Leicestershire skipper Phil DeFreitas admitted his side had under-performed after seeing their hopes of a first one-day trophy since 1985 disappear at Trent Bridge.
They lost to Warwickshire by seven wickets in the Twenty20 Cup semi-finals after setting their opponents a victory target of 163.
"We worked so hard in winning all five games to get here and we are pretty disappointed with the way we performed.
"We were about 20 runs short and our all-round game was not up to standard today.
"Our fielding and bowling was pretty ordinary.
"It's a big occasion and it might have got to one or two people," DeFreitas said afterwards.
"Obviously it didn't get to Brad Hodge, who played superbly. Without him, goodness know what our score would have been."
DeFreitas was only able to bowl one over because of a groin injury and their attack struggled to contain the Warwickshire batsmen, with Virender Sehwag returning the best figures of 1-17 from his four overs.
But Hodge was their star performer on the day, hitting 66 off 50 balls and picking up the wicket of Ian Bell.
"I thought 160 was always going to be competitive but they were 40 off three overs and it was hard to pull that back," the Australian said.
"It was just not our day today but it's a great competition. The concept is great, it's good fun for everyone."