Banker Helping Bankers (BHB) Welcomes
MCBank as New Investor
MCBank as New Investor
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FOR IMMEDIATE RELEASE
AUSTIN, TX - August 28, 2023 - The Bankers Helping Bankers (BHB) Fund is unlocking investment opportunities for community banks and today announced the addition of MCBank as a strategic investor. MCBank's inclusion adds an indispensable layer of historical insight and adaptability to its pool of partners and investors. |
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The BHB Fund was founded with a clear vision: to establish a collaborative ecosystem that empowers community banks to collectively invest in and support the growth of promising fintech startups for the benefit of community banking and the communities they serve.
“As an investor in the BHB Fund, MCBank has the opportunity to directly support the adoption of technology within community banks and contribute its century-spanning expertise to a collaborative ecosystem of like-minded bankers who are driving innovation within the industry,” says Robert Hemsath, CEO of MCBank.
In an era where technological disruption is reshaping the financial landscape, community banks are actively seeking ways to invest in innovative solutions that can elevate their services and customer experiences. However, limited resources often hinder their ability to do so independently. The BHB Fund bridges this gap by providing community banks with a collective platform for investing in carefully curated startups, ensuring they can participate in the next wave of financial innovation.
“The BHB Fund serves community banking. By taking a new approach to picking investment companies, we aim to have higher returns for investors while using a safer data-driven method of selecting companies,” says Dave Mayo – Founder of Bankers Helping Bankers and Advisor/Partner of the BHB Fund.
Together, we are stronger and are poised to amplify our impact on the fintech landscape, empowering community banks to adapt and thrive in a rapidly evolving financial landscape.
For more information on the BHB Fund, please visit www.bhbfundvc.com
About Bankers Helping Bankers (BHB) Fund:
The BHB Fund is a community bank-focused fintech venture capital fund managed by Latitude38 Venture Partners in partnership with IBAT Services, Inc., a subsidiary of the Independent Bankers Association of Texas (IBAT) and FedFis. Latitude38 Venture Partners was launched in 2022 by General Partners Neeraj Vohra and Richard Leggett who bring extensive investing and operating experience. Camden Fine, former President and CEO of the Independent Community Bankers of America (ICBA), serves as a Venture Partner at the BHB Fund along with Christopher Williston - CEO of IBAT, and Dave and Tanner Mayo – CEO and President of FedFis. The BHB Fund is affiliated with the Bankers Helping Bankers Network, launched in 2021 as a collaboration between FedFis and IBAT. The BHB Fund is a fintech-focused venture capital fund “for banks, by banks” that was created to provide community banks with a dual set of benefits: (i) exposure to a diversified portfolio of FinTech investments that improve the competitiveness and efficiency of banks; and, (ii) the potential to earn outsized venture capital returns that are uncorrelated to traditional bank operations.
About MCBank:
MCBank is a forward-looking financial institution committed to driving innovation and positive change within the banking industry. With a focus on customer-centric solutions, MCBank is a respected leader in adopting cutting-edge technologies to enhance its services and offerings.
MCBank, traces its roots all the way to 1888 when banking was limited to the community in which you lived. Started as a “private bank”—a bank opened to serve a community, with no official charter, Trent State Bank opened with $4,168 in deposits. That status changed in 1908 when the Texas State Legislature passed a law, making state charters available for all banks. Trent State Bank applied for and was granted Charter No. 369—the charter is still in use today. Fast forward through the years, and the bank went through various transformations. New branches were built, numerous presidents proudly lead the bank, the bank name was changed to Mills County State Bank, and new locations were opened. New methods of banking were introduced, ensuring the bank could compete and thrive in a fast-changing industry. MCBank strives to play a vital role in supporting its local economies, fostering personal connections, and addressing the distinctive needs of individuals, families, and small businesses.
Media Contact:
Rachel Hernandez
[email protected]
“As an investor in the BHB Fund, MCBank has the opportunity to directly support the adoption of technology within community banks and contribute its century-spanning expertise to a collaborative ecosystem of like-minded bankers who are driving innovation within the industry,” says Robert Hemsath, CEO of MCBank.
In an era where technological disruption is reshaping the financial landscape, community banks are actively seeking ways to invest in innovative solutions that can elevate their services and customer experiences. However, limited resources often hinder their ability to do so independently. The BHB Fund bridges this gap by providing community banks with a collective platform for investing in carefully curated startups, ensuring they can participate in the next wave of financial innovation.
“The BHB Fund serves community banking. By taking a new approach to picking investment companies, we aim to have higher returns for investors while using a safer data-driven method of selecting companies,” says Dave Mayo – Founder of Bankers Helping Bankers and Advisor/Partner of the BHB Fund.
Together, we are stronger and are poised to amplify our impact on the fintech landscape, empowering community banks to adapt and thrive in a rapidly evolving financial landscape.
For more information on the BHB Fund, please visit www.bhbfundvc.com
About Bankers Helping Bankers (BHB) Fund:
The BHB Fund is a community bank-focused fintech venture capital fund managed by Latitude38 Venture Partners in partnership with IBAT Services, Inc., a subsidiary of the Independent Bankers Association of Texas (IBAT) and FedFis. Latitude38 Venture Partners was launched in 2022 by General Partners Neeraj Vohra and Richard Leggett who bring extensive investing and operating experience. Camden Fine, former President and CEO of the Independent Community Bankers of America (ICBA), serves as a Venture Partner at the BHB Fund along with Christopher Williston - CEO of IBAT, and Dave and Tanner Mayo – CEO and President of FedFis. The BHB Fund is affiliated with the Bankers Helping Bankers Network, launched in 2021 as a collaboration between FedFis and IBAT. The BHB Fund is a fintech-focused venture capital fund “for banks, by banks” that was created to provide community banks with a dual set of benefits: (i) exposure to a diversified portfolio of FinTech investments that improve the competitiveness and efficiency of banks; and, (ii) the potential to earn outsized venture capital returns that are uncorrelated to traditional bank operations.
About MCBank:
MCBank is a forward-looking financial institution committed to driving innovation and positive change within the banking industry. With a focus on customer-centric solutions, MCBank is a respected leader in adopting cutting-edge technologies to enhance its services and offerings.
MCBank, traces its roots all the way to 1888 when banking was limited to the community in which you lived. Started as a “private bank”—a bank opened to serve a community, with no official charter, Trent State Bank opened with $4,168 in deposits. That status changed in 1908 when the Texas State Legislature passed a law, making state charters available for all banks. Trent State Bank applied for and was granted Charter No. 369—the charter is still in use today. Fast forward through the years, and the bank went through various transformations. New branches were built, numerous presidents proudly lead the bank, the bank name was changed to Mills County State Bank, and new locations were opened. New methods of banking were introduced, ensuring the bank could compete and thrive in a fast-changing industry. MCBank strives to play a vital role in supporting its local economies, fostering personal connections, and addressing the distinctive needs of individuals, families, and small businesses.
Media Contact:
Rachel Hernandez
[email protected]
Source: FI FinTech Newsroom