The Mission Driven Bank Fund (MDBF) announced two new investments in the second quarter of 2026, providing capital to Anchor Bank and Icon Business Bank to enhance their community-focused banking services. These investments align with the Fund's objective of strengthening mission-driven banks to expand their impact in low- and moderate-income and underserved communities.
MDBF's investment in Anchor Bank, a Florida-chartered minority depository institution (MDI), marks its first follow-on investment since initially backing the bank in 2024. Since then, Anchor Bank has grown from approximately $350 million to over $600 million in assets, including a recent expansion into Georgia with its assumption of Community Bank & Trust – West Georgia in May. Nelson Hinojosa, President and CEO of Anchor Bank, stated, 'Our mission is to provide consumer and commercial banking services through a responsive, relationship-focused banking model. MDBF's latest investment will help us continue to grow and execute on our mission of promoting homeownership and supporting local businesses.'
Icon Business Bank, an MDI serving Southern California, also received an investment from MDBF. Opened in 2023, the bank offers customized lending and depository solutions to businesses, business owners, families, and individuals. Ernie Hwang, President and CEO of Icon Business Bank, commented, 'As a relationship-focused institution, Icon Business Bank is honored to join MDBF's portfolio of banks committed to expanding financial access and supporting community impact. This investment will support our continued growth and strengthen our ability to deliver customized banking solutions to more businesses and individuals in the markets we serve.'
Paul Welch, portfolio manager of the Fund, noted, 'Completing both our first follow-on investment and a new investment represented a successful quarter for the Fund. These investments continued the Fund's objective of strengthening mission-focused banks to expand their community impact.' The latest investments bring the total number of MDBF portfolio banks to 15. Portfolio banks actively participate in the Fund's technical services program, which provides targeted support to build organizational capacity.
The Mission Driven Bank Fund works to foster a stronger, more accessible banking system by investing in and providing technical services to mission-driven banks. The Fund's mission is to drive growth and financial resiliency in the mission-driven bank sector, translating into wealth creation in the communities these banks serve. Elizabeth Park Capital Management and Calvert Impact are members of the Fund's general partner, with Strategic Value Bank Partners as a sub-advisor and Performance Trust as a capital advisor and structuring agent. For more information, visit www.missiondrivenbankfund.org.
