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  • September 18, 2018

BancorpSouth Bank and FHLB Dallas Award $28K to Benefit Low-Income Residents

Banks Provided Funding to Habitat for Humanity of Walton County

DEFUNIAK SPRINGS, FLORIDA, September 18, 2018 — Habitat for Humanity of Walton County (Habitat) received a $28,000 Affordable Housing Program (AHP) grant from BancorpSouth Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) to assist with construction costs of replacement housing for families living in unsafe conditions. Bank and project representatives gathered for a check presentation today to announce the funds.

Habitat Executive Director Teresa Imdieke said the grant will benefit four families, who can now purchase their Habitat homes at a zero-percent interest rate.

"The grant serves as down payment assistance to bring down the homeowners' mortgage payments," said Ms. Imdieke. "If it wasn't for programs such as the AHP, these families would still be living in unsafe conditions."

Demolition and reconstruction has been completed on two of the four homes. The remaining two homes will be completed in June 2019.  

"There is a great need for affordable housing in the communities in which we live and serve," said Ron Moliterno, BancorpSouth's president of community affairs in Destin, Florida. "Partnering with FHLB Dallas to award this grant to Habitat for Humanity of Walton County is a privilege and allows us to be a part of the solution."

FHLB Dallas annually returns 10 percent of its profits in the form of AHP grants to the communities served by its member institutions such as BancorpSouth Bank. AHP grants fund 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.

Habitat's lower mortgage payments allow residents like Katie Hardwick to live more comfortably and focus on their families. In 2016, the pregnant mother of four and her husband lost their two-bedroom, one-bathroom home in a house fire. Through Habitat, Ms. Hardwick purchased a four-bedroom, two-bathroom home at a zero-percent interest rate.

"This home has changed my life," said Ms. Hardwick. "Families like mine are blessed to have programs like the AHP that make affordable housing accessible."  

In 2017, FHLB Dallas awarded $7 million in grants to 19 affordable housing projects. The grants will help create 1,108 new or rehabilitated housing units. Since the inception of the AHP in 1990, FHLB Dallas has awarded more than $261 million in AHP and AHP-funded grants to assist more than 48,500 families.

"AHP grants provide funding to bring projects like this across the finish line," said Greg Hettrick, FHLB Dallas first vice president and director of Community Investment. "This would not be possible without our partnership with BancorpSouth Bank."

FHLB Dallas is making $14.4 million available through our member institutions in support of affordable housing. AHP funds recipients for 2018 will be announced in October.

About BancorpSouth Bank

BancorpSouth Bank (NYSE: BXS) is headquartered in Tupelo, Mississippi, with approximately $17 billion in assets. BancorpSouth operates approximately 280 full-service branch locations as well as additional mortgage, insurance and loan production offices in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas, including an insurance location in Illinois. BancorpSouth is committed to a culture of respect, diversity and inclusion in both its workplace and communities. To learn more, visit our Community Commitment page at Follow us on Facebook and Twitter (@MyBXS); or connect with us through LinkedIn.

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 $75.9 billion as of June 30, 2018, is a member-owned cooperative that supports housing and community investment by providing competitively priced loans and other credit products to approximately 825 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit

Contact Information:

Corporate Communications
Federal Home Loan Bank of Dallas