INDIANOLA, Miss., Oct. 19, 2009 (GLOBE NEWSWIRE) — The Federal Home Loan Bank of Dallas (FHLB Dallas) today will join Community Bank of North Mississippi, Guaranty Bank and Trust Company, Planters Bank and Trust Co., and Southern Bancorp in announcing $10,000 in Partnership grants that have been awarded to Indianola Main Street.
Indianola Main Street is a nonprofit corporation that was organized to actively promote the growth of local business, industry, and agriculture. The funds will be used to offset operational, administrative, and training expenses as the organization grows and develops other funding sources.
“Our economy here in the Mississippi Delta has been hit very hard in the last couple years as the prices of catfish and cotton declined, which in turn affected our merchants,” said Sherilyn Jones, Project Manager of Indianola Main Street. “The grant has allowed us to continue our programs, as well as develop local funding and support. Thus, allowing Main Street an opportunity to be of assistance to our businesses and our community.”
FHLB Dallas has awarded $225,000 this year in Partnership grants to community-based organizations in Arkansas, Louisiana, Mississippi, New Mexico, and Texas.
“FHLB Dallas is pleased to join four of our member financial institutions in presenting $10,000 in Partnership grants to Indianola Main Street,” said Terry Smith, FHLB Dallas President and Chief Executive Officer. “Indianola Main Street’s focus on improving Indianola’s economic and business climate is one that FHLB Dallas firmly supports.”
Community Bank and FHLB Dallas awarded a $3,000 Partnership grant to Indianola Main Street.
“Community Bank is honored to partner with our other home town financial institutions for one common goal — to promote a healthy economic climate in Indianola,” said Cindy Baird, President, Indianola Community Bank, North Mississippi. “Main Street is a valuable organization to channel our resources in an effort to accomplish the growth of local businesses.”
Guaranty Bank and Trust Company and FHLB Dallas teamed up on a $2,000 Partnership grant to the organization.
“Guaranty Bank is proud to be a supporter of Indianola Main Street since its inception,” said Paul Townsend, Vice President of Guaranty Bank and Trust. “Efforts and improvements to the community such as updating buildings and promoting events have been a tremendous encouragement and help to revitalize the interest of the community. We look forward to working with Indianola Main Street on future projects.”
Planters Bank and Trust Company and FHLB Dallas awarded a $3,000 Partnership grant to Indianola Main Street.
“The FHLB Dallas Partnership grant has played a significant role in the success of Indianola Main Street,” said Weldon Aultman, President, Indianola Office, Planters Bank and Trust Company. “The grant money provided much needed financial support as the organization grows in membership and develops its programs. Planters Bank is pleased to participate in this effort.”
Southern Bancorp and FHLB Dallas awarded $2,000 to the nonprofit.
“Southern Bancorp is a community development bank whose mission is building communities and changing lives,” said Joe Ricotta, President and Chief Operating Officer of Southern Bancorp. “We are honored to be able to participate in this program since this program with Main Street follows our mission statement.”
Partnership grants are offered through FHLB Dallas’s member institutions and are awarded on a first-come, first-served basis. The grants provide funding for operational needs of community-based organizations involved in affordable housing and community development. FHLB Dallas matches member’s cash contributions to a community-based organization of $500 up to $5,000 at a 3:1 ratio.
An event announcing the four Partnership grants will take place at 1:00 p.m. today at Indianola Main Street’s headquarters at 315 Main Street, Indianola, Mississippi. For more information regarding the event, please contact FHLB Dallas Corporate Communications at 214.441.8445.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $72.1 billion as of June 30, 2009, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to more than 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit the FHLB Dallas web site at fhlb.com.
The Federal Home Loan Bank of Dallas logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3013
CONTACT: Federal Home Loan Bank of Dallas