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Photo Release -- NOVA Workforce Institute Awarded $20K in Partnership Grants

Community Banks Award $20K to NOVA
Federal Home Loan Bank of Dallas Logo

MONROE, La., Oct. 23, 2013 (GLOBE NEWSWIRE) -- BancorpSouth Bank, Community Trust Bank, Cross Keys Bank, IBERIABANK, Ouachita Independent Bank (OIB), Progressive Bank, and the Federal Home Loan Bank of Dallas (FHLB Dallas) are pleased to announce they have granted $20,000 in Partnership Grant Program (PGP) awards to NOVA Workforce Institute of Northeast Louisiana (NOVA). The checks were presented during a media event today at NOVA's offices inside the Monroe Chamber of Commerce.

Representatives from the Federal Home Loan Bank of Dallas, BancorpSouth Bank, Community Trust Bank, Cross Keys Bank, IBERIABANK, Ouachita Independent Bank, and Progressive Bank presented $20,000 in Partnership Grant Program awards to a Monroe, Louisiana, nonprofit.


A photo accompanying this release is available at http://www.globenewswire.com/newsroom/prs/?pkgid=21767

Louisiana State Senator Francis Thompson also attended the event. Senator Thompson lauded the community financial institutions for their support of a local organization.

"I am extremely proud to see this grant for NOVA being made by FHLB Dallas and these local banking entities," Senator Thompson said. "NOVA is a very important organization in our community that does excellent workforce development training. They have made a huge difference in this region to attract industry. Their sincere leadership and tenacity has afforded great opportunities to advance our community's workforce."

NOVA plans to use the PGP funds to assist with organizational capacity building, assistance in applying for grants or other funding services, or contractual services. NOVA connects the workforce needs of employers with Northeast Louisiana residents in search of living wage jobs and benefits.

"Today is a great example of partnerships being leveraged to allow NOVA the opportunity to impact lives through workforce development," said NOVA Executive Director Paul West. "We are honored to be a recipient of the Federal Home Loan Bank of Dallas Partnership Grant Program. This funding will enable us to continue fulfilling our mission as an employer driven workforce intermediary by connecting the workforce needs of employers with our local educational and training institutions and residents of Northeast Louisiana seeking living wage jobs with benefits and a career path."

Through the PGP, FHLB Dallas awards partnership grants through its member institutions to provide funding for the operational needs of community-based organizations involved in affordable housing and community development. FHLB Dallas matches a member's cash contribution 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 2013.

Six FHLB Dallas member institutions awarded partnership grants to NOVA.

BancorpSouth Bank and FHLB Dallas awarded $2,000 to NOVA.

"BancorpSouth is excited to partner again this year with the Federal Home Loan Bank of Dallas in making this contribution to NOVA," said L.J. Holland, BancorpSouth's Northeast Louisiana market president. "BancorpSouth believes in corporate citizenship and supporting organizations like NOVA, which are making valuable contributions to our communities. NOVA has made great strides in developing a work-ready workforce by utilizing the underemployed or unemployed individuals in our community, and we applaud its efforts."

Community Trust Bank and FHLB Dallas awarded $4,000 to NOVA.

"The Community Trust Bank culture revolves around enriching the lives of people in our community," said Joey McGinn, senior vice president of commercial lending at Community Trust Bank. "By partnering with other local banks and FHLB Dallas, it allows us to continue to make a difference in the futures of the people that benefit from NOVA's workforce development training. Community is not just part of our name; it's part of who we are and represents our commitment to seek out positive ways to make an impact in the areas we serve."

Cross Keys Bank and FHLB Dallas awarded 4,000 to NOVA.

"Cross Keys Bank's mission is to help our customers succeed," said Michael Vizard, president and CEO of Cross Keys Bank. "By their success we will succeed. We are pleased to make this grant through the FHLB Dallas' Partnership Grant Program to NOVA. Our hope is that this, along with the contributions of all of the other partners, truly makes a difference. NOVA's efforts give people who want to establish themselves with a living wage an opportunity to achieve their dreams of success and we are proud to be a part of that."

IBERIABANK and FHLB Dallas awarded $4,000 to NOVA.

"One of the hallmarks of IBERIABANK is supporting the communities we serve," said Greg Kahmann, IBERIABANK senior vice president, commercial lending. "Our support of NOVA's workforce development training program is a testament to helping to make Northeast Louisiana a vibrant and thriving region."

OIB and FHLB Dallas awarded $2,000 to NOVA.

"I am so proud to be affiliated with NOVA's workforce development efforts," said Patti Bates, vice president and human resources director at OIB. "This organization develops job skills and cultivates a strong work ethic. Many individuals who have utilized NOVA's resources benefit personally and professionally and, as a result, our community benefits."

Progressive Bank and FHLB Dallas awarded $4,000 to NOVA.

"At Progressive Bank, contributing to the advancement of the communities we serve is one of our four core missions," said Jeff Laudenheimer, vice president – private banking, at Progressive Bank. "With that in mind, we are pleased to have the opportunity to partner with FHLB Dallas to support NOVA's workforce development efforts in Northeast Louisiana."

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 12 district banks in the FHLBank System created by Congress in 1932. FHLB Dallas, with total assets of $32.7 billion as of June 30, 2013, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas.

The photo is also available via AP PhotoExpress.

CONTACT: Corporate Communications Federal Home Loan Bank of Dallas www.fhlb.com (214) 441-8445

Source:Federal Home Loan Bank of Dallas