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 bolster their community-serving missions. The fund, which focuses on strengthening mission-driven banks that serve low- and moderate-income (LMI) and other underserved communities, closed the quarter with these strategic allocations, including its first follow-on investment.
MDBF's investment in Anchor Bank, a Florida-chartered minority depository institution (MDI), marks the fund's first follow-on investment after initially backing the bank in 2024. Since that initial investment, 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. "Our mission is to provide consumer and commercial banking services through a responsive, relationship-focused banking model," said Nelson Hinojosa, President and CEO of Anchor Bank. "MDBF's latest investment will help us continue to grow and execute on our mission of promoting homeownership and supporting local businesses."
Icon Business Bank, an MDI opened in 2023, serves businesses, business owners, families, and individuals throughout Southern California with customized lending and depository solutions. "As a relationship-focused institution, Icon Business Bank is honored to join MDBF's portfolio of banks committed to expanding financial access and supporting community impact," said Ernie Hwang, President and CEO of Icon Business Bank. "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."
These investments bring MDBF's portfolio total to 15 banks. Portfolio banks actively participate in the fund's technical services program, which provides targeted support to build organizational capacity. Paul Welch, portfolio manager of the Fund, noted, "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 Mission Driven Bank Fund works to foster a stronger, more accessible banking system by investing in and providing technical services to mission-driven banks. The fund's mission is to drive growth and financial resiliency in the mission-driven bank sector, translating into wealth creation in the communities these banks serve. Elizabeth Park Capital Management, a specialist firm investing in U.S. banks, and Calvert Impact, a leading impact investing firm, are members of the Fund's general partner. Strategic Value Bank Partners is a sub-advisor, and Performance Trust is a capital advisor and structuring agent for the Fund. More information is available at www.missiondrivenbankfund.org.
