Minority Depository Institutions Program
“The FDIC has long recognized the importance of minority depository institutions in the financial system and their unique role in promoting the economic viability of minority and under-served communities.”
FDIC Statement of Policy Regarding Minority Depository Institutions
June 23, 2021
Mission-Driven Bank Fund
In September 2021, the Federal Deposit Insurance Corp. (“FDIC”) encouraged the development of a Mission-Driven Bank Fund (“Fund”), a private capital investment vehicle to support insured Minority Depository Institutions (MDIs) and Community Development Financial Institutions (CDFIs). As anchor investors, Microsoft and Truist Financial Corporation agreed to lead the investment fund and to hire a fund manager. In late 2022, after a competitive process, the anchor investors appointed Calvert Impact (“CI”) and Elizabeth Park Capital Management (“EPCM”) as co-managers and general partners of the fund, with Strategic Value Bank Partners and West Potomac Capital LLC serving as subadvisors. To learn more, please visit www.missiondrivenbankfund.org.
Capital Estimator for Mission-Driven Banks
The federal bank regulatory agencies have developed a capital estimator that will enable mission-driven banks to approximate the impact of additional capital on various capital ratios. Many FDIC-insured MDIs and CDFIs, known as mission-driven banks, are considering raising capital from private companies, large banks, or through the U.S. Department of the Treasury’s Emergency Capital Investment Program. You can use this tool to conduct “what-if” scenarios on various components of your bank’s capital stack.The estimator has been updated to include data as of March 31, 2021.
The MDI Subcommittee of the FDIC’s Advisory Committee on Community Banking (CBAC) provides a platform for MDIs to offer advice to CBAC regarding the FDIC’s MDI program. The MDI Subcommittee promotes collaboration, partnerships, and best practices. MDI Subcommittee members also share insights into key challenges facing their communities and identify ways to highlight the work of MDIs. To learn more, go to the MDI Subcommittee page.
Maggie Lena Walker: America’s National Treasure in Banking
In 1903, Maggie Walker became the first African American woman to found and charter a bank in the United States, serving as its president and using her standing to foster self-sufficiency and economic empowerment in her community. Learn more about her accomplishments.