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-focused banking efforts. The fund, which targets mission-driven banks serving low- and moderate-income (LMI) and other underserved communities, completed its first follow-on investment with Anchor Bank and added Icon Business Bank to its portfolio.
Paul Welch, portfolio manager of the Fund, highlighted the significance of the quarter: "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."
Anchor Bank, a Florida-chartered minority depository institution (MDI), initially received investment from MDBF in 2024. Since then, the bank has grown from approximately $350 million in assets to over $600 million, 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, noted: "Our mission is to provide consumer and commercial banking services through a responsive, relationship-focused banking model. 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, opened in 2023, is an MDI serving businesses, business owners, families, and individuals throughout Southern California with customized lending and depository solutions. Ernie Hwang, President and CEO of Icon Business Bank, expressed enthusiasm: "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. 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 latest investments bring the total number of MDBF portfolio banks to 15. Portfolio banks continue to actively participate in the Fund's technical services program, which provides targeted support to build organizational capacity. The Fund is managed by Elizabeth Park Capital Management and Calvert Impact, with Strategic Value Bank Partners as sub-advisor and Performance Trust as capital advisor and structuring agent. More information is available at www.missiondrivenbankfund.org.
The investments underscore the growing importance of MDIs in addressing financial inclusion. By providing capital and technical assistance, MDBF enables these banks to expand lending and services in communities that often lack access to traditional banking. For readers, this means increased opportunities for homeownership and small business support in underserved areas. For the industry, it highlights a model for strengthening community banks that prioritize social impact alongside financial returns.
