SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Gossett James C

(Last)

(First)

(Middle)

C/O THE BANC CORPORATION

17 NORTH 20TH STREET

(Street)

BIRMINGHAM

35203

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
07/21/2005

3. Issuer Name and Ticker or Trading Symbol
BANC CORP [ TBNC ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Accounting Officer

5. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	300	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Option	⁽¹⁾	06/20/2010	Common Stock	2,500	$6	D
Stock Option	⁽²⁾	06/19/2011	Common Stock	2,500	$6.65	D
Stock Option	⁽²⁾	06/19/2011	Common Stock	5,000	$6.65	D
Stock Option	⁽³⁾	07/31/2012	Common Stock	2,500	$7.67	D
Stock Option	⁽⁴⁾	06/15/2014	Common Stock	15,000	$6.25	D
Stock Option	⁽⁵⁾	07/15/2015	Common Stock	5,000	$10.68	D

Explanation of Responses:

1. This option vests in five equal annual installments beginning on June 20, 2000, the grant date.

2. This option vests in five equal annual installments beginning on June 19, 2001, the grant date.

3. This option vests in five equal annual installments beginning on July 31, 2002, the grant date.

4. This option vests in five equal annual installments beginning on June 15, 2004, the grant date.

5. This option vests (a) 50% when the market price of the stock is at least $12.00 but not more than $14.00 per share, (b) 50% when such market price is at least $14.00 per share, or (c) to the extent not otherwise vested, five years from the date of grant.

	/s/ F. Hampton McFadden, Jr., Attorney-in-fact	08/01/2005
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.