Banc Funds Co. LLC

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Banc Funds Co. LLC reported 125 stock positions worth $921.4 million. Its top holding was Unity Bancorp (UNTY) at 3.1% of the portfolio, followed by Old Second Bancorp (OSBC, 3.0%) and First Bank/Hamilton NJ (FRBA, 2.5%). Compared with Q2 2024, it opened 5 new positions, sold out of 7, added to 15 and reduced 68. The biggest buy was California Bancorp (BCAL, shares +288%) and the biggest sale an exit from California Bancorp (CALB).

Most Recent 13F
Q2 2026
Location
CHICAGO, IL
CIK
0001029311
Portfolio Value
$921.4M (Q3 2024)
SEC Filing
0001029311-24-000008 ↗ filed Nov 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 Q2 2024 Q3 2024: $921.4M $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 125 stocks · $921.4M
UNTY Unity Bancorp Inc. 3.11% 840,044 $28.6M Reduce -10.7%
OSBC Old Second Bancorp Inc. 2.97% 1,754,288 $27.3M Reduce -11.2%
FRBA First Bank/Hamilton NJ 2.48% 1,504,192 $22.9M No change
SSBK Southern States Bancshares 2.39% 717,213 $22.0M Reduce -3.4%
AMBZ American Business Bank 2.35% 570,335 $21.6M Add +1.8%
TFIN Triumph Financial Inc. 2.28% 264,243 $21.0M Reduce -10.0%
BCAL California Bancorp 2.27% 1,412,186 $20.9M Add +288.1%
FRST Primis Financial Corp. 2.27% 1,713,963 $20.9M Reduce -0.4%
FNBT Finemark Holdings Inc. 2.09% 726,244 $19.2M Reduce -0.1%
PBAM Private Bancorp of America I 2.01% 411,565 $18.5M Add +5.5%
FBIZ First Business Financial Ser 1.99% 401,626 $18.3M Reduce -8.6%
WCCB West Coast Community Bancorp 1.97% 466,527 $18.2M Reduce -6.3%
MBIN Merchants Bancorp 1.90% 389,615 $17.5M Add +3.3%
OBT Orange County Bancorp Inc. 1.88% 287,872 $17.4M Reduce -7.6%
PGC Peapack Gladstone Finl Corp. 1.79% 602,799 $16.5M Reduce -10.8%
TCBI Texas Capital Bancshares Inc. 1.79% 231,205 $16.5M Reduce -2.0%
CFB Crossfirst Bankshares Inc. 1.75% 964,090 $16.1M Reduce -29.8%
BANC Banc of California Inc. 1.68% 1,053,629 $15.5M No change
CBAN Colony Bankcorp 1.66% 983,813 $15.3M Reduce -6.8%
SMBK Smartfinancial Inc. 1.63% 514,713 $15.0M Reduce -8.2%
MYFW First Western Financial Inc. 1.57% 722,320 $14.4M Reduce -4.3%
AVBH Avidbank Holdings Inc. 1.51% 713,197 $13.9M No change
MBWM Mercantile Bank Corp. 1.45% 305,847 $13.4M Reduce -9.3%
MCB Metropolitan Bank Holding Co. 1.37% 240,254 $12.6M No change
SFST Southern First Bancshares 1.37% 370,243 $12.6M Reduce -7.7%
BPRN Princeton Bancorp Inc. 1.37% 340,716 $12.6M Add +10.3%
INBK First Internet Bancorp 1.35% 364,296 $12.5M No change
ALRS Alerus Financial Corp. 1.35% 543,586 $12.4M No change
CNOB Connectone Bancorp Inc. 1.33% 489,086 $12.3M Add +1.0%
MCBI Mountain Commerce Bancorp Inc. 1.30% 572,510 $12.0M Reduce -1.4%
MNSB Mainstreet Bancshares Inc. 1.30% 651,014 $12.0M No change
BFST Business First Bancshares 1.29% 462,494 $11.9M Reduce -5.2%
CCNE CNB Financial Corp. 1.26% 481,576 $11.6M Reduce -3.1%
TCBX Third Coast Bancshares Inc. 1.26% 432,745 $11.6M Reduce -11.3%
FETM Fentura Financial Inc. 1.25% 295,913 $11.6M Reduce -8.3%
BSVN BANK7 Corp. 1.24% 305,136 $11.4M Reduce -9.1%
ISTR Investar Holding Corp. 1.23% 583,925 $11.3M Reduce -4.2%
MPB Mid Penn Bancorp Inc. 1.17% 362,552 $10.8M Reduce -21.1%
BSRR Sierra Bancorp 1.16% 369,283 $10.7M Reduce -14.2%
MRBK Meridian Corp. 1.14% 829,153 $10.5M Add +4.7%
ALPIB Alpine Banks of Colorado-B 1.11% 346,490 $10.2M Reduce -2.7%
FSUN Firstsun Capital Bancorp 1.02% 221,396 $9.4M Reduce -0.5%
FNRN First Northern Community Ban 0.94% 840,537 $8.7M Reduce -1.2%
BWFG Bankwell Financial Group Inc. 0.92% 282,623 $8.5M No change
FFWM First Foundation Inc. 0.92% 1,353,054 $8.4M No change
VBTX Veritex Holdings Inc. 0.87% 303,000 $8.0M Add +0.7%
CZWI Citizens Community Bancorp I 0.86% 559,970 $7.9M Reduce -17.6%
TRBK Traditions Bancorp Inc. 0.81% 251,895 $7.5M Reduce -3.3%
UBAB United Bancorporation Alab-A 0.70% 127,413 $6.5M Reduce -8.0%
SHBI Shore Bancshares Inc. 0.70% 461,954 $6.5M Reduce -8.5%
CBOBA Bay Community Bancorp 0.70% 480,244 $6.5M No change
PSBQ PSB Holdings Inc. filed as PSB HLDGS INC WIS 0.68% 250,956 $6.3M Reduce -10.7%
RCBC River City Bank 0.67% 22,168 $6.2M No change
ARBV American Riviera Bancorp 0.67% 322,046 $6.2M Reduce -12.9%
BRBS Blue Ridge Bankshares Inc. 0.65% 2,130,722 $6.0M Add +79.5%
COSO Coastal South Bancshares Inc. 0.62% 292,473 $5.8M Reduce -0.2%
LNKB Linkbancorp Inc. 0.60% 864,241 $5.5M Reduce -1.3%
PMHG Prime Meridian Holding Co. 0.60% 215,076 $5.5M Reduce -1.8%
FSRL First Reliance Bancshares Inc. 0.59% 537,984 $5.5M Reduce -4.0%
SABK South Atlantic Bancshares 0.58% 379,689 $5.3M Reduce -6.3%
UBFO United Security Bancshare 0.54% 573,139 $5.0M Add +2.5%
ORPB Oregon Pacific Bancorp 0.54% 661,386 $5.0M No change
FGFH Foresight Financial Group 0.51% 142,598 $4.7M No change
FSBC Five Star Bancorp 0.48% 148,919 $4.4M Reduce -8.0%
CMHF Community Heritage Financial 0.46% 203,558 $4.3M No change
FCPB First Capital Bancshares Inc. 0.46% 382,816 $4.2M Reduce -4.7%
BREMER FINANCIAL CORP 0.45% 41,667 $4.2M New
HANOVER BANCORP INC/NY 0.44% 228,440 $4.1M No change
WRIV White River Bancshares Co. 0.43% 137,422 $3.9M Add +95.9%
SOUB Southpoint Bancshares Inc. 0.40% 109,704 $3.7M No change
FVCB Fvcbankcorp Inc. 0.40% 280,121 $3.7M Reduce -5.8%
SSBI Summit State Bank 0.39% 429,395 $3.6M Reduce -2.3%
FISB 1ST Capital Bancorp 0.38% 250,658 $3.5M No change
STBK Studio Financial Holdings Inc. 0.37% 344,415 $3.4M Add +10.9%
AMTB Amerant Bancorp Inc. 0.37% 160,000 $3.4M New
EBTC Enterprise Bancorp Inc. 0.37% 106,004 $3.4M Add +5.0%
NWYF Northway Financial Inc. 0.35% 103,158 $3.2M Reduce -31.1%
CCNB Coastal Carolina Bancshares 0.33% 304,492 $3.0M Reduce -1.6%
FXNC First National Corp. 0.33% 172,291 $3.0M Reduce -1.1%
FCCO First Community Corp. 0.32% 139,424 $3.0M Reduce -25.0%
CBWA Commencement Bancorp Inc. 0.31% 256,860 $2.9M Reduce -6.5%
HTBK Heritage Commerce Corp. 0.29% 272,839 $2.7M Reduce -36.4%
MFGI Merchants Financial Group Inc. 0.29% 104,401 $2.7M Reduce -28.5%
BY Byline Bancorp Inc. 0.28% 96,890 $2.6M Reduce -16.2%
MVLY Mission Valley Bancorp 0.26% 163,742 $2.4M Reduce -2.7%
TBBK The Bancorp Inc. 0.26% 45,592 $2.4M Reduce -4.2%
SBKO Summit Bank Group Inc. 0.26% 190,501 $2.4M Add +29.8%
PPBN Pinnacle Bankshares Corp. 0.26% 79,682 $2.4M No change
SBT Sterling Bancorp Inc. 0.25% 502,061 $2.3M No change
USCB Uscb Financial Holdings Inc. 0.25% 149,230 $2.3M Reduce -10.3%
TRCY Tri City Bankshares Corp. 0.25% 169,041 $2.3M Reduce -1.2%
GNRV Grand River Commerce Inc. 0.24% 675,014 $2.2M No change
DCOM Dime Commercial Bancshares I filed as DIME CMNTY BANCSHARES INC 0.24% 76,073 $2.2M Reduce -44.2%
MCHN McHenry Bancorp Inc. 0.24% 60,000 $2.2M No change
BLHK Blueharbor Bank 0.23% 106,602 $2.1M No change
MVBF MVB Financial Corp. 0.23% 109,189 $2.1M No change
WEX Wex Inc. 0.23% 9,955 $2.1M No change
BAFN Bayfirst Financial Corp. 0.21% 150,272 $2.0M No change
FSBH FSBH Corp. 0.20% 234,250 $1.9M No change
BCTF Bancorp 34 Inc. 0.20% 162,857 $1.8M No change
PBNK Pinnacle Bank/Gilroy Ca 0.19% 92,128 $1.8M Reduce -14.8%
BWB Bridgewater Bancshares Inc. 0.18% 119,479 $1.7M Reduce -12.5%
FCOB 1ST Colonial Bancorp Inc. 0.18% 108,144 $1.7M Reduce -12.9%
HBT HBT Financial Inc. 0.17% 72,544 $1.6M Reduce -42.9%
MLGF Malaga Financial Corp. 0.17% 68,304 $1.6M Reduce -13.9%
PWBK Pacific West Bancorp 0.17% 145,715 $1.5M No change
RNST Renasant Corp. 0.17% 46,875 $1.5M New
OBK Origin Bancorp Inc. 0.16% 47,142 $1.5M No change
SBNC Southern Bancshares Inc./N C 0.16% 239 $1.5M Reduce -24.6%
MOFG Midwestone Financial Group I 0.15% 50,000 $1.4M New
BORT Bank of Botetourt Buchanan V filed as BANK BOTETOURT 0.13% 36,624 $1.2M No change
OVLY Oak Valley Bancorp filed as OAK VY BANCORP OAKDALE CALIF 0.13% 43,822 $1.2M Reduce -39.6%
DSBX Dogwood State Bank 0.11% 79,721 $1.1M New
BKOR Oak Ridge Financial Services 0.10% 49,364 $944K No change
CNBW CNB Corp. 0.10% 14,348 $933K No change
ESBS Es Bancshares Inc. 0.10% 145,745 $925K Reduce -41.8%
EDVR Endeavor Bancorp 0.09% 83,891 $841K Add +30.5%
FFMH First Farmers & Merchants 0.08% 20,092 $693K No change
CBNK Capital Bancorp Inc. 0.07% 24,022 $618K No change
LOB Live Oak Bancshares Inc. 0.07% 12,750 $604K No change
RVSB Riverview Bancorp Inc. 0.06% 126,344 $595K No change
CSHX Cashmere Valley Bank 0.06% 9,587 $554K Reduce -38.9%
PTBS Potomac Bancshares Inc. 0.05% 33,492 $500K No change
BCBP BCB Bancorp Inc. 0.05% 36,437 $450K Reduce -56.2%
BOTJ Bank of the James Financial 0.03% 23,029 $316K Reduce -62.5%

Portfolio Sells Q2 2024 → Q3 2024
CALB California Bancorp Inc. Sold out 0.00% −1.68
PFS Provident Financial Services Sold out 0.00% −0.97
CATC Cambridge Bancorp Sold out 0.00% −0.58
TFIN Triumph Financial Inc. Reduce -10.0% 2.28% −0.57
CFB Crossfirst Bankshares Inc. Reduce -29.8% 1.75% −0.54
OSBC Old Second Bancorp Inc. Reduce -11.2% 2.97% −0.50
SAMG Silvercrest Asset Manageme-A Sold out 0.00% −0.24
UNTY Unity Bancorp Inc. Reduce -10.7% 3.11% −0.20
MBWM Mercantile Bank Corp. Reduce -9.3% 1.45% −0.17
HTBK Heritage Commerce Corp. Reduce -36.4% 0.29% −0.15
HBT HBT Financial Inc. Reduce -42.9% 0.17% −0.14
CFOK Community First Bancorp Sold out 0.00% −0.13
MFGI Merchants Financial Group Inc. Reduce -28.5% 0.29% −0.12
CFIC Cornerstone Financial Corp. N Sold out 0.00% −0.12
SSBI Summit State Bank Reduce -2.3% 0.39% −0.10
DCOM Dime Commercial Bancshares I Reduce -44.2% 0.24% −0.09
OVLY Oak Valley Bancorp Reduce -39.6% 0.13% −0.09
UBAB United Bancorporation Alab-A Reduce -8.0% 0.70% −0.09
WCCB West Coast Community Bancorp Reduce -6.3% 1.97% −0.08
CZWI Citizens Community Bancorp I Reduce -17.6% 0.86% −0.07
ESBS Es Bancshares Inc. Reduce -41.8% 0.10% −0.07
OBT Orange County Bancorp Inc. Reduce -7.6% 1.88% −0.07
SBNC Southern Bancshares Inc./N C Reduce -24.6% 0.16% −0.06
ARBV American Riviera Bancorp Reduce -12.9% 0.67% −0.06
FCCO First Community Corp. Reduce -25.0% 0.32% −0.06
BCBP BCB Bancorp Inc. Reduce -56.2% 0.05% −0.06
ALPIB Alpine Banks of Colorado-B Reduce -2.7% 1.11% −0.05
FCOB 1ST Colonial Bancorp Inc. Reduce -12.9% 0.18% −0.05
BOTJ Bank of the James Financial Reduce -62.5% 0.03% −0.05
MLGF Malaga Financial Corp. Reduce -13.9% 0.17% −0.04
BY Byline Bancorp Inc. Reduce -16.2% 0.28% −0.04
LNKB Linkbancorp Inc. Reduce -1.3% 0.60% −0.03
CSHX Cashmere Valley Bank Reduce -38.9% 0.06% −0.03
MPB Mid Penn Bancorp Inc. Reduce -21.1% 1.17% −0.02
LPRO Open Lending Corp. Sold out 0.00% −0.02
PGC Peapack Gladstone Finl Corp. Reduce -10.8% 1.79% −0.02
SFST Southern First Bancshares Reduce -7.7% 1.37% −0.02
PBNK Pinnacle Bank/Gilroy Ca Reduce -14.8% 0.19% −0.02
SABK South Atlantic Bancshares Reduce -6.3% 0.58% −0.02
FCPB First Capital Bancshares Inc. Reduce -4.7% 0.46% −0.01
FNBT Finemark Holdings Inc. Reduce -0.1% 2.09% −0.01
MVLY Mission Valley Bancorp Reduce -2.7% 0.26% −0.01
USCB Uscb Financial Holdings Inc. Reduce -10.3% 0.25% −0.01
CCNB Coastal Carolina Bancshares Reduce -1.6% 0.33% −0.01
BSVN BANK7 Corp. Reduce -9.1% 1.24% −0.01
BWB Bridgewater Bancshares Inc. Reduce -12.5% 0.18% −0.00
CBWA Commencement Bancorp Inc. Reduce -6.5% 0.31% −0.00
PSBQ PSB Holdings Inc. Reduce -10.7% 0.68% +0.00
SSBK Southern States Bancshares Reduce -3.4% 2.39% +0.00
FVCB Fvcbankcorp Inc. Reduce -5.8% 0.40% +0.01

Portfolio Buys Q2 2024 → Q3 2024
BCAL California Bancorp Add +288.1% 2.27% +1.69
BREMER FINANCIAL CORP New 0.45% +0.45
PBAM Private Bancorp of America I Add +5.5% 2.01% +0.38
AMTB Amerant Bancorp Inc. New 0.37% +0.37
AMBZ American Business Bank Add +1.8% 2.35% +0.32
BRBS Blue Ridge Bankshares Inc. Add +79.5% 0.65% +0.28
CNOB Connectone Bancorp Inc. Add +1.0% 1.33% +0.24
RNST Renasant Corp. New 0.17% +0.17
MOFG Midwestone Financial Group I New 0.15% +0.15
BPRN Princeton Bancorp Inc. Add +10.3% 1.37% +0.15
MRBK Meridian Corp. Add +4.7% 1.14% +0.15
DSBX Dogwood State Bank New 0.11% +0.11
VBTX Veritex Holdings Inc. Add +0.7% 0.87% +0.11
MBIN Merchants Bancorp Add +3.3% 1.90% +0.09
EBTC Enterprise Bancorp Inc. Add +5.0% 0.37% +0.07
SBKO Summit Bank Group Inc. Add +29.8% 0.26% +0.06
UBFO United Security Bancshare Add +2.5% 0.54% +0.06
EDVR Endeavor Bancorp Add +30.5% 0.09% +0.02
STBK Studio Financial Holdings Inc. Add +10.9% 0.37% +0.02
WRIV White River Bancshares Co. Add +95.9% 0.43% −0.02

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