | – |
Q4 2014
Q3 2014
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BPFH | Sell | Boston Private Financial Holdings, Inc. | $29,468,000 | -20.6% | 2,378,363 | -13.9% | 2.26% | -16.1% |
| EFSC | Buy | Enterprise Financial Services Corp | $26,254,000 | -3.9% | 1,570,214 | +3.8% | 2.01% | +1.6% |
| EGBN | Sell | Eagle Bancorp, Inc. | $23,756,000 | -7.6% | 746,584 | -2.0% | 1.82% | -2.3% |
| FMBI | Sell | First Midwest Bancorp, Inc. | $23,735,000 | -10.7% | 1,475,110 | -5.4% | 1.82% | -5.6% |
| COBZ | Buy | CoBiz Financial Inc. | $22,974,000 | +4.3% | 2,054,932 | +0.5% | 1.76% | +10.3% |
| STBZ | Buy | State Bank Financial Corporation | $22,956,000 | -0.9% | 1,413,551 | +3.1% | 1.76% | +4.7% |
| MBWM | Buy | Mercantile Bank Corporation | $22,720,000 | -15.8% | 1,192,626 | +1.2% | 1.74% | -10.9% |
| SASR | Buy | Sandy Spring Bancorp Inc. | $21,397,000 | -2.7% | 934,784 | +5.9% | 1.64% | +2.9% |
| CSFL | Sell | Centerstate Banks of Florida, Inc. | $20,255,000 | -7.6% | 1,956,973 | -0.0% | 1.55% | -2.3% |
| LION | Buy | Fidelity Southern Corporation | $20,048,000 | +7.7% | 1,463,329 | +2.1% | 1.54% | +13.9% |
| AMH | Sell | American Homes 4 Rent | $19,795,000 | -17.9% | 1,172,000 | -13.6% | 1.52% | -13.2% |
| MBFI | Sell | MB Financial, Inc. | $19,235,000 | -2.8% | 694,921 | -5.1% | 1.47% | +2.7% |
| CPF | Buy | Central Pacific Financial Corp. | $17,285,000 | +3.2% | 964,020 | +14.3% | 1.32% | +9.1% |
| BMRC | Buy | Bank of Marin Bancorp | $17,220,000 | +2.2% | 375,241 | +1.6% | 1.32% | +8.1% |
| WTFC | Sell | Wintrust Financial Corporation | $17,124,000 | -12.0% | 383,352 | -9.4% | 1.31% | -7.0% |
| PSTB | Buy | Park Sterling Corp. | $16,765,000 | +1.2% | 2,528,730 | +0.6% | 1.28% | +7.1% |
| OKSB | Sell | Southwest Bancorp, Inc. | $14,977,000 | -4.4% | 913,207 | -0.5% | 1.15% | +1.1% |
| BKYF | Sell | Bank Kentucky Financial | $14,794,000 | +6.1% | 320,012 | -20.2% | 1.13% | +12.2% |
| FRME | Sell | First Merchants Corp. | $14,335,000 | -4.8% | 709,280 | -0.4% | 1.10% | +0.6% |
| PGC | Buy | Peapack-Gladstone Financial Corporation | $13,915,000 | -14.7% | 795,166 | +3.4% | 1.07% | -9.8% |
| SGBK | Sell | Stonegate Bank | $12,644,000 | +1.2% | 491,017 | -1.0% | 0.97% | +7.0% |
| UBSH | Sell | Union Bankshares Corporation | $12,598,000 | -17.8% | 545,351 | -8.7% | 0.96% | -13.1% |
| BLMT | Buy | BSB Bancorp, Inc. | $12,485,000 | +29.5% | 677,812 | +20.6% | 0.96% | +36.9% |
| LBAI | Buy | Lakeland Bancorp, Inc. | $11,991,000 | -7.4% | 1,228,592 | +2.5% | 0.92% | -2.0% |
| HFWA | Sell | Heritage Financial Corporation | $11,250,000 | -2.0% | 710,212 | -0.4% | 0.86% | +3.6% |
| SF | Sell | Stifel Financial Corp. | $10,602,000 | -2.3% | 226,096 | -1.3% | 0.81% | +3.3% |
| OLBK | Buy | Old Line Bancshares, Inc. | $10,523,000 | -0.4% | 679,809 | +1.4% | 0.81% | +5.2% |
| SYBT | Sell | Stock Yards Bancorp, Inc. | $10,506,000 | -12.2% | 349,023 | -12.8% | 0.80% | -7.3% |
| CVLY | Buy | Codorus Valley Bancorp, Inc. | $10,363,000 | -2.9% | 506,724 | +0.3% | 0.79% | +2.7% |
| WTBFB | Buy | W.T.B. Financial Corporation | $8,778,000 | +2.3% | 49,875 | +0.4% | 0.67% | +8.2% |
| TSC | Buy | TriState Capital Holdings, Inc. | $8,638,000 | +5.8% | 952,407 | +64.9% | 0.66% | +11.8% |
| TCBI | Sell | Texas Capital Bancshares, Inc. | $8,120,000 | -0.2% | 140,772 | -6.6% | 0.62% | +5.4% |
| BSRR | Buy | Sierra Bancorp | $8,107,000 | +8.8% | 483,735 | +2.6% | 0.62% | +15.0% |
| QCRH | Buy | QCR Holdings, Inc. | $7,690,000 | +3.1% | 435,435 | +0.7% | 0.59% | +8.9% |
| SBCF | Sell | Seacoast Banking Corporation of Florida | $7,586,000 | -0.0% | 694,029 | -0.6% | 0.58% | +5.6% |
| GECR | Buy | Georgia-Carolina Bancshares, Inc. | $7,532,000 | +1.9% | 344,719 | +1.0% | 0.58% | +7.6% |
| SONA | Sell | Southern National Bancorp of Virginia,Inc. | $7,384,000 | +3.6% | 637,087 | -0.2% | 0.57% | +9.5% |
| Sell | 1st Enterprise Bank | $6,882,000 | -0.8% | 274,731 | -1.1% | 0.53% | +4.8% | |
| FSGI | Buy | First Security Group, Inc. | $6,465,000 | -0.0% | 3,265,000 | +9.6% | 0.50% | +5.5% |
| FBNC | Buy | First Bancorp | $6,314,000 | -0.9% | 394,122 | +13.5% | 0.48% | +4.8% |
| FBMS | Buy | First Bancshares, Inc. | $6,222,000 | +44.8% | 430,554 | +42.3% | 0.48% | +53.4% |
| ONB | New | Old National Bancorp | $6,203,000 | – | 478,260 | – | 0.48% | – |
| CXBT | Sell | Centrix Bank & Trust | $6,149,000 | -11.7% | 150,450 | -12.2% | 0.47% | -6.7% |
| CHFC | Buy | Chemical Financial Corp. | $6,050,000 | +23.1% | 225,000 | +28.6% | 0.46% | +30.3% |
| SCAF | Sell | Security California Bancorp | $5,176,000 | -7.3% | 492,955 | -2.0% | 0.40% | -2.0% |
| HVB | Buy | Hudson Valley Holding Corp. | $4,857,000 | +12.8% | 267,609 | +12.2% | 0.37% | +19.2% |
| TCFC | Buy | Community Financial Corporation | $4,845,000 | -8.3% | 233,700 | +5.0% | 0.37% | -3.1% |
| VYFC | Buy | Valley Financial Corporation | $4,827,000 | +18.7% | 394,010 | +26.4% | 0.37% | +25.4% |
| BCML | Buy | Bay Commercial Bank | $4,819,000 | +8.3% | 424,615 | +1.2% | 0.37% | +14.6% |
| NODB | Buy | North Dallas Bank & Trust Co. | $4,731,000 | +11.4% | 80,187 | +7.7% | 0.36% | +17.9% |
| UNTY | Buy | Unity Bancorp, Inc. | $4,677,000 | +30.2% | 485,679 | +25.5% | 0.36% | +37.7% |
| DCBF | Sell | DCB Financial Corp | $4,471,000 | -1.6% | 600,941 | -0.8% | 0.34% | +4.3% |
| IBKC | Sell | Iberiabank Corp | $4,438,000 | -33.2% | 71,004 | -26.0% | 0.34% | -29.3% |
| WTBA | Sell | West Bancorporation, Inc. | $4,318,000 | -9.6% | 305,578 | -2.6% | 0.33% | -4.3% |
| YDKN | Sell | Yadkin Financial Corporation | $4,314,000 | -67.4% | 237,561 | -66.2% | 0.33% | -65.5% |
| ESXB | Buy | Community Bankers Trust Corporation | $4,294,000 | +16.3% | 982,645 | +16.6% | 0.33% | +22.8% |
| CNOB | New | ConnectOne Bancorp, Inc. | $4,172,000 | – | 219,000 | – | 0.32% | – |
| RVSB | Sell | Riverview Bancorp, Inc. | $4,132,000 | +0.4% | 1,035,564 | -2.4% | 0.32% | +6.4% |
| 2206PS | Sell | Palmetto Bancshares, Inc. | $3,918,000 | -11.6% | 277,095 | -10.1% | 0.30% | -6.5% |
| OCBI | Buy | Orange County Bancorp | $3,670,000 | +5.8% | 91,743 | +5.3% | 0.28% | +12.0% |
| UVSP | Sell | Univest Corporation of Pennsylvania | $3,607,000 | -34.8% | 192,361 | -28.1% | 0.28% | -31.2% |
| IMCB | Sell | Intermountain Community Bancorp | $3,455,000 | -19.4% | 184,368 | -30.0% | 0.26% | -14.8% |
| VABK | Buy | Virginia National Bankshares Corp. | $3,427,000 | +10.8% | 146,909 | +9.3% | 0.26% | +17.4% |
| VCBP | Sell | Valley Commerce Bancorp | $3,345,000 | -0.4% | 224,219 | -0.5% | 0.26% | +5.3% |
| SIVB | Sell | SVB Financial Group | $3,318,000 | -57.9% | 29,600 | -56.2% | 0.25% | -55.5% |
| PSBQ | Sell | PSB Holdings, Inc. | $3,281,000 | -5.5% | 97,079 | -9.3% | 0.25% | -0.4% |
| BANC | Sell | Banc of California, Inc. | $3,247,000 | -25.3% | 279,194 | -30.0% | 0.25% | -21.0% |
| BWFG | Buy | Bankwell Financial Group, Inc. | $3,250,000 | +12.5% | 171,300 | +0.8% | 0.25% | +19.1% |
| HIFS | Buy | Hingham Institution for Savings | $3,234,000 | +2.9% | 39,652 | +0.1% | 0.25% | +8.8% |
| UBNK | Buy | United Financial Bancorp, Inc. | $3,151,000 | +58.1% | 248,287 | +68.8% | 0.24% | +67.4% |
| BHB | Sell | Bar Harbor Bankshares | $3,125,000 | -7.8% | 108,008 | -11.2% | 0.24% | -2.8% |
| FUBC | Sell | First United Bancorp | $3,110,000 | -29.0% | 365,042 | -28.1% | 0.24% | -24.9% |
| IBCP | Sell | Independent Bank Corporation | $3,086,000 | -35.2% | 258,900 | -30.0% | 0.24% | -31.6% |
| SFBS | Buy | ServisFirst Bancshares, Inc. | $3,041,000 | -0.0% | 105,600 | +200.0% | 0.23% | +5.9% |
| FXNC | Buy | First National Corporation | $2,989,000 | +3.5% | 364,474 | +0.8% | 0.23% | +9.6% |
| UIHC | Buy | United Insurance Holdings Corp. | $2,901,000 | -0.3% | 193,369 | +14.6% | 0.22% | +5.2% |
| FCB | New | FCB Financial Holdings, Inc. | $2,871,000 | – | 126,400 | – | 0.22% | – |
| RIVR | New | River Valley Bancorp | $2,842,000 | – | 132,500 | – | 0.22% | – |
| PEBO | New | Peoples Bancorp Inc. | $2,850,000 | – | 120,000 | – | 0.22% | – |
| EBTC | Sell | Enterprise Bancorp, Inc. | $2,801,000 | -11.6% | 148,661 | -3.3% | 0.22% | -6.5% |
| GFED | Buy | Guaranty Federal Bancshares, Inc. | $2,756,000 | +10.2% | 225,000 | +12.5% | 0.21% | +16.6% |
| SAMG | Buy | Silvercrest Asset Management Group Inc. | $2,724,000 | +129.5% | 200,000 | +189.9% | 0.21% | +143.0% |
| MBTF | Buy | MBT Financial Corp. | $2,708,000 | -0.3% | 566,536 | +14.1% | 0.21% | +5.6% |
| CFNL | Buy | Cardinal Financial Corporation | $2,646,000 | +4.6% | 155,030 | +13.1% | 0.20% | +10.9% |
| FRBK | Sell | Republic First Bancorp, Inc. | $2,610,000 | -25.6% | 670,900 | -3.6% | 0.20% | -21.3% |
| ORRF | Buy | Orrstown Financial Services, Inc | $2,511,000 | -0.2% | 153,979 | +1.2% | 0.19% | +5.5% |
| OCFC | Sell | OceanFirst Financial Corp. | $2,460,000 | -7.6% | 154,627 | -3.8% | 0.19% | -2.1% |
| FCCO | Sell | First Community Corporation | $2,431,000 | -13.3% | 228,509 | -13.2% | 0.19% | -8.4% |
| BNCL | Sell | Beneficial Mutual Bancorp, Inc. | $2,358,000 | -37.3% | 184,505 | -33.4% | 0.18% | -33.5% |
| XBKS | Buy | Xenith Bankshares, Inc. | $2,160,000 | +21.4% | 341,159 | +21.4% | 0.17% | +28.7% |
| FCFP | Buy | First Community Financial Partners, Inc. | $2,166,000 | +47.8% | 458,032 | +34.4% | 0.17% | +56.6% |
| CWBK | Sell | CommerceWest Bank | $2,134,000 | -23.7% | 152,444 | -22.3% | 0.16% | -19.2% |
| FNHC | Buy | Federated National Holding Company | $2,079,000 | +128.5% | 74,000 | +107.4% | 0.16% | +140.9% |
| BFC | Buy | Bank First National Corporation | $2,045,000 | +0.8% | 98,602 | +1.5% | 0.16% | +6.8% |
| PRCB | New | Premier Commercial Bancorp | $1,994,000 | – | 455,151 | – | 0.15% | – |
| PEBK | Buy | Peoples Bancorp of North Carolina, Inc. | $2,003,000 | +17.1% | 118,130 | +10.5% | 0.15% | +23.4% |
| GBNK | Sell | Guaranty Bancorp | $1,904,000 | -23.3% | 140,942 | -21.0% | 0.15% | -18.9% |
| UCBI | Buy | United Community Banks, Inc. | $1,837,000 | +1020.1% | 111,604 | +1016.0% | 0.14% | +1075.0% |
| IBTX | Sell | Independent Bank Group, Inc | $1,827,000 | -30.9% | 38,500 | -18.9% | 0.14% | -27.1% |
| SOCB | Buy | Southcoast Financial Corporation | $1,811,000 | +2.2% | 255,080 | +4.7% | 0.14% | +8.6% |
| ASBI | Buy | Ameriana Bancorp | $1,789,000 | +36.0% | 117,283 | +32.5% | 0.14% | +44.2% |
| CZFS | Sell | Citizens Financial Services | $1,778,000 | -10.7% | 33,555 | -8.2% | 0.14% | -5.6% |
| BDGE | Sell | Bridge Bancorp Inc. | $1,774,000 | -17.9% | 75,024 | -16.7% | 0.14% | -13.4% |
| FDEF | Sell | First Defiance Financial Corp. | $1,741,000 | -28.2% | 64,463 | -23.7% | 0.13% | -24.4% |
| FISB | Sell | 1st Capital Bank | $1,733,000 | +2.2% | 144,382 | -0.0% | 0.13% | +8.1% |
| CYSM | Buy | Community Bank of Santa Maria | $1,727,000 | +36.0% | 183,681 | +4.9% | 0.13% | +43.5% |
| Buy | American Riviera Bank | $1,695,000 | +28.0% | 173,879 | +30.7% | 0.13% | +35.4% | |
| FNRN | Buy | First Northern Community Bancorp | $1,689,000 | +7.2% | 223,695 | +7.1% | 0.13% | +13.2% |
| SBBX | New | Sussex Bancorp | $1,676,000 | – | 167,888 | – | 0.13% | – |
| LFGP | Sell | Ledyard Financial Group, Inc. | $1,651,000 | +13.5% | 33,020 | -2.4% | 0.13% | +21.0% |
| CARE | New | Carter Bank & Trust | $1,646,000 | – | 140,652 | – | 0.13% | – |
| Buy | Two Rivers Financial Group, Inc. | $1,613,000 | +64.8% | 72,487 | +70.2% | 0.12% | +74.6% | |
| ILII | Buy | Illini Corporation | $1,565,000 | +1.1% | 35,432 | +4.5% | 0.12% | +7.1% |
| CPBO | Buy | Capital Pacific Bancorp | $1,518,000 | +11.3% | 163,267 | +7.8% | 0.12% | +17.2% |
| WBBW | Buy | Westbury Bancorp, Inc. | $1,502,000 | +24.5% | 99,800 | +25.1% | 0.12% | +32.2% |
| FISI | Sell | Financial Institutions, Inc. | $1,450,000 | -10.9% | 64,485 | -7.2% | 0.11% | -5.9% |
| EVBS | Sell | Eastern Virginia Bankshares, Inc. | $1,398,000 | -46.3% | 224,800 | -44.7% | 0.11% | -43.4% |
| PBCO | Buy | People's Bank of Commerce | $1,361,000 | -1.7% | 144,800 | +1.4% | 0.10% | +4.0% |
| PUGB | Sell | Puget Sound Bank | $1,341,000 | +1.0% | 96,487 | -0.3% | 0.10% | +7.3% |
| Buy | Community Southern Holdings, Inc. | $1,333,000 | +152.5% | 163,589 | +158.6% | 0.10% | +168.4% | |
| WASH | Buy | Washington Trust Bancorp, Inc. | $1,315,000 | -5.6% | 39,875 | +5.3% | 0.10% | 0.0% |
| NBCT | Buy | Northwest Bancorporation, Inc. | $1,295,000 | +10.7% | 163,451 | +4.7% | 0.10% | +16.5% |
| SBTB | Buy | SBT Bancorp, Inc. | $1,279,000 | -3.1% | 58,935 | +1.3% | 0.10% | +2.1% |
| HBKS | Sell | Heritage Bankshares, Inc. | $1,277,000 | -8.4% | 83,390 | -8.8% | 0.10% | -3.0% |
| MFGI | Buy | Merchants Financial Group, Inc. | $1,166,000 | +9.9% | 30,881 | +3.3% | 0.09% | +15.6% |
| CSHX | Buy | Cashmere Valley Bank | $1,162,000 | +17.8% | 34,438 | +17.4% | 0.09% | +25.4% |
| FGFH | Buy | Foresight Financial Group, Inc. | $1,146,000 | +43.4% | 59,675 | +36.6% | 0.09% | +51.7% |
| FCOB | Buy | 1st Colonial Bancorp | $1,125,000 | +7.1% | 192,055 | +4.7% | 0.09% | +13.2% |
| HFBL | Buy | Home Federal Bancorp, Inc. of Louisiana | $1,105,000 | +4.0% | 57,425 | +5.5% | 0.08% | +10.4% |
| IALB | Buy | Independent Alliance Banks, Inc. | $1,105,000 | +158.8% | 47,413 | +164.1% | 0.08% | +174.2% |
| DNBF | Sell | DNB Financial Corporation | $1,100,000 | -0.1% | 51,292 | -1.0% | 0.08% | +5.0% |
| WNRP | Buy | West Suburban Bancorp, Inc. | $1,092,000 | +75.0% | 3,153 | +64.7% | 0.08% | +86.7% |
| Buy | HomeTown Bankshares Corporation | $1,081,000 | +4.5% | 171,618 | +3.7% | 0.08% | +10.7% | |
| PVTB | Buy | PrivateBancorp, Inc. | $1,062,000 | +37.9% | 35,500 | +34.0% | 0.08% | +44.6% |
| MNSB | Buy | MainStreet Bank | $1,038,000 | -1.5% | 129,751 | +4.6% | 0.08% | +5.3% |
| 7101PS | New | Peoples Federal Bancshares, Inc. | $1,020,000 | – | 50,980 | – | 0.08% | – |
| NWYF | Buy | Northway Financial, Inc. | $1,006,000 | +70.5% | 49,809 | +62.2% | 0.08% | +79.1% |
| BSCA | Buy | Bank of Santa Clarita | $989,000 | +23.0% | 109,891 | +25.8% | 0.08% | +31.0% |
| GLBZ | Buy | Glen Burnie Bancorp | $894,000 | +6.9% | 70,849 | +5.1% | 0.07% | +13.1% |
| WFBI | Buy | WashingtonFirst Bankshares, Inc. | $879,000 | +5.6% | 58,632 | +5.0% | 0.07% | +11.7% |
| FBC | Buy | Flagstar Bancorp, Inc. | $835,000 | +59.0% | 49,600 | +71.0% | 0.06% | +68.4% |
| RCBC | Buy | River City Bank | $767,000 | +3.1% | 6,852 | +1.3% | 0.06% | +9.3% |
| FETM | Buy | Fentura Financial, Inc. | $755,000 | +5.6% | 77,337 | +11.4% | 0.06% | +11.5% |
| BFIN | Buy | BankFinancial Corporation | $745,000 | +234.1% | 71,772 | +258.9% | 0.06% | +256.2% |
| Buy | Aquesta Financial Holdings, Inc. | $709,000 | +10.3% | 82,724 | +11.3% | 0.05% | +14.9% | |
| NSBC | Buy | North State Bancorp | $685,000 | +17.1% | 110,478 | +4.7% | 0.05% | +23.8% |
| BVA | New | Cordia Bancorp Inc. | $674,000 | – | 188,235 | – | 0.05% | – |
| ACFC | Sell | Atlantic Coast Financial Corporation | $647,000 | -20.3% | 158,700 | -20.6% | 0.05% | -15.3% |
| CYFL | Buy | Century Financial Corporation | $611,000 | +26.2% | 48,512 | +30.2% | 0.05% | +34.3% |
| BAOB | Buy | Baraboo Bancorporation, Inc. | $603,000 | +11.9% | 268,094 | +2.0% | 0.05% | +17.9% |
| CBCO | Buy | Coastal Banking Co., Inc. | $577,000 | +112.9% | 64,796 | +85.1% | 0.04% | +120.0% |
| PBNK | Buy | Pinnacle Bank | $571,000 | +28.6% | 78,240 | +17.1% | 0.04% | +37.5% |
| IIBK | Buy | Idaho Independent Bank | $563,000 | +96.9% | 79,488 | +100.0% | 0.04% | +104.8% |
| PPBI | Sell | Pacific Premier Bancorp, Inc. | $525,000 | -57.9% | 37,400 | -57.7% | 0.04% | -55.6% |
| LGHT | Buy | Lighthouse Bank | $504,000 | +34.0% | 42,179 | +30.4% | 0.04% | +44.4% |
| PGNN | Buy | Paragon Financial Solutions, Inc. | $505,000 | +10.3% | 85,518 | +10.6% | 0.04% | +18.2% |
| SNBC | Sell | Sun Bancorp, Inc. | $442,000 | -1.6% | 24,380 | -78.2% | 0.03% | +3.0% |
| CCNE | Sell | CNB Financial Corporation | $417,000 | -70.6% | 26,567 | -68.5% | 0.03% | -68.9% |
| FNB | New | F.N.B. Corporation | $395,000 | – | 32,968 | – | 0.03% | – |
| MVLY | Buy | Mission Valley Bancorp | $359,000 | +201.7% | 59,835 | +209.1% | 0.03% | +211.1% |
| OPOF | Sell | Old Point Financial Corporation | $323,000 | -34.2% | 21,927 | -31.3% | 0.02% | -30.6% |
| PNFP | Sell | Pinnacle Financial Partners, Inc. | $203,000 | -89.6% | 5,629 | -88.6% | 0.02% | -88.7% |
| FCSB | New | Focus Business Bank | $181,000 | – | 19,079 | – | 0.01% | – |
| BNNP | Buy | Bank of Napa, N.A. | $172,000 | +100.0% | 21,500 | +115.0% | 0.01% | +116.7% |
| BKJ | New | Bancorp of New Jersey, Inc. | $113,000 | – | 10,000 | – | 0.01% | – |
| BUSE | New | First Busey Corporation | $82,000 | – | 14,700 | – | 0.01% | – |
| NBBC | Exit | NewBridge Bancorp | $0 | – | -15,018 | – | -0.01% | – |
| FFBC | Exit | First Financial Bancorp. | $0 | – | -21,000 | – | -0.03% | – |
| CNLA | Exit | Community National Bank - Lakeway Area | $0 | – | -115,000 | – | -0.04% | – |
| RNST | Exit | Renasant Corporation | $0 | – | -26,195 | – | -0.06% | – |
| OBAF | Exit | OBA Financial Services, Inc. | $0 | – | -70,622 | – | -0.12% | – |
| Exit | United Community Banks | $0 | – | -101,604 | – | -0.12% | – | |
| CLBC | Exit | Columbia Commercial Bancorp | $0 | – | -397,728 | – | -0.13% | – |
| COLB | Exit | Columbia Banking System, Inc. | $0 | – | -70,396 | – | -0.13% | – |
| VSB | Exit | VantageSouth Bancshares, Inc. | $0 | – | -430,392 | – | -0.19% | – |
| CNOB | Exit | ConnectOne Bancorp, Inc. ( TO 6/30/14) | $0 | – | -65,000 | – | -0.24% | – |
| EBSB | Exit | Meridian Interstate Bancorp | $0 | – | -207,526 | – | -0.39% | – |
| CYN | Exit | City National Corp. | $0 | – | -76,132 | – | -0.42% | – |
| UBMI | Exit | United Bancorp, Inc. | $0 | – | -867,152 | – | -0.78% | – |
| BNCN | Exit | BNC Bancorp | $0 | – | -655,091 | – | -0.81% | – |
Q2 2014
Q4 2013
Q3 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| BPFH | Buy | Boston Private Financial Holdings, Inc. | $31,459,000 | +13.2% | 2,836,663 | +8.6% | 2.59% | +3.9% |
| VCBI | Sell | Virginia Commerce Bancorp, Inc. | $28,799,000 | +4.7% | 1,849,652 | -6.1% | 2.37% | -3.9% |
| STBZ | Sell | State Bank Financial Corporation | $28,053,000 | -0.8% | 1,767,665 | -6.1% | 2.31% | -9.0% |
| EGBN | Sell | Eagle Bancorp, Inc. | $26,326,000 | +18.9% | 930,569 | -6.0% | 2.17% | +9.1% |
| EFSC | Sell | Enterprise Financial Services Corp | $25,618,000 | +3.9% | 1,515,878 | -1.9% | 2.11% | -4.7% |
| MBFI | Sell | MB Financial, Inc. | $23,863,000 | +4.1% | 845,921 | -1.1% | 1.96% | -4.5% |
| PACW | Sell | PacWest Bancorp | $22,841,000 | -20.2% | 666,108 | -28.7% | 1.88% | -26.8% |
| COBZ | Sell | CoBiz Financial Inc. | $22,759,000 | +3.3% | 2,356,004 | -11.2% | 1.87% | -5.2% |
| LION | Buy | Fidelity Southern Corporation | $22,590,000 | +24.3% | 1,472,644 | +0.2% | 1.86% | +14.1% |
| AMH | New | American Homes 4 Rent | $21,996,000 | – | 1,362,000 | – | 1.81% | – |
| BANR | Sell | Banner Corporation | $20,198,000 | +6.9% | 529,308 | -5.4% | 1.66% | -1.9% |
| SF | Sell | Stifel Financial Corp. | $20,155,000 | -1.0% | 488,973 | -14.3% | 1.66% | -9.2% |
| SASR | Buy | Sandy Spring Bancorp Inc. | $19,475,000 | +9.0% | 837,999 | +1.4% | 1.60% | +0.1% |
| WTFC | Sell | Wintrust Financial Corporation | $19,180,000 | +2.6% | 467,018 | -4.4% | 1.58% | -5.9% |
| PCBK | Sell | Pacific Continental Corporation | $18,661,000 | +7.3% | 1,423,397 | -3.5% | 1.54% | -1.6% |
| BMRC | Sell | Bank of Marin Bancorp | $17,297,000 | -9.5% | 416,283 | -12.9% | 1.42% | -17.0% |
| UBSH | Buy | Union First Market Bankshares Corp. | $16,513,000 | +22.5% | 706,578 | +7.9% | 1.36% | +12.5% |
| PSTB | Sell | Park Sterling Corp. | $16,253,000 | +5.1% | 2,535,525 | -3.1% | 1.34% | -3.5% |
| OKSB | Buy | Southwest Bancorp, Inc. | $15,968,000 | +116.2% | 1,078,164 | +92.7% | 1.31% | +98.5% |
| CATC | Buy | Cambridge Bancorp | $14,537,000 | +8.9% | 378,950 | +11.6% | 1.20% | -0.1% |
| SGBK | Buy | Stonegate Bank | $14,503,000 | +20.4% | 690,636 | +2.1% | 1.19% | +10.5% |
| MBWM | Sell | Mercantile Bank Corporation | $14,223,000 | +20.3% | 653,053 | -0.8% | 1.17% | +10.4% |
| CPF | Buy | Central Pacific Financial Corp. | $13,390,000 | +15.4% | 756,499 | +17.3% | 1.10% | +6.0% |
| BNCN | Sell | BNC Bancorp | $12,695,000 | +16.0% | 951,665 | -0.7% | 1.04% | +6.5% |
| YDKN | Sell | Yadkin Financial Corporation | $12,286,000 | +17.4% | 713,066 | -4.3% | 1.01% | +7.8% |
| HTBK | Sell | Heritage Commerce Corp | $12,279,000 | +6.9% | 1,605,091 | -2.2% | 1.01% | -1.9% |
| CSFL | Buy | Centerstate Banks of Florida, Inc. | $12,200,000 | +26.3% | 1,260,332 | +13.3% | 1.00% | +15.9% |
| FNBCQ | Buy | First NBC Bank | $11,668,000 | +1.4% | 478,583 | +1.5% | 0.96% | -7.0% |
| HEOP | Sell | Heritage Oaks Bancorp | $11,433,000 | +2.6% | 1,786,467 | -1.1% | 0.94% | -5.8% |
| TCBI | Buy | Texas Capital Bancshares, Inc. | $10,898,000 | +18.4% | 237,472 | +14.5% | 0.90% | +8.7% |
| WBCO | Sell | Washington Banking Company | $10,759,000 | -17.5% | 765,230 | -16.7% | 0.88% | -24.4% |
| OLBK | Buy | Old Line Bancshares, Inc. | $10,419,000 | +26.9% | 776,366 | +24.7% | 0.86% | +16.4% |
| FBMI | Buy | Firstbank Corporation | $10,096,000 | +115.0% | 518,529 | +48.1% | 0.83% | +97.4% |
| CVBF | Sell | CVB Financial Corp. | $8,877,000 | +12.0% | 656,608 | -2.6% | 0.73% | +2.7% |
| BSRR | Sell | Sierra Bancorp | $8,862,000 | +1.1% | 563,407 | -4.9% | 0.73% | -7.3% |
| FSOF | Buy | First Southern Bancorp, Inc. | $8,809,000 | +30.0% | 1,601,703 | +9.9% | 0.72% | +19.2% |
| HFWA | Sell | Heritage Financial Corporation | $8,535,000 | +1.3% | 549,949 | -4.3% | 0.70% | -7.0% |
| METR | Sell | Metro Bancorp Inc. | $8,317,000 | +3.7% | 395,856 | -1.1% | 0.68% | -4.9% |
| CVCY | Buy | Central Valley Community Bancorp | $8,047,000 | +1.3% | 792,834 | +0.6% | 0.66% | -7.0% |
| BMTC | Sell | Bryn Mawr Bank Corporation | $7,719,000 | -1.7% | 286,210 | -12.7% | 0.64% | -9.8% |
| FCBN | Sell | First Citizens Bancorporation, Inc. | $7,696,000 | +2.2% | 11,859 | -0.8% | 0.63% | -6.2% |
| SONA | Sell | Southern National Bancorp of Virginia,Inc. | $7,442,000 | -3.7% | 772,012 | -2.3% | 0.61% | -11.7% |
| BKYF | Buy | Bank Kentucky Financial | $7,358,000 | +2.2% | 269,442 | +6.5% | 0.60% | -6.2% |
| BLMT | Buy | BSB Bancorp, Inc. | $6,881,000 | +11.1% | 491,140 | +4.2% | 0.57% | +2.0% |
| PGC | Buy | Peapack-Gladstone Financial Corporation | $6,826,000 | +20.7% | 367,988 | +13.8% | 0.56% | +10.8% |
| IBKC | Sell | Iberiabank Corp | $6,800,000 | -13.1% | 131,004 | -10.3% | 0.56% | -20.4% |
| BBNK | Buy | Bridge Capital Holdings | $6,730,000 | +9.8% | 396,323 | +2.6% | 0.55% | +0.9% |
| QCRH | Buy | QCR Holdings, Inc. | $6,490,000 | +3.3% | 408,461 | +0.5% | 0.53% | -5.2% |
| FLIC | Sell | First of Long Island Corp. | $6,386,000 | -8.6% | 164,373 | -21.9% | 0.52% | -16.1% |
| BANC | Buy | Banc of California, Inc. | $6,110,000 | +27.0% | 441,762 | +24.7% | 0.50% | +16.7% |
| WTBFB | Buy | W.T.B. Financial Corporation | $5,976,000 | +10.0% | 38,246 | +6.3% | 0.49% | +1.0% |
| NWIN | Buy | NorthWest Indiana Bancorp | $5,763,000 | +4.9% | 247,866 | +6.7% | 0.47% | -3.9% |
| BHB | Sell | Bar Harbor Bankshares | $5,709,000 | -0.3% | 155,183 | -1.0% | 0.47% | -8.4% |
| UVSP | Sell | Univest Corporation of Pennsylvania | $5,367,000 | -6.6% | 284,697 | -5.5% | 0.44% | -14.2% |
| SFST | Sell | Southern First Bancshares, Inc. | $5,193,000 | +14.3% | 393,404 | -4.8% | 0.43% | +4.9% |
| CVLY | Buy | Codorus Valley Bancorp, Inc. | $5,153,000 | +4.2% | 286,290 | +0.7% | 0.42% | -4.3% |
| SCAF | Sell | Security California Bancorp | $5,053,000 | -9.3% | 512,955 | -1.5% | 0.42% | -16.6% |
| UBMI | Sell | United Bancorp, Inc. | $4,998,000 | +24.1% | 735,008 | -1.5% | 0.41% | +13.9% |
| CWBK | Sell | CommerceWest Bank | $5,001,000 | -1.3% | 370,444 | -10.4% | 0.41% | -9.5% |
| HIFS | Sell | Hingham Institution for Savings | $4,957,000 | -0.2% | 70,900 | -3.1% | 0.41% | -8.3% |
| COLB | Sell | Columbia Banking System, Inc. | $4,950,000 | -45.6% | 200,396 | -47.6% | 0.41% | -50.1% |
| FCCY | Buy | 1st Constitution Bancorp | $4,914,000 | +12.6% | 464,467 | +1.1% | 0.40% | +3.3% |
| MFNC | Sell | Mackinac Financial Corporation | $4,809,000 | +1.8% | 528,509 | -0.6% | 0.40% | -6.4% |
| SCBT | New | First Financial Holdings, Inc. | $4,712,000 | – | 85,423 | – | 0.39% | – |
| TSC | Buy | TriState Capital Holdings, Inc. | $4,675,000 | +1600.0% | 362,700 | +1713.5% | 0.38% | +1440.0% |
| FNBG | Buy | FNB Bancorp | $4,638,000 | +22.0% | 201,648 | +7.9% | 0.38% | +12.0% |
| FCCO | Buy | First Community Corporation | $4,462,000 | +36.0% | 427,779 | +19.9% | 0.37% | +24.8% |
| WTBA | Buy | West Bancorporation, Inc. | $4,258,000 | +29.7% | 308,578 | +10.4% | 0.35% | +19.0% |
| HTH | Buy | Hilltop Holdings Inc. | $4,209,000 | +20.7% | 227,532 | +7.1% | 0.35% | +10.5% |
| DHIL | Sell | Diamond Hill Investment Group, Inc. | $4,202,000 | -27.5% | 39,288 | -42.0% | 0.35% | -33.3% |
| PSBQ | Sell | PSB Holdings, Inc. | $4,040,000 | -1.9% | 135,763 | -3.6% | 0.33% | -10.0% |
| RNST | New | Renasant Corporation | $3,819,000 | – | 140,542 | – | 0.31% | – |
| IBCP | New | Independent Bank Corporation | $3,750,000 | – | 375,000 | – | 0.31% | – |
| FUBC | Sell | First United Bancorp | $3,723,000 | +7.4% | 507,883 | -1.5% | 0.31% | -1.6% |
| FBNC | Sell | First Bancorp | $3,669,000 | -0.5% | 253,881 | -2.9% | 0.30% | -8.8% |
| NODB | Buy | North Dallas Bank & Trust Co. | $3,620,000 | +12.4% | 74,487 | +7.6% | 0.30% | +3.1% |
| HVB | Buy | Hudson Valley Holding Corp. | $3,577,000 | +70.6% | 190,470 | +54.3% | 0.29% | +56.4% |
| OCFC | Buy | OceanFirst Financial Corp. | $3,565,000 | +15.3% | 210,826 | +6.0% | 0.29% | +5.8% |
| FVCB | New | First Virginia Community Bank | $3,420,000 | – | 240,000 | – | 0.28% | – |
| BOCH | Sell | Bank of Commerce Holdings | $3,342,000 | +4.9% | 582,218 | -7.9% | 0.28% | -3.8% |
| MSFG | Buy | MainSource Financial Group, Inc. | $3,317,000 | +37.9% | 218,389 | +21.9% | 0.27% | +26.4% |
| LKFN | Sell | Lakeland Financial Corporation | $3,177,000 | -43.7% | 97,292 | -52.2% | 0.26% | -48.4% |
| VCBP | Sell | Valley Commerce Bancorp | $3,155,000 | +3.6% | 227,789 | -3.8% | 0.26% | -4.8% |
| GECR | Buy | Georgia-Carolina Bancshares, Inc. | $3,063,000 | +7.2% | 201,489 | +6.8% | 0.25% | -1.6% |
| MFLR | Buy | Mayflower Bancorp, Inc. | $2,969,000 | +18.8% | 154,735 | +14.8% | 0.24% | +8.9% |
| AMBZ | Buy | American Business Bank | $2,956,000 | +5.2% | 102,637 | +1.4% | 0.24% | -3.6% |
| CNBKA | Buy | Century Bancorp, Inc. | $2,889,000 | +43.6% | 86,688 | +50.8% | 0.24% | +32.2% |
| BNCL | Buy | Beneficial Mutual Bancorp, Inc. | $2,863,000 | +30.5% | 287,158 | +10.0% | 0.24% | +19.8% |
| GSCB | Sell | Greater Sacramento Bancorp | $2,813,000 | -3.1% | 180,345 | -0.6% | 0.23% | -11.2% |
| FBMS | New | First Bancshares, Inc. | $2,800,000 | – | 200,000 | – | 0.23% | – |
| CHFC | New | Chemical Financial Corp. | $2,792,000 | – | 100,000 | – | 0.23% | – |
| OVLY | Buy | Oak Valley Bancorp | $2,617,000 | +5.1% | 328,746 | +1.3% | 0.22% | -3.6% |
| AUBN | Buy | Auburn National Bancorporation, Inc. | $2,486,000 | +17.8% | 101,874 | +6.2% | 0.20% | +8.5% |
| FRBK | Sell | Republic First Bancorp, Inc. | $2,377,000 | -3.6% | 745,000 | -13.9% | 0.20% | -11.3% |
| MCBI | Buy | MetroCorp Bancshares-TX | $2,156,000 | +593.2% | 156,900 | +391.8% | 0.18% | +532.1% |
| FDEF | Sell | First Defiance Financial Corp. | $2,069,000 | +1.4% | 88,463 | -2.2% | 0.17% | -7.1% |
| FBSS | Buy | Fauquier Bancshares, Inc. | $2,052,000 | +7.7% | 157,629 | +0.3% | 0.17% | -1.2% |
| ESXB | New | Community Bankers Trust Corporation | $2,046,000 | – | 555,865 | – | 0.17% | – |
| LPS | Sell | Lender Processing Services, Inc. | $2,029,000 | -59.8% | 61,000 | -60.9% | 0.17% | -63.1% |
| ORRF | Buy | Orrstown Financial Services, Inc | $2,026,000 | +48.2% | 116,079 | +7.7% | 0.17% | +35.8% |
| ANCX | Sell | Access National Corporation | $1,992,000 | +6.1% | 139,664 | -3.5% | 0.16% | -2.4% |
| DNBF | Buy | DNB Financial Corporation | $1,926,000 | +20.0% | 91,889 | +1.4% | 0.16% | +9.7% |
| OSBC | Buy | Old Second Bancorp, Inc. | $1,891,000 | +20.8% | 332,250 | +17.1% | 0.16% | +11.4% |
| FMNB | Buy | Farmers National Banc Corp. | $1,797,000 | +17.1% | 284,713 | +16.5% | 0.15% | +7.2% |
| SBTB | Buy | SBT Bancorp, Inc. | $1,717,000 | -10.4% | 68,660 | +1.3% | 0.14% | -18.0% |
| VABK | Buy | Virginia National Bank | $1,487,000 | +17.6% | 87,452 | +15.9% | 0.12% | +8.0% |
| QNTO | Buy | Quaint Oak Bancorp | $1,401,000 | +139.1% | 86,500 | +137.0% | 0.12% | +117.0% |
| BYLK | Sell | Baylake Corp. | $1,368,000 | -2.0% | 129,100 | -9.8% | 0.11% | -9.6% |
| SCSG | Buy | SouthCrest Financial Group, Inc. | $1,370,000 | +155.1% | 251,400 | +150.4% | 0.11% | +135.4% |
| PUGB | Buy | Puget Sound Bank | $1,360,000 | +34.1% | 96,787 | +21.2% | 0.11% | +23.1% |
| LBAI | Sell | Lakeland Bancorp, Inc. | $1,336,000 | -38.1% | 118,799 | -42.6% | 0.11% | -43.0% |
| PNFP | Sell | Pinnacle Financial Partners, Inc. | $1,220,000 | -32.3% | 40,929 | -41.6% | 0.10% | -38.3% |
| PPBI | Sell | Pacific Premier Bancorp, Inc. | $1,188,000 | +6.3% | 88,500 | -3.3% | 0.10% | -2.0% |
| CSBK | Buy | Clifton Savings Bancorp Inc. | $1,172,000 | +24.3% | 94,600 | +18.8% | 0.10% | +12.9% |
| NOVB | Sell | North Valley Bancorp | $1,081,000 | -2.8% | 57,191 | -14.9% | 0.09% | -11.0% |
| VSB | New | VantageSouth Bancshares, Inc. | $1,062,000 | – | 200,000 | – | 0.09% | – |
| CNBC | Sell | Center Bancorp, Inc. | $1,023,000 | -60.6% | 71,850 | -64.9% | 0.08% | -63.9% |
| SAMG | New | Silvercrest Asset Management Group Inc. | $940,000 | – | 69,000 | – | 0.08% | – |
| WAL | Sell | Western Alliance Bancorporation | $860,000 | -16.9% | 45,412 | -30.6% | 0.07% | -23.7% |
| AEL | Sell | American Equity Investment Life Holding | $817,000 | -10.4% | 38,500 | -33.7% | 0.07% | -18.3% |
| TWCF | Buy | Town and Country Financial Corporation | $803,000 | +12.0% | 75,355 | +8.2% | 0.07% | +3.1% |
| MBVT | Sell | Merchants Bancshares, Inc. | $701,000 | -21.4% | 24,217 | -19.7% | 0.06% | -27.5% |
| FCOB | Buy | 1st Colonial Bancorp | $708,000 | +31.8% | 111,824 | +22.7% | 0.06% | +20.8% |
| OPOF | Sell | Old Point Financial Corporation | $651,000 | -45.7% | 50,054 | -45.3% | 0.05% | -49.5% |
| SAL | Buy | Salisbury Bancorp, Inc. | $590,000 | +8.3% | 22,606 | +7.8% | 0.05% | 0.0% |
| HAFC | Sell | Hanmi Financial Corporation | $579,000 | -89.2% | 34,938 | -88.4% | 0.05% | -90.0% |
| RCBC | Buy | River City Bank | $577,000 | +23.6% | 5,659 | +18.2% | 0.05% | +11.9% |
| FCVA | Buy | First Capital Bancorp, Inc. | $565,000 | +1348.7% | 141,514 | +1129.1% | 0.05% | +1433.3% |
| CART | Buy | Carolina Trust Bank | $538,000 | +581.0% | 183,592 | +468.4% | 0.04% | +528.6% |
| SOCB | New | Southcoast Financial Corporation | $520,000 | – | 90,457 | – | 0.04% | – |
| BAOB | Buy | Baraboo Bancorporation, Inc. | $503,000 | +48.4% | 245,315 | +2.1% | 0.04% | +36.7% |
| FNB | Sell | F.N.B. Corporation | $503,000 | -65.7% | 41,461 | -65.9% | 0.04% | -68.9% |
| PFBC | New | Preferred Bank | $491,000 | – | 27,600 | – | 0.04% | – |
| SSBI | New | Summit State Bank | $402,000 | – | 43,000 | – | 0.03% | – |
| PMBC | New | Pacific Mercantile Bancorp | $214,000 | – | 34,450 | – | 0.02% | – |
| WFD | New | Westfield Financial Inc. | $177,000 | – | 25,000 | – | 0.02% | – |
| ASBI | New | Ameriana Bancorp | $172,000 | – | 13,354 | – | 0.01% | – |
| BKOR | New | Oak Ridge Financial Services, Inc. | $92,000 | – | 21,675 | – | 0.01% | – |
| ORPB | Buy | Oregon Pacific Bancorp | $70,000 | -1.4% | 21,659 | +10.7% | 0.01% | 0.0% |
| New | CBOE Holdings - sold shortput | $3,000 | – | 30 | – | 0.00% | – | |
| WASH | Exit | Washington Trust Bancorp, Inc. | $0 | – | -400 | – | -0.00% | – |
| CMSB | Exit | CMS Bancorp, Inc. | $0 | – | -750 | – | -0.00% | – |
| SFBC | Exit | Sound Financial Bancorp | $0 | – | -1,619 | – | -0.00% | – |
| CLBH | Exit | Carolina Bank Holdings, Inc. | $0 | – | -5,000 | – | -0.01% | – |
| SCBT | Exit | SCBT Financial Corporation | $0 | – | -24,505 | – | -0.11% | – |
| VLY | Exit | Valley National Bancorp, Inc. | $0 | – | -157,466 | – | -0.13% | – |
| KCG | Exit | Knight Capital Group | $0 | – | -483,219 | – | -0.16% | – |
| TMP | Exit | Tompkins Financial Corporation | $0 | – | -39,142 | – | -0.16% | – |
| INDB | Exit | Independent Bank Corp. | $0 | – | -76,073 | – | -0.24% | – |
| FMFC | Exit | First M&F Corporation | $0 | – | -252,786 | – | -0.36% | – |
| SUSQ | Exit | Susquehanna Bancshares, Inc. | $0 | – | -325,124 | – | -0.38% | – |
| FFCH | Exit | First Financial Holdings | $0 | – | -319,786 | – | -0.61% | – |
Q2 2013
| Value | Shares | ↓ Weighting | ||||||
|---|---|---|---|---|---|---|---|---|
| PACW | New | PacWest Bancorp | $28,626,000 | – | 933,951 | – | 2.57% | – |
| STBZ | New | State Bank Financial Corp. | $28,289,000 | – | 1,882,179 | – | 2.54% | – |
| BPFH | New | Boston Private Financial Holdings | $27,788,000 | – | 2,611,663 | – | 2.49% | – |
| VCBI | New | Virginia Commerce Bancorp, Inc. | $27,494,000 | – | 1,969,452 | – | 2.46% | – |
| EFSC | New | Enterprise Financial Services | $24,658,000 | – | 1,545,013 | – | 2.21% | – |
| MBFI | New | MB Financial, Inc. | $22,933,000 | – | 855,721 | – | 2.06% | – |
| EGBN | New | Eagle Bancorp, Inc. | $22,147,000 | – | 989,571 | – | 1.98% | – |
| COBZ | New | CoBiz Financial Inc. | $22,032,000 | – | 2,654,425 | – | 1.98% | – |
| SF | New | Stifel Financial Corp. | $20,363,000 | – | 570,869 | – | 1.82% | – |
| FMBI | New | First Midwest Bancorp, Inc. | $20,071,000 | – | 1,462,910 | – | 1.80% | – |
| BMRC | New | Bank of Marin Bancorp | $19,121,000 | – | 478,030 | – | 1.71% | – |
| BANR | New | Banner Corporation | $18,899,000 | – | 559,308 | – | 1.69% | – |
| WTFC | New | Wintrust Financial Corporation | $18,703,000 | – | 488,583 | – | 1.68% | – |
| LION | New | Fidelity Southern Corporation | $18,172,000 | – | 1,469,005 | – | 1.63% | – |
| SASR | New | Sandy Spring Bancorp Inc. | $17,860,000 | – | 826,099 | – | 1.60% | – |
| PCBK | New | Pacific Continental Corporation | $17,398,000 | – | 1,474,397 | – | 1.56% | – |
| SCNB | New | Suffolk Bancorp | $17,053,000 | – | 1,043,643 | – | 1.53% | – |
| NBHC | New | National Bank Holdings Corp. | $15,971,000 | – | 810,700 | – | 1.43% | – |
| PSTB | New | Park Sterling Corp. | $15,458,000 | – | 2,615,525 | – | 1.39% | – |
| FRME | New | First Merchants Corp. | $13,480,000 | – | 786,024 | – | 1.21% | – |
| UBSH | New | Union First Market Bankshares | $13,478,000 | – | 654,578 | – | 1.21% | – |
| CATC | New | Cambridge Bancorp | $13,350,000 | – | 339,696 | – | 1.20% | – |
| WBCO | New | Washington Banking Company | $13,049,000 | – | 918,952 | – | 1.17% | – |
| CUNB | New | CU Bancorp | $12,626,000 | – | 799,102 | – | 1.13% | – |
| SGBK | New | Stonegate Bank | $12,044,000 | – | 676,636 | – | 1.08% | – |
| MBWM | New | Mercantile Bank Corporation | $11,825,000 | – | 658,053 | – | 1.06% | – |
| CPF | New | Central Pacific Financial Corp. | $11,605,000 | – | 644,710 | – | 1.04% | – |
| FNBCQ | New | First NBC Bank | $11,507,000 | – | 471,617 | – | 1.03% | – |
| HTBK | New | Heritage Commerce Corp | $11,489,000 | – | 1,641,291 | – | 1.03% | – |
| HEOP | New | Heritage Oaks Bancorp | $11,146,000 | – | 1,806,467 | – | 1.00% | – |
| BNCN | New | BNC Bancorp | $10,940,000 | – | 957,992 | – | 0.98% | – |
| New | Capital Bank Financial Corp. | $10,661,000 | – | 560,524 | – | 0.96% | – | |
| YDKN | New | Yadkin Financial Corporation | $10,466,000 | – | 745,466 | – | 0.94% | – |
| CSFL | New | Centerstate Banks of Florida | $9,656,000 | – | 1,112,432 | – | 0.87% | – |
| SBCF | New | Seacoast Banking Corp. of Florida | $9,547,000 | – | 4,339,571 | – | 0.86% | – |
| TCBI | New | Texas Capital Bancshares, Inc. | $9,203,000 | – | 207,472 | – | 0.82% | – |
| COLB | New | Columbia Banking System, Inc. | $9,098,000 | – | 382,096 | – | 0.82% | – |
| FBIZ | New | First Business Financial Services | $9,021,000 | – | 301,000 | – | 0.81% | – |
| BSRR | New | Sierra Bancorp | $8,768,000 | – | 592,404 | – | 0.79% | – |
| ISBC | New | Investors Bancorp Inc. | $8,428,000 | – | 399,798 | – | 0.76% | – |
| HFWA | New | Heritage Financial Corporation | $8,423,000 | – | 574,949 | – | 0.76% | – |
| OLBK | New | Old Line Bancshares, Inc. | $8,211,000 | – | 622,519 | – | 0.74% | – |
| METR | New | Metro Bancorp Inc. | $8,017,000 | – | 400,256 | – | 0.72% | – |
| CVCY | New | Central Valley Community Bncrp | $7,946,000 | – | 788,334 | – | 0.71% | – |
| CVBF | New | CVB Financial Corp. | $7,927,000 | – | 674,096 | – | 0.71% | – |
| BMTC | New | Bryn Mawr Bank Corporation | $7,849,000 | – | 328,010 | – | 0.70% | – |
| IBKC | New | Iberiabank Corp | $7,827,000 | – | 146,004 | – | 0.70% | – |
| SONA | New | Southern National Bancorp of Virginia | $7,726,000 | – | 790,012 | – | 0.69% | – |
| FCBN | New | First Citizens Bancorporation | $7,534,000 | – | 11,958 | – | 0.68% | – |
| HBOS | New | Heritage Financial Group | $7,512,000 | – | 509,297 | – | 0.67% | – |
| OKSB | New | Southwest Bancorp, Inc. | $7,387,000 | – | 559,644 | – | 0.66% | – |
| BKYF | New | Bank Kentucky Financial | $7,198,000 | – | 253,111 | – | 0.64% | – |
| CYN | New | City National Corp. | $7,042,000 | – | 111,132 | – | 0.63% | – |
| FLIC | New | First of Long Island Corp. | $6,988,000 | – | 210,560 | – | 0.63% | – |
| SYBT | New | SY Bancorp | $6,923,000 | – | 282,223 | – | 0.62% | – |
| FFCH | New | First Financial Holdings | $6,783,000 | – | 319,786 | – | 0.61% | – |
| FSOF | New | First Southern Bancorp, Inc. | $6,778,000 | – | 1,457,703 | – | 0.61% | – |
| FSGI | New | First Security Group, Inc. | $6,467,000 | – | 2,980,000 | – | 0.58% | – |
| QCRH | New | QCR Holdings, Inc. | $6,280,000 | – | 406,461 | – | 0.56% | – |
| BLMT | New | BSB Bancorp, Inc. | $6,195,000 | – | 471,140 | – | 0.56% | – |
| BBNK | New | Bridge Capital Holdings | $6,127,000 | – | 386,323 | – | 0.55% | – |
| SIVB | New | SVB Financial Group | $5,882,000 | – | 70,600 | – | 0.53% | – |
| DHIL | New | Diamond Hill Investment Group | $5,793,000 | – | 67,688 | – | 0.52% | – |
| UVSP | New | Univest Corp. of Pennsylvania | $5,744,000 | – | 301,225 | – | 0.52% | – |
| BHB | New | Bar Harbor Bankshares | $5,727,000 | – | 156,702 | – | 0.51% | – |
| PGC | New | Peapack-Gladstone Financial Corp. | $5,654,000 | – | 323,458 | – | 0.51% | – |
| LKFN | New | Lakeland Financial Corporation | $5,643,000 | – | 203,350 | – | 0.51% | – |
| SCAF | New | Security California Bancorp | $5,571,000 | – | 520,655 | – | 0.50% | – |
| NWIN | New | NorthWest Indiana Bancorp | $5,494,000 | – | 232,305 | – | 0.49% | – |
| WTBFB | New | W.T.B. Financial Corporation | $5,435,000 | – | 35,996 | – | 0.49% | – |
| HAFC | New | Hanmi Financial Corporation | $5,341,000 | – | 302,262 | – | 0.48% | – |
| CWBK | New | CommerceWest Bank | $5,066,000 | – | 413,544 | – | 0.45% | – |
| LPS | New | Lender Processing Services, Inc. | $5,050,000 | – | 156,100 | – | 0.45% | – |
| HIFS | New | Hingham Institution for Savings | $4,969,000 | – | 73,200 | – | 0.44% | – |
| CVLY | New | Codorus Valley Bancorp, Inc. | $4,947,000 | – | 284,290 | – | 0.44% | – |
| BANC | New | Banc of California, Inc. | $4,812,000 | – | 354,347 | – | 0.43% | – |
| MFNC | New | Mackinac Financial Corporation | $4,723,000 | – | 531,840 | – | 0.42% | – |
| FBMI | New | Firstbank Corporation | $4,695,000 | – | 350,128 | – | 0.42% | – |
| SFST | New | Southern First Bancshares, Inc. | $4,543,000 | – | 413,404 | – | 0.41% | – |
| FCCY | New | 1st Constitution Bancorp | $4,365,000 | – | 459,467 | – | 0.39% | – |
| SUSQ | New | Susquehanna Bancshares, Inc. | $4,178,000 | – | 325,124 | – | 0.38% | – |
| VPFG | New | ViewPoint Financial Group, Inc. | $4,143,000 | – | 199,072 | – | 0.37% | – |
| PSBQ | New | PSB Holdings, Inc. | $4,117,000 | – | 140,763 | – | 0.37% | – |
| UBMI | New | United Bancorp, Inc. | $4,028,000 | – | 746,008 | – | 0.36% | – |
| 2206PS | New | Palmetto Bancshares, Inc. | $3,995,000 | – | 307,345 | – | 0.36% | – |
| FMFC | New | First M&F Corporation | $3,997,000 | – | 252,786 | – | 0.36% | – |
| EBSB | New | Meridian Interstate Bancorp | $3,908,000 | – | 207,526 | – | 0.35% | – |
| FNBG | New | FNB Bancorp | $3,803,000 | – | 186,900 | – | 0.34% | – |
| FBNC | New | First Bancorp | $3,687,000 | – | 261,481 | – | 0.33% | – |
| HTH | New | Hilltop Holdings Inc. | $3,486,000 | – | 212,532 | – | 0.31% | – |
| FUBC | New | First United Bancorp | $3,466,000 | – | 515,783 | – | 0.31% | – |
| VYFC | New | Valley Financial Corporation | $3,473,000 | – | 312,893 | – | 0.31% | – |
| EBTC | New | Enterprise Bancorp, Inc. | $3,464,000 | – | 187,361 | – | 0.31% | – |
| QNBC | New | QNB Corp. | $3,393,000 | – | 138,487 | – | 0.30% | – |
| WTBA | New | West Bancorporation, Inc. | $3,284,000 | – | 279,479 | – | 0.29% | – |
| FCCO | New | First Community Corporation | $3,282,000 | – | 356,747 | – | 0.29% | – |
| IMCB | New | Intermountain Community Bncrp | $3,271,000 | – | 248,742 | – | 0.29% | – |
| NODB | New | North Dallas Bank & Trust Co. | $3,220,000 | – | 69,237 | – | 0.29% | – |
| BOCH | New | Bank of Commerce Holdings | $3,186,000 | – | 632,218 | – | 0.29% | – |
| RVSB | New | Riverview Bancorp, Inc. | $3,149,000 | – | 1,254,464 | – | 0.28% | – |
| OCFC | New | OceanFirst Financial Corp. | $3,092,000 | – | 198,826 | – | 0.28% | – |
| VCBP | New | Valley Commerce Bancorp | $3,044,000 | – | 236,720 | – | 0.27% | – |
| STSA | New | Sterling Financial Corporation | $2,973,000 | – | 125,000 | – | 0.27% | – |
| CXBT | New | Centrix Bank & Trust | $2,913,000 | – | 125,300 | – | 0.26% | – |
| GSCB | New | Greater Sacramento Bancorp | $2,902,000 | – | 181,345 | – | 0.26% | – |
| GECR | New | Georgia-Carolina Bancshares | $2,858,000 | – | 188,656 | – | 0.26% | – |
| GBNK | New | Guaranty Bancorp | $2,832,000 | – | 249,488 | – | 0.25% | – |
| AMBZ | New | American Business Bank | $2,810,000 | – | 101,259 | – | 0.25% | – |
| CCNE | New | CNB Financial Corporation | $2,761,000 | – | 163,000 | – | 0.25% | – |
| CHFN | New | Charter Financial Corporation | $2,713,000 | – | 269,137 | – | 0.24% | – |
| CITZ | New | CFS Bancorp, Inc. | $2,665,000 | – | 248,627 | – | 0.24% | – |
| NECB | New | Northeast Community Bancorp | $2,634,000 | – | 416,800 | – | 0.24% | – |
| INDB | New | Independent Bank Corp. | $2,625,000 | – | 76,073 | – | 0.24% | – |
| CNBC | New | Center Bancorp, Inc. | $2,599,000 | – | 204,787 | – | 0.23% | – |
| MFLR | New | Mayflower Bancorp, Inc. | $2,499,000 | – | 134,735 | – | 0.22% | – |
| OVLY | New | Oak Valley Bancorp | $2,490,000 | – | 324,646 | – | 0.22% | – |
| FRBK | New | Republic First Bancorp, Inc. | $2,465,000 | – | 865,000 | – | 0.22% | – |
| STEL | New | StellarOne Corporation | $2,442,000 | – | 124,250 | – | 0.22% | – |
| SBFC | New | Southeastern Bank Financial Corp. | $2,410,000 | – | 123,571 | – | 0.22% | – |
| MSFG | New | MainSource Financial Group, Inc. | $2,406,000 | – | 179,139 | – | 0.22% | – |
| CBNK | New | Chicopee Bancorp, Inc. | $2,294,000 | – | 135,730 | – | 0.21% | – |
| IBTX | New | Independent Bank Group, Inc | $2,280,000 | – | 75,000 | – | 0.20% | – |
| FXNC | New | First National Corporation | $2,208,000 | – | 343,324 | – | 0.20% | – |
| DCBF | New | DCB Financial Corp | $2,201,000 | – | 415,328 | – | 0.20% | – |
| BNCL | New | Beneficial Mutual Bancorp, Inc. | $2,194,000 | – | 261,158 | – | 0.20% | – |
| UNTY | New | Unity Bancorp, Inc. | $2,177,000 | – | 306,628 | – | 0.20% | – |
| HTBC | New | Hilltop Community Bancorp, Inc. | $2,164,000 | – | 235,437 | – | 0.19% | – |
| LBAI | New | Lakeland Bancorp, Inc. | $2,157,000 | – | 206,799 | – | 0.19% | – |
| AUBN | New | Auburn National Bancorporation | $2,110,000 | – | 95,917 | – | 0.19% | – |
| HVB | New | Hudson Valley Holding Corp. | $2,097,000 | – | 123,470 | – | 0.19% | – |
| FDEF | New | First Defiance Financial Corp. | $2,040,000 | – | 90,463 | – | 0.18% | – |
| EVBS | New | Eastern Virginia Bankshares | $2,033,000 | – | 406,593 | – | 0.18% | – |
| FNLC | New | The First Bancorp, Inc. | $2,010,000 | – | 115,000 | – | 0.18% | – |
| CNBKA | New | Century Bancorp, Inc. | $2,012,000 | – | 57,488 | – | 0.18% | – |
| CNOB | New | ConnectOne Bancorp, Inc. | $1,998,000 | – | 65,000 | – | 0.18% | – |
| SBTB | New | SBT Bancorp, Inc. | $1,916,000 | – | 67,810 | – | 0.17% | – |
| MSL | New | Midsouth Bancorp, Inc. | $1,914,000 | – | 123,248 | – | 0.17% | – |
| FBSS | New | Fauquier Bancshares, Inc. | $1,906,000 | – | 157,129 | – | 0.17% | – |
| ANCX | New | Access National Corporation | $1,878,000 | – | 144,664 | – | 0.17% | – |
| CFNL | New | Cardinal Financial Corporation | $1,860,000 | – | 127,030 | – | 0.17% | – |
| PKBK | New | Parke Bancorp, Inc. | $1,842,000 | – | 240,472 | – | 0.16% | – |
| PNFP | New | Pinnacle Financial Partners, Inc. | $1,802,000 | – | 70,100 | – | 0.16% | – |
| AMRB | New | American River Bankshares | $1,780,000 | – | 216,548 | – | 0.16% | – |
| TMP | New | Tompkins Financial Corporation | $1,769,000 | – | 39,142 | – | 0.16% | – |
| KCG | New | Knight Capital Group | $1,735,000 | – | 483,219 | – | 0.16% | – |
| HFBC | New | HopFed Bancorp, Inc. | $1,699,000 | – | 157,300 | – | 0.15% | – |
| ROMA | New | Roma Financial Corp. | $1,645,000 | – | 90,600 | – | 0.15% | – |
| PEBK | New | Peoples Bancorp of North Carolina | $1,631,000 | – | 126,449 | – | 0.15% | – |
| DNBF | New | DNB Financial Corporation | $1,605,000 | – | 90,616 | – | 0.14% | – |
| OSBC | New | Old Second Bancorp, Inc. | $1,566,000 | – | 283,750 | – | 0.14% | – |
| FMNB | New | Farmers National Banc Corp. | $1,535,000 | – | 244,451 | – | 0.14% | – |
| VLY | New | Valley National Bancorp, Inc. | $1,491,000 | – | 157,466 | – | 0.13% | – |
| FNB | New | F.N.B. Corporation | $1,467,000 | – | 121,461 | – | 0.13% | – |
| BYLK | New | Baylake Corp. | $1,396,000 | – | 143,200 | – | 0.12% | – |
| ORRF | New | Orrstown Financial Services, Inc | $1,367,000 | – | 107,822 | – | 0.12% | – |
| ABCB | New | Ameris Bancorp | $1,357,000 | – | 80,551 | – | 0.12% | – |
| HBKS | New | Heritage Bankshares, Inc. | $1,348,000 | – | 99,824 | – | 0.12% | – |
| NCBC | New | New Century Bancorp, Inc. | $1,320,000 | – | 206,921 | – | 0.12% | – |
| OBAF | New | OBA Financial Services, Inc. | $1,302,000 | – | 70,622 | – | 0.12% | – |
| ESSA | New | ESSA Bancorp, Inc. | $1,274,000 | – | 116,286 | – | 0.11% | – |
| VABK | New | Virginia National Bank | $1,264,000 | – | 75,444 | – | 0.11% | – |
| SCBT | New | SCBT Financial Corporation | $1,235,000 | – | 24,505 | – | 0.11% | – |
| LSBK | New | Lake Shore Bancorp | $1,237,000 | – | 105,754 | – | 0.11% | – |
| OPOF | New | Old Point Financial Corporation | $1,199,000 | – | 91,554 | – | 0.11% | – |
| TCBK | New | TriCo Bancshares | $1,130,000 | – | 53,000 | – | 0.10% | – |
| NOVB | New | North Valley Bancorp | $1,112,000 | – | 67,191 | – | 0.10% | – |
| PPBI | New | Pacific Premier Bancorp, Inc. | $1,118,000 | – | 91,500 | – | 0.10% | – |
| BHWB | New | Blackhawk Bancorp, Inc. | $1,058,000 | – | 127,494 | – | 0.10% | – |
| WAL | New | Western Alliance Bancorporation | $1,035,000 | – | 65,412 | – | 0.09% | – |
| PUGB | New | Puget Sound Bank | $1,014,000 | – | 79,850 | – | 0.09% | – |
| ILII | New | Illini Corporation | $1,017,000 | – | 24,700 | – | 0.09% | – |
| EFSI | New | Eagle Financial Services Inc. | $1,007,000 | – | 43,141 | – | 0.09% | – |
| CSBK | New | Clifton Savings Bancorp Inc. | $943,000 | – | 79,600 | – | 0.08% | – |
| AEL | New | American Equity Investment Life | $912,000 | – | 58,100 | – | 0.08% | – |
| MBVT | New | Merchants Bancshares, Inc. | $892,000 | – | 30,159 | – | 0.08% | – |
| RYFL | New | Royal Financial, Inc. | $791,000 | – | 161,382 | – | 0.07% | – |
| CSBQ | New | Cornerstone Bancshares, Inc. | $783,000 | – | 389,406 | – | 0.07% | – |
| BDGE | New | Bridge Bancorp Inc. | $754,000 | – | 33,494 | – | 0.07% | – |
| TWCF | New | Town and Country Financial Corp. | $717,000 | – | 69,655 | – | 0.06% | – |
| FXCB | New | Fox Chase Bancorp, Inc. | $653,000 | – | 38,429 | – | 0.06% | – |
| WFBI | New | WashingtonFirst Bankshares | $631,000 | – | 55,841 | – | 0.06% | – |
| GLBZ | New | Glen Burnie Bancorp | $597,000 | – | 49,351 | – | 0.05% | – |
| QNTO | New | Quaint Oak Bancorp | $586,000 | – | 36,500 | – | 0.05% | – |
| PSBH | New | PSB Holdings | $592,000 | – | 105,486 | – | 0.05% | – |
| SAL | New | Salisbury Bancorp, Inc. | $545,000 | – | 20,966 | – | 0.05% | – |
| WSBF | New | Waterstone Financial, Inc. | $543,000 | – | 53,482 | – | 0.05% | – |
| SCSG | New | Southcrest Financial Group, Inc. | $537,000 | – | 100,400 | – | 0.05% | – |
| FCOB | New | 1st Colonial Bancorp | $537,000 | – | 91,124 | – | 0.05% | – |
| BXS | New | BancorpSouth, Inc. | $499,000 | – | 28,200 | – | 0.04% | – |
| RCBC | New | River City Bank | $467,000 | – | 4,789 | – | 0.04% | – |
| CBOE | New | CBOE Holdings | $466,000 | – | 10,000 | – | 0.04% | – |
| FFKY | New | First Financial Service Corp. | $391,000 | – | 115,338 | – | 0.04% | – |
| KRNY | New | Kearny Financial Corp. | $376,000 | – | 35,800 | – | 0.03% | – |
| BAOB | New | Baraboo Bancorporation, Inc. | $339,000 | – | 240,257 | – | 0.03% | – |
| FFBC | New | First Financial Bancorp. | $313,000 | – | 21,000 | – | 0.03% | – |
| MCBI | New | MetroCorp Bancshares-TX | $311,000 | – | 31,900 | – | 0.03% | – |
| UMPQ | New | Umpqua Holdings Corporation | $300,000 | – | 20,000 | – | 0.03% | – |
| TSC | New | TriState Capital Holdings, Inc. | $275,000 | – | 20,000 | – | 0.02% | – |
| FISI | New | Financial Institutions, Inc. | $261,000 | – | 14,200 | – | 0.02% | – |
| CFIC | New | Cornerstone Financial | $254,000 | – | 101,071 | – | 0.02% | – |
| FISB | New | 1st Capital Bank | $231,000 | – | 20,422 | – | 0.02% | – |
| NFBK | New | Northfield Bancorp, Inc. | $216,000 | – | 18,447 | – | 0.02% | – |
| CART | New | Carolina Trust Bank | $79,000 | – | 32,300 | – | 0.01% | – |
| ORPB | New | Oregon Pacific Bancorp | $71,000 | – | 19,559 | – | 0.01% | – |
| CLBH | New | Carolina Bank Holdings, Inc. | $61,000 | – | 5,000 | – | 0.01% | – |
| FCVA | New | First Capital Bancorp, Inc. | $39,000 | – | 11,514 | – | 0.00% | – |
| SFBC | New | Sound Financial Bancorp | $22,000 | – | 1,619 | – | 0.00% | – |
| WASH | New | Washington Trust Bancorp, Inc. | $11,000 | – | 400 | – | 0.00% | – |
| CMSB | New | CMS Bancorp, Inc. | $7,000 | – | 750 | – | 0.00% | – |