FOR IMMEDIATE RELEASE
August 31, 2020
Federal Home Loan Bank of Dallas
Presbyterian Night Shelter Receives $750K to Add Capacity
Texas Capital Bank and FHLB Dallas Help Fund Expansion of Men's Homeless Shelter
FORT WORTH, TEXAS, August 31, 2020 – In partnership with Texas Capital Bank, the Federal Home Loan Bank of Dallas (FHLB Dallas) has provided a $750,000 Affordable Housing Program (AHP) grant to expand the capacity of the Presbyterian Night Shelter homeless men's long-term program from 240 to 280.
The shelter, which opened in 1984, is located just east of downtown Fort Worth. It houses 670 men, women and children each night. Over the years, it has added comprehensive case management with the goal of ending homelessness one individual at a time.
"This expansion is critical for us," said Toby Owen, the shelter's chief executive officer. "Despite Presbyterian Night Shelter's significant efforts, the homeless population has continued to grow. The shelter has been operating at or near its capacity for many years. We need extra capacity to keep up with the demand for our services. This grant from Texas Capital and the Federal Home Loan Bank of Dallas provided a significant amount of the nearly $2.5 million budget for the expansion of our men's center, and we greatly appreciate it."
Texas Capital Bank saw a need it could help the shelter address.
"Texas Capital is proud to support Presbyterian Night Shelter in expanding housing services for the most vulnerable populations," said Effie Dennison, executive vice president and director of Community Development for Texas Capital Bank. "It's a life-changing program, and we were only too happy to join with the Federal Home Loan Bank of Dallas to help increase the capacity of their men's center."
AHP funds are intended to assist FHLB Dallas members in financing the purchase, construction and/or rehabilitation of owner-occupied, rental or transitional housing, as well as housing for homeless individuals in their community. AHP funds must be used to benefit households with incomes at or below 80 percent of the median income for the area.
Since the AHP's inception in 1990, FHLB Dallas has awarded more than $300 million in AHP and AHP set-aside program grants and has assisted nearly 54,000 households.
Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas, said he applauded Texas Capital Bank for stepping in to help fund the expansion. "We are glad to join with Texas Capital to help the Presbyterian Night Shelter add capacity at a time when the need for its services is more critical than ever," he said.
For more information about the AHP, visit fhlb.com/ahp.
About Texas Capital Bancshares, Inc.
Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a member of the Russell 2000® Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank, a commercial bank that delivers highly personalized financial services to businesses and entrepreneurs. Headquartered in Dallas, the bank has full-service locations in Austin, Dallas, Fort Worth, Houston and San Antonio.
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 $75 billion as of June 30, 2020, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. Visit fhlb.com for more information.