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Amegy Bank and FHLB Dallas Award Grant to Assist Houston Homeowner With Critical Repairs

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HOUSTON, June 28, 2013 (GLOBE NEWSWIRE) -- Lorraine Jackson has lived in her home since it was built in 1963. She rented it for a number of years and then later purchased it from her landlord. She described her home as a modest wood frame house with a pier and beam foundation that was perfect for raising her only son.

But over the years, the moist Houston soil caused her home to shift, resulting in some serious foundation problems. In addition, her plumbing and drainage pipes were corroded and water was backing up onto her lawn. Ms. Jackson, 92, now lives alone and said she could not afford the repairs on her limited income.

Last spring, Ms. Jackson had more insulation put into her attic and the workman noticed the foundation and plumbing problems. He referred Ms. Jackson to Rebuilding Together-Houston, a nonprofit community outreach organization that partners with Amegy Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) to utilize the Special Needs Assistance Program (SNAP). With grant funding through SNAP, Rebuilding Together-Houston helps renovate and repair homes for elderly citizens who cannot physically or financially make improvements on their own. The organization currently has an extensive waiting list of local families needing assistance.

"We want our recipient families to be safe and proud of their homes, and the SNAP program provides us with the additional funding to do the work necessary to achieve this goal," said Jim Soller, executive director of Rebuilding Together-Houston. "There are so many elderly citizens in Harris County who need help improving their living conditions, and we are very grateful to our partners, Amegy Bank and FHLB Dallas, who have supported us year after year in helping these deserving families."

SNAP grants are awarded by FHLB Dallas through participating member institutions, such as Amegy Bank, to provide emergency home repairs and modifications for income-qualified, special-needs, and elderly homeowners. The program was implemented by FHLB Dallas in 2009, and has since awarded more than $6.3 million in SNAP grants throughout FHLB Dallas's five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and Texas.

"Amegy Bank has always had an active role in serving the needs of our community, and the SNAP program allows us to lend an extra helping hand," said Brian Stoker, senior vice president and community banking manager at Amegy Bank. "Rebuilding Together-Houston is doing some remarkable things for our local families, and it is our privilege to be a partner in their efforts."

Ms. Jackson received a $5,000 SNAP grant to repair her foundation and replace some of her plumbing to resolve the drainage issues. Ms. Jackson said she couldn't be happier and is truly grateful for all the help she received.

"I can't tell you how fortunate I feel to know that someone was looking out for me and the condition of my home," said Ms. Jackson. "My home is level and it is much easier for me to move about. I don't have to worry because my home is now properly supported. And with the drainage issue resolved, I don't have constant standing water in my yard. It's just wonderful. I am very pleased and thank everyone who helped me."

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 $31 billion as of March 31, 2013, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 900 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico, and Texas. For more information, visit the FHLB Dallas website at fhlb.com.

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

Source:Federal Home Loan Bank of Dallas