Trustmark National Bank and FHLB Dallas Award $6K Grant to Central Mississippi Housing & Development Corporation

CANTON, Miss., Oct. 2, 2014 /PRNewswire-USNewswire/ -- A $6,000 Partnership Grant Program (PGP) award was presented yesterday to the Central Mississippi Housing and Development Corporation (CMHDC) from Trustmark National Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas).

"This is the first project we have done with Trustmark. We plan to use the money for housing efforts," said Stanford Beasley, executive director, CMHDC. Mr. Beasley founded the organization in 2012 to help fill the void of affordable housing units in Canton. "Canton has desperately needed housing that's affordable to our lower-income residents," he said. "The Central Mississippi Housing and Development Corporation exists to provide this vulnerable population with the safety and security found in having a place to call home."

Canton is a town of 13,000 people, which is approximately 25 miles north of Jackson, the state capitol.

"Trustmark is pleased to have partnered with CMHDC on several grant awards specifically for housing construction and rehabilitation in Canton and Madison County," said Steffani Jenkins, insert title. "This award is different in that it helps CMHDC with operational and administrative expenses, two line items that are of particular importance to nonprofits."

Through the PGP, FHLB Dallas awards partnership grants through its member institutions, like Trustmark National Bank, to provide funding for the operational needs of community-based organizations involved in affordable housing and economic development. FHLB Dallas matches a member's cash contribution to a community-based organization of $500 up to $5,000 at a 3:1 ratio. Through its member institutions, FHLB Dallas awarded $225,000 in partnership grants in 2014.

"On behalf of the city of Canton, I would like to thank Trustmark National Bank and the Federal Home Loan Bank of Dallas for their partnership and support in providing housing assistance in our community," said Canton Mayor Arnel D. Bolden. "Through these programs, citizens can be helped to accomplish their dreams."

The need in Canton, like other small Mississippi communities, is great. Statistics show 21 percent of Canton households earn less than $10,000 annually. Nationwide, "4.5 percent of all U.S. families had an annual family income of less than $10,000," as reported in the American Community Survey Brief, published December 2011 by the U.S. Census Bureau.

"Community banking and investment are vital to FHLB Dallas and our members," said Greg. Hettrick, an FHLB Dallas vice president and director of community investment. "Trustmark demonstrates our shared commitment to local investment. We are pleased to partner with them in this PGP award to CMHDC."

About Trustmark
Trustmark Corporation is a diversified financial services company headquartered in Jackson, Mississippi, with approximately $12 billion in assets and more than 200 locations in Alabama, Florida, Mississippi, Tennessee and Texas.  Trustmark provides banking, wealth management and insurance solutions through its subsidiaries, including Trustmark National Bank, Trustmark Investment Advisors, Inc. and Fisher Brown Bottrell Insurance, Inc.  Visit www.trustmark.com for more information.

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 $33.6 billion as of June 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.

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

SOURCE Federal Home Loan Bank of Dallas