Banc Funds Co. LLC

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Banc Funds Co. LLC reported 127 stock positions worth $843.0 million. Its top holding was Old Second Bancorp (OSBC) at 3.5% of the portfolio, followed by Unity Bancorp (UNTY, 3.3%) and Triumph Financial (TFIN, 2.8%). Compared with Q1 2024, it opened 1 new position, sold out of 8, added to 25 and reduced 63. The biggest buy was a new position in Provident Financial Services (PFS) and the biggest sale an exit from Lakeland Bancorp (LBAI).

Most Recent 13F
Q2 2026
Location
CHICAGO, IL
CIK
0001029311
Portfolio Value
$843.0M (Q2 2024)
SEC Filing
0001029311-24-000003 ↗ filed Aug 14, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $884.7M Q1 2024 Q2 2024: $843.0M $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 Q2 2026

Holdings 127 stocks · $843.0M
OSBC Old Second Bancorp Inc. 3.47% 1,975,688 $29.3M Reduce -5.4%
UNTY Unity Bancorp Inc. 3.30% 941,044 $27.8M Reduce -4.0%
TFIN Triumph Financial Inc. 2.85% 293,743 $24.0M Reduce -3.5%
SSBK Southern States Bancshares 2.39% 742,653 $20.2M Add +1.0%
CFB Crossfirst Bankshares Inc. 2.28% 1,372,780 $19.2M Reduce -7.6%
FRBA First Bank/Hamilton NJ 2.27% 1,504,192 $19.2M Reduce -2.1%
FRST Primis Financial Corp. 2.14% 1,720,363 $18.0M Add +1.5%
FNBT Finemark Holdings Inc. 2.10% 726,844 $17.7M Reduce -11.8%
WCCB West Coast Community Bancorp 2.05% 497,827 $17.3M Reduce -9.7%
AMBZ American Business Bank 2.03% 560,335 $17.1M Reduce -3.5%
OBT Orange County Bancorp Inc. 1.95% 311,590 $16.5M Reduce -3.2%
FBIZ First Business Financial Ser 1.93% 439,530 $16.3M Reduce -4.0%
PGC Peapack Gladstone Finl Corp. 1.82% 675,799 $15.3M Reduce -4.3%
MBIN Merchants Bancorp 1.81% 377,115 $15.3M Reduce -9.5%
TCBI Texas Capital Bancshares Inc. 1.71% 236,005 $14.4M Reduce -3.4%
CALB California Bancorp Inc. 1.68% 659,297 $14.2M Add +16.8%
PBAM Private Bancorp of America I 1.63% 390,065 $13.7M Add +6.8%
MBWM Mercantile Bank Corp. 1.62% 337,344 $13.7M Reduce -14.5%
BANC Banc of California Inc. 1.60% 1,053,629 $13.5M Add +0.5%
SMBK Smartfinancial Inc. 1.57% 560,898 $13.3M Add +3.6%
AVBH Avidbank Holdings Inc. 1.56% 713,197 $13.2M No change
CBAN Colony Bankcorp 1.53% 1,055,392 $12.9M Reduce -1.3%
MYFW First Western Financial Inc. 1.52% 755,007 $12.8M Reduce -1.5%
SFST Southern First Bancshares 1.39% 401,243 $11.7M Add +0.5%
MNSB Mainstreet Bancshares Inc. 1.37% 651,014 $11.5M Add +7.1%
ALRS Alerus Financial Corp. 1.26% 543,586 $10.7M No change
BFST Business First Bancshares 1.26% 488,003 $10.6M Add +2.1%
BSVN BANK7 Corp. 1.25% 335,600 $10.5M Reduce -2.0%
TCBX Third Coast Bancshares Inc. 1.23% 487,654 $10.4M No change
BPRN Princeton Bancorp Inc. 1.21% 309,016 $10.2M No change
CCNE CNB Financial Corp. 1.20% 497,188 $10.1M No change
MCB Metropolitan Bank Holding Co. 1.20% 240,254 $10.1M Add +1.9%
MPB Mid Penn Bancorp Inc. 1.20% 459,827 $10.1M No change
INBK First Internet Bancorp 1.17% 364,296 $9.8M No change
MCBI Mountain Commerce Bancorp Inc. 1.16% 580,595 $9.8M No change
ALPIB Alpine Banks of Colorado-B 1.15% 355,966 $9.7M Reduce -14.7%
BSRR Sierra Bancorp 1.14% 430,428 $9.6M Reduce -1.4%
ISTR Investar Holding Corp. 1.11% 609,617 $9.4M No change
CNOB Connectone Bancorp Inc. 1.08% 484,086 $9.1M Add +1.3%
FFWM First Foundation Inc. 1.05% 1,353,054 $8.9M No change
MRBK Meridian Corp. 0.99% 791,703 $8.3M Add +0.8%
PFS Provident Financial Services 0.97% 567,451 $8.1M New
CZWI Citizens Community Bancorp I 0.93% 679,520 $7.9M Reduce -9.6%
FSUN Firstsun Capital Bancorp 0.92% 222,396 $7.7M No change
FNRN First Northern Community Ban 0.91% 850,537 $7.7M Reduce -0.7%
FETM Fentura Financial Inc. 0.86% 322,749 $7.3M No change
BWFG Bankwell Financial Group Inc. 0.85% 282,623 $7.2M No change
UBAB United Bancorporation Alab-A 0.79% 138,522 $6.7M Reduce -4.9%
VBTX Veritex Holdings Inc. 0.75% 301,000 $6.3M Add +2.7%
CBOBA Bay Community Bancorp 0.73% 480,244 $6.2M Reduce -3.6%
RCBC River City Bank 0.73% 22,168 $6.1M Reduce -4.3%
ARBV American Riviera Bancorp 0.73% 369,746 $6.1M Reduce -2.9%
SHBI Shore Bancshares Inc. 0.69% 504,836 $5.8M Add +4.1%
PSBQ PSB Holdings Inc. filed as PSB HLDGS INC WIS 0.68% 280,956 $5.7M Reduce -10.9%
LNKB Linkbancorp Inc. 0.64% 875,241 $5.4M Reduce -7.2%
SABK South Atlantic Bancshares 0.60% 405,180 $5.0M Reduce -2.3%
COSO Coastal South Bancshares Inc. 0.58% 292,973 $4.9M Reduce -2.3%
CATC Cambridge Bancorp 0.58% 71,044 $4.9M Reduce -10.0%
BCAL California Bancorp filed as SOUTHERN CALIF BANCORP 0.58% 363,905 $4.9M Add +47.5%
PMHG Prime Meridian Holding Co. 0.58% 219,076 $4.9M Reduce -7.1%
ORPB Oregon Pacific Bancorp 0.55% 661,386 $4.6M No change
FSRL First Reliance Bancshares Inc. 0.53% 560,584 $4.4M Reduce -1.4%
TRBK Traditions Bancorp Inc. 0.49% 260,395 $4.2M Add +3.2%
SSBI Summit State Bank 0.49% 439,395 $4.2M No change
FGFH Foresight Financial Group 0.48% 142,598 $4.1M No change
UBFO United Security Bancshare 0.48% 559,227 $4.1M No change
FCPB First Capital Bancshares Inc. 0.47% 401,577 $3.9M Reduce -3.1%
FSBC Five Star Bancorp 0.45% 161,919 $3.8M Reduce -6.3%
WRIV White River Bancshares Co. 0.45% 70,161 $3.8M Add +63.6%
HANOVER BANCORP INC/NY 0.45% 228,440 $3.8M No change
HTBK Heritage Commerce Corp. 0.44% 428,639 $3.7M Reduce -25.3%
CMHF Community Heritage Financial 0.43% 203,558 $3.7M Reduce -1.4%
MFGI Merchants Financial Group Inc. 0.41% 145,948 $3.5M Reduce -31.5%
FVCB Fvcbankcorp Inc. 0.39% 297,221 $3.2M No change
FCCO First Community Corp. 0.38% 185,975 $3.2M Reduce -1.5%
SOUB Southpoint Bancshares Inc. 0.38% 109,704 $3.2M No change
BRBS Blue Ridge Bankshares Inc. 0.37% 1,186,722 $3.1M Add +5.3%
FISB 1ST Capital Bancorp 0.36% 250,658 $3.0M Reduce -6.0%
STBK Studio Financial Holdings Inc. 0.36% 310,574 $3.0M Add +0.5%
CCNB Coastal Carolina Bancshares 0.33% 309,492 $2.8M Reduce -0.8%
DCOM Dime Commercial Bancshares I filed as DIME CMNTY BANCSHARES INC 0.33% 136,261 $2.8M No change
BY Byline Bancorp Inc. 0.33% 115,582 $2.7M Reduce -66.3%
NWYF Northway Financial Inc. 0.32% 149,738 $2.7M Reduce -3.4%
CBWA Commencement Bancorp Inc. 0.32% 274,560 $2.7M No change
FXNC First National Corp. 0.31% 174,171 $2.6M Reduce -4.4%
SBT Sterling Bancorp Inc. 0.31% 502,061 $2.6M No change
HBT HBT Financial Inc. 0.31% 127,093 $2.6M Reduce -22.8%
EBTC Enterprise Bancorp Inc. 0.30% 101,004 $2.5M Reduce -32.2%
MVLY Mission Valley Bancorp 0.27% 168,242 $2.3M Reduce -10.8%
PPBN Pinnacle Bankshares Corp. 0.26% 79,682 $2.2M Reduce -2.5%
MCHN McHenry Bancorp Inc. 0.26% 60,000 $2.2M No change
BLHK Blueharbor Bank 0.26% 106,602 $2.2M Reduce -10.6%
USCB Uscb Financial Holdings Inc. 0.25% 166,330 $2.1M Reduce -20.7%
SAMG Silvercrest Asset Manageme-A 0.24% 130,918 $2.0M Reduce -28.6%
MVBF MVB Financial Corp. 0.24% 109,189 $2.0M Add +13.2%
FCOB 1ST Colonial Bancorp Inc. 0.23% 124,144 $1.9M Reduce -15.1%
SBNC Southern Bancshares Inc./N C 0.22% 317 $1.8M Reduce -59.4%
TRCY Tri City Bankshares Corp. 0.22% 171,041 $1.8M No change
FSBH FSBH Corp. 0.22% 234,250 $1.8M Add +32.9%
OVLY Oak Valley Bancorp filed as OAK VY BANCORP OAKDALE CALIF 0.21% 72,506 $1.8M Reduce -30.9%

Show all 127 holdings

Portfolio Sells Q1 2024 → Q2 2024
LBAI Lakeland Bancorp Inc. Sold out 0.00% −0.94
BY Byline Bancorp Inc. Reduce -66.3% 0.33% −0.52
AMBZ American Business Bank Reduce -3.5% 2.03% −0.40
CSTR Capstar Financial Holdings I Sold out 0.00% −0.34
SBNC Southern Bancshares Inc./N C Reduce -59.4% 0.22% −0.29
FNBT Finemark Holdings Inc. Reduce -11.8% 2.10% −0.25
MBIN Merchants Bancorp Reduce -9.5% 1.81% −0.22
OBK Origin Bancorp Inc. Reduce -57.6% 0.18% −0.22
PBNK Pinnacle Bank/Gilroy Ca Reduce -52.8% 0.21% −0.19
MFGI Merchants Financial Group Inc. Reduce -31.5% 0.41% −0.16
ALPIB Alpine Banks of Colorado-B Reduce -14.7% 1.15% −0.14
EBTC Enterprise Bancorp Inc. Reduce -32.2% 0.30% −0.14
PGC Peapack Gladstone Finl Corp. Reduce -4.3% 1.82% −0.13
FRBA First Bank/Hamilton NJ Reduce -2.1% 2.27% −0.11
HTBK Heritage Commerce Corp. Reduce -25.3% 0.44% −0.11
EQBK Equity Bancshares Inc. Class A Sold out 0.00% −0.11
LNKB Linkbancorp Inc. Reduce -7.2% 0.64% −0.10
CZWI Citizens Community Bancorp I Reduce -9.6% 0.93% −0.10
MBWM Mercantile Bank Corp. Reduce -14.5% 1.62% −0.09
IIIV I3 Verticals Inc. Class A Sold out 0.00% −0.09
SAMG Silvercrest Asset Manageme-A Reduce -28.6% 0.24% −0.09
OVLY Oak Valley Bancorp Reduce -30.9% 0.21% −0.08
PSBQ PSB Holdings Inc. Reduce -10.9% 0.68% −0.08
VBFC Village Bank and Trust Finan Sold out 0.00% −0.07
HBT HBT Financial Inc. Reduce -22.8% 0.31% −0.05
CVLY Codorus Valley Bancorp Inc. Sold out 0.00% −0.05
CFB Crossfirst Bankshares Inc. Reduce -7.6% 2.28% −0.04
ESBS Es Bancshares Inc. Reduce -25.3% 0.17% −0.03
CSHX Cashmere Valley Bank Reduce -26.6% 0.09% −0.03
CATC Cambridge Bancorp Reduce -10.0% 0.58% −0.03
FCOB 1ST Colonial Bancorp Inc. Reduce -15.1% 0.23% −0.03
MVLY Mission Valley Bancorp Reduce -10.8% 0.27% −0.02
FOUR SHIFT4 Payments Inc. Class A Sold out 0.00% −0.02
FXNC First National Corp. Reduce -4.4% 0.31% −0.02
USCB Uscb Financial Holdings Inc. Reduce -20.7% 0.25% −0.02
BLHK Blueharbor Bank Reduce -10.6% 0.26% −0.01
CCNB Coastal Carolina Bancshares Reduce -0.8% 0.33% −0.01
FBIZ First Business Financial Ser Reduce -4.0% 1.93% −0.01
BKOR Oak Ridge Financial Services Reduce -10.8% 0.10% −0.01
AMFC Amb Financial Corp. Sold out 0.00% −0.01
MLGF Malaga Financial Corp. Reduce -9.2% 0.21% −0.01
BWB Bridgewater Bancshares Inc. Reduce -6.6% 0.19% −0.00
BORT Bank of Botetourt Buchanan V Reduce -7.6% 0.12% −0.00
NWYF Northway Financial Inc. Reduce -3.4% 0.32% −0.00
PPBN Pinnacle Bankshares Corp. Reduce -2.5% 0.26% −0.00
PMHG Prime Meridian Holding Co. Reduce -7.1% 0.58% +0.00
FSRL First Reliance Bancshares Inc. Reduce -1.4% 0.53% +0.00
BOTJ Bank of the James Financial Reduce -10.3% 0.08% +0.00
FCCO First Community Corp. Reduce -1.5% 0.38% +0.01
TCBI Texas Capital Bancshares Inc. Reduce -3.4% 1.71% +0.01

Portfolio Buys Q1 2024 → Q2 2024
PFS Provident Financial Services New 0.97% +0.97
SMBK Smartfinancial Inc. Add +3.6% 1.57% +0.29
CALB California Bancorp Inc. Add +16.8% 1.68% +0.28
SSBK Southern States Bancshares Add +1.0% 2.39% +0.24
PBAM Private Bancorp of America I Add +6.8% 1.63% +0.22
MCB Metropolitan Bank Holding Co. Add +1.9% 1.20% +0.17
WRIV White River Bancshares Co. Add +63.6% 0.45% +0.17
BCAL California Bancorp Add +47.5% 0.58% +0.17
MNSB Mainstreet Bancshares Inc. Add +7.1% 1.37% +0.12
MRBK Meridian Corp. Add +0.8% 0.99% +0.11
VBTX Veritex Holdings Inc. Add +2.7% 0.75% +0.07
FSBH FSBH Corp. Add +32.9% 0.22% +0.06
BFST Business First Bancshares Add +2.1% 1.26% +0.06
SHBI Shore Bancshares Inc. Add +4.1% 0.69% +0.06
SBKO Summit Bank Group Inc. Add +30.0% 0.19% +0.05
BCTF Bancorp 34 Inc. Add +14.0% 0.18% +0.04
CNOB Connectone Bancorp Inc. Add +1.3% 1.08% +0.03
BRBS Blue Ridge Bankshares Inc. Add +5.3% 0.37% +0.02
BCBP BCB Bancorp Inc. Add +1.5% 0.10% +0.01
STBK Studio Financial Holdings Inc. Add +0.5% 0.36% +0.00
MVBF MVB Financial Corp. Add +13.2% 0.24% −0.00
TRBK Traditions Bancorp Inc. Add +3.2% 0.49% −0.01
EDVR Endeavor Bancorp Add +2.0% 0.07% −0.01
SFST Southern First Bancshares Add +0.5% 1.39% −0.04
FRST Primis Financial Corp. Add +1.5% 2.14% −0.19
BANC Banc of California Inc. Add +0.5% 1.60% −0.20

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