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	6,444	484,503	SH		SOLE		484,503	0	0
1st Colonial Bancorp	Common	319716106	4,525	455,658	SH		SOLE		455,658	0	0
1st Constitution Bancorp	Common	31986N102	12,770	725,163	SH		SOLE		725,163	0	0
Alerus Financial Corporation	Common	01446U103	6,194	208,000	SH		SOLE		208,000	0	0
Allegiance Bancshares, Inc.	Common	01748H107	7,803	192,475	SH		SOLE		192,475	0	0
AMB Financial Corp.	Common	001984103	1,496	78,750	SH		SOLE		78,750	0	0
American Business Bank	Common	02475L105	24,949	623,735	SH		SOLE		623,735	0	0
American River Bankshares	Common	029326105	3,550	217,688	SH		SOLE		217,688	0	0
American Riviera Bank	Common	02932A106	4,105	221,877	SH		SOLE		221,877	0	0
Avidbank Holdings, Inc.	Common	05368J103	12,736	578,904	SH		SOLE		578,904	0	0
Bank of Botetourt	Common	063907208	1,159	42,005	SH		SOLE		42,005	0	0
Bank of Commerce Holdings	Common	06424J103	5,586	438,090	SH		SOLE		438,090	0	0
Bank of Fincastle	Common	062113105	2,741	892,972	SH		SOLE		892,972	0	0
Bank of Princeton	Common	064520109	7,844	274,061	SH		SOLE		274,061	0	0
Bank of the James Financial Group, Inc.	Common	470299108	3,045	215,934	SH		SOLE		215,934	0	0
Bankwell Financial Group, Inc.	Common	06654A103	8,106	300,793	SH		SOLE		300,793	0	0
Bay Community Bancorp	Common	072205107	5,782	826,007	SH		SOLE		826,007	0	0
BCB Bancorp, Inc.	Common	055298103	5,170	374,649	SH		SOLE		374,649	0	0
Beach Bancorp, Inc.	Common	07332T100	3,375	900,000	SH		SOLE		900,000	0	0
Blue Ridge Bankshares, Inc.	Common	095825105	13,412	611,312	SH		SOLE		611,312	0	0
Blueharbor bank	Common	095613105	332	26,790	SH		SOLE		26,790	0	0
Boston Private Financial Holdings, Inc.	Common	101119105	14,903	1,118,854	SH		SOLE		1,118,854	0	0
Bridgewater Bancshares, Inc.	Common	108621103	3,838	237,652	SH		SOLE		237,652	0	0
Business First Bancshares, Inc.	Common	12326C105	8,250	344,754	SH		SOLE		344,754	0	0
Byline Bancorp, Inc.	Common	124411109	21,960	1,038,301	SH		SOLE		1,038,301	0	0
California BanCorp	Common	13005U101	13,176	739,810	SH		SOLE		739,810	0	0
Cambridge Bancorp	Common	132152109	7,639	90,596	SH		SOLE		90,596	0	0
Capital Bancorp, Inc.	Common	139737100	1,335	69,222	SH		SOLE		69,222	0	0
CapStar Financial Holdings, Inc.	Common	14070T102	160	9,268	SH		SOLE		9,268	0	0
Cashmere Valley Bank	Common	14756K102	5,954	97,600	SH		SOLE		97,600	0	0
CBTX, Inc.	Common	12481V104	1,005	32,700	SH		SOLE		32,700	0	0
CCB Financial	Common	19046P209	1,565	59,672	SH		SOLE		59,672	0	0
Centric Financial Corporation	Common	15641J101	7,439	791,343	SH		SOLE		791,343	0	0
Century Financial Corporation	Common	15652L102	2,452	104,346	SH		SOLE		104,346	0	0
Chino Commercial Bancorp	Common	16957L102	2,066	149,733	SH		SOLE		149,733	0	0
Citizens Bancorp	Common	172950107	2,140	122,749	SH		SOLE		122,749	0	0
Citizens Community Bancorp, Inc.	Common	174903104	12,997	1,047,303	SH		SOLE		1,047,303	0	0
CNB Corporation	Common	12612R105	989	13,323	SH		SOLE		13,323	0	0
CNB Financial Corporation	Common	126128107	5,394	219,160	SH		SOLE		219,160	0	0
Coastal Carolina Bancshares, Inc.	Common	190435107	2,431	300,492	SH		SOLE		300,492	0	0
CoastalSouth Bancshares, Inc.	Common	19058X207	2,859	204,249	SH		SOLE		204,249	0	0
Codorus Valley Bancorp, Inc.	Common	192025104	11,785	640,167	SH		SOLE		640,167	0	0
Commencement Bancorp, Inc.	Common	20051D107	4,250	326,933	SH		SOLE		326,933	0	0
Community Bancorp of Santa Maria	Common	20344R103	1,959	164,048	SH		SOLE		164,048	0	0
Community Financial Corporation	Common	20368X101	4,752	138,732	SH		SOLE		138,732	0	0
Community First Bancorporation	Common	203916101	726	107,744	SH		SOLE		107,744	0	0
Community Heritage Financial Inc.	Common	20370L103	1,574	79,474	SH		SOLE		79,474	0	0
ConnectOne Bancorp, Inc.	Common	20786W107	15,735	620,727	SH		SOLE		620,727	0	0
County Bancorp, Inc.	Common	221907108	3,773	157,399	SH		SOLE		157,399	0	0
CrossFirst Bankshares, Inc.	Common	22766M109	20,965	1,520,289	SH		SOLE		1,520,289	0	0
Crystal Valley Financial	Common	22941P100	1,132	19,600	SH		SOLE		19,600	0	0
Dime Community Bancshares, Inc	Common	25432X102	8,577	284,562	SH		SOLE		284,562	0	0
Eagle Bancorp, Inc.	Common	268948106	9,848	185,087	SH		SOLE		185,087	0	0
Eagle Financial Services Inc.	Common	26951R104	1,491	46,620	SH		SOLE		46,620	0	0
ECN Capital Corporation	Common	26829L107	224	36,000	SH		SOLE		36,000	0	0
Enova International, Inc.	Common	29357K103	4,481	126,300	SH		SOLE		126,300	0	0
Enterprise Bancorp, Inc.	Common	293668109	11,787	362,464	SH		SOLE		362,464	0	0
Equity Bancshares, Inc.	Common	29460X109	6,964	254,172	SH		SOLE		254,172	0	0
ES Bancshares, Inc.	Common	296049109	1,681	361,445	SH		SOLE		361,445	0	0
Farmers & Merchants Bancorp	Common	307795104	1,378	1,771	SH		SOLE		1,771	0	0
Fauquier Bancshares, Inc.	Common	312059108	864	40,586	SH		SOLE		40,586	0	0
FB Financial Corp.	Common	30257X104	3,476	78,178	SH		SOLE		78,178	0	0
Fentura Financial, Inc.	Common	314645102	8,201	351,970	SH		SOLE		351,970	0	0
FineMark Holdings, Inc.	Common	31788B108	6,819	227,305	SH		SOLE		227,305	0	0
First Bancshares, Inc.	Common	318916103	10,990	300,201	SH		SOLE		300,201	0	0
First Bank	Common	31931U102	17,284	1,420,210	SH		SOLE		1,420,210	0	0
First Business Financial Services	Common	319390100	19,094	772,088	SH		SOLE		772,088	0	0
First Capital Bancshares, Inc.	Common	31941G101	1,756	240,600	SH		SOLE		240,600	0	0
First Choice Bancorp	Common	31948P104	14,204	584,269	SH		SOLE		584,269	0	0
First Citrus Bancorporation, Inc.	Common	31959T102	692	27,695	SH		SOLE		27,695	0	0
First Community Corporation	Common	319835104	6,283	314,944	SH		SOLE		314,944	0	0
First Farmers and Merchants Corporation	Common	320148109	406	12,500	SH		SOLE		12,500	0	0
First Foundation Inc.	Common	32026V104	25,636	1,092,748	SH		SOLE		1,092,748	0	0
First Home Bancorp, Inc.	Common	32050L105	2,618	89,062	SH		SOLE		89,062	0	0
First Internet Bancorp	Common	320557101	12,098	343,398	SH		SOLE		343,398	0	0
First National Corporation	Common	32106V107	233	13,385	SH		SOLE		13,385	0	0
First Northern Community Bancorp	Common	335925103	9,996	945,226	SH		SOLE		945,226	0	0
First Reliance Bancshares, Inc.	Common	33615Q100	8,179	826,166	SH		SOLE		826,166	0	0
First Southern Bank	Common	33650R104	1,452	196,250	SH		SOLE		196,250	0	0
First Virginia Community Bank	Common	36120Q101	3,197	184,606	SH		SOLE		184,606	0	0
First Western Financial, Inc.	Common	33751L105	16,359	654,107	SH		SOLE		654,107	0	0
Flushing Financial Corporation	Common	343873105	273	12,877	SH		SOLE		12,877	0	0
FNS Bancshares, Inc.	Common	30253F107	2,251	23,950	SH		SOLE		23,950	0	0
Foresight Financial Group, Inc.	Common	345526107	5,626	178,934	SH		SOLE		178,934	0	0
Franklin Financial Services Corp.	Common	353525108	3,505	112,419	SH		SOLE		112,419	0	0
Galaxy Digital	Common	G37092106	108	5,250	SH		SOLE		5,250	0	0
Grand River Commerce, Inc.	Common	386441109	3,950	509,738	SH		SOLE		509,738	0	0
GrandSouth Bancorporation	Common	386627301	2,051	100,767	SH		SOLE		100,767	0	0
HBT Financial, Inc.	Common	404111106	21,103	1,232,637	SH		SOLE		1,232,637	0	0
Heritage Commerce Corp	Common	426927109	17,534	1,434,882	SH		SOLE		1,434,882	0	0
Heritage Southeast Bancorporation, Inc.	Common	42727V105	21	1,401	SH		SOLE		1,401	0	0
Howard Bancorp, Inc.	Common	442496105	297	18,037	SH		SOLE		18,037	0	0
Investar Holding Corporation	Common	46134L105	14,983	729,119	SH		SOLE		729,119	0	0
Kentucky Bancshares, Inc.	Common	491203105	4,323	115,424	SH		SOLE		115,424	0	0
Lakeland Bancorp, Inc.	Common	511637100	19,011	1,090,726	SH		SOLE		1,090,726	0	0
Ledyard Financial Group, Inc.	Common	523338101	578	23,249	SH		SOLE		23,249	0	0
LendingClub Corp.	Common	52603a208	2,099	127,053	SH		SOLE		127,053	0	0
Level One Bancorp, Inc.	Common	52730D208	19,035	738,356	SH		SOLE		738,356	0	0
Lewis & Clark Bancorp	Common	52757L109	2,873	90,388	SH		SOLE		90,388	0	0
Limestone Bancorp, Inc.	Common	53262L105	6,811	429,712	SH		SOLE		429,712	0	0
Live Oak Bancshares	Common	53803X105	103	1,500	SH		SOLE		1,500	0	0
MainStreet Bancshares, Inc.	Common	56064Y100	15,346	739,199	SH		SOLE		739,199	0	0
Malvern Bancorp, Inc.	Common	561409103	12,172	653,699	SH		SOLE		653,699	0	0
McHenry Bancorp, Inc.	Common	580683100	1,275	15,000,000	SH		SOLE		15,000,000	0	0
Mercantile Bank Corporation	Common	587376104	18,115	557,908	SH		SOLE		557,908	0	0
Merchants Bancorp	Common	58844R108	8,655	206,378	SH		SOLE		206,378	0	0
Merchants Financial Group, Inc.	Common	588538108	9,318	133,013	SH		SOLE		133,013	0	0
Meridian Bank	Common	58958P104	12,512	481,219	SH		SOLE		481,219	0	0
Meridian Interstate Bancorp	Common	58958U103	4,284	232,570	SH		SOLE		232,570	0	0
Metro Phoenix Bank Inc.	Common	59165E106	2,809	212,767	SH		SOLE		212,767	0	0
Metropolitan Bank Holding Corp.	Common	591774104	8,116	161,161	SH		SOLE		161,161	0	0
Mid Penn Bank	Common	59540G107	3,168	118,172	SH		SOLE		118,172	0	0
Middlefield Banc Corp.	Common	596304204	1,051	50,159	SH		SOLE		50,159	0	0
MidWestOne Financial Group, Inc.	Common	598511103	1,134	36,600	SH		SOLE		36,600	0	0
Mission Valley Bancorp	Common	60520E104	3,685	304,542	SH		SOLE		304,542	0	0
Mountain Commerce Bancorp	Common	624004107	8,278	347,813	SH		SOLE		347,813	0	0
MVB Financial Corp.	Common	553810102	2,337	69,145	SH		SOLE		69,145	0	0
Northway Financial, Inc.	Common	667270201	5,210	178,117	SH		SOLE		178,117	0	0
NorthWest Indiana Bancorp	Common	667516108	3,911	91,584	SH		SOLE		91,584	0	0
Nuvei Corp	Common	67079A102	331	5,500	SH		SOLE		5,500	0	0
Oak Ridge Financial Services, Inc.	Common	671768109	3,667	231,341	SH		SOLE		231,341	0	0
Oak Valley Bancorp	Common	671807105	3,617	210,904	SH		SOLE		210,904	0	0
Old Second Bancorp, Inc.	Common	680277100	20,687	1,565,994	SH		SOLE		1,565,994	0	0
Orange County Bancorp	Common	68417L107	7,478	243,181	SH		SOLE		243,181	0	0
Oregon Pacific Bancorp	Common	686040205	4,276	677,586	SH		SOLE		677,586	0	0
Origin Bancorp Inc.	Common	68621T102	10,889	256,761	SH		SOLE		256,761	0	0
Pacific Financial Corporation	Common	694275108	8,399	646,096	SH		SOLE		646,096	0	0
Pacific Mercantile Bancorp	Common	694552100	12,571	1,412,512	SH		SOLE		1,412,512	0	0
Pacific West Bank	Common	69506W202	2,424	185,715	SH		SOLE		185,715	0	0
Peapack-Gladstone Financial Corporation	Common	704699107	29,018	939,691	SH		SOLE		939,691	0	0
Peoples Bancorp	Common	70979X107	2,638	14,737	SH		SOLE		14,737	0	0
Pilot Bancshares, Inc.	Common	721530103	3,386	846,429	SH		SOLE		846,429	0	0
Pinnacle Bancshares, Inc.	Common	722903101	1,095	36,367	SH		SOLE		36,367	0	0
Pinnacle Bank	Common	72346K107	4,540	375,179	SH		SOLE		375,179	0	0
Pinnacle Bankshares Corporation	Common	72345E102	2,560	99,386	SH		SOLE		99,386	0	0
Pioneer Bancshares, Inc	Common	72357G102	3,007	97,000	SH		SOLE		97,000	0	0
Potomac Bancshares, Inc.	Common	737643106	750	57,405	SH		SOLE		57,405	0	0
Prime Meridian Holding Company	Common	74164R107	2,941	147,043	SH		SOLE		147,043	0	0
Primis Financial Corporation	Common	74167B109	27,684	1,903,974	SH		SOLE		1,903,974	0	0
Private Bancorp of America, Inc.	Common	74274F100	12,982	540,909	SH		SOLE		540,909	0	0
Professional Holding Corp.	Common	743139107	2,756	150,000	SH		SOLE		150,000	0	0
Provident Bancorp, Inc.	Common	74383L105	275	19,086	SH		SOLE		19,086	0	0
Provident Financial Services, Inc.	Common	74386T105	11,930	535,468	SH		SOLE		535,468	0	0
PSB Holdings, Inc.	Common	69360N108	5,620	222,563	SH		SOLE		222,563	0	0
QNB Corp.	Common	74726N107	5,104	148,464	SH		SOLE		148,464	0	0
Red River Bancshares, Inc.	Common	75686R202	1,867	33,334	SH		SOLE		33,334	0	0
Reliant Bancorp, Inc.	Common	75956B101	14,267	496,761	SH		SOLE		496,761	0	0
Republic First Bancorp, Inc.	Common	760416107	7,990	2,119,376	SH		SOLE		2,119,376	0	0
River City Bank	Common	76803X106	5,821	24,667	SH		SOLE		24,667	0	0
Riverview Bancorp, Inc.	Common	769397100	1,097	158,288	SH		SOLE		158,288	0	0
Riverview Financial Corporation	Common	76940Q105	6,064	580,263	SH		SOLE		580,263	0	0
Sandy Spring Bancorp Inc.	Common	800363103	17,445	401,672	SH		SOLE		401,672	0	0
Santa Cruz County Bank	Common	801827106	16,235	312,204	SH		SOLE		312,204	0	0
Seacoast Banking Corporation of Florida	Common	811707801	4,296	118,542	SH		SOLE		118,542	0	0
Severn Bancorp, Inc.	Common	81811M100	2,753	227,500	SH		SOLE		227,500	0	0
Sevier County Bancshares, Inc.	Common	81817P206	3,343	217,675	SH		SOLE		217,675	0	0
Shore Bancshares, Inc.	Common	825107105	9,348	549,229	SH		SOLE		549,229	0	0
Sierra Bancorp	Common	82620P102	4,755	177,432	SH		SOLE		177,432	0	0
Signature Bank	Common	82669G104	588	2,600	SH		SOLE		2,600	0	0
Silvercrest Asset Management Group Inc.	Common	828359109	5,019	349,037	SH		SOLE		349,037	0	0
Silvergate Capital Corporation	Common	82837P408	810	5,700	SH		SOLE		5,700	0	0
SmartFinancial, Inc.	Common	83190L208	14,504	669,919	SH		SOLE		669,919	0	0
South Atlantic Bancshares, Inc.	Common	83636T104	5,232	423,608	SH		SOLE		423,608	0	0
South Plains Financial, Inc.	Common	83946P107	4,769	209,919	SH		SOLE		209,919	0	0
SouthCrest Financial Group, Inc.	Common	84129X107	3,173	302,161	SH		SOLE		302,161	0	0
Southern BancShares (N.C.), Inc.	Common	842243107	10,069	2,111	SH		SOLE		2,111	0	0
Southern California Bancorp	Common	84252A106	13,724	953,061	SH		SOLE		953,061	0	0
Southern First Bancshares, Inc.	Common	842873101	23,683	505,186	SH		SOLE		505,186	0	0
Southern States Bancshares, Inc.	Common	843878109	3,134	232,143	SH		SOLE		232,143	0	0
SouthPoint Bancshares, Inc.	Common	844647107	2,725	104,826	SH		SOLE		104,826	0	0
Spirit of Texas Bancshares, Inc.	Common	84861D103	14,740	660,705	SH		SOLE		660,705	0	0
Sterling Bancorp, Inc.	Common	85917W102	2,282	403,245	SH		SOLE		403,245	0	0
Summit Bank Group, Inc.	Common	86603R100	231	13,900	SH		SOLE		13,900	0	0
Summit State Bank	Common	866264203	2,678	164,063	SH		SOLE		164,063	0	0
Suncrest Bank	Common	86723G109	10,803	847,306	SH		SOLE		847,306	0	0
Surrey Bancorp	Common	86888W105	804	63,785	SH		SOLE		63,785	0	0
Synovus Financial Corp.	Common	87161C501	6,987	152,726	SH		SOLE		152,726	0	0
TGR Financial, Inc.	Common	87243P108	5,890	460,195	SH		SOLE		460,195	0	0
Town and Country Financial Corporation	Common	892039108	231	10,914	SH		SOLE		10,914	0	0
Tri City Bankshares Corporation	Common	895364107	2,551	133,223	SH		SOLE		133,223	0	0
TriState Capital Holdings, Inc.	Common	89678F100	13,345	578,721	SH		SOLE		578,721	0	0
Triumph Bancorp, Inc.	Common	89679E300	25,292	326,818	SH		SOLE		326,818	0	0
Two Rivers Financial Group, Inc.	Common	90206L106	3,187	90,379	SH		SOLE		90,379	0	0
United Bancorporation of Alabama, Inc.	Common	90944R100	3,225	111,200	SH		SOLE		111,200	0	0
United Bankshares	Common	909907107	2,315	60,018	SH		SOLE		60,018	0	0
Unity Bancorp, Inc.	Common	913290102	17,283	785,603	SH		SOLE		785,603	0	0
Univest Financial Corporation	Common	915271100	1,914	66,952	SH		SOLE		66,952	0	0
Veritex Holdings, Inc.	Common	923451108	3,740	114,306	SH		SOLE		114,306	0	0
Village Bank and Trust Financial Corp.	Common	92705T200	914	22,838	SH		SOLE		22,838	0	0
Virginia National Bankshares Corp.	Common	928031103	940	30,962	SH		SOLE		30,962	0	0
Voyager Digital	Common	92919V108	425	16,354	SH		SOLE		16,354	0	0
W.T.B. Financial Corporation	Common	929334209	15,343	39,853	SH		SOLE		39,853	0	0
WesBanco, Inc.	Common	950810101	1,152	31,934	SH		SOLE		31,934	0	0
West Suburban Bancorp, Inc.	Common	956152409	3,919	7,380	SH		SOLE		7,380	0	0
Westbury Bancorp, Inc.	Common	95727P106	5,251	182,631	SH		SOLE		182,631	0	0
White River Bancshares Company	Common	96445A108	3,060	44,025	SH		SOLE		44,025	0	0
York Traditions Bank	Common	987159100	4,860	240,599	SH		SOLE		240,599	0	0