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	5,670	480,503	SH		SOLE		480,503	0	0
1st Colonial Bancorp	Common	319716106	3,753	483,658	SH		SOLE		483,658	0	0
1st Constitution Bancorp	Common	31986N102	10,366	653,169	SH		SOLE		653,169	0	0
Alerus Financial Corporation	Common	01446U103	5,693	208,000	SH		SOLE		208,000	0	0
Allegiance Bancshares, Inc.	Common	01748H107	6,569	192,475	SH		SOLE		192,475	0	0
AMB Financial Corp.	Common	001984103	1,260	78,750	SH		SOLE		78,750	0	0
American Business Bank	Common	02475L105	20,313	638,185	SH		SOLE		638,185	0	0
American River Bankshares	Common	029326105	2,863	217,688	SH		SOLE		217,688	0	0
American Riviera Bank	Common	02932A106	4,032	244,377	SH		SOLE		244,377	0	0
Avidbank Holdings, Inc.	Common	05368J103	10,078	575,904	SH		SOLE		575,904	0	0
Bank of Botetourt	Common	063907208	1,027	42,005	SH		SOLE		42,005	0	0
Bank of Commerce Holdings	Common	06424J103	3,988	402,859	SH		SOLE		402,859	0	0
Bank of Fincastle	Common	062113105	2,018	892,972	SH		SOLE		892,972	0	0
Bank of Princeton	Common	064520109	6,597	281,821	SH		SOLE		281,821	0	0
Bank of the James Financial Group, Inc.	Common	470299108	2,617	215,934	SH		SOLE		215,934	0	0
Bankwell Financial Group, Inc.	Common	06654A103	5,028	257,193	SH		SOLE		257,193	0	0
Bay Banks of Virginia, Inc.	Common	072035108	6,097	688,884	SH		SOLE		688,884	0	0
Bay Community Bancorp	Common	072205107	4,832	826,007	SH		SOLE		826,007	0	0
BCB Bancorp, Inc.	Common	055298103	3,428	309,634	SH		SOLE		309,634	0	0
Beach Bancorp, Inc.	Common	07332T100	3,375	900,000	SH		SOLE		900,000	0	0
Blue Ridge Bankshares, Inc.	Common	095825105	4,007	225,000	SH		SOLE		225,000	0	0
Blueharbor bank	Common	095613105	136	13,300	SH		SOLE		13,300	0	0
Boston Private Financial Holdings, Inc.	Common	101119105	17,757	2,101,454	SH		SOLE		2,101,454	0	0
Bridge Bancorp Inc.	Common	108035106	3,660	151,370	SH		SOLE		151,370	0	0
Bridgewater Bancshares, Inc.	Common	108621103	2,968	237,652	SH		SOLE		237,652	0	0
Business First Bancshares, Inc.	Common	12326C105	9,428	463,055	SH		SOLE		463,055	0	0
Byline Bancorp, Inc.	Common	124411109	16,460	1,065,360	SH		SOLE		1,065,360	0	0
California BanCorp	Common	13005U101	11,049	710,113	SH		SOLE		710,113	0	0
Cambridge Bancorp	Common	132152109	6,319	90,596	SH		SOLE		90,596	0	0
Capital Bancorp, Inc.	Common	139737100	964	69,222	SH		SOLE		69,222	0	0
CapStar Financial Holdings, Inc.	Common	14070T102	137	9,268	SH		SOLE		9,268	0	0
Cashmere Valley Bank	Common	14756K102	4,456	84,706	SH		SOLE		84,706	0	0
CBTX, Inc.	Common	12481V104	834	32,700	SH		SOLE		32,700	0	0
CCB Financial	Common	19046P209	1,253	59,672	SH		SOLE		59,672	0	0
Centric Financial Corporation	Common	15641J101	6,876	801,343	SH		SOLE		801,343	0	0
Century Financial Corporation	Common	15652L102	2,395	104,346	SH		SOLE		104,346	0	0
Chino Commercial Bancorp	Common	16957L102	1,714	149,733	SH		SOLE		149,733	0	0
Citizens Bancorp	Common	172950107	1,903	122,749	SH		SOLE		122,749	0	0
Citizens Community Bancorp, Inc.	Common	174903104	11,343	1,041,618	SH		SOLE		1,041,618	0	0
CNB Corporation	Common	12612R105	929	12,551	SH		SOLE		12,551	0	0
CNB Financial Corporation	Common	126128107	4,155	195,160	SH		SOLE		195,160	0	0
Coastal Carolina Bancshares, Inc.	Common	190435107	2,141	285,461	SH		SOLE		285,461	0	0
CoastalSouth Bancshares, Inc.	Common	19058X207	2,471	204,249	SH		SOLE		204,249	0	0
Codorus Valley Bancorp, Inc.	Common	192025104	11,112	655,167	SH		SOLE		655,167	0	0
Commencement Bancorp, Inc.	Common	20051D107	3,791	333,733	SH		SOLE		333,733	0	0
Community Bancorp of Santa Maria	Common	20344R103	1,667	164,048	SH		SOLE		164,048	0	0
Community Financial Corporation	Common	20368X101	4,092	154,532	SH		SOLE		154,532	0	0
Community First Bancorporation	Common	203916101	548	91,744	SH		SOLE		91,744	0	0
Community Heritage Financial Inc.	Common	20370L103	1,490	79,474	SH		SOLE		79,474	0	0
ConnectOne Bancorp, Inc.	Common	20786W107	13,820	698,327	SH		SOLE		698,327	0	0
County Bancorp, Inc.	Common	221907108	3,659	165,715	SH		SOLE		165,715	0	0
CrossFirst Bankshares, Inc.	Common	22766M109	15,806	1,470,289	SH		SOLE		1,470,289	0	0
Crystal Valley Financial	Common	22941P100	680	13,000	SH		SOLE		13,000	0	0
Dime Community Bancshares, Inc	Common	253922108	4,699	297,976	SH		SOLE		297,976	0	0
Eagle Bancorp, Inc.	Common	268948106	7,644	185,087	SH		SOLE		185,087	0	0
Eagle Financial Services Inc.	Common	26951R104	1,258	42,633	SH		SOLE		42,633	0	0
Enterprise Bancorp, Inc.	Common	293668109	8,047	314,955	SH		SOLE		314,955	0	0
Equity Bancshares, Inc.	Common	29460X109	5,639	261,172	SH		SOLE		261,172	0	0
ES Bancshares, Inc.	Common	296049109	1,572	361,445	SH		SOLE		361,445	0	0
Farmers & Merchants Bancorp	Common	307795104	929	1,222	SH		SOLE		1,222	0	0
Fauquier Bancshares, Inc.	Common	312059108	897	51,615	SH		SOLE		51,615	0	0
FB Financial Corp.	Common	30257X104	3,792	109,178	SH		SOLE		109,178	0	0
Fentura Financial, Inc.	Common	314645102	7,424	337,470	SH		SOLE		337,470	0	0
FineMark Holdings, Inc.	Common	31788B108	4,994	213,330	SH		SOLE		213,330	0	0
First Bancshares, Inc.	Common	318916103	9,270	300,201	SH		SOLE		300,201	0	0
First Bank	Common	31931U102	13,372	1,425,564	SH		SOLE		1,425,564	0	0
First Business Financial Services	Common	319390100	14,224	772,628	SH		SOLE		772,628	0	0
First Capital Bancshares, Inc.	Common	31941G101	1,564	240,600	SH		SOLE		240,600	0	0
First Choice Bancorp	Common	31948P104	12,035	650,905	SH		SOLE		650,905	0	0
First Citrus Bancorporation, Inc.	Common	31959T102	630	27,695	SH		SOLE		27,695	0	0
First Community Corporation	Common	319835104	4,167	245,290	SH		SOLE		245,290	0	0
First Farmers and Merchants Corporation	Common	320148109	400	12,500	SH		SOLE		12,500	0	0
First Foundation Inc.	Common	32026V104	21,945	1,097,260	SH		SOLE		1,097,260	0	0
First Home Bancorp, Inc.	Common	32050L105	1,848	89,062	SH		SOLE		89,062	0	0
First Horizon National Corporation	Common	320517105	2,086	163,505	SH		SOLE		163,505	0	0
First Internet Bancorp	Common	320557101	10,152	353,247	SH		SOLE		353,247	0	0
First National Corporation	Common	32106V107	226	13,385	SH		SOLE		13,385	0	0
First Northern Community Bancorp	Common	335925103	8,991	890,217	SH		SOLE		890,217	0	0
First Reliance Bancshares, Inc.	Common	33615Q100	3,397	438,266	SH		SOLE		438,266	0	0
First Southern Bank	Common	33650R104	1,452	196,250	SH		SOLE		196,250	0	0
First Virginia Community Bank	Common	36120Q101	2,714	184,606	SH		SOLE		184,606	0	0
First Western Financial, Inc.	Common	33751L105	12,732	650,607	SH		SOLE		650,607	0	0
Flushing Financial Corporation	Common	343873105	214	12,877	SH		SOLE		12,877	0	0
FNS Bancshares, Inc.	Common	30253F107	1,748	23,950	SH		SOLE		23,950	0	0
Foresight Financial Group, Inc.	Common	345526107	4,147	138,798	SH		SOLE		138,798	0	0
Franklin Financial Services Corp.	Common	353525108	2,762	102,179	SH		SOLE		102,179	0	0
Grand River Commerce, Inc.	Common	386441109	2,477	490,538	SH		SOLE		490,538	0	0
GrandSouth Bancorporation	Common	386627301	1,175	77,267	SH		SOLE		77,267	0	0
HBT Financial, Inc.	Common	404111106	13,756	908,014	SH		SOLE		908,014	0	0
Heritage Commerce Corp	Common	426927109	8,152	919,030	SH		SOLE		919,030	0	0
Howard Bancorp, Inc.	Common	442496105	213	18,037	SH		SOLE		18,037	0	0
Investar Holding Corporation	Common	46134L105	12,531	757,594	SH		SOLE		757,594	0	0
Kentucky Bancshares, Inc.	Common	491203105	2,389	115,424	SH		SOLE		115,424	0	0
Lakeland Bancorp, Inc.	Common	511637100	14,352	1,130,086	SH		SOLE		1,130,086	0	0
Ledyard Financial Group, Inc.	Common	523338101	441	23,249	SH		SOLE		23,249	0	0
Level One Bancorp, Inc.	Common	52730D208	13,606	672,563	SH		SOLE		672,563	0	0
Lewis & Clark Bancorp	Common	52757L109	1,559	59,388	SH		SOLE		59,388	0	0
Limestone Bancorp, Inc.	Common	53262L105	4,603	366,452	SH		SOLE		366,452	0	0
MainStreet Bancshares, Inc.	Common	56064Y100	12,416	734,266	SH		SOLE		734,266	0	0
Malvern Bancorp, Inc.	Common	561409103	10,830	698,699	SH		SOLE		698,699	0	0
McHenry Bancorp, Inc.	Common	580683100	1,065	15,000,000	SH		SOLE		15,000,000	0	0
Mercantile Bank Corporation	Common	587376104	15,051	553,971	SH		SOLE		553,971	0	0
Merchants Bancorp	Common	58844R108	5,733	207,478	SH		SOLE		207,478	0	0
Merchants Financial Group, Inc.	Common	588538108	8,353	130,013	SH		SOLE		130,013	0	0
Meridian Bank	Common	58958P104	10,715	515,155	SH		SOLE		515,155	0	0
Meridian Interstate Bancorp	Common	58958U103	3,468	232,570	SH		SOLE		232,570	0	0
Metro Phoenix Bank	Common	59165E106	2,445	212,767	SH		SOLE		212,767	0	0
Metropolitan Bank Holding Corp.	Common	591774104	5,845	161,161	SH		SOLE		161,161	0	0
Mid Penn Bank	Common	59540G107	2,588	118,172	SH		SOLE		118,172	0	0
Middlefield Banc Corp.	Common	596304204	1,129	50,159	SH		SOLE		50,159	0	0
MidWestOne Financial Group, Inc.	Common	598511103	897	36,600	SH		SOLE		36,600	0	0
Mission Valley Bancorp	Common	60520E104	3,371	319,542	SH		SOLE		319,542	0	0
Mountain Commerce Bancorp	Common	624004107	7,130	347,813	SH		SOLE		347,813	0	0
MVB Financial Corp.	Common	553810102	1,636	72,145	SH		SOLE		72,145	0	0
Northway Financial, Inc.	Common	667270201	4,740	169,294	SH		SOLE		169,294	0	0
NorthWest Indiana Bancorp	Common	667516108	3,306	91,584	SH		SOLE		91,584	0	0
Oak Ridge Financial Services, Inc.	Common	671768109	3,077	231,341	SH		SOLE		231,341	0	0
Oak Valley Bancorp	Common	671807105	3,961	238,339	SH		SOLE		238,339	0	0
Old Second Bancorp, Inc.	Common	680277100	15,665	1,550,994	SH		SOLE		1,550,994	0	0
Orange County Bancorp	Common	68417L107	5,569	204,371	SH		SOLE		204,371	0	0
Oregon Pacific Bancorp	Common	686040205	3,523	677,586	SH		SOLE		677,586	0	0
Origin Bancorp Inc.	Common	68621T102	8,037	289,426	SH		SOLE		289,426	0	0
Pacific Financial Corporation	Common	694275108	6,395	681,096	SH		SOLE		681,096	0	0
Pacific Mercantile Bancorp	Common	694552100	7,235	1,407,512	SH		SOLE		1,407,512	0	0
Pacific West Bank	Common	69506W202	2,028	185,715	SH		SOLE		185,715	0	0
Peapack-Gladstone Financial Corporation	Common	704699107	23,087	1,014,374	SH		SOLE		1,014,374	0	0
Peoples Bancorp	Common	70979X107	2,340	14,737	SH		SOLE		14,737	0	0
Pilot Bancshares, Inc.	Common	721530103	2,726	846,429	SH		SOLE		846,429	0	0
Pinnacle Bancshares, Inc.	Common	722903101	1,067	36,367	SH		SOLE		36,367	0	0
Pinnacle Bank	Common	72346K107	3,406	395,179	SH		SOLE		395,179	0	0
Pinnacle Bankshares Corporation	Common	72345E102	2,286	99,386	SH		SOLE		99,386	0	0
Pioneer Bancshares, Inc	Common	72357G102	2,352	97,000	SH		SOLE		97,000	0	0
Potomac Bancshares, Inc.	Common	737643106	707	57,405	SH		SOLE		57,405	0	0
Prime Meridian Holding Company	Common	74164R107	2,647	147,043	SH		SOLE		147,043	0	0
Private Bancorp of America, Inc.	Common	74274F100	10,007	540,909	SH		SOLE		540,909	0	0
Professional Holding Corp.	Common	743139107	2,315	150,000	SH		SOLE		150,000	0	0
Provident Financial Services, Inc.	Common	74386T105	17,911	997,271	SH		SOLE		997,271	0	0
PSB Holdings, Inc.	Common	69360N108	4,192	203,795	SH		SOLE		203,795	0	0
QNB Corp.	Common	74726N107	4,374	136,464	SH		SOLE		136,464	0	0
Red River Bancshares, Inc.	Common	75686R202	1,652	33,334	SH		SOLE		33,334	0	0
Reliant Bancorp, Inc.	Common	75956B101	9,529	511,761	SH		SOLE		511,761	0	0
Republic First Bancorp, Inc.	Common	760416107	6,115	2,145,576	SH		SOLE		2,145,576	0	0
River City Bank	Common	76803X106	3,969	24,347	SH		SOLE		24,347	0	0
Riverview Bancorp, Inc.	Common	769397100	833	158,288	SH		SOLE		158,288	0	0
Riverview Financial Corporation	Common	76940Q105	5,383	588,263	SH		SOLE		588,263	0	0
Sandy Spring Bancorp Inc.	Common	800363103	15,585	484,172	SH		SOLE		484,172	0	0
Santa Cruz County Bank	Common	801827106	7,493	184,971	SH		SOLE		184,971	0	0
Seacoast Banking Corporation of Florida	Common	811707801	4,095	139,042	SH		SOLE		139,042	0	0
Sevier County Bancshares, Inc.	Common	81817P206	3,343	217,675	SH		SOLE		217,675	0	0
Shore Bancshares, Inc.	Common	825107105	8,306	568,916	SH		SOLE		568,916	0	0
Sierra Bancorp	Common	82620P102	4,677	195,532	SH		SOLE		195,532	0	0
Silvercrest Asset Management Group Inc.	Common	828359109	6,792	488,984	SH		SOLE		488,984	0	0
SmartFinancial, Inc.	Common	83190L208	10,003	551,430	SH		SOLE		551,430	0	0
South Atlantic Bancshares, Inc.	Common	83636T104	5,189	423,608	SH		SOLE		423,608	0	0
South Plains Financial, Inc.	Common	83946P107	3,978	209,919	SH		SOLE		209,919	0	0
South State Corporation	Common	840441109	434	6,002	SH		SOLE		6,002	0	0
SouthCrest Financial Group, Inc.	Common	84129X107	2,493	302,161	SH		SOLE		302,161	0	0
Southern BancShares (N.C.), Inc.	Common	842243107	8,232	2,111	SH		SOLE		2,111	0	0
Southern California Bancorp	Common	84252A106	12,891	1,011,061	SH		SOLE		1,011,061	0	0
Southern First Bancshares, Inc.	Common	842873101	18,389	520,186	SH		SOLE		520,186	0	0
Southern National Bancorp of Virginia,Inc.	Common	843395104	23,231	1,918,357	SH		SOLE		1,918,357	0	0
Southern States Bancshares, Inc.	Common	843878109	3,134	232,143	SH		SOLE		232,143	0	0
SouthPoint Bancshares, Inc.	Common	844647107	2,238	104,826	SH		SOLE		104,826	0	0
Spirit of Texas Bancshares, Inc.	Common	84861D103	11,100	660,705	SH		SOLE		660,705	0	0
Sterling Bancorp, Inc.	Common	85917W102	2,016	444,002	SH		SOLE		444,002	0	0
Summit Bank Group, Inc.	Common	86601L105	164	13,900	SH		SOLE		13,900	0	0
Summit State Bank	Common	866264203	2,212	164,063	SH		SOLE		164,063	0	0
Suncrest Bank	Common	86723G109	8,707	848,640	SH		SOLE		848,640	0	0
Surrey Bancorp	Common	86888W105	741	63,785	SH		SOLE		63,785	0	0
Synovus Financial Corp.	Common	87161C501	9,430	291,320	SH		SOLE		291,320	0	0
TGR Financial, Inc.	Common	87243P108	4,429	445,195	SH		SOLE		445,195	0	0
Town and Country Financial Corporation	Common	892039108	224	10,914	SH		SOLE		10,914	0	0
Tri City Bankshares Corporation	Common	895364107	2,174	124,223	SH		SOLE		124,223	0	0
TriState Capital Holdings, Inc.	Common	89678F100	10,244	588,721	SH		SOLE		588,721	0	0
Triumph Bancorp, Inc.	Common	89679E300	15,867	326,818	SH		SOLE		326,818	0	0
Two Rivers Financial Group, Inc.	Common	90206L106	2,199	79,828	SH		SOLE		79,828	0	0
United Bancorporation of Alabama, Inc.	Common	90944R100	2,474	111,200	SH		SOLE		111,200	0	0
United Bankshares	Common	909907107	1,945	60,018	SH		SOLE		60,018	0	0
United Community Banks, Inc.	Common	90984P303	646	22,700	SH		SOLE		22,700	0	0
Unity Bancorp, Inc.	Common	913290102	12,213	695,915	SH		SOLE		695,915	0	0
Univest Financial Corporation	Common	915271100	1,769	85,952	SH		SOLE		85,952	0	0
Veritex Holdings, Inc.	Common	923451108	2,933	114,306	SH		SOLE		114,306	0	0
Village Bank and Trust Financial Corp.	Common	92705T200	785	22,838	SH		SOLE		22,838	0	0
Virginia National Bankshares Corp.	Common	928031103	841	30,962	SH		SOLE		30,962	0	0
W.T.B. Financial Corporation	Common	929334209	13,813	41,357	SH		SOLE		41,357	0	0
WesBanco, Inc.	Common	950810101	957	31,934	SH		SOLE		31,934	0	0
West Suburban Bancorp, Inc.	Common	956152409	2,679	6,020	SH		SOLE		6,020	0	0
Westbury Bancorp, Inc.	Common	95727P106	4,289	178,631	SH		SOLE		178,631	0	0
White River Bancshares Company	Common	96445A108	2,714	44,025	SH		SOLE		44,025	0	0
York Traditions Bank	Common	987159100	4,271	240,599	SH		SOLE		240,599	0	0