LEXINGTON, Miss., Jan. 11, 2011 (GLOBE NEWSWIRE) -- BankPlus and the Federal Home Loan Bank of Dallas (FHLB Dallas) are pleased to announce that they have awarded a $6,000 Partnership Grant Program (PGP) award to Lexington Revitalization Association.
Lexington Revitalization Association, which operates as Lexington Main Street Association, is a nonprofit organization that promotes Lexington's downtown and surrounding business district. The organization plans to use the PGP funds to assist with beautification of the town square, including landscaping, brick replacement, and new trash cans. The funds will also be used to purchase new office equipment.
"We appreciate BankPlus and all they have done for us over the years, especially in letting us know the partnership grant was available," said Arlene Easterling, manager for Lexington Main Street.
The funds could not have come at a better time.
"The organization has been struggling with funding for the last several years because of the economic situation," said Darlene Ware, a vice president at BankPlus and a member of Lexington Main Street's board.
Partnership grants are offered through FHLB Dallas member institutions, such as BankPlus, on a first-come, first-served basis. The grants provide funding for operational needs of community-based organizations involved in affordable housing and community development. FHLB Dallas matches members' cash contributions to a community-based organization of $500 up to $5,000 at a 3:1 ratio. Through its member institutions, FHLB Dallas awarded $225,000 in partnership grants in 2010.
BankPlus and FHLB Dallas awarded $26,000 in PGP awards in 2010, including a $20,000 award to Habitat for Humanity of Pearl River County.
"BankPlus is not immune to budget cuts in this economy, and one of the items we have had to consider is contributions," said Mark Ouellette, vice president and director of affordable housing at BankPlus. "FHLB Dallas has been a great partner in helping us leverage the money we will contribute to organizations, so that they have the funds to continue doing the things in our community that they have been doing for years."
About BankPlus
BankPlus, with total assets of more than $2.2 billion, has over 60 banking offices in 33 Mississippi communities. In addition to its Belzoni Main Office, other BankPlus offices are located in Bentonia, Brandon, Byram, Canton, Clinton, D'Iberville, Durant, Flora, Flowood, Gluckstadt, Hernando, Holly Bluff, Horn Lake, Isola, Jackson, Lexington, Madison, Meridian, Newton, Ocean Springs, Olive Branch, Pearl, Picayune, Pickens, Poplarville, Quitman, Ridgeland, Shubuta, Southaven, Stonewall, Tchula, Waynesboro and Yazoo City. For additional information on BankPlus, please visit www.bankplus.net.
About the Federal Home Loan Bank of Dallas
The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBankSystem created by Congress in 1932. FHLB Dallas, with total assets of $51.6 billion as of September 30, 2010, 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 web site at fhlb.com.
The Federal Home Loan Bank of Dallas logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3013
CONTACT: Corporate Communications Federal Home Loan Bank of Dallas www.fhlb.com (214) 441-8445
