what is a pool b?

This is for the gurus like Coleman and Abegg...I am an avid Smcm fan and have been for the last couple years since they have been building the program up. I would like to know does smcm still have a chance at getting into the tourney. They are first in their region and were considered to host the first and maybe second round i heard. I just wanted to know what you think, can they still get a pool c bid even after losing in the semis of their conf. tourney?