Mendon Capital Advisors Corp.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 18, 2026), Mendon Capital Advisors Corp. reported 50 stock positions worth $255.2 million. Its top holding was Abacus Global Management (ABX) at 6.7% of the portfolio, followed by Equity Bancshares Class A (EQBK, 6.7%) and Primis Financial (FRST, 6.6%). Compared with Q3 2025, it opened 5 new positions, sold out of 9, added to 17 and reduced 10. The biggest buy was a new position in Commercial Bancgroup (CBK) and the biggest sale Mechanics Bancorp Class A (MCHB, shares −31%).

Most Recent 13F
Q2 2026
Location
KEY LARGO, FL
CIK
0001177043
Portfolio Value
$255.2M (Q4 2025)
SEC Filing
0001172661-26-001272 ↗ filed Feb 18, 2026

Holdings Value

0$100.0M$200.0M$300.0M Q1 2024: $177.1M Q1 2024 Q2 2024: $161.5M Q2 2024 Q3 2024: $155.0M Q3 2024 Q4 2024: $177.3M Q4 2024 Q1 2025: $216.0M Q1 2025 Q2 2025: $206.3M Q2 2025 Q3 2025: $219.7M Q3 2025 Q4 2025: $255.2M $255.2M Q4 2025 Q1 2026: $258.0M Q1 2026 Q2 2026: $282.9M Q2 2026

Holdings 50 stocks · $255.2M
ABX Abacus Global Management Inc. 6.74% 2,012,500 $17.2M Add +4.9%
EQBK Equity Bancshares Inc. Class A 6.74% 385,236 $17.2M Reduce -1.9%
FRST Primis Financial Corp. 6.64% 1,217,327 $16.9M No change
VBNK Versabank 6.03% 1,057,693 $15.4M Add +2.6%
FHN First Horizon Corp. 4.36% 465,000 $11.1M Add +1.6%
MCHB Mechanics Bancorp Class A 4.17% 726,502 $10.6M Reduce -31.1%
RNST Renasant Corp. 3.73% 270,000 $9.5M Add +8.0%
CBK Commercial Bancgroup Inc. 3.61% 374,847 $9.2M New
USCB Uscb Financial Holdings Inc. 3.52% 487,142 $9.0M No change
OBK Origin Bancorp Inc. 2.95% 200,000 $7.5M No change
MOFG Midwestone Financial Group I 2.78% 184,100 $7.1M Add +22.7%
MYFW First Western Financial Inc. 2.66% 253,336 $6.8M No change
FBK FB Financial Corp. filed as FB FINL CORP 2.62% 120,000 $6.7M New
BFST Business First Bancshares 2.56% 250,000 $6.5M No change
AMTB Amerant Bancorp Inc. 2.50% 326,408 $6.4M Add +4.7%
AVBH Avidbank Holdings Inc. 2.44% 234,553 $6.2M Reduce -21.2%
COSO Coastal South Bancshares Inc. 2.42% 265,788 $6.2M Reduce -20.0%
FSUN Firstsun Capital Bancorp 2.07% 140,515 $5.3M Add +73.0%
CIVB Civista Bancshares Inc. 1.96% 225,335 $5.0M No change
BANC Banc of California Inc. 1.89% 250,000 $4.8M New
BCAL California Bancorp 1.86% 254,878 $4.8M Reduce -25.3%
CBC Central Bancompany 1.85% 200,601 $4.7M New
SFNC Simmons First Natl Corp. Class A 1.85% 250,000 $4.7M Reduce -38.5%
FLG Flagstar Bank NA 1.56% 316,332 $4.0M Add +1813.7%
BY Byline Bancorp Inc. 1.43% 125,000 $3.6M No change
FRME First Merchants Corp. 1.40% 95,000 $3.6M Add +26.7%
AUB Atlantic Union Bankshares Co. 1.38% 100,000 $3.5M Add +100.0%
CCB Coastal Financial Corp. 1.35% 30,000 $3.4M Add +1.0%
FISI Financial Institutions Inc. 1.22% 100,000 $3.1M Reduce -5.7%
BBT Beacon Financial Corp. 1.10% 106,393 $2.8M Add +432.0%
NPB Northpointe Bancshares Inc. 1.09% 165,614 $2.8M No change
SHBI Shore Bancshares Inc. 1.08% 155,290 $2.7M No change
FFWM First Foundation Inc. 0.97% 400,000 $2.5M No change
NIC Nicolet Bankshares Inc. 0.95% 20,000 $2.4M Add +1.0%
CARE Carter Bankshares Inc. 0.90% 117,392 $2.3M No change
PFS Provident Financial Services 0.89% 115,000 $2.3M Reduce -8.0%
BWB Bridgewater Bancshares Inc. 0.82% 120,000 $2.1M Reduce -5.9%
HTB Hometrust Bancshares Inc. 0.79% 46,847 $2.0M No change
OSBC Old Second Bancorp Inc. 0.76% 100,000 $1.9M No change
ABCB Ameris Bancorp 0.74% 25,500 $1.9M Add +1.0%
LOB Live Oak Bancshares Inc. 0.67% 50,000 $1.7M Add +0.5%
BUSE First Busey Corp. 0.47% 50,000 $1.2M No change
ONB Old National Bancorp 0.44% 50,000 $1.1M Reduce -66.6%
PGC Peapack Gladstone Finl Corp. 0.43% 39,677 $1.1M Add +63.4%
ISTR Investar Holding Corp. 0.40% 38,037 $1.0M No change
MNSB Mainstreet Bancshares Inc. 0.38% 47,312 $963K Add +22.8%
CBSH Commerce Bancshares Inc. 0.29% 14,123 $742K New
NBTB N B T Bancorp Inc. 0.24% 15,000 $623K No change
MRBK Meridian Corp. 0.18% 26,722 $470K No change
SFST Southern First Bancshares 0.11% 5,582 $288K No change

Options reported separately and not counted above: SPY puts ($13.6M), KRE puts ($11.3M), XLF puts ($11.0M), IWM puts ($9.8M), HYG puts ($8.1M), TFC calls ($6.2M), KBE puts ($4.6M), STT calls ($3.2M), PNC puts ($3.1M), KEY puts ($3.1M), CFG puts ($2.9M), HBAN puts ($1.7M), and 3 more.

Portfolio Sells Q3 2025 → Q4 2025
MCHB Mechanics Bancorp Class A Reduce -31.1% 4.17% −2.23
SFNC Simmons First Natl Corp. Class A Reduce -38.5% 1.85% −1.70
SNV Synovus Financial Corp. Sold out 0.00% −1.10
FFIC Flushing Financial Corp. Sold out 0.00% −1.08
ONB Old National Bancorp Reduce -66.6% 0.44% −1.06
AVBH Avidbank Holdings Inc. Reduce -21.2% 2.44% −1.02
COSO Coastal South Bancshares Inc. Reduce -20.0% 2.42% −0.87
CADE Cadence Bank Sold out 0.00% −0.85
BAC Bank of America Corp. Sold out 0.00% −0.78
WSBC Wesbanco Inc. Sold out 0.00% −0.73
BCAL California Bancorp Reduce -25.3% 1.86% −0.73
COFS Choiceone Financial SVCS Inc. Sold out 0.00% −0.66
EQBK Equity Bancshares Inc. Class A Reduce -1.9% 6.74% −0.53
OCFC Oceanfirst Financial Corp. Sold out 0.00% −0.40
HTBK Heritage Commerce Corp. Sold out 0.00% −0.23
PFS Provident Financial Services Reduce -8.0% 0.89% −0.21
LNKB Linkbancorp Inc. Sold out 0.00% −0.20
BWB Bridgewater Bancshares Inc. Reduce -5.9% 0.82% −0.20
FISI Financial Institutions Inc. Reduce -5.7% 1.22% −0.09

Portfolio Buys Q3 2025 → Q4 2025
CBK Commercial Bancgroup Inc. New 3.61% +3.61
FBK FB Financial Corp. New 2.62% +2.62
BANC Banc of California Inc. New 1.89% +1.89
CBC Central Bancompany New 1.85% +1.85
ABX Abacus Global Management Inc. Add +4.9% 6.74% +1.74
FLG Flagstar Bank NA Add +1813.7% 1.56% +1.47
BBT Beacon Financial Corp. Add +432.0% 1.10% +0.88
MOFG Midwestone Financial Group I Add +22.7% 2.78% +0.85
FSUN Firstsun Capital Bancorp Add +73.0% 2.07% +0.64
AUB Atlantic Union Bankshares Co. Add +100.0% 1.38% +0.58
VBNK Versabank Add +2.6% 6.03% +0.32
CBSH Commerce Bancshares Inc. New 0.29% +0.29
PGC Peapack Gladstone Finl Corp. Add +63.4% 0.43% +0.13
FRME First Merchants Corp. Add +26.7% 1.40% +0.11
MNSB Mainstreet Bancshares Inc. Add +22.8% 0.38% +0.04
ABCB Ameris Bancorp Add +1.0% 0.74% −0.07
CCB Coastal Financial Corp. Add +1.0% 1.35% −0.09
LOB Live Oak Bancshares Inc. Add +0.5% 0.67% −0.09
AMTB Amerant Bancorp Inc. Add +4.7% 2.50% −0.23
NIC Nicolet Bankshares Inc. Add +1.0% 0.95% −0.25
FHN First Horizon Corp. Add +1.6% 4.36% −0.36
RNST Renasant Corp. Add +8.0% 3.73% −0.47

Options Activity Q3 2025 → Q4 2025
SPY SS SPDR S&P 500 ETF Trust-US put Add +100.0% 20,000 $13.6M
KRE SS SPDR S&P Regional Bank put Add +133.3% 175,000 $11.3M
XLF SS Financial Select Sector put Add +300.0% 200,000 $11.0M
IWM iShares Russell 2000 ETF put Add +166.7% 40,000 $9.8M
HYG Ishr Ibx Usd Hiyld CB ETF-Ui put New 100,000 $8.1M
FBK FB Financial Corp. call Sold out 144,000 $7.6Mbefore exit
TFC Truist Financial Corp. call New 125,000 $6.2M
BANC Banc of California Inc. call Sold out 297,025 $4.8Mbefore exit
KBE SS SPDR S&P Bank ETF put Add +200.0% 75,000 $4.6M
FLG Flagstar Bank NA call Sold out 298,552 $3.4Mbefore exit
STT State Street Corp. call New 25,000 $3.2M
PNC PNC Financial Services Group put New 15,000 $3.1M
KEY Keycorp put Add +500.0% 150,000 $3.1M
CFG Citizens Financial Group put Add +233.3% 50,000 $2.9M
MTB M & T Bank Corp. put Sold out 7,500 $1.5Mbefore exit
USB US Bancorp put New 25,000 $1.3M
ALLY Ally Financial Inc. put New 25,000 $1.1M
FITB Fifth Third Bancorp put Sold out 25,000 $1.1Mbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 46$282.9MABX, VBNK, EQBK, FRST, FSUN
Q1 2026 53$258.0MEQBK, FRST, ABX, VBNK, NIC
Q4 2025 50$255.2MABX, EQBK, FRST, VBNK, FHN
Q3 2025 54$219.7MEQBK, MCHB, FRST, VBNK, ABX
Q2 2025 50$206.3MEQBK, FRST, VBNK, USCB, FHN
Q1 2025 53$216.0MEQBK, USCB, FRST, ABX, VBNK
Q4 2024 39$177.3MEQBK, VBNK, FRST, USCB, ABX
Q3 2024 40$155.0MEQBK, FRST, USCB, AMTB, FBMS
Q2 2024 45$161.5MEQBK, FRST, USCB, BFST, FBMS
Q1 2024 47$177.1MEQBK, FRST, BFST, FBMS, USCB