Community Development Bankers Association Press Release

WASHINGTON (September 24, 2013) – Eight CDBA Members received $9.526 million of a total of $12.3 million in awards to CDFI banks in the FY 2013 funding round of the CDFI Program. $172 million in awards were distributed in total by the CDFI Fund. Six of the eight CDBA members were awarded the maximum amount of $1,347,000.

The following CDBA members have received CDFI Core (Financial Assistance) Awards:

•Central Bancshares of Kansas City (Central Bank of Kansas City) (Kansas City, Mo.) – Core $597,000 
•CityFirst Enterprises (City First Bank of DC) (Washington, D.C.) – Core $847,000
•First Eagle Bancshares (First Eagle Bank) (Hanover Park, Ill.) – Core $1,347,000 
•Guaranty Capital Corporation (Guaranty Bank) (Belzoni, Miss.) – Core $1,347,000
•Greater Chicago Financial Corp (ABC Bank) (Chicago, Ill.) – Core $1,347,000
•OnePacific Coast Bancorp (OnePacific Bank) (Oakland, Calif.) – Core $1,347,000
•Southern Bancorp Bank (Arkadelphia, Ark.) – Core $1,347,000
•Virginia Community Capital (Virginia Community Capital Bank) (Christiansburg, Va.) – Core $1,347,000

The following non-CDBA CDFI banks and holding companies also received CDFI Fund Core and SECA Awards totaling $2.794 million: 

•Carver Financial Corporation (Carver State Bank) (Savannah, Ga.) – SECA $600,000
•Liberty Financial Services Corporation (New Orleans, La.) – Core $1,347,000
•PGB Holdings (Global Pacific Bank) (Chicago, Ill.) - Core $847,000

The CDFI Fund made 191 awards totaling more than $150 million to organizations in 37 states and the District of Columbia. The Fund received applications from 400 organizations, of which 389 were deemed eligible to advance to the review process. The Fund reported that 148 FA and 43 TA awards were made to 143 loan funds, 35 credit unions, 11 depository institutions/holding companies and 2 venture capital funds.

The 11 bank depository institutions/ holding companies received awards totaling $12.32 million (8.2% of the total awards). This is the largest number of bank depository institutions/holding companies to receive awards in recent years.