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 Bank	Common	31944C107	4,219	441,732	SH		SOLE		441,732	0	0
1st Colonial Bancorp	Common	319716106	2,391	467,083	SH		SOLE		467,083	0	0
1st Constitution Bancorp	Common	31986N102	7,609	613,656	SH		SOLE		613,656	0	0
Alerus Financial Corporation	Common	01446U103	4,248	215,000	SH		SOLE		215,000	0	0
Allegiance Bancshares, Inc.	Common	01748H107	6,123	241,162	SH		SOLE		241,162	0	0
AMB Financial Corp.	Common	001984103	984	78,750	SH		SOLE		78,750	0	0
American Business Bank	Common	02475L105	10,331	412,421	SH		SOLE		412,421	0	0
American River Bankshares	Common	029326105	1,498	140,623	SH		SOLE		140,623	0	0
American Riviera Bank	Common	02932A106	4,027	328,740	SH		SOLE		328,740	0	0
Avidbank Holdings, Inc.	Common	05368J103	8,368	563,104	SH		SOLE		563,104	0	0
Bank of Botetourt	Common	063907208	1,019	42,005	SH		SOLE		42,005	0	0
Bank of Commerce Holdings	Common	06424J103	4,224	557,273	SH		SOLE		557,273	0	0
Bank of Fincastle	Common	062113105	1,836	892,972	SH		SOLE		892,972	0	0
Bank of Princeton	Common	064520109	5,693	283,521	SH		SOLE		283,521	0	0
Bank of Santa Clarita	Common	06424K100	447	48,319	SH		SOLE		48,319	0	0
Bank of the James Financial Group, Inc.	Common	470299108	2,041	215,934	SH		SOLE		215,934	0	0
Bankwell Financial Group, Inc.	Common	06654A103	4,376	275,193	SH		SOLE		275,193	0	0
Bay Banks of Virginia, Inc.	Common	072035108	3,812	635,322	SH		SOLE		635,322	0	0
BCB Bancorp, Inc.	Common	055298103	2,557	275,560	SH		SOLE		275,560	0	0
Beach Community Bancshares, Inc.	Common	07332T100	3,375	900,000	SH		SOLE		900,000	0	0
Blue Ridge Bankshares, Inc.	Common	095825105	3,422	225,000	SH		SOLE		225,000	0	0
Blueharbor bank	Common	095613105	92	10,800	SH		SOLE		10,800	0	0
Boston Private Financial Holdings, Inc.	Common	101119105	11,637	1,691,454	SH		SOLE		1,691,454	0	0
Bridge Bancorp Inc.	Common	108035106	3,457	151,370	SH		SOLE		151,370	0	0
Bridgewater Bancshares, Inc.	Common	108621103	2,436	237,652	SH		SOLE		237,652	0	0
Business First Bancshares, Inc.	Common	12326C105	7,972	519,349	SH		SOLE		519,349	0	0
Byline Bancorp, Inc.	Common	124411109	13,498	1,030,360	SH		SOLE		1,030,360	0	0
California BanCorp	Common	13005U101	6,386	428,562	SH		SOLE		428,562	0	0
Cambridge Bancorp	Common	132152109	6,955	117,396	SH		SOLE		117,396	0	0
Capital Bancorp, Inc.	Common	139737100	741	69,222	SH		SOLE		69,222	0	0
Cashmere Valley Bank	Common	14756K102	3,879	90,203	SH		SOLE		90,203	0	0
CCB Financial	Common	19046P209	1,452	100,000	SH		SOLE		100,000	0	0
Centric Financial Corporation	Common	15641J101	5,367	783,506	SH		SOLE		783,506	0	0
Century Financial Corporation	Common	15652L102	2,202	117,446	SH		SOLE		117,446	0	0
Chino Commercial Bancorp	Common	16957L102	1,391	147,926	SH		SOLE		147,926	0	0
Citizens Bancorp	Common	172950107	1,749	122,749	SH		SOLE		122,749	0	0
Citizens Community Bancorp, Inc.	Common	174903104	6,225	907,507	SH		SOLE		907,507	0	0
CNB Corporation	Common	12612R105	784	12,551	SH		SOLE		12,551	0	0
CNB Financial Corporation	Common	126128107	3,150	175,695	SH		SOLE		175,695	0	0
Coastal Carolina Bancshares, Inc.	Common	190435107	1,731	288,461	SH		SOLE		288,461	0	0
CoastalSouth Bancshares, Inc.	Common	19058X207	1,963	204,249	SH		SOLE		204,249	0	0
Codorus Valley Bancorp, Inc.	Common	192025104	9,220	666,669	SH		SOLE		666,669	0	0
Commencement Bank	Common	20051D107	4,109	365,233	SH		SOLE		365,233	0	0
Communities First Financial Corporation	Common	20344D104	729	31,694	SH		SOLE		31,694	0	0
Community Bancorp of Santa Maria	Common	20344R103	1,738	190,148	SH		SOLE		190,148	0	0
Community Bank of the Bay	Common	203485107	4,204	826,007	SH		SOLE		826,007	0	0
Community Bankers Trust Corporation	Common	203612106	541	98,297	SH		SOLE		98,297	0	0
Community Financial Corporation	Common	20368X101	4,259	174,532	SH		SOLE		174,532	0	0
Community First Bancorporation	Common	203916101	255	41,744	SH		SOLE		41,744	0	0
Community Heritage Financial Inc.	Common	20370L103	1,502	79,474	SH		SOLE		79,474	0	0
ConnectOne Bancorp, Inc.	Common	20786W107	7,397	458,881	SH		SOLE		458,881	0	0
County Bancorp, Inc.	Common	221907108	4,055	193,737	SH		SOLE		193,737	0	0
CrossFirst Bankshares, Inc.	Common	22766M109	14,379	1,470,289	SH		SOLE		1,470,289	0	0
Crystal Valley Financial	Common	22941P100	585	13,000	SH		SOLE		13,000	0	0
Dime Community Bancshares, Inc.	Common	253922108	4,091	297,976	SH		SOLE		297,976	0	0
Eagle Bancorp, Inc.	Common	268948106	5,036	153,777	SH		SOLE		153,777	0	0
Eagle Financial Services Inc.	Common	26951R104	1,269	49,365	SH		SOLE		49,365	0	0
Embassy Bancorp, Inc.	Common	290791102	1,438	113,637	SH		SOLE		113,637	0	0
Empire Bancorp Inc.	Common	291617108	506	49,188	SH		SOLE		49,188	0	0
Enterprise Bancorp, Inc.	Common	293668109	7,502	314,955	SH		SOLE		314,955	0	0
Equity Bancshares, Inc.	Common	29460X109	2,776	159,156	SH		SOLE		159,156	0	0
ES Bancshares, Inc.	Common	296049109	1,424	361,445	SH		SOLE		361,445	0	0
Farmers & Merchants Bancorp	Common	307795104	863	1,222	SH		SOLE		1,222	0	0
Fauquier Bancshares, Inc.	Common	312059108	707	50,177	SH		SOLE		50,177	0	0
FB Financial Corp.	Common	30257X104	1,883	76,000	SH		SOLE		76,000	0	0
FedNat Holding Company	Common	31431B109	482	43,568	SH		SOLE		43,568	0	0
Fentura Financial, Inc.	Common	314645102	6,288	362,445	SH		SOLE		362,445	0	0
FineMark Holdings, Inc.	Common	31788B108	4,536	210,000	SH		SOLE		210,000	0	0
First Bancshares, Inc.	Common	318916103	10,860	482,681	SH		SOLE		482,681	0	0
First Bank	Common	31931U102	8,315	1,275,264	SH		SOLE		1,275,264	0	0
First Business Financial Services	Common	319390100	11,897	723,232	SH		SOLE		723,232	0	0
First Choice Bancorp	Common	31948P104	11,162	681,419	SH		SOLE		681,419	0	0
First Citrus Bancorporation, Inc.	Common	31959T102	526	27,695	SH		SOLE		27,695	0	0
First Farmers and Merchants Corporation	Common	320148109	385	12,500	SH		SOLE		12,500	0	0
First Foundation Inc.	Common	32026V104	18,640	1,140,760	SH		SOLE		1,140,760	0	0
First Home Bancorp, Inc.	Common	32050L105	1,265	89,062	SH		SOLE		89,062	0	0
First Internet Bancorp	Common	320557101	4,204	252,950	SH		SOLE		252,950	0	0
First National Corporation	Common	32106V107	274	19,730	SH		SOLE		19,730	0	0
First Northern Community Bancorp	Common	335925103	7,060	872,653	SH		SOLE		872,653	0	0
First Reliance Bancshares, Inc.	Common	33615Q100	2,051	404,444	SH		SOLE		404,444	0	0
First Virginia Community Bank	Common	36120Q101	398	37,000	SH		SOLE		37,000	0	0
First Western Financial, Inc.	Common	33751L105	9,094	638,207	SH		SOLE		638,207	0	0
FNS Bancshares, Inc.	Common	30253F107	1,677	23,950	SH		SOLE		23,950	0	0
Foresight Financial Group, Inc.	Common	345526107	3,697	139,524	SH		SOLE		139,524	0	0
Franklin Financial Network, Inc.	Common	35352P104	1,552	60,289	SH		SOLE		60,289	0	0
Franklin Financial Services Corp.	Common	353525108	2,354	90,901	SH		SOLE		90,901	0	0
Grand River Commerce, Inc.	Common	386441109	2,848	479,538	SH		SOLE		479,538	0	0
GrandSouth Bancorporation	Common	386627301	1,334	89,800	SH		SOLE		89,800	0	0
HBT Financial, Inc.	Common	404111106	10,552	791,614	SH		SOLE		791,614	0	0
Heritage Commerce Corp	Common	426927109	2,050	273,029	SH		SOLE		273,029	0	0
Howard Bancorp, Inc.	Common	442496105	298	28,037	SH		SOLE		28,037	0	0
Iberiabank Corp	Common	450828108	1,624	35,669	SH		SOLE		35,669	0	0
Investar Holding Corporation	Common	46134L105	10,695	737,594	SH		SOLE		737,594	0	0
John Marshall Bank	Common	47805L101	570	51,775	SH		SOLE		51,775	0	0
Kentucky Bancshares, Inc.	Common	491203105	2,001	120,424	SH		SOLE		120,424	0	0
Lakeland Bancorp, Inc.	Common	511637100	14,499	1,268,516	SH		SOLE		1,268,516	0	0
Ledyard Financial Group, Inc.	Common	523338101	565	30,951	SH		SOLE		30,951	0	0
Level One Bancorp, Inc.	Common	52730D208	6,963	415,959	SH		SOLE		415,959	0	0
Lewis & Clark Bank	Common	527584106	448	22,388	SH		SOLE		22,388	0	0
Limestone Bancorp, Inc.	Common	53262L105	4,587	348,846	SH		SOLE		348,846	0	0
MainStreet Bancshares, Inc.	Common	56064Y100	8,121	615,241	SH		SOLE		615,241	0	0
Malvern Bancorp, Inc.	Common	561409103	7,876	618,699	SH		SOLE		618,699	0	0
McHenry Bancorp, Inc.	Common	580683100	1,350	15,000,000	SH		SOLE		15,000,000	0	0
Mercantile Bank Corporation	Common	587376104	13,232	585,484	SH		SOLE		585,484	0	0
Merchants Bancorp	Common	58844R108	5,434	293,915	SH		SOLE		293,915	0	0
Merchants Financial Group, Inc.	Common	588538108	6,198	116,949	SH		SOLE		116,949	0	0
Meridian Bank	Common	58958P104	8,615	543,539	SH		SOLE		543,539	0	0
Meridian Interstate Bancorp	Common	58958U103	2,698	232,570	SH		SOLE		232,570	0	0
Metro Phoenix Bank	Common	59165E106	2,047	212,767	SH		SOLE		212,767	0	0
Metropolitan Bank Holding Corp.	Common	591774104	5,651	176,161	SH		SOLE		176,161	0	0
Mid Penn Bank	Common	59540G107	1,386	75,222	SH		SOLE		75,222	0	0
Middlefield Banc Corp.	Common	596304204	1,074	51,748	SH		SOLE		51,748	0	0
MidWestOne Financial Group, Inc.	Common	598511103	855	42,764	SH		SOLE		42,764	0	0
Mission Valley Bancorp	Common	60520E104	2,612	285,415	SH		SOLE		285,415	0	0
Mountain Commerce Bancorp	Common	624004107	4,890	307,553	SH		SOLE		307,553	0	0
MVB Financial Corp.	Common	553810102	1,745	131,196	SH		SOLE		131,196	0	0
Northway Financial, Inc.	Common	667270201	4,742	201,623	SH		SOLE		201,623	0	0
NorthWest Indiana Bancorp	Common	667516108	3,004	91,584	SH		SOLE		91,584	0	0
Oak Ridge Financial Services, Inc.	Common	671768109	2,647	225,841	SH		SOLE		225,841	0	0
Oak Valley Bancorp	Common	671807105	3,248	256,172	SH		SOLE		256,172	0	0
Old Second Bancorp, Inc.	Common	680277100	13,892	1,785,600	SH		SOLE		1,785,600	0	0
Orange County Bancorp	Common	68417L107	3,940	165,883	SH		SOLE		165,883	0	0
Oregon Pacific Bancorp	Common	686040205	2,778	677,586	SH		SOLE		677,586	0	0
Origin Bancorp Inc.	Common	68621T102	7,606	345,708	SH		SOLE		345,708	0	0
Pacific Financial Corporation	Common	694275108	4,671	636,314	SH		SOLE		636,314	0	0
Pacific Mercantile Bancorp	Common	694552100	3,936	1,075,521	SH		SOLE		1,075,521	0	0
Pacific West Bank	Common	69506W202	1,950	185,715	SH		SOLE		185,715	0	0
Peapack-Gladstone Financial Corporation	Common	704699107	16,565	884,391	SH		SOLE		884,391	0	0
Peoples Bancorp	Common	70979X107	1,916	14,737	SH		SOLE		14,737	0	0
People's Bank of Commerce	Common	710311101	320	26,648	SH		SOLE		26,648	0	0
Pilot Bancshares, Inc.	Common	721530103	2,006	771,429	SH		SOLE		771,429	0	0
Pinnacle Bancshares, Inc.	Common	722903101	1,110	39,367	SH		SOLE		39,367	0	0
Pinnacle Bank	Common	72346K107	2,650	350,066	SH		SOLE		350,066	0	0
Pinnacle Bankshares Corporation	Common	72345E102	1,797	87,030	SH		SOLE		87,030	0	0
Pioneer Bancshares, Inc	Common	72357G102	1,528	97,000	SH		SOLE		97,000	0	0
Potomac Bancshares, Inc.	Common	737643106	608	57,405	SH		SOLE		57,405	0	0
Prime Meridian Holding Company	Common	74164R107	1,417	103,417	SH		SOLE		103,417	0	0
Private Bancorp of America, Inc.	Common	74274F100	6,815	540,909	SH		SOLE		540,909	0	0
Professional Holding Corp.	Common	743139107	1,388	100,000	SH		SOLE		100,000	0	0
PSB Holdings, Inc.	Common	69360N108	3,703	199,613	SH		SOLE		199,613	0	0
QNB Corp.	Common	74726N107	3,796	134,364	SH		SOLE		134,364	0	0
Red River Bancshares, Inc.	Common	75686R202	1,463	33,334	SH		SOLE		33,334	0	0
Reliant Bancorp, Inc.	Common	75956B101	8,350	512,561	SH		SOLE		512,561	0	0
Republic First Bancorp, Inc.	Common	760416107	5,235	2,145,576	SH		SOLE		2,145,576	0	0
River City Bank	Common	76803X106	3,767	25,962	SH		SOLE		25,962	0	0
Riverview Bancorp, Inc.	Common	769397100	867	153,516	SH		SOLE		153,516	0	0
Riverview Financial Corporation	Common	76940Q105	2,650	492,634	SH		SOLE		492,634	0	0
Sandy Spring Bancorp Inc.	Common	800363103	16,032	646,981	SH		SOLE		646,981	0	0
Santa Cruz County Bank	Common	801827106	2,914	77,718	SH		SOLE		77,718	0	0
SB One Bancorp	Common	78413T103	15,565	790,125	SH		SOLE		790,125	0	0
Seacoast Banking Corporation of Florida	Common	811707801	3,040	149,042	SH		SOLE		149,042	0	0
Sevier County Bancshares, Inc.	Common	81817P206	3,343	217,675	SH		SOLE		217,675	0	0
Shore Bancshares, Inc.	Common	825107105	6,309	568,916	SH		SOLE		568,916	0	0
Sierra Bancorp	Common	82620P102	3,262	172,783	SH		SOLE		172,783	0	0
Silvercrest Asset Management Group Inc.	Common	828359109	6,582	517,858	SH		SOLE		517,858	0	0
SmartFinancial, Inc.	Common	83190L208	8,922	551,430	SH		SOLE		551,430	0	0
Solvay Bank Corporation	Common	83441Q105	509	15,418	SH		SOLE		15,418	0	0
South Atlantic Bancshares, Inc.	Common	83636T104	3,344	372,388	SH		SOLE		372,388	0	0
South Plains Financial, Inc.	Common	83946P107	2,989	209,919	SH		SOLE		209,919	0	0
South State Corporation	Common	840441109	2,275	47,732	SH		SOLE		47,732	0	0
SouthCrest Financial Group, Inc.	Common	84129X107	1,592	267,161	SH		SOLE		267,161	0	0
Southern BancShares (N.C.), Inc.	Common	842243107	7,336	2,096	SH		SOLE		2,096	0	0
Southern California Bancorp	Common	84252A106	7,989	827,901	SH		SOLE		827,901	0	0
Southern First Bancshares, Inc.	Common	842873101	16,473	594,462	SH		SOLE		594,462	0	0
Southern National Bancorp of Virginia,Inc.	Common	843395104	11,214	1,157,295	SH		SOLE		1,157,295	0	0
Southern States Bancshares, Inc.	Common	843878109	3,134	232,143	SH		SOLE		232,143	0	0
SouthPoint Bancshares, Inc.	Common	844647107	1,740	104,826	SH		SOLE		104,826	0	0
Spirit of Texas Bancshares, Inc.	Common	84861D103	8,133	660,705	SH		SOLE		660,705	0	0
Sterling Bancorp, Inc.	Common	85917W102	2,029	566,637	SH		SOLE		566,637	0	0
Summit Bank	Common	86601L105	182	15,200	SH		SOLE		15,200	0	0
Summit State Bank	Common	866264203	1,947	217,051	SH		SOLE		217,051	0	0
Suncrest Bank	Common	86723G109	8,122	982,152	SH		SOLE		982,152	0	0
Surrey Bancorp	Common	86888W105	679	63,785	SH		SOLE		63,785	0	0
Synovus Financial Corp.	Common	87161C501	5,981	291,320	SH		SOLE		291,320	0	0
TGR Financial, Inc.	Common	87243P108	3,971	451,195	SH		SOLE		451,195	0	0
Three Shores Bancorporation, Inc.	Common	885753103	1,267	190,000	SH		SOLE		190,000	0	0
Town and Country Financial Corporation	Common	892039108	197	10,914	SH		SOLE		10,914	0	0
Tri City Bankshares Corporation	Common	895364107	1,409	89,223	SH		SOLE		89,223	0	0
TriState Capital Holdings, Inc.	Common	89678F100	13,711	872,785	SH		SOLE		872,785	0	0
Triumph Bancorp, Inc.	Common	89679E300	9,144	376,749	SH		SOLE		376,749	0	0
Two Rivers Financial Group, Inc.	Common	90206L106	2,076	83,041	SH		SOLE		83,041	0	0
United Bancorporation of Alabama, Inc.	Common	90944R100	812	40,000	SH		SOLE		40,000	0	0
United Bankshares	Common	909907107	3,264	118,018	SH		SOLE		118,018	0	0
United Insurance Holdings Corp.	Common	910710102	229	29,269	SH		SOLE		29,269	0	0
Unity Bancorp, Inc.	Common	913290102	11,606	811,596	SH		SOLE		811,596	0	0
Univest Financial Corporation	Common	915271100	1,387	85,952	SH		SOLE		85,952	0	0
Veritex Holdings, Inc.	Common	923451108	8,220	464,412	SH		SOLE		464,412	0	0
Village Bank and Trust Financial Corp.	Common	92705T200	1,128	36,538	SH		SOLE		36,538	0	0
Virginia National Bankshares Corp.	Common	928031103	446	17,662	SH		SOLE		17,662	0	0
W.T.B. Financial Corporation	Common	929334209	11,242	40,294	SH		SOLE		40,294	0	0
WesBanco, Inc.	Common	950810101	649	31,934	SH		SOLE		31,934	0	0
West Suburban Bancorp, Inc.	Common	956152409	2,420	6,020	SH		SOLE		6,020	0	0
Westbury Bancorp, Inc.	Common	95727P106	3,376	175,370	SH		SOLE		175,370	0	0
White River Bancshares Company	Common	96445A108	1,819	38,280	SH		SOLE		38,280	0	0
York Traditions Bank	Common	987159100	3,747	242,499	SH		SOLE		242,499	0	0