Three Banks Partner with FHLB Dallas to Award More Than $14K to Monroe Nonprofit

NOVA Workforce Institute Awarded Partnership Grant Program Funds

NOVA Workforce Institute of Northeast Louisiana (NOVA) received $14,500 in Partnership Grant Program (PGP) funds. Representatives from Cadence Bank, Origin Bank and Progressive Bank joined the Federal Home Loan Bank of Dallas (FHLB Dallas) to award the grants during a ceremonial check presentation in Monroe, Louisiana, last week.

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Representatives from Cadence Bank, Origin Bank, Progressive Bank and the Federal Home Loan Bank of Dallas awarded more than $14,000 in grants during a ceremonial check presentation last week. Seen here is a contribution from Progressive Bank. (Photo: Business Wire)

The following FHLB Dallas members provided funding, which includes the maximum match from FHLB Dallas:

Cadence Bank: $9,063

Origin Bank: $3,625

Progressive Bank: $1,812

FHLB Dallas provides up to a 3:1 match of member contributions to provide a match of up to $12,000 per member to promote and strengthen relationships between community-based organizations and FHLB Dallas members.

NOVA identifies and connects the workforce needs of employers with educational and training entities by assisting individuals with living-wage careers and employment.

“Our community partners have provided great assistance to us over the years to allow us to serve Monroe residents and beyond,” said Paul West, executive director of NOVA. “I’m extremely appreciative of these three banks and the PGP match through FHLB Dallas. Our community is better for it.”

In 2022, FHLB Dallas awarded $400,000 in PGP funds, and its members provided an additional $158,895 in funding for an impact of nearly $559,000 to 38 community organizations in its five-state District of Arkansas, Louisiana, Mississippi, New Mexico and Texas.

“We have seen and supported the incredible work of this organization for years now,” said Chris Windham, president-Northeast Louisiana Division for BancorpSouth Bank, a division of Cadence Bank. “We are thankful for the 3:1 PGP match to make our investment even more impactful.”

Origin Bank is focused on making impactful relationships with the communities they serve.

“The PGP allows Origin Bank to make a great impact in Monroe and other cities we service,” said Shelia Grayson, vice president, CRA and community development officer at Origin Bank. “We didn’t think twice about supporting NOVA because of the life-changing services they’re providing in the community.”

Kelly Shambro, senior vice president of communications and marketing director at Progressive Bank, said they appreciate NOVA’s work.

“NOVA has provided so much to the community to assist individuals with navigating their futures, and the PGP is a wonderful way to enhance their impact,” she said.

Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas, said it was happy to support its members’ partnerships with NOVA.

“These FHLB members are trusted partners in their respective communities,” he said. “We applaud NOVA for providing life-changing economic opportunity that is changing lives.”

See the complete list of the 2022 PGP grant recipients. For more information about the 2022 PGP grants and other FHLB Dallas community investment products and programs, please visit fhlb.com/pgp.

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 $77.7 billion as of June 30, 2022, serves approximately 800 members and associated institutions across our five-state District of Arkansas, Louisiana, Mississippi, New Mexico and Texas. FHLB Dallas provides financial products and services including advances (loans to members) and grant programs for affordable housing and economic development. For more information, visit our website at fhlb.com.

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