FOR IMMEDIATE RELEASE
September 10, 2019
Federal Home Loan Bank of Dallas
Texas Nonprofit Receives $10K in Funds to Advance Community Revitalization
CommunityBank of Texas, Allegiance Bank and FHLB Dallas Partner to Provide Funds
BEAUMONT, TEXAS, September 10, 2019 — HELBIG Community Development Corporation (HCDC) yesterday received $10,000 in Partnership Grant Program (PGP) funds from CommunityBank of Texas, Allegiance Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) at a check presentation in Beaumont, Texas.
The funds will help the nonprofit – which develops programs to revitalize communities in southeast Texas – offset operating and administrative expenses, sponsor program-related events and hire grant writing consultants.
Airon Reynolds, executive director of the organization, said the funds will help HCDC continue to ignite positive change in the community. This is the organization's first PGP award.
"Our mission is to alleviate poverty and restore hope to residents in the communities we serve," said Dr. Reynolds. "This grant is important because it affords us the opportunity to operate and to assist in applying for grants and training that is needed to assist our community."
Through the PGP, FHLB Dallas member institutions, like CommunityBank of Texas and Allegiance Bank, contribute $500 to $4,000 to a community-based organization (CBO), which FHLB Dallas matches at a 3:1 ratio. This year, FHLB Dallas awarded $300,000 in PGP funds through 25 member institutions to assist 27 CBOs. Combined with FHLB Dallas member contributions, a total of $442,500 has been awarded to the organizations.
"The PGP aligns with Allegiance Bank's mission, of which a large part is to make a positive impact in the community in which we live and serve," said Marcus Vasquez, vice president and fair banking officer at Allegiance Bank. "We value the collective efforts of our partners like FHLB Dallas to improve the community."
Brandi Gregg, executive vice president and chief compliance officer at CommunityBank of Texas, said the PGP's 3:1 match is a unique feature and of great benefit to the community.
"The PGP is the grant program that keeps on giving," said Ms. Gregg. "Its matching feature extends the benefits of the funds and the partnership aspect strengthens communities."
Greg Hettrick, FHLB Dallas first vice president and director of Community Investment, said progress starts with partnerships.
"The first step to impacting positive change is partnership," said Mr. Hettrick. "Without our members' partnership, this wouldn't be possible."
To learn more about the PGP, visit fhlb.com/pgp.
About CommunityBank of Texas
CommunityBank of Texas, N.A. is an independent, Texas-owned bank with assets in excess of $2.8 billion. Established in 2007, the bank has 37 branches and is the largest independent community bank headquartered in and focused on the financial needs of Houston and Southeast Texas. For information about CommunityBank of Texas, N.A., visit communitybankoftx.com.
About Allegiance Bancshares
Allegiance Bancshares, Inc. is a Houston, Texas-based bank holding company. Through its wholly owned subsidiary, Allegiance Bank (the Bank), provides a diversified range of commercial and consumer banking services primarily to Houston metropolitan area-based small to medium-sized businesses and individual customers. In addition to banking during normal business hours, the Company offers extended drive-in hours, automated teller machines (ATMs) and banking by telephone, mail and Internet.
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 $74.5 billion as of June 30, 2019, is a member-owned cooperative that supports housing and community investment by providing competitively priced loans and other credit products to approximately 810 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.