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	6,573	469,503	SH		SOLE		469,503	0	0
1st Colonial Bancorp	Common	319716106	4,261	463,158	SH		SOLE		463,158	0	0
1st Constitution Bancorp	Common	31986N102	13,244	640,092	SH		SOLE		640,092	0	0
AMB Financial Corp.	Common	001984103	1,457	78,750	SH		SOLE		78,750	0	0
Alerus Financial Corporation	Common	01446U103	6,034	208,000	SH		SOLE		208,000	0	0
Allegiance Bancshares, Inc.	Common	01748H107	7,399	192,475	SH		SOLE		192,475	0	0
American Business Bank	Common	02475L105	27,711	656,660	SH		SOLE		656,660	0	0
American River Bankshares	Common	029326105	3,914	217,688	SH		SOLE		217,688	0	0
American Riviera Bank	Common	02932A106	5,236	272,500	SH		SOLE		272,500	0	0
Avidbank Holdings, Inc.	Common	05368J103	11,402	481,904	SH		SOLE		481,904	0	0
BCB Bancorp, Inc.	Common	055298103	4,837	359,649	SH		SOLE		359,649	0	0
BancorpSouth, Inc.	Common	05971J102	478	16,878	SH		SOLE		16,878	0	0
Bank of Botetourt	Common	063907208	1,407	42,005	SH		SOLE		42,005	0	0
Bank of Commerce Holdings	Common	06424J103	5,540	368,816	SH		SOLE		368,816	0	0
Bank of Fincastle	Common	062113105	2,902	892,972	SH		SOLE		892,972	0	0
Bank of Princeton	Common	064520109	3,819	133,211	SH		SOLE		133,211	0	0
Bank of the James Financial Group, Inc.	Common	470299108	3,733	233,341	SH		SOLE		233,341	0	0
Bankwell Financial Group, Inc.	Common	06654A103	7,204	260,623	SH		SOLE		260,623	0	0
Bay Community Bancorp	Common	072205107	6,377	834,706	SH		SOLE		834,706	0	0
BayFirst Financial Corp.	Common	32050L105	3,157	133,593	SH		SOLE		133,593	0	0
Beach Bancorp, Inc.	Common	07332T100	3,375	900,000	SH		SOLE		900,000	0	0
Blue Ridge Bankshares, Inc.	Common	095825105	18,765	1,071,081	SH		SOLE		1,071,081	0	0
Blueharbor Bank	Common	095613105	660	49,774	SH		SOLE		49,774	0	0
Boston Private Financial Holdings, Inc.	Common	101119105	16,503	1,118,854	SH		SOLE		1,118,854	0	0
Bridgewater Bancshares, Inc.	Common	108621103	3,354	207,652	SH		SOLE		207,652	0	0
Business First Bancshares, Inc.	Common	12326C105	7,432	323,850	SH		SOLE		323,850	0	0
Byline Bancorp, Inc.	Common	124411109	21,818	964,108	SH		SOLE		964,108	0	0
CBTX, Inc.	Common	12481V104	893	32,700	SH		SOLE		32,700	0	0
CCB Financial	Common	19046P209	1,704	59,672	SH		SOLE		59,672	0	0
CNB Corporation	Common	12612R105	1,177	14,348	SH		SOLE		14,348	0	0
CNB Financial Corporation	Common	126128107	5,458	239,160	SH		SOLE		239,160	0	0
California BanCorp	Common	13005U101	14,366	768,259	SH		SOLE		768,259	0	0
Cambridge Bancorp	Common	132152109	7,892	95,096	SH		SOLE		95,096	0	0
CapStar Financial Holdings, Inc.	Common	14070T102	292	14,268	SH		SOLE		14,268	0	0
Capital Bancorp, Inc.	Common	139737100	1,416	69,222	SH		SOLE		69,222	0	0
Cashmere Valley Bank	Common	14756K102	6,901	94,267	SH		SOLE		94,267	0	0
Centric Financial Corporation	Common	15641J101	7,908	811,073	SH		SOLE		811,073	0	0
Century Financial Corporation	Common	15652L102	2,609	104,346	SH		SOLE		104,346	0	0
Chino Commercial Bancorp	Common	16957L102	2,605	179,680	SH		SOLE		179,680	0	0
Citizens Bancorp	Common	172950107	1,959	111,634	SH		SOLE		111,634	0	0
Citizens Community Bancorp, Inc.	Common	174903104	14,327	1,047,303	SH		SOLE		1,047,303	0	0
Coastal Carolina Bancshares, Inc.	Common	190435107	2,635	297,742	SH		SOLE		297,742	0	0
CoastalSouth Bancshares, Inc.	Common	19058X207	3,472	204,249	SH		SOLE		204,249	0	0
Codorus Valley Bancorp, Inc.	Common	192025104	9,492	473,659	SH		SOLE		473,659	0	0
Commencement Bancorp, Inc.	Common	20051D107	4,456	322,933	SH		SOLE		322,933	0	0
Community Bancorp of Santa Maria	Common	20344R103	1,416	122,048	SH		SOLE		122,048	0	0
Community Financial Corporation	Common	20368X101	3,289	95,332	SH		SOLE		95,332	0	0
Community First Bancorporation	Common	203916101	842	113,744	SH		SOLE		113,744	0	0
Community Heritage Financial Inc.	Common	20370L103	2,068	90,874	SH		SOLE		90,874	0	0
ConnectOne Bancorp, Inc.	Common	20786W107	15,131	578,197	SH		SOLE		578,197	0	0
County Bancorp, Inc.	Common	221907108	5,345	157,399	SH		SOLE		157,399	0	0
CrossFirst Bankshares, Inc.	Common	22766M109	20,904	1,520,289	SH		SOLE		1,520,289	0	0
Crystal Valley Financial	Common	22941P100	1,267	20,600	SH		SOLE		20,600	0	0
Dime Community Bancshares, Inc	Common	25432X102	8,763	260,662	SH		SOLE		260,662	0	0
ECN Capital Corporation	Common	26829L107	400	53,300	SH		SOLE		53,300	0	0
ES Bancshares, Inc.	Common	296049109	1,789	361,445	SH		SOLE		361,445	0	0
Eagle Bancorp, Inc.	Common	268948106	6,326	112,810	SH		SOLE		112,810	0	0
Eagle Financial Services Inc.	Common	26951R104	1,590	46,620	SH		SOLE		46,620	0	0
Enova International, Inc.	Common	29357K103	5,016	146,614	SH		SOLE		146,614	0	0
Enterprise Bancorp, Inc.	Common	293668109	13,024	397,672	SH		SOLE		397,672	0	0
Equity Bancshares, Inc.	Common	29460X109	6,645	217,926	SH		SOLE		217,926	0	0
FB Financial Corp.	Common	30257X104	6,108	163,678	SH		SOLE		163,678	0	0
Farmers & Merchants Bancorp	Common	307795104	1,968	2,283	SH		SOLE		2,283	0	0
Fentura Financial, Inc.	Common	314645102	8,304	319,400	SH		SOLE		319,400	0	0
FineMark Holdings, Inc.	Common	31788B108	28,529	864,516	SH		SOLE		864,516	0	0
Finward Bancorp	Common	31812F109	3,213	71,791	SH		SOLE		71,791	0	0
First Bancshares, Inc.	Common	318916103	11,049	295,201	SH		SOLE		295,201	0	0
First Bank	Common	31931U102	17,864	1,319,334	SH		SOLE		1,319,334	0	0
First Business Financial Services	Common	319390100	18,176	671,447	SH		SOLE		671,447	0	0
First Capital Bancshares, Inc.	Common	31941G101	1,805	240,600	SH		SOLE		240,600	0	0
First Choice Bancorp	Common	31948P104	14,629	480,423	SH		SOLE		480,423	0	0
First Citrus Bancorporation, Inc.	Common	31959T102	897	28,945	SH		SOLE		28,945	0	0
First Community Corporation	Common	319835104	6,894	341,264	SH		SOLE		341,264	0	0
First Farmers and Merchants Corporation	Common	320148109	421	12,500	SH		SOLE		12,500	0	0
First Foundation Inc.	Common	32026V104	24,598	1,092,748	SH		SOLE		1,092,748	0	0
First Internet Bancorp	Common	320557101	10,822	349,319	SH		SOLE		349,319	0	0
First National Corporation	Common	32106V107	3,281	163,385	SH		SOLE		163,385	0	0
First Northern Community Bancorp	Common	335925103	10,761	956,489	SH		SOLE		956,489	0	0
First Reliance Bancshares, Inc.	Common	33615Q100	8,179	826,166	SH		SOLE		826,166	0	0
First Southern Bank	Common	33650R104	1,766	196,250	SH		SOLE		196,250	0	0
First Virginia Community Bank	Common	36120Q101	3,186	184,606	SH		SOLE		184,606	0	0
First Western Financial, Inc.	Common	33751L105	17,582	679,117	SH		SOLE		679,117	0	0
Five Star Bancorp	Common	33830T103	4,226	175,000	SH		SOLE		175,000	0	0
Flushing Financial Corporation	Common	343873105	53	2,459	SH		SOLE		2,459	0	0
Foresight Financial Group, Inc.	Common	345526107	5,920	187,934	SH		SOLE		187,934	0	0
Franklin Financial Services Corp.	Common	353525108	3,115	97,519	SH		SOLE		97,519	0	0
Galaxy Digital	Common	G37092106	2,478	131,386	SH		SOLE		131,386	0	0
Grand River Commerce, Inc.	Common	386441109	3,696	509,738	SH		SOLE		509,738	0	0
GrandSouth Bancorporation	Common	386627301	2,947	117,885	SH		SOLE		117,885	0	0
HBT Financial, Inc.	Common	404111106	21,460	1,232,637	SH		SOLE		1,232,637	0	0
Heritage Commerce Corp	Common	426927109	15,970	1,434,882	SH		SOLE		1,434,882	0	0
Heritage Southeast Bancorporation, Inc.	Common	42727V105	36	1,401	SH		SOLE		1,401	0	0
Howard Bancorp, Inc.	Common	442496105	291	18,037	SH		SOLE		18,037	0	0
Investar Holding Corporation	Common	46134L105	15,946	696,642	SH		SOLE		696,642	0	0
Lakeland Bancorp, Inc.	Common	511637100	14,090	806,050	SH		SOLE		806,050	0	0
Ledyard Financial Group, Inc.	Common	523338101	634	23,249	SH		SOLE		23,249	0	0
LendingClub Corp.	Common	52603a208	2,303	127,053	SH		SOLE		127,053	0	0
Level One Bancorp, Inc.	Common	52730D208	17,401	637,412	SH		SOLE		637,412	0	0
Lewis & Clark Bancorp	Common	52757L109	3,073	90,388	SH		SOLE		90,388	0	0
Limestone Bancorp, Inc.	Common	53262L105	7,407	445,154	SH		SOLE		445,154	0	0
Live Oak Bancshares	Common	53803X105	519	8,800	SH		SOLE		8,800	0	0
MPB BHC, Inc.	Common	55317L105	3,670	212,767	SH		SOLE		212,767	0	0
MVB Financial Corp.	Common	553810102	3,241	75,983	SH		SOLE		75,983	0	0
MainStreet Bancshares, Inc.	Common	56064Y100	16,652	737,470	SH		SOLE		737,470	0	0
Malvern Bancorp, Inc.	Common	561409103	12,135	657,699	SH		SOLE		657,699	0	0
McHenry Bancorp, Inc.	Common	580683100	1,275	15,000,000	SH		SOLE		15,000,000	0	0
Mercantile Bank Corporation	Common	587376104	16,554	548,157	SH		SOLE		548,157	0	0
Merchants Bancorp	Common	58844R108	8,098	206,378	SH		SOLE		206,378	0	0
Merchants Financial Group, Inc.	Common	588538108	8,012	110,513	SH		SOLE		110,513	0	0
Meridian Bank	Common	58958P104	12,515	476,767	SH		SOLE		476,767	0	0
Meridian Interstate Bancorp	Common	58958U103	3,879	189,570	SH		SOLE		189,570	0	0
Metropolitan Bank Holding Corp.	Common	591774104	9,217	153,061	SH		SOLE		153,061	0	0
Mid Penn Bank	Common	59540G107	5,714	208,172	SH		SOLE		208,172	0	0
Mission Valley Bancorp	Common	60520E104	3,796	264,542	SH		SOLE		264,542	0	0
Mountain Commerce Bancorp	Common	624004107	9,480	361,820	SH		SOLE		361,820	0	0
Northway Financial, Inc.	Common	667270201	6,021	192,992	SH		SOLE		192,992	0	0
Nuvei Corp	Common	67079A102	450	5,500	SH		SOLE		5,500	0	0
Oak Ridge Financial Services, Inc.	Common	671768109	3,858	226,680	SH		SOLE		226,680	0	0
Oak Valley Bancorp	Common	671807105	7,792	428,830	SH		SOLE		428,830	0	0
Old Second Bancorp, Inc.	Common	680277100	20,679	1,667,679	SH		SOLE		1,667,679	0	0
Orange County Bancorp	Common	68417L107	8,318	244,640	SH		SOLE		244,640	0	0
Oregon Pacific Bancorp	Common	686040205	4,648	677,586	SH		SOLE		677,586	0	0
Origin Bancorp Inc.	Common	68621T102	9,661	227,542	SH		SOLE		227,542	0	0
PSB Holdings, Inc.	Common	69360N108	6,317	240,663	SH		SOLE		240,663	0	0
Pacific Financial Corporation	Common	694275108	8,052	643,096	SH		SOLE		643,096	0	0
Pacific Mercantile Bancorp	Common	694552100	12,148	1,412,512	SH		SOLE		1,412,512	0	0
Pacific West Bank	Common	69506W202	2,879	185,715	SH		SOLE		185,715	0	0
Peapack-Gladstone Financial Corporation	Common	704699107	25,765	829,251	SH		SOLE		829,251	0	0
Peoples Bancorp	Common	70979X107	3,316	14,737	SH		SOLE		14,737	0	0
Pilot Bancshares, Inc.	Common	721530103	5,079	846,429	SH		SOLE		846,429	0	0
Pinnacle Bancshares, Inc.	Common	722903101	1,236	36,367	SH		SOLE		36,367	0	0
Pinnacle Bank	Common	72346K107	5,104	371,179	SH		SOLE		371,179	0	0
Pinnacle Bankshares Corporation	Common	72345E102	2,785	111,844	SH		SOLE		111,844	0	0
Pioneer Bancshares, Inc	Common	72357G102	3,309	97,000	SH		SOLE		97,000	0	0
Potomac Bancshares, Inc.	Common	737643106	910	57,405	SH		SOLE		57,405	0	0
Prime Meridian Holding Company	Common	74164R107	3,893	169,243	SH		SOLE		169,243	0	0
Primis Financial Corporation	Common	74167B109	21,569	1,413,443	SH		SOLE		1,413,443	0	0
Private Bancorp of America, Inc.	Common	74274F100	12,445	506,909	SH		SOLE		506,909	0	0
Professional Holding Corp.	Common	743139107	2,703	150,000	SH		SOLE		150,000	0	0
Provident Financial Services, Inc.	Common	74386T105	11,433	499,468	SH		SOLE		499,468	0	0
QNB Corp.	Common	74726N107	6,032	167,553	SH		SOLE		167,553	0	0
Red River Bancshares, Inc.	Common	75686R202	1,684	33,334	SH		SOLE		33,334	0	0
Reliant Bancorp, Inc.	Common	75956B101	13,775	496,761	SH		SOLE		496,761	0	0
Republic First Bancorp, Inc.	Common	760416107	8,416	2,109,276	SH		SOLE		2,109,276	0	0
River City Bank	Common	76803X106	6,596	24,867	SH		SOLE		24,867	0	0
Riverview Bancorp, Inc.	Common	769397100	1,122	158,288	SH		SOLE		158,288	0	0
Riverview Financial Corporation	Common	76940Q105	6,572	575,019	SH		SOLE		575,019	0	0
Salisbury Bancorp, Inc.	Common	795226109	2,201	43,336	SH		SOLE		43,336	0	0
Sandy Spring Bancorp Inc.	Common	800363103	11,017	249,650	SH		SOLE		249,650	0	0
Santa Cruz County Bank	Common	801827106	15,314	312,204	SH		SOLE		312,204	0	0
Seacoast Banking Corporation of Florida	Common	811707801	3,452	101,095	SH		SOLE		101,095	0	0
Severn Bancorp, Inc.	Common	81811M100	2,737	230,000	SH		SOLE		230,000	0	0
Sevier County Bancshares, Inc.	Common	81817P206	3,343	217,675	SH		SOLE		217,675	0	0
Shore Bancshares, Inc.	Common	825107105	8,251	492,583	SH		SOLE		492,583	0	0
Sierra Bancorp	Common	82620P102	5,025	197,427	SH		SOLE		197,427	0	0
Signature Bank	Common	82669G104	2,260	9,200	SH		SOLE		9,200	0	0
Silvercrest Asset Management Group Inc.	Common	828359109	5,250	349,037	SH		SOLE		349,037	0	0
Silvergate Capital Corporation	Common	82837P408	1,201	10,600	SH		SOLE		10,600	0	0
SmartFinancial, Inc.	Common	83190L208	16,085	669,919	SH		SOLE		669,919	0	0
South Atlantic Bancshares, Inc.	Common	83636T104	6,142	423,608	SH		SOLE		423,608	0	0
South Plains Financial, Inc.	Common	83946P107	4,855	209,919	SH		SOLE		209,919	0	0
SouthCrest Financial Group, Inc.	Common	84129X107	3,701	302,161	SH		SOLE		302,161	0	0
SouthCrest Financial Group, Inc. (arb)	Common	84129X107	2,625	214,268	SH		SOLE		214,268	0	0
SouthCrest Financial Group, Inc.	Common	84129X107	6,326	516,429	SH		SOLE		516,429	0	0
SouthPoint Bancshares, Inc.	Common	844647107	3,538	104,826	SH		SOLE		104,826	0	0
Southern BancShares (N.C.), Inc.	Common	842243107	13,078	2,515	SH		SOLE		2,515	0	0
Southern California Bancorp	Common	84252A106	10,648	734,351	SH		SOLE		734,351	0	0
Southern First Bancshares, Inc.	Common	842873101	24,413	477,186	SH		SOLE		477,186	0	0
Southern States Bancshares, Inc.	Common	843878109	4,643	232,143	SH		SOLE		232,143	0	0
Spirit of Texas Bancshares, Inc.	Common	84861D103	14,446	632,481	SH		SOLE		632,481	0	0
Sterling Bancorp, Inc.	Common	85917W102	1,835	403,245	SH		SOLE		403,245	0	0
Stock Yards Bancorp, Inc.	Common	861025104	2,139	42,038	SH		SOLE		42,038	0	0
Summit Bank Group, Inc.	Common	86603R100	267	17,375	SH		SOLE		17,375	0	0
Summit State Bank	Common	866264203	2,908	187,137	SH		SOLE		187,137	0	0
Suncrest Bank	Common	86723G109	10,480	722,771	SH		SOLE		722,771	0	0
Surrey Bancorp	Common	86888W105	934	63,785	SH		SOLE		63,785	0	0
Synovus Financial Corp.	Common	87161C501	6,702	152,726	SH		SOLE		152,726	0	0
TGR Financial, Inc.	Common	87243P108	6,213	460,195	SH		SOLE		460,195	0	0
Town and Country Financial Corporation	Common	892039108	273	10,914	SH		SOLE		10,914	0	0
Traditions Bancorp, Inc.	Common	89269L102	5,048	230,499	SH		SOLE		230,499	0	0
Tri City Bankshares Corporation	Common	895364107	4,080	172,141	SH		SOLE		172,141	0	0
TriState Capital Holdings, Inc.	Common	89678F100	12,126	594,721	SH		SOLE		594,721	0	0
Triumph Bancorp, Inc.	Common	89679E300	24,266	326,818	SH		SOLE		326,818	0	0
Two Rivers Financial Group, Inc.	Common	90206L106	4,561	116,791	SH		SOLE		116,791	0	0
United Bancorporation of Alabama, Inc.	Common	90944R100	3,308	111,200	SH		SOLE		111,200	0	0
United Bankshares	Common	909907107	588	16,118	SH		SOLE		16,118	0	0
Unity Bancorp, Inc.	Common	913290102	18,601	843,603	SH		SOLE		843,603	0	0
Univest Financial Corporation	Common	915271100	1,766	66,952	SH		SOLE		66,952	0	0
Veritex Holdings, Inc.	Common	923451108	3,407	96,206	SH		SOLE		96,206	0	0
Village Bank and Trust Financial Corp.	Common	92705T200	1,186	22,838	SH		SOLE		22,838	0	0
Virginia National Bankshares Corp.	Common	928031103	2,075	53,357	SH		SOLE		53,357	0	0
Voyager Digital	Common	92919V108	3,164	185,365	SH		SOLE		185,365	0	0
W.T.B. Financial Corporation	Common	929334209	13,671	35,053	SH		SOLE		35,053	0	0
WesBanco, Inc.	Common	950810101	1,138	31,934	SH		SOLE		31,934	0	0
West Suburban Bancorp, Inc.	Common	956152409	5,786	7,380	SH		SOLE		7,380	0	0
Westbury Bancorp, Inc.	Common	95727P106	5,319	186,631	SH		SOLE		186,631	0	0
White River Bancshares Company	Common	96445A108	3,434	44,025	SH		SOLE		44,025	0	0