BANC FUNDS CO LLC Q3 2019 Filing

Filed November 14, 2019

Portfolio Value

$1.3B

Holdings

217

Report Date

Q3 2019

Filing Type

13F-HR

All Holdings (217 positions)

#	Stock	Shares	Value	% Portfolio
1	PGCPeapack-Gladstone Financial Corporation	1,114,214	$31.2M	2.36%
2	SFSTSouthern First Bancshares, Inc.	738,654	$29.4M	2.22%
3	MBWMMercantile Bank Corporation	864,936	$28.4M	2.14%
4	SD2Sandy Spring Bancorp Inc.	811,635	$27.4M	2.06%
5	—TriState Capital Holdings, Inc.	1,291,466	$27.2M	2.05%
6	OSBCOld Second Bancorp, Inc.	2,113,973	$25.8M	1.95%
7	LBAIUSDLakeland Bancorp, Inc.	1,513,027	$23.3M	1.76%
8	FFWMFirst Foundation Inc.	1,464,601	$22.4M	1.69%
9	CSFLUSDCenterState Bank Corporation	874,562	$21.0M	1.58%
10	BPFHBoston Private Financial Holdings, Inc.	1,772,893	$20.7M	1.56%
11	—Southern National Bancorp of Virginia,Inc.	1,340,319	$20.6M	1.56%
12	UTBUnity Bancorp, Inc.	856,568	$19.0M	1.43%
13	—SB One Bancorp	840,148	$19.0M	1.43%
14	VBTXVeritex Holdings, Inc.	776,755	$18.8M	1.42%
15	FBIZFirst Business Financial Services	698,463	$16.8M	1.27%
16	FBMSUSDFirst Bancshares, Inc.	509,778	$16.5M	1.24%
17	FRBAFirst Bank	1,516,264	$16.4M	1.24%
18	ABCBAmeris Bancorp	402,711	$16.2M	1.22%
19	TFINTriumph Bancorp, Inc.	474,661	$15.1M	1.14%
20	—Level One Bancorp, Inc.	622,929	$15.0M	1.13%
21	—Codorus Valley Bancorp, Inc.	645,224	$15.0M	1.13%
22	WTBFBW.T.B. Financial Corporation	41,285	$14.6M	1.10%
23	—First Choice Bancorp	680,759	$14.5M	1.10%
24	—Allegiance Bancshares, Inc.	437,758	$14.0M	1.06%
25	OBKOrigin Bancorp Inc.	406,064	$13.7M	1.03%
26	CNOBConnectOne Bancorp, Inc.	612,793	$13.6M	1.03%
27	CFBCrossFirst Bankshares, Inc.	932,539	$13.3M	1.01%
28	BWFGBankwell Financial Group, Inc.	467,232	$12.8M	0.97%
29	BFSTBusiness First Bancshares, Inc.	525,149	$12.8M	0.97%
30	MNSBMainStreet Bancshares, Inc.	587,941	$12.4M	0.93%
31	—Spirit of Texas Bancshares, Inc.	565,100	$12.2M	0.92%
32	SMBKSmartFinancial, Inc.	566,877	$11.8M	0.89%
33	ISTRInvestar Holding Corporation	484,598	$11.5M	0.87%
34	—Malvern Bancorp, Inc.	524,142	$11.4M	0.86%
35	—1st Constitution Bancorp	603,456	$11.3M	0.85%
36	—Iberiabank Corp	144,106	$10.9M	0.82%
37	—Suncrest Bank	971,883	$10.7M	0.81%
38	SBG1Seacoast Banking Corporation of Florida	406,639	$10.3M	0.78%
39	PBAMPrivate Bancorp of America, Inc.	497,109	$10.1M	0.76%
40	MRBKMeridian Bank	559,964	$9.9M	0.75%
41	MYFWFirst Western Financial, Inc.	581,007	$9.9M	0.75%
42	EBTCEnterprise Bancorp, Inc.	317,869	$9.5M	0.72%
43	BYByline Bancorp, Inc.	521,906	$9.3M	0.70%
44	—Cambridge Bancorp	122,370	$9.2M	0.69%
45	QCRHQCR Holdings, Inc.	241,261	$9.2M	0.69%
46	—Dime Community Bancshares, Inc.	427,600	$9.2M	0.69%
47	FRBKQRepublic First Bancorp, Inc.	2,145,576	$9.0M	0.68%
48	BPRNUSDBank of Princeton	296,521	$8.6M	0.65%
49	SHBIShore Bancshares, Inc.	556,916	$8.6M	0.65%
50	SYU1Synovus Financial Corp.	236,320	$8.5M	0.64%
51	MVBFMVB Financial Corp.	414,375	$8.2M	0.62%
52	CCNECNB Financial Corporation	275,714	$7.9M	0.60%
53	WSBFWaterstone Financial, Inc.	453,456	$7.8M	0.59%
54	—Bank of Southern California, N. A.	618,680	$7.7M	0.58%
55	—Revere Bank	223,617	$7.7M	0.58%
56	SBNCSouthern BancShares (N.C.), Inc.	2,038	$7.7M	0.58%
57	AVBHAvidbank Holdings, Inc.	313,012	$7.5M	0.57%
58	PSBQPSB Holdings, Inc.	280,763	$7.4M	0.56%
59	—Pacific Mercantile Bancorp	988,884	$7.4M	0.56%
60	EGBNEagle Bancorp, Inc.	163,777	$7.3M	0.55%
61	MCBMetropolitan Bank Holding Corp.	184,592	$7.3M	0.55%
62	FNRNFirst Northern Community Bancorp	653,212	$7.2M	0.54%
63	—Old Line Bancshares, Inc.	244,634	$7.1M	0.54%
64	CBNABridge Bancorp Inc.	237,689	$7.0M	0.53%
65	BSRRSierra Bancorp	264,487	$7.0M	0.53%
66	—Centric Financial Corporation	716,563	$7.0M	0.52%
67	MCBIMountain Commerce Bancorp	362,453	$6.9M	0.52%
68	—Northway Financial, Inc.	216,442	$6.9M	0.52%
69	EQBKEquity Bancshares, Inc.	255,397	$6.8M	0.52%
70	SAMGSilvercrest Asset Management Group Inc.	552,858	$6.8M	0.51%
71	—Carolina Financial Corporation	186,580	$6.6M	0.50%
72	WBBWWestbury Bancorp, Inc.	252,670	$6.5M	0.49%
73	—Reliant Bancorp, Inc.	263,364	$6.3M	0.48%
74	MFGIMerchants Financial Group, Inc.	86,437	$6.3M	0.47%
75	CZWICitizens Community Bancorp, Inc.	545,773	$6.0M	0.46%
76	—County Bancorp, Inc.	307,385	$6.0M	0.46%
77	TCFCUSDCommunity Financial Corporation	179,532	$6.0M	0.45%
78	AMBZAmerican Business Bank	176,054	$6.0M	0.45%
79	—California BanCorp	317,374	$5.9M	0.45%
80	—American Riviera Bank	325,940	$5.8M	0.44%
81	OVLYOak Valley Bancorp	346,659	$5.8M	0.44%
82	QNBCQNB Corp.	157,223	$5.7M	0.43%
83	FGFHForesight Financial Group, Inc.	160,524	$5.7M	0.43%
84	SBTEURSterling Bancorp, Inc.	583,100	$5.7M	0.43%
85	—Bank of Commerce Holdings	518,866	$5.7M	0.43%
86	—Pacific Financial Corporation	500,266	$5.6M	0.42%
87	—Fentura Financial, Inc.	264,370	$5.6M	0.42%
88	BCBPBCB Bancorp, Inc.	420,996	$5.4M	0.41%
89	—Riverview Financial Corporation	431,816	$5.0M	0.38%
90	OBTOrange County Bancorp	178,344	$5.0M	0.37%
91	—FineMark Holdings, Inc.	197,100	$4.9M	0.37%
92	—TGR Financial, Inc.	468,518	$4.9M	0.37%
93	—Limestone Bancorp, Inc.	316,802	$4.9M	0.37%
94	—Community Bank of the Bay	695,207	$4.8M	0.36%
95	FVCBFirst Virginia Community Bank	273,366	$4.8M	0.36%
96	ALRSAlerus Financial Corporation	215,000	$4.7M	0.35%
97	—Bay Banks of Virginia, Inc.	551,178	$4.5M	0.34%
98	FMBIUSDFirst Midwest Bancorp, Inc.	231,766	$4.5M	0.34%
99	—Beach Community Bancshares, Inc.	900,000	$4.5M	0.34%
100	BRBSBlue Ridge Bankshares, Inc.	225,000	$4.5M	0.34%

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