FHLB Dallas and Members Award $600K to 37 Community Organizations
DALLAS--(BUSINESS WIRE)--Jul 19, 2021--
More than $600,000 in funding was awarded to 37 community-based organizations (CBOs) by the Federal Home Loan Bank of Dallas (FHLB Dallas) and its members. FHLB Dallas awarded $400,000 in Partnership Grant Program (PGP) grants, and its members provided an additional $200,250.
Through this unique program, FHLB Dallas member institutions contribute $500 to $4,000 to a CBO, a 501(c)(3) nonprofit, which FHLB Dallas matches at a 3:1 ratio to provide the CBO up to $24,000 per member and $60,000 per year in grant money. PGP grants are awarded annually through FHLB Dallas’ member institutions and help promote and strengthen relationships between CBOs and members.
“We designed the PGP to help our members build and strengthen relationships with local community-based organizations,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. “The funds will help our members directly impact their communities by providing nonprofits the means to contribute resources they need to serve their citizens.”
Among participating members in the program are First Security Bank in Searcy, Arkansas; Origin Bank in Choudrant, Louisiana; Bank of Commerce in Greenwood, Mississippi; Wells Fargo in Houston, Texas; and Texas Bank Financial in Weatherford, Texas.
Here’s what members had to say about the impact of the PGP:
“First Security Bank values its partnership with FHLB Dallas and the wonderful programs it provides. We are excited to further assist nonprofits in our communities through the PGP.”
— Andrea Lewis, CRA Officer at First Security Bank, Searcy, Arkansas
“PGP is a vital program that several of our community organizations rely on for funding. The program is twofold for Origin Bank as it has strengthened our relationship with the nonprofit, and the program also puts the bank’s name out in the community.”
— Shelia Grayson, Vice President CRA at Origin Bank, Choudrant, Louisiana
“The program allows us to reinvest funds back into underserved communities that need it most. We are honored to partner with FHLB Dallas this year.”
— Timothy Stanciel, Vice President and CRA Officer at Bank of Commerce, Greenwood, Mississippi
“FHLB Dallas has helped us build new relationships with community-driven organizations through the Partnership Grant Program. Wells Fargo is committed to serve the community by providing critical resources to serve our nonprofit organizations through this opportunity.”
— Patricia Parina, VP, Relationship Manager at Wells Fargo, Houston, Texas
“Texas Bank Financial is committed to providing funding for nonprofit organizations to aid them in assisting the community. We are honored to partner with FHLB Dallas.”
— Mark Riebe, President & CEO at Texas Bank Financial, Weatherford, Texas
The PGP may be used for:
- Organizational capacity-building
- Assistance with applying for grants and other funding sources
- Research and studies
- Contractual services
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $61.1 billion as of March 31, 2021, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit our website at fhlb.com.
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CONTACT: Corporate Communications
Federal Home Loan Bank of Dallas
KEYWORD: UNITED STATES NORTH AMERICA ARKANSAS NEW HAMPSHIRE LOUISIANA TEXAS MISSISSIPPI
INDUSTRY KEYWORD: PROFESSIONAL SERVICES PHILANTHROPY OTHER PHILANTHROPY FINANCE FOUNDATION BANKING
SOURCE: Federal Home Loan Bank of Dallas
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PUB: 07/19/2021 05:52 PM/DISC: 07/19/2021 05:52 PM