Louisiana Nonprofit Receives Partnership Grant Program Funds

Red River Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas) awarded $16,000 in Partnership Grant Program (PGP) funding to the Greater Alexandria Economic Development Authority Revitalization Corp. (GAEDA) during a ceremonial check presentation Tuesday.

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Red River Bank and the Federal Home Loan Bank of Dallas awarded a $16,000 grant to GAEDA Revitalization Corp. in Alexandria, Louisiana. (Photo: Business Wire)

Promoting urban renewal, GAEDA renovates, restores and develops properties to reverse blight. It will use PGP funds to help cover the cost of social services for elderly adults and will sponsor seminars and workshops for low-income families.

“We feel honored to be celebrated by our financial partners,” said Willie Spears, executive director of GAEDA. “Thank you to Red River Bank and FHLB Dallas for continuing to believe in what we provide to families across Rapides Parish.”

Senior Vice President Jannease Seastrunk, Red River Bank’s community relations and CRA officer, said the PGP funds provide needed community support.

“Red River Bank is committed to investing in the community and the PGP is one way to fulfill that mission. We are appreciative that FHLB Dallas helps us stretch our community investment dollars, allowing us to provide greater support to nonprofits and build lasting relationships with them,” she said.

In 2022, FHLB Dallas and its members provided nearly $559,000 in PGP funds to 38 community organizations in its five-state District of Arkansas, Louisiana, Mississippi, New Mexico and Texas. See the complete list of the grant recipients and visit fhlb.com/pgp to learn more.

“We appreciate our partnership with Red River Bank,” said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. “This investment will assist families in Rapides Parish in obtaining homeownership education and, ultimately, affordable housing.”

About Red River Bank

Red River Bank is a Louisiana state-chartered bank established in Alexandria, Louisiana, in 1999 that provides a fully integrated suite of banking products and services tailored to the needs of its commercial and retail customers. Red River Bank operates from a network of 28 banking centers throughout Louisiana and one combined loan and deposit production office in New Orleans, Louisiana. Red River Bank is a subsidiary of Red River Bancshares, Inc., which trades under the trading symbol RRBI on the Nasdaq Global Select Market. Learn more at redriverbank.net.

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.

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