BancorpSouth Bank and FHLB Dallas Provide Funds
for 25 Home Renovations in Marcus Bottom
U.S. Representative Bennie Thompson (MS-2) today joined local
dignitaries, the city of Vicksburg, BancorpSouth Bank and the
Federal Home Loan Bank of Dallas (FHLB Dallas) at a home dedication
ceremony in the Marcus Bottom neighborhood of Vicksburg,
Mississippi. BancorpSouth Bank and FHLB Dallas awarded $180,000 in
Affordable Housing Program (AHP) funds to the city of Vicksburg for
the repair and rehabilitation of 25 homes in the Marcus Bottom
neighborhood. Twenty homes are completed.
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U.S. Representative Bennie Thompson
joined local dignitaries, BancorpSouth Bank, the city of Vicksburg
and FHLB Dallas at a home dedication ceremony today in the Marcus
Bottom neighborhood of Vicksburg, Mississippi. A $180,000
Affordable Housing Program grant helped repair 25 homes in the
neighborhood. (Photo: Business Wire)
“This is a great example of public and private partnerships,
with incentives, working together toward making housing
affordable,” said Congressman Thompson. “I congratulate all parties
involved for a job well done.”
Other attendees included State Representative Oscar Denton,
representing Mississippi’s 55th district and Vicksburg Mayor George
Flaggs Jr.
“This AHP grant from BancorpSouth and FHLB Dallas contributes to
the city of Vicksburg’s goal of ensuring the prosperity of the
residents of the Marcus Bottom area,” said Mayor Flaggs. “Grant
programs like the AHP help residents enjoy a higher quality of life
and I am thankful to all who make Vicksburg a great place to
live.”
Representative Denton praised Mayor Flaggs, his board,
BancorpSouth Bank and FHLB Dallas for their work in the affordable
housing sector.
“There is a great need for safe, decent and affordable housing
in this area,” he said. “Thanks to the partnership between public
and private entities, 25 families will live more comfortably.”
AHP grants are available annually through FHLB Dallas member
institutions such as BancorpSouth Bank to assist in the development
of affordable owner-occupied and rental housing for very low- to
moderate-income households located across FHLB Dallas’ five-state
District of Arkansas, Louisiana, Mississippi, New Mexico and Texas.
In 2016, FHLB Dallas awarded $7.8 million in AHP grants to 27
projects that will result in 1,499 new or renovated housing
units.
After the home dedication ceremony, a trolley tour of
neighborhood homes assisted by the AHP grant was available to event
attendees.
Eighty-seven-year-old Marie Smith’s home was one that received
repairs. AHP grant funds helped repair the roof of her home, which
had a leak. The exterior of her home was also painted, roof cable
gaps were filled and her window seals were repaired, as well. Ms.
Smith, a retired housekeeper now living on a fixed income, said she
now pays less for utilities.
“My house is warmer, I pay less for utilities and the house
looks pretty now,” she said.
BancorpSouth Bank Vice President and Community Development Grant
Specialist Evelyn Edwards said working with FHLB Dallas helps
BancorpSouth Bank support the needs of our communities.
“Our efforts involve collaborating with partners like FHLB to
help redevelop and revitalize neighborhoods such as Marcus Bottom,”
said Ms. Edwards.
She also said that the AHP helps families continue to live on
land that has been passed down from generation to generation.
“There’s a lot of family-owned land that people maintain because
it’s been passed down from generation to generation,” she said.
“Through the AHP, we’re helping them keep their dream and
inheritance.”
City of Vicksburg Housing Director Gertrude Young has partnered
with FHLB Dallas member institutions to provide affordable housing
to Vicksburg residents since 2014 and sees first-hand the positive
impact the AHP has on the community.
“The AHP helps Vicksburg residents make repairs to their homes
they otherwise cannot afford,” she said. “Everybody deserves a safe
place to live and we are committed to partnering with financial
institutions that can make affordable housing accessible to our
neighbors.”
Since 1990, the AHP has awarded more than $254 million for more
than 47,000 projects across FHLB Dallas’ five-state District.
FHLB Dallas First Vice President and Director of Community
Investment Greg Hettrick said it’s an honor to help BancorpSouth
Bank preserve homes in the Marcus Bottom neighborhood.
“The AHP was designed for projects such as this one,” said Mr.
Hettrick. “Not only are we helping our member preserve an area with
a rich cultural history, we are also helping repair the homes of
residents who really need the help.”
Ms. Smith looks forward to making new memories in her house.
“My house is very old,” said Ms. Smith. “I raised my son here.
I’ve been here for about 40 years and now that my house is more
comfortable, I think I’ll stay another 40 years.”
About BancorpSouth, Inc.
BancorpSouth, Inc. (NYSE: BXS) is a financial holding company
headquartered in Tupelo, Mississippi, with $14.9 billion in assets.
BancorpSouth Bank, a wholly-owned subsidiary of BancorpSouth, Inc.,
operates 234 full service branch locations as well as additional
mortgage, insurance, and loan production offices in Alabama,
Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and
Texas, including an insurance location in Illinois. BancorpSouth is
committed to a culture of respect, diversity, and inclusion in both
its workplace and communities. To learn more, visit our Community
Commitment page at www.bancorpsouth.com. “Like” us on Facebook;
follow us on Twitter@MyBXS; or connect with us through
LinkedIn.
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 $57.5 billion as of March 31, 2017, is a
member-owned cooperative that supports housing and community
investment by providing competitively priced loans and other credit
products to approximately 850 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
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