UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: June 30, 1999
----------------------------
Check here if Amendment [ ]; Amendment Number:
-----
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Jeffrey L. Gendell
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Address: 200 Park Avenue, Suite 3900
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New York, New York 10166
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Form 13F File Number: 28- 6950
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The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Jeffrey L. Gendell
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Title: Investment Manager
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Phone: 212-692-3694
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Signature, Place, and Date of Signing:
/S/ Jeffrey L. Gendell New York, New York 08/13/99
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<PAGE>
Report Type (Check only one.):
[ X ] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting
manager are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report,
and all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for
this reporting manager are reported in this report and a portion are
reported by other reporting manager(s).)
<PAGE>
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
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Form 13F Information Table Entry Total: 173
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Form 13F Information Table Value Total: $1,168,156
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(thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report. NONE
<PAGE>
<TABLE>
<CAPTION>
Form 13F INFORMATION TABLE
<C> <C> <C> <C> <C> <C> <C> <C>
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 MANAGERS SOLE SHARED NONE
- --------------------------------- -------------- --------- -------- -------- --- ---- ---------- -------- -------- -------- -------
ACCESS ANYTIME BANCORP COM 00431Fl05 948 121,400 SH SOLE 121,400
- -----------------------------------------------------------------------------------------------------------------------------------
ALLIANCE BANCORP COM 01852J105 7,872 338,560 SH SOLE 338,560
- -----------------------------------------------------------------------------------------------------------------------------------
ANCHOR BANCORP INC COM 032839102 2,531 142,073 SH SOLE 142,073
- -----------------------------------------------------------------------------------------------------------------------------------
AIRBORNE FGHT CORP COM 009266107 13,567 490,000 SH SOLE 490,000
- -----------------------------------------------------------------------------------------------------------------------------------
ADVANCE FINANCIAL BANCORP COM 007437106 1,201 98,000 SH SOLE 98,000
- -----------------------------------------------------------------------------------------------------------------------------------
ALPINE GROUP INC COM 020825105 12,448 775,000 SH SOLE 775,000
- -----------------------------------------------------------------------------------------------------------------------------------
AMBANC HLDG INC COM 023161102 4,083 245,610 SH SOLE 245,610
- -----------------------------------------------------------------------------------------------------------------------------------
ALBION BANC CORP COM 013289103 439 38,800 SH SOLE 38,800
- -----------------------------------------------------------------------------------------------------------------------------------
AMR CORP COM 001765106 6,129 89,800 SH SOLE 89,800
- -----------------------------------------------------------------------------------------------------------------------------------
ACADIANA BANCSHARES INC COM 004280103 1,029 56,000 SH SOLE 56,000
- -----------------------------------------------------------------------------------------------------------------------------------
ASB FINL CORP COM 00205P107 641 50,500 SH SOLE 50,500
- -----------------------------------------------------------------------------------------------------------------------------------
ASTORIA FINL CORP COM 046265104 13,432 305,700 SH SOLE 305,700
- -----------------------------------------------------------------------------------------------------------------------------------
AVIALL INC NEW COM 05366B102 5,284 280,900 SH SOLE 280,900
- -----------------------------------------------------------------------------------------------------------------------------------
ANIXTER INTL INC COM 035290105 4,165 228,200 SH SOLE 228,200
- -----------------------------------------------------------------------------------------------------------------------------------
BANK OF AMERICA CORPORATION CALL 060505904 72,213 985,000 SH CALL SOLE 985,000
- -----------------------------------------------------------------------------------------------------------------------------------
BANK OF AMERICA CORPORATION COM 060505104 19,021 259,452 SH SOLE 259,452
- -----------------------------------------------------------------------------------------------------------------------------------
BOSTONFED BANCORP INC COM 101178101 4,521 252,900 SH SOLE 252,900
- -----------------------------------------------------------------------------------------------------------------------------------
BANKBOSTON CORP CALL 06605R906 8,180 160,000 SH CALL SOLE 160,000
- -----------------------------------------------------------------------------------------------------------------------------------
BANK PLUS CORP COM 064446107 10,399 1,934,700 SH SOLE 1,934,700
- -----------------------------------------------------------------------------------------------------------------------------------
BAY ST BANCORP INC COM 072611106 3,843 186,900 SH SOLE 186,900
- -----------------------------------------------------------------------------------------------------------------------------------
BAYOU STEEL CORP COM 073051104 1,727 460,600 SH SOLE 460,600
- -----------------------------------------------------------------------------------------------------------------------------------
CITIGROUP INC COM 172967101 19,095 402,000 SH SOLE 402,000
- -----------------------------------------------------------------------------------------------------------------------------------
CITIGROUP INC CALL 172967901 32,063 675,000 SH CALL SOLE 675,000
- -----------------------------------------------------------------------------------------------------------------------------------
CAMCO FINL CO COM 132618109 889 67,410 SH SOLE 67,410
- -----------------------------------------------------------------------------------------------------------------------------------
CAVALIER HOMES INC COM 149507105 2,605 318,200 SH SOLE 318,200
- -----------------------------------------------------------------------------------------------------------------------------------
COASTAL BANCORP INC COM 19041Pl05 4,346 257,550 SH SOLE 257,550
- -----------------------------------------------------------------------------------------------------------------------------------
COMMUNITY BK SYS INC COM 203607106 2,636 103,900 SH SOLE 103,900
- -----------------------------------------------------------------------------------------------------------------------------------
CORT BUSINESS SVCS CORP COM 220493100 718 30,000 SH SOLE 30,000
- -----------------------------------------------------------------------------------------------------------------------------------
CCF HLDG CO COM 12487X104 1,205 67,881 SH SOLE 67,881
- -----------------------------------------------------------------------------------------------------------------------------------
COMDISCO INC COM 200336105 9,761 380,900 SH SOLE 380,900
- -----------------------------------------------------------------------------------------------------------------------------------
CENTRAL BANCORP INC - MASS COM 152418109 3,823 177,800 SH SOLE 177,800
- -----------------------------------------------------------------------------------------------------------------------------------
COMMERCIAL FEDERAL CORPORATION COM 201647104 10,968 473,000 SH SOLE 473,000
- -----------------------------------------------------------------------------------------------------------------------------------
MARGATE INDS INC COM 566902409 112 62,499 SH SOLE 62,499
- -----------------------------------------------------------------------------------------------------------------------------------
COMMUNITY INVS BANCORP INC COM 203719109 744 80,400 SH SOLE 80,400
- -----------------------------------------------------------------------------------------------------------------------------------
CFS BANCORP INC COM 12525D102 1,776 162,360 SH SOLE 162,360
- -----------------------------------------------------------------------------------------------------------------------------------
CHASE MANHATTAN CORP NEW CALL 16161A908 37,628 435,000 SH CALL SOLE 435,000
- -----------------------------------------------------------------------------------------------------------------------------------
CHASE MANHATTAN CORP NEW COM 16161A108 26,123 302,000 SH SOLE 302,000
- -----------------------------------------------------------------------------------------------------------------------------------
CORE MATLS CORP COM 218683100 1,491 477,100 SH SOLE 477,100
- -----------------------------------------------------------------------------------------------------------------------------------
COMMONWEALTH BANCORP INC COM 20268X102 4,090 228,000 SH SOLE 220,800
- -----------------------------------------------------------------------------------------------------------------------------------
COLONIAL BANCGROUP INC COM 195493309 2,725 195,500 SH SOLE 195,500
- -----------------------------------------------------------------------------------------------------------------------------------
CENTURY BANCORP INC CL A 156432106 432 22,500 SH SOLE 22,500
- -----------------------------------------------------------------------------------------------------------------------------------
CHARTER ONE FINL INC COM 160903100 8,052 289,500 SH SOLE 289,500
- -----------------------------------------------------------------------------------------------------------------------------------
COOPERATIVE BANKSHARES INC COM 216844100 126 12,000 SH SOLE 12,000
- -----------------------------------------------------------------------------------------------------------------------------------
CENTURY BANCSHARES INC COM 156436107 1,023 170,556 SH SOLE 170,556
- -----------------------------------------------------------------------------------------------------------------------------------
DUCOMMUN INC DEL COM 264147109 4,526 379,149 SH SOLE 379,149
- -----------------------------------------------------------------------------------------------------------------------------------
DIME CMNTY BANCSHARES COM 253922108 6,477 278,568 SH SOLE 278,568
- -----------------------------------------------------------------------------------------------------------------------------------
DIME BANCORP INC NEW COM 25429Q102 32,184 1,599,200 SH SOLE 1,599,200
- -----------------------------------------------------------------------------------------------------------------------------------
DAYTON SUPERIOR CORP CL A 240028100 5,571 300,100 SH SOLE 300,100
- -----------------------------------------------------------------------------------------------------------------------------------
DOWNEY FINL CORP COM 261018105 1,643 74,900 SH SOLE 74,900
- -----------------------------------------------------------------------------------------------------------------------------------
EAGLE BANCSHARES INC COM 26942C109 903 43,500 SH SOLE 43,500
- -----------------------------------------------------------------------------------------------------------------------------------
EDO CORP COM 281347104 1,217 167,800 SH SOLE 167,800
- -----------------------------------------------------------------------------------------------------------------------------------
EAGLE BANCGROUP INC COM 26941T103 1,810 81,800 SH SOLE 81,800
- -----------------------------------------------------------------------------------------------------------------------------------
ELECTRIC LIGHTWAVE INC CL A 284895109 1,461 112,400 SH SOLE 112,400
- -----------------------------------------------------------------------------------------------------------------------------------
EMCO LTD COM 290839109 4,221 662,100 SH SOLE 662,100
- -----------------------------------------------------------------------------------------------------------------------------------
ENGLE HOMES INC COM 292896107 3,710 269,800 SH SOLE 269,800
- -----------------------------------------------------------------------------------------------------------------------------------
EQUITABLE FED SVGS BK MD COM 294487103 2,246 121,400 SH SOLE 121,400
- -----------------------------------------------------------------------------------------------------------------------------------
ELMIRA SVGS BK FSB NY COM 289660102 1,589 69,848 SH SOLE 69,848
- -----------------------------------------------------------------------------------------------------------------------------------
FAIRCHILD CORP CL A 303698104 13,073 1,025,317 SH SOLE 1,025,317
- -----------------------------------------------------------------------------------------------------------------------------------
FIRSTFED AMERICA BA COM 337929103 7,052 524,800 SH SOLE 524,800
- -----------------------------------------------------------------------------------------------------------------------------------
FIRST COASTAL CORP COM 319699203 616 64,800 SH SOLE 64,800
- -----------------------------------------------------------------------------------------------------------------------------------
FIRST DEFIANCE FINL CORP COM 32006W106 1,070 95,100 SH SOLE 95,100
- -----------------------------------------------------------------------------------------------------------------------------------
FIRSTFED FINL CORP COM 337907109 1,078 56,000 SH SOLE 56,000
- -----------------------------------------------------------------------------------------------------------------------------------
FIRSTFED BANCORP INC COM 33761Ql02 876 100,800 SH SOLE 100,800
- -----------------------------------------------------------------------------------------------------------------------------------
FIRST FED S&L EAST HARTFORD CT COM 319944104 6,935 261,700 SH SOLE 261,700
- -----------------------------------------------------------------------------------------------------------------------------------
FIRST FRANKLIN CORP COM 320272107 561 40,450 SH SOLE 40,450
- -----------------------------------------------------------------------------------------------------------------------------------
FIDELITY FINL OHIO INC COM 31614P107 2,553 212,760 SH SOLE 212,760
- ---------------------------------------------------------------------------------- ------------------------------------------------
FIRST INDEPENDENCE CORP COM 32054B103 1,054 93,700 SH SOLE 93,700
- -----------------------------------------------------------------------------------------------------------------------------------
FIRST KEYSTONE FINL INC COM 320655103 525 40,000 SH SOLE 40,000
- -----------------------------------------------------------------------------------------------------------------------------------
FMS FINL CORP COM 302509104 1,373 146,400 SH SOLE 146,400
- -----------------------------------------------------------------------------------------------------------------------------------
FIRST SENTINEL BANCORP INC COM 33640T103 89 10,000 SH SOLE 10,000
- -----------------------------------------------------------------------------------------------------------------------------------
TEXARKANA FIRST FINL CORP COM 881801104 618 26,000 SH SOLE 26,000
- -----------------------------------------------------------------------------------------------------------------------------------
GA FINL INC COM 361437106 2,220 151,800 SH SOLE 151,800
- -----------------------------------------------------------------------------------------------------------------------------------
GENERAL CHEM GROUP INC COM 369332101 1,683 538,500 SH SOLE 538,500
- -----------------------------------------------------------------------------------------------------------------------------------
GENERAL CABLE CORP - DEL NEW COM 369300108 6,014 375,900 SH SOLE 375,900
- -----------------------------------------------------------------------------------------------------------------------------------
GENTEK INC COM 37245X104 6,668 480,600 SH SOLE 480,600
- -----------------------------------------------------------------------------------------------------------------------------------
GENERAL MTRS CORP CALL 370442905 68,640 1,040,000 SH CALL SOLE 1,040,000
- -----------------------------------------------------------------------------------------------------------------------------------
GENERAL MTRS CORP COM 370442105 24,908 377,400 SH SOLE 377,400
- -----------------------------------------------------------------------------------------------------------------------------------
GENERAL MTRS CORP CL H 370442832 11,679 207,400 SH SOLE 207,400
- -----------------------------------------------------------------------------------------------------------------------------------
GOLDEN ST BANCORP INC COM 381197102 2,949 131,060 SH SOLE 131,060
- -----------------------------------------------------------------------------------------------------------------------------------
GRANITE STATE BANKS COM 387472103 3,090 133,613 SH SOLE 133,613
- -----------------------------------------------------------------------------------------------------------------------------------
HALLIBURTON PUT 406216951 1,131 25,000 SH PUT SOLE 25,000
- -----------------------------------------------------------------------------------------------------------------------------------
HAVEN BANCORP INC COM 419352109 7,571 473,200 SH SOLE 473,200
- -----------------------------------------------------------------------------------------------------------------------------------
HF FINL CORP COM 404172108 3,790 283,350 SH SOLE 283,350
- -----------------------------------------------------------------------------------------------------------------------------------
HARVEST HOME FINL CORP COM 41753P107 817 69,500 SH SOLE 69,500
- -----------------------------------------------------------------------------------------------------------------------------------
HOMESTEAD BANCORP INC COM 437698103 325 43,300 SH SOLE 43,300
- -----------------------------------------------------------------------------------------------------------------------------------
HUBBELL INC CL B 443510201 6,071 133,800 SH SOLE 133,800
- -----------------------------------------------------------------------------------------------------------------------------------
INDEPENDENT BANKSHARES INC COM 453841207 1,052 95,600 SH SOLE 95,600
- -----------------------------------------------------------------------------------------------------------------------------------
INTERNATIONAL COMFORT PRODS CP ORD 458978103 2,769 243,400 SH SOLE 243,400
- -----------------------------------------------------------------------------------------------------------------------------------
INDEPENDENCE FED SVGS BK COM 453432106 1,065 87,800 SH SOLE 87,800
- -----------------------------------------------------------------------------------------------------------------------------------
INTELLIGENT LIFE CORP COM 45816V100 85,313 13,000 SH SOLE 13,000
- -----------------------------------------------------------------------------------------------------------------------------------
IROQUOIS BANCORP INC COM 463347104 745 40,000 SH SOLE 40,000
- -----------------------------------------------------------------------------------------------------------------------------------
ISB FINANCIAL CORP LA Com 450091103 6,647 309,150 SH SOLE 309,150
- -----------------------------------------------------------------------------------------------------------------------------------
MARK IV INDS INC COM 570387100 17,021 805,750 SH SOLE 805,750
- -----------------------------------------------------------------------------------------------------------------------------------
JEFFERSON SVGS BANCORP INC E COM 474900107 2,113 152,280 SH SOLE 152,280
- -----------------------------------------------------------------------------------------------------------------------------------
KEYSTONE CONS INDS INC COM 493422109 435 65,600 SH SOLE 65,600
- -----------------------------------------------------------------------------------------------------------------------------------
KENTUCKY ELEC STL INC COM 49127B100 991 296,500 SH SOLE 296,500
- -----------------------------------------------------------------------------------------------------------------------------------
KANKAKEE BANCORP INC COM 484243100 3,553 131,600 SH SOLE 131,600
- -----------------------------------------------------------------------------------------------------------------------------------
LADISH INC COM NEW 505754200 2,754 355,300 SH SOLE 355,300
- -----------------------------------------------------------------------------------------------------------------------------------
LONG ISLAND FINANCIAL CORP COM 542669106 434 36,200 SH SOLE 36,200
- -----------------------------------------------------------------------------------------------------------------------------------
LUND INTL HLDGS INC COM 550368104 865 138,400 SH SOLE 138,400
- -----------------------------------------------------------------------------------------------------------------------------------
LEXINGTON B&L FINL CORP COM 529017105 1,168 99,400 SH SOLE 99,400
- -----------------------------------------------------------------------------------------------------------------------------------
MID-AMER BANCORP COM 595915109 640 26,000 SH SOLE 26,000
- -----------------------------------------------------------------------------------------------------------------------------------
MAGNETEK INC COM 559424106 2,878 272,500 SH SOLE 272,500
- -----------------------------------------------------------------------------------------------------------------------------------
HANNA M A CO COM 410522106 10,259 624,100 SH SOLE 624,100
- -----------------------------------------------------------------------------------------------------------------------------------
MB FINL INC COM 55263D107 2,665 202,100 SH SOLE 202,100
- -----------------------------------------------------------------------------------------------------------------------------------
MBLA FINL CORP COM 552623100 453 19,600 SH SOLE 19,600
- -----------------------------------------------------------------------------------------------------------------------------------
M D C HLDGS INC COM 552676108 12,786 594,700 SH SOLE 594,700
- -----------------------------------------------------------------------------------------------------------------------------------
MERRILL LYNCH & CO INC CALL 590188908 5,565 70,000 SH CALL SOLE 70,000
- -----------------------------------------------------------------------------------------------------------------------------------
MERRILL LYNCH & CO INC COM 590188108 56,461 710,200 SH SOLE 710,200
- -----------------------------------------------------------------------------------------------------------------------------------
MOTOR CLUB AMER COM 619823107 344 26,300 SH SOLE 26,300
- -----------------------------------------------------------------------------------------------------------------------------------
MIDSOUTH BANCORP COM 598039105 196 18,050 SH SOLE 18,050
- -----------------------------------------------------------------------------------------------------------------------------------
MIDWEST BANCSHARES INC DEL COM 59825H101 675 50,700 SH SOLE 50,700
- -----------------------------------------------------------------------------------------------------------------------------------
NAVISTAR INTL CORP NEW COM 63934E108 62,525 1,250,500 SH SOLE 1,250,500
- -----------------------------------------------------------------------------------------------------------------------------------
NIAGARA BANCORP INC COM 652914102 1,816 170,900 SH SOLE 170,900
- -----------------------------------------------------------------------------------------------------------------------------------
NORTHEAST BANCORP COM 663904100 456 47,400 SH SOLE 47,400
- -----------------------------------------------------------------------------------------------------------------------------------
NORTH BANCSHARES INC COM 657467106 1,050 75,000 SH SOLE 75,000
- -----------------------------------------------------------------------------------------------------------------------------------
NORTHEAST PA FINL CORP COM 663905107 2,985 256,800 SH SOLE 256,800
- -----------------------------------------------------------------------------------------------------------------------------------
NEW HAMPSHIRE THRIFT BANCSHS COM 644722100 395 27,000 SH SOLE 27,000
- -----------------------------------------------------------------------------------------------------------------------------------
NOVACARE INC COM 669930109 2,970 1,979,700 SH SOLE 1,979,700
- -----------------------------------------------------------------------------------------------------------------------------------
NVR INC COM 62944T105 5,292 101,400 SH SOLE 101,400
- -----------------------------------------------------------------------------------------------------------------------------------
NORTHWEST BANCORP INC PA COM 667328108 2,960 296,000 SH SOLE 296,000
- -----------------------------------------------------------------------------------------------------------------------------------
BANK ONE CORP CALL 06423A903 41,425 695,500 SH SOLE 695,500
- -----------------------------------------------------------------------------------------------------------------------------------
BANK ONE CORP COM 06423A103 5,063 85,000 SH SOLE 85,000
- -----------------------------------------------------------------------------------------------------------------------------------
PATRIOT BANK CORP PA COM 70335P103 648 68,200 SH SOLE 68,200
- -----------------------------------------------------------------------------------------------------------------------------------
PEOPLES BANCSHARES INC MASS COM 709795108 3,941 194,598 SH SOLE 194,598
- -----------------------------------------------------------------------------------------------------------------------------------
PENNFED FINL SVCS INC COM 708167101 12,609 800,600 SH SOLE 800,600
- -----------------------------------------------------------------------------------------------------------------------------------
POCAHONTAS BANCORP INC COM 730234101 151 20,000 SH SOLE 20,000
- -----------------------------------------------------------------------------------------------------------------------------------
PEOPLES HERITAGE FINL GROUP COM 711147108 753 40,000 SH SOLE 40,000
- -----------------------------------------------------------------------------------------------------------------------------------
PULTE CORP COM 745867101 3,958 171,600 SH SOLE 171,600
- -----------------------------------------------------------------------------------------------------------------------------------
PINNACLE BANCSHARES INC COM 722903101 1,720 172,000 SH SOLE 172,000
- -----------------------------------------------------------------------------------------------------------------------------------
PRINCETON NATL BANCORP INC COM 742282106 2,566 169,650 SH SOLE 169,650
- -----------------------------------------------------------------------------------------------------------------------------------
PNC BK CORP CALL 693475905 1,441 25,000 SH CALL SOLE 25,000
- -----------------------------------------------------------------------------------------------------------------------------------
PRESTIGE BANCORP INC COM 741115109 512 41,356 SH SOLE 41,356
- -----------------------------------------------------------------------------------------------------------------------------------
PRIMEX TECHNOLOGIES INC COM 741597108 8,672 402,200 SH SOLE 402,200
- -----------------------------------------------------------------------------------------------------------------------------------
PROVIDENT FINL HLDGS INC COM 743868101 6,736 338,800 SH SOLE 338,800
- -----------------------------------------------------------------------------------------------------------------------------------
POTTERS FINL CORP COM 738140102 608 47,700 SH SOLE 47,700
- -----------------------------------------------------------------------------------------------------------------------------------
PAINE WEBBER GROUP INC COM 695629105 3,506 75,000 SH SOLE 75,000
- -----------------------------------------------------------------------------------------------------------------------------------
QUAKER CITY BANCORP INC COM 74731Kl06 1,095 66,375 SH SOLE 66,375
- -----------------------------------------------------------------------------------------------------------------------------------
REPUBLIC BANCORP INC COM 760282103 1,546 101,810 SH SOLE 101,810
- -----------------------------------------------------------------------------------------------------------------------------------
RICHMOND CNTY FINL CORP COM 764556106 4,578 237,806 SH SOLE 237,806
- -----------------------------------------------------------------------------------------------------------------------------------
RELIANCE BANCORP INC COM 759451107 3,439 124,500 SH SOLE 124,500
- -----------------------------------------------------------------------------------------------------------------------------------
RIGGS NATL CORP WASH DC COM 766570105 3,084 150,000 SH SOLE 150,000
- -----------------------------------------------------------------------------------------------------------------------------------
RIVER VY BANCORP COM 768475105 1,471 110,500 SH SOLE 110,500
- -----------------------------------------------------------------------------------------------------------------------------------
ROHN INDS INC COM 775381106 1,862 1,353,940 SH SOLE 1,353,940
- -----------------------------------------------------------------------------------------------------------------------------------
REPUBLIC SECURITY FINL CORP COM 760758102 850 101,509 SH SOLE 101,509
- -----------------------------------------------------------------------------------------------------------------------------------
FINGER LAKES FINL CORP Com 317948107 1,192 108,400 SH SOLE 108,400
- -----------------------------------------------------------------------------------------------------------------------------------
SFS BANCORP INC COM COM 784166100 2,305 95,300 SH SOLE 95,300
- -----------------------------------------------------------------------------------------------------------------------------------
SGV BANCORP INC COM 78422T102 4,084 204,200 SH SOLE 204,200
- -----------------------------------------------------------------------------------------------------------------------------------
SIFCO INDS INC COM 826546103 1,817 220,200 SH SOLE 220,200
- -----------------------------------------------------------------------------------------------------------------------------------
SKANEATELES BANCORP INC COM 830506101 2,365 90,950 SH SOLE 90,950
- -----------------------------------------------------------------------------------------------------------------------------------
SPARTON CORP COM 847235108 467 77,900 SH SOLE 77,900
- -----------------------------------------------------------------------------------------------------------------------------------
SOUTHERN BANC INC COM 842233108 1,198 97,300 SH SOLE 97,300
- -----------------------------------------------------------------------------------------------------------------------------------
SUCCESS BANCSHARES INC COM 864578109 2,180 202,800 SH SOLE 202,800
- -----------------------------------------------------------------------------------------------------------------------------------
SOUTHFIRST BANCSHARES INC COM 844271106 1,151 87,700 SH SOLE 87,700
- -----------------------------------------------------------------------------------------------------------------------------------
TEREX CORP COM 880779103 22,989 755,300 SH SOLE 755,300
- -----------------------------------------------------------------------------------------------------------------------------------
TRANSFINANCIAL HLDS INC COM 89365P106 269 53,800 SH SOLE 53,800
- -----------------------------------------------------------------------------------------------------------------------------------
THREE RIVS FINL CORP COM 88562H107 383 30,200 SH SOLE 30,200
- -----------------------------------------------------------------------------------------------------------------------------------
TF FINL CORP COM 872391107 5,173 267,832 SH SOLE 267,832
- -----------------------------------------------------------------------------------------------------------------------------------
TECHE HLDG CO COM 878330109 550 32,100 SH SOLE 32,100
- -----------------------------------------------------------------------------------------------------------------------------------
TRANSPORTATION TECHN INDS INC COM 89388T101 6,104 460,700 SH SOLE 460,700
- -----------------------------------------------------------------------------------------------------------------------------------
TITAN CORP COM 888266103 17,490 1,590,000 SH SOLE 1,590,000
- -----------------------------------------------------------------------------------------------------------------------------------
UNIONBANCORP INC COM 908908106 4,886 324,400 SH SOLE 324,400
- -----------------------------------------------------------------------------------------------------------------------------------
U S B HOLDING INC COM 902910108 1,321 86,240 SH SOLE 86,240
- -----------------------------------------------------------------------------------------------------------------------------------
UMB FINL CORP COM 902788108 1,859 43,360 SH SOLE 43,360
- -----------------------------------------------------------------------------------------------------------------------------------
U S G CORP COM NEW 903293405 22,047 393,700 SH SOLE 393,700
- -----------------------------------------------------------------------------------------------------------------------------------
U S T CORP COM 902900109 6,043 199,775 SH SOLE 199,775
- -----------------------------------------------------------------------------------------------------------------------------------
WAINWRIGHT BK & TR CO BOSTON MA COM 930705108 244 30,000 SH SOLE 30,000
- -----------------------------------------------------------------------------------------------------------------------------------
WEBSTER FINL CORP CONN COM 947890109 7,115 262,306 SH SOLE 262,306
- -----------------------------------------------------------------------------------------------------------------------------------
WHG BANCSHARES CORP COM 928949106 178 20,000 SH SOLE 20,000
- -----------------------------------------------------------------------------------------------------------------------------------
WASHINGTON MUT INC COM 939322103 4,154 116,800 SH SOLE 116,800
- -----------------------------------------------------------------------------------------------------------------------------------
WHITNEY HLDG CO COM 966612103 2,773 69,768 SH SOLE 69,768
- -----------------------------------------------------------------------------------------------------------------------------------
WYMAN/GORDON CO COM 983085101 16,377 848,000 SH SOLE 848,000
- -----------------------------------------------------------------------------------------------------------------------------------
YONKERS FINL CORP COM 986073104 221 12,600 SH SOLE 12,600
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CONFIDENTIAL PORTIONS OMITTED AND FILED SEPARATELY WITH THE SEC
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</TABLE>
