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 efforts to serve local communities. The investments align with the Fund's objective of strengthening mission-focused banks to expand their community impact.
According to Paul Welch, portfolio manager of the Fund, the second quarter was successful, as it included both the Fund's first follow-on investment and a new investment. MDBF's investment in Anchor Bank, a Florida-chartered minority depository institution (MDI), marks the Fund's first follow-on investment after initially investing in the bank in 2024. Since MDBF's first investment, Anchor Bank has grown from approximately $350 million in assets to over $600 million, including a recent expansion into Georgia with its assumption of Community Bank & Trust – West Georgia in May.
Nelson Hinojosa, President and CEO of Anchor Bank, emphasized the bank's mission to provide consumer and commercial banking services through a responsive, relationship-focused model. He stated that MDBF's latest investment will help Anchor Bank continue to grow and execute its 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 honor in joining MDBF's portfolio of banks committed to expanding financial access and supporting community impact. He noted that the investment will support continued growth and strengthen the bank's ability to deliver customized banking solutions to more businesses and individuals in the markets it serves.
The 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 their organizational capacity. For more information about the Mission Driven Bank Fund, visit www.missiondrivenbankfund.org.
