FOR IMMEDIATE RELEASE
September 12, 2017
Federal Home Loan Bank of Dallas
Habitat for Humanity of Independence County Awarded Grant
Funds from FHLB Dallas and First Community Bank to Support Staffing
BATESVILLE, ARKANSAS, September 12, 2017 — The sale of second-hand treasures, clothing and home décor annually helps to fund the building of a home by Habitat for Humanity of Independence County, Arkansas (Habitat affiliate). Thanks to an $8,000 Partnership Grant Program (PGP) award, the home store at 85 Batesville Boulevard, Suite A, in Batesville, Arkansas, will hire an additional part-time employee to keep up with demand.
Shalyn Carlile, the Habitat affiliate's executive director, accepted the PGP grant from the Federal Home Loan Bank of Dallas (FHLB Dallas) and First Community Bank, an FHLB Dallas institution.
"When we have staffing shortages, it becomes nearly impossible to keep up with incoming donations and to keep the store looking nice and neat," Ms. Carlile explained. "Our storage room can quickly become packed with things that the staff just doesn't have time to handle. Without extra funding to add to our staffing needs, I worry that our store would quickly fall behind in both processing and appearance."
The store currently is staffed by three part-time employees of the Habitat affiliate and two part-time staffers funded by the National Caucus and Center on Black Aging (NCBA). The PGP grant will create the Habitat affiliate's fourth part-time position, bringing the store's total staff to six employees.
The grant marks the third PGP award from First Community Bank and FHLB Dallas to the Habitat affiliate. Previous PGP grants, each for $15,000, were awarded in 2012 and 2014. The 2012 award created the nonprofit's first paid executive director position. The 2014 grant was used to offset operational expenses, allowing the Habitat affiliate to open its store that same year.
"Habitat for Humanity of Independence County greatly contributes to the well-being of our community," said Boris Dover, president and COO of First Community Bank. "We were honored to be selected this year for a PGP grant to our local Habitat affiliate because we know the difference the funds can make for the nonprofit and ultimately, for our citizens."
PGP grants are offered once a year through FHLB Dallas' member institutions via a lottery system. The PGP awards provide grants up to $12,000 to community-based organizations (CBOs). The funds may be used for research, organizational capacity-building, grant- and funding-application assistance, or contractual services. Through PGP awards, FHLB Dallas matches a member's contribution to a CBO of $500 up to $4,000 at a 3:1 ratio.
Bruce Hatton, vice president and Affordable Housing Program manager at FHLB Dallas, said the connections strengthened by the PGP serve communities well.
"We applaud the partnership between First Community Bank and Habitat for Humanity of Independence County," Mr. Hatton said. "By keeping the store operating efficiently, the Habitat affiliate can earn greater profits and fund its homebuilding projects. It's truly a win-win situation for everyone."
In 2017, FHLB Dallas awarded $300,000 in Partnership Grant Program (PGP) funds through 31 member institutions to assist 30 community-based organizations. Combined with the $104,550 contributed by FHLB Dallas members, a total of $404,550 was awarded to the organizations.
To learn more about the Partnership Grant Program or other Community Investment programs from FHLB Dallas, visit www.fhlb.com/community
About First Community Bank
First Community Bank, which is locally owned and managed, opened August 4, 1997, in Batesville, Arkansas, and operates 20 full-service branches in Arkansas and Missouri. First Community employs more than 300 professional bankers and reports assets of more than $1.2 billion as of December 31, 2016.
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 investment 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 fhlb.com.