Arvest Bank and FHLB Dallas Award $225,000 for Youth Homeless Shelter

• August 08, 2024

Immerse Arkansas Executive Director Eric Gilmore, left, shakes hands with Little Rock Mayor Frank Scott Jr. after cutting the grand opening ribbon for The Station, a homeless shelter for at-risk young adults in Little Rock, Arkansas.LITTLE ROCK, ARKANSAS, August 8, 2024 - The Federal Home Loan Bank of Dallas (FHLB Dallas) awarded Immerse Arkansas a $225,000 Affordable Housing Program (AHP) grant through FHLB Dallas member Arvest Bank to build a homeless shelter for young adults in Little Rock, Arkansas. Public officials gathered today to celebrate the shelter's grand opening.

The Station, operated by Immerse Arkansas, provides temporary housing for runaways, youth aging out of the foster care system, victims of human trafficking and homeless young adults, ages 18-24.

"Our goal is to help young adults in crisis become whole and resilient people," said Immerse Arkansas Executive Director Eric Gilmore. "We are deeply grateful for the partnership of FHLB Dallas and Arvest on this project, which helped us to fund construction costs of the shelter."

AHP funds are intended to assist FHLB Dallas members in financing the purchase, construction and/or rehabilitation of owner-occupied, rental or transitional housing, and housing for homeless individuals. The funds must be used to benefit households with incomes at or below 80 percent of the area median income.

"We are thrilled to celebrate with Immerse Arkansas and the entire state on the opening of this unique shelter that serves young adults," said Arvest Bank Group CRA Director Virgil Miller. "This shelter meets a critical need in our state, and the FHLB Dallas AHP grant helped make it a reality."

Greg Hettrick, senior vice president and director of Community Investment at FHLB Dallas, said Arvest Bank has been a long-time supporter of FHLB Dallas community programs.

"We are proud of the good the AHP grant will do in Little Rock and value Arvest's active use of our community investment grants," Mr. Hettrick said.

For more information about the AHP, visit fhlb.com/ahp.

About Arvest Bank
With more than $26 billion in assets, Arvest Bank is a community-based financial institution serving more than 110 communities in Arkansas, Kansas, Missouri and Oklahoma. Established in 1961, Arvest Bank is committed to meeting the needs of its more than 830,000 retail and business customer households by continually investing in the digital tools and services customers expect. Its extensive network of more than 200 banking locations provides loans, deposits, treasury management, credit cards, mortgage loans and mortgage servicing as a part of its growing list of digital services. Arvest is known for its commitment to the communities it serves and to attracting, hiring and retaining a diverse group of talented people. Arvest is an Equal Housing Lender and Member FDIC. To learn more please visit www.arvest.com.

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 $126.2 billion as of June 30, 2024, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit our website at fhlb.com.

Contact Information:

Corporate Communications
Federal Home Loan Bank of Dallas
fhlb.com
214.441.8445

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