Federal Home Loan Banks

FHLBank San Francisco Awards $4 Million in AHEAD Grants to Invigorate Economic Opportunity in Underserved Communities

Retrieved on: 
Tuesday, September 12, 2023
Partnership, Education, Disability, Curriculum, Praxis, Woman, Black, Federal Home Loan Banks, Organization, CDFI, Housing, Economic development, Survivor, Lake of the Ozarks Community Bridge, Nursing

AHEAD grants are awarded annually and are intended to create economic opportunity by expanding proven development models or piloting new interventions. This year’s grant recipients support a diverse array of underserved groups, including low- to moderate-income households, individuals of diverse backgrounds -- including women, seniors, underserved youth, individuals with disabilities, formerly incarcerated individuals, the unhoused, and tribal organizations.

Key Points: 
  • 2023 AHEAD grants will support 75 innovative economic development initiatives throughout Arizona, California, and Nevada
    SAN FRANCISCO, Sept. 12, 2023 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) has awarded $4 million in Access to Housing and Economic Assistance for Development (AHEAD) economic development grants to help 75 local organizations boost economic opportunity in underserved communities throughout Arizona, California, and Nevada.
  • The grants, delivered through FHLBank San Francisco member financial institutions, are aimed at advancing innovative economic and community development initiatives that bring greater opportunity to underserved populations.
  • These program expansions demonstrate FHLBank San Francisco’s deep commitment to fostering economic vitality throughout the communities it serves.
  • To learn more about the AHEAD program and this year’s economic development grant recipients, visit the Bank’s website.

Texas State Affordable Housing Corporation Awards $23.5 Million in Private Activity Bonds to Foundation Communities to Finance Juniper Creek Apartments

Retrieved on: 
Thursday, September 7, 2023
Federal Home Loan Banks, Texas Department of Housing and Community Affairs, Housing, Homelessness, AHP, Pflugerville, Texas, The Learning Center for the Deaf, Child care, Risk, Texas State Affordable Housing Corporation, Pflugerville Independent School District, Wells Fargo, Private, Property management, Tourism, Central Texas

Austin, TX, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The Texas State Affordable Housing Corporation (TSAHC) has awarded $23.5 million in Private Activity Bonds to Foundation Communities to provide capital for the construction and development of Juniper Creek apartments.

Key Points: 
  • Austin, TX, Sept. 07, 2023 (GLOBE NEWSWIRE) -- The Texas State Affordable Housing Corporation (TSAHC) has awarded $23.5 million in Private Activity Bonds to Foundation Communities to provide capital for the construction and development of Juniper Creek apartments.
  • When complete, Juniper Creek will create 110 units of affordable rental housing targeted for low-income households.
  • Juniper Creek was also awarded $15.4 million in housing tax credit equity from the Texas Department of Housing and Community Affairs and a $750,000 Affordable Housing Program (AHP) grant from the Federal Home Loan Bank of Dallas.
  • “We are incredibly grateful to TSAHC for their financial support to make our dream of building Juniper Creek Apartments,” said Foundation Communities executive director Walter Moreau.

Kentucky First Federal Bancorp Releases Earnings

Retrieved on: 
Wednesday, September 6, 2023
Treasury, Asset–liability mismatch, FHLB, First Federal Savings and Loan Association Building, Risk, Economy, Tax, Coronavirus, Securities and Exchange Commission (Nigeria), Sale, Federal Home Loan Banks, KFFB, History of Federal Open Market Committee actions, Security (finance), Economic security, Federal Open Market Committee, Life insurance, Bank

Net earnings for the quarter ended June 30, 2023 totaled $42,000 or $0.00 basic and diluted earnings per share compared to net earnings of $206,000 or $0.02 per common share for the quarter ended June 30, 2022.

Key Points: 
  • Net earnings for the quarter ended June 30, 2023 totaled $42,000 or $0.00 basic and diluted earnings per share compared to net earnings of $206,000 or $0.02 per common share for the quarter ended June 30, 2022.
  • Kentucky First Federal Bancorp is the parent company of First Federal Savings and Loan Association of Hazard, which operates one banking office in Hazard, Kentucky and First Federal Savings Bank of Kentucky, which operates three banking offices in Frankfort, Kentucky, two banking offices in Danville, Kentucky and one banking office in Lancaster, Kentucky.
  • Kentucky First Federal Bancorp shares are traded on the Nasdaq National Market under the symbol KFFB.
  • At June 30, 2023, the Company had approximately 8,086,715 shares outstanding of which approximately 58.5% was held by First Federal MHC.

FHLBank Indianapolis announces 2023 Community Spirit Award winners

Retrieved on: 
Wednesday, September 6, 2023
Housing, Farmers' Bank of Rustico, Equity, Federal Home Loan Banks, Organization, Human resource management, Economic development, Small business, Inclusion, Bank, Credit union, SVP, Farmer

INDIANAPOLIS, Sept. 06, 2023 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis or Bank) has awarded the 2023 Community Spirit Award to Susan Ruch, Small Business Banker at The Farmers Bank in Frankfort, Ind., and Michelle LaClair-Ziembo, Human Resources Manager at United Bay Community Credit Union in Bay City, Mich.

Key Points: 
  • INDIANAPOLIS, Sept. 06, 2023 (GLOBE NEWSWIRE) -- The Federal Home Loan Bank of Indianapolis (FHLBank Indianapolis or Bank) has awarded the 2023 Community Spirit Award to Susan Ruch, Small Business Banker at The Farmers Bank in Frankfort, Ind., and Michelle LaClair-Ziembo, Human Resources Manager at United Bay Community Credit Union in Bay City, Mich.
  • Since 2007, the annual award has honored individuals at one of FHLBank Indianapolis’ member institutions in Indiana and Michigan who show an outstanding dedication to affordable housing and community economic development.
  • “It is a great pleasure to present this year’s Community Spirit Award to these two individuals who are so dedicated to their organizations and communities,” said MaryBeth Wott, SVP Community Investment & Strategic Planning Officer.
  • “Both exemplify excellence in more than one category for the Community Spirit Award and are great assets and champions for the communities in which they serve.”

Federal Home Loan Bank of Dallas: Family Farm Awarded $20K Grant to Recover from Devastating Tornado

Retrieved on: 
Friday, September 1, 2023
Banking, Professional Services, Finance, Federal Home Loan Bank Board, Farmer, Federal Home Loan Banks, Small business, Neighbourly (community investment platform), William P. and Rosa Lee Martin Farm, Soybean, Mississippi Delta, Multimedia, FHLB, Property insurance, Management, BankPlus Amphitheater

A family farm in the Mississippi Delta received a Federal Home Loan Bank of Dallas (FHLB Dallas) $20,000 Small Business Recovery Grant.

Key Points: 
  • A family farm in the Mississippi Delta received a Federal Home Loan Bank of Dallas (FHLB Dallas) $20,000 Small Business Recovery Grant.
  • The funds were awarded through FHLB Dallas member, BankPlus, to help the farm recover from a March tornado that substantially destroyed the business.
  • The Federal Home Loan Bank of Dallas and BankPlus provided a $20,000 grant for farm repairs.
  • But, once the tornado passed, she discovered that her home, the farm shop and farm equipment sustained heavy damage.

AM Best Affirms Credit Ratings of Wilton Re Ltd. and Its Subsidiaries

Retrieved on: 
Thursday, August 31, 2023
Consulting, Professional Services, Insurance, Finance, Federal Home Loan Banks, AM Best, Swings, Life, ERM, GAAP, Credit, Wilton, Sale, Allstate, FSR, Superior, Disease, Transamerica Corporation, Mortality, Long-Term Capital Management, Longevity, Ivari Padar, CPP Investment Board, Carpet, Risk management

AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the life/health subsidiaries of Wilton Re Ltd. (Nova Scotia, Canada), collectively known as Wilton Re.

Key Points: 
  • AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa-” (Superior) of the life/health subsidiaries of Wilton Re Ltd. (Nova Scotia, Canada), collectively known as Wilton Re.
  • AM Best also has affirmed the Long-Term ICRs of “a-” (Excellent) of Wilton Re Ltd. (Nova Scotia, Canada) and Wilton Re Finance LLC (Wilton Re Finance) (Delaware).
  • Concurrently, AM Best has affirmed the Long-Term Issue Credit Rating (Long-Term IR) of “a-” (Excellent) on the $300 million, 5.875% senior unsecured notes, due 2033, of Wilton Re Finance LLC.
  • The outlook of these Credit Ratings (ratings) is stable.

Blue Cross and Blue Shield of Minnesota accesses grant funding for first-time home buyers in partnership with Twin Cities Habitat for Humanity

Retrieved on: 
Thursday, August 31, 2023
Insurance, Federal Home Loan Banks, FHLB, Native, Health equity, AHP, Rehabilitation, Treasury, Blue Shield, Housing, Humanity, Blue Cross, Health, Mental health, SAINT, Minneapolis–Saint Paul, Health insurance, Bank

EAGAN, Minn. and SAINT PAUL, Minn., Aug. 31, 2023 /PRNewswire/ -- Blue Cross and Blue Shield of Minnesota (Blue Cross) today announced it has access to $160,000 in Affordable Housing Program (AHP) funds through its membership with the Federal Home Loan Bank (FHLB) of Des Moines. Blue Cross has entered into an agreement with Twin Cities Habitat for Humanity to have the charitable non-profit serve as underwriter and administrator for the grants, which will be available to qualifying first-time home buyers in Minnesota. Eligible households can receive a grant of up to $5,000 in down payment and closing cost assistance. 

Key Points: 
  • Blue Cross has entered into an agreement with Twin Cities Habitat for Humanity to have the charitable non-profit serve as underwriter and administrator for the grants, which will be available to qualifying first-time home buyers in Minnesota.
  • As a result of structuring this unique collaboration with Twin Cities Habitat for Humanity, Blue Cross has become the first health insurance member of FHLB of Des Moines to access AHP funds.
  • The opportunity to build upon our collaboration with Twin Cities Habitat for Humanity and provide additional resources for first-time home buyers is a privilege.
  • More information about Blue Cross and Blue Shield of Minnesota, including the health plan's commitment to racial and health equity, can be found at bluecrossmn.com/about-us/corporate-social-responsibility.

Stephen Thomas Joins Board of Directors for Fay Financial

Retrieved on: 
Thursday, August 31, 2023
Officer (armed forces), National Advisory Council (India), MBS, University, Senior, FHLB, Fannie Mae, Quontic Bank, National Housing Conference, Count Mercy House, Black, ROTC, Federal Home Loan Banks, ABS, Navy, Diversity, Mercy, Freddie Mac, Inclusion, Community development, Treasurer, Conference, Property management, Management

TAMPA, Fla., Aug. 31, 2023 /PRNewswire/ -- Fay Financial, an integrated real estate services provider, announced that Stephen Thomas has joined the Board of Directors for the firm. Thomas brings diversity and a wide range of industry experience to his new role with Fay.

Key Points: 
  • TAMPA, Fla., Aug. 31, 2023 /PRNewswire/ -- Fay Financial, an integrated real estate services provider, announced that Stephen Thomas has joined the Board of Directors for the firm.
  • Thomas brings diversity and a wide range of industry experience to his new role with Fay.
  • Stephen Thomas has joined the Board of Directors for Fay Financial, an integrated real estate services provider.
  • "Fay Financial has the vision, infrastructure, and executive team to accomplish some amazing things in this space and I look forward to working with the Board to do even more."

Flushing Bank Proudly Announces It Has Successfully Secured Two Grants From The Federal Home Loan Bank of New York’s Affordable Home Program

Retrieved on: 
Tuesday, August 29, 2023
Town, Housing, First National Financial Corporation, AHP, Federal Home Loan Banks, Hempstead House, Laurel Homes Historic District, Flushing, Building

UNIONDALE, N.Y., Aug. 29, 2023 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq: FFIC), the parent holding company for Flushing Bank (the “Bank”), announced today that it has successfully secured two grants from the Federal Home Loan Bank of New York through its Affordable Housing Program (AHP).

Key Points: 
  • UNIONDALE, N.Y., Aug. 29, 2023 (GLOBE NEWSWIRE) -- Flushing Financial Corporation (the “Company”) (Nasdaq: FFIC), the parent holding company for Flushing Bank (the “Bank”), announced today that it has successfully secured two grants from the Federal Home Loan Bank of New York through its Affordable Housing Program (AHP).
  • John R. Buran, President and CEO of Flushing Bank, stated: “We have been supporting affordable housing opportunities through a variety of lending programs for many years.
  • To date, with the addition of these two grants, we have sponsored $7.37 million dollars covering 497 affordable housing units through this program alone.
  • We appreciate the support provided by the Federal Home Loan Bank of New York that helps make affordable housing available to senior citizens and other underserved members of the community.

AM Best Affirms Credit Ratings of Sammons Financial Group, Inc. and Its Subsidiaries

Retrieved on: 
Tuesday, August 29, 2023
Insurance, Professional Services, Federal Home Loan Banks, AM Best, ALL, ERM, Marketing, Life, SFG, Long-Term Capital Management, Credit, Sammons Enterprises, Organization, Investment, Superior, AM, Bermuda, News, Security (finance)

In addition, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IRs) of Sammons Financial Group, Inc. (Delaware).

Key Points: 
  • In addition, AM Best has affirmed the Long-Term ICR of “a-” (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IRs) of Sammons Financial Group, Inc. (Delaware).
  • In addition, AM Best has affirmed the Long-Term ICR of “aa-” (Superior) of Sammons Financial Group Global Funding.
  • SFG maintains strong interest coverage ratios, and financial leverage remains well-within AM Best guidelines for its current ratings.
  • For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings .