Hancock Resource Center Helping Vulnerable Communities with Support of The First and FHLB Dallas

News provided by

Oct 27, 2014, 04:21 ET

BAY ST. LOUIS, Miss., Oct. 27, 2014 /PRNewswire-USNewswire/ -- Empowered with a $140,000 Affordable Housing Program (AHP) grant, the Hancock Resource Center (HRC) is moving forward with its plans to rehab 20 low-income, owner-occupied homes in rural Hancock County in Mississippi. This project is made possible in part because the Federal Home Loan Bank of Dallas (FHLB Dallas), through The First – A National Banking Association (The First), a member institution of FHLB Dallas, provided this substantial grant.

Federal Home Loan Bank of Dallas Logo

"Our member institutions are game changers in their communities," says Bre Chapman, senior vice president and chief administrative officer with FHLB Dallas. "They collaborate with community partners to identify and solve social issues and concerns. We are thrilled to be able to support them in these efforts."

According to Rhonda Rhodes, HRC president, at least 50 percent of the homes that will be selected for rehab are owned by people with special needs. All are low-income, and many are senior citizens. In addition to the $140,000 AHP grant from FHLB Dallas, HRC has received a grant from Neighborworks America, and $20,000 from the Gulf Coast Renaissance Corporation.

"We are committed to helping our communities' most vulnerable residents," says Ms. Rhodes. "By improving their substandard living conditions, we are not only rebuilding neighborhoods, we are restoring hope."

Jerome Brown, senior vice president and director of community development with The First, says Hancock County has a long-term housing plan to improve the availability and affordability of safe housing for its residents.

"This is our community, and many of our residents who benefit from programs such as this are our customers. It is our privilege to be able to work with organizations such as HRC, and we are thankful FHLB Dallas is supporting us in our efforts," Mr. Brown said.

About The First – A National Banking Association

The First – A National Banking Association ("The First") is owned by the holding company, The First Bancshares, Inc. Incorporated on June 23, 1995, the holding company is located in Hattiesburg, Mississippi. The First began operating on August 5, 1996, from its main office in the Oak Grove community in Hattiesburg. The First has aggressively expanded since its beginning with the acquisition of First National Bank of Wiggins in 2006, the acquisition of eight Whitney Bank branches in 2011, the de novo expansion in Ocean Springs in 2013, the acquisition of First National Bank of Baldwin County in 2013, the acquisition of Bay Bank in Mobile, Alabama in 2014 and the de novo expansion in Baton Rouge, Louisiana in 2014. The Bank currently has 31 offices in Mississippi, Louisiana, and Alabama.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHL Bank 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.

Contact:

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

Logo - http://photos.prnewswire.com/prnh/20140729/130876

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/hancock-resource-center-helping-vulnerable-communities-with-support-of-the-first-and-fhlb-dallas-574797172.html

SOURCE Federal Home Loan Bank of Dallas