PL Capital Advisors, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 10, 2026), PL Capital Advisors, LLC reported 26 stock positions worth $317.2 million. Its top holding was Banc of California (BANC) at 17.9% of the portfolio, followed by Financial Institutions (FISI, 17.7%) and Enterprise Financial Service (EFSC, 12.5%). Compared with Q3 2025, it opened 4 new positions, sold out of 4, added to 8 and reduced 4. The biggest buy was Financial Institutions (FISI, shares +2%) and the biggest sale an exit from Merchants Bancorp (MBIN).
- Most Recent 13F
- Q2 2026
- Location
- NAPLES, FL
- CIK
- 0001569147
- Portfolio Value
- $317.2M (Q4 2025)
- SEC Filing
- 0000897069-26-000265 ↗ filed Feb 10, 2026
Holdings Value
Holdings 26 stocks · $317.2M
| BANC Banc of California Inc. | 17.93% | 2,949,219 | $56.9M | No change |
| FISI Financial Institutions Inc. | 17.71% | 1,802,791 | $56.2M | Add +1.6% |
| EFSC Enterprise Financial Service | 12.48% | 733,329 | $39.6M | Add +4.9% |
| HBNC Horizon Bancorp Inc. | 9.69% | 1,812,825 | $30.7M | Add +7.2% |
| FRME First Merchants Corp. | 8.11% | 686,333 | $25.7M | No change |
| FNB FNB Corp. | 7.61% | 1,412,765 | $24.2M | No change |
| FNWD Finward Bancorp | 4.39% | 395,716 | $13.9M | No change |
| ARBV American Riviera Bancorp | 4.29% | 569,500 | $13.6M | Reduce -1.4% |
| IBCP Independent Bank Corp. - Mich | 3.27% | 318,985 | $10.4M | No change |
| NBTB N B T Bancorp Inc. | 2.72% | 208,030 | $8.6M | Reduce -28.5% |
| FRBA First Bank/Hamilton NJ | 2.48% | 478,887 | $7.9M | No change |
| CWBC Community West Bancshares | 2.34% | 329,551 | $7.4M | Reduce -22.6% |
| CHMG Chemung Financial Corp. | 1.92% | 109,336 | $6.1M | Add +84.9% |
| FRST Primis Financial Corp. | 1.04% | 237,241 | $3.3M | Reduce -50.1% |
| MGYR Magyar Bancorp Inc. | 1.00% | 183,317 | $3.2M | No change |
| FHN First Horizon Corp. | 0.75% | 100,000 | $2.4M | New |
| ORRF Orrstown Finl Services Inc. | 0.72% | 64,356 | $2.3M | No change |
| PGC Peapack Gladstone Finl Corp. | 0.40% | 45,500 | $1.3M | New |
| CBAF Citba Financial Corp. | 0.35% | 29,254 | $1.1M | Add +35.1% |
| FMBM F & M Bank Corp. | 0.32% | 35,153 | $1.0M | Add +90.4% |
| INBC Inbankshares Corp. | 0.20% | 54,085 | $646K | No change |
| FNRN First Northern Community Ban | 0.15% | 36,500 | $488K | No change |
| PBNC PB Finl Corp. | 0.06% | 3,500 | $194K | Add +75.0% |
| TRVR Two Rivers Financial Group | 0.04% | 2,730 | $128K | Add +12.2% |
| RMBI Richmond Mutual Bancorporati | 0.00% | 632 | $9K | New |
| MFGI Merchants Financial Group Inc. | 0.00% | 180 | $6K | New |
Portfolio Sells Q3 2025 → Q4 2025
| MBIN Merchants Bancorp | Sold out | 0.00% | −1.99 |
| NBTB N B T Bancorp Inc. | Reduce -28.5% | 2.72% | −1.31 |
| FITB Fifth Third Bancorp | Sold out | 0.00% | −0.67 |
| FRST Primis Financial Corp. | Reduce -50.1% | 1.04% | −0.62 |
| CWBC Community West Bancshares | Reduce -22.6% | 2.34% | −0.61 |
| FXNC First National Corp. | Sold out | 0.00% | −0.02 |
| CYSM Community Bancorp of Santa | Sold out | 0.00% | −0.01 |
| ARBV American Riviera Bancorp | Reduce -1.4% | 4.29% | +0.08 |
Portfolio Buys Q3 2025 → Q4 2025
| FISI Financial Institutions Inc. | Add +1.6% | 17.71% | +1.69 |
| CHMG Chemung Financial Corp. | Add +84.9% | 1.92% | +0.89 |
| FHN First Horizon Corp. | New | 0.75% | +0.75 |
| HBNC Horizon Bancorp Inc. | Add +7.2% | 9.69% | +0.71 |
| PGC Peapack Gladstone Finl Corp. | New | 0.40% | +0.40 |
| FMBM F & M Bank Corp. | Add +90.4% | 0.32% | +0.16 |
| CBAF Citba Financial Corp. | Add +35.1% | 0.35% | +0.14 |
| PBNC PB Finl Corp. | Add +75.0% | 0.06% | +0.03 |
| TRVR Two Rivers Financial Group | Add +12.2% | 0.04% | +0.01 |
| RMBI Richmond Mutual Bancorporati | New | 0.00% | +0.00 |
| MFGI Merchants Financial Group Inc. | New | 0.00% | +0.00 |
| EFSC Enterprise Financial Service | Add +4.9% | 12.48% | −0.96 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 31 | $359.8M | FISI, BANC, EFSC, HBNC, FRME |
| Q1 2026 | 30 | $331.6M | FISI, BANC, EFSC, HBNC, FRME |
| Q4 2025 | 26 | $317.2M | BANC, FISI, EFSC, HBNC, FRME |
| Q3 2025 | 26 | $301.4M | BANC, FISI, EFSC, HBNC, FRME |
| Q2 2025 | 25 | $299.7M | BANC, EFSC, FISI, OPOF, FRME |
| Q1 2025 | 27 | $297.7M | BANC, EFSC, FISI, FRME, EVBN |
| Q4 2024Amended | 29 | $293.0M | BANC, EFSC, FRME, EVBN, HBNC |
| Q3 2024 | 27 | $280.9M | BANC, EFSC, FISI, FRME, EVBN |
| Q2 2024 | 28 | $240.5M | BANC, EFSC, FRME, HBNC, FNB |
| Q1 2024 | 31 | $262.5M | BANC, EFSC, FRME, FNB, HBNC |