BATESVILLE, Ark., Oct. 27, 2015 /PRNewswire-USNewswire/ -- One of Batesville's newest nonprofits, the Community Enrichment Organization (CEO), last week received a $16,000 Partnership Grant Program (PGP) award in a formal check presentation from First Community Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas). The PGP funds will be used to hire and train staff members for a family-focused homeless shelter called "A Step Forward."
Through the PGP, FHLB Dallas member institutions, such as First Community Bank, make a contribution to a community-based organization, which FHLB Dallas matches at a 3:1 ratio. The member's contribution may range from $500 up to $4,000. FHLB Dallas awarded $225,000 in its annual PGP awards to support 25 organizations this year.
"We are so pleased to be selected for this significant donation from First Community Bank and the matching grant from FHLB Dallas. This funding will help us hire and train staff and get the doors of our recently purchased home opened much sooner," said Autumn Hunter, executive director of CEO. "Our mission is to create a community where the homeless, hungry, and impoverished are acknowledged and supported by a united community."
Local Batesville business owners established CEO in January 2015 to help the homeless individuals and families who visited their businesses. CEO recently won a bid at auction and is in the process of acquiring a five-bedroom, two-bath house. Once open, the transitional home will serve up to four families at a time for periods of up to six months. CEO will also provide opportunity for employment, financial literacy education, and access to community resources.
Dale Cole, First Community Bank's chairman and chief executive officer, said investing in every aspect of the community is of great importance, from business-building projects to helping the homeless.
"Securing money for worthy community organizations has been a special project of First Community Bank," Mr. Cole said. "Because of FHLB Dallas' grant program, our $4,000 gift has been multiplied to $16,000. We are honored to be able to support the Community Enrichment Organization, as caring for the homeless has become of greater importance in Independence County."
U.S. Census figures showed the poverty level in Arkansas nearly four percentage points higher than the national average — 19.2 percent in Arkansas versus 15.4 percent overall. The data comes from 2013, the most recent numbers available.
Presented annually, PGP funds may be used for research, organizational capacity-building, grant- and funding-application assistance, or contractual services. For more information, visit fhlb.com.
Greg Hettrick, vice president and director of Community Investment at FHLB Dallas, said the PGP works through the power of member partnerships.
"Nonprofits often face significant constraints on how their grant awards may be used," Mr. Hettrick explained. "Through the PGP, FHLB Dallas has created a program to help fill in the gaps that arise. We are gratified to support CEO in this way by matching the generous contribution from our valued member, First Community Bank."
About First Community Bank
First Community Bank, which is locally owned and managed, opened Aug. 4, 1997, in Batesville, Ark., and operates 17 full-service branches in Arkansas and Missouri and a stand-alone mortgage origination office in Craighead County, Ark. First Community employs more than 266 professional bankers and reports assets as of Aug. 31, 2015, of more than $1 billion.
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 $42.6 billion as of June 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.
Federal Home Loan Bank of Dallas
SOURCE Federal Home Loan Bank of Dallas