The Mission Driven Bank Fund announced an investment in First Mutual Holding Co., the bank holding company for Warsaw Federal Savings & Loan, a Cincinnati-based independent mutual bank and Minority Depository Institution. This represents the Fund's 11th deployment as it continues building active pipelines to invest in MDI and CDFI banks nationwide.
Warsaw Federal intends to use the net proceeds to support the bank's communities by providing focused financial services, tools and education to promote economic opportunity and financial equity. The bank serves as one of only two MDIs headquartered in Ohio and remains the sole MDI currently serving the Cincinnati area, making this investment particularly significant for regional economic development.
This partnership aligns with the Mission Driven Bank Fund's broader mission to foster a stronger and more inclusive banking system by investing capital and providing technical services to FDIC-insured CDFI and MDI banks that target low to moderate income African American, Native American, Asian, Hispanic, and Pacific Islander communities. The Fund's approach combines capital investment with technical services support, following the same model used in prior investments.
Robie Suggs, president & CEO of Warsaw Federal, described the investment as a pivotal step in supporting the strategic growth envisioned for the organization. The bank's mission focuses on empowering underserved communities in the Greater Cincinnati region with financial tools, education, and support needed to thrive. As Warsaw Federal states on its website https://warsawfederal.bank, the institution maintains open doors to everyone while working to build stronger neighborhoods and brighter futures for all residents.
Paul Welch, portfolio manager of the Fund, expressed appreciation for the opportunity to support Warsaw and other mission-aligned banks as they continue providing vital banking services and experiences to often underserved communities. The Mission Driven Bank Fund, which provides detailed information at https://missiondrivenbankfund.org, works to drive growth and financial resiliency in the mission-driven bank sector, translating into progress that helps close the racial wealth gap.
The investment structure involves multiple financial partners, with Elizabeth Park Capital Management and Calvert Impact serving as members of the Fund's general partner. First Mutual Holding Co., which provides additional institutional context at https://firstmutualholding.com, operates as a member-owned mutual holding company headquartered in Ohio that enables independent affiliate banks to continue serving their communities while growing as member-owned institutions.
This deployment represents a strategic commitment to addressing financial inequities through targeted banking investments. By supporting Minority Depository Institutions like Warsaw Federal, the Mission Driven Bank Fund aims to strengthen local economic ecosystems while providing essential financial services to communities that have historically faced barriers to banking access and wealth-building opportunities.
