LITTLE ROCK, Ark.--(BUSINESS WIRE)--Little Rock, Arkansas-based nonprofit, Feed Arkansas Kids, works to combat the ongoing issue of food insecurity in Arkansas by providing weekend meals to children. Thanks to $4,000 in Partnership Grant Program (PGP) funds to the nonprofit from BancorpSouth Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas), efforts to serve this vulnerable population in Arkansas will be expanded. The funds will be used to offset operation and administrative expenses and meals for residents of a home for area homeless women and children, providing financial literacy training and job placement services. Construction of the new homeless home will be spearheaded by Feed Arkansas Kids and will open in 2018.
Representatives from the banks were joined by Feed Arkansas Kids leadership, including organization founder Mark Evans, who still serves as the organization’s senior pastor, at a check presentation today announcing the grant. Feed Arkansas Kids Executive Pastor Sean McKean said the grant will help the organization extend its reach in the community.
“There are so many things that we would love to be able to do but our hands are tied because of a lack of funding,” he said. “The PGP is a godsend for us, and we’re so thankful for the programs that the Federal Home Loan Bank of Dallas and members, like BancorpSouth, provide.”
Mr. McKean worked with BancorpSouth Bank Vice President and Community Development Grant Specialist Evelyn Edwards during the grant application process. He said that when he found out Feed Arkansas Kids was eligible for the grant, he took a photo of the notice he’d received in the mail from FHLB Dallas and sent it to Ms. Edwards.
“I texted Evelyn the picture of the letter and asked her if it was for real,” recalled Mr. McKean. “We were just so happy to receive the grant!”
BancorpSouth Bank’s Little Rock Market President Chris Locke emphasized BancorpSouth’s commitment to supporting the community.
“When issues such as food insecurity affect a region, children often suffer the most,” said Mr. Locke. “As a community bank, it is our responsibility to utilize programs such as the PGP to assist the in-need residents of our community.”
The structure of the PGP enables FHLB Dallas member institutions like BancorpSouth Bank to make a contribution of $500 to $4,000 to a community-based organization (CBO), which FHLB Dallas will match at a 3:1 ratio. In 2017, FHLB Dallas awarded $300,000 in Partnership Grant Program (PGP) funds through 31 member institutions to assist 30 community-based organizations. Combined with the $104,550 contributed by FHLB Dallas members, a total of $404,550 was awarded to the organizations.
“The PGP gives weight to the powerful effects of partnership,” said Bruce Hatton, vice president and Affordable Housing Program manager at FHLB Dallas. “We are proud to provide our members with the tools to impact their communities positively.”
To learn more about the PGP, visit fhlb.com/pgp.
BancorpSouth (NYSE: BXS) is headquartered in Tupelo, Mississippi, with $14.8 billion in assets. The company operates 234 full service branch locations as well as additional mortgage, insurance, and loan production offices in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas, including an insurance location in Illinois. BancorpSouth is committed to a culture of respect, diversity, and inclusion in both its workplace and communities. To learn more, visit our Community Commitment page at www.bancorpsouth.com. "Like" us on Facebook; follow us on Twitter@MyBXS; or connect with us through LinkedIn.
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 $62.9 billion as of June 30, 2017, 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.