NATCHITOCHES, La.--(BUSINESS WIRE)--Representatives from MidSouth Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) joined local dignitaries in awarding $6,000 in Partnership Grant Program (PGP) funds to Ben D. Johnson Educational Center. This is the organization’s first PGP award, which will be used to help redevelop an existing commercial property complex in west Natchitoches, Louisiana, into a hub of small businesses and service providers including a café, workforce development program, shared community kitchen and green market.
Ben D. Johnson Educational Center President Claire Prymus said the PGP grant is vital in the organization’s mission in building the Natchitoches community. The organization focuses on educating local youth ages 16 to 24 in a culinary setting. As part of the youth development program, young people learn culinary skills in the kitchen, which can be useful for future employment, accountability and social skills.
“We show them how to walk in the world in terms of employment and employability,” said Ms. Prymus. “When you’re building communities – which is what we’re trying to do – you need banking partnerships and the PGP facilitates those partnerships.”
FHLB Dallas’ PGP awards provide 3:1 matches of member contributions to provide grants up to $12,000 that help promote and strengthen relationships between community-based organizations and FHLB Dallas members. The PGP also complements the development activities fostered by FHLB Dallas’ Affordable Housing and Community Investment programs.
MidSouth Bank CRA Officer LaCarsha Babers said the PGP has been a valuable element of the bank’s partnership with FHLB Dallas.
“Part of MidSouth Bank’s mission is community outreach and development,” said Ms. Babers. “Programs like the PGP are important because they help strengthen our ties to the community.”
In 2018, FHLB Dallas has awarded $300,000 in PGP funds through 31 member institutions to assist 32 community-based organizations. Combined with the $114,010 contributed by FHLB Dallas members, a total of $414,010 has been awarded to the organizations.
“The Partnership Grant Program is a unique community investment tool because it helps our members support their communities,” said Greg Hettrick, first vice president and Community Investment director at FHLB Dallas. “In addition, FHLB Dallas offers a 3 to 1 match of our members’ contributions. They are able to leverage that funding to further the impact on the community-based organizations they support.”
Ms. Prymus said that the organization’s growth would have been delayed without the PGP funds.
“I have banked with MidSouth for years and they have gone above and beyond to help this nonprofit realize its dreams because they value the importance of transforming lives and rebuilding communities,” she said.
To learn more about the PGP, visit fhlb.com/pgp.
About MidSouth Bank
MidSouth Bancorp, Inc. is a financial holding company headquartered in Lafayette, Louisiana, with assets of $1.9 billion as of March 31, 2018. MidSouth Bancorp, Inc. trades on the NYSE under the symbol “MSL.” Through its wholly owned subsidiary, MidSouth Bank, N.A., MidSouth offers a full range of banking services to commercial and retail customers in Louisiana and Texas. MidSouth Bank currently has 42 locations in Louisiana and Texas and is connected to a worldwide ATM network that provides customers with access to more than 55,000 surcharge-free ATMs. Additional corporate information is available at midsouthbank.com.
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 $75.9 billion as of June 30, 2018, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 825 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. Visit fhlb.com for more information.
