Mission Driven Bank Fund Invests in Community Lender to Expand Financial Access

The Mission Driven Bank Fund has made a strategic investment in American Bancorp Inc., the parent company of American Pride Bank, to enhance financial services for underserved communities across the United States. This investment represents the Fund's eighth deployment and underscores a commitment to fostering a more inclusive banking ecosystem.

American Pride Bank, a Minority-Depository Institution, will utilize the new capital to expand critical financial services, with a particular emphasis on developing innovative mortgage products and increasing lending opportunities for low- and moderate-income communities. Currently, approximately 75% of the bank's loans are directed to businesses owned by racial and ethnic minority groups.

The investment signals a significant step toward addressing systemic financial disparities. By targeting communities traditionally overlooked by mainstream financial institutions, American Pride Bank aims to create pathways for generational wealth-building and economic empowerment. The bank's strategy aligns closely with the Mission Driven Bank Fund's broader goal of driving meaningful progress in closing the racial wealth gap.

CEO Dominik Mjartan emphasized the bank's mission to ensure comprehensive financial access, noting that many high-potential individuals and communities remain underserved by traditional banking models. The investment will enable the bank to expand its real estate, small business, and consumer lending activities, providing more comprehensive financial solutions.

Portfolio manager Paul Welch highlighted the investment as part of the Fund's long-term strategy to build partnerships that contribute to a more equitable banking system. The Fund continues to raise capital through May 2025 and plans to continue investing in mission-aligned financial institutions in the coming years.

This strategic investment represents more than a financial transaction; it embodies a commitment to economic inclusivity and provides tangible opportunities for communities historically marginalized in the financial landscape. By supporting institutions like American Pride Bank, the Mission Driven Bank Fund is actively working to reshape the banking sector's approach to community development and economic empowerment.