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	3,509,212	250,658	SH		SOLE		250,658	0	0
1st Colonial Bancorp	Common	319716106	1,664,336	108,144	SH		SOLE		108,144	0	0
Alerus Financial Corporation	Common	01446U103	12,437,248	543,586	SH		SOLE		543,586	0	0
Alpine Banks of Colorado	Common	020810107	10,186,806	346,490	SH		SOLE		346,490	0	0
Amerant Bancorp Inc.	Common	023576101	3,419,200	160,000	SH		SOLE		160,000	0	0
American Business Bank	Common	02475L105	21,638,510	570,335	SH		SOLE		570,335	0	0
American Riviera Bancorp	Common	02933K103	6,163,960	322,046	SH		SOLE		322,046	0	0
Avidbank Holdings, Inc.	Common	05368J103	13,914,473	713,197	SH		SOLE		713,197	0	0
Banc of California, Inc.	Common	05990K106	15,519,955	1,053,629	SH		SOLE		1,053,629	0	0
Bancorp 34, Inc.	Common	05970V106	1,820,741	162,857	SH		SOLE		162,857	0	0
Bank of Botetourt	Common	063907208	1,189,914	36,624	SH		SOLE		36,624	0	0
Bank of the James Financial Group, Inc.	Common	470299108	316,418	23,029	SH		SOLE		23,029	0	0
Bank7 Corp	Common	06652N107	11,433,446	305,136	SH		SOLE		305,136	0	0
Bankwell Financial Group, Inc.	Common	06654A103	8,464,559	282,623	SH		SOLE		282,623	0	0
Bay Community Bancorp	Common	072205107	6,459,282	480,244	SH		SOLE		480,244	0	0
BayFirst Financial Corp.	Common	07279B104	1,976,077	150,272	SH		SOLE		150,272	0	0
BCB Bancorp, Inc.	Common	055298103	449,633	36,437	SH		SOLE		36,437	0	0
Blue Ridge Bankshares, Inc.	Common	095825105	5,966,022	2,130,722	SH		SOLE		2,130,722	0	0
Blueharbor Bank	Common	095613105	2,132,040	106,602	SH		SOLE		106,602	0	0
Bremer Financial Corporation	Common	107015109	4,166,700	41,667	SH		SOLE		41,667	0	0
Bridgewater Bancshares, Inc.	Common	108621103	1,693,017	119,479	SH		SOLE		119,479	0	0
Business First Bancshares, Inc.	Common	12326C105	11,872,221	462,494	SH		SOLE		462,494	0	0
Byline Bancorp, Inc.	Common	124411109	2,593,745	96,890	SH		SOLE		96,890	0	0
California BanCorp.	Common	84252A106	20,886,231	1,412,186	SH		SOLE		1,412,186	0	0
Capital Bancorp, Inc.	Common	139737100	617,606	24,022	SH		SOLE		24,022	0	0
Cashmere Valley Bank	Common	14756K102	553,553	9,587	SH		SOLE		9,587	0	0
Citizens Community Bancorp, Inc.	Common	174903104	7,934,775	559,970	SH		SOLE		559,970	0	0
CNB Corporation	Common	12612R105	932,620	14,348	SH		SOLE		14,348	0	0
CNB Financial Corporation	Common	126128107	11,586,719	481,576	SH		SOLE		481,576	0	0
Coastal Carolina Bancshares, Inc.	Common	190435107	3,023,606	304,492	SH		SOLE		304,492	0	0
CoastalSouth Bancshares, Inc.	Common	19058X207	5,755,869	292,473	SH		SOLE		292,473	0	0
Colony Bankcorp Inc.	Common	19623P101	15,268,778	983,813	SH		SOLE		983,813	0	0
Commencement Bancorp, Inc.	Common	20051D107	2,889,675	256,860	SH		SOLE		256,860	0	0
Community Heritage Financial Inc.	Common	20370L103	4,274,718	203,558	SH		SOLE		203,558	0	0
ConnectOne Bancorp, Inc.	Common	20786W107	12,251,604	489,086	SH		SOLE		489,086	0	0
CrossFirst Bankshares, Inc.	Common	22766M109	16,090,662	964,090	SH		SOLE		964,090	0	0
Dime Community Bancshares, Inc.	Common	25432X102	2,190,902	76,073	SH		SOLE		76,073	0	0
Dogwood State Bank	Common	25660B103	1,056,702	79,721	SH		SOLE		79,721	0	0
Endeavor Bancorp	Common	29260B109	841,427	83,891	SH		SOLE		83,891	0	0
Enterprise Bancorp, Inc.	Common	293668109	3,387,888	106,004	SH		SOLE		106,004	0	0
ES Bancshares, Inc.	Common	296049109	925,481	145,745	SH		SOLE		145,745	0	0
Fentura Financial, Inc.	Common	314645102	11,561,321	295,913	SH		SOLE		295,913	0	0
FineMark Holdings, Inc.	Common	31788B108	19,245,466	726,244	SH		SOLE		726,244	0	0
First Bank	Common	31931U102	22,863,718	1,504,192	SH		SOLE		1,504,192	0	0
First Business Financial Services, Inc.	Common	319390100	18,310,129	401,626	SH		SOLE		401,626	0	0
First Capital Bancshares, Inc.	Common	31941G101	4,191,835	382,816	SH		SOLE		382,816	0	0
First Community Corporation	Common	319835104	2,989,251	139,424	SH		SOLE		139,424	0	0
First Farmers and Merchants Corporation	Common	320148109	693,174	20,092	SH		SOLE		20,092	0	0
First Foundation Inc.	Common	32026V104	8,443,057	1,353,054	SH		SOLE		1,353,054	0	0
First Internet Bancorp	Common	320557101	12,480,781	364,296	SH		SOLE		364,296	0	0
First National Corporation	Common	32106V107	3,015,093	172,291	SH		SOLE		172,291	0	0
First Northern Community Bancorp	Common	335925103	8,657,531	840,537	SH		SOLE		840,537	0	0
First Reliance Bancshares, Inc.	Common	33615Q100	5,455,158	537,984	SH		SOLE		537,984	0	0
First Western Financial, Inc.	Common	33751L105	14,446,400	722,320	SH		SOLE		722,320	0	0
FirstSun Capital Bancorp	Common	33767U107	9,431,470	221,396	SH		SOLE		221,396	0	0
Five Star Bancorp	Common	33830T103	4,427,362	148,919	SH		SOLE		148,919	0	0
Foresight Financial Group, Inc.	Common	345526107	4,705,734	142,598	SH		SOLE		142,598	0	0
FSBH Corp (was First Southern Bank)	Common	30325F101	1,874,000	234,250	SH		SOLE		234,250	0	0
FVCBankcorp Inc.	Common	36120Q101	3,655,579	280,121	SH		SOLE		280,121	0	0
Grand River Commerce, Inc.	Common	386441109	2,193,796	675,014	SH		SOLE		675,014	0	0
Hanover Bancorp Inc.	Common	410710206	4,086,792	228,440	SH		SOLE		228,440	0	0
HBT Financial, Inc.	Common	404111106	1,587,263	72,544	SH		SOLE		72,544	0	0
Heritage Commerce Corp	Common	426927109	2,695,649	272,839	SH		SOLE		272,839	0	0
Investar Holding Corporation	Common	46134L105	11,328,145	583,925	SH		SOLE		583,925	0	0
LinkBancorp	Common	53578P105	5,539,785	864,241	SH		SOLE		864,241	0	0
Live Oak Bancshares	Common	53803X105	603,968	12,750	SH		SOLE		12,750	0	0
MainStreet Bancshares, Inc.	Common	56064Y100	12,011,208	651,014	SH		SOLE		651,014	0	0
Malaga Financial Corporation	Common	561046103	1,570,309	68,304	SH		SOLE		68,304	0	0
McHenry Bancorp, Inc.	Common	580683209	2,175,000	60,000	SH		SOLE		60,000	0	0
Mercantile Bank Corporation	Common	587376104	13,371,631	305,847	SH		SOLE		305,847	0	0
Merchants Bancorp	Common	58844R108	17,517,090	389,615	SH		SOLE		389,615	0	0
Merchants Financial Group, Inc.	Common	588538108	2,662,226	104,401	SH		SOLE		104,401	0	0
Meridian Bank	Common	58958P104	10,480,494	829,153	SH		SOLE		829,153	0	0
Metropolitan Bank Holding Corp.	Common	591774104	12,632,555	240,254	SH		SOLE		240,254	0	0
Mid Penn Bank	Common	59540G107	10,814,926	362,552	SH		SOLE		362,552	0	0
MidWestOne Financial Group, Inc.	Common	598511103	1,426,500	50,000	SH		SOLE		50,000	0	0
Mission Valley Bancorp	Common	60520E104	2,439,756	163,742	SH		SOLE		163,742	0	0
Mountain Commerce Bancorp	Common	624004107	12,011,260	572,510	SH		SOLE		572,510	0	0
MVB Financial Corp.	Common	553810102	2,113,899	109,189	SH		SOLE		109,189	0	0
Northway Financial, Inc.	Common	667270201	3,197,898	103,158	SH		SOLE		103,158	0	0
Oak Ridge Financial Services, Inc.	Common	671768109	944,333	49,364	SH		SOLE		49,364	0	0
Oak Valley Bancorp	Common	671807105	1,164,351	43,822	SH		SOLE		43,822	0	0
Old Second Bancorp, Inc.	Common	680277100	27,349,350	1,754,288	SH		SOLE		1,754,288	0	0
Orange County Bancorp, Inc.	Common	68417L107	17,364,439	287,872	SH		SOLE		287,872	0	0
Oregon Pacific Bancorp	Common	686040205	4,986,850	661,386	SH		SOLE		661,386	0	0
Origin Bancorp Inc.	Common	68621T102	1,516,087	47,142	SH		SOLE		47,142	0	0
Pacific West Bancorp	Common	69506J102	1,530,008	145,715	SH		SOLE		145,715	0	0
Peapack-Gladstone Financial Corporation	Common	704699107	16,522,721	602,799	SH		SOLE		602,799	0	0
Pinnacle Bank	Common	72346K107	1,773,464	92,128	SH		SOLE		92,128	0	0
Pinnacle Bankshares Corporation	Common	72345E102	2,368,946	79,682	SH		SOLE		79,682	0	0
Potomac Bancshares, Inc.	Common	737643106	500,370	33,492	SH		SOLE		33,492	0	0
Prime Meridian Holding Company	Common	74164R107	5,484,438	215,076	SH		SOLE		215,076	0	0
Primis Financial Corporation	Common	74167B109	20,876,069	1,713,963	SH		SOLE		1,713,963	0	0
Princeton Bancorp, Inc.	Common	74179A107	12,599,678	340,716	SH		SOLE		340,716	0	0
Private Bancorp of America, Inc.	Common	74274F100	18,520,425	411,565	SH		SOLE		411,565	0	0
PSB Holdings, Inc.	Common	69360N108	6,273,900	250,956	SH		SOLE		250,956	0	0
Renasant Corporation	Common	75970E107	1,523,438	46,875	SH		SOLE		46,875	0	0
River City Bank	Common	76803X106	6,207,040	22,168	SH		SOLE		22,168	0	0
Riverview Bancorp, Inc.	Common	769397100	595,080	126,344	SH		SOLE		126,344	0	0
Shore Bancshares, Inc.	Common	825107105	6,462,736	461,954	SH		SOLE		461,954	0	0
Sierra Bancorp	Common	82620P102	10,664,893	369,283	SH		SOLE		369,283	0	0
SmartFinancial, Inc.	Common	83190L208	14,998,737	514,713	SH		SOLE		514,713	0	0
South Atlantic Bancshares, Inc.	Common	83636T104	5,330,834	379,689	SH		SOLE		379,689	0	0
Southern BancShares (N.C.), Inc.	Common	842243107	1,458,139	239	SH		SOLE		239	0	0
Southern First Bancshares, Inc.	Common	842873101	12,617,881	370,243	SH		SOLE		370,243	0	0
Southern States Bancshares, Inc.	Common	843878307	22,039,955	717,213	SH		SOLE		717,213	0	0
SouthPoint Bancshares, Inc.	Common	844647107	3,729,936	109,704	SH		SOLE		109,704	0	0
Sterling Bancorp, Inc.	Common	85917W102	2,284,378	502,061	SH		SOLE		502,061	0	0
Studio Bank	Common	864001102	3,444,150	344,415	SH		SOLE		344,415	0	0
Summit Bank Group, Inc.	Common	86603R100	2,371,737	190,501	SH		SOLE		190,501	0	0
Summit State Bank	Common	866264203	3,628,388	429,395	SH		SOLE		429,395	0	0
Texas Capital Bancshares, Inc.	Common	88224Q107	16,521,909	231,205	SH		SOLE		231,205	0	0
The Bancorp, Inc.	Common	05969A105	2,439,172	45,592	SH		SOLE		45,592	0	0
Third Coast Bancshares	Common	88422P109	11,584,584	432,745	SH		SOLE		432,745	0	0
Traditions Bancorp, Inc.	Common	89269L102	7,493,876	251,895	SH		SOLE		251,895	0	0
Tri City Bankshares Corporation	Common	895364107	2,273,601	169,041	SH		SOLE		169,041	0	0
Triumph Bancorp, Inc.	Common	89679E300	21,017,888	264,243	SH		SOLE		264,243	0	0
United Bancorporation of Alabama, Inc.	Common	90944R100	6,485,322	127,413	SH		SOLE		127,413	0	0
United Security Bankshares	Common	911460103	4,992,041	573,139	SH		SOLE		573,139	0	0
Unity Bancorp, Inc.	Common	913290102	28,611,899	840,044	SH		SOLE		840,044	0	0
USCB Financial Holdings Inc.	Common	90355N101	2,275,758	149,230	SH		SOLE		149,230	0	0
Veritex Holdings, Inc.	Common	923451108	7,974,960	303,000	SH		SOLE		303,000	0	0
West Coast Community Bancorp	Common	952170108	18,194,553	466,527	SH		SOLE		466,527	0	0
WEX Inc.	Common	96208T104	2,087,862	9,955	SH		SOLE		9,955	0	0
White River Bancshares Company	Common	96445A108	3,916,527	137,422	SH		SOLE		137,422	0	0