Bank of America, the second-largest U.S. bank, announced on Monday that it’s now completed 10 equity investments in minority depository institutions (MDIs) and community development financial institution (CDFI) banks in its effort to advance racial equality and economic opportunity.

These investments come after Bank of America made a $1 billion, four-year commitment to community programs and small businesses to address economic and racial inequality in America. The company has now acquired 4.9 percent common equity in each organization as part of the broader $50 million commitment to MDIs and CDFIs.

“By providing equity capital to minority depository institutions, critical projects can be scaled. MDIs are closely connected to the needs of their communities, and these investments will help transform and enable more positive change and economic opportunity,” Bank of America CEO Brian Moynihan said in a statement.

Bank of America’s latest investments in minority lenders include Carver Financial Corporation, Carver Bancorp, Inc. and CNB Bancorp, Inc. (parent of Commonwealth National Bank). Earlier this month, the bank said it acquired equity stakes in CSB&T Bancorp, Inc., First Independence Corporation, Liberty Financial Services, Inc., M&F Bancorp, Inc., SCCB Financial Corp., Southern Bancorp, Inc. and Unity National Bank of Houston, N.A.

These equity investments are in addition to approximately $100 million in deposits from Bank of America in MDIs. The company also operates a $1.6 billion Community Development Financial Institution (CDFI) portfolio with 255 partner CDFIs across all 50 states, providing access to capital to thousands of individuals and small businesses who do not qualify through traditional lenders.

Shares of Bank of America Corp (BAC) were down 2.45 percent to $24.30 on Monday.