- August 31, 2022
DALLAS, TEXAS, August 31, 2022 – Nearly $559,000 in funding was awarded to 38 community-based organizations (CBOs) by the Federal Home Loan Bank of Dallas (FHLB Dallas) and its members. FHLB Dallas members provided $158,895 in funding, and FHLB Dallas contributed another $400,000 in match-funding through its Partnership Grant Program (PGP).
Through this unique program, FHLB Dallas member institutions contribute $500 to $4,000 to a CBO, a 501(c)(3) nonprofit, which FHLB Dallas matches at a 3:1 ratio to provide the CBO up to $12,000 per member. PGP grants are awarded annually through FHLB Dallas’ member institutions. The awards help promote and strengthen relationships between CBOs and FHLB Dallas members.
“The Partnership Grant Program helps communities become stronger by giving our members the leverage needed to support their local organizations,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. “We’re proud to match these important funds from our members that impact thousands of lives each day through the work of nonprofits.”
Among participating members in the program are FBT Bank & Mortgage, Fordyce, Arkansas; First National Bank of Louisiana, Crowley, Louisiana; BankPlus, Jackson, Mississippi; Lea County State Bank, Hobbs, New Mexico; and Veritex Community Bank, Dallas, Texas.
Here’s what these members had to say about PGP’s impact:
“We are thrilled to be a first-time participant in the PGP. We have participated in other FHLB Dallas community investment programs, and we were looking for additional outreach opportunities.”
— Daniel Pledger, vice president at FBT Bank & Mortgage, Fordyce, Arkansas
“We’ve seen first-hand how this grant program has positively impacted community organizations. FHLB Dallas and the PGP have played key roles in helping us build relationships with our community partners.”
— Cindy Miller, COO, First National Bank of Louisiana, Crowley, Louisiana
“The PGP allows funds to be used for administrative and operational expenses, and there are few sources of funding that fill these particular funding gaps for community organizations; we’d like to thank FHLB Dallas for this great partnership that allows us to leverage our resources to help local organizations.”
— Mark Ouellette, first vice president, BankPlus, Jackson, Mississippi
“We pride ourselves on investing in our communities, and the PGP is a way to make a positive difference. It is a privilege to partner with FHLB Dallas on this program.”
— Dickie Wall, senior vice president, Lea County State Bank, Hobbs, New Mexico
“The PGP offers a great opportunity to optimize the funds we are giving. We are honored to partner with FHLB Dallas on this funding.”
— Will Holford, director of strategic corporate development, Veritex Community Bank, Dallas, Texas
The PGP may be used for:
- Organizational capacity building
- Assistance with applying for grants and other funding sources
- Research and studies
- Contractual services
- General operating expenses
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 $77.7 billion as of June 30, 2022, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit our website at fhlb.com.
Federal Home Loan Bank of Dallas