The Mission Driven Bank Fund (MDBF) announced two investments in the second quarter of 2026, deploying capital into Anchor Bank and Icon Business Bank to bolster their community-focused banking efforts. The Fund, which aims to strengthen mission-driven banks serving low- and moderate-income (LMI) and other underserved communities, completed its first follow-on investment in Anchor Bank, a Florida-chartered minority depository institution (MDI), and a new investment in Icon Business Bank, an MDI based in Southern California.
Paul Welch, portfolio manager of the Fund, noted that these investments align with MDBF's objective of strengthening mission-focused banks to expand their community impact. Since MDBF's initial investment in 2024, 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, emphasized that the new investment will support the bank's mission of promoting homeownership and supporting local businesses through a responsive, relationship-focused banking model.
Icon Business Bank, which opened in 2023, serves businesses, business owners, families, and individuals throughout Southern California with customized lending and depository solutions. Ernie Hwang, President and CEO of Icon Business Bank, stated that joining MDBF's portfolio will support continued growth and strengthen the bank's ability to deliver tailored banking solutions to more businesses and individuals. The investment brings the total number of MDBF portfolio banks to 15, with portfolio banks actively participating in the Fund's technical services program to build organizational capacity.
MDBF is managed by Elizabeth Park Capital Management and Calvert Impact, with Strategic Value Bank Partners serving as sub-advisor and Performance Trust as capital advisor and structuring agent. The Fund invests in and provides technical services to mission-driven banks to drive growth and financial resiliency, translating into wealth creation in underserved communities. More information is available at www.missiondrivenbankfund.org.
