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Orange Savings Bank and Federal Home Loan Bank of Dallas Announce Grand Opening of Putnam Place; Project Received $116K Affordable Housing Grant

/ Source: GlobeNewswire

ORANGE, Texas, Nov. 2, 2010 (GLOBE NEWSWIRE) -- Please join representatives of Orange Savings Bank, the Federal Home Loan Bank of Dallas (FHLB Dallas), and Roselawn Manor, Inc. today as they celebrate the grand opening of Putnam Place, an independent living facility for very low-income individuals who suffer from chronic mental illness. FHLB Dallas and Orange Savings Bank awarded the project a $116,404 Affordable Housing Program (AHP) grant in 2007 to assist with construction costs.

FHLB Dallas has awarded $18.5 million in AHP grants through member institutions, such as Orange Savings Bank, to help create, renovate, or purchase 2,632 housing units in 2010, including $5.5 million to assist with 912 housing units in Texas.

Orange Savings Bank and FHLB Dallas will conduct a check presentation during the event and there will be an opportunity for photos and interviews.

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 Corporate Communications (214) 441-8445 www.fhlb.com