HYDE-SMITH ANNOUNCES $94.9 MILLION IN CAPITAL GRANTS TO SUPPORT RURAL & UNDERSERVED COMMUNITIES
Treasury Dept. COVID-19 Grants Awarded to 52 Mississippi Financial Institutions
WASHINGTON, D.C. – U.S. Senator Cindy Hyde-Smith (R-Miss.) today announced the award of more than $94.9 million from the U.S. Treasury Department to 52 financial institutions throughout Mississippi as capital to spur more private-sector investments in local communities.
The funding is provided as COVID-19 relief funds through the Treasury Department’s Community Development Financial Institutions (CDFI) Rapid Response Program (RRP). The CDFI RRP grants are funded through the FY2021 Consolidated Appropriations Act, which was signed into law in December.
“The Rapid Response Program will allow these financial institutions in Mississippi to withstand the stresses of the pandemic and provide flexibility to support more private-sector investments in rural and underserved communities,” said Hyde-Smith, the ranking member of the Senate Financial Services and General Government Appropriations Subcommittee.
“In real terms, it means their having more capital on hand to help businesses and community facilities remain viable as we rebuild after a very difficult economic year,” she said.
The $94,965,780 awarded represents a $1,826,265 grant to each of the 52 CDFI RRP grantees in Mississippi. A CDFI can be a bank, credit union, loan fund, or venture capital fund. The Mississippi CDFI RRP award recipients include:
Bank of Anguilla, Anguilla
Bank of Commerce, Greenwood
Bank of Franklin, Meadville
Bank of Kilmichael, Kilmichael
Bank of Okolona, Okolona
Bank of Winona, Winona
BankFirst Financial Services, Columbus
BankPlus, Belzoni,
BNA Bank, New Albany
Citizens Bank, Columbia
Citizens National Bank of Meridian
Commerce Bank, Corinth
Commercial Bank, DeKalb
Copiah Bank, Hazlehurst
Covington County Bank, Collins
Culleywood Capital, Jackson
Farmers and Merchants Bank, Baldwyn
First American National Bank, Iuka
First Bank, McComb
First Federal Savings and Loan Association, Pascagoula
First National Bank of Picayune, Picayune
First Security Bank, Batesville
First Southern Bank, Columbia
First State Bank, Waynesboro
FNB Oxford Bank, Oxford
Genesis Bank, Benoit
Great Southern Bank, Meridian
Guaranty Bank & Trust, Belzoni
Holmes County Bank, Lexington
Hope Enterprise Corporation, Jackson
Hope Federal Credit Union, Jackson
Magnolia Federal Credit Union, Jackson
Magnolia State Bank, Bay Springs
Mechanics Bank, Water Valley
Merchants & Farmers Bank of Holly Springs
Merchants & Marine Bank, Pascagoula
Merchants & Planters Bank, Raymond
Oxford University Bank, Oxford
Peoples Bank, Mendenhall
Pike National Bank, McComb
Planters Bank & Trust Company, Indianola
PriorityOne Bank, Magee
Renaissance Community Loan Fund, Inc., Gulfport
Richton Bank and Trust Company, Richton
RiverHills Bank, Vicksburg
Sycamore Bank, Senatobia
Bank of Brookhaven, Brookhaven
The Cleveland State Bank, Cleveland
The First, A National Banking Association, Hattiesburg
The Jefferson Bank, Greenville
The Peoples Bank, Ripley
United Mississippi Bank, Natchez
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