Mission Driven Bank Fund Invests in Mississippi Community Bank to Advance Affordable Homeownership

The Mission Driven Bank Fund (MDBF) has made a strategic investment in GBS Financial Inc., the parent company of Grand Bank for Savings, FSB, a Minority-Depository Institution based in Hattiesburg, Mississippi. This partnership aims to promote affordable homeownership and provide innovative financial products to underserved communities across the United States. The investment represents MDBF's 10th deployment, highlighting its ongoing commitment to supporting mission-aligned banks that serve African American, Native American, Asian, Hispanic, and Pacific Islander communities.

Chris Sawyer, president and CEO of Grand.bank, emphasized the bank's goal to enhance the financial well-being of over one million members of underserved communities by 2030. The support from MDBF, both financial and technical, is pivotal in achieving this ambitious target. Paul Welch, portfolio manager of the Fund, noted the alignment between Grand.bank's mission and the Fund's objectives, particularly in ensuring access to financial opportunities for all.

This collaboration is a significant step towards closing the racial wealth gap by fostering a more inclusive banking system. The Fund's investment in Grand.bank not only supports the bank's expansion of affordable financial solutions but also reinforces the importance of mission-driven banking in creating generational wealth and financial resilience in underrepresented communities.