UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
SCHEDULE 13G
 
Under the Securities Exchange Act of 1934


SB One Bancorp
(Name of Issuer)
Common Stock, no par value
(Title of Class of Securities)
78413T103
(CUSIP Number)

October 4, 2018
(Date of Event which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☐ Rule 13d-1(b)
ý Rule 13d-1(c)
☐ Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
 
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
 
 
CUSIP No. 78413T103
13G
 
1
NAMES OF REPORTING PERSONS
 
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
 
EJF Capital LLC
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
    
(a)☐
    
(b)☒
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
Delaware
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
 
 
0
 
 
 
 
6
SHARED VOTING POWER
 
 
437,225
 
 
 
 
7
SOLE DISPOSITIVE POWER
 
 
0
 
 
 
 
8
SHARED DISPOSITIVE POWER
 
 
437,225
 
 
 
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
437,225
 
 
 
 
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
☐
 
 
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
 
5.5% (1)
 
 
 
 
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
IA
 
 
 
 
 
(1)
Based on 7,929,613 shares of common stock, no par value per share (“Common Stock”), outstanding as of August 2, 2018, as reflected in the Form 10-Q filed by the Issuer with the U.S. Securities and Exchange Commission (“SEC”) on August 9, 2018.
 
 
 
 
CUSIP No. 78413T103
13G
 
1
NAMES OF REPORTING PERSONS
 
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
 
Emanuel J. Friedman
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
    
(a)☐
    
(b)☒
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
United States
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
 
 
0
 
 
 
 
6
SHARED VOTING POWER
 
 
437,225
 
 
 
 
7
SOLE DISPOSITIVE POWER
 
 
0
 
 
 
 
8
SHARED DISPOSITIVE POWER
 
 
437,225
 
 
 
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
437,225
 
 
 
 
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
☐
 
 
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
 
5.5% (1)
 
 
 
 
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
IN
 
 
 
 
 
(1)
Based on 7,929,613 shares of Common Stock outstanding as of August 2, 2018, as reflected in the Form 10-Q filed by the Issuer with the SEC on August 9, 2018.
 
 
 
CUSIP No. 78413T103
13G
 
1
NAMES OF REPORTING PERSONS
 
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
 
EJF Financial Services Fund, LP
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
    
(a)☐
    
(b)☒
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
Delaware
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
 
 
0
 
 
 
 
6
SHARED VOTING POWER
 
 
436,076
 
 
 
 
7
SOLE DISPOSITIVE POWER
 
 
0
 
 
 
 
8
SHARED DISPOSITIVE POWER
 
 
436,076
 
 
 
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
436,076
 
 
 
 
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
☐
 
 
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
 
5.5% (1)
 
 
 
 
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
PN
 
 
 
 
 
(1)
Based on 7,929,613 shares of Common Stock outstanding as of August 2, 2018, as reflected in the Form 10-Q filed by the Issuer with the SEC on August 9, 2018.
 
 
 
 
CUSIP No. 78413T103
13G
 
1
NAMES OF REPORTING PERSONS
 
 
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
 
 
EJF Financial Services GP, LLC
 
 
 
 
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
    
(a)☐
    
(b)☒
 
 
3
SEC USE ONLY
 
 
 
 
 
 
 
4
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
Delaware
 
 
 
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5
SOLE VOTING POWER
 
 
0
 
 
 
 
6
SHARED VOTING POWER
 
 
436,076
 
 
 
 
7
SOLE DISPOSITIVE POWER
 
 
0
 
 
 
 
8
SHARED DISPOSITIVE POWER
 
 
436,076
 
 
 
 
9
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 
436,076
 
 
 
 
10
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
 
 
☐
 
 
 
 
11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
 
 
5.5% (1)
 
 
 
 
12
TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
 
 
OO
 
 
 
 
 
(1)
Based on 7,929,613 shares of Common Stock outstanding as of August 2, 2018, as reflected in the Form 10-Q filed by the Issuer with the SEC on August 9, 2018.
 
 
Item 1. (a)        Name of Issuer

SB One Bancorp

Item 1. (b)        Address of Issuer’s Principal Executive Offices

100 Enterprise Drive, Suite 700
 Rockaway, New Jersey  07866
 
Item 2. (a)        Name of Person Filing

This Schedule 13G is being filed on behalf of the following persons (the “Reporting Persons”)*:

(i)
  EJF Capital LLC;
(ii)
  Emanuel J. Friedman;
(iv)
EJF Financial Services Fund, LP (the “Financial Services Fund”); and
(v)
  EJF Financial Services GP, LLC.

*Attached as Exhibit A is a copy of an agreement among the Reporting Persons that this Schedule 13G is being filed on behalf of each of them.
 
Item 2. (b)        Address of Principal Business Office or, if None, Residence

The address of the principal business office of each Reporting Person is:

2107 Wilson Boulevard
Suite 410
Arlington, VA 22201
 
Item 2. (c)        Citizenship

See Item 4 of the attached cover pages.

Item 2. (d)        Title of Class of Securities

Common Stock, no par value per share per share (“Common Stock”)
 
Item 2. (e)        CUSIP Number

78413T103

Item 3.

Not Applicable.

Item 4.             Ownership
 
(a)
Amount beneficially owned:
   
 
See Item 9 of the attached cover pages.
   
(b)
Percent of class:
   
 
See Item 11 of the attached cover pages.
   
(c)
Number of shares as to which such person has:
   
 
(i)
Sole power to vote or to direct the vote:
     
   
See Item 5 of the attached cover pages.
     
 
(ii)
Shared power to vote or to direct the vote:
     
   
See Item 6 of the attached cover pages.
     
 
(iii)
Sole power to dispose or to direct the disposition:
     
   
See Item 7 of the attached cover pages.
     
 
(iv)
Shared power to dispose or to direct the disposition:
     
   
See Item 8 of the attached cover pages.

The Financial Services Fund is the record owner of the number of shares of Common Stock shown on item 9 of its respective cover page.

EJF Financial Services GP, LLC is the general partner of the Financial Services Fund and an investment manager of certain affiliates thereof and may be deemed to share beneficial ownership of the shares of Common Stock of which the Financial Services Fund is the record owner. 

EJF Capital LLC is the sole member of EJF Financial Services GP, LLC and may be deemed to share beneficial ownership of the shares of Common Stock of which EJF Financial Services GP, LLC may share beneficial ownership.  EJF Capital LLC also serves as an investment adviser to managed accounts that are the record owners of shares of Common Stock and may be deemed to share beneficial ownership of such shares of Common Stock.

Emanuel J. Friedman is the controlling member of EJF Capital LLC and may be deemed to share beneficial ownership of the shares of Common Stock over which EJF Capital LLC may share beneficial ownership.
 
Item 5.            Ownership of Five Percent or Less of a Class

Not Applicable.

Item 6.            Ownership of More than Five Percent on Behalf of Another Person

Not Applicable.

Item 7.            Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company

Not Applicable.

Item 8.            Identification and Classification of Members of the Group

Not Applicable.

Item 9.            Notice of Dissolution of Group

Not Applicable.

Item 10.         Certification

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
 
 
SIGNATURE


After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Dated:  October 15, 2018
 
 
EJF CAPITAL LLC
  
     
 
By:
/s/ Neal J. Wilson
  
 
Name:
Neal J. Wilson
  
  Title:  Chief Operating Officer   
 
 
 
 
EMANUEL J. FRIEDMAN
  
     
 
By:
/s/ Emanuel J. Friedman
  
 
Name:
Emanuel J. Friedman
  
 
 
 
 
EJF FINANCIAL SERVICES FUND, LP
  
     
  By:
EJF FINANCIAL SERVICES GP, LLC
  
 
Its:
General Partner
  
       
  By:
EJF CAPITAL LLC
  
  Its: 
Sole Member
  
       
 
By:
/s/ Neal J. Wilson
  
 
Name:
Neal J. Wilson
  
 
Title:
Chief Operating Officer
  

 
 
 
EJF FINANCIAL SERVICES GP, LLC
  
     
  By: EJF CAPITAL LLC  
 
Its:
Sole Member
  
       
 
By:
/s/ Neal J. Wilson
  
 
Name:
Neal J. Wilson
  
 
Title:
Chief Operating Officer
 
 
EXHIBIT A
 
The undersigned, EJF Capital LLC, a Delaware limited liability company, Emanuel J. Friedman, EJF Financial Services Fund, LP, a Delaware limited partnership, and EJF Financial Services GP, LLC, a Delaware limited liability company, hereby agree and acknowledge that the information required by this Schedule 13G, to which this Agreement is attached as an exhibit, is filed on behalf of each of them.  The undersigned further agree that any further amendments or supplements thereto shall also be filed on behalf of each of them.

Dated:  October 15, 2018
 
 
EJF CAPITAL LLC
  
     
 
By:
/s/ Neal J. Wilson
  
 
Name:
Neal J. Wilson
  
  Title:  Chief Operating Officer   
 
 
 
 
EMANUEL J. FRIEDMAN
  
     
 
By:
/s/ Emanuel J. Friedman
  
 
Name:
Emanuel J. Friedman
  
 
 
 
 
EJF FINANCIAL SERVICES FUND, LP
  
     
  By:
EJF FINANCIAL SERVICES GP, LLC
  
 
Its:
General Partner
  
       
  By:
EJF CAPITAL LLC
  
  Its: 
Sole Member
  
       
 
By:
/s/ Neal J. Wilson
  
 
Name:
Neal J. Wilson
  
 
Title:
Chief Operating Officer
  

 
 
 
EJF FINANCIAL SERVICES GP, LLC
  
     
  By: EJF CAPITAL LLC  
 
Its:
Sole Member
  
       
 
By:
/s/ Neal J. Wilson
  
 
Name:
Neal J. Wilson
  
 
Title:
Chief Operating Officer