Simmons Bank has received the first Disaster Rebuilding Assistance Program grant to assist a low-income Arkansas homeowner affected by severe storms leading to a federally declared disaster in Arkansas in June 2017, according to a news release.
The $10,000 grant funds are through the Federal Home Loan Bank of Dallas, Texas, (FHLB Dallas), according to the release.
Eiligible properties must be a household’s primary residence and be located in an area designated for individual assistance by the Federal Emergency Management Agency, according to the release.
“On June 5, 2017, Gov. Asa Hutchinson requested a major disaster declaration due to severe storms, tornadoes, straight-line winds, and flooding during the period of April 26 to May 19, 2017. On June 15, 2017, President Trump declared that a major disaster exists in the State of Arkansas,” according to the release.
Simmons will work with Crawford-Sebastian Community Development Council Inc. of Fort Smith to assist a homeowner.
Independent reporting for Pine Bluff & Jefferson County since 1879.
“We value the communities where we operate and continually seek ways to be a good corporate citizen and community partner,” said Martie North, Simmons Bank senior vice president and Community Reinvestment Act director.
The Disaster Rebuilding Assistance Program, founded in 2018, was designed to direct $500,000 in grant funds toward the repair of owner-occupied housing in federally declared disaster areas within FHLB Dallas’ district. FHLB Dallas operates in Arkansas, Louisiana, Mississippi, New Mexico and Texas.
The Disaster Rebuilding Assistance Program’s grant funds are distributed to member institutions on a first come-first serve basis until funds are exhausted or the member institution reaches a set cap.
FHLB Dallas is a part of the Federal Home Loan Bank System, according to a news release.