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Filing Details

Accession Number:: 0001019973-10-000009
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-03-22 13:00:00
Reporting Period:: 2010-03-19

Filing Date:: 2010-03-22
Accepted Time:: 2010-03-22 07:56:53
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
840216	California Coastal Communities Inc	CALC	Operative Builders (1531)	020426634

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1019973	D Eric Hovde	1826 Jefferson Place Nw Washington DC 20036		No	No	Yes	No
1476438	Financial Institution Partners Master Fund, Lp	1826 Jefferson Place, Nw Washington DC 20036		No	No	Yes	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2010-03-19	30,000	$1.14	1,645,000	No	4	P	Indirect	Footnote
Common Stock	Acquisiton	2010-03-19	26,010	$1.14	1,425,793	No	4	P	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	Footnote
No	4	P	Direct

Footnotes

This Form 4 relates to shares of common stock, $0.05 par value (the "Shares") of California Coastal Communities, Inc. ("Issuer"), owned by Financial Institution Partners Master Fund, L.P. (the "FIP Master Fund"), Financial Institution Partners III, L.P. ("FIPIII"), or Financial Institution Partners IV, L.P. ("FIPIV"; together with FIP Master Fund and FIPIII, the "Funds"), which Shares may be deemed to be beneficially owned by Eric D. Hovde ("EDH"). EDH is a managing member ("MM") of Hovde Capital Advisors LLC ("HCA"), a registered investment advisor that provides investment management services to each of the Funds. EDH is a MM of Hovde Capital I, LLC ("HC1"), the general partner to FIP Master Fund; EDH is a MM of Hovde Capital, Ltd. ("HCLTD"), the general partner to FIPIII; and EDH is a MM of Hovde Capital Limited IV LLC ("HCLTDIV"), the general partner to FIPIV.
Each Reporting Person disclaims beneficial ownership of the Shares reported herein except to the extent of his or its pecuniary interest therein, and this report shall not be deemed an admission of beneficial ownership of such Shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended or for any other purpose.
These shares are included in the transaction reported in the immediately preceding row and do not represent a separate transaction.
As of the date of the transaction reported herein, FIP Master Fund, was the direct owner of 1,425,793 Shares; FIPIII, was the direct owner of 174,527 Shares; and FIPIV, was the direct owner of 44,680 Shares.