DALLAS--(BUSINESS WIRE)--The Federal Home Loan Bank of Dallas (FHLB Dallas) recognized two member financial institutions for their commitment to community investment by naming them 2024 Community Area Revitalization Efforts (CARE) Award recipients. Bank of Anguilla in Anguilla, Mississippi, and Arvest Bank, headquartered in Bentonville, Arkansas, were honored today during FHLB Dallas’ annual member conference.
The CARE Award honors each financial institution for its commitment to supporting affordable housing and other community investment programs offered by FHLB Dallas to impact their communities.
Each CARE Award recipient receives a $15,000 donation from FHLB Dallas to provide to a nonprofit or nonprofits of their choice.
Bank of Anguilla was honored for its use of the Small Business Recovery Grant (SBRG) in the wake of a devastating March 2023 tornado that killed 14 people in Rolling Fork, Mississippi, and destroyed much of the small town of 1,800 people. Bank of Anguilla used $1.4 million in FHLB Dallas grants to assist 72 businesses rebuild and recover after the tornado.
“We are humbled and thrilled to receive the CARE Award,” Bank of Anguilla President and CEO Kit McCoy said. “As a community bank that’s been invested in this region for over 100 years, we are fully committed to seeing Rolling Fork rise again after last year’s tornado. It means the world to us that FHLB Dallas is at our side as the rebuilding continues.”
Experience the full story in this video about Bank of Anguilla’s work to assist Rolling Fork in its recovery with the use of the SBRG.
Arvest Bank was honored for its use of several FHLB Dallas’ Community investment programs, including Economic Development Program advances to provide low-cost loans to farmers, ranchers, businesses and public works projects. Arvest has also supported special-needs homeowners through a partnership it established with the city of Little Rock, Arkansas, using the FHLB Dallas’ Special Needs Assistance Program (SNAP). The partnership enables the city to provide critical home rehabilitation such as building wheelchair ramps, making accessibility modifications and replacing roofs for income-qualified homeowners including elderly and disabled homeowners.
Arvest also participates in the Affordable Housing Program to provide funds for multifamily, transitional, homeless and other forms of affordable housing, and it supports veterans and their families through the Housing Assistance for Veterans (HAVEN) program.
“This is what we do. We are active in our communities, supporting economic development and community revitalization,” said Community Bank President for Arvest Matt Smith. “FHLB Dallas programs have helped us in our commitment to serving our communities. It’s a great honor to be recognized for the work we are doing each and every day.”
Experience Arvest Bank’s commitment to the EDP and other FHLB Dallas programs in this video.
“These two members have been exceptional in their commitment to and impact on affordable housing, community investment and economic development,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. “We congratulate them both and look forward to their future involvement in FHLB Dallas community investment programs.”
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 $128.3 billion as of December 31, 2023, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit our website at fhlb.com.
