PONTOTOC, Miss., Dec. 2, 2011 (GLOBE NEWSWIRE) -- Officials gathered on Tuesday to honor Pontotoc County Habitat for Humanity (Pontotoc Habitat) and the four Partnership Grant Program (PGP) awards it received through the Federal Home Loan Bank of Dallas (FHLB Dallas) and four of its member institutions – BancorpSouth, Bank of Pontotoc, First National Bank of Pontotoc, and Renasant Bank. The grant funds total $20,000 and will assist the nonprofit in completing renovations for a new home office building.
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Pontotoc Habitat currently offices in a small building, which originally served as a doctor's office, and is owned by a neighboring church. The church has allowed Pontotoc Habitat to remain in the building, but the nonprofit organization has outgrown the facility.
A warehouse was donated to Pontotoc Habitat several years ago, and is located near its current location. The organization has performed renovations to the facility intermittently, and hopes that the grant funds will cover the remaining renovation costs. Once complete, the new building will provide more office and storage space, and Pontotoc Habitat will have full ownership of the facility.
"We have been excited about this new facility ever since it was donated to us," said Barbara Carter, executive director at Pontotoc Habitat. "It has been a slow process in getting the renovations done, and now that we have received these four grants, we hope to be moved in by the first of the year. It is all very exciting!"
The new building will consist of approximately 4,800 square feet, and will be in compliance with the Americans with Disabilities Act.
At the presentation, each bank presented a $5,000 PGP award to Pontotoc Habitat. PGP grants are awarded through FHLB Dallas member institutions to assist with the operational needs of nonprofit, community-based organizations involved in affordable housing and community development. Partnership grants are based on cash contributions of $500 to $5,000 made by FHLB Dallas member institutions, which FHLB Dallas matches at a 3:1 ratio. Each bank contributed $1,250 to Pontotoc Habitat, which resulted in the four $5,000 PGP awards, totaling $20,000 for the organization. FHLB Dallas awarded $225,000 in PGP grants this year.
Buddy Montgomery, president at First National Bank of Pontotoc, emphasized that community partnership is essential for community growth.
"Whether it's with local bankers or other components within the community, we all must work together for the worthy cause," said Mr. Montgomery. "First National Bank of Pontotoc welcomed the opportunity to serve Pontotoc County Habitat for Humanity, and we commend the leadership of FHLB Dallas for promoting community projects and rewarding worthy efforts of partners working together for the betterment of others."
Bryan McCutchen, executive vice president at BancorpSouth, also commented on Pontotoc Habitat's good work in the community.
"BancorpSouth has a long tradition of partnering with Habitat in many areas around our eight-state footprint, and Pontotoc Habitat is especially important to us because it is so close to our home office in Tupelo," said Mr. McCutchen. "At BancorpSouth, we feel that a community is most successful when its corporate citizens take an active role in developing every area of the community. In Pontotoc County, we see Habitat for Humanity as an important piece of the puzzle when developing a strong community. On behalf of BancorpSouth, I would like to congratulate the Pontotoc Habitat as they push forward in completing the warehouse renovations, and as they develop a more viable work environment from which to assist the citizens of Pontotoc County. We look forward to a continued partnership with Pontotoc Habitat to make our county a better place for everyone."
Jerry Robbins, division president at Renasant Bank, said the bank's motto is "greater service," and its meaning carries over to more than just banking and financial services.
"Renasant Bank is a strong advocate for serving our communities because we believe that without community development, there cannot be economic development," said Mr. Robbins. "We are proud to partner with our fellow community banks and Pontotoc Habitat to strengthen our community by providing grant funds to help it obtain a new headquarters. We believe this is truly 'greater service' in action."
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 $31.4 billion as of September 30, 2011, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to more than 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas.
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