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

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

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
AMB Financial Corp.	Common	001984103	238	10,762	SH		SOLE		10,762	0	0
Alpine Banks of Colorado	Common	020810107	14,170	465,353	SH		SOLE		465,353	0	0
American National Bankshares Inc.	Common	027745108	1,190	37,549	SH		SOLE		37,549	0	0
BCB Bancorp, Inc.	Common	055298103	1,004	76,496	SH		SOLE		76,496	0	0
Bank of Botetourt	Common	063907208	1,545	49,824	SH		SOLE		49,824	0	0
Bay Community Bancorp	Common	072205107	5,277	636,516	SH		SOLE		636,516	0	0
Blueharbor Bank	Common	095613105	2,740	161,283	SH		SOLE		161,283	0	0
Blue Ridge Bankshares, Inc.	Common	095825105	11,500	1,127,414	SH		SOLE		1,127,414	0	0
Bridgewater Bancshares, Inc.	Common	108621103	683	63,009	SH		SOLE		63,009	0	0
Byline Bancorp, Inc.	Common	124411109	10,389	480,544	SH		SOLE		480,544	0	0
CNB Financial Corporation	Common	126128107	9,546	497,188	SH		SOLE		497,188	0	0
Cambridge Bancorp	Common	132152109	5,737	88,528	SH		SOLE		88,528	0	0
Capital Bancorp, Inc.	Common	139737100	618	37,122	SH		SOLE		37,122	0	0
Citizens Community Bancorp, Inc.	Common	174903104	9,308	877,327	SH		SOLE		877,327	0	0
Coastal Carolina Bancshares, Inc.	Common	190435107	2,967	296,992	SH		SOLE		296,992	0	0
Codorus Valley Bancorp, Inc.	Common	192025104	2,349	113,186	SH		SOLE		113,186	0	0
Community First Bancorporation	Common	203916101	722	113,744	SH		SOLE		113,744	0	0
Enterprise Bancorp, Inc.	Common	293668109	7,280	231,408	SH		SOLE		231,408	0	0
ES Bancshares, Inc.	Common	296049109	1,620	410,045	SH		SOLE		410,045	0	0
Fentura Financial, Inc.	Common	314645102	7,419	348,149	SH		SOLE		348,149	0	0
First Bancshares, Inc.	Common	318916103	2,500	96,802	SH		SOLE		96,802	0	0
First Business Financial Services	Common	319390100	13,995	458,694	SH		SOLE		458,694	0	0
1st Capital Bancorp	Common	319427100	3,694	396,761	SH		SOLE		396,761	0	0
1st Colonial Bancorp	Common	319716106	3,234	253,644	SH		SOLE		253,644	0	0
First Commonwealth	Common	319829107	2,906	233,808	SH		SOLE		233,808	0	0
First Community Corporation	Common	319835104	5,575	278,730	SH		SOLE		278,730	0	0
First Farmers and Merchants Corporation	Common	320148109	876	41,497	SH		SOLE		41,497	0	0
First Internet Bancorp	Common	320557101	6,488	389,667	SH		SOLE		389,667	0	0
First Northern Community Bancorp	Common	335925103	6,349	859,651	SH		SOLE		859,651	0	0
Foresight Financial Group, Inc.	Common	345526107	3,840	142,598	SH		SOLE		142,598	0	0
Franklin Financial Services Corp.	Common	353525108	2,116	71,396	SH		SOLE		71,396	0	0
Grand River Commerce, Inc.	Common	386441109	3,645	675,014	SH		SOLE		675,014	0	0
HBT Financial, Inc.	Common	404111106	15,736	797,974	SH		SOLE		797,974	0	0
Hanover Bancorp Inc.	Common	410710206	4,075	226,407	SH		SOLE		226,407	0	0
Heritage Commerce Corp	Common	426927109	4,282	514,083	SH		SOLE		514,083	0	0
Bank of the James Financial Group, Inc.	Common	470299108	1,530	145,553	SH		SOLE		145,553	0	0
Lakeland Bancorp, Inc.	Common	511637100	14,245	910,827	SH		SOLE		910,827	0	0
MVB Financial Corp.	Common	553810102	1,770	85,733	SH		SOLE		85,733	0	0
Malaga Financial Corporation	Common	561046103	2,189	98,385	SH		SOLE		98,385	0	0
Malvern Bancorp, Inc.	Common	561409103	7,547	496,512	SH		SOLE		496,512	0	0
McHenry Bancorp, Inc.	Common	580683209	2,105	60,000	SH		SOLE		60,000	0	0
Mercantile Bank Corporation	Common	587376104	15,081	493,158	SH		SOLE		493,158	0	0
Merchants Financial Group, Inc.	Common	588538108	5,980	214,334	SH		SOLE		214,334	0	0
Metropolitan Bank Holding Corp.	Common	591774104	6,892	203,364	SH		SOLE		203,364	0	0
Mountain Commerce Bancorp	Common	624004107	13,285	565,095	SH		SOLE		565,095	0	0
Northway Financial, Inc.	Common	667270201	3,038	164,138	SH		SOLE		164,138	0	0
Oak Ridge Financial Services, Inc.	Common	671768109	1,093	61,364	SH		SOLE		61,364	0	0
Oak Valley Bancorp	Common	671807105	5,119	216,337	SH		SOLE		216,337	0	0
Old Second Bancorp, Inc.	Common	680277100	28,841	2,051,310	SH		SOLE		2,051,310	0	0
Oregon Pacific Bancorp	Common	686040205	3,803	621,386	SH		SOLE		621,386	0	0
PacWest Bancorp	Common	695263103	3,536	363,362	SH		SOLE		363,362	0	0
Peapack-Gladstone Financial Corporation	Common	704699107	21,682	731,999	SH		SOLE		731,999	0	0
Potomac Bancshares, Inc.	Common	737643106	705	41,492	SH		SOLE		41,492	0	0
Republic First Bancorp, Inc.	Common	760416107	1,364	1,003,081	SH		SOLE		1,003,081	0	0
Riverview Bancorp, Inc.	Common	769397100	1,383	259,007	SH		SOLE		259,007	0	0
Salisbury Bancorp, Inc.	Common	795226109	660	27,366	SH		SOLE		27,366	0	0
Santa Cruz County Bank	Common	801827106	14,670	602,467	SH		SOLE		602,467	0	0
Seacoast Banking Corporation of Florida	Common	811707801	1,604	67,668	SH		SOLE		67,668	0	0
Shore Bancshares, Inc.	Common	825107105	5,692	398,586	SH		SOLE		398,586	0	0
Silvercrest Asset Management Group Inc.	Common	828359109	3,696	203,286	SH		SOLE		203,286	0	0
Southern BancShares (N.C.), Inc.	Common	842243107	7,435	1,330	SH		SOLE		1,330	0	0
Southern First Bancshares, Inc.	Common	842873101	11,622	378,573	SH		SOLE		378,573	0	0
Southern States Bancshares, Inc.	Common	843878307	11,411	506,022	SH		SOLE		506,022	0	0
SouthPoint Bancshares, Inc.	Common	844647107	3,511	109,704	SH		SOLE		109,704	0	0
Summit State Bank	Common	866264203	6,094	439,395	SH		SOLE		439,395	0	0
Tri City Bankshares Corporation	Common	895364107	2,410	172,141	SH		SOLE		172,141	0	0
United Security Bankshares	Common	911460103	2,052	321,563	SH		SOLE		321,563	0	0
Unity Bancorp, Inc.	Common	913290102	22,619	991,614	SH		SOLE		991,614	0	0
Veritex Holdings, Inc.	Common	923451108	4,565	250,000	SH		SOLE		250,000	0	0
Virginia National Bankshares Corp.	Common	928031103	963	26,781	SH		SOLE		26,781	0	0
W.T.B. Financial Corporation	Common	929334209	2,371	7,362	SH		SOLE		7,362	0	0
Pinnacle Bankshares Corporation	Common	72345E102	1,402	70,393	SH		SOLE		70,393	0	0
Mission Valley Bancorp	Common	60520E104	2,311	192,542	SH		SOLE		192,542	0	0
Triumph Bancorp, Inc.	Common	89679E300	19,242	331,418	SH		SOLE		331,418	0	0
Alerus Financial Corporation	Common	01446U103	9,358	583,022	SH		SOLE		583,022	0	0
American Business Bank	Common	02475L105	19,911	603,363	SH		SOLE		603,363	0	0
American Riviera Bancorp	Common	02933K103	6,744	401,196	SH		SOLE		401,196	0	0
Avidbank Holdings, Inc.	Common	05368J103	11,820	695,697	SH		SOLE		695,697	0	0
The Bancorp, Inc.	Common	05969A105	1,506	54,092	SH		SOLE		54,092	0	0
Bancorp 34, Inc.	Common	05970V106	1,743	142,857	SH		SOLE		142,857	0	0
Banc of California, Inc.	Common	05990K106	8,488	677,412	SH		SOLE		677,412	0	0
Bank7 Corp	Common	06652N107	9,452	385,000	SH		SOLE		385,000	0	0
Bankwell Financial Group, Inc.	Common	06654A103	6,877	276,623	SH		SOLE		276,623	0	0
BayFirst Financial Corp.	Common	07279B104	2,075	133,593	SH		SOLE		133,593	0	0
Business First Bancshares, Inc.	Common	12326C105	8,188	478,003	SH		SOLE		478,003	0	0
CNB Corporation	Common	12612R105	1,076	14,348	SH		SOLE		14,348	0	0
California BanCorp	Common	13005U101	11,708	600,086	SH		SOLE		600,086	0	0
CapStar Financial Holdings, Inc.	Common	14070T102	5,937	391,881	SH		SOLE		391,881	0	0
Cashmere Valley Bank	Common	14756K102	1,967	46,387	SH		SOLE		46,387	0	0
Chino Commercial Bancorp	Common	16957L102	1,543	112,606	SH		SOLE		112,606	0	0
CoastalSouth Bancshares, Inc.	Common	19058X207	3,745	214,258	SH		SOLE		214,258	0	0
Colony Bankcorp Inc.	Common	19623P101	11,272	1,105,072	SH		SOLE		1,105,072	0	0
Commencement Bancorp, Inc.	Common	20051D107	2,741	278,560	SH		SOLE		278,560	0	0
Community Bancorp of Santa Maria	Common	20344R103	361	44,600	SH		SOLE		44,600	0	0
Community Financial Corporation	Common	20368X101	886	26,732	SH		SOLE		26,732	0	0
Community Heritage Financial Inc.	Common	20370L103	3,730	206,558	SH		SOLE		206,558	0	0
ConnectOne Bancorp, Inc.	Common	20786W107	10,997	622,006	SH		SOLE		622,006	0	0
Cornerstone Financial Corporation	Common	21925G201	1,584	150,000	SH		SOLE		150,000	0	0
CrossFirst Bankshares, Inc.	Common	22766M109	16,876	1,610,289	SH		SOLE		1,610,289	0	0
Crystal Valley Financial	Common	22941P100	930	16,800	SH		SOLE		16,800	0	0
Dime Community Bancshares, Inc	Common	25432X102	4,948	217,777	SH		SOLE		217,777	0	0
Eagle Financial Services Inc.	Common	26951R104	1,583	46,620	SH		SOLE		46,620	0	0
Equity Bancshares, Inc.	Common	29460X109	3,370	138,292	SH		SOLE		138,292	0	0
FB Financial Corp.	Common	30257X104	2,366	76,129	SH		SOLE		76,129	0	0
FineMark Holdings, Inc.	Common	31788B108	23,309	828,044	SH		SOLE		828,044	0	0
First Bank	Common	31931U102	13,168	1,303,721	SH		SOLE		1,303,721	0	0
First Capital Bancshares, Inc.	Common	31941G101	3,890	428,396	SH		SOLE		428,396	0	0
First Foundation Inc.	Common	32026V104	10,080	1,353,054	SH		SOLE		1,353,054	0	0
First National Corporation	Common	32106V107	3,528	223,120	SH		SOLE		223,120	0	0
First Reliance Bancshares, Inc.	Common	33615Q100	4,920	661,227	SH		SOLE		661,227	0	0
First Southern Bank	Common	33650R104	1,493	196,250	SH		SOLE		196,250	0	0
First Western Financial, Inc.	Common	33751L105	14,422	728,386	SH		SOLE		728,386	0	0
FirstSun Capital Bancorp	Common	33767U107	6,647	237,396	SH		SOLE		237,396	0	0
Five Star Bancorp	Common	33830T103	2,736	128,200	SH		SOLE		128,200	0	0
First Virginia Community Bank	Common	36120Q101	4,078	382,921	SH		SOLE		382,921	0	0
InBankshares, Corp	Common	45332V105	146	16,643	SH		SOLE		16,643	0	0
Investar Holding Corporation	Common	46134L105	7,995	572,699	SH		SOLE		572,699	0	0
i3 Verticals, Inc.	Common	46571Y107	866	35,300	SH		SOLE		35,300	0	0
Lewis & Clark Bancorp	Common	52757L109	21	729	SH		SOLE		729	0	0
Limestone Bancorp, Inc.	Common	53262L105	5,892	264,104	SH		SOLE		264,104	0	0
LinkBancorp	Common	53578P105	6,586	1,004,000	SH		SOLE		1,004,000	0	0
Live Oak Bancshares	Common	53803X105	311	12,750	SH		SOLE		12,750	0	0
MainStreet Bancshares, Inc.	Common	56064Y100	14,244	606,371	SH		SOLE		606,371	0	0
Merchants Bancorp	Common	58844R108	13,273	509,700	SH		SOLE		509,700	0	0
Meridian Bank	Common	58958P104	9,181	728,688	SH		SOLE		728,688	0	0
Mid Penn Bank	Common	59540G107	11,776	459,827	SH		SOLE		459,827	0	0
nCino, Inc.	Common	63947X101	229	9,260	SH		SOLE		9,260	0	0
Open Lending Corporation	Common	68373J104	241	34,220	SH		SOLE		34,220	0	0
Orange County Bancorp	Common	68417L107	21,089	479,306	SH		SOLE		479,306	0	0
Origin Bancorp Inc.	Common	68621T102	5,341	166,142	SH		SOLE		166,142	0	0
PSB Holdings, Inc.	Common	69360N108	6,805	321,756	SH		SOLE		321,756	0	0
Pacific West Bancorp	Common	69506J102	1,574	145,715	SH		SOLE		145,715	0	0
Payoneer Global Inc	Common	70451X104	86	13,700	SH		SOLE		13,700	0	0
Peoples Bancorp	Common	70979X107	2,287	11,434	SH		SOLE		11,434	0	0
Pinnacle Bank	Common	72346K107	3,302	271,318	SH		SOLE		271,318	0	0
Prime Meridian Holding Company	Common	74164R107	5,121	232,776	SH		SOLE		232,776	0	0
Primis Financial Corporation	Common	74167B109	15,683	1,628,521	SH		SOLE		1,628,521	0	0
Princeton Bancorp, Inc.	Common	74179A107	8,965	282,631	SH		SOLE		282,631	0	0
Private Bancorp of America, Inc.	Common	74274F100	8,616	297,097	SH		SOLE		297,097	0	0
QNB Corp.	Common	74726N107	3,054	121,934	SH		SOLE		121,934	0	0
River City Bank	Common	76803X106	4,518	21,617	SH		SOLE		21,617	0	0
Shift4 Payments	Common	82452J109	218	2,880	SH		SOLE		2,880	0	0
Sierra Bancorp	Common	82620P102	7,521	436,746	SH		SOLE		436,746	0	0
SmartFinancial, Inc.	Common	83190L208	13,598	587,648	SH		SOLE		587,648	0	0
South Atlantic Bancshares, Inc.	Common	83636T104	5,647	430,078	SH		SOLE		430,078	0	0
Southern California Bancorp	Common	84252A106	6,832	472,797	SH		SOLE		472,797	0	0
Sterling Bancorp, Inc.	Common	85917W102	2,842	502,061	SH		SOLE		502,061	0	0
Studio Bank	Common	86389R100	881	74,074	SH		SOLE		74,074	0	0
Summit Bank Group, Inc.	Common	86603R100	820	61,893	SH		SOLE		61,893	0	0
Texas Capital Bancshares, Inc.	Common	88224Q107	11,966	244,405	SH		SOLE		244,405	0	0
Third Coast Bancshares	Common	88422P109	7,661	487,654	SH		SOLE		487,654	0	0
Traditions Bancorp, Inc.	Common	89269L102	3,911	222,235	SH		SOLE		222,235	0	0
Two Rivers Financial Group, Inc.	Common	90206L106	990	26,044	SH		SOLE		26,044	0	0
USCB Financial Holdings Inc.	Common	90355N101	2,769	280,000	SH		SOLE		280,000	0	0
United Bancorporation of Alabama, Inc.	Common	90944R100	4,761	123,659	SH		SOLE		123,659	0	0
Village Bank and Trust Financial Corp.	Common	92705T200	816	14,838	SH		SOLE		14,838	0	0
WEX Inc.	Common	96208T104	1,831	9,955	SH		SOLE		9,955	0	0
White River Bancshares Company	Common	96445A108	2,868	41,565	SH		SOLE		41,565	0	0