JCSD Capital 13F-HR Quarterly holdings report by institutional manager

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

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

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
Ameris Bancorp Jul 19 2019 35	call	03076K908	62	301	PRN	Call	SOLE		62	0	0
Ameris Bancorp	common	03076K108	6,169	179,600	SH		SOLE		6,169	0	0
Banc of California	common	05990K106	155	11,200	SH		SOLE		155	0	0
Banc of California Inc Apr 18 2019 16	call	05990K906	19	1,500	PRN	Call	SOLE		19	0	0
Banc of California Inc Apr 18 2019 21	call	05990K906	6	2,430	PRN	Call	SOLE		6	0	0
Banc of California Inc Jul 19 2019 17	call	05990K906	16	1,600	PRN	Call	SOLE		16	0	0
Bank of Commerce Holdings	common	06424J103	3,052	289,321	SH		SOLE		3,052	0	0
Bank of Fincastle	common	062113105	1,129	486,486	SH		SOLE		1,129	0	0
Bay Banks of Virginia, Inc.	common	072035108	1,808	234,820	SH		SOLE		1,808	0	0
Cadence Bancorporation CL A, Jun 21 2018 $17.50	call	12739A900	97	450	PRN	Call	SOLE		97	0	0
Cadence Bancorporation CL A	common	12739A100	3,608	194,500	SH		SOLE		3,608	0	0
CalWest Bancorp	common	13169Q102	1,124	2,883,000	SH		SOLE		1,124	0	0
Citizens Commerce Bancshares, Inc.	common	17452P101	1,162	193,746	SH		SOLE		1,162	0	0
Columbia Bkg Sys Inc	common	197236102	1,406	43,014	SH		SOLE		1,406	0	0
Cullen Frost Bankers Inc	common	229899109	971	10,000	SH		SOLE		971	0	0
Evans Bancorp Inc	common	29911Q208	4,535	127,201	SH		SOLE		4,535	0	0
First Bancorp NC	common	318910106	4,886	140,000	SH		SOLE		4,886	0	0
First Bancshares Inc MS	common	318916103	8,464	273,925	SH		SOLE		8,464	0	0
First Busey Corp	common	319383204	3,540	145,062	SH		SOLE		3,540	0	0
First Intst Bancsystem CL A	common	32055Y201	4,109	103,199	SH		SOLE		4,109	0	0
First South Bancorp, Inc.	common	33646D102	1,805	1,597,246	SH		SOLE		1,805	0	0
First Midwest Bancorp DEL	common	320867104	2,994	146,349	SH		SOLE		2,994	0	0
Franklin Financial Network	common	35352P104	3,626	125,000	SH		SOLE		3,626	0	0
Grandsouth Bancorporation	common	386627301	5,568	342,661	SH		SOLE		5,568	0	0
Heritage Commerce Corp	common	426927109	2,577	213,000	SH		SOLE		2,577	0	0
Home Bancshares, Inc.	common	436893200	1,246	70,916	SH		SOLE		1,246	0	0
Homestreet Inc May 17 2019 $17.50	call	43785V902	613	700	PRN	Call	SOLE		613	0	0
Hope Bancorp Inc	common	43940T109	709	54,238	SH		SOLE		709	0	0
Invesco Exchange Traded Sr Ln ETF Apr 18 2019 22	put	46138G958	6	2,450	PRN	Put	SOLE		6	0	0
Lakeland Bancorp Inc	common	511637100	1,451	97,162	SH		SOLE		1,451	0	0
Lakeland Bancorp Inc Apr 18 2019 17.50	call	511637900	4	140	PRN	Call	SOLE		4	0	0
MainStreet Bancshares Inc	common	56064Y100	5,684	263,158	SH		SOLE		5,684	0	0
Metro Phoenix Bank	common	59165E106	2,102	176,667	SH		SOLE		2,102	0	0
Old Natl Bancorp IND	common	680033107	3,608	220,000	SH		SOLE		3,608	0	0
OP Bancorp	common	67109R109	3,229	368,980	SH		SOLE		3,229	0	0
Oregon Pacific Bancorp	common	686040205	1,876	323,534	SH		SOLE		1,876	0	0
Pacific Premier Bancorp	common	69478X105	6,235	235,000	SH		SOLE		6,235	0	0
Pacific West Bank	common	69506W202	2,216	152,857	SH		SOLE		2,216	0	0
Pacwest Bancorp DEL	common	695263103	4,965	132,000	SH		SOLE		4,965	0	0
Pioneer Bancshares, Inc.	common	72357G102	2,499	95,000	SH		SOLE		2,499	0	0
Preferred BK Los Angeles CA	common	740367404	2,694	59,900	SH		SOLE		2,694	0	0
Prime Meridian Holding Company	common	74164R107	1,296	63,375	SH		SOLE		1,296	0	0
SB Financial Group Inc.	common	78408D105	4,796	266,144	SH		SOLE		4,796	0	0
Select Bancorp Inc	common	81617L108	6,337	557,340	SH		SOLE		6,337	0	0
Severn Bancorp Annapolis MD	common	81811M100	1,212	127,930	SH		SOLE		1,212	0	0
SVB Financial Group	common	78486Q101	5,737	25,800	SH		SOLE		5,737	0	0
Synovus Financial Corp	common	87161C501	5,125	149,150	SH		SOLE		5,125	0	0
Synovus Financial Corp Aug 16 2019 38	call	87161C901	17	210	PRN	Call	SOLE		17	0	0
Texas Capital Bancshares Inc	common	88224Q107	55	1,000	SH		SOLE		55	0	0
Triumph Bancorp Inc	common	89679E300	1,470	50,000	SH		SOLE		1,470	0	0
US Metro Bank	common	90343B102	2,651	759,573	SH		SOLE		2,651	0	0
Veritex Holdings Inc	common	923451108	1,339	55,300	SH		SOLE		1,339	0	0
Webster Financial Corp Conn	common	947890109	760	15,000	SH		SOLE		760	0	0
Western Alliance Bancorp	common	957638109	2,397	58,400	SH		SOLE		2,397	0	0
Western Alliance Bancorp May 17 2019 35	call	957638909	80	120	PRN	Call	SOLE		80	0	0