Impact Banking creates a virtuous loop that has the power to transform our region. It begins when anchor institutions, investors, and individuals deposit capital in locally owned, locally focused banks that are committed to Shared Prosperity. The banks in turn invest more in underserved areas to create opportunities for families to buy homes, start or scale businesses, and invest in education.
Impact Banking creates a shared risk model. Depositors choose to accept a bit less financial return to allow community-focused banks like Midwest BankCentre to take on a bit more risk in extending capital to the most under-resourced.
Orvin Kimbrough, Chairman and CEO of Midwest BankCentre, believes there is a strong will to revitalize our region. Through the lens of Impact Banking, he sees a way forward. It requires community banks to be hyper-focused on making meaningful, long-term investments in communities that will lift more people up. It requires rethinking ROI in terms of both financial AND social returns to be transformative. It requires partnerships with anchor institutions, investors and individuals to unleash the power of the capitalism and scalable capital to the benefit of all.
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EVERY DOLLAR CIRCULATES 6x IN ST. LOUIS' ECONOMY
THE FIVE PILLARS OF IMPACT BANKING
INTENTIONALITY
Investment with the intention to have a positive social and financial impact through access to banking services and the extension of capital.
INVESTMENT WITH RETURN EXPECTATIONS
Expectations of preservation of capital or modest financial return on deposits,* coupled with social returns. To the extent that one chooses to leverage the bank’s lending platform by purchasing a stake in loans, they will not only receive a risk adjusted return, but further enable the bank to moderate risk and responsibly lend more.
EXPECTATIONS WITH
COMMUNITY BANKS
Community banks who subscribe to the Impact Banking philosophy are required to invest in human resources that connect the banks to the community by developing an innovative portfolio of mortgages, small-dollar products, and competitive solutions for individuals and businesses.
IMPACT MEASUREMENT
The community bank commits to report transparently the level of deposits received, and capital investment to support low-to-moderate income markets, the challenges with investing more credit, and ways for a community of volunteers to rally in support of building capacity.
EXPECTATIONS OF COMMUNITY
The community commits to increased awareness of non-predatory mainstream lending, support services, loan payoff accountability, and the level of “patient charitable capital” that can serve in the first loss position for economic development projects, home mortgages and consumer and small business loans for low-to moderate-income people and projects.
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READY TO LEARN MORE?
Read Orv's position paper today!
Contact Orv by emailing him at: HeyOrvSTL@MidwestBankCentre.com
or call him at (314) 446-3175
LEARN HOW YOU CAN MAKE A DIFFERENCE BY CHOOSING WHERE YOU BANK
*If your investment deposit is below the current market price, the Bank will provision more to account for potential higher rates of losses, and provide preservation of deposit with a modest return to depositor and the Bank.
SUPPORT FOR IMPACT BANKING FROM LOCAL LEADERS
“BJC hopes other anchor institutions will see the transformative power of Impact Banking. The region has enough muscle to make real and lasting change by simply choosing where they bank.”
— Dr. Jason Purnell, Vice President, Community Health Improvement, BJC HealthCare
“Impact banking is another important step on the journey towards inclusion. Providing people with equal opportunities starts with access and I commend Orv and his team for their innovative and forward-thinking of Impact Banking. We all need to work together across this region to provide these innovative opportunities!”
— Andrew Davidson, Office Managing Partner, KPMG US
“The realization that our organization could multiply the benefits of our tax revenues from the community through Impact Banking is profound. While we ensure we use our revenues for building, promoting and sustaining greenways for citizens in the St. Louis region, we now know that distributing resources through Impact Banking, changes lives in the community. This is an essential piece of our commitment to investing equitably in the region.”
— Susan Trautman, CEO, Great Rivers Greenway
“Orv Kimbrough is one of St. Louis’ brightest lights. He has a crystal-clear vision regarding the value of investment (instead of simple charity) in the region. St. Louis has repeatedly proven that our problems will not be solved by throwing money at them. People need the dignity of ownership and Midwest Bank Centre’s Impact Banking concept is one of the clearest examples I’ve seen of offering hope through the dignity of investment and ownership.”
— Jason Carter, Founder and CEO, UNCOMN
“I have witnessed firsthand the ‘multiplier effect’ of entrusting deposits to community banks. Banking locally is investing locally — circulating capital where the returns lift the whole community up.”
— Gina Hoagland, Chairman, CEO and Principal, Collaborative Strategies Inc.
“Very informative. Intuitively, I was aware of the potential help but this document does a great job of expanding my knowledge and engagement in the power of this idea.”
— Steven Burghart, President, SSM Health Cardinal Glennon Children's Hospital
Meet Amira Jahic, of AJ Wellness Pharmacy. When the pharmacy Amira managed for 15 years suddenly closed, she turned to Midwest BankCentre for a line of credit. 6-weeks later she opened her own door. Today, the pharmacy’s multicultural staff serves the Bosnian, Black, Hispanic, Vietnamese, Russian, and Afghanistan communities in South St. Louis.
Impact Banking Changes Lives and Transforms our Region.
IMPACT BANKING IN THE NEWS
Read how BJC HealthCare partnered with MBC to address a historic lack of investment in the City of St. Louis and north St. Louis County.
Discover how BJC HealthCare financially invested more in the community by leveraging its balance sheet and partnered with MBC.
Find how BJC HealthCare, and Midwest BankCentre, are working together to improve the health of the community by addressing a lack of investment in the city of St. Louis and north St. Louis County.
Corporate Philanthropy Awards 2023: Read how BJC HealthCare funnels capital into north St. Louis with help from Midwest BankCentre
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