Origin Bank, Progressive Bank and FHLB Dallas
Award Grant to Offset Operations, Administrative Costs
Origin Bank, Progressive Bank and the Federal Home Loan Bank of
Dallas (FHLB Dallas) partnered to award a Louisiana nonprofit
organization $8,000 in Partnership Grant Program (PGP) funds. Bank
representatives recently joined leadership from NOVA Workforce
Institute of Northeast Louisiana (NOVA) at the Monroe Chamber of
Commerce to announce the funds. NOVA will use the funds to offset
operational and administrative costs, as well as help facilitate
training and educational opportunities for clients.
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Origin Bank, Progressive Bank and FHLB
Dallas partnered to award Louisiana nonprofit, NOVA Workforce
Institute of Northeast Louisiana $8,000 in Partnership Grant
Program funds to offset operational and administrative costs.
(Photo: Business Wire)
This is the third grant NOVA has received from FHLB Dallas,
bringing their total grant awards to $36,000.
“As a nonprofit, the greatest challenge we face is typically
funding,” said NOVA Executive Director Paul West. “What this grant
does is it has continued to allow people the opportunity to move
into self-sufficiency through living wage jobs.”
Origin Bank Senior Vice President and Northeast Market Leader
Billy Haddad said communities and financial institutions have a lot
to gain from the PGP.
“The Partnership Grant Program helps promote economic growth and
strengthens our relationships with the community,” said Mr. Haddad.
“We’re proud to make a positive impact on the community through the
PGP.”
Through the PGP, FHLB Dallas matches a member’s contribution to
a community-based organization (CBO) of $500 up to $4,000 at a 3:1
ratio for a maximum $12,000 contribution. Awarded annually via a
lottery system through FHLB Dallas members, PGP grants may be used
for research, organizational capacity-building, grant- and
funding-application assistance or contractual services.
Jeff Laudenheimer, senior vice president, private banking
relationship manager at Progressive Bank said the PGP will help
NOVA continue its mission.
“NOVA is not just helping individuals find fulfilling careers,
but also helping develop the community’s economic landscape by
connecting businesses with job candidates,” said Mr. Laudenheimer.
“We are proud to support the important service that NOVA provides
to the community through the PGP.”
In 2017, FHLB Dallas awarded $300,000 in PGP funds through 31
member institutions to assist 30 CBOs. Combined with the $104,550
contributed by FHLB Dallas members, a total of $404,550 was awarded
to the organizations.
“The PGP is unique because it supports the use of funds for
operational, training or marketing expenses,” said Greg Hettrick,
first vice president and director of Community Investment at FHLB
Dallas. “We appreciate having another opportunity to support NOVA
with our members, without whom this wouldn’t be possible.”
Mr. West said he is thankful for the partnership with the
financial institutions.
“Many other grant programs don’t offer capacity-building
support, so it is nice to know that if we wanted to write a grant
or something, we can pay for contractual services through the PGP,”
said Mr. West. “You can’t just get a 3 to 1 match anywhere. Our
partnership with the banking institutions in this community have
been very supportive of what we do.”
For more information, visit fhlb.com/pgp.
About Origin Bank
Origin Bank, formerly Community Trust Bank, is more than a
century-old, Louisiana-chartered bank which provides a wide range
of traditional banking services with 41 banking centers throughout
Louisiana, Texas, and Mississippi. Origin Bank is a wholly-owned
subsidiary of Origin Bancorp, Inc., a financial holding company
with assets of over $4 billion. Origin Bancorp’s common stock is
not listed on any exchange and is traded through individually
negotiated transactions. Member FDIC. To learn more, visit Origin
Bank’s website at originbankonline.com.
About Progressive Bank
Progressive Bank was founded in October 1975 in Winnsboro,
Louisiana, to serve the special banking needs of the agricultural
community in the Franklin Parish area. Now with seven locations in
Monroe, West Monroe and Shreveport, and $535 million in assets,
Progressive Bank aims to be the choice for financial solutions in
the markets we serve. For more information, go to
progressivebank.com.
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 $66.4 billion as of September 30, 2017, is a
member-owned cooperative that supports housing and community
investment by providing competitively priced loans and other credit
products to approximately 840 members and associated institutions
in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more
information, visit fhlb.com.
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Federal Home Loan Bank of DallasCorporate Communications,
214-441-8445fhlb.com