Mission Driven Bank Fund Invests in American Pride Bank to Expand Financial Access in Underserved Communities

The Mission Driven Bank Fund (MDBF) has made its eighth strategic investment, targeting American Bancorp Inc., the parent company of American Pride Bank, to enhance financial services in underserved communities. This investment represents a significant step toward creating a more inclusive banking ecosystem that addresses systemic economic disparities.

American Pride Bank, a Minority-Depository Institution (MDI), plans to leverage the new capital to expand its lending capabilities, with a particular focus on increasing homeownership and small business opportunities in low- and moderate-income areas. Currently, the bank's loan portfolio predominantly serves businesses in these communities, with approximately 75% of loans directed to racial and ethnic minority groups.

The investment aligns with MDBF's broader mission to foster growth and financial resilience in mission-driven banks. By providing targeted capital and technical services, the fund aims to contribute to closing the racial wealth gap and supporting communities traditionally overlooked by mainstream financial institutions.

CEO Dominik Mjartan emphasized the bank's commitment to providing accessible financial products that enable individuals to pursue their economic aspirations. The strategic investment will allow American Pride Bank to launch a new mortgage division and expand its real estate, small business, and consumer lending activities.

For human resources professionals and business leaders, this investment signals a growing trend toward more intentional, socially responsible financial strategies. It highlights the increasing importance of supporting institutions that prioritize economic equity and community development.

The Mission Driven Bank Fund continues to raise capital through May 2025, demonstrating ongoing commitment to expanding its portfolio of mission-aligned banks. This approach represents a sophisticated model of impact investing that goes beyond traditional financial metrics to address systemic economic challenges.