FNBC Bank: The Mission Driven Bank Fund Announces New Investment Aimed at Closing the Racial Wealth Gap
"The Mission Driven Bank Fund today announced an investment in FNBC Bancorp, Inc., a community development financial institution (CDFI) bank committed to expanding financial services in underserved communities in Arkansas and Missouri. The investment adds to the growing portfolio of banks that demonstrate the Fund's commitment to help the underserved by providing mission-aligned banks with a range of investment instruments and subsidized technical services tailored to their needs.
FNBC Bancorp, Inc. will use the capital to expand its geographic footprint and scope in North-Central Arkansas and Southern Missouri. Bank leaders hope to grow their current products to increase credit access in underserved populations, primarily through their First Chance Mortgage Program and Small Dollar Loan Program."