Department of Treasury Announces $265 Million in NMTC Allocations to CDFI Banks
The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund has awarded $265 million to five CDFI banks and their affiliated entities, all of which are CDBA members. The CDFI bank awards are as follows: $50 million to Carver Financial Corporation, affiliated with Carver State Bank of Savannah, GA; $50 million to Harbor Bankshares Corporation, affiliated with The Harbor Bank of Maryland in Baltimore, MD; $50 million to SB New Markets CDE, LLC, affiliated with Sunrise Banks of Saint Paul, MN; $50 million to Southern Bancorp of Arkadelphia, AK; $65 million to UB Community Development LLC, affiliated with United Bank of Atmore, AL