{
  "crd_number": 106305,
  "slug": "1st-and-main-growth-partners-chicago-il-106305",
  "primary_business_name": "1ST & MAIN GROWTH PARTNERS",
  "legal_name": "THE BANC FUNDS COMPANY, L.L.C.",
  "dbas": [
    "1ST & MAIN GROWTH PARTNERS"
  ],
  "city": "Chicago",
  "state": "IL",
  "country": "United States",
  "cbsa_code": "16980",
  "metro": {
    "cbsa_code": "16980",
    "common_name": "Chicago",
    "msa_name": "Chicago-Naperville-Elgin, IL-IN",
    "path": "/advisors/il/chicago"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "1997-02-14",
  "years_registered": 29,
  "period": "2026-10-01",
  "filing_date": "2026-04-28",
  "carried_forward": false,
  "raum_total": 680414583.0,
  "raum_discretionary": 680414583.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "500m_1b",
  "raum_band_label": "$500 million to $1 billion",
  "total_employees": 13,
  "advisory_employees": 10,
  "client_count_bucket": null,
  "clients_by_type": {
    "pooled_investment_vehicles": {
      "raum": 680414583.0,
      "count": 3
    }
  },
  "compensation_types": [
    "other",
    "performance_based"
  ],
  "advisory_activities": [
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": false,
  "disclosure_yes_count": 2,
  "states_registered": [],
  "websites": [
    "https://1standmain.co"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/106305",
  "disclosure_items": [
    {
      "item": "11.C(2)",
      "question": "Has the SEC or the CFTC ever found that the firm or an advisory affiliate was involved in a violation of SEC or CFTC regulations or statutes?"
    },
    {
      "item": "11.C(5)",
      "question": "Has the SEC or the CFTC ever imposed a civil money penalty on the firm or an advisory affiliate, or ordered the firm or an advisory affiliate to cease and desist from an activity?"
    }
  ],
  "city_as_filed": "CHICAGO",
  "url": "https://advisorcensus.com/firm/1st-and-main-growth-partners-chicago-il-106305",
  "display_name": "1st & Main Growth Partners",
  "summary": "1st & Main Growth Partners is an SEC-registered investment advisory firm in Chicago, IL, registered since 1997, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated April 28, 2026.",
  "citation": "AdvisorCensus. 1st & Main Growth Partners (CRD 106305): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "Performance-based fees",
    "Other"
  ],
  "advisory_activity_labels": [
    "Portfolio management for pooled investment vehicles (other than investment companies)"
  ],
  "quick_answers": [
    {
      "q": "How is 1st & Main Growth Partners compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), 1st & Main Growth Partners reports these compensation arrangements: performance-based fees; other. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is 1st & Main Growth Partners located?",
      "a": "1st & Main Growth Partners' principal office is in Chicago, IL, according to its Form ADV; the May 2026 filing also lists 1 other office (Schedule D, Section 1.F)."
    },
    {
      "q": "Is 1st & Main Growth Partners registered with the SEC or a state?",
      "a": "1st & Main Growth Partners is an SEC-registered investment advisory firm, registered since 1997. Status as filed: Approved. CRD 106305."
    },
    {
      "q": "How much does 1st & Main Growth Partners manage?",
      "a": "1st & Main Growth Partners reports $680,414,583 in regulatory assets under management in its Form ADV filing dated April 28, 2026 (100% discretionary)."
    },
    {
      "q": "How have 1st & Main Growth Partners' assets and staff changed since 2021?",
      "a": "In the Form ADV data for 1st & Main Growth Partners: Regulatory assets under management: $1,105,404,966 in the October 2021 data and $680,414,583 in the October 2026 data, down 38%. Total employees: 14 in October 2021 and 13 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does 1st & Main Growth Partners serve?",
      "a": "By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (3)."
    },
    {
      "q": "Does 1st & Main Growth Partners report any disciplinary disclosures?",
      "a": "Reports 2 disclosure items on Form ADV Item 11: yes answers to 11.C(2) (SEC or CFTC finding of a violation) and 11.C(5) (SEC or CFTC civil money penalty or cease-and-desist order). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/106305"
    },
    {
      "q": "What changed in 1st & Main Growth Partners' recent Form ADV filings?",
      "a": "In the April 2026 filing data: Regulatory assets under management went from $957,376,625 to $680,414,583 (-29%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 1105404966.0,
      "total_employees": 14,
      "filing_date": "2021-05-28"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 1316413639.0,
      "total_employees": 16,
      "filing_date": "2022-03-28"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 1173494894.0,
      "total_employees": 17,
      "filing_date": "2023-03-30"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 1077342851.0,
      "total_employees": 18,
      "filing_date": "2024-03-26"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 957376625.0,
      "total_employees": 15,
      "filing_date": "2025-03-28"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 680414583.0,
      "total_employees": 13,
      "filing_date": "2026-04-28"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Regulatory assets under management went from $957,376,625 to $680,414,583 (-29%)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [],
  "custodians_note": null,
  "markdown_url": "https://advisorcensus.com/firm/1st-and-main-growth-partners-chicago-il-106305.md",
  "clients": [
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 3,
      "fewer_than_5": false,
      "raum": 680414583.0
    }
  ],
  "disclosure_line": "Reports 2 disclosure items on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/106305",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}