Mission-Driven Institution Generations’ primary source of initial funding came from Old National Bank, Evansville. Old National said that its primary regulator, the Office of the Comptroller of the Currency, approached CEO Jim Ryan several years ago and informally asked if his team could provide guidance to struggling MDIs. He asked the bank’s CEO Council, a group of emerging leaders within the institution,6 to research the topic and come back with ideas. When they discovered Indiana didn’t have any, they recommended that instead of helping out-of-state organizations, Old National should help start a new one in Indiana. “Along with its recommendation, the CEO Council created a high-level business plan for the MDI” that would become Generations Community Bank, according to Al London. London currently serves as senior vice president, community impact director for Old National, but will become Generations’ CEO when it completes its initial capital raise. “While ONB is proud to have several programs and initiatives in place to serve underserved populations, it recognizes that an even greater impact can be made by helping launch an MDI in our home state.” The FDIC has stated that a bank’s investment in MDIs will receive favorable CRA consideration even if the MDI is not serving the assessment area of the investing institution. “ Mission-driven banks play a crucial role in the communities they serve. The NBA report found communities with an MDI present have better credit health as measured by factors like credit score, total credit available and credit utilization rates, relative to demographically similar communities that do not have an MDI present. An American Bankers Association analysis of Small Business Administration 7(a) lending data found MDIs originated roughly 2,500 SBA loans in 2024, totaling $2.2 billion – a 250% increase from pre-COVID figures in 2019.7 Generations’ mission is to speak the language of its community and similarly fill the gaps in access to quality financial products and services through the bank’s core values of collaboration, communication, innovation and discipline. “It is important to note that MDIs were created in the first place because the traditional banking system is generally not equipped to address these issues as effectively as mission-driven banks,” said Rafael Sanchez, Old National Bank’s executive vice president, chief impact officer and Indianapolis Market president. “Old National intends to partner with Generations Community Bank to help drive even more impact to Hoosiers in central Indiana.” Personal Mission It was that dedication to the mission that led London to leave a successful, stable position with a national bank and take the leap to build something from scratch. “I was at a point in my career where I had begun to ask myself, ‘What do I want my career legacy to be?’ and ‘How will I be able to identify how I made a difference in the community that I call home?’” he said. “The mission is part of the DNA of GCB COVER STORY CONT. 12 HOOSIERBANKER
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