TUPELO, Miss.--(BUSINESS WIRE)--BancorpSouth Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) are providing $225,890 in Partnership Grant Program (PGP) awards to 19 community-based organizations involved in housing and community services.
PGP grants help qualified nonprofit organizations fund a variety of administrative activities that are critical to serving their communities.
The banks awarded grants that ranged in size from $6,000 to $30,000 with the largest grant ($30,000) awarded to Restoration Home in Jackson, which provides comprehensive services to people recovering from alcohol or drug addiction, including transitional housing, counseling, job assistance and educational services.
Nonprofits receiving funding also included four Habitat for Humanity entities: Hernando-DeSoto, Jonesboro, Starkville and Texarkana.
“We are thrilled to provide funding to so many organizations that have helped our communities grow and prosper by providing critical affordable housing options for citizens in many of the communities where BancorpSouth serves,” said BancorpSouth Chairman and CEO Dan Rollins.
Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas, said BancorpSouth’s response has been nothing short of remarkable.
“BancorpSouth really went above and beyond by reaching out to 19 entities that will benefit from its generosity,” Mr. Hettrick said. “We are thankful for their partnership in this worthy endeavor to provide affordable housing.”
The following nonprofits also received funding:
- Arkansas: University District Development Corp. in Little Rock;
- Louisiana: The Fuller Center for Housing of New Iberia in New Iberia, Mount Pleasant Community Development Corp. in Monroe and The Fuller Center for Housing of Northwest Louisiana in Shreveport;
- Mississippi: Housing, Education and Economic Development and Voice of Calvary Ministries both in Jackson, LOU-HOME Inc. in Oxford, MadCAAP (Madison Countians Allied Against Poverty) in Canton, Mercy Housing and Human Development in Gulfport, Minority PUL Alliance in Tupelo, R3SM, Inc. in Hattiesburg, and Sacred Heart Southern Missions in Walls;
- Texas: Lufkin Neighborhood STRONG in Lufkin and Community Outreach Housing in Carrollton.
Funding under FHLB Dallas’ PGP was increased by $2 million in 2020 under FHLB Dallas’ COVID-19 Relief Program to support community-based organizations (CBO) involved in affordable housing activities, stimulating small business development or providing small businesses with technical assistance.
The use of funds for these organizations was expanded to include COVID-19 relief. Through this unique grant program, FHLB Dallas member institutions contribute $500 up to $6,000 to a CBO, which FHLB Dallas matches at a 5:1 ratio (previously a 3:1 ratio) to provide the CBO up to $30,000 per member and $60,000 per year in grant money. Grants are awarded annually through FHLB Dallas’ member institutions via a lottery system.
About BancorpSouth Bank
BancorpSouth Bank (NYSE: BXS) is headquartered in Tupelo, Mississippi, with approximately $21 billion in assets. BancorpSouth operates approximately 310 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 $83.8 billion as of March 31, 2020 is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 805 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. Visit fhlb.com for more information.