LUFKIN, Texas–(BUSINESS WIRE)–A Lufkin, Texas, nonprofit that assists homeowners in updating and rehabbing their homes got a boost yesterday with a $23,000 Partnership Grant Program (PGP) award from Austin Bank, Southside Bank, Citizens National Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas).
Neighborhood STRONG partners with local foundations, charities and corporations as well as city, state and federal agencies to assist homeowners of Wards 1 and 2 in the city of Lufkin with enhancing and/or renovating their properties. The organization will use the PGP funds to help with administrative costs.
“When learning that we were awarded this grant, we were extremely thankful,” said Dr. Wayne Lawrence, executive director of Neighborhood STRONG. “We have limited funds to go toward administrative assistance, office space and supplies. The grant will tremendously help us with these costs.”
Through this unique grant program, FHLB Dallas member institutions contribute $500 up to $4,000 to a CBO, which FHLB Dallas matches at a 3:1 ratio to provide the CBO up to $12,000 in grant money.
“We appreciate the opportunity to partner with FHLB Dallas to invest in the quality of life for North Lufkin residents,” said Southside Bank Vice President and CRA Officer Brooke Mott. “Through the vision of Neighborhood STRONG, we look forward to seeing the impact the grant will have on the community.”
Citizens National Bank’s Senior Vice President and Central Regional Manager Jon Moore also emphasizes the value of the PGP.
“The Partnership Grant Program has been a wonderful benefit for our bank,” said Mr. Moore. “We truly value the importance of giving back to the community through financial assistance and this program is the perfect way of doing so.”
In 2018, FHLB Dallas has awarded $300,000 in PGP funds through 31 member institutions to assist 32 community-based organizations. Combined with the $114,010 contributed by FHLB Dallas members, a total of $414,010 has been awarded to the organizations.
Austin Bank CRA Officer Debbie Braune said the bank’s community has benefited from the PGP.
“We really appreciate the partnership aspect of the PGP because it opens the door for Austin Bank to positively affect the community,” said Ms. Braune.
FHLB Dallas Vice President and Affordable Housing Program Manager Bruce Hatton said the PGP was designed to strengthen partnerships.
“Our members’ partnership on this particular grant is a testament to their commitment to the community,” said Mr. Hatton. “One of the goals of the PGP is to build stronger relationships, especially for our members and their communities.”
Neighborhood STRONG’s Dr. Lawrence said the nonprofit needs grants from programs like the PGP to operate sufficiently.
“We are incredibly grateful for FHLB Dallas and their members’ assistance,” said Dr. Lawrence. “Their work is essential for us to carry out our mission.”
To learn more about the PGP or other Community Investment programs from FHLB Dallas, visit fhlb.com/community.
About Austin Bank
Austin Bank’s lengthy legacy is the foundation of its philosophy to provide the financial stability and trust that contributes to the growth and prosperity of the communities it serves. With 32 locations in 23 cities and 11 counties, Austin Bank is a trusted financial source for the families and businesses it serves in East Texas.
About Southside Bank
Southside Bancshares, Inc., the holding company for Southside Bank, is headquartered in Tyler, Texas. With approximately $6.37 billion in assets, Southside Bank operates 59 banking facilities in East, North, Central Texas and Southeast Texas. The bank also operates a network of 84 local ATMs/ITMs, and is affiliated with more than 55,000 foreign ATMs worldwide.
Established in 1960, Southside Bank is a community-focused financial institution that offers a full range of financial services to individuals, businesses and nonprofit organizations. These services include: consumer and commercial loans; mortgages; loans to municipalities; personal, small business and commercial deposit accounts; safe deposit boxes; business services; credit cards; ATMs; trust and wealth management; brokerage services; and an array of online and mobile services.
About Citizens National Bank
Citizens National Bank was established in 1930 at the height of the Great Depression. With their recent acquisition of Union State Bank, they are now a $2.2 billion community bank that serves East and Central Texas with a combined network of 36 conveniently located branches. CNB also has trust assets under management of $650 million. Throughout its existence, CNB has remained committed to providing excellent personal service with the latest in banking technology. Citizens National Bank can be found online at CNBTexas.com.
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 development by providing competitively priced advances and other credit products to approximately 825 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. Visit fhlb.com for more information.
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