BATON ROUGE, La.--(BUSINESS WIRE)--Three Baton Rouge, Louisiana, banks – Home Bank N.A, Hancock Whitney, and Investar Bank – have combined with the Federal Home Loan Bank of Dallas (FHLB Dallas) to provide a total of $14,000 in grant funds to the Scotlandville Community Development Corporation.
The Partnership Grant Program (PGP) funds will help Scotlandville Community Development Corporation identify and reach out to people who are contemplating the purchase of their first home. The organization will then educate the prospective buyers on everything they need to know and do.
“The grant will help us to identify community residents who are interested in getting their finances together so they can purchase their first home,” said Pat McCallister-LeDuff, president of the nonprofit.
Brandon Kelly, vice president and community reinvestment act officer for Home Bank, said affordable housing is a critical need in the Baton Rouge community. “The Scotlandville Community Development Corporation is a visionary organization tackling this need head on,” he said. “Home Bank is proud to join with the Federal Home Loan Bank of Dallas to support their efforts.”
Ashley Aubrey Harrison, vice president, community affairs and CRA manager for Hancock Whitney, said her bank has partnered with Scotlandville Community Development Corporation and other community development organizations to ensure the availability of affordable housing resources and opportunities. “Federal Home Loan Bank of Dallas has been a vital long-term partner for the bank and continues to expand Hancock Whitney’s reach through its community programing,” she said.
Ryan Finnan, consumer and business banking president at Investar Bank, said: “Investar Bank is proud to partner with Pat LeDuff and Scotlandville Community Development in their focus on homeownership. Investar shares the goal of making homeownership affordable and possible for residents of Scotlandville.”
Through the PGP program, FHLB Dallas member institutions contribute from $500 to $4,000 to a community-based organization, and FHLB Dallas matches at a 3:1 ratio. Grants are awarded annually through FHLB Dallas’ member institutions via a lottery system. In 2019, FHLB Dallas awarded $300,000 in PGP funds that were combined with $142,500 contributed by 25 FHLB Dallas member institutions for a total of $442,500 in grants.
“We are proud to help support the important work of the Scotlandville Community Development Corporation as it assists first-time home buyers in the Scotlandville area of Baton Rouge,” said Greg Hettrick, first vice president and director of Community Investment for FHLB Dallas. “By providing a 3:1 match of the initial funding by these three FHLB Dallas member institutions, we were able to increase the total grant amount to $14,000.”
For more information about the 2019 PGP grants and other FHLB Dallas community investment products and programs, please visit fhlb.com/pgp.
About Home Bank N.A.
With 40 locations across South Louisiana and Western Mississippi, Home Bank is committed to serving the needs of its communities. Personal banking has always been Home Bank’s trademark, and that tradition continues as the company grows, invests and serves its clients and community. For more information about Home Bank, visit home24bank.com.
About Hancock Whitney
Since the late 1800s, Hancock Whitney has embodied core values of Honor & Integrity, Strength & Stability, Commitment to Service, Teamwork, and Personal Responsibility. Hancock Whitney offices and financial centers in Mississippi, Alabama, Florida, Louisiana, and Texas offer comprehensive financial products and services, including traditional and online banking; commercial and small business banking; private banking; trust and investment services; healthcare banking; certain insurance services; and mortgage services. The company also operates a loan production office in Nashville, Tennessee, as well as trust and asset management offices in New Jersey and New York. BauerFinancial, Inc., the nation’s leading independent bank rating and analysis firm, consistently recommends Hancock Whitney as one of America’s most financially sound banks. More information is available at hancockwhitney.com.
About Investar Bank
Investar Holding Corporation (NASDAQ: ISTR), parent company of wholly-owned subsidiary Investar Bank, National Association (“Investar”), had total assets of approximately $2 billion as of June 30, 2019. Investar is a full-service community bank headquartered in Baton Rouge, La. offering extensive banking products and services for individuals and businesses for over 10 years. The Bank serves several markets across South Louisiana with 24 branches: the Baton Rouge area (Baton Rouge, Central, Denham Springs, Port Allen, Gonzales, Prairieville, Jackson, Slaughter, St. Francisville, Zachary), Hammond, the Acadiana area (Lafayette, Ville Platte, Mamou, Pine Prairie) and the New Orleans area (Metairie, Elmwood, Mandeville) and three branches in Texas (Houston, Texas City, Dickinson). Investar Bank NMLS ID# 481188. Equal Housing Lender. Member FDIC. To learn more, visit InvestarBank.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 $73.8 billion as of September 30, 2019, is a member-owned cooperative that supports housing and community investment by providing competitively priced loans and other credit products to approximately 815 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.