FHLB Dallas, American First National Bank, Cadence Bank, Independent Financial and Inwood Bank Celebrate Awarding $80K in Grants to Three Dallas-Area Nonprofits

Rhea-AI Summary

Federal Home Loan Bank of Dallas (FHLB Dallas) Partnership Grant Program Provides 3:1 Match of Members’ Donations. Representatives from FHLB Dallas and its members awarded $80,000 in Partnership Grant Program (PGP) funds to three Dallas-area community-based organizations (CBOs) to assist them with operational and administrative costs. The PGP allows FHLB Dallas member institutions to contribute $500 to $4,000 to a nonprofit, which FHLB Dallas matches at a 3:1 ratio to provide up to $12,000 to the organization per member. The PGP helps promote and strengthen relationships between community-based nonprofits and FHLB Dallas members.

FHLB Dallas’ Partnership Grant Program Provides 3:1 Match of Members’ Donations

DALLAS--(BUSINESS WIRE)-- Representatives from the Federal Home Loan Bank of Dallas (FHLB Dallas), American First National Bank, Cadence Bank, Independent Financial and Inwood Bank were joined by local dignitaries as they awarded $80,000 in Partnership Grant Program (PGP) funds to three Dallas-area community-based organizations (CBOs). The funds will assist the organizations with operational and administrative costs allowing them to focus on their missions to preserve housing affordability in the Dallas, Texas, area.

Representative Venton Jones, Texas District 100, Texas House of Representatives (second from left), joined by executives from FHLB Dallas (extreme left and right) and its member Independent Financial (third and fourth from left), along with executives from Rockwall Housing Development Corp. and South Dallas Fair Park Innercity Community Development Corp. (Photo: Business Wire)

“The Partnership Grant Program is a great example of how FHLB Dallas and its members improve the capacity of community-based organizations to provide access and education to those most in need of affordable housing,” said State Representative Venton Jones, House District 100, Texas House of Representatives.

Through the PGP, FHLB Dallas member institutions contribute $500 to $4,000 to a nonprofit, which FHLB Dallas matches at a 3:1 ratio to provide up to $12,000 to the organization per member. The awards help promote and strengthen relationships between community-based nonprofits and FHLB Dallas members.

Here are the awards:

Member: Independent Financial
Sponsor: South Dallas Fair Park Innercity Community Development Corp.
Grant: $16,000

Member: American First National Bank
Sponsor: SouthFair Community Development Corp.
Grant: $16,000

Member: Cadence Bank
Sponsor: SouthFair Community Development Corp.
Grant: $16,000

Member: Independent Financial
Sponsor: Rockwall Housing Development Corp.
Grant: $16,000

Member: Inwood Bank
Sponsor: Rockwall Housing Development Corp.
Grant: $16,000

FHLB Dallas member Independent Financial has used the PGP to deliver more impact for every dollar it donates. “We are incredibly grateful for the partnership with FHLB Dallas and the ability to increase the impact in our communities by tripling financial support to organizations doing vital work,” said Kelli Diserens, senior vice president, director of Community Investment at Independent Financial.

Two of the three CBOs – South Dallas Fair Park Innercity Community Development Corp. (ICDC) and Rockwall Housing Development Corp. – received a $16,000 PGP award via Independent Financial.

“The PGP award will allow our organization to hire additional staff for the ICDC Homebuyer’s Workshops, which educate first-time homebuyers on affordable housing options,” said Billy Lane, executive director of South Dallas Fair Park ICDC.

Speaking at the event, Rockwall Housing Development Corp. Executive Director Michael Hunter said, “We greatly appreciate the Federal Home Loan Bank of Dallas and their Partnership Grant Program as well as Independent Financial Bank and Inwood Bank in helping us bring more affordable housing to our Northeast Texas region.”

Rockwall Housing Development Corp. received another PGP award via Inwood Bank. “We are so appreciative to FHLB Dallas for their assistance in helping people afford housing,” said Roger McLaren, vice president at Inwood Bank. “The best way to combat generational poverty is homeownership.”

SouthFair Community Development Corp. also received two $16,000 grants – one from American First National Bank and another from Cadence Bank. “Support from the Federal Home Loan Bank’s Partnership Grant Program and its member banks, American First National Bank and Cadence Bank, allows us to push forward and do what we do best — support the community in its revitalization efforts,” said Executive Director Annie Evans.

Michael Bailey, chief compliance officer at American First National Bank, said the PGP is an important collaboration tool between FHLB Dallas members and their communities. “PGP funds are a catalyst for community development and a beacon of cooperative effort between nonprofits, FHLB Dallas members and FHLB Dallas,” he said.

Jim Habern, market president at Cadence Bank, said that they are proud of their continued partnership with FHLB Dallas and the PGP program. “We believe strongly in investing in our community,” he said.

FHLB Dallas President and CEO Sanjay Bhasin discussed the value of the PGP. “With its 3:1 matching grant, the PGP allows us to demonstrate that we care for and support the causes that are critical to our member financial institutions and their communities,” said Mr. Bhasin.

View this PGP video to see a complete list of the 2023 PGP grant recipients. For more information about the 2023 PGP grants and other FHLB Dallas community investment products and programs, please visit fhlb.com/pgp.

About American First National Bank

American First National Bank is an Asian-American owned National Bank, with reported total assets exceeding $2.548 billion as of June 30, 2023, and full FDIC insurance coverage, headquartered in Houston, Texas. Formed by six organizers in August 1997, it opened for business on May 18, 1998. Its Corporate Office is located at 9999 Bellaire Blvd., near the southeast corner of the intersection on Beltway 8 and Bellaire Blvd. in Houston.

About Cadence Bank

Cadence Bank (NYSE: CADE) is a leading regional banking franchise with approximately $50 billion in assets and more than 400 branch locations across the South, Midwest and Texas. Cadence provides consumers, businesses and corporations with a full range of innovative banking and financial solutions. Services and products include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialized lending, asset-based lending, commercial real estate, equipment financing, correspondent banking, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning and retirement plan management. Cadence is committed to a culture of respect, diversity and inclusion in both its workplace and communities. Cadence Bank, Member FDIC. Equal Housing Lender.

About Independent Bank Group, Inc.

Independent Bank Group, Inc. is a bank holding company headquartered in McKinney, Texas. Through its wholly owned subsidiary, Independent Bank, doing business as Independent Financial, Independent Bank Group serves customers across Texas and Colorado with a wide range of relationship-driven banking services tailored to meet the needs of businesses, professionals and individuals. Independent Bank Group, Inc. operates in four market regions located in the Dallas/Fort Worth, Austin and Houston areas in Texas and the Colorado Front Range area, including Denver, Colorado Springs and Fort Collins.

About Inwood Bank

Inwood Bank is an independent, locally owned, community bank with fourteen (14) banking offices located throughout North Texas. In addition to our main office at 7621 Inwood Road, we have additional branches in the Oaklawn, Galleria and Pleasant Grove areas, as well as branches in the communities of Commerce, Denton, DeSoto, Duncanville, Fort Worth, Garland, Richardson, Rockwall, Rowlett, and Wylie. Inwood has grown from its beginning in 1964 to one of the largest independent community banks in Dallas--today over $4 Billion and one of the strongest institutions in Texas.

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 $147.6 billion as of September 30, 2023, 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231115381719/en/

Corporate Communications

Federal Home Loan Bank of Dallas

fhlb.com, (214) 441-8445

Source: Federal Home Loan Bank of Dallas

FAQ

What is the FHLB Dallas Partnership Grant Program about?

The FHLB Dallas Partnership Grant Program provides a 3:1 match of members’ donations to community-based organizations (CBOs) to assist them with operational and administrative costs.

How does the PGP work?

FHLB Dallas member institutions contribute $500 to $4,000 to a nonprofit, which FHLB Dallas matches at a 3:1 ratio to provide up to $12,000 to the organization per member.

Which organizations received the PGP funds?

The South Dallas Fair Park Innercity Community Development Corp., SouthFair Community Development Corp., and Rockwall Housing Development Corp. were the recipients of the PGP funds.

What is the purpose of the PGP?

The PGP aims to improve the capacity of community-based organizations to provide access and education to those most in need of affordable housing.