NEW ORLEANS–(BUSINESS WIRE)–Hancock Whitney and the Federal Home Loan Bank of Dallas (FHLB Dallas) have awarded $244,245 in Partnership Grant Program (PGP) funds to 13 nonprofits in Louisiana, Mississippi and Texas.
PGP grants help qualified community-based organizations (CBOs) fund a variety of operational and administrative activities that are critical to serving their communities.
“At Hancock Whitney, we take pride in supporting the nonprofits that contribute so much to the communities we serve,” said Ashley Aubrey Harrison, vice president of community affairs and CRA manager at Hancock Whitney. “With matching funds from the Federal Home Loan Bank of Dallas, we were able to help these 13 organizations defray critical administrative costs so more of their existing funds can go directly to the programs that help our communities in many ways.”
The CBOs include:
- Ben D. Johnson Educational Center, $15,000 (Natchitoches)
- El Centro, Inc., $30,000 (New Orleans)
- Family Resources of New Orleans, Inc., $15,000
- Hispanic Chamber of Commerce of Louisiana, $15,000 (New Orleans)
- Magnolia Community Development Corp., $6,000 (Opelousas)
- Mid City Redevelopment Alliance, $30,000 (Baton Rouge)
- Scotlandville Community Development Corp., $9,000 (Baton Rouge)
- St. Teresa Center for Works of Mercy, $40,000 (St. Martinville)
- The Fuller Center of Northwest Louisiana, Inc., $6,000 (Shreveport)
- The Refinery Mission, $6,000 (Opelousas)
- West 30’s Redemption Corp., $17,245 (Covington)
- Mercy Housing and Human Development, $40,000 (Gulfport, Mississippi)
- Southern Dallas Progress Community Development Corp., $15,000 (Dallas, Texas)
Funding of the PGP was increased by $2 million this year 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. For 2020, the program also 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.
“This diverse group of nonprofits does great work in Louisiana, Mississippi and Texas,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. “Because we increased funding this year for our Partnership Grant Program, we were able to increase the impact of the contributions of Hancock Whitney with a 5:1 match, rather than our normal 3:1 match, so we could provide more assistance to these organizations.”
About Hancock Whitney
Since the late 1800s, Hancock Whitney has embodied core values of Honor & Integrity, Strength & Stability, Commitment to Service, Teamwork, and Personal Responsibility. Hancock Whitney offices and financial centers in Mississippi, Alabama, Florida, Louisiana, and Texas offer comprehensive financial products and services, including traditional and online banking; commercial and small business banking; private banking; trust and investment services; healthcare banking; certain insurance services; and mortgage services. The company also operates a loan production office in Nashville, Tennessee, as well as trust and asset management offices in New Jersey and New York. BauerFinancial, Inc., the nation’s leading independent bank rating and analysis firm, consistently recommends Hancock Whitney as one of America’s most financially sound banks. More information is available at www.hancockwhitney.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 billion as of June 30, 2020, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. Visit fhlb.com for more information.