FOR IMMEDIATE RELEASE
February 13, 2018
Federal Home Loan Bank of Dallas
$232K in Grant Funds Rehabilitate Mississippi Transitional Rental Community
BancorpSouth Bank, Trustmark National Bank and FHLB Dallas Provided Funds
JACKSON, MISSISSIPPI, February 13, 2018 — A 25-unit facility for women and children in Jackson, Mississippi, will soon open, thanks to a $212,500 Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Dallas (FHLB Dallas) and BancorpSouth Bank. Local dignitaries and project representatives today attended a check presentation and ribbon cutting event at Jackson Revival Center to announce the funds.
The grant was awarded to the Corporation for Global Community Development (CGCD), which spearheaded the Hearts of Compassion Transitional Housing project, a 25-unit rental community for homeless and at-risk women and their children. The grant provided funding for the rehabilitation of two buildings: one to house single women and a second building to house women and their children. The community will open its doors to residents in July 2018.
CGCD founder and Jackson Revival Center Church senior pastor Jennifer Biard said the rental community will serve a great need in the Jackson community.
"We are so thankful for this grant," said Rev. Biard. "Our goal is to provide a safe and therapeutic environment for our community's homeless and at-risk women and children to heal, obtain gainful employment, receive educational services and behavioral help. As a result, they will be able to lead healthy, productive and fulfilling lives."
The nonprofit outreach arm of the Jackson Revival Center Church, CGCD offers a variety of services, primarily to individuals and families living below the poverty level in Hinds County, Mississippi. These services include the Jackson Revival Center Food Outreach, which serves some 850 families per month. Other programs include annual school-supply drives, free tax-preparation assistance, housing and financial-literacy seminars and college scholarships.
"At BancorpSouth, we are driven in part by a deep commitment to the communities we serve and recognize how beneficial partnerships like this are to those communities," said Joseph Moss, mid-Mississippi division president for BancorpSouth Bank.
Evelyn Edwards, vice president, community development grant specialist and mid-Mississippi community reinvestment specialist at BancorpSouth also added, "This grant will help CGCD make a difference in the Jackson community and we couldn't be more thrilled to see this project to fruition."
In addition, FHLB Dallas partnered with BancorpSouth Bank to award $16,000 in Partnership Grant Program (PGP) funds to the nonprofit, and Trustmark National Bank to award $4,000 for a total award of $20,000. CGCD used the funds for organizational capacity building.
The structure of the PGP allows FHLB Dallas member institutions like BancorpSouth Bank and Trustmark National Bank to make a contribution of $500 to $4,000 to a community-based organization (CBO), which FHLB Dallas will match at a 3:1 ratio.
"At Trustmark, one of our top priorities is to serve the community," said Steffani Jenkins, first vice president and director of Community Development at Trustmark National Bank. "Partnering with FHLB Dallas and BancorpSouth to help CGCD further its mission through the Partnership Grant Program is a privilege."
FHLB Dallas annually returns 10 percent of its profits in the form of AHP grants to the communities served by its member institutions, like BancorpSouth Bank. AHP grants fund 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' community investment programs help our members serve their communities through affordable housing initiatives just like CGCD," said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. "None of this would be possible without our members' tireless commitment to the community."
About BancorpSouth Bank
BancorpSouth Bank (NYSE: BXS) is headquartered in Tupelo, Mississippi, with approximately $17 billion in assets. BancorpSouth operates 276 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. Follow us on Facebook and Twitter (@MyBXS); or connect with us through LinkedIn.
About Trustmark National Bank
Trustmark Corporation is a diversified financial services company headquartered in Jackson, Mississippi, with approximately $13.5 billion in assets and more than 200 locations in Alabama, Florida, Mississippi, Tennessee and Texas. Trustmark provides banking, wealth management and insurance solutions through its subsidiaries, including Trustmark National Bank, Trustmark Investment Advisors, Inc. and Fisher Brown Bottrell Insurance, Inc. Visit trustmark.com for more information.
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 $66.4 billion as of September 30, 2017, is a member-owned cooperative that supports housing and community investment by providing competitively priced loans and other credit products to approximately 840 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.