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	4,172	444,251	SH		SOLE		444,251	0	0
1st Colonial Bancorp	Common	319716106	2,633	478,658	SH		SOLE		478,658	0	0
1st Constitution Bancorp	Common	31986N102	7,616	639,978	SH		SOLE		639,978	0	0
Alerus Financial Corporation	Common	01446U103	4,214	215,000	SH		SOLE		215,000	0	0
Allegiance Bancshares, Inc.	Common	01748H107	4,660	199,399	SH		SOLE		199,399	0	0
AMB Financial Corp.	Common	001984103	941	78,750	SH		SOLE		78,750	0	0
American Business Bank	Common	02475L105	13,288	585,371	SH		SOLE		585,371	0	0
American River Bankshares	Common	029326105	2,068	207,602	SH		SOLE		207,602	0	0
American Riviera Bank	Common	02932A106	3,005	248,377	SH		SOLE		248,377	0	0
Avidbank Holdings, Inc.	Common	05368J103	7,536	570,904	SH		SOLE		570,904	0	0
Bank of Botetourt	Common	063907208	939	42,005	SH		SOLE		42,005	0	0
Bank of Commerce Holdings	Common	06424J103	2,853	409,285	SH		SOLE		409,285	0	0
Bank of Fincastle	Common	062113105	1,840	892,972	SH		SOLE		892,972	0	0
Bank of Princeton	Common	064520109	5,121	281,821	SH		SOLE		281,821	0	0
Bank of the James Financial Group, Inc.	Common	470299108	2,105	215,934	SH		SOLE		215,934	0	0
Bankwell Financial Group, Inc.	Common	06654A103	3,752	265,193	SH		SOLE		265,193	0	0
Bay Banks of Virginia, Inc.	Common	072035108	4,257	635,322	SH		SOLE		635,322	0	0
BCB Bancorp, Inc.	Common	055298103	2,204	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	3,049	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	10,938	1,981,454	SH		SOLE		1,981,454	0	0
Bridge Bancorp Inc.	Common	108035106	2,638	151,370	SH		SOLE		151,370	0	0
Bridgewater Bancshares, Inc.	Common	108621103	2,255	237,652	SH		SOLE		237,652	0	0
Business First Bancshares, Inc.	Common	12326C105	7,790	519,349	SH		SOLE		519,349	0	0
Byline Bancorp, Inc.	Common	124411109	11,848	1,050,360	SH		SOLE		1,050,360	0	0
California BanCorp	Common	13005U101	8,249	728,075	SH		SOLE		728,075	0	0
Cambridge Bancorp	Common	132152109	5,805	109,196	SH		SOLE		109,196	0	0
Capital Bancorp, Inc.	Common	139737100	655	69,222	SH		SOLE		69,222	0	0
Cashmere Valley Bank	Common	14756K102	3,809	84,706	SH		SOLE		84,706	0	0
CBTX, Inc.	Common	12481V104	428	26,200	SH		SOLE		26,200	0	0
CCB Financial	Common	19046P209	1,225	100,000	SH		SOLE		100,000	0	0
Centric Financial Corporation	Common	15641J101	5,190	691,956	SH		SOLE		691,956	0	0
Century Financial Corporation	Common	15652L102	1,904	104,346	SH		SOLE		104,346	0	0
Chino Commercial Bancorp	Common	16957L102	1,460	149,733	SH		SOLE		149,733	0	0
Citizens Bancorp	Common	172950107	1,737	122,749	SH		SOLE		122,749	0	0
Citizens Community Bancorp, Inc.	Common	174903104	7,045	1,022,468	SH		SOLE		1,022,468	0	0
CNB Corporation	Common	12612R105	951	12,551	SH		SOLE		12,551	0	0
CNB Financial Corporation	Common	126128107	2,377	159,822	SH		SOLE		159,822	0	0
Coastal Carolina Bancshares, Inc.	Common	190435107	1,532	288,461	SH		SOLE		288,461	0	0
CoastalSouth Bancshares, Inc.	Common	19058X207	2,247	204,249	SH		SOLE		204,249	0	0
Codorus Valley Bancorp, Inc.	Common	192025104	8,583	655,167	SH		SOLE		655,167	0	0
Commencement Bancorp, Inc.	Common	20051D107	3,539	354,233	SH		SOLE		354,233	0	0
Community Bancorp of Santa Maria	Common	20344R103	1,540	179,048	SH		SOLE		179,048	0	0
Community Bank of the Bay	Common	203485107	4,105	826,007	SH		SOLE		826,007	0	0
Community Financial Corporation	Common	20368X101	3,726	174,532	SH		SOLE		174,532	0	0
Community First Bancorporation	Common	203916101	248	41,744	SH		SOLE		41,744	0	0
Community Heritage Financial Inc.	Common	20370L103	1,315	79,474	SH		SOLE		79,474	0	0
ConnectOne Bancorp, Inc.	Common	20786W107	8,088	574,857	SH		SOLE		574,857	0	0
County Bancorp, Inc.	Common	221907108	3,421	181,961	SH		SOLE		181,961	0	0
CrossFirst Bankshares, Inc.	Common	22766M109	12,777	1,470,289	SH		SOLE		1,470,289	0	0
Crystal Valley Financial	Common	22941P100	608	13,000	SH		SOLE		13,000	0	0
Dime Community Bancshares, Inc.	Common	253922108	3,370	297,976	SH		SOLE		297,976	0	0
Eagle Bancorp, Inc.	Common	268948106	4,958	185,087	SH		SOLE		185,087	0	0
Eagle Financial Services Inc.	Common	26951R104	1,074	42,633	SH		SOLE		42,633	0	0
Empire Bancorp Inc.	Common	291617108	521	49,188	SH		SOLE		49,188	0	0
Enterprise Bancorp, Inc.	Common	293668109	6,620	314,955	SH		SOLE		314,955	0	0
Equity Bancshares, Inc.	Common	29460X109	3,683	237,637	SH		SOLE		237,637	0	0
ES Bancshares, Inc.	Common	296049109	1,428	361,445	SH		SOLE		361,445	0	0
Farmers & Merchants Bancorp	Common	307795104	886	1,222	SH		SOLE		1,222	0	0
Fauquier Bancshares, Inc.	Common	312059108	633	42,061	SH		SOLE		42,061	0	0
FB Financial Corp.	Common	30257X104	3,371	134,178	SH		SOLE		134,178	0	0
Fentura Financial, Inc.	Common	314645102	5,764	340,470	SH		SOLE		340,470	0	0
FineMark Holdings, Inc.	Common	31788B108	4,076	205,330	SH		SOLE		205,330	0	0
First Bancshares, Inc.	Common	318916103	8,236	392,768	SH		SOLE		392,768	0	0
First Bank	Common	31931U102	7,690	1,240,264	SH		SOLE		1,240,264	0	0
First Business Financial Services	Common	319390100	10,889	762,029	SH		SOLE		762,029	0	0
First Choice Bancorp	Common	31948P104	8,651	650,905	SH		SOLE		650,905	0	0
First Citrus Bancorporation, Inc.	Common	31959T102	500	27,695	SH		SOLE		27,695	0	0
First Community Corporation	Common	319835104	434	31,813	SH		SOLE		31,813	0	0
First Farmers and Merchants Corporation	Common	320148109	341	12,500	SH		SOLE		12,500	0	0
First Foundation Inc.	Common	32026V104	14,341	1,097,260	SH		SOLE		1,097,260	0	0
First Home Bancorp, Inc.	Common	32050L105	1,781	89,062	SH		SOLE		89,062	0	0
First Horizon National Corporation	Common	320517105	1,542	163,505	SH		SOLE		163,505	0	0
First Internet Bancorp	Common	320557101	4,990	338,747	SH		SOLE		338,747	0	0
First National Corporation	Common	32106V107	189	13,385	SH		SOLE		13,385	0	0
First Northern Community Bancorp	Common	335925103	7,084	863,872	SH		SOLE		863,872	0	0
First Reliance Bancshares, Inc.	Common	33615Q100	2,624	433,766	SH		SOLE		433,766	0	0
First Southern Bank	Common	33650R104	1,300	162,500	SH		SOLE		162,500	0	0
First Virginia Community Bank	Common	36120Q101	1,217	121,687	SH		SOLE		121,687	0	0
First Western Financial, Inc.	Common	33751L105	8,265	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	3,202	139,524	SH		SOLE		139,524	0	0
Franklin Financial Services Corp.	Common	353525108	1,943	90,901	SH		SOLE		90,901	0	0
Grand River Commerce, Inc.	Common	386441109	2,374	479,538	SH		SOLE		479,538	0	0
GrandSouth Bancorporation	Common	386627301	1,086	78,200	SH		SOLE		78,200	0	0
HBT Financial, Inc.	Common	404111106	8,882	791,614	SH		SOLE		791,614	0	0
Heritage Commerce Corp	Common	426927109	4,909	737,144	SH		SOLE		737,144	0	0
Howard Bancorp, Inc.	Common	442496105	162	18,037	SH		SOLE		18,037	0	0
Investar Holding Corporation	Common	46134L105	9,712	757,594	SH		SOLE		757,594	0	0
Kentucky Bancshares, Inc.	Common	491203105	1,939	120,424	SH		SOLE		120,424	0	0
Lakeland Bancorp, Inc.	Common	511637100	11,059	1,111,486	SH		SOLE		1,111,486	0	0
Ledyard Financial Group, Inc.	Common	523338101	466	28,249	SH		SOLE		28,249	0	0
Level One Bancorp, Inc.	Common	52730D208	6,489	415,959	SH		SOLE		415,959	0	0
Lewis & Clark Bancorp	Common	52757L109	1,179	59,388	SH		SOLE		59,388	0	0
Limestone Bancorp, Inc.	Common	53262L105	3,670	348,846	SH		SOLE		348,846	0	0
MainStreet Bancshares, Inc.	Common	56064Y100	8,431	688,832	SH		SOLE		688,832	0	0
Malvern Bancorp, Inc.	Common	561409103	8,245	698,699	SH		SOLE		698,699	0	0
McHenry Bancorp, Inc.	Common	580683100	1,275	15,000,000	SH		SOLE		15,000,000	0	0
Mercantile Bank Corporation	Common	587376104	8,730	484,484	SH		SOLE		484,484	0	0
Merchants Bancorp	Common	58844R108	5,300	268,915	SH		SOLE		268,915	0	0
Merchants Financial Group, Inc.	Common	588538108	7,021	130,013	SH		SOLE		130,013	0	0
Meridian Bank	Common	58958P104	8,763	543,284	SH		SOLE		543,284	0	0
Meridian Interstate Bancorp	Common	58958U103	2,407	232,570	SH		SOLE		232,570	0	0
Metro Phoenix Bank	Common	59165E106	2,087	212,767	SH		SOLE		212,767	0	0
Metropolitan Bank Holding Corp.	Common	591774104	4,513	161,161	SH		SOLE		161,161	0	0
Mid Penn Bank	Common	59540G107	1,302	75,222	SH		SOLE		75,222	0	0
Middlefield Banc Corp.	Common	596304204	999	51,748	SH		SOLE		51,748	0	0
MidWestOne Financial Group, Inc.	Common	598511103	654	36,600	SH		SOLE		36,600	0	0
Mission Valley Bancorp	Common	60520E104	2,361	308,252	SH		SOLE		308,252	0	0
Mountain Commerce Bancorp	Common	624004107	4,736	307,553	SH		SOLE		307,553	0	0
MVB Financial Corp.	Common	553810102	1,152	72,145	SH		SOLE		72,145	0	0
Northway Financial, Inc.	Common	667270201	3,900	179,294	SH		SOLE		179,294	0	0
NorthWest Indiana Bancorp	Common	667516108	2,839	91,584	SH		SOLE		91,584	0	0
Oak Ridge Financial Services, Inc.	Common	671768109	2,563	231,341	SH		SOLE		231,341	0	0
Oak Valley Bancorp	Common	671807105	2,859	249,464	SH		SOLE		249,464	0	0
Old Second Bancorp, Inc.	Common	680277100	10,724	1,429,900	SH		SOLE		1,429,900	0	0
Orange County Bancorp	Common	68417L107	3,619	152,383	SH		SOLE		152,383	0	0
Oregon Pacific Bancorp	Common	686040205	2,643	677,586	SH		SOLE		677,586	0	0
Origin Bancorp Inc.	Common	68621T102	6,824	319,453	SH		SOLE		319,453	0	0
Pacific Financial Corporation	Common	694275108	5,256	687,096	SH		SOLE		687,096	0	0
Pacific Mercantile Bancorp	Common	694552100	4,001	1,075,521	SH		SOLE		1,075,521	0	0
Pacific West Bank	Common	69506W202	1,857	185,715	SH		SOLE		185,715	0	0
Peapack-Gladstone Financial Corporation	Common	704699107	13,671	902,391	SH		SOLE		902,391	0	0
Peoples Bancorp	Common	70979X107	2,520	14,737	SH		SOLE		14,737	0	0
People's Bank of Commerce	Common	710311101	93	8,848	SH		SOLE		8,848	0	0
Pilot Bancshares, Inc.	Common	721530103	2,302	846,429	SH		SOLE		846,429	0	0
Pinnacle Bancshares, Inc.	Common	722903101	1,055	36,367	SH		SOLE		36,367	0	0
Pinnacle Bank	Common	72346K107	2,766	395,179	SH		SOLE		395,179	0	0
Pinnacle Bankshares Corporation	Common	72345E102	1,675	87,030	SH		SOLE		87,030	0	0
Pioneer Bancshares, Inc	Common	72357G102	1,586	97,000	SH		SOLE		97,000	0	0
Potomac Bancshares, Inc.	Common	737643106	557	57,405	SH		SOLE		57,405	0	0
Prime Meridian Holding Company	Common	74164R107	1,844	131,717	SH		SOLE		131,717	0	0
Private Bancorp of America, Inc.	Common	74274F100	7,167	540,909	SH		SOLE		540,909	0	0
Professional Holding Corp.	Common	743139107	2,012	150,000	SH		SOLE		150,000	0	0
Provident Financial Services, Inc.	Common	74386T105	12,899	1,057,271	SH		SOLE		1,057,271	0	0
PSB Holdings, Inc.	Common	69360N108	3,348	185,975	SH		SOLE		185,975	0	0
QNB Corp.	Common	74726N107	3,688	134,364	SH		SOLE		134,364	0	0
Red River Bancshares, Inc.	Common	75686R202	1,433	33,334	SH		SOLE		33,334	0	0
Reliant Bancorp, Inc.	Common	75956B101	7,287	502,561	SH		SOLE		502,561	0	0
Republic First Bancorp, Inc.	Common	760416107	4,248	2,145,576	SH		SOLE		2,145,576	0	0
River City Bank	Common	76803X106	3,387	22,181	SH		SOLE		22,181	0	0
Riverview Bancorp, Inc.	Common	769397100	607	146,288	SH		SOLE		146,288	0	0
Riverview Financial Corporation	Common	76940Q105	3,825	565,848	SH		SOLE		565,848	0	0
Sandy Spring Bancorp Inc.	Common	800363103	13,485	584,259	SH		SOLE		584,259	0	0
Santa Cruz County Bank	Common	801827106	3,630	99,718	SH		SOLE		99,718	0	0
Seacoast Banking Corporation of Florida	Common	811707801	2,687	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	6,247	568,916	SH		SOLE		568,916	0	0
Sierra Bancorp	Common	82620P102	2,901	172,783	SH		SOLE		172,783	0	0
Silvercrest Asset Management Group Inc.	Common	828359109	5,417	517,858	SH		SOLE		517,858	0	0
SmartFinancial, Inc.	Common	83190L208	7,494	551,430	SH		SOLE		551,430	0	0
South Atlantic Bancshares, Inc.	Common	83636T104	3,550	423,608	SH		SOLE		423,608	0	0
South Plains Financial, Inc.	Common	83946P107	2,605	209,919	SH		SOLE		209,919	0	0
South State Corporation	Common	840441109	1,817	37,732	SH		SOLE		37,732	0	0
SouthCrest Financial Group, Inc.	Common	84129X107	1,683	267,161	SH		SOLE		267,161	0	0
Southern BancShares (N.C.), Inc.	Common	842243107	7,126	2,096	SH		SOLE		2,096	0	0
Southern California Bancorp	Common	84252A106	6,891	820,301	SH		SOLE		820,301	0	0
Southern First Bancshares, Inc.	Common	842873101	11,950	494,835	SH		SOLE		494,835	0	0
Southern National Bancorp of Virginia,Inc.	Common	843395104	12,352	1,422,994	SH		SOLE		1,422,994	0	0
Southern States Bancshares, Inc.	Common	843878109	3,134	232,143	SH		SOLE		232,143	0	0
SouthPoint Bancshares, Inc.	Common	844647107	1,813	104,826	SH		SOLE		104,826	0	0
Spirit of Texas Bancshares, Inc.	Common	84861D103	7,373	660,705	SH		SOLE		660,705	0	0
Sterling Bancorp, Inc.	Common	85917W102	1,706	566,637	SH		SOLE		566,637	0	0
Summit Bank	Common	86601L105	143	13,900	SH		SOLE		13,900	0	0
Summit State Bank	Common	866264203	2,039	182,901	SH		SOLE		182,901	0	0
Suncrest Bank	Common	86723G109	6,740	831,052	SH		SOLE		831,052	0	0
Surrey Bancorp	Common	86888W105	702	63,785	SH		SOLE		63,785	0	0
Synovus Financial Corp.	Common	87161C501	6,167	291,320	SH		SOLE		291,320	0	0
TGR Financial, Inc.	Common	87243P108	3,745	451,195	SH		SOLE		451,195	0	0
Town and Country Financial Corporation	Common	892039108	214	10,914	SH		SOLE		10,914	0	0
Tri City Bankshares Corporation	Common	895364107	1,337	89,223	SH		SOLE		89,223	0	0
TriState Capital Holdings, Inc.	Common	89678F100	8,882	670,843	SH		SOLE		670,843	0	0
Triumph Bancorp, Inc.	Common	89679E300	10,177	326,818	SH		SOLE		326,818	0	0
Two Rivers Financial Group, Inc.	Common	90206L106	1,956	79,828	SH		SOLE		79,828	0	0
United Bancorporation of Alabama, Inc.	Common	90944R100	780	40,000	SH		SOLE		40,000	0	0
United Bankshares	Common	909907107	2,534	118,018	SH		SOLE		118,018	0	0
United Community Banks, Inc.	Common	90984P303	1,062	62,700	SH		SOLE		62,700	0	0
Unity Bancorp, Inc.	Common	913290102	8,217	709,596	SH		SOLE		709,596	0	0
Univest Financial Corporation	Common	915271100	1,235	85,952	SH		SOLE		85,952	0	0
Veritex Holdings, Inc.	Common	923451108	7,143	419,412	SH		SOLE		419,412	0	0
Village Bank and Trust Financial Corp.	Common	92705T200	685	22,838	SH		SOLE		22,838	0	0
Virginia National Bankshares Corp.	Common	928031103	426	17,662	SH		SOLE		17,662	0	0
W.T.B. Financial Corporation	Common	929334209	11,114	39,694	SH		SOLE		39,694	0	0
WesBanco, Inc.	Common	950810101	682	31,934	SH		SOLE		31,934	0	0
West Suburban Bancorp, Inc.	Common	956152409	2,041	6,020	SH		SOLE		6,020	0	0
Westbury Bancorp, Inc.	Common	95727P106	3,555	178,631	SH		SOLE		178,631	0	0
White River Bancshares Company	Common	96445A108	1,932	40,625	SH		SOLE		40,625	0	0
York Traditions Bank	Common	987159100	3,287	240,599	SH		SOLE		240,599	0	0