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 help these institutions expand their community-focused services. This marks the Fund's first follow-on investment and a new partnership, continuing its strategy of strengthening mission-driven banks.
MDBF's investment in Anchor Bank, a Florida-chartered minority depository institution (MDI), is its first follow-on investment after an initial investment in 2024. Since then, Anchor Bank has grown from approximately $350 million to over $600 million in assets, including a recent expansion into Georgia through the assumption of Community Bank & Trust – West Georgia in May. Nelson Hinojosa, President and CEO of Anchor Bank, emphasized the bank's commitment to providing relationship-focused banking and promoting homeownership and local business support. He stated that the latest investment will enable continued growth and mission execution.
Icon Business Bank, an MDI opened in 2023, serves businesses and individuals in Southern California with customized lending and depository solutions. Ernie Hwang, President and CEO, noted that the investment will support growth and strengthen their ability to deliver tailored banking services. The bank joins MDBF's portfolio to expand financial access and community impact.
With these additions, MDBF now has 15 portfolio banks, all of which actively participate in the Fund's technical services program to build organizational capacity. Paul Welch, portfolio manager, highlighted the successful quarter with both a follow-on and new investment, reinforcing the Fund's objective of strengthening mission-focused banks.
The Mission Driven Bank Fund aims to foster a stronger, more accessible banking system by investing in and providing technical services to mission-driven banks serving low- and moderate-income and underserved communities. Elizabeth Park Capital Management and Calvert Impact are members of the Fund's general partner, with Strategic Value Bank Partners as sub-advisor and Performance Trust as capital advisor. For more information, visit www.missiondrivenbankfund.org.
