Mendon Capital Advisors Corp.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Mendon Capital Advisors Corp. reported 47 stock positions worth $177.1 million. Its top holding was Equity Bancshares Class A (EQBK) at 8.6% of the portfolio, followed by Primis Financial (FRST, 7.2%) and Business First Bancshares (BFST, 5.6%). Compared with Q4 2023, it opened 4 new positions, sold out of 8, added to 2 and reduced 33. The biggest buy was California Bancorp (CALB, shares +872%) and the biggest sale an exit from New York Community Bancorp (FLG).
- Most Recent 13F
- Q2 2026
- Location
- KEY LARGO, FL
- CIK
- 0001177043
- Portfolio Value
- $177.1M (Q1 2024)
- SEC Filing
- 0001172661-24-002324 ↗ filed May 15, 2024
Holdings Value
Holdings 47 stocks · $177.1M
| EQBK Equity Bancshares Inc. Class A | 8.60% | 13,258 | $15.2M | Reduce -96.9% |
| FRST Primis Financial Corp. | 7.16% | 909,654 | $12.7M | Reduce -12.7% |
| BFST Business First Bancshares | 5.60% | 25,000 | $9.9M | Reduce -94.4% |
| FBMS First Bancshares Inc. | 5.53% | 335,000 | $9.8M | Reduce -22.5% |
| USCB Uscb Financial Holdings Inc. | 5.41% | 85,738 | $9.6M | Reduce -89.8% |
| BY Byline Bancorp Inc. | 4.29% | 350,000 | $7.6M | No change |
| VBNK Versabank | 4.03% | 79,239 | $7.1M | Reduce -90.5% |
| OBK Origin Bancorp Inc. | 3.79% | 215,000 | $6.7M | No change |
| VBTX Veritex Holdings Inc. | 3.76% | 325,000 | $6.7M | Reduce -7.1% |
| NTB Bank of N.T. Butterfield&son | 3.69% | 204,022 | $6.5M | Reduce -9.3% |
| FHN First Horizon Corp. | 3.41% | 375,000 | $6.0M | Reduce -6.3% |
| CALB California Bancorp Inc. | 3.25% | 228,727 | $5.8M | Add +872.1% |
| CADE Cadence Bank | 2.86% | 25,000 | $5.1M | Reduce -75.0% |
| AMTB Amerant Bancorp Inc. | 2.72% | 200,000 | $4.8M | Add +37.9% |
| PFS Provident Financial Services | 2.68% | 300,000 | $4.7M | Reduce -7.9% |
| MCHB Mechanics Bancorp Class A filed as HOMESTREET INC | 2.55% | 300,000 | $4.5M | New |
| FSBC Five Star Bancorp | 2.54% | 11,884 | $4.5M | New |
| CCB Coastal Financial Corp. | 2.19% | 100,000 | $3.9M | Reduce -16.7% |
| FBK FB Financial Corp. filed as FB FINL CORP | 2.03% | 50,000 | $3.6M | Reduce -66.7% |
| SSBK Southern States Bancshares | 1.83% | 125,000 | $3.2M | Reduce -10.7% |
| CIVB Civista Bancshares Inc. | 1.74% | 200,000 | $3.1M | No change |
| LOB Live Oak Bancshares Inc. | 1.62% | 39,100 | $2.9M | Reduce -60.9% |
| SHBI Shore Bancshares Inc. | 1.59% | 175,000 | $2.8M | Reduce -36.9% |
| STEL Stellar Bancorp Inc. | 1.38% | 100,000 | $2.4M | Reduce -20.0% |
| ABCB Ameris Bancorp | 1.37% | 50,000 | $2.4M | Reduce -44.4% |
| SMBK Smartfinancial Inc. | 1.21% | 1,143 | $2.1M | Reduce -98.5% |
| FFWM First Foundation Inc. | 1.17% | 264,745 | $2.1M | New |
| OSBC Old Second Bancorp Inc. | 1.17% | 150,000 | $2.1M | Reduce -25.0% |
| LBAI Lakeland Bancorp Inc. | 1.07% | 6,224 | $1.9M | Reduce -96.2% |
| LNKB Linkbancorp Inc. | 1.04% | 89,749 | $1.8M | Reduce -66.3% |
| AUB Atlantic Union Bankshares Co. | 1.00% | 50,000 | $1.8M | No change |
| NIC Nicolet Bankshares Inc. | 0.97% | 20,000 | $1.7M | Reduce -20.0% |
| RNST Renasant Corp. | 0.88% | 50,000 | $1.6M | No change |
| NBTB N B T Bancorp Inc. | 0.83% | 40,000 | $1.5M | No change |
| OCFC Oceanfirst Financial Corp. | 0.69% | 75,000 | $1.2M | No change |
| CBAN Colony Bankcorp | 0.69% | 106,772 | $1.2M | Reduce -23.7% |
| MYFW First Western Financial Inc. | 0.66% | 31,277 | $1.2M | Reduce -45.2% |
| AGNC AGNC Investment Corp. | 0.56% | 100,000 | $990K | Reduce -83.3% |
| NLY Annaly Capital Management Inc. | 0.56% | 50,000 | $985K | Reduce -75.0% |
| UCB United Community Banks | 0.45% | 30,000 | $790K | No change |
| MNSB Mainstreet Bancshares Inc. | 0.44% | 17,780 | $777K | Reduce -58.6% |
| MRBK Meridian Corp. | 0.27% | 30,000 | $476K | Reduce -37.8% |
| FRME First Merchants Corp. | 0.20% | 10,000 | $349K | New |
| BCAL California Bancorp filed as SOUTHERN CALIF BANCORP | 0.18% | 21,368 | $319K | Reduce -1.1% |
| SFST Southern First Bancshares | 0.14% | 7,617 | $242K | Reduce -1.1% |
| FFIC Flushing Financial Corp. | 0.12% | 7,326 | $219K | Reduce -58.0% |
| RVSB Riverview Bancorp Inc. | 0.09% | 20,000 | $159K | Reduce -40.7% |
Options reported separately and not counted above: IWM puts ($5.3M), XLF puts ($4.2M).
Portfolio Sells Q4 2023 → Q1 2024
| FLG New York Community Bancorp | Sold out | 0.00% | −3.61 |
| WFC Wells Fargo & Co. | Sold out | 0.00% | −2.31 |
| AGNC AGNC Investment Corp. | Reduce -83.3% | 0.56% | −2.21 |
| NLY Annaly Capital Management Inc. | Reduce -75.0% | 0.56% | −1.27 |
| BAC Bank of America Corp. | Sold out | 0.00% | −1.19 |
| TFIN Triumph Financial Inc. | Sold out | 0.00% | −0.94 |
| BANC Banc of California Inc. | Sold out | 0.00% | −0.93 |
| ABCB Ameris Bancorp | Reduce -44.4% | 1.37% | −0.88 |
| FBK FB Financial Corp. | Reduce -66.7% | 2.03% | −0.78 |
| LOB Live Oak Bancshares Inc. | Reduce -60.9% | 1.62% | −0.52 |
| VLY Valley National Bancorp | Sold out | 0.00% | −0.51 |
| SSB Southstate Bank Corp. | Sold out | 0.00% | −0.50 |
| FBMS First Bancshares Inc. | Reduce -22.5% | 5.53% | −0.43 |
| CCB Coastal Financial Corp. | Reduce -16.7% | 2.19% | −0.31 |
| OSBC Old Second Bancorp Inc. | Reduce -25.0% | 1.17% | −0.28 |
| VBNK Versabank | Reduce -90.5% | 4.03% | −0.26 |
| SHBI Shore Bancshares Inc. | Reduce -36.9% | 1.59% | −0.26 |
| STEL Stellar Bancorp Inc. | Reduce -20.0% | 1.38% | −0.26 |
| CBAN Colony Bankcorp | Reduce -23.7% | 0.69% | −0.18 |
| SSBK Southern States Bancshares | Reduce -10.7% | 1.83% | −0.10 |
| PFS Provident Financial Services | Reduce -7.9% | 2.68% | −0.08 |
| LBAI Lakeland Bancorp Inc. | Reduce -96.2% | 1.07% | −0.08 |
| BFIN Bankfinancial Corp. | Sold out | 0.00% | −0.07 |
| VBTX Veritex Holdings Inc. | Reduce -7.1% | 3.76% | −0.07 |
| MNSB Mainstreet Bancshares Inc. | Reduce -58.6% | 0.44% | −0.06 |
| MRBK Meridian Corp. | Reduce -37.8% | 0.27% | −0.05 |
| RVSB Riverview Bancorp Inc. | Reduce -40.7% | 0.09% | −0.01 |
| FFIC Flushing Financial Corp. | Reduce -58.0% | 0.12% | −0.01 |
| SFST Southern First Bancshares | Reduce -1.1% | 0.14% | +0.00 |
| BCAL California Bancorp | Reduce -1.1% | 0.18% | +0.00 |
| NIC Nicolet Bankshares Inc. | Reduce -20.0% | 0.97% | +0.03 |
| LNKB Linkbancorp Inc. | Reduce -66.3% | 1.04% | +0.04 |
| MYFW First Western Financial Inc. | Reduce -45.2% | 0.66% | +0.13 |
| NTB Bank of N.T. Butterfield&son | Reduce -9.3% | 3.69% | +0.30 |
| SMBK Smartfinancial Inc. | Reduce -98.5% | 1.21% | +0.33 |
| BFST Business First Bancshares | Reduce -94.4% | 5.60% | +0.44 |
| USCB Uscb Financial Holdings Inc. | Reduce -89.8% | 5.41% | +0.57 |
| FHN First Horizon Corp. | Reduce -6.3% | 3.41% | +0.74 |
| FRST Primis Financial Corp. | Reduce -12.7% | 7.16% | +0.95 |
| CADE Cadence Bank | Reduce -75.0% | 2.86% | +1.47 |
| EQBK Equity Bancshares Inc. Class A | Reduce -96.9% | 8.60% | +1.69 |
Portfolio Buys Q4 2023 → Q1 2024
Options Activity Q4 2023 → Q1 2024
| IWM iShares Russell 2000 ETF | put | Reduce -50.0% | 25,000 | $5.3M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Sold out | 10,000 | $4.8Mbefore exit |
| XLF SS Financial Select Sector | put | Reduce -50.0% | 100,000 | $4.2M |
| KBE SS SPDR S&P Bank ETF | put | Sold out | 75,000 | $3.5Mbefore exit |
| KRE SS SPDR S&P Regional Bank | put | Sold out | 50,000 | $2.6Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 46 | $282.9M | ABX, VBNK, EQBK, FRST, FSUN |
| Q1 2026 | 53 | $258.0M | EQBK, FRST, ABX, VBNK, NIC |
| Q4 2025 | 50 | $255.2M | ABX, EQBK, FRST, VBNK, FHN |
| Q3 2025 | 54 | $219.7M | EQBK, MCHB, FRST, VBNK, ABX |
| Q2 2025 | 50 | $206.3M | EQBK, FRST, VBNK, USCB, FHN |
| Q1 2025 | 53 | $216.0M | EQBK, USCB, FRST, ABX, VBNK |
| Q4 2024 | 39 | $177.3M | EQBK, VBNK, FRST, USCB, ABX |
| Q3 2024 | 40 | $155.0M | EQBK, FRST, USCB, AMTB, FBMS |
| Q2 2024 | 45 | $161.5M | EQBK, FRST, USCB, BFST, FBMS |
| Q1 2024 | 47 | $177.1M | EQBK, FRST, BFST, FBMS, USCB |