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Retiree Awarded $5K for Home RepairsSeventy-four-year-old retired truck stop worker Betty Smith has lived in her Fordyce, Arkansas, home since it was built 20 years ago. When her roof started leaking, she worried that her fixed income wouldn't cover the repairs. Ms. Smith received $5,650 in Special Needs Assistance Program (SNAP) grant funds from the Federal Home Loan Bank of Dallas (FHLB Dallas) and FBT Bank and Mortgage. The grant was used to repair the drywall, replace the ceiling tile and paint all the rooms in her home. SNAP grants assist income-qualified, special-needs homeowners with necessary home repairs and modifications. The grants are awarded by FHLB Dallas through participating member institutions, such as FBT Bank and Mortgage. "One of the responsibilities of a community bank is to serve the community, especially the vulnerable population," said Scott Smith, vice president of FBT Bank and Mortgage. "Partnering with FHLB Dallas helps us fulfill that responsibility." Since SNAP's inception in 2009, more than $11.6 million has been awarded in grants through FHLB Dallas member institutions to assist more than 2,300 families across FHLB Dallas' five-state District of Arkansas, Louisiana, Mississippi, New Mexico and Texas. In 2016, FHLB Dallas awarded nearly $1 million in SNAP grants that assisted 205 families. The $1.5 million in 2017 SNAP fundin, made available in January on a first-come, first-served basis, has been exhausted. "The SNAP grant program has been a great opportunity for residents living on a fixed income," said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. "Working with FBT Bank and Mortgage to help those in need is a privilege and essential to making critical repairs to residents' homes." FBT Bank and Mortgage has utilized SNAP in partnership with FHLB Dallas since the program's inception in 2009. Since then, they have assisted 57 families by awarding $355,455 in SNAP grants. "When you get your house repaired, everything is better," said Ms. Smith. "The house is more comfortable and I'm just happier than I was before." To learn more about SNAP, visit fhlb.com/snap. About FBT Bank and Mortgage FBT Bank and Mortgage is a full service bank established in 1931. Now operating in five locations, FBT Bank and Mortgage is focused on the communities it serves, offering state-of-the-art products and services while delivering personalized attention to customers. To learn more, go to fbtbank.com. 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 $57.5 billion as of March 31, 2017, is a member-owned cooperative that supports housing and community investment by providing competitively priced loans and other credit products to approximately 850 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit fhlb.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170720005789/en/ |
