BATESVILLE, Ark.--(BUSINESS WIRE)--The Community Enrichment Organization (CEO) yesterday received an $18,500 Partnership Grant Program (PGP) award from First Community Bank, FNBC Bank, and the Federal Home Loan Bank of Dallas (FHLB Dallas). The funds will be used to help the community’s homeless in a variety of ways including life-skills training, rehabilitation, and transportation to work, classes, and appointments.
Today’s grant follows a $16,000 PGP award in 2015 from First Community Bank that was put toward acquiring a shelter for families.
“Thank you for partnering with us on such a meaningful project,” said CEO Executive Director Autumn Hunter. “You all are making it possible to bring hope to homeless families who need a hand up. That’s what we are here to do, and we could not do it without the help of First Community Bank, FNBC Bank, and FHLB Dallas.”
The CEO was established in February 2015 to improve Batesville by serving the homeless.
Through the PGP, member institutions contribute $500 up to $4,000 to a community-based organization (CBO). FHLB Dallas matches the contributions at a 3:1 ratio, which provide up to $12,000 in grant money to a CBO. In 2016, FHLB Dallas awarded $225,000 in PGP funds to assist 23 CBOs. Combined with the $96,200 from member institutions, a total of $321,200 was awarded this year.
“FNBC Bank believes in the work of the Community Enrichment Organization,” said Molly Carpenter, vice president of marketing and public relations at FNBC Bank. “Our commitment to this community encompasses all of its residents. We appreciate all that CEO does and in conjunction with other nonprofits to help those in need.”
Research from the U.S. Census Bureau and the American Community Survey showed that the number of Arkansas residents living in poverty nearly doubled from 599,602 in 2000 to 1,097,807 in 2010.
“First Community Bank is committed to being a strong partner to Batesville, and we value this chance to make a difference in the lives of our neighbors,” said Chris Milum, commercial lender at First Community Bank.
PGP grants are offered annually through FHLB Dallas’ member institutions via a lottery system. Funds may be used for research, organizational capacity-building, grant- and funding-application assistance, or contractual services.
“The PGP leverages the power of partnership between FHLB Dallas and our member institutions,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. “The shared dedication of First Community Bank and FNBC Bank to Batesville means the entire community benefits. It’s the premise upon which the PGP was designed.”
About First Community Bank
First Community Bank, which is locally owned and managed, opened Aug. 4, 1997, in Batesville, Ark., and operates 17 full-service branches in Arkansas and Missouri and a stand-alone mortgage origination office in Craighead County, Ark. First Community employs more than 300 professional bankers and reports assets as of June 30, 2016, of more than $1.1 billion.
About FNBC Bank
FNBC Bank is a community bank headquartered in Ash Flat, Ark. Originally chartered in 1912 as the Bank of Ash Flat, FNBC now has 10 branches serving Ash Flat, Cherokee Village, Hardy, Highland, Mammoth Spring, Salem, Horseshoe Bend, Melbourne, Batesville and Mountain Home. The organization was recognized by American Banker Magazine as one of the Best Banks to Work For in 2015 and 2016.
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 $54.4 billion as of June 30, 2016, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 850 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. Visit fhlb.com for more information.