Five Pontotoc County Banks Partner with FHLB Dallas to Support Habitat for Humanity

10 Nov, 2015, 18:00 ET from Federal Home Loan Bank of Dallas

PONTOTOC, Miss., Nov. 10, 2015 /PRNewswire-USNewswire/ -- The Pontotoc County Habitat for Humanity affiliate was awarded a $20,000 Partnership Grant Program (PGP) check today. Pontotoc Mayor Jeff Stafford took part in the presentation to Habitat from the Federal Home Loan Bank of Dallas (FHLB Dallas) and five member institutions: BancorpSouth Bank, Renasant Bank, First Choice Bank, Bank of Pontotoc, a division of Oxford University Bank; and Woodforest National Bank.

Presented annually, PGP awards provide grants up to $12,000 to community-based organizations (CBOs), which may be used for research, organizational capacity-building, grant- and funding-application assistance, or contractual services.

"On behalf of all Pontotoc residents, I am honored today to thank the contributors to this Partnership grant," Mayor Stafford said. "Their combined generosity will be put to good use by our Habitat affiliate to create affordable housing for some of our very low-income citizens."

Danny Park, executive director of the Pontotoc County Habitat for Humanity, said that the grant provides much-needed funding at a critical time in the homebuilding process.

"We can't thank you all enough," he said. "There are many things that must be done before we can start building, like now. With this grant, we are going to be able to put in water and sewer lines for our next 12 houses."

The Habitat's subdivision, Circle of Hope, has 16 lots for future homes. Pontotoc County Habitat typically builds one to two homes per year.

Bryan McCutchen, BancorpSouth's president of Pontotoc County said, "BancorpSouth Bank is committed to bringing solutions for affordable housing to our friends and neighbors in Pontotoc County and across the region we serve," he said. "Partnering with FHLB Dallas and other local financial institutions gives BancorpSouth the opportunity to address these critical housing needs and leverage the access to funding. Pontotoc County Habitat for Humanity is an outstanding organization that cares about providing safe and permanent housing for families striving to achieve the American dream of home ownership, and we are excited to join together to help make this a reality."

Wesley Morgan, assistant vice president at First Choice Bank, said the grant reflects a mission-minded commitment to Pontotoc.

"Our motto is that we are community-minded, community-strong," he said. "By partnering with the local affiliate of Habitat, other banks, and FHLB Dallas, that exemplifies our mission and strengthens our community."

Representatives from the other contributing Pontotoc County banks included J. Grant Reynolds, branch manager at Bank of Pontotoc, a division of Oxford University Bank; Jerry Robbins, division president at Renasant Bank; and Larry Hughes, branch manager at Woodforest National Bank.

The structure of the PGP allows FHLB Dallas member institutions to make a contribution of $500 to $4,000 to a community-based organization (CBO), which FHLB Dallas will match at a 3:1 ratio. In 2015, FHLB Dallas awarded $225,000 in PGP funds to support 25 organizations. For more information, visit fhlb.com.

Greg Hettrick, vice president and director of Community Investment at FHLB Dallas, said the PGP reaches communities large and small to make a difference.

"We are incredibly gratified to partner with these members to better support the Pontotoc Habitat organization," he said. "There is a significant need in this and other parts of our District for pre-development funding, and the PGP helps nonprofits by allowing funds to be used for administrative and operational requirements."

About BancorpSouth Bank

BancorpSouth, Inc. is a financial holding company headquartered in Tupelo, Mississippi, with approximately $13.8 billion in assets. BancorpSouth Bank, a wholly-owned subsidiary of BancorpSouth, Inc. operates 286 commercial banking, mortgage, and insurance locations in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee, and Texas, including an insurance location in Illinois. "Like" us on Facebook; follow us on Twitter: @MyBXS; or connect with us through LinkedIn.

About Renasant Corporation

Renasant Corporation is the parent of Renasant Bank, a 111-year-old financial services institution. Renasant has assets of approximately $7.8 billion and operates more than 170 banking, mortgage, financial services and insurance offices in Mississippi, Tennessee, Alabama, Florida, and Georgia.

About First Choice Bank

First Choice Bank is your full service community bank that has provided Pontotoc County over 115 years of excellent banking service. We have three convenient locations in Pontotoc, one on Main Street, one on Highway 15 North and one in Ecru. It is our goal to continue to provide competitive products, services and community involvement. We take pride in -"Serving the communities we call home!"

About Bank of Pontotoc, a division of Oxford University Bank

We are your hometown, home-owned Bank. We're dedicated to providing the citizens of Lafayette and Pontotoc Counties and the surrounding area with a level of personal services that's hard to find in this modern era of megabanks and automated financial services. Rest assured that here, you're more than a number — you're family.

About Woodforest National Bank

For 35 years Woodforest National Bank® has successfully stood among the strongest community banks in the nation, proudly offering unsurpassed quality customer service since 1980. Woodforest offers both consumer and business products and services. Woodforest is privately owned and our Employee Stock Ownership Plan is the largest shareholder. In the spirit of "true ownership" Woodforest employees strive to offer quality banking service and to understand the financial needs of every customer they serve.  Our employees live, work and "give back" throughout our many banking communities by supporting organizations and civic events with countless hours of volunteer time and financial support. Today Woodforest has over 740 branch locations throughout Alabama, Florida, Georgia, Kentucky, Louisiana, Illinois, Indiana, Maryland, Mississippi, New York, North Carolina, Ohio, Pennsylvania, South Carolina, Texas, Virginia, and West Virginia.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 11 district banks in the FHLBank system created by Congress in 1932. FHLB Dallas, with total assets of $43.0 billion as of September 30, 2015, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 865 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. Visit fhlb.com for more information.

Contact:
Corporate Communications
Federal Home Loan Bank of Dallas
www.fhlb.com
(214) 441-8445

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SOURCE Federal Home Loan Bank of Dallas



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