Grants from Anstaff Bank, Community First Bank, and FHLB Dallas Help Northwest Regional Housing Development Corp. Fulfill Mission

HARRISON, Ark., Nov. 6, 2014 /PRNewswire/ -- The Northwest Regional Housing Development Corporation has received two, $10,000 grants from the Federal Home Loan Bank of Dallas (FHLB Dallas), Anstaff Bank, and Community First Bank, which the agency says it will use to help offset operational and administrative costs.

Greg Hettrick, vice president and director of Community Investment at FHLB Dallas, explains that the Partnership Grant Program (PGP) helps fill a gap in funding so often seen in community-based organizations. FHLB Dallas matches a member's cash contribution to a community-based organization of $500 up to $5,000 at a 3:1 ratio. In 2014, FHLB Dallas awarded $225,000 in partnership grants.

"Organizations like Northwest Regional Housing Development Corp. fill a real need in the community, and programs like PGP support them and their efforts," notes Mr. Hettrick. "I commend Anstaff Bank and Community First Bank for participating in the PGP, and serving as a funding source for Northwest Regional Housing Development Corp."

Both Anstaff Bank and Community First Bank are members of FHLB Dallas. Their participation in the program made it possible for Northwest Regional Housing Development Corp. to receive a total of $20,000 in grants.

"We welcome the opportunity to partner with Northwest Regional Housing Development Corp. as they work to revitalize distressed neighborhoods in our community and restore low-income families' hope," says Stephen Stafford, CEO of Anstaff Bank.

Community First Bank President and CEO David Morton echoes those sentiments and adds, "We appreciate our partnership with FHLB Dallas and will continue taking advantage of the PGP. Our participation in that program allows us to provide support to organizations like Northwest Regional Housing Development Corp., which is doing great things for our community."

As the demand for affordable and safe housing grows, Carolyn Arnold, president of the Northwest Regional Housing Development Corp., says the demand on staff and the organization increases.

"We work tirelessly to ensure low-income families in our community have an opportunity to become homeowners," says Ms. Arnold. "An enormous amount of effort goes into educating our clients on the responsibilities of homeownership and making sure they have the financial tools and resources to be successful. These grants greatly increase our capacity to fulfill our mission."   

About Anstaff Bank

Anstaff Bank, formerly Bank of Green Forest, was chartered in 1931. Today, Anstaff Bank has approximately $400 million in assets and more than 100 employees with nine locations serving Green Forest, Berryville, Harrison, Huntsville, Kingston and Jasper. The bank offers a full line of financial services, from checking and savings accounts, to personal, farm, or business loans. Anstaff Bank offers 24-hour touchtone banking in English and Spanish along with online Internet, bill pay, account transfers and mobile banking services.

About Community First Bank

Community First Bank began in 1997 with a vision to be a true community bank.  Today with over $460M in Total Assets and 130 bankers in four North Arkansas communities, CFB is making a difference.  Our bank has every financial service, product, and technology imaginable.  CFB takes pride in providing personal service that exceeds traditional banking.  One way is through community involvement and participation in several projects such as this, benefiting citizens from every financial profile!

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 $37.5 billion as of September 30, 2014, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas.

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

Related Links

http://www.fhlb.com