Louisiana Nonprofit Receives $5K Grant from BancorpSouth Bank and FHLB Dallas

Business Wire 31-Jan-2019 10:49 AM

Funds Will Be Used to Hire Executive Director for Re-Entry Solutions

Reintegration into society might get easier for Louisiana residents affected by arrest or incarceration, thanks in part to $5,000 in Partnership Grant Program (PGP) funds from BancorpSouth Bank and the Federal Home Loan Bank of Dallas (FHLB Dallas). The funds were awarded to Re-Entry Solutions, which provides education, employment and housing resources to Louisiana residents affected by arrest or incarceration,

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Re-Entry Solutions will hire a new executive director, thanks in part to a $5,000 partnership grant from BancorpSouth Bank and FHLB Dallas. (Photo: Business Wire)

The funds will be used to hire an executive director for Re-Entry Solutions, relieving Founder Candy Christophe of her eight-year post as volunteer executive director.

"The funds will help us get an executive director in place, who can continue the work that I have started with Re-Entry Solutions," said Ms. Christophe. "It will have a beneficial economic impact on the community because our goal is to keep families together by providing job placement assistance," she said.

The funds were awarded at a ceremonial check presentation yesterday in Alexandria, Louisiana. This is the organization's second PGP award. Representatives from the banks, organization and the office of U.S. Senator John Kennedy (R-LA) attended the event.

Once known as the "prison capital of the world," Louisiana's incarceration rate has decreased, thanks in part to reformed legislation and services such as Re-Entry Solutions that work to break the cycle of incarceration. Ms. Christophe first conceived of the organization when she heard a sermon that she couldn't forget.

"In the sermon, the pastor said, ‘it's time for us to stop waiting for a program. It's time for us to be the program.' I knew then that I had to do something to help my community," she said.

BancorpSouth Bank South Louisiana Division President Eugene Scriber said the PGP aligns with the bank's commitment to serving the community.

"Re-Entry Solutions provides a second chance to individuals in need," Mr. Scriber said. "The PGP funds help us further Re-Entry Solutions' noble mission, as well as strengthen our relationship with the organization."

The structure of the PGP enables FHLB Dallas member institutions like BancorpSouth Bank to contribute $500 to $4,000 to a community-based organization (CBO), which FHLB Dallas will match at a 3:1 ratio. In 2018, FHLB Dallas awarded $300,000 in PGP funds through 31 member institutions to assist 32 CBOs. Combined with the $114,010 contributed by FHLB Dallas members, a total of $414,010 has been awarded to the organizations.

"One of the unique aspects of the PGP is that FHLB Dallas matches our member's funds 3 to 1," said Greg Hettrick, first vice president and director of Community Investment at FHLB Dallas. "Not only do the funds go a little farther, but they also help our members support missions they believe in."

Ms. Christophe – who will officially step down as volunteer executive director on February 1 – said the grant funds came at the right time.

"Eight years is a long time and I can't say this enough – people are worth investing in. I don't regret the sacrifice. We cannot say ‘thank you' enough to those who join us in making this world a better place."

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

About BancorpSouth Bank

BancorpSouth Bank (NYSE:BXS) is headquartered in Tupelo, Mississippi, with approximately $18 billion in assets. BancorpSouth operates approximately 285 full service branch locations as well as additional mortgage, insurance, and loan production offices in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas, including an insurance location in Illinois. BancorpSouth is committed to a culture of respect, diversity, and inclusion in both its workplace and communities. To learn more, visit our Community Commitment page at bancorpsouth.com; "Like" us on Facebook; follow us on Twitter@MyBXS; or connect with us through LinkedIn.

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 $73.7 billion as of September 30, 2018, is a member-owned cooperative that supports housing and community development by providing competitively priced advances and other credit products to approximately 825 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. Visit fhlb.com for more information.

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