Mendon Capital Advisors Corp.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Mendon Capital Advisors Corp. reported 54 stock positions worth $219.7 million. Its top holding was Equity Bancshares Class A (EQBK) at 7.3% of the portfolio, followed by Mechanics Bancorp Class A (MCHB, 6.4%) and Primis Financial (FRST, 5.8%). Compared with Q2 2025, it opened 12 new positions, sold out of 8, added to 7 and reduced 27. The biggest buy was Mechanics Bancorp Class A (MCHB, shares +427%) and the biggest sale an exit from Veritex (VBTX).
- Most Recent 13F
- Q2 2026
- Location
- KEY LARGO, FL
- CIK
- 0001177043
- Portfolio Value
- $219.7M (Q3 2025)
- SEC Filing
- 0001172661-25-005085 ↗ filed Nov 14, 2025
Holdings Value
Holdings 54 stocks · $219.7M
| EQBK Equity Bancshares Inc. Class A | 7.27% | 392,490 | $16.0M | Reduce -1.6% |
| MCHB Mechanics Bancorp Class A | 6.39% | 1,054,839 | $14.0M | Add +427.4% |
| FRST Primis Financial Corp. | 5.83% | 1,217,327 | $12.8M | Reduce -6.5% |
| VBNK Versabank | 5.71% | 1,031,134 | $12.6M | Reduce -2.0% |
| ABX Abacus Global Management Inc. | 5.00% | 1,918,601 | $11.0M | Add +18.5% |
| FHN First Horizon Corp. | 4.71% | 457,770 | $10.4M | Reduce -11.2% |
| RNST Renasant Corp. | 4.20% | 250,000 | $9.2M | No change |
| USCB Uscb Financial Holdings Inc. | 3.87% | 487,142 | $8.5M | Reduce -29.5% |
| SFNC Simmons First Natl Corp. Class A | 3.55% | 406,570 | $7.8M | New |
| AVBH Avidbank Holdings Inc. | 3.46% | 297,646 | $7.6M | New |
| COSO Coastal South Bancshares Inc. | 3.30% | 332,349 | $7.2M | New |
| OBK Origin Bancorp Inc. | 3.14% | 200,000 | $6.9M | Reduce -4.8% |
| AMTB Amerant Bancorp Inc. | 2.72% | 311,897 | $6.0M | Reduce -2.5% |
| BFST Business First Bancshares | 2.69% | 250,000 | $5.9M | Reduce -10.7% |
| MYFW First Western Financial Inc. | 2.66% | 253,336 | $5.8M | Reduce -9.7% |
| BCAL California Bancorp | 2.59% | 341,340 | $5.7M | Reduce -6.5% |
| CIVB Civista Bancshares Inc. | 2.09% | 225,335 | $4.6M | Reduce -10.0% |
| MOFG Midwestone Financial Group I | 1.93% | 150,000 | $4.2M | Reduce -9.8% |
| BY Byline Bancorp Inc. | 1.58% | 125,000 | $3.5M | No change |
| ONB Old National Bancorp | 1.50% | 149,750 | $3.3M | Reduce -0.2% |
| CCB Coastal Financial Corp. | 1.43% | 29,700 | $3.2M | New |
| FSUN Firstsun Capital Bancorp | 1.43% | 81,233 | $3.2M | Reduce -34.9% |
| FISI Financial Institutions Inc. | 1.31% | 106,022 | $2.9M | Reduce -5.4% |
| NPB Northpointe Bancshares Inc. | 1.29% | 165,614 | $2.8M | Reduce -26.1% |
| FRME First Merchants Corp. | 1.29% | 75,000 | $2.8M | Reduce -33.2% |
| NIC Nicolet Bankshares Inc. | 1.20% | 19,800 | $2.6M | New |
| SHBI Shore Bancshares Inc. | 1.16% | 155,290 | $2.5M | Reduce -34.0% |
| SNV Synovus Financial Corp. | 1.10% | 49,750 | $2.4M | New |
| PFS Provident Financial Services | 1.10% | 125,000 | $2.4M | Reduce -50.0% |
| FFIC Flushing Financial Corp. | 1.08% | 171,299 | $2.4M | Reduce -1.4% |
| CARE Carter Bankshares Inc. | 1.04% | 117,392 | $2.3M | Reduce -17.6% |
| BWB Bridgewater Bancshares Inc. | 1.02% | 127,530 | $2.2M | No change |
| FFWM First Foundation Inc. | 1.01% | 400,000 | $2.2M | No change |
| HTB Hometrust Bancshares Inc. | 0.87% | 46,847 | $1.9M | No change |
| CADE Cadence Bank | 0.85% | 50,000 | $1.9M | Reduce -33.3% |
| ABCB Ameris Bancorp | 0.81% | 25,250 | $1.8M | Add +94.2% |
| AUB Atlantic Union Bankshares Co. | 0.80% | 50,000 | $1.8M | New |
| OSBC Old Second Bancorp Inc. | 0.79% | 100,000 | $1.7M | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.78% | 34,750 | $1.7M | Add +39.0% |
| LOB Live Oak Bancshares Inc. | 0.77% | 49,750 | $1.7M | New |
| WSBC Wesbanco Inc. | 0.73% | 50,000 | $1.6M | Add +100.0% |
| COFS Choiceone Financial SVCS Inc. | 0.66% | 50,000 | $1.4M | No change |
| BUSE First Busey Corp. | 0.53% | 50,000 | $1.2M | Reduce -78.8% |
| ISTR Investar Holding Corp. | 0.40% | 38,037 | $887K | New |
| OCFC Oceanfirst Financial Corp. | 0.40% | 50,000 | $879K | No change |
| MNSB Mainstreet Bancshares Inc. | 0.34% | 38,526 | $752K | Add +18.8% |
| PGC Peapack Gladstone Finl Corp. | 0.30% | 24,277 | $670K | Add +46.6% |
| NBTB N B T Bancorp Inc. | 0.29% | 15,000 | $626K | New |
| HTBK Heritage Commerce Corp. | 0.23% | 50,000 | $497K | New |
| BBT Beacon Financial Corp. | 0.22% | 20,000 | $474K | Reduce -74.7% |
| LNKB Linkbancorp Inc. | 0.20% | 63,085 | $448K | Reduce -36.9% |
| MRBK Meridian Corp. | 0.18% | 26,722 | $404K | Reduce -10.9% |
| SFST Southern First Bancshares | 0.11% | 5,582 | $245K | New |
| FLG Flagstar Bank NA | 0.09% | 16,530 | $191K | Reduce -50.0% |
Options reported separately and not counted above: FBK calls ($7.6M), SPY puts ($6.7M), BANC calls ($4.8M), KRE puts ($3.7M), IWM puts ($3.6M), FLG calls ($3.4M), XLF puts ($2.7M), HBAN puts ($1.7M), KBE puts ($1.5M), MTB puts ($1.5M), RF puts ($1.3M), FITB puts ($1.1M), and 2 more.
Portfolio Sells Q2 2025 → Q3 2025
| VBTX Veritex Holdings Inc. | Sold out | 0.00% | −3.79 |
| BUSE First Busey Corp. | Reduce -78.8% | 0.53% | −2.09 |
| USCB Uscb Financial Holdings Inc. | Reduce -29.5% | 3.87% | −1.67 |
| SSBK Southern States Bancshares | Sold out | 0.00% | −1.32 |
| BROOKLINE BANCORP INC | Sold out | 0.00% | −1.15 |
| PFS Provident Financial Services | Reduce -50.0% | 1.10% | −1.03 |
| FRST Primis Financial Corp. | Reduce -6.5% | 5.83% | −1.01 |
| AGNC AGNC Investment Corp. | Sold out | 0.00% | −0.89 |
| EFSI Eagle Financial Services Inc. | Sold out | 0.00% | −0.80 |
| FRME First Merchants Corp. | Reduce -33.2% | 1.29% | −0.80 |
| BBT Beacon Financial Corp. | Reduce -74.7% | 0.22% | −0.74 |
| CIVB Civista Bancshares Inc. | Reduce -10.0% | 2.09% | −0.73 |
| MPB Mid Penn Bancorp Inc. | Sold out | 0.00% | −0.68 |
| FSUN Firstsun Capital Bancorp | Reduce -34.9% | 1.43% | −0.67 |
| BFST Business First Bancshares | Reduce -10.7% | 2.69% | −0.66 |
| SHBI Shore Bancshares Inc. | Reduce -34.0% | 1.16% | −0.64 |
| EQBK Equity Bancshares Inc. Class A | Reduce -1.6% | 7.27% | −0.62 |
| FHN First Horizon Corp. | Reduce -11.2% | 4.71% | −0.59 |
| OBK Origin Bancorp Inc. | Reduce -4.8% | 3.14% | −0.50 |
| MYFW First Western Financial Inc. | Reduce -9.7% | 2.66% | −0.41 |
| MOFG Midwestone Financial Group I | Reduce -9.8% | 1.93% | −0.39 |
| CADE Cadence Bank | Reduce -33.3% | 0.85% | −0.31 |
| CNOB Connectone Bancorp Inc. | Sold out | 0.00% | −0.28 |
| NPB Northpointe Bancshares Inc. | Reduce -26.1% | 1.29% | −0.20 |
| BCAL California Bancorp | Reduce -6.5% | 2.59% | −0.20 |
| PNFP Pinnacle Financial Partners | Sold out | 0.00% | −0.16 |
| CARE Carter Bankshares Inc. | Reduce -17.6% | 1.04% | −0.16 |
| LNKB Linkbancorp Inc. | Reduce -36.9% | 0.20% | −0.15 |
| AMTB Amerant Bancorp Inc. | Reduce -2.5% | 2.72% | −0.11 |
| VBNK Versabank | Reduce -2.0% | 5.71% | −0.10 |
| FLG Flagstar Bank NA | Reduce -50.0% | 0.09% | −0.08 |
| FISI Financial Institutions Inc. | Reduce -5.4% | 1.31% | −0.08 |
| ONB Old National Bancorp | Reduce -0.2% | 1.50% | −0.06 |
| MRBK Meridian Corp. | Reduce -10.9% | 0.18% | −0.00 |
| FFIC Flushing Financial Corp. | Reduce -1.4% | 1.08% | +0.08 |
Portfolio Buys Q2 2025 → Q3 2025
| MCHB Mechanics Bancorp Class A | Add +427.4% | 6.39% | +5.12 |
| SFNC Simmons First Natl Corp. Class A | New | 3.55% | +3.55 |
| AVBH Avidbank Holdings Inc. | New | 3.46% | +3.46 |
| COSO Coastal South Bancshares Inc. | New | 3.30% | +3.30 |
| CCB Coastal Financial Corp. | New | 1.43% | +1.43 |
| NIC Nicolet Bankshares Inc. | New | 1.20% | +1.20 |
| SNV Synovus Financial Corp. | New | 1.10% | +1.10 |
| ABX Abacus Global Management Inc. | Add +18.5% | 5.00% | +0.97 |
| AUB Atlantic Union Bankshares Co. | New | 0.80% | +0.80 |
| LOB Live Oak Bancshares Inc. | New | 0.77% | +0.77 |
| ISTR Investar Holding Corp. | New | 0.40% | +0.40 |
| WSBC Wesbanco Inc. | Add +100.0% | 0.73% | +0.34 |
| NBTB N B T Bancorp Inc. | New | 0.29% | +0.29 |
| HTBK Heritage Commerce Corp. | New | 0.23% | +0.23 |
| SFST Southern First Bancshares | New | 0.11% | +0.11 |
| PGC Peapack Gladstone Finl Corp. | Add +46.6% | 0.30% | +0.08 |
| MNSB Mainstreet Bancshares Inc. | Add +18.8% | 0.34% | +0.04 |
| ABCB Ameris Bancorp | Add +94.2% | 0.81% | +0.04 |
| BAC Bank of America Corp. | Add +39.0% | 0.78% | +0.00 |
Options Activity Q2 2025 → Q3 2025
| FBK FB Financial Corp. | call | New | 144,000 | $7.6M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 10,000 | $6.7M |
| BANC Banc of California Inc. | call | New | 297,025 | $4.8M |
| KRE SS SPDR S&P Regional Bank | put | New | 75,000 | $3.7M |
| IWM iShares Russell 2000 ETF | put | New | 15,000 | $3.6M |
| FLG Flagstar Bank NA | call | New | 298,552 | $3.4M |
| XLF SS Financial Select Sector | put | New | 50,000 | $2.7M |
| HBAN Huntington Bancshares Inc. | put | New | 100,000 | $1.7M |
| KBE SS SPDR S&P Bank ETF | put | New | 25,000 | $1.5M |
| MTB M & T Bank Corp. | put | New | 7,500 | $1.5M |
| RF Regions Financial Corp. | put | New | 50,000 | $1.3M |
| FITB Fifth Third Bancorp | put | New | 25,000 | $1.1M |
| CFG Citizens Financial Group | put | New | 15,000 | $797K |
| KEY Keycorp | put | New | 25,000 | $467K |
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 |