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Press Release


November 7, 2017


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

Frost Bank Recognized for $8.8 Million to Affordable Housing

CARE Award from FHLB Dallas Honors Two Decades of Support

Frost Bank Web Photo.jpgDALLAS, TEXAS, November 7, 2017 – Frost Bank, a member of the Federal Home Loan Bank of Dallas (FHLB Dallas), was recently honored with FHLB Dallas' 2017 CARE Award. An acronym that stands for "Community Area Revitalization Efforts," the CARE Award recognizes Frost Bank's affordable housing achievements over the past 20 years.

"Frost Bank is committed to making a positive impact on the community through revitalization and partnerships with those who share in our mission," said Donna Normandin, senior vice president and CRA officer at Frost Bank. "Giving back is important to us. It's part of who we are as a company."

In conjunction with the award, FHLB Dallas contributed $7,500 to a community-based organization of Frost Bank's choice. After working with Houston-based nonprofit, Change Happens, for the last eight years, Frost Bank selected the organization to receive the funds because of its Hurricane Harvey relief efforts in the community.


Established in 1989, Change Happens is a 501(c)(3) that provides outreach services to Harris County. Since the inception of the partnership with Change Happens, Frost Bank has donated almost $80,000 and many volunteer hours in support of the nonprofit's mission.

Change Happens CEO and Founder, the Rev. Leslie Smith, said he was thrilled to learn of the unexpected funding, which will be used to further the organization's mission.

"At Change Happens, we work tirelessly to provide services to adults and at-risk youth in Houston with the goal of empowering those individuals to become positive and productive contributors to the community," said Rev. Smith. "The funds from Frost Bank help us further our mission, and we couldn't be more thankful."

Since 1998, Frost Bank has invested more than $8.8 million in Texas communities using FHLB Dallas' Affordable Housing Program (AHP), which assists in the purchase, construction and/or rehabilitation of owner-occupied, rental and transitional housing, as well as other grant programs offered by FHLB Dallas. These programs focus on promoting and strengthening relationships between community-based organizations, small business development, home rehab for special-needs and elderly residents and down payment and closing cost assistance for first-time homebuyers.

"Frost Bank has been a strong contributor to many of the affordable housing and economic development projects in Texas," said Sanjay K. Bhasin, president and CEO of FHLB Dallas. "Congratulations to everyone at Frost Bank on this well-deserved award. It is our distinct honor to partner with them to serve Texans in need."  

FHLB Dallas provides members with grant programs targeted specifically to the needs of low- to moderate-income communities in addition to favorably priced advances (loans) and other banking services.

About Frost Bank

Frost is the banking, investments and insurance subsidiary of Cullen/Frost Bankers, Inc. (NYSE: CFR), a financial holding company with $31 billion in assets at Sept. 30, 2017. One of the 50 largest U.S. banks by asset size, Frost provides a full range of banking, investments and insurance services to businesses and individuals in the Austin, Corpus Christi, Dallas, Fort Worth, Houston, Permian Basin, Rio Grande Valley and San Antonio regions. Founded in 1868, Frost has helped Texans with their financial needs during three centuries. For more information, visit

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