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Federal Home Loan Bank of Dallas Awards $14 Million in Affordable Housing Grants

November 9, 2018

DALLAS--(BUSINESS WIRE)--Nov 9, 2018--The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce that, in partnership with its member financial institutions, it has awarded $14 million in Affordable Housing Program (AHP) grants to 29 projects in Arkansas, Louisiana, Mississippi, New Mexico and Texas, which will result in the creation or rehabilitation of 1,853 housing units.

FHLB Dallas annually returns 10 percent of its profits in the form of AHP grants to the communities served by its member institutions. AHP funding is utilized for a variety of projects, including home rehabilitation and modifications for low-income, elderly and special-needs residents; down payment and closing-cost assistance for qualified first-time homebuyers; and the construction of low-income, multifamily rental communities and single-family homes.

“FHLB Dallas’ AHP provides millions of dollars for housing in our District, which our member institutions use to develop and support their communities,” said FHLB Dallas President and CEO Sanjay Bhasin. “It is our privilege to provide a program through which our members can positively impact their communities.”

Since the AHP’s inception in 1990, FHLB Dallas has awarded more than $261 million in AHP and AHP set-aside programs, such as Homebuyer Equity Leverage Partnership and Special Needs Assistance Program, have assisted more than 48,500 households.

Texas Capital Bank was recently recognized by FHLB Dallas for its commitment to community investment. The bank has utilized more than $7 million in FHLB Dallas program funds for its community.

“One of the things we love about utilizing the programs that the Federal Home Loan Bank of Dallas offers is that we’re able to leverage resources and help organizations make an even greater impact in our community,” said Jenny Leighton-Guzman, vice president at Texas Capital Bank.

Following is the complete, state-by-state list of the 2018 AHP grant recipients. For more information about the 2018 AHP grants and other FHLB Dallas community investment products and programs, please visit .

Arkansas $536,250 for 39 units

Alma Member: BancorpSouth Bank Sponsor: Stepping Stone School for Exceptional Children Grant: $296,250 for 15 Rental units

Fort Smith Member: Simmons Bank Sponsor: Children’s Emergency Shelter Grant: $240,000 for 24 Rental units

Louisiana $4,688,000 for 319 units

Bastrop Member: Woodforest National Bank Sponsor: BDT Housing Services Enterprise Grant: $200,000 for 20 Rental units

Boyce Member: Red River Bank Sponsor: St. Mary’s Residential Training School Grant: $738,000 for 72 Rental units

Franklin Member: Home Bank, N.A. Sponsor: Gulf Coast Housing Partnership Grant: $750,000 for 60 Rental units

Houma Member: Synergy Bank Sponsor: Options for Independence Grant: $750,000 for 7 Rental units

Member: Pedestal Bank Sponsor: Start Corporation Grant: $750,000 for 8 Rental units

New Orleans Member: Fifth District Savings Bank Sponsor: Odyssey House Louisiana Grant: $750,000 for 52 Rental units

St. Martinville Member: Home Bank, N.A. Sponsor: Gulf Coast Housing Partnership Grant: $750,000 for 100 Rental units

Mississippi $6,198,810 for 897 units

Bay St. Louis Member: BancorpSouth Bank Sponsor: Habitat for Humanity Bay Waveland Area Grant: $136,850 for 14 Owner units

Member: Renaissance Commercial Loan Fund, Inc. Sponsor: Hancock Resource Center Grant: $700,000 for 70 Rental units

Bolton Member: BancorpSouth Bank Sponsor: Town of Bolton Development Corporation Grant: $390,000 for 40 Rental units

Jackson Member: BancorpSouth Bank Sponsor: Corporation for Global Community Development Grant: $210,000 for 14 Rental units

Laurel Member: The First, a National Banking Association Sponsor: Laurel Housing Authority Grant: $375,000 for 38 Owner units

Member: The First, a National Banking Association Sponsor: LHA Enterprise Development LLC Grant: $750,000 for 124 Rental units

Member: Trustmark National Bank Sponsor: Home Again, Inc. Grant: $750,000 for 100 Rental units

Lexington Member: BankPlus, NA Sponsor: Community Students Learning Center Grant: $745,200 for 75 Owner units

Lucedale Member: Community Bank of Mississippi Sponsor: George/Greene Habitat for Humanity Grant: $120,000 for 12 Owner units

Mound Bayou Member: Guaranty Bank & Trust Company Sponsor: Mound Bayou Housing Authority Grant: $375,000 for 50 Owner units

Natchez Member: Tensas State Bank Sponsor: New Hope Missionary Baptist Church Grant: $266,760 for 29 Rental units

Vicksburg Member: BancorpSouth Bank Sponsor: City of Vicksburg Grant: $130,000 for 13 Owner units

Member: BancorpSouth Bank Sponsor: City of Vicksburg Grant: $100,000 for 10 Owner units

Waveland Member: The First, a National Banking Association Sponsor: Hancock Resource Center Grant: $400,000 for 40 Owner units

Yazoo City Member: Bank of Yazoo City Sponsor: Yazoo City Housing Authority Grant: $750,000 for 268 Rental units

New Mexico $420,000 for 42 units

Albuquerque Member: Wells Fargo Bank South Central Sponsor: St. Martin’s Hospitality Center Grant: $420,000 for 42 Rental units

Texas $2,302,000 for 556 units

Gregory Member: Home Federal Bank Sponsor: Gregory Housing Authority Grant: $580,000 for 58 Rental units

Houston Member: Texas Capital Bank, N.A. Sponsor: Harmony House, Inc. Grant: $750,000 for 128 Rental units

Member: Texas Capital Bank, N.A. Sponsor: Star of Hope Mission Grant: $222,000 for 328 Rental units

Magnolia Member: Frost Bank, N.A. Sponsor: Adult and Teen Challenge of Texas Grant: $750,000 for 42 Rental units

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 $73.7 billion as of September 30, 2018, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 825 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit our website at .

View source version on businesswire.com:https://www.businesswire.com/news/home/20181109005574/en/

CONTACT: Federal Home Loan Bank of Dallas

Corporate Communications, 214-441-8445

fhlb.com

KEYWORD: UNITED STATES NORTH AMERICA ARKANSAS LOUISIANA MISSISSIPPI NEW MEXICO TEXAS

INDUSTRY KEYWORD: PHILANTHROPY PROFESSIONAL SERVICES BANKING OTHER PHILANTHROPY CONSTRUCTION & PROPERTY RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: Federal Home Loan Bank of Dallas

Copyright Business Wire 2018.

PUB: 11/09/2018 04:26 PM/DISC: 11/09/2018 04:26 PM

http://www.businesswire.com/news/home/20181109005574/en

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