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Families Affected by Disasters to Benefit from $16K in Grant Funds
[August 17, 2017]

Families Affected by Disasters to Benefit from $16K in Grant Funds


Hattiesburg, Mississippi-based nonprofit R3SM was awarded $16,000 in Partnership Grant Program (PGP (News - Alert)) funds through The First, A National Banking Association and the Federal Home Loan Bank of Dallas (FHLB Dallas) today. The funds will be used to offset operation and administration expenses including salaries for the construction manager, chief operating officer and office supplies.

This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20170817006064/en/

Hattiesburg, Mississippi-based nonprofit R3SM was awarded $16,000 in Partnership Grant Program funds ...

Hattiesburg, Mississippi-based nonprofit R3SM was awarded $16,000 in Partnership Grant Program funds through The First, A National Banking Association and the Federal Home Loan Bank of Dallas today. (Photo: Business Wire)

Representatives from the banks were joined by R3SM's leadership and Win Ellington, regional director for U.S. Senator Thad Cochran, at a check presentation today announcing the grants.

Daniel Jayroe, community development director for Hattiesburg Area Development Partnership, also attended the check presentation. He praised the partnership between the banks and the nonprofit.

"When disaster strikes, it's important to have the ability to call upon all possible resources," said Mr. Jayroe. "The PGP makes it easier for in-need families to access the necessary resources to put the pieces of their lives back together."

R3SM is a community-based organization established in 2006 in response to the damage caused by Hurricane Katrina. The focus of the nonprofit is to help restore lives afte a disaster, primarily by coordinating disaster case management and the repair and rebuild of homes.



"A lot of the people that we serve in the community do not have solid financial plans," said R3SM Chief Operating Officer Mavis Creagh. "Working with the banks allows us to continue to provide resources to our clients. In addition, the grant program serves as that missing financial link the community needs."

Jerome Brown, senior vice president and director of Community Development at The First, A National Banking Association, said the PGP supports his institution's mission to serve the community.


"As a community bank, our priority is serving the very community that supports us," said Mr. Brown. "Our commitment to serve the community is strengthened by the PGP and our partnership with FHLB Dallas."

The structure of the PGP enables FHLB Dallas member institutions like The First, A National Banking Association to make a contribution of $500 to $4,000 to a community-based organization (CBO), which FHLB Dallas will match at a 3:1 ratio. In 2016, FHLB Dallas awarded $225,000 in PGP funds to assist 23 CBOs. Combined with the $96,200 from member institutions, a total of $321,200 was awarded last year.

"The Partnership Grant Program is a valuable community investment tool because it facilitates the expansion of nonprofits' agendas, as well as adds value to our members' relationships with those nonprofits," said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas.

To learn more about the PGP, visit fhlb.com/pgp.

About The First Bancshares

The First Bancshares, Inc. is a bank holding company for The First, A National Banking Association (the Bank). The Company and the Bank engage in a general commercial and retail banking business for small to medium-sized businesses, professional concerns and individuals. The Bank provides a range of banking services in its primary market area of South Mississippi, South Alabama, Northern Florida and Louisiana. The Bank offers a range of commercial and personal loans. Commercial loans include both secured and unsecured loans for working capital (including loans secured by inventory and accounts receivable), business expansion (including acquisition of real estate and improvements), and purchase of equipment and machinery. The Bank offers a range of deposit services, including noninterest-bearing accounts, negotiable order of withdrawal (NOW) accounts, money market accounts, savings accounts and time deposits.

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 $62.9 billion as of June 30, 2017, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 850 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. Visit fhlb.com for more information.


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