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Press Releases

FOR IMMEDIATE RELEASE

November 9, 2018

Contact:

Corporate Communications
Federal Home Loan Bank of Dallas
fhlb.com
(214) 441-8445

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

Grants Will Result in the Creation or Rehabilitation of 1,853 Housing Units

DALLAS, TEXAS, November 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 fhlb.com.

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 fhlb.com.

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