MONROE, La., Dec. 3, 2010 (GLOBE NEWSWIRE) -- Ouachita Independent Bank (OIB), Community Trust Bank, Progressive Bank, Richland State Bank, Cross Keys Bank, BancorpSouth Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) are pleased to announce they have awarded $24,000 in Partnership Grant Program (PGP) awards to Family Promise of Ouachita (Family Promise). The checks were presented during a media event at OIB on Wednesday, December 1.
A photo accompanying this release is available at
Family Promise will use the PGP funds to help pay its monthly operating expenses. Family Promise is a nonprofit organization that is committed to helping low-income families achieve lasting independence. Family Promise of Ouachita partners with local churches and social service agencies to provide transitional housing, meals, and support services to homeless families.
"A lot of our budgeting is for our families and emergency funds. We like to be able to provide for our families when they come in," said Sandra Jones, executive director of Family Promise of Ouachita. "We provide laundry detergent, bathing necessities, and personal items like deodorant and other essentials. That grant money is extremely important to us."
PGP awards are offered through FHLB Dallas member institutions, on a first-come, first-served basis. The awards provide funding for operational needs of community-based organizations involved in affordable housing and community development. FHLB Dallas matches members' cash contributions to a community-based organization of $500 up to $5,000 at a 3:1 ratio.
Louisiana State Senator Robert "Bob" Kostelka attended the media event Wednesday.
"In these difficult financial times for our nation, and particularly the state of Louisiana, the delivery of partnership grants to charitable organizations, and particularly faith-based organizations, from private banking institutions and industry is both much needed and appreciated. National, state, and local governmental budgets are being drastically reduced and individuals and private organizations must now protect the least of these amongst us," Senator Kostelka said. "I am honored to be present to take part in the granting of funds to such a worthy organization as Family Promise of Ouachita, whose promise is to help hold families together in trying times. The family is the foundation of our American way of life and I can't think of any better organization to support than this organization that promises to support our most needy families."
Also in attendance at the event were Louisiana State Representative Kay Kellogg and Monroe Mayor James "Jamie" Mayo.
Six FHLB Dallas member institutions awarded partnership grants to Family Promise.
OIB and FHLB Dallas awarded a $4,000 PGP award to Family Promise of Ouachita.
"The co-operative effort of six banks to receive this grant was very rewarding," said OIB Chairman and CEO Clyde White, who is also a board member of Family Promise of Ouachita. "None of the banks, when contacted, hesitated to participate in this very worthwhile cause."
Progressive Bank and FHLB Dallas awarded a $4,000 PGP award to Family Promise of Ouachita.
"Contributing to the communities we serve through our time, talents, and resources is one of Progressive Bank's four stated missions," said Progressive President George W Cummings III. "We are proud to continue that commitment through our participation in the FHLB Dallas Partnership Grant Program for Family Promise of Ouachita, as they work to meet the needs of the homeless in our community."
BancorpSouth Bank and FHLB Dallas awarded a $4,000 PGP award to Family Promise of Ouachita.
"In these challenging economic times in our community, BancorpSouth continues in its commitment to our community and to helping those in need," said Monroe Division President L.J. Holland. "The services that Family Promise provides to these families is not only impactful in their lives today, but for their future as well. BancorpSouth is honored to be a part of this partnership with the FHLB Dallas Partnership Grant Program and the financial community as it strives to provide resources necessary for these invaluable services."
Community Trust Bank and FHLB Dallas awarded a $6,000 PGP award to Family Promise of Ouachita.
"Community Trust Bank is honored to partner with our local banks, the Federal Home Loan Bank of Dallas, and Family Promise of Ouachita to help make a positive impact on those in need in Ouachita Parish," said Community Trust Executive Vice President and Regional President Lance Hall. "Community is not just a word in our name; it represents a commitment to always look for positive ways to make a difference in the areas we serve."
Cross Keys Bank and FHLB Dallas awarded a $2,000 PGP award to Family Promise of Ouachita.
"Because it is impossible for us to meet all of the needs of the homeless in the large area that we serve, Cross Keys Bank is proud to be associated with Family Promise where we are helping people who are helping people," said Cross Keys Bank President Michael Vizard. "The Federal Home Loan Bank of Dallas has made it possible for the local community banks to work together and make a much larger impact than any of us could do separately."
Richland State Bank and FHLB Dallas awarded a $4,000 PGP award to Family Promise of Ouachita.
"Richland State Bank has a 108-year history of being a true community servant," said Richland State Bank CEO Jerome Vascocu. "Our staff and directors are each sensitive to the significant needs all around us, and we are pleased that the Federal Home Loan Bank of Dallas grant has made it possible for us to multiply our gift to Family Promise. I also commend my friend, Clyde White, for organizing this wonderful effort."
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBankSystem created by Congress in 1932. FHLB Dallas, with total assets of $51.6 billion as of September 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
CONTACT: Federal Home Loan Bank of Dallas Corporate Communications (214) 441-8445 www.fhlb.com