CCM

Castine Capital Management Portfolio holdings

AUM $129M

2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2

This Quarter Return

+7.77%

1 Year Return

-23.67%

3 Year Return

-14.2%

5 Year Return

+51.15%

10 Year Return

–

AUM

$208M

AUM Growth

+$208M (+3.2%)

Cap. Flow

-$8.59M

Cap. Flow % of AUM

-4.12%

Top 10 Holdings % Top 10 Hldgs %

45.46%

Holding

New

Increased

Reduced

Closed

Top Buys

1	QCR Holdings QCRH	$5.44M
2	MBVT Merchants Bancshares Inc MBVT	$4.07M
3	Center Bancorp CNOB	$3.53M
4	Western Alliance Bancorporation WAL	$3.27M
5	GBNK Guaranty Bancorp GBNK	$2.54M

Top Sells

1	First Bancorp FBP	$7.04M
2	PFC Premier Financial Corp. Common Stock PFC	$4.54M
3	OLBK Old Line Bancshares, Inc. OLBK	$3.92M
4	CWAY Coastway Bancorp, Inc. CWAY	$3.88M
5	CHMI Cherry Hill Mortgage Investment Corp CHMI	$3.58M

Sector Composition

1	Financials	76.72%
2	Real Estate	1.08%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
26	26 First Foundation Inc FFWM $490M	$3.57M	1.71%	166,138	–	–
27	27 Center Bancorp CNOB $1.29B	$3.53M	1.69%	+225,000	New	+$3.53M
28	28 Western Alliance Bancorporation WAL $9.88B	$3.27M	1.57%	+100,000	New	+$3.27M
29	NCOM 29 DELISTED National Commerce Corporation NCOM	$3.26M	1.57%	139,954	–	–
30	30 Veritex Holdings VBTX $1.88B	$3.02M	1.45%	188,372	–	–
31	31 Southern First Bancshares SFST $369M	$2.99M	1.43%	123,882 -35,638	-22%	-$859K
32	32 Civista Bancshares CIVB $409M	$2.62M	1.26%	200,000	–	–
33	GBNK 33 DELISTED Guaranty Bancorp GBNK	$2.54M	1.22%	+152,293	New	+$2.54M
34	CHMI 34 Cherry Hill Mortgage Investment Corp CHMI $103M	$2.26M	1.08%	144,900 -230,100	-61%	-$3.58M
35	35 Equity Bancshares EQBK $779M	$2.21M	1.06%	100,000	–	–
36	ENFC 36 DELISTED Entegra Financial Corp. ENFC	$1.89M	0.91%	108,282	–	–
37	37 Glen Burnie Bancorp GLBZ $12M	$1.11M	0.53%	103,619 -29,148	-22%	-$311K
38	CACB 38 DELISTED Cascade Bancorp CACB	$882K	0.42%	159,154	–	–
39	OLBK 39 DELISTED Old Line Bancshares, Inc. OLBK	$280K	0.13%	15,569 -217,751	-93%	-$3.92M
40	PFC 40 DELISTED Premier Financial Corp. Common Stock PFC	–	–	-118,136	Closed	-$4.54M
41	CNBKA 41 DELISTED Century Bancorp Inc/Mass CNBKA	–	–	-30,542	Closed	-$1.19M
42	CWAY 42 DELISTED Coastway Bancorp, Inc. CWAY	–	–	-309,592	Closed	-$3.88M
43	BYLK 43 DELISTED BAYLAKE CORP BYLK	–	–	-163,389	Closed	-$2.61M
44	HEOP 44 DELISTED Heritage Oaks Bancorp HEOP	–	–	-39,400	Closed	-$307K