Mendon Capital Advisors Corp.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Mendon Capital Advisors Corp. reported 39 stock positions worth $177.3 million. Its top holding was Equity Bancshares Class A (EQBK) at 9.6% of the portfolio, followed by Versabank (VBNK, 6.9%) and Primis Financial (FRST, 6.9%). Compared with Q3 2024, it opened 7 new positions, sold out of 8, added to 13 and reduced 9. The biggest buy was a new position in Flushing Financial (FFIC) and the biggest sale an exit from First Horizon (FHN).
- Most Recent 13F
- Q2 2026
- Location
- KEY LARGO, FL
- CIK
- 0001177043
- Portfolio Value
- $177.3M (Q4 2024)
- SEC Filing
- 0001172661-25-000963 ↗ filed Feb 14, 2025
Holdings Value
Holdings 39 stocks · $177.3M
| EQBK Equity Bancshares Inc. Class A | 9.65% | 403,208 | $17.1M | Add +25.2% |
| VBNK Versabank | 6.93% | 887,253 | $12.3M | Add +65.6% |
| FRST Primis Financial Corp. | 6.92% | 1,051,728 | $12.3M | Add +11.3% |
| USCB Uscb Financial Holdings Inc. | 6.76% | 674,811 | $12.0M | Add +7.3% |
| ABX Abacus Global Management Inc. | 5.76% | 1,303,826 | $10.2M | Add +137.1% |
| FBMS First Bancshares Inc. | 4.94% | 250,000 | $8.8M | Reduce -3.6% |
| AMTB Amerant Bancorp Inc. | 4.64% | 367,329 | $8.2M | Reduce -12.2% |
| BCAL California Bancorp | 4.14% | 443,695 | $7.3M | Add +6.8% |
| VBTX Veritex Holdings Inc. | 3.98% | 264,000 | $7.0M | Reduce -12.0% |
| BFST Business First Bancshares | 3.88% | 267,830 | $6.9M | Reduce -13.6% |
| OBK Origin Bancorp Inc. | 3.76% | 200,000 | $6.7M | No change |
| CIVB Civista Bancshares Inc. | 2.88% | 242,450 | $5.1M | Add +12.2% |
| MYFW First Western Financial Inc. | 2.84% | 257,598 | $5.0M | Add +152.1% |
| FFIC Flushing Financial Corp. | 2.82% | 350,000 | $5.0M | New |
| MOFG Midwestone Financial Group I | 2.53% | 154,284 | $4.5M | Reduce -6.0% |
| SSBK Southern States Bancshares | 2.25% | 120,000 | $4.0M | No change |
| PFS Provident Financial Services | 2.13% | 200,000 | $3.8M | Reduce -20.0% |
| SHBI Shore Bancshares Inc. | 2.06% | 231,838 | $3.7M | Add +21.6% |
| BY Byline Bancorp Inc. | 2.04% | 125,000 | $3.6M | Reduce -17.4% |
| BROOKLINE BANCORP INC | 2.00% | 300,000 | $3.5M | New |
| MCHB Mechanics Bancorp Class A filed as HOMESTREET INC | 1.93% | 300,000 | $3.4M | No change |
| FISI Financial Institutions Inc. | 1.54% | 100,000 | $2.7M | New |
| CCB Coastal Financial Corp. | 1.44% | 30,000 | $2.5M | No change |
| COFS Choiceone Financial SVCS Inc. | 1.43% | 70,928 | $2.5M | No change |
| FFWM First Foundation Inc. | 1.31% | 373,711 | $2.3M | Reduce -9.1% |
| NIC Nicolet Bankshares Inc. | 1.18% | 20,000 | $2.1M | No change |
| LOB Live Oak Bancshares Inc. | 1.12% | 50,000 | $2.0M | New |
| MPB Mid Penn Bancorp Inc. | 1.07% | 65,992 | $1.9M | New |
| FSUN Firstsun Capital Bancorp | 1.06% | 47,115 | $1.9M | Add +73.8% |
| OSBC Old Second Bancorp Inc. | 1.00% | 100,000 | $1.8M | No change |
| STEL Stellar Bancorp Inc. | 0.80% | 50,000 | $1.4M | Reduce -33.3% |
| CARE Carter Bankshares Inc. | 0.64% | 64,117 | $1.1M | New |
| MNSB Mainstreet Bancshares Inc. | 0.53% | 51,443 | $931K | Add +136.1% |
| OCFC Oceanfirst Financial Corp. | 0.51% | 50,000 | $905K | No change |
| AUB Atlantic Union Bankshares Co. | 0.47% | 25,000 | $832K | No change |
| LNKB Linkbancorp Inc. | 0.45% | 107,028 | $801K | Add +64.3% |
| MRBK Meridian Corp. | 0.38% | 48,587 | $666K | Add +161.4% |
| SFST Southern First Bancshares | 0.18% | 7,842 | $312K | No change |
| FLG Flagstar Bank NA | 0.07% | 14,000 | $131K | New |
Options reported separately and not counted above: SPY puts ($8.8M), XLF puts ($7.2M), KRE puts ($6.0M), IWM puts ($3.3M), HBAN puts ($407K).
Portfolio Sells Q3 2024 → Q4 2024
| FHN First Horizon Corp. | Sold out | 0.00% | −3.92 |
| RNST Renasant Corp. | Sold out | 0.00% | −2.10 |
| BFST Business First Bancshares | Reduce -13.6% | 3.88% | −1.25 |
| AMTB Amerant Bancorp Inc. | Reduce -12.2% | 4.64% | −1.12 |
| VBTX Veritex Holdings Inc. | Reduce -12.0% | 3.98% | −1.12 |
| ABCB Ameris Bancorp | Sold out | 0.00% | −0.98 |
| CADE Cadence Bank | Sold out | 0.00% | −0.93 |
| PFS Provident Financial Services | Reduce -20.0% | 2.13% | −0.87 |
| FSBC Five Star Bancorp | Sold out | 0.00% | −0.80 |
| FLYW Flywire Corp.-Voting | Sold out | 0.00% | −0.68 |
| BY Byline Bancorp Inc. | Reduce -17.4% | 2.04% | −0.57 |
| SMBK Smartfinancial Inc. | Sold out | 0.00% | −0.50 |
| MOFG Midwestone Financial Group I | Reduce -6.0% | 2.53% | −0.49 |
| STEL Stellar Bancorp Inc. | Reduce -33.3% | 0.80% | −0.45 |
| FBMS First Bancshares Inc. | Reduce -3.6% | 4.94% | −0.44 |
| FFWM First Foundation Inc. | Reduce -9.1% | 1.31% | −0.35 |
| PNFP Pinnacle Financial Partners | Sold out | 0.00% | −0.32 |
Portfolio Buys Q3 2024 → Q4 2024
| FFIC Flushing Financial Corp. | New | 2.82% | +2.82 |
| VBNK Versabank | Add +65.6% | 6.93% | +2.34 |
| ABX Abacus Global Management Inc. | Add +137.1% | 5.76% | +2.17 |
| BROOKLINE BANCORP INC | New | 2.00% | +2.00 |
| FISI Financial Institutions Inc. | New | 1.54% | +1.54 |
| MYFW First Western Financial Inc. | Add +152.1% | 2.84% | +1.52 |
| EQBK Equity Bancshares Inc. Class A | Add +25.2% | 9.65% | +1.15 |
| LOB Live Oak Bancshares Inc. | New | 1.12% | +1.12 |
| MPB Mid Penn Bancorp Inc. | New | 1.07% | +1.07 |
| CARE Carter Bankshares Inc. | New | 0.64% | +0.64 |
| USCB Uscb Financial Holdings Inc. | Add +7.3% | 6.76% | +0.57 |
| CIVB Civista Bancshares Inc. | Add +12.2% | 2.88% | +0.39 |
| SHBI Shore Bancshares Inc. | Add +21.6% | 2.06% | +0.34 |
| FSUN Firstsun Capital Bancorp | Add +73.8% | 1.06% | +0.32 |
| MNSB Mainstreet Bancshares Inc. | Add +136.1% | 0.53% | +0.27 |
| MRBK Meridian Corp. | Add +161.4% | 0.38% | +0.22 |
| LNKB Linkbancorp Inc. | Add +64.3% | 0.45% | +0.18 |
| BCAL California Bancorp | Add +6.8% | 4.14% | +0.18 |
| FLG Flagstar Bank NA | New | 0.07% | +0.07 |
| FRST Primis Financial Corp. | Add +11.3% | 6.92% | −0.51 |
Options Activity Q3 2024 → Q4 2024
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 15,000 | $8.8M |
| XLF SS Financial Select Sector | put | New | 150,000 | $7.2M |
| KRE SS SPDR S&P Regional Bank | put | New | 100,000 | $6.0M |
| IWM iShares Russell 2000 ETF | put | New | 15,000 | $3.3M |
| HBAN Huntington Bancshares Inc. | put | New | 25,000 | $407K |
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 |