Vicksburg bank to receive $1.8 million grant from $94.9 million Mississippi award

In a press release from U.S. Senator Cindy Hyde-Smith:

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