The Mission Driven Bank Fund (MDBF) announced new investments in Anchor Bank and Icon Business Bank during the second quarter of 2026, providing capital to strengthen their community-focused banking efforts. The investments align with MDBF's objective of bolstering mission-driven banks that serve low- and moderate-income (LMI) and other underserved communities.
MDBF's investment in Anchor Bank, a Florida-chartered minority depository institution (MDI), marks the Fund's first follow-on investment after an initial investment in 2024. Since then, Anchor Bank has grown from approximately $350 million in assets to over $600 million, including a recent expansion into Georgia through its assumption of Community Bank & Trust – West Georgia in May. Nelson Hinojosa, President and CEO of Anchor Bank, stated, 'MDBF's latest investment will help us continue to grow and execute on our mission of promoting homeownership and supporting local businesses.'
The Fund also made a new investment in Icon Business Bank, an MDI opened in 2023 that serves businesses and individuals in Southern California with customized lending and depository solutions. Ernie Hwang, President and CEO of Icon Business Bank, noted, '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 MDBF, commented, '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, all of which actively participate in the Fund's technical services program designed to build organizational capacity.
The Mission Driven Bank Fund, managed by Elizabeth Park Capital Management and Calvert Impact, aims to drive growth and financial resiliency in the mission-driven bank sector. For more information, visit www.missiondrivenbankfund.org.
