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

The Mission Driven Bank Fund has strategically invested in American Bancorp Inc., the parent company of American Pride Bank, to bolster financial services in underserved communities. This investment represents the fund's eighth deployment and underscores a commitment to creating a more inclusive banking ecosystem.

American Pride Bank, a Minority-Depository Institution, plans to leverage the capital to expand its lending capabilities, with a specific focus on developing innovative mortgage products and enhancing small business lending. Currently, the bank's loan portfolio predominantly serves low- and moderate-income communities, with approximately 75% of loans directed to racial and ethnic minority groups.

The investment addresses critical financial disparities by providing targeted capital to institutions dedicated to serving marginalized communities. By supporting mission-aligned banks like American Pride Bank, the fund aims to create pathways for generational wealth-building and economic opportunity.

Dominik Mjartan, CEO of American Bancorp Inc., emphasized the importance of providing financial services to historically overlooked populations. The bank's approach focuses on high-touch, flexible banking solutions designed to support entrepreneurship and community development.

The Mission Driven Bank Fund's strategic investment highlights a growing recognition of the need to address systemic economic inequalities through targeted financial support. By investing in institutions that prioritize community-centered banking, the fund contributes to broader efforts to close the racial wealth gap and promote economic inclusivity.

With plans to continue raising capital through May 2025, the fund demonstrates a long-term commitment to transforming the banking landscape and supporting financial institutions that prioritize social impact alongside economic performance.