BANC FUNDS CO LLC

CHICAGO, IL · CIK 1029311 · 13F filing filed 2026-08-13

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$605.5m reported value +12.7% vs Q1 2026

92positions

31.0%in top 10

5 new 19 added 28 reduced 10 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	OLD SECOND BANCORP INC ILL COM OSBC	OSBC	1,034,143	$24.1m3.98%	3.98%	Added +5.0k	+5,000 0.5%
2	Private Bancorp of America Inc COM PBAM	PBAM	313,859	$23.2m3.84%	3.84%	Added +4.0k	+4,000 1.3%
3	AVIDBANK HLDGS INC COM AVBH	AVBH	668,100	$22.1m3.64%	3.64%	Added +3.0k	+3,000 0.5%
4	UNITY BANCORP INC COM UNTY	UNTY	370,469	$21.7m3.59%	3.59%	Reduced -5.0k	-5,000 -1.3%
5	FIRST CAROLINA FINL SVCS INC COMMON STOCK FCBM	FCBM	1,338,750	$17.7m2.93%	2.93%	New
6	CALIFORNIA BANCORP COM BCAL	BCAL	816,155	$17.0m2.81%	2.81%	Reduced -15.0k	-15,000 -1.8%
7	American Business Bank COM AMBZ	AMBZ	229,173	$16.7m2.75%	2.75%	Reduced -16.6k	-16,600 -6.8%
8	FIRST BK WILLIAMSTOWN NEW JE COM FRBA	FRBA	864,205	$15.3m2.53%	2.53%	Unchanged
9	West Coast Community Bancorp COM WCCB	WCCB	301,420	$15.1m2.49%	2.49%	Added +24.8k	+24,769 8.9%
10	METROPOLITAN BK HLDG CORP COM MCB	MCB	147,221	$14.5m2.40%	2.40%	Added +5.0k	+5,000 3.5%
11	PRIMIS FINANCIAL CORP COM FRST	FRST	872,961	$14.3m2.36%	2.36%	Unchanged
12	MERCHANTS BANCORP IND COM MBIN	MBIN	285,062	$14.3m2.35%	2.35%	Added +4.0k	+4,000 1.4%
13	MAINSTREET BANCSHARES INC COM MNSB	MNSB	545,679	$13.5m2.23%	2.23%	Added +14.7k	+14,738 2.8%
14	PEAPACK-GLADSTONE FINL CORP COM PGC	PGC	273,947	$13.0m2.14%	2.14%	Unchanged
15	TEXAS CAP BANCSHARES INC COM TCBI	TCBI	119,762	$12.4m2.04%	2.04%	Unchanged
16	FIRST WESTN FINL INC COM MYFW	MYFW	342,404	$11.0m1.82%	1.82%	Reduced -6.0k	-6,000 -1.7%
17	ALERUS FINL CORP COM ALRS	ALRS	349,165	$10.9m1.79%	1.79%	Unchanged
18	BANC OF CALIFORNIA INC COM BANC	BANC	519,738	$10.6m1.75%	1.75%	Unchanged
19	CONNECTONE BANCORP INC COM CNOB	CNOB	310,195	$10.4m1.71%	1.71%	Unchanged
20	FIRST BUSINESS FINL SVCS INC COM FBIZ	FBIZ	163,224	$10.3m1.70%	1.70%	Reduced -3.0k	-3,000 -1.8%
21	SOUTHERN FIRST BANCSHARES COM SFST	SFST	162,655	$9.9m1.64%	1.64%	Reduced -9.0k	-9,000 -5.2%
22	Alpine Banks of Colorado COM ALPIB	ALPIB	204,321	$9.8m1.62%	1.62%	Unchanged
23	FIRSTSUN CAP BANCORP COM FSUN	FSUN	238,031	$9.2m1.52%	1.52%	Added +69.5k	+69,542 41.3%
24	INVESTAR HOLDING CORP COM ISTR	ISTR	306,896	$9.2m1.52%	1.52%	Unchanged
25	TRIUMPH FINANCIAL INC COM TFIN	TFIN	117,136	$8.9m1.48%	1.48%	Unchanged
26	COLONY BANKCORP INC COM CBAN	CBAN	441,478	$8.9m1.46%	1.46%	Added +22.0k	+22,000 5.2%
27	Coastal Carolina Bancshares, Inc. COMMON CCNB	CCNB	492,071	$8.3m1.37%	1.37%	Added +25.3k	+25,300 5.4%
28	MERIDIAN CORP COM MRBK	MRBK	382,533	$7.7m1.27%	1.27%	Added +13.2k	+13,200 3.6%
29	MERCANTILE BK CORP COM MBWM	MBWM	131,160	$7.5m1.24%	1.24%	Unchanged
30	CNB FINL CORP PA COM CCNE	CCNE	222,375	$7.5m1.24%	1.24%	Unchanged
31	MID PENN BANCORP INC COM MPB	MPB	207,982	$7.2m1.20%	1.20%	Unchanged
32	BUSINESS FIRST BANCSHARES IN COM BFST	BFST	234,257	$7.2m1.19%	1.19%	Unchanged
33	ORANGE CNTY BANCORP INC COM OBT	OBT	186,035	$6.8m1.13%	1.13%	Reduced -11.5k	-11,501 -5.8%
34	THIRD COAST BANCSHARES INC COM TCBX	TCBX	169,064	$6.8m1.13%	1.13%	Unchanged
35	BLUE RIDGE BANKSHARES INC VA COM BRBS	BRBS	1,889,033	$6.7m1.10%	1.10%	Unchanged
36	COMMUNITY WEST BANCSHARES COM COM		240,606	$6.5m1.07%	1.07%	New
37	BANK7 CORP COM BSVN	BSVN	128,519	$6.3m1.04%	1.04%	Unchanged
38	BURKE HERBERT FINL SVCS CORP COM BHRB	BHRB	82,374	$5.9m0.98%	0.98%	New
39	PRINCETON BANCORP INC COM BPRN	BPRN	153,926	$5.8m0.96%	0.96%	Unchanged
40	Studio Financial Holdings Inc COM STBK	STBK	429,056	$5.6m0.93%	0.93%	Unchanged
41	River City Bank COMMON RCBC	RCBC	128,354	$5.6m0.92%	0.92%	Added +26.8k	+26,764 26.4%
42	First Reliance Bancshares, Inc. COMMON FSRL	FSRL	297,472	$5.5m0.91%	0.91%	Reduced -43.8k	-43,841 -12.8%
43	BANKWELL FINL GROUP INC COM BWFG	BWFG	90,423	$5.3m0.88%	0.88%	Reduced -6.0k	-6,000 -6.2%
44	Bank of San Francisco COM BSFO	BSFO	117,072	$5.1m0.84%	0.84%	Added +2.0k	+2,000 1.7%
45	White River Bancshares Co NOT 13F SECURITY WRIV	WRIV	89,000	$4.9m0.80%	0.80%	Unchanged
46	SMARTFINANCIAL INC COM NEW SMBK	SMBK	97,626	$4.6m0.76%	0.76%	Reduced -52.5k	-52,461 -35.0%
47	CITIZENS CMNTY BANCORP INC M COM CZWI	CZWI	195,055	$4.6m0.75%	0.75%	Reduced -11.0k	-11,000 -5.3%
48	FIRST INTERNET BANCORP COM INBK	INBK	162,176	$4.5m0.74%	0.74%	Unchanged
49	South Atlantic Bancshares, Inc. COMMON SABK	SABK	175,596	$4.5m0.74%	0.74%	Reduced -3.8k	-3,800 -2.1%
50	Community Heritage Financial Inc. COM CMHF	CMHF	125,424	$4.5m0.74%	0.74%	Unchanged
51	AMERANT BANCORP INC CL A AMTB	AMTB	174,000	$4.4m0.73%	0.73%	Reduced -6.0k	-6,000 -3.3%
52	FIVE STAR BANCORP COM FSBC	FSBC	85,919	$4.2m0.69%	0.69%	Unchanged
53	Summit Bank Group, Inc. COM SBKO	SBKO	184,501	$4.1m0.68%	0.68%	Reduced -6.0k	-6,000 -3.1%
54	First Capital Bancshares, Inc. COMMON FCPB	FCPB	318,995	$4.1m0.67%	0.67%	Reduced -40.0k	-40,000 -11.1%
55	Oregon Pacific Bancorp COM ORPB	ORPB	361,932	$4.0m0.67%	0.67%	Unchanged
56	SIERRA BANCORP COM BSRR	BSRR	99,255	$4.0m0.67%	0.67%	Reduced -14.0k	-14,000 -12.4%
57	FVCBANKCORP INC COM FVCB	FVCB	214,088	$3.7m0.62%	0.62%	Unchanged
58	Blueharbor Bank COMMON BLHK	BLHK	87,402	$3.7m0.61%	0.61%	Reduced -9.0k	-9,000 -9.3%
59	PINNACLE FINL PARTNERS INC COM PNFP	PNFP	35,800	$3.6m0.60%	0.60%	Added +14.0k	+14,000 64.2%
60	MVB FINL CORP COM MVBF	MVBF	116,010	$3.4m0.56%	0.56%	Added +24.8k	+24,766 27.1%
61	FIRST BUSEY CORP COM NEW BUSE	BUSE	114,077	$3.4m0.56%	0.56%	Reduced -13.0k	-13,000 -10.2%
62	Endeavor Bancorp COMMON EDVR	EDVR	171,092	$3.3m0.54%	0.54%	Added +3.4k	+3,354 2.0%
63	HOME BANCSHARES INC COM HOMB	HOMB	112,099	$3.2m0.53%	0.53%	New
64	SHORE BANCSHARES INC COM SHBI	SHBI	136,243	$3.1m0.52%	0.52%	Reduced -59.3k	-59,320 -30.3%
65	SUMMIT ST BK SANTA ROSA CALI COM SSBI	SSBI	195,627	$2.7m0.44%	0.44%	Reduced -3.6k	-3,600 -1.8%
66	CAPITAL BANCORP INC MD COM CBNK	CBNK	75,300	$2.6m0.44%	0.44%	Unchanged
67	Commencement Bancorp, Inc. COMMON CBWA	CBWA	138,720	$2.4m0.40%	0.40%	Added +8.0k	+8,000 6.1%
68	EAGLE FINL SVCS INC COM EFSI	EFSI	56,500	$2.3m0.39%	0.39%	Reduced -8.5k	-8,500 -13.1%
69	COASTALSOUTH BANCSHARES INC COM NEW COSO	COSO	85,715	$2.3m0.38%	0.38%	Unchanged
70	American Riviera Bancorp COM ARBV	ARBV	89,380	$2.3m0.38%	0.38%	Unchanged
71	RENASANT CORP COM RNST	RNST	51,875	$2.2m0.36%	0.36%	Added +10.0k	+10,000 23.9%
72	FSBH CORP COM COM		135,250	$2.2m0.36%	0.36%	Unchanged
73	BRIDGEWATER BANCSHARES INC COM BWB	BWB	96,479	$2.0m0.34%	0.34%	Reduced -5.0k	-5,000 -4.9%
74	FB FINL CORP COM FBK	FBK	35,496	$2.0m0.32%	0.32%	Unchanged
75	USCB FINANCIAL HOLDINGS INC CLASS A COM USCB	USCB	95,580	$2.0m0.32%	0.32%	Unchanged
76	Lake Ridge Bancorp COMMON STOCK LRBI	LRBI	11,429	$1.7m0.28%	0.28%	Added +4.3k	+4,345 61.3%
77	F&M Bank Corp COMMON STOCK COMMON STOCK		47,100	$1.7m0.28%	0.28%	Unchanged
78	Grand River Commerce, Inc. COMMON GNRV	GNRV	304,400	$1.6m0.26%	0.26%	Reduced -53.0k	-53,000 -14.8%
79	Mission Valley Bancorp COMMON MVLY	MVLY	78,507	$1.5m0.25%	0.25%	Unchanged
80	TOWNEBANK PORTSMOUTH VA COM TOWN	TOWN	40,804	$1.5m0.24%	0.24%	Unchanged
81	BANCORP INC DEL COM TBBK	TBBK	23,592	$1.5m0.24%	0.24%	Unchanged
82	Pinnacle Bankshares Corporation COMMON STOCK PPBN	PPBN	25,464	$1.4m0.23%	0.23%	Reduced -12.0k	-12,000 -32.0%
83	SOMERSET T COMMON STOCK SOME	SOME	16,017	$1.2m0.20%	0.20%	Unchanged
84	Pacific West Bancorp Ord COM COM		92,857	$1.2m0.19%	0.19%	Unchanged
85	SouthPoint Bancshares, Inc. COMMON SOUB	SOUB	74,638	$1.1m0.17%	0.17%	Reduced -300	-300 -0.4%
86	Bancorp 34 Inc COM BCTF	BCTF	61,857	$951.7k0.16%	0.16%	Reduced -45.0k	-45,000 -42.1%
87	FIRST NATL CORP VA COM FXNC	FXNC	31,374	$941.8k0.16%	0.16%	Reduced -18.0k	-18,017 -36.5%
88	Pinnacle Bank COM PBNK	PBNK	44,514	$796.8k0.13%	0.13%	Unchanged
89	STOCK YDS BANCORP INC COM SYBT	SYBT	10,000	$764.7k0.13%	0.13%	New
90	BYLINE BANCORP INC COM BY	BY	19,682	$741.2k0.12%	0.12%	Reduced -14.5k	-14,475 -42.4%
91	BAYFIRST FINANCIAL CORP COM BAFN	BAFN	91,679	$458.4k0.08%	0.08%	Unchanged
92	Potomac Bancshares, Inc. COM PTBS	PTBS	12,432	$295.4k0.05%	0.05%	Unchanged

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
Mountain Commerce Bancorp Inc MCBI	MCBI	351,330	$8.0m351.3k shares
UNITED SEC BANCSHARES CALIF UBFO	UBFO	532,316	$5.6m532.3k shares
COMMERCE BANCSHARES INC CBSH	CBSH	86,774	$4.3m86.8k shares
FIRST NORTHN CMNTY BANCORP FNRN	FNRN	234,181	$3.7m234.2k shares
LINKBANCORP INC LNKB	LNKB	401,593	$3.3m401.6k shares
FIRST FNDTN INC FFWM	FFWM	432,396	$2.6m432.4k shares
PSB HLDGS INC WIS PSBQ	PSBQ	74,794	$2.1m74.8k shares
HANOVER BANCORP INC HNVR	HNVR	76,757	$1.7m76.8k shares
HERITAGE COMM CORP HTBK	HTBK	75,139	$937.7k75.1k shares
FIRST CMNTY CORP S C FCCO	FCCO	16,317	$476.9k16.3k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
Studio Financial Holdings Inc STBK · 13G · filed 2026-02-13	STBK	6.2%	new	13G	2026-02-13
MAINSTREET BANCSHARES INC MNSB · 13G · filed 2026-02-13	MNSB	5.6%≈ $10.4m		13G	2026-02-13
AVIDBANK HLDGS INC AVBH · 13G · filed 2026-02-13	AVBH	5.5%≈ $19.7m		13G	2026-02-13
Mountain Commerce Bancorp Inc MCBI · 13G · filed 2026-02-13	MCBI	5.5%		13G	2026-02-13
Grand River Commerce, Inc. GNRV · 13G · filed 2026-02-13	GNRV	5.1%		13G	2026-02-13