Home Bank and FHLB Dallas award $5,000 to Slidell Affordable Housing Nonprofit


FHLB Dallas Partnership Grant Program offers a 3:1 match of member donations

MANDEVILLE, Louisiana, October 14, 2022–(BUSINESS WIRE)–Home Bank and Federal Home Loan Bank of Dallas (FHLB Dallas) recently awarded $5,000 in Partnership Grant Program (PGP) funds to Northshore Housing Initiative (NHI), a land trust community that supports affordable housing initiatives in the parish of St. Tammany.

This press release is multimedia. View the full press release here: https://www.businesswire.com/news/home/20221014005539/en/

Representatives from Home Bank and Federal Home Loan Bank of Dallas awarded $5,000 in grants to Northshore Housing, an affordable housing nonprofit in Slidell, Louisiana. (Photo: BusinessWire)

Awarded annually by FHLB Dallas member institutions, Partnership Grant Program (PGP) funds help promote and strengthen relationships between community-based organizations (CBOs) and FHLB Dallas members. FHLB Dallas matches member contributions from $500 to $4,000 at a ratio of 3:1.

“Northshore Housing Initiative supports Home Bank’s mission to meet the needs of our communities with affordable workforce housing,” said Kelvin Luster, director of community development at Home Bank. “We are incredibly honored to support Northshore Housing Initiative alongside FHLB Dallas, which has allowed our investment to go further.”

NHI will use proceeds from its PGP grant to expand its community trust fund. The trust acquires land and retains permanent ownership. He enters into a renewable long-term lease instead of a traditional sale with home buyers. When the owner sells, the family earns a portion of the increased property value and the rest is retained by the trust to preserve affordability for future low-to-moderate income families.

NHI is one of seven local nonprofits that Home Bank is supporting with PGP funding this year. Together, Home Bank and FHLB Dallas paid out more than $67,000 to seven CBOs in Louisiana, Mississippi and Texas.

“Home Bank pours its resources into communities,” said Greg Hettrick, senior vice president and director of community investment at FHLB Dallas. “It is an honor to partner with a financial institution that demonstrates such a commitment to addressing affordable housing needs in its community.”

See the full list of 2022 PGP Grant recipients. For more information on the 2022 PGP Grants and other FHLB Dallas community investment products and programs, please visit fhlb.com/pgp.

About Home Bank, NA

Home Bank, NA, founded in 1908 as Home Building & Loan, is the oldest financial institution founded in Lafayette Parish. Home Bank now serves the southern Louisiana and Mississippi markets in 40 locations. Home Bank is committed to meeting the needs of our communities. Personal banking has always been the hallmark of Home Bank and that tradition continues as we grow, invest and serve our customers and our community. We live our values ​​every day, focusing on integrity, innovation and commitment to serving others. For more information about Home Bank, visit www.home24bank.com.

About Federal Home Loan Bank of Dallas

Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank system established by Congress in 1932. FHLB Dallas, with total assets of $77.7 billion as of June 30, 2022, serves approximately 800 members and associated institutions in our five-state district of Arkansas, Louisiana, Mississippi, New Mexico and Texas. FHLB Dallas offers financial products and services, including advances (loans to members) and grant programs for affordable housing and economic development. For more information visit our website at fhlb.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20221014005539/en/

contacts

Business communication
Federal Home Loan Bank of Dallas
fhlb.com
(214) 441-8445

Previous Battersea Power Station Opening: Photos of London's Brand New Shopping Center
Next How TJ Maxx and Ross Cut Their Clothes So Much