Banc Funds 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
1st Capital Bancorp	Common	319427100	3,045,495	250,658	SH		SOLE		250,658	0	0
1st Colonial Bancorp	Common	319716106	1,924,232	124,144	SH		SOLE		124,144	0	0
Alerus Financial Corporation	Common	01446U103	10,659,721	543,586	SH		SOLE		543,586	0	0
Alpine Banks of Colorado	Common	020810107	9,728,551	355,966	SH		SOLE		355,966	0	0
American Business Bank	Common	02475L105	17,084,614	560,335	SH		SOLE		560,335	0	0
American Riviera Bancorp	Common	02933K103	6,137,784	369,746	SH		SOLE		369,746	0	0
Avidbank Holdings, Inc.	Common	05368J103	13,151,353	713,197	SH		SOLE		713,197	0	0
Banc of California, Inc.	Common	05990K106	13,465,379	1,053,629	SH		SOLE		1,053,629	0	0
Bancorp 34, Inc.	Common	05970V106	1,481,999	162,857	SH		SOLE		162,857	0	0
Bank of Botetourt	Common	063907208	1,045,615	36,624	SH		SOLE		36,624	0	0
Bank of the James Financial Group, Inc.	Common	470299108	691,083	61,375	SH		SOLE		61,375	0	0
Bank7 Corp	Common	06652N107	10,504,280	335,600	SH		SOLE		335,600	0	0
Bankwell Financial Group, Inc.	Common	06654A103	7,170,146	282,623	SH		SOLE		282,623	0	0
Bay Community Bancorp	Common	072205107	6,171,135	480,244	SH		SOLE		480,244	0	0
BayFirst Financial Corp.	Common	07279B104	1,746,161	150,272	SH		SOLE		150,272	0	0
BCB Bancorp, Inc.	Common	055298103	883,842	83,146	SH		SOLE		83,146	0	0
Blue Ridge Bankshares, Inc.	Common	095825105	3,097,344	1,186,722	SH		SOLE		1,186,722	0	0
Blueharbor Bank	Common	095613105	2,153,360	106,602	SH		SOLE		106,602	0	0
Bridgewater Bancshares, Inc.	Common	108621103	1,584,521	136,479	SH		SOLE		136,479	0	0
Business First Bancshares, Inc.	Common	12326C105	10,618,945	488,003	SH		SOLE		488,003	0	0
Byline Bancorp, Inc.	Common	124411109	2,743,917	115,582	SH		SOLE		115,582	0	0
California BanCorp	Common	13005U101	14,174,886	659,297	SH		SOLE		659,297	0	0
Cambridge Bancorp	Common	132152109	4,902,036	71,044	SH		SOLE		71,044	0	0
Capital Bancorp, Inc.	Common	139737100	492,451	24,022	SH		SOLE		24,022	0	0
Cashmere Valley Bank	Common	14756K102	783,252	15,687	SH		SOLE		15,687	0	0
Citizens Community Bancorp, Inc.	Common	174903104	7,862,046	679,520	SH		SOLE		679,520	0	0
CNB Corporation	Common	12612R105	868,054	14,348	SH		SOLE		14,348	0	0
CNB Financial Corporation	Common	126128107	10,147,607	497,188	SH		SOLE		497,188	0	0
Coastal Carolina Bancshares, Inc.	Common	190435107	2,816,377	309,492	SH		SOLE		309,492	0	0
CoastalSouth Bancshares, Inc.	Common	19058X207	4,907,298	292,973	SH		SOLE		292,973	0	0
Colony Bankcorp Inc.	Common	19623P101	12,928,552	1,055,392	SH		SOLE		1,055,392	0	0
Commencement Bancorp, Inc.	Common	20051D107	2,663,232	274,560	SH		SOLE		274,560	0	0
Community First Bancorporation	Common	203916101	1,076,557	137,141	SH		SOLE		137,141	0	0
Community Heritage Financial Inc.	Common	20370L103	3,662,008	203,558	SH		SOLE		203,558	0	0
ConnectOne Bancorp, Inc.	Common	20786W107	9,144,385	484,086	SH		SOLE		484,086	0	0
Cornerstone Financial Corporation	Common	21925G201	1,008,000	150,000	SH		SOLE		150,000	0	0
CrossFirst Bankshares, Inc.	Common	22766M109	19,246,376	1,372,780	SH		SOLE		1,372,780	0	0
Dime Community Bancshares, Inc	Common	25432X102	2,779,724	136,261	SH		SOLE		136,261	0	0
Endeavor Bancorp	Common	29260B109	562,363	64,270	SH		SOLE		64,270	0	0
Enterprise Bancorp, Inc.	Common	293668109	2,512,980	101,004	SH		SOLE		101,004	0	0
ES Bancshares, Inc.	Common	296049109	1,437,554	250,445	SH		SOLE		250,445	0	0
Fentura Financial, Inc.	Common	314645102	7,261,853	322,749	SH		SOLE		322,749	0	0
FineMark Holdings, Inc.	Common	31788B108	17,698,651	726,844	SH		SOLE		726,844	0	0
First Bank	Common	31931U102	19,163,406	1,504,192	SH		SOLE		1,504,192	0	0
First Business Financial Services	Common	319390100	16,258,215	439,530	SH		SOLE		439,530	0	0
First Capital Bancshares, Inc.	Common	31941G101	3,935,455	401,577	SH		SOLE		401,577	0	0
First Community Corporation	Common	319835104	3,208,069	185,975	SH		SOLE		185,975	0	0
First Farmers and Merchants Corporation	Common	320148109	592,714	20,092	SH		SOLE		20,092	0	0
First Foundation Inc.	Common	32026V104	8,862,504	1,353,054	SH		SOLE		1,353,054	0	0
First Internet Bancorp	Common	320557101	9,843,278	364,296	SH		SOLE		364,296	0	0
First National Corporation	Common	32106V107	2,645,657	174,171	SH		SOLE		174,171	0	0
First Northern Community Bancorp	Common	335925103	7,697,360	850,537	SH		SOLE		850,537	0	0
First Reliance Bancshares, Inc.	Common	33615Q100	4,428,614	560,584	SH		SOLE		560,584	0	0
First Virginia Community Bank	Common	36120Q101	3,245,653	297,221	SH		SOLE		297,221	0	0
First Western Financial, Inc.	Common	33751L105	12,835,119	755,007	SH		SOLE		755,007	0	0
FirstSun Capital Bancorp	Common	33767U107	7,717,141	222,396	SH		SOLE		222,396	0	0
Five Star Bancorp	Common	33830T103	3,829,384	161,919	SH		SOLE		161,919	0	0
Foresight Financial Group, Inc.	Common	345526107	4,064,043	142,598	SH		SOLE		142,598	0	0
FSBH Corp	Common	30325F101	1,815,438	234,250	SH		SOLE		234,250	0	0
Grand River Commerce, Inc.	Common	386441109	1,795,537	675,014	SH		SOLE		675,014	0	0
Hanover Bancorp Inc.	Common	410710206	3,769,260	228,440	SH		SOLE		228,440	0	0
HBT Financial, Inc.	Common	404111106	2,595,239	127,093	SH		SOLE		127,093	0	0
Heritage Commerce Corp	Common	426927109	3,729,159	428,639	SH		SOLE		428,639	0	0
Investar Holding Corporation	Common	46134L105	9,388,102	609,617	SH		SOLE		609,617	0	0
LinkBancorp	Common	53578P105	5,356,475	875,241	SH		SOLE		875,241	0	0
Live Oak Bancshares	Common	53803X105	447,015	12,750	SH		SOLE		12,750	0	0
MainStreet Bancshares, Inc.	Common	56064Y100	11,542,478	651,014	SH		SOLE		651,014	0	0
Malaga Financial Corporation	Common	561046103	1,808,131	79,304	SH		SOLE		79,304	0	0
McHenry Bancorp, Inc.	Common	580683209	2,160,000	60,000	SH		SOLE		60,000	0	0
Mercantile Bank Corporation	Common	587376104	13,686,046	337,344	SH		SOLE		337,344	0	0
Merchants Bancorp	Common	58844R108	15,288,242	377,115	SH		SOLE		377,115	0	0
Merchants Financial Group, Inc.	Common	588538108	3,458,968	145,948	SH		SOLE		145,948	0	0
Meridian Bank	Common	58958P104	8,328,716	791,703	SH		SOLE		791,703	0	0
Metropolitan Bank Holding Corp.	Common	591774104	10,112,291	240,254	SH		SOLE		240,254	0	0
Mid Penn Bank	Common	59540G107	10,093,203	459,827	SH		SOLE		459,827	0	0
Mission Valley Bancorp	Common	60520E104	2,304,915	168,242	SH		SOLE		168,242	0	0
Mountain Commerce Bancorp	Common	624004107	9,794,638	580,595	SH		SOLE		580,595	0	0
MVB Financial Corp.	Common	553810102	2,035,283	109,189	SH		SOLE		109,189	0	0
Northway Financial, Inc.	Common	667270201	2,732,719	149,738	SH		SOLE		149,738	0	0
Oak Ridge Financial Services, Inc.	Common	671768109	834,252	49,364	SH		SOLE		49,364	0	0
Oak Valley Bancorp	Common	671807105	1,810,475	72,506	SH		SOLE		72,506	0	0
Old Second Bancorp, Inc.	Common	680277100	29,259,939	1,975,688	SH		SOLE		1,975,688	0	0
Open Lending Corporation	Common	68373J104	190,948	34,220	SH		SOLE		34,220	0	0
Orange County Bancorp, Inc.	Common	68417L107	16,476,879	311,590	SH		SOLE		311,590	0	0
Oregon Pacific Bancorp	Common	686040205	4,596,633	661,386	SH		SOLE		661,386	0	0
Origin Bancorp Inc.	Common	68621T102	1,495,344	47,142	SH		SOLE		47,142	0	0
Pacific West Bancorp	Common	69506J102	1,165,720	145,715	SH		SOLE		145,715	0	0
Peapack-Gladstone Financial Corporation	Common	704699107	15,306,847	675,799	SH		SOLE		675,799	0	0
Pinnacle Bank	Common	72346K107	1,784,112	108,128	SH		SOLE		108,128	0	0
Pinnacle Bankshares Corporation	Common	72345E102	2,191,255	79,682	SH		SOLE		79,682	0	0
Potomac Bancshares, Inc.	Common	737643106	494,007	33,492	SH		SOLE		33,492	0	0
Prime Meridian Holding Company	Common	74164R107	4,863,487	219,076	SH		SOLE		219,076	0	0
Primis Financial Corporation	Common	74167B109	18,029,404	1,720,363	SH		SOLE		1,720,363	0	0
Princeton Bancorp, Inc.	Common	74179A107	10,228,430	309,016	SH		SOLE		309,016	0	0
Private Bancorp of America, Inc.	Common	74274F100	13,718,586	390,065	SH		SOLE		390,065	0	0
Provident Financial Services, Inc.	Common	74386T105	8,142,922	567,451	SH		SOLE		567,451	0	0
PSB Holdings, Inc.	Common	69360N108	5,731,502	280,956	SH		SOLE		280,956	0	0
River City Bank	Common	76803X106	6,140,536	22,168	SH		SOLE		22,168	0	0
Riverview Bancorp, Inc.	Common	769397100	504,113	126,344	SH		SOLE		126,344	0	0
Shore Bancshares, Inc.	Common	825107105	5,780,372	504,836	SH		SOLE		504,836	0	0
Sierra Bancorp	Common	82620P102	9,632,979	430,428	SH		SOLE		430,428	0	0
Silvercrest Asset Management Group Inc.	Common	828359109	2,041,012	130,918	SH		SOLE		130,918	0	0
SmartFinancial, Inc.	Common	83190L208	13,276,456	560,898	SH		SOLE		560,898	0	0
South Atlantic Bancshares, Inc.	Common	83636T104	5,024,232	405,180	SH		SOLE		405,180	0	0
Southern BancShares (N.C.), Inc.	Common	842243107	1,838,600	317	SH		SOLE		317	0	0
Southern California Bancorp	Common	84252A106	4,901,800	363,905	SH		SOLE		363,905	0	0
Southern First Bancshares, Inc.	Common	842873101	11,732,345	401,243	SH		SOLE		401,243	0	0
Southern States Bancshares, Inc.	Common	843878307	20,155,602	742,653	SH		SOLE		742,653	0	0
SouthPoint Bancshares, Inc.	Common	844647107	3,166,057	109,704	SH		SOLE		109,704	0	0
Sterling Bancorp, Inc.	Common	85917W102	2,625,779	502,061	SH		SOLE		502,061	0	0
Studio Bank	Common	864001102	2,997,039	310,574	SH		SOLE		310,574	0	0
Summit Bank Group, Inc.	Common	86603R100	1,629,491	146,801	SH		SOLE		146,801	0	0
Summit State Bank	Common	866264203	4,152,283	439,395	SH		SOLE		439,395	0	0
Texas Capital Bancshares, Inc.	Common	88224Q107	14,429,346	236,005	SH		SOLE		236,005	0	0
The Bancorp, Inc.	Common	05969A105	1,797,074	47,592	SH		SOLE		47,592	0	0
Third Coast Bancshares	Common	88422P109	10,372,401	487,654	SH		SOLE		487,654	0	0
Traditions Bancorp, Inc.	Common	89269L102	4,166,320	260,395	SH		SOLE		260,395	0	0
Tri City Bankshares Corporation	Common	895364107	1,821,587	171,041	SH		SOLE		171,041	0	0
Triumph Bancorp, Inc.	Common	89679E300	24,013,490	293,743	SH		SOLE		293,743	0	0
United Bancorporation of Alabama, Inc.	Common	90944R100	6,669,834	138,522	SH		SOLE		138,522	0	0
United Security Bankshares	Common	911460103	4,054,396	559,227	SH		SOLE		559,227	0	0
Unity Bancorp, Inc.	Common	913290102	27,826,671	941,044	SH		SOLE		941,044	0	0
USCB Financial Holdings Inc.	Common	90355N101	2,134,014	166,330	SH		SOLE		166,330	0	0
Veritex Holdings, Inc.	Common	923451108	6,348,090	301,000	SH		SOLE		301,000	0	0
West Coast Community Bancorp	Common	952170108	17,314,423	497,827	SH		SOLE		497,827	0	0
WEX Inc.	Common	96208T104	1,763,429	9,955	SH		SOLE		9,955	0	0
White River Bancshares Company	Common	96445A108	3,788,694	70,161	SH		SOLE		70,161	0	0