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Press Releases

FOR IMMEDIATE RELEASE

October 20, 2017

Contact:

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

Federal Home Loan Bank of Dallas Awards $7 Million in Affordable Housing Grants

Grants Will Result in the Creation or Rehabilitation of 1,108 Housing Units

DALLAS, TEXAS, October 20, 2017 – The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce that, in partnership with its member financial institutions, it has awarded $7 million in Affordable Housing Program (AHP) grants to 19 projects in Arkansas, Louisiana, Mississippi and Texas, which will result in the creation or rehabilitation of 1,108 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' member institutions serve their communities well through active involvement in affordable housing development," said FHLB Dallas President and CEO Sanjay Bhasin. "Their membership in FHLB Dallas provides a bridge to the AHP and other grant programs that annually provide millions of dollars for housing in our District."

Below is the complete, state-by-state list of the 2017 AHP grant recipients. For more information about the 2017 AHP grants and other FHLB Dallas community investment products and programs, please visit fhlb.com.

Arkansas $429,000 for 42 units

Little Rock

Member: BancorpSouth Bank

Sponsor: Feed Arkansas Kids

Grant: $189,000 for 18 Rental units

 

Mulberry

Member: Arvest Bank

Sponsor: Regional Housing Solutions

Grant: $240,000 for 24 Rental units

 

Louisiana $1,676,516 for 113 units

Alexandria

Member: Red River Bank

Sponsor: GAEDA Revitalization Corporation

Grant: $339,876 for 50 Owner units

 

Boyce

Member: Red River Bank

Sponsor: St. Mary's Residential Training School

Grant: $450,000 for 48 Rental units

 

Houma

Member: Synergy Bank

Sponsor: Options for Independence

Grant: $500,000 for 5 Rental units

 

Member: Synergy Bank

Sponsor: MacDonell Children's Services

Grant: $386,640 for 10 Rental units

 

Mississippi $1,483,000 for 231 units

Canton

Member: BankPlus

Sponsor: Madison Countians Allied Against Poverty

Grant: $70,000 for 10 Owner units

 

Gulfport

Member: The Peoples Bank

Sponsor: Gulf Coast Housing Partnership

Grant: $500,000 for 80 Rental units

 

Jackson

Member: BankPlus

Sponsor: Habitat for Humanity Mississippi Capital Area

Grant: $175,000 for 25 Owner units

 

Laurel

Member: The First, A National Banking Association

Sponsor: Laurel Housing Authority

Grant: $488,000 for 72 Owner units

 

Vicksburg

Member: BancorpSouth Bank

Sponsor: Vicksburg Housing Authority

Grant: $250,000 for 44 Rental units

 

Texas $3,419,168 for 722 units

Austin

Member: Frost Bank

Sponsor: The Salvation Army

Grant: $500,000 for 203 Rental units

 

Member: Frost Bank

Sponsor: Accessible Housing Austin

Grant: $189,000 for 27 Rental units

 

Azle

Member: Frost Bank

Sponsor: Adult & Teen Challenge of Texas

Grant: $500,000 for 48 Rental units

 

Dallas

Member: Frost Bank

Sponsor: St. Jude Inc.

Grant: $500,000 for 100 Rental units

 

Houston

Member: Texas Capital Bank, N.A.

Sponsor: Star of Hope Mission

Grant: $500,000 for 180 Rental units

 

Killeen

Member: Home Federal Bank

Sponsor: Killeen Housing Authority

Grant: $500,000 for 76 Rental units

 

Plano

Member: Guaranty Bank & Trust, N.A.

Sponsor: Plano Housing Corporation

Grant: $300,000 for 40 Rental units

 

Tyler

Member: Austin Bank, Texas N.A.

Sponsor: Hiway 80 Rescue Mission

Grant: $430,168 for 48 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 $62.9 billion as of June 30, 2017, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 850 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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