BATON ROUGE, La., April 16, 2012 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Dallas and Whitney Bank are pleased to announce that a $150,000 Affordable Housing Program (AHP) grant was awarded to Habitat for Humanity of Greater Baton Rouge (HFHGBR) to assist low-income families with down payment and closing costs.
The AHP grant will provide down payment and closing cost assistance to 15 very low- and low-income families in the greater Baton Rouge, Louisiana, area. The homes will be built in Baton Rouge, White Castle, Plaquemine, and St. Francisville, Louisiana.
The homes will be built on staggered construction schedules with all homes to be completed by December 2012.
"The Affordable Housing Program is just a wonderful opportunity for our families to make their housing even more affordable," said Lynn Clark, executive director of HFHGBR. "It is a great partnership between Habitat and FHLB Dallas. We are both interested in furthering affordable housing opportunities for low income families."
The AHP grant was awarded through Whitney Bank. FHLB Dallas awarded six AHP grants totaling $846,000 through Whitney Bank in 2011.
"Whitney is such a good corporate citizen in Baton Rouge and throughout Louisiana, and is really committed to helping low-income families achieve homeownership," said Ms. Clark.
Whitney Bank participates in several of FHLB Dallas's grant programs.
"Habitat for Humanity of Greater Baton Rouge helps to stabilize neighborhoods and families through its homeownership programs. The Federal Home Loan Bank of Dallas AHP grant is a key component in making this project a success," said Sunada Pool Brookins, vice president and community affairs officer for Whitney Bank.
Each year, FHLB Dallas returns 10 percent of its profits in the form of AHP grants made through its member institutions to benefit residents of communities in the Bank's five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas. Since 1990, the Bank, through its members, has assisted nearly 40,000 families with their affordable housing needs. In 2011, FHLB Dallas awarded $11 million in AHP grants to support 53 projects throughout the District, including more than $2.4 million to the state of Louisiana to help finance 350 new or rehabilitated housing units.
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 $33.8 billion as of December 31, 2011, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to more than 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit the FHLB Dallas website at fhlb.com.
The Federal Home Loan Bank of Dallas logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3013
About Whitney Bank
Hancock Holding Company is the parent company of Hancock Bank and Whitney Bank and has assets of approximately $20 billion. The company operates 258 bank branches and more than 350 ATMs across Mississippi, Louisiana, Alabama, Florida, and Texas. The Hancock Holding Company family of financial services companies also includes Hancock Investment Services, Inc.; Hancock Insurance Agency and Whitney Insurance Agency, Inc.; corporate trust offices in Gulfport and Jackson, Miss., New Orleans and Baton Rouge, La., and Orlando, Fla.; and Harrison Finance Company. Additional information is available at www.whitneybank.com.