A method for replacing a deficient native mitral valve includes positioning a support band around the leaflets of a native mitral valve and expanding a prosthetic heart valve within the native mitral valve. After the prosthetic heart valve is expanded, the leaflets of the native mitral valve are captured between the prosthetic heart valve and the support band. The prosthetic heart valve and support band are delivered into the body as separate and independent components. The prosthetic heart valve and support band may be deliverable into the left ventricle via a transapical approach in a minimally invasive procedure.