MARKSVILLE, La., Oct. 19, 2010 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Dallas (FHLB Dallas) is pleased to announce it has awarded a $40,000 Affordable Housing Program (AHP) grant to the Tunica-Biloxi Housing Authority to assist with the rehabilitation of four homes on the Tunica-Biloxi Native American Reservation.
The AHP funds, which were issued through IBERIABANK, an FHLB Dallas member financial institution in New Iberia, will assist four low-income families with home repairs.
This is the second AHP grant that FHLB Dallas has awarded to the Tunica-Biloxi Housing Authority.
"The AHP funds will greatly aid the Tunica-Biloxi Housing Authority in assisting low-income individuals and families with their housing needs," said Arlene Leviege, housing program coordinator/manager for the Tunica-Biloxi Housing Authority. "There is a critical need on the reservation for home rehabilitation, and this grant will assist four families who otherwise would not have the means to make much needed repairs. We appreciate the assistance of FHLB Dallas and IBERIABANK in awarding this grant, and look forward to working together again in the future."
AHP funds are used to purchase, construct, and/or rehabilitate single-family, transitional, and multifamily projects for very low- to moderate-income families. Each year, FHLB Dallas returns 10 percent of its profits to the communities served by its member institutions in the form of AHP grants issued through member financial institutions, such as IBERIABANK. In 2010, FHLB Dallas awarded more than $420,000 in AHP grants through IBERIABANK to support projects in Louisiana, and another $180,000 to support projects in Arkansas, where IBERIABANK, fsb has branches.
"IBERIABANK is proud to have worked with FHLB Dallas to award a grant that will have a very positive impact on the living conditions of four families who are in dire need of support," said Carrie Curet, vice president and community development officer at IBERIABANK.
The AHP grant to the Tunica-Biloxi Housing Authority is part of $18.5 million in AHP grants that FHLB Dallas awarded, through its member institutions, in 2010, including more than $2.2 million to assist with 284 housing units in Louisiana. This year marks the 20th anniversary of AHP, and the $18.5 million represents the largest amount FHLB Dallas has awarded in any single year of the program. Since 1990, AHP has assisted more than 38,000 families with their affordable housing needs.
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 $57.1 billion as of June 30, 2010, 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
About IBERIABANK
IBERIABANK Corporation is a multi-bank financial holding company headquartered in Lafayette, Louisiana. The Company has 210 combined offices, including 136 bank branch offices in Louisiana, Arkansas, Tennessee, Alabama, Texas, and Florida, 26 title insurance offices in Arkansas and Louisiana, and mortgage representatives in 48 locations in 12 states. The Company's common stock trades on the NASDAQ Global Select Market under the symbol "IBKC."
CONTACT: Federal Home Loan Bank of Dallas Corporate Communications (214) 441-8445 www.fhlb.com