Cadence Bank and FHLB Dallas Award $6K to Affordable Housing Nonprofit

BY Business Wire | AGENCY | 11/10/22 04:53 PM EST

Christmas in April Grenada Repairs Homes for the Elderly, Disabled and Families with Children

GRENADA, Miss.--(BUSINESS WIRE)-- Cadence Bank (CADE) and Federal Home Loan Bank of Dallas (FHLB Dallas) representatives awarded $6,000 in Partnership Grant Program (PGP) funding to Christmas in April Grenada (Christmas in April) during a ceremonial check presentation today.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221110006139/en/

Christmas in April, a Grenada, Mississippi, community organization, plans to use the grant toward expenses for social services. PGP grants help qualified nonprofit organizations fund a variety of operational and administrative activities.

?Christmas in April has repaired nearly 300 homes in this area,? said Ritchie Hampton, president of the DeSoto County, Mississippi, market at Cadence Bank (CADE). ?It?s good to be here today to celebrate their work and to provide some assistance for it.?

Awarded annually through FHLB Dallas? member institutions, PGP funds help promote and strengthen relationships between community-based organizations and FHLB Dallas members. FHLB Dallas matches member contributions of $500 to $4,000 at a 3:1 ratio.

?So many homeowners are placed in the position of choosing between paying for vital necessities, such as food and medicine, or for home repairs,? said Kim McRee, executive director of Christmas in April. ?With help from Cadence Bank (CADE) and FHLB Dallas, we can help so that they don?t need to make these difficult decisions.?

Christmas in April is one of nine nonprofits to receive PGP funding from Cadence Bank (CADE) this year. Together, Cadence Bank (CADE) and FHLB Dallas awarded $99,379 through FHLB Dallas to support community-based organizations in Arkansas, Mississippi, Louisiana and Texas.

?So many nonprofits operate on a shoestring budget, yet manage to do so much good for their communities,? said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. ?We?re thankful to be able to provide assistance through our member Cadence Bank.?

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 Cadence Bank (CADE)

Cadence Bank (CADE) is a leading regional banking franchise with approximately $50 billion in assets and nearly 400 branch locations across the South and Texas. Cadence provides consumers, businesses and corporations with a full range of innovative banking and financial solutions. Services and products include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialized lending, asset-based lending, commercial real estate, equipment financing, correspondent banking, SBA lending, foreign exchange, wealth management, investment and trust services, financial planning, retirement plan management, and personal and business insurance. Cadence is committed to a culture of respect, diversity and inclusion in both its workplace and communities. Cadence Bank (CADE), Member FDIC. Equal Housing Lender.

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 $89.6 billion as of September 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.

Source: Federal Home Loan Bank of Dallas

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

fir_news_article