The Mission Driven Bank Fund (MDBF) announced two new investments in the second quarter of 2026, marking a significant step in its mission to strengthen community-focused banks. The fund invested in Anchor Bank, a Florida-chartered minority depository institution (MDI), and Icon Business Bank, an MDI serving Southern California. These investments aim to expand credit and financial services to low- and moderate-income (LMI) and other underserved communities.
According to Paul Welch, portfolio manager of the Fund, "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 investment in Anchor Bank marks MDBF's first follow-on investment, having initially invested in the bank in 2024. Since then, Anchor Bank has grown from approximately $350 million in assets to over $600 million, 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 that the latest investment will help the bank continue to grow and execute its mission of promoting homeownership and supporting local businesses.
Icon Business Bank, opened in 2023, provides customized lending and depository solutions to businesses, business owners, families, and individuals throughout Southern California. Ernie Hwang, President and CEO of Icon Business Bank, expressed honor in joining MDBF's portfolio, noting that the investment will support continued growth and strengthen the bank's ability to deliver customized banking solutions. The latest investments bring the total number of MDBF portfolio banks to 15. Portfolio banks continue to 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. Elizabeth Park Capital Management, a specialist firm investing in U.S. banks, and Calvert Impact, a leading impact investing firm, are members of the Fund's general partner. Strategic Value Bank Partners is a sub-advisor, and Performance Trust is a capital advisor and structuring agent for the Fund. For more information, visit www.missiondrivenbankfund.org.
This press release does not constitute an offering of interests in the Fund, which will be made only to qualified investors pursuant to the Fund's offering documents. Certain statements made in this release are forward-looking statements and are not predictions of future performance.
