Banc Funds Co. LLC

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 13, 2026), Banc Funds Co. LLC reported 92 stock positions worth $605.5 million. Its top holding was Old Second Bancorp (OSBC) at 4.0% of the portfolio, followed by Private Bancorp of America I (PBAM, 3.8%) and Avidbank (AVBH, 3.6%). Compared with Q1 2026, it opened 5 new positions, sold out of 10, added to 19 and reduced 28. The biggest buy was a new position in First Carolina Financial Ser (FCBM) and the biggest sale an exit from Mountain Commerce Bancorp (MCBI).

Most Recent 13F
Q2 2026
Location
CHICAGO, IL
CIK
0001029311
Portfolio Value
$605.5M (Q2 2026)
SEC Filing
0001029311-26-000048 ↗ filed Aug 13, 2026

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $884.7M Q1 2024 Q2 2024: $843.0M Q2 2024 Q3 2024: $921.4M Q3 2024 Q4 2024: $906.6M Q4 2024 Q1 2025: $758.5M Q1 2025 Q2 2025: $661.6M Q2 2025 Q3 2025: $572.0M Q3 2025 Q4 2025: $505.2M Q4 2025 Q1 2026: $537.2M Q1 2026 Q2 2026: $605.5M $605.5M Q2 2026

Holdings 92 stocks · $605.5M
OSBC Old Second Bancorp Inc. 3.98% 1,034,143 $24.1M Add +0.5%
PBAM Private Bancorp of America I 3.84% 313,859 $23.2M Add +1.3%
AVBH Avidbank Holdings Inc. 3.64% 668,100 $22.1M Add +0.5%
UNTY Unity Bancorp Inc. 3.59% 370,469 $21.7M Reduce -1.3%
FCBM First Carolina Financial Ser 2.93% 1,338,750 $17.7M New
BCAL California Bancorp 2.81% 816,155 $17.0M Reduce -1.8%
AMBZ American Business Bank 2.75% 229,173 $16.7M Reduce -6.8%
FRBA First Bank/Hamilton NJ 2.53% 864,205 $15.3M No change
WCCB West Coast Community Bancorp 2.49% 301,420 $15.1M Add +8.9%
MCB Metropolitan Bank Holding Co. 2.40% 147,221 $14.5M Add +3.5%
FRST Primis Financial Corp. 2.36% 872,961 $14.3M No change
MBIN Merchants Bancorp 2.35% 285,062 $14.3M Add +1.4%
MNSB Mainstreet Bancshares Inc. 2.23% 545,679 $13.5M Add +2.8%
PGC Peapack Gladstone Finl Corp. 2.14% 273,947 $13.0M No change
TCBI Texas Capital Bancshares Inc. 2.04% 119,762 $12.4M No change
MYFW First Western Financial Inc. 1.82% 342,404 $11.0M Reduce -1.7%
ALRS Alerus Financial Corp. 1.79% 349,165 $10.9M No change
BANC Banc of California Inc. 1.75% 519,738 $10.6M No change
CNOB Connectone Bancorp Inc. 1.71% 310,195 $10.4M No change
FBIZ First Business Financial Ser 1.70% 163,224 $10.3M Reduce -1.8%
SFST Southern First Bancshares 1.64% 162,655 $9.9M Reduce -5.2%
ALPIB Alpine Banks of Colorado-B 1.62% 204,321 $9.8M No change
FSUN Firstsun Capital Bancorp 1.52% 238,031 $9.2M Add +41.3%
ISTR Investar Holding Corp. 1.52% 306,896 $9.2M No change
TFIN Triumph Financial Inc. 1.48% 117,136 $8.9M No change
CBAN Colony Bankcorp 1.46% 441,478 $8.9M Add +5.2%
CCNB Coastal Carolina Bancshares 1.37% 492,071 $8.3M Add +5.4%
MRBK Meridian Corp. 1.27% 382,533 $7.7M Add +3.6%
MBWM Mercantile Bank Corp. 1.24% 131,160 $7.5M No change
CCNE CNB Financial Corp. 1.24% 222,375 $7.5M No change
MPB Mid Penn Bancorp Inc. 1.20% 207,982 $7.2M No change
BFST Business First Bancshares 1.19% 234,257 $7.2M No change
OBT Orange County Bancorp Inc. 1.13% 186,035 $6.8M Reduce -5.8%
TCBX Third Coast Bancshares Inc. 1.13% 169,064 $6.8M No change
BRBS Blue Ridge Bankshares Inc. 1.10% 1,889,033 $6.7M No change
CWBC Community West Bancshares 1.07% 240,606 $6.5M New
BSVN BANK7 Corp. 1.04% 128,519 $6.3M No change
BHRB Burke & Herbert Financial SE 0.98% 82,374 $5.9M New
BPRN Princeton Bancorp Inc. 0.96% 153,926 $5.8M No change
STBK Studio Financial Holdings Inc. 0.93% 429,056 $5.6M No change
RCBC River City Bank 0.92% 128,354 $5.6M Add +26.4%
FSRL First Reliance Bancshares Inc. 0.91% 297,472 $5.5M Reduce -12.8%
BWFG Bankwell Financial Group Inc. 0.88% 90,423 $5.3M Reduce -6.2%
BSFO Bank of San Francisco 0.84% 117,072 $5.1M Add +1.7%
WRIV White River Bancshares Co. 0.80% 89,000 $4.9M No change
SMBK Smartfinancial Inc. 0.76% 97,626 $4.6M Reduce -35.0%
CZWI Citizens Community Bancorp I 0.75% 195,055 $4.6M Reduce -5.3%
INBK First Internet Bancorp 0.74% 162,176 $4.5M No change
SABK South Atlantic Bancshares 0.74% 175,596 $4.5M Reduce -2.1%
CMHF Community Heritage Financial 0.74% 125,424 $4.5M No change
AMTB Amerant Bancorp Inc. 0.73% 174,000 $4.4M Reduce -3.3%
FSBC Five Star Bancorp 0.69% 85,919 $4.2M No change
SBKO Summit Bank Group Inc. 0.68% 184,501 $4.1M Reduce -3.1%
FCPB First Capital Bancshares Inc. 0.67% 318,995 $4.1M Reduce -11.1%
ORPB Oregon Pacific Bancorp 0.67% 361,932 $4.0M No change
BSRR Sierra Bancorp 0.67% 99,255 $4.0M Reduce -12.4%
FVCB Fvcbankcorp Inc. 0.62% 214,088 $3.7M No change
BLHK Blueharbor Bank 0.61% 87,402 $3.7M Reduce -9.3%
PNFP Pinnacle Financial Partners 0.60% 35,800 $3.6M Add +64.2%
MVBF MVB Financial Corp. 0.56% 116,010 $3.4M Add +27.1%
BUSE First Busey Corp. 0.56% 114,077 $3.4M Reduce -10.2%
EDVR Endeavor Bancorp 0.54% 171,092 $3.3M Add +2.0%
HOMB Home Bancshares Inc. 0.53% 112,099 $3.2M New
SHBI Shore Bancshares Inc. 0.52% 136,243 $3.1M Reduce -30.3%
SSBI Summit State Bank 0.44% 195,627 $2.7M Reduce -1.8%
CBNK Capital Bancorp Inc. 0.44% 75,300 $2.6M No change
CBWA Commencement Bancorp Inc. 0.40% 138,720 $2.4M Add +6.1%
EFSI Eagle Financial Services Inc. 0.39% 56,500 $2.3M Reduce -13.1%
COSO Coastal South Bancshares Inc. 0.38% 85,715 $2.3M No change
ARBV American Riviera Bancorp 0.38% 89,380 $2.3M No change
RNST Renasant Corp. 0.36% 51,875 $2.2M Add +23.9%
FSBH FSBH Corp. 0.36% 135,250 $2.2M No change
BWB Bridgewater Bancshares Inc. 0.34% 96,479 $2.0M Reduce -4.9%
FBK FB Financial Corp. filed as FB FINL CORP 0.32% 35,496 $2.0M No change
USCB Uscb Financial Holdings Inc. 0.32% 95,580 $2.0M No change
LRBI Lake Ridge Bancorp Inc. 0.28% 11,429 $1.7M Add +61.3%
F&M Bank Corp 0.28% 47,100 $1.7M No change
GNRV Grand River Commerce Inc. 0.26% 304,400 $1.6M Reduce -14.8%
MVLY Mission Valley Bancorp 0.25% 78,507 $1.5M No change
TOWN Towne Bank 0.24% 40,804 $1.5M No change
TBBK The Bancorp Inc. 0.24% 23,592 $1.5M No change
PPBN Pinnacle Bankshares Corp. 0.23% 25,464 $1.4M Reduce -32.0%
SOME Somerset Trust Holding Co. 0.20% 16,017 $1.2M No change
PWBK Pacific West Bancorp 0.19% 92,857 $1.2M No change
SOUB Southpoint Bancshares Inc. 0.17% 74,638 $1.1M Reduce -0.4%
BCTF Bancorp 34 Inc. 0.16% 61,857 $952K Reduce -42.1%
FXNC First National Corp. 0.16% 31,374 $942K Reduce -36.5%
PBNK Pinnacle Bank/Gilroy Ca 0.13% 44,514 $797K No change
SYBT Stock Yards Bancorp Inc. 0.13% 10,000 $765K New
BY Byline Bancorp Inc. 0.12% 19,682 $741K Reduce -42.4%
BAFN Bayfirst Financial Corp. 0.08% 91,679 $458K No change
PTBS Potomac Bancshares Inc. 0.05% 12,432 $295K No change

Portfolio Sells Q1 2026 → Q2 2026
MCBI Mountain Commerce Bancorp Inc. Sold out 0.00% −1.49
UBFO United Security Bancshare Sold out 0.00% −1.04
CBSH Commerce Bancshares Inc. Sold out 0.00% −0.79
FNRN First Northern Community Ban Sold out 0.00% −0.69
LNKB Linkbancorp Inc. Sold out 0.00% −0.62
AMBZ American Business Bank Reduce -6.8% 2.75% −0.49
FFWM First Foundation Inc. Sold out 0.00% −0.47
PSBQ PSB Holdings Inc. Sold out 0.00% −0.39
SMBK Smartfinancial Inc. Reduce -35.0% 0.76% −0.34
HNVR Hanover Bancorp Inc. Sold out 0.00% −0.31
HTBK Heritage Commerce Corp. Sold out 0.00% −0.17
SHBI Shore Bancshares Inc. Reduce -30.3% 0.52% −0.16
FCPB First Capital Bancshares Inc. Reduce -11.1% 0.67% −0.15
BCTF Bancorp 34 Inc. Reduce -42.1% 0.16% −0.14
BLHK Blueharbor Bank Reduce -9.3% 0.61% −0.10
SFST Southern First Bancshares Reduce -5.2% 1.64% −0.10
PPBN Pinnacle Bankshares Corp. Reduce -32.0% 0.23% −0.09
FXNC First National Corp. Reduce -36.5% 0.16% −0.09
FCCO First Community Corp. Sold out 0.00% −0.09
BY Byline Bancorp Inc. Reduce -42.4% 0.12% −0.08
SSBI Summit State Bank Reduce -1.8% 0.44% −0.06
BSRR Sierra Bancorp Reduce -12.4% 0.67% −0.05
OBT Orange County Bancorp Inc. Reduce -5.8% 1.13% −0.05
BUSE First Busey Corp. Reduce -10.2% 0.56% −0.04
EFSI Eagle Financial Services Inc. Reduce -13.1% 0.39% −0.04
UNTY Unity Bancorp Inc. Reduce -1.3% 3.59% −0.03
SOUB Southpoint Bancshares Inc. Reduce -0.4% 0.17% −0.02
SABK South Atlantic Bancshares Reduce -2.1% 0.74% −0.02
GNRV Grand River Commerce Inc. Reduce -14.8% 0.26% −0.01
SBKO Summit Bank Group Inc. Reduce -3.1% 0.68% −0.01
CZWI Citizens Community Bancorp I Reduce -5.3% 0.75% −0.01
AMTB Amerant Bancorp Inc. Reduce -3.3% 0.73% −0.01
BWB Bridgewater Bancshares Inc. Reduce -4.9% 0.34% +0.00
BWFG Bankwell Financial Group Inc. Reduce -6.2% 0.88% +0.01
FSRL First Reliance Bancshares Inc. Reduce -12.8% 0.91% +0.02
FBIZ First Business Financial Ser Reduce -1.8% 1.70% +0.03
BCAL California Bancorp Reduce -1.8% 2.81% +0.07
MYFW First Western Financial Inc. Reduce -1.7% 1.82% +0.22

Portfolio Buys Q1 2026 → Q2 2026
FCBM First Carolina Financial Ser New 2.93% +2.93
CWBC Community West Bancshares New 1.07% +1.07
BHRB Burke & Herbert Financial SE New 0.98% +0.98
HOMB Home Bancshares Inc. New 0.53% +0.53
FSUN Firstsun Capital Bancorp Add +41.3% 1.52% +0.38
PNFP Pinnacle Financial Partners Add +64.2% 0.60% +0.25
MCB Metropolitan Bank Holding Co. Add +3.5% 2.40% +0.20
CCNB Coastal Carolina Bancshares Add +5.4% 1.37% +0.16
MVBF MVB Financial Corp. Add +27.1% 0.56% +0.13
RCBC River City Bank Add +26.4% 0.92% +0.13
SYBT Stock Yards Bancorp Inc. New 0.13% +0.13
OSBC Old Second Bancorp Inc. Add +0.5% 3.98% +0.12
AVBH Avidbank Holdings Inc. Add +0.5% 3.64% +0.12
LRBI Lake Ridge Bancorp Inc. Add +61.3% 0.28% +0.11
MBIN Merchants Bancorp Add +1.4% 2.35% +0.11
RNST Renasant Corp. Add +23.9% 0.36% +0.08
WCCB West Coast Community Bancorp Add +8.9% 2.49% +0.04
BSFO Bank of San Francisco Add +1.7% 0.84% +0.04
EDVR Endeavor Bancorp Add +2.0% 0.54% +0.03
MNSB Mainstreet Bancshares Inc. Add +2.8% 2.23% +0.03
CBWA Commencement Bancorp Inc. Add +6.1% 0.40% −0.01
MRBK Meridian Corp. Add +3.6% 1.27% −0.04
PBAM Private Bancorp of America I Add +1.3% 3.84% −0.09
CBAN Colony Bankcorp Add +5.2% 1.46% −0.09

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 92$605.5MOSBC, PBAM, AVBH, UNTY, FCBM
Q1 2026 97$537.2MPBAM, OSBC, UNTY, AVBH, AMBZ
Q4 2025 98$505.2MUNTY, OSBC, AMBZ, PBAM, AVBH
Q3 2025 111$572.0MUNTY, OSBC, AVBH, PBAM, AMBZ
Q2 2025 115$661.6MUNTY, FNBT, OSBC, PBAM, BCAL
Q1 2025 118$758.5MUNTY, SSBK, AMBZ, OSBC, PBAM
Q4 2024 121$906.6MUNTY, OSBC, AMBZ, SSBK, PBAM
Q3 2024 125$921.4MUNTY, OSBC, FRBA, SSBK, AMBZ
Q2 2024 127$843.0MOSBC, UNTY, TFIN, SSBK, CFB
Q1 2024 134$884.7MOSBC, UNTY, TFIN, AMBZ, FRBA