Fund completes its first follow-on investment and expands its portfolio with a new community bank
CLEVELAND, OH, July 14, 2026 /24-7PressRelease/ — The Mission Driven Bank Fund (MDBF) closed the second quarter with new investments in Anchor Bank and Icon Business Bank, providing capital intended to support their efforts to serve local communities.
“Completing both our first follow-on investment and a new investment represented a successful quarter for the Fund,” said Paul Welch, portfolio manager of the Fund. “These investments continued the Fund’s objective of strengthening mission-focused banks to expand their community impact.”
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, the 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.
“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.”
Opened in 2023, Icon Business Bank is an MDI serving 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.”
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.
About Mission Driven Bank Fund
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 that offer credit and financial services to low- and moderate-income (LMI) and other underserved communities across the country. 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. For more information, visit www.missiondrivenbankfund.org.
Media inquiries: Greg Joslyn at greg.joslyn@lowecom.com – (414) 376-7275
The above testimonial / endorsement (collectively, the “Statement”) was provided by a portfolio company bank of the Mission Driven Financial Institutions Fund, L.P. (“MDBF”) or its affiliates. No additional compensation, either directly or indirectly, was provided in exchange for such Statement. There is a potential conflict of interest in a portfolio company providing such Statement, as an investment by the fund benefits such portfolio company.
This press release does not constitute an offering of interests in the Fund, which will be made only to qualified investors pursuant to the Fund’s offering documents. Nothing contained in this press release should be relied upon as a promise or representation as to the future performance of the Fund. No representation or warranty is made as to the accuracy of statements, estimates, targets, and/or projections herein, nor as to the ultimate success of the Fund or the external conditions and circumstances under which the Fund will operate. Prospective investors must not rely upon any matters in this release. The activities undertaken by the Fund may differ from those described above due to unexpected external circumstances or otherwise. Moreover, past performance is not a guarantee of future performance.
Certain statements made in this release are “forward looking statements.” These forward-looking statements are not predictions of future performance, conditions or results, and are inherently uncertain and subject to numerous risks, many of which are outside the Fund’s and its advisors’ control. There is no obligation to update or revise any such forward-looking statements.
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