Founded in 2009, NCB is one of the first Hispanic-American investment companies formed specifically to invest and grow community banks that service the growing demand for funding the Gap Financing target community services to Low-and moderate-income individuals (“LMI”) or workforce.
In 2010 successfully “White Knighted” a mutual savings and loan under a supervisory Thrift conversion into a Stock savings and loan for a bank founded in 1910.
In 2013 NCB formed a Public Private Partnership venture with a CDFI, New Jersey Community Capital (“NJCC”), to acquire non-performing loan pools from FHA and Public funds from Treasury. NCB raised over $10 million in equity with the leverage from Prudential and MetLife and public funding to purchase of 250 non-performing mortgages totaling ~$56 million from the “Set Aside” loan sales in HUD’s Distressed Asset Stabilization Program auction.
In 2014 NCB newly established CO. offices formed a Public Private Partnership which invested $18 million total proceeds of debt from Freddie Mac and equity to acquire multi-family workforce rental housing. It also reached an agreement with the Denver Housing Authority to build its capacity to meet the housing needs of the workforce.