FHLB Dallas and First National Bank Texas Celebrate Revitalization of Affordable Single-Family Homes in Laguna, New Mexico

LAGUNA, N.M.--(BUSINESS WIRE)--The Federal Home Loan Bank of Dallas (FHLB Dallas), First National Bank Texas (FNBT) and The Laguna Housing Development and Management Enterprise (LHDME) celebrated today the revitalization and grand opening of Laguna #4, an affordable housing community of single-family homes. This revitalization was made possible, in part, by a $1 million Affordable Housing Program (AHP) grant from FHLB Dallas, awarded through FNBT, an FHLB Dallas member.

The project builds on the success of Laguna #1, originally constructed in 2005 through low-income housing tax credit (LIHTC) financing. Laguna #4 includes 19 two-bedroom homes, 19 three-bedroom homes and two four-bedroom homes, totaling 40 single-family units.

“This development represents our continued commitment to preserving quality, affordable housing for Pueblo families on tribal land in the Pueblo of Laguna, New Mexico,” said LHDME Executive Director Jamie Navenma. “With this rehabilitation, we’re ensuring that families who have lived here for decades can remain in their homes.”

AHP grants are disbursed through FHLB Dallas member institutions to help finance the purchase, construction or rehabilitation of owner-occupied, rental or transitional housing.

“The FHLB Dallas AHP grant helps us strengthen housing initiatives in our communities,” said FNBT Community Development Manager Jeremy Munden. “By modernizing these homes and expanding neighborhood amenities, this project helps ensure Pueblo families can continue building their lives in a place they’re proud to call home.”

FHLB Dallas awarded $73.5 million through the AHP General Fund in 2025.

“The Laguna #4 renovation shows how strategic investment in existing housing can strengthen a community from within,” said Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas. “By upgrading these homes and supporting essential neighborhood amenities, this development helps ensure long-term stability and opportunity for families in the Pueblo of Laguna.”

Learn more about the FHLB Dallas Affordable Housing Program.

About First National Bank Texas

First National Bank Texas (FNBT) and its divisions First Convenience Bank, First Community Mortgage and First Heroes National Bank, remain dedicated to building strong financial futures for our customers, employees and the communities that we serve. Our bank was originally founded in 1901 in the Central Texas town of Killeen, only 19 years after the city was established. From our humble beginnings, we have grown to over $4.5 billion in assets and now operate over 350 branches located throughout Texas, Arizona, Arkansas and New Mexico.

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 $97.1 billion as of March 31, 2026, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 780 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.