Jun 10, 2023   SOURCE: BusinessWire

Three Banks Recognized for Commitment to Community Investment

The Federal Home Loan Bank of Dallas (FHLB Dallas) recognized three member financial institutions for their commitment to community investment by naming them 2023 Community Area Revitalization Efforts (CARE) Award recipients. First National Bank Texas (FNBT), Home Bank and The First Bank were honored recently during FHLB Dallas's annual member conference.

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First National Bank Texas, based in Killeen, Texas, was recognized for its commitment to community investment by the Federal Home Loan Bank of Dallas. (Photo: Business Wire)

First National Bank Texas, based in Killeen, Texas, was recognized for its commitment to community investment by the Federal Home Loan Bank of Dallas. (Photo: Business Wire)

Each member was awarded $7,500 to provide to a nonprofit of its choice for demonstrating a commitment to supporting affordable housing or other programs from FHLB Dallas in support of their communities.

FNBT, based in Killeen, Texas, has used Small Business Boost, a secondary loan program from FHLB Dallas that closes the gap between what a business needs and what the member can finance. It has also supported veterans and their families with grants for home repairs through the Housing Assistance for Veterans (HAVEN) program.

Between 2019 and 2022, FNBT leveraged $2.3 million in Affordable Housing Program (AHP), small business assistance and other specialized grant program funds. Watch this video about FNBT’s assistance for small businesses and veterans through FHLB Dallas.

“We’re so honored to accept this prestigious award,” said Adam Martin, senior vice president of Commercial Lending at FNBT. “We will reinvest the award dollars into helping our communities in conjunction with the United Way of Central Texas. We have always enjoyed working with FHLB Dallas and look forward to doing so for years to come.”

Home Bank, based in Lafayette, Louisiana, has been very active in the Partnership Grant Program (PGP), through which FHLB Dallas provides a 3:1 match of member contributions up to $12,000 to help community-based organizations (CBOs) increase their outreach and organizational capacity.

Between 2019 and 2022, Home Bank leveraged more than $4 million in AHP, disaster recovery assistance and other specialized grant program funds. Watch this video about Home Bank’s funding assistance for the Leona Tate Foundation for Change in New Orleans, Louisiana; The Hub: Lafayette Urban Ministries, which provides services to homeless people in Lafayette, Louisiana; and Step Up Acadiana, a Lafayette nonprofit that assists first-time homebuyers through FHLB Dallas programs.

“Home Bank is humbled and thrilled to be a recipient of this prestigious award,” said Kelvin Luster, senior vice president and community development director at Home Bank. “We will use this CARE Award as continued motivation to strive for excellence in helping everyone in our communities that we serve. Because of FHLB Dallas, Home Bank has the privilege and opportunity to do just that.”

The First Bank, based in Hattiesburg, Mississippi, is a Community Development Financial Institution and its use of the Disaster Rebuilding Assistance (DRA) program has played a significant role in the coastal communities of Mississippi that it serves.

“FHLB Dallas programs have helped our communities get back on their feet following devastating storms,” said Jerome Brown, executive vice president and chief community officer at The First Bank. “This CARE Award epitomizes what we do in our communities. It’s a tremendous honor because it truly aligns with our mission, which is to assist the communities that we serve.”

Between 2019 and 2022, The First Bank leveraged more than $3.8 million in AHP, disaster recovery assistance and other specialized grant program funds. Watch this video about its involvement in helping communities recover from natural disasters, including its work with Recover, Rebuild Restore Southeast Mississippi (R3SM).

“It's been a pleasure to work with these members and we’re honored to recognize them for their continued commitment to affordable housing and economic development,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas.

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 $181.2 billion as of March 31, 2023, serves approximately 800 members and associated institutions across our five-state District of Arkansas, Louisiana, Mississippi, New Mexico and Texas. FHLB Dallas provides financial products and services including advances (loans to members) and grant programs for affordable housing and economic development. For more information, visit our website at fhlb.com.