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  • July 20, 2020

$30K Grant to LOU-HOME to Support Affordable Housing Initiatives

FNB Oxford Bank, Oxford University Bank and FHLB Dallas Provide the Grant

OXFORD, MISSISSIPPI, July 20, 2020 – FNB Oxford Bank (FNB), Oxford University Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) are pleased to award $30,000 in Partnership Grant Program (PGP) funds to LOU-HOME, a nonprofit that provides affordable housing opportunities in Lafayette, Oxford and University, Mississippi.

PGP grants help qualified nonprofit organizations fund a variety of operational and administrative activities that are critical to serving their communities.

LOU-HOME provides affordable housing opportunities through innovative approaches. Its first major achievement was a 24-home single-family housing development for low-income buyers in which the city of Oxford donated land and the University of Mississippi donated surplus houses that were moved to the land and renovated. They were sold primarily to low-income buyers at lower-than-market prices. More recently, it partnered with a local developer to produce Belle Rivers, a tax-credit supported complex with 48 three-bedroom homes reserved for households earning 60 percent of the area median income or less.

"We plan to use most or all of the grant funds to offset the costs of our new housing counselor, whose services are provided for free to our clients," said Fred Laurenzo, chief administrative officer at LOU-HOME. The nonprofit's board has also decided it is time for the largely volunteer organization to search for its first full-time paid director.

Oxford University Bank President and CEO David Guyton said the grants will allow LOU-HOME to build for the future.

"The coronavirus pandemic has made providing affordable housing assistance and financial education for prospective homeowners more complicated and, as a result, these grant funds are more important than ever," Mr. Guyton said. "Oxford University Bank is pleased to be able to assist the good work underway by LOU-HOME."

At FNB, President and CEO John Barrett said LOU-HOME has helped dozens of area residents reach the American Dream of homeownership.

"Research shows homeownership plays a vital role in helping to build strong, stable communities, and we are thankful for the work that LOU-HOME is doing in and around Oxford," Mr. Barrett said.

Funding under FHLB Dallas' PGP was increased by $2 million in 2020 under FHLB Dallas' COVID-19 Relief Program to support CBOs involved in affordable housing activities, stimulating small business development or providing small businesses with technical assistance. The use of funds for these organizations was expanded to include COVID-19 relief.

Through this unique grant program, FHLB Dallas member institutions contribute from $500 to $6,000 to a CBO, which FHLB Dallas matches at a new, higher 5:1 ratio (compared to the previous 3:1 ratio) resulting in a match of up to $30,000. If multiple member institutions contribute to the same CBO in one year, the maximum FHLB Dallas match for those member contributions is $60,000 per year. In both cases, the total grant to the CBO would be the sum of the member contribution(s) plus the FHLB Dallas match. Grants are awarded annually through FHLB Dallas and its member institutions.  

See the complete list of the 2020 PGP grant recipients. For more information about the 2020 PGP grants and other FHLB Dallas community investment products and programs, please visit

"We are thankful for our partnerships with FNB and Oxford University Bank, which are making a difference in the lives of people living in Oxford and surrounding communities," said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas.

About FNB Oxford Bank

FNB Oxford Bank, originally founded as First National Bank of Oxford in 1910, is headquartered on the historic Square in Oxford, Mississippi. As a community bank, FNB has assets of over $400 million and serves its customers in five locations in Northern Mississippi including branches in Oxford and Tupelo. For more information, visit

About Oxford University Bank

Oxford University Bank was founded in 2000 to make a difference in the delivery of exceptional and personal service in the Lafayette, Pontotoc and surrounding county markets. We offer a special First Time Homebuyer Loan Program that started in 2020 with great success. It is our hope that many more of our citizens can reap the benefits of home ownership. 

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 $83.8 billion as of March 31, 2020 is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 805 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. Visit for more information.

Contact Information:

Corporate Communications
Federal Home Loan Bank of Dallas