BANC FUNDS CO LLC Q1 2025 Filing

Filed May 14, 2025

Portfolio Value

$758.5M

Holdings

118

Report Date

Q1 2025

Filing Type

13F-HR

All Holdings (118 positions)

#	Stock	Shares	Value	% Portfolio
1	UTBUnity Bancorp, Inc.	604,944	$24.6M	3.25%
2	SSBKSouthern States Bancshares, Inc.	663,484	$23.7M	3.13%
3	AMBZAmerican Business Bank	481,822	$21.5M	2.83%
4	OSBCOld Second Bancorp, Inc.	1,284,578	$21.4M	2.82%
5	PBAMPrivate Bancorp of America, Inc.	358,352	$19.6M	2.59%
6	FRBAFirst Bank	1,203,049	$17.8M	2.35%
7	BCALCalifornia BanCorp.	1,181,878	$16.9M	2.23%
8	—FineMark Holdings, Inc.	650,172	$16.9M	2.23%
9	WCCBWest Coast Community Bancorp	427,642	$16.8M	2.21%
10	AVBHAvidbank Holdings, Inc.	735,277	$16.6M	2.19%
11	FRSTPrimis Financial Corporation	1,601,360	$15.6M	2.06%
12	MBINMerchants Bancorp	385,915	$14.3M	1.88%
13	BANCBanc of California, Inc.	986,629	$14.0M	1.85%
14	PGCPeapack-Gladstone Financial Corporation	473,399	$13.4M	1.77%
15	TCBITexas Capital Bancshares, Inc.	179,205	$13.4M	1.76%
16	MCBMetropolitan Bank Holding Corp.	232,254	$13.0M	1.71%
17	FBIZFirst Business Financial Services, Inc.	274,277	$12.9M	1.71%
18	MYFWFirst Western Financial, Inc.	636,177	$12.5M	1.65%
19	CNOBConnectOne Bancorp, Inc.	475,086	$11.5M	1.52%
20	CBANColony Bankcorp Inc.	700,359	$11.3M	1.49%
21	TFINTriumph Bancorp, Inc.	192,394	$11.1M	1.47%
22	MNSBMainStreet Bancshares, Inc.	651,014	$10.9M	1.43%
23	MPBMid Penn Bank	412,552	$10.7M	1.41%
24	MCBIMountain Commerce Bancorp	512,310	$10.4M	1.37%
25	OBTOrange County Bancorp, Inc.	433,632	$10.1M	1.34%
26	ALPIBAlpine Banks of Colorado	322,498	$10.0M	1.32%
27	BFSTBusiness First Bancshares, Inc.	408,145	$9.9M	1.31%
28	SFSTSouthern First Bancshares, Inc.	299,920	$9.9M	1.30%
29	BPRNPrinceton Bancorp, Inc.	315,428	$9.6M	1.27%
30	MRBKMeridian Bank	659,104	$9.5M	1.25%
31	INBKFirst Internet Bancorp	350,296	$9.4M	1.24%
32	MBWMMercantile Bank Corporation	215,452	$9.4M	1.23%
33	BUSEFirst Busey Corporation	430,929	$9.3M	1.23%
34	SMBKSmartFinancial, Inc.	294,911	$9.2M	1.21%
35	ISTRInvestar Holding Corporation	510,906	$9.0M	1.19%
36	FNRNFirst Northern Community Bancorp	882,564	$9.0M	1.18%
37	TCBXThird Coast Bancshares	268,649	$9.0M	1.18%
38	CCNECNB Financial Corporation	401,776	$8.9M	1.18%
39	COFSChoiceOne Financial Services, Inc.	303,381	$8.7M	1.15%
40	ALRSAlerus Financial Corporation	451,641	$8.3M	1.10%
41	BRBSBlue Ridge Bankshares, Inc.	2,506,902	$8.2M	1.08%
42	VBTXVeritex Holdings, Inc.	283,100	$7.1M	0.93%
43	RCBCRiver City Bank	19,837	$6.9M	0.92%
44	FSUNFirstSun Capital Bancorp	187,705	$6.8M	0.89%
45	FFWMFirst Foundation Inc.	1,306,054	$6.8M	0.89%
46	CZWICitizens Community Bancorp, Inc.	468,742	$6.7M	0.89%
47	BSVNBank7 Corp	171,836	$6.7M	0.88%
48	UBABUnited Bancorporation of Alabama, Inc.	110,813	$5.9M	0.78%
49	SHBIShore Bancshares, Inc.	403,809	$5.5M	0.72%
50	COSOCoastalSouth Bancshares, Inc.	254,557	$5.4M	0.71%
51	ORPBOregon Pacific Bancorp	644,986	$5.1M	0.68%
52	UBFOUnited Security Bankshares	545,672	$4.9M	0.64%
53	—Bremer Financial Corporation	41,667	$4.8M	0.63%
54	BWFGBankwell Financial Group, Inc.	159,377	$4.8M	0.63%
55	SABKSouth Atlantic Bancshares, Inc.	308,952	$4.7M	0.62%
56	CMHFCommunity Heritage Financial Inc.	191,558	$4.7M	0.62%
57	FSRLFirst Reliance Bancshares, Inc.	495,884	$4.7M	0.62%
58	FGFHForesight Financial Group, Inc.	142,598	$4.5M	0.60%
59	PSBQPSB Holdings, Inc.	175,973	$4.5M	0.59%
60	EBTCEnterprise Bancorp, Inc.	112,158	$4.4M	0.58%
61	STBKStudio Bank	409,215	$4.4M	0.58%
62	BSRRSierra Bancorp	153,831	$4.3M	0.57%
63	ARBVAmerican Riviera Bancorp	222,152	$4.3M	0.56%
64	LNKBLinkBancorp	623,533	$4.2M	0.56%
65	HNVRHanover Bancorp Inc.	192,329	$4.2M	0.56%
66	CCNBCoastal Carolina Bancshares, Inc.	357,232	$4.1M	0.53%
67	SSBISummit State Bank	429,395	$4.0M	0.52%
68	WRIVWhite River Bancshares Company	99,000	$3.9M	0.52%
69	FCPBFirst Capital Bancshares, Inc.	368,316	$3.7M	0.49%
70	FSBCFive Star Bancorp	124,919	$3.5M	0.46%
71	AMTBAmerant Bancorp Inc.	165,000	$3.4M	0.45%
72	SOUBSouthPoint Bancshares, Inc.	118,564	$3.4M	0.44%
73	BYByline Bancorp, Inc.	121,612	$3.2M	0.42%
74	FVCBFVCBankcorp Inc.	269,121	$2.8M	0.37%
75	SBKOSummit Bank Group, Inc.	190,501	$2.8M	0.37%
76	USCBUSCB Financial Holdings Inc.	149,230	$2.8M	0.37%
77	DCOMDime Community Bancshares, Inc.	97,948	$2.7M	0.36%
78	GNRVGrand River Commerce, Inc.	675,014	$2.7M	0.35%
79	FISIFinancial Institutions, Inc.	104,000	$2.6M	0.34%
80	MFGIMerchants Financial Group, Inc.	103,777	$2.5M	0.33%
81	PMHGPrime Meridian Holding Company	90,128	$2.5M	0.33%
82	BAFNBayFirst Financial Corp.	150,272	$2.5M	0.33%
83	BLHKBlueharbor Bank	106,602	$2.5M	0.32%
84	SBTEURSterling Bancorp, Inc.	502,061	$2.4M	0.32%
85	BBTBerkshire Hills Bancorp	86,206	$2.2M	0.30%
86	CBWACommencement Bancorp, Inc.	165,960	$2.1M	0.28%
87	EFSIEagle Financial Services Inc.	65,000	$2.1M	0.28%
88	FSBHFSBH Corp	234,250	$2.1M	0.28%
89	TRCYTri City Bankshares Corporation	152,041	$2.1M	0.28%
90	BCTFBancorp 34, Inc.	162,857	$2.1M	0.27%
91	FXNCFirst National Corporation	92,385	$2.1M	0.27%
92	FCCOFirst Community Corporation	91,645	$2.1M	0.27%
93	MVBFMVB Financial Corp.	109,189	$1.9M	0.25%
94	MVLYMission Valley Bancorp	120,617	$1.8M	0.24%
95	PPBNPinnacle Bankshares Corporation	57,682	$1.8M	0.24%
96	BWBBridgewater Bancshares, Inc.	119,479	$1.7M	0.22%
97	HTBKHeritage Commerce Corp	169,539	$1.6M	0.21%
98	PWBKPacific West Bancorp	145,715	$1.6M	0.21%
99	WEXWEX Inc.	9,955	$1.6M	0.21%
100	EDVREndeavor Bancorp	104,091	$1.5M	0.19%

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