The Federal Home Loan Bank of Dallas (FHLB Dallas) has awarded a $225,000 Affordable Housing Program (AHP) grant to Immerse Arkansas, facilitated through FHLB Dallas member Arvest Bank. The grant will fund the construction of a new homeless shelter for young adults in Little Rock, Arkansas. Public officials gathered to celebrate the shelter’s grand opening today.
“The support from FHLB Dallas and Arvest has been crucial in covering the construction costs of the shelter,” said Immerse Arkansas Executive Director Eric Gilmore. “We are deeply grateful for their partnership.”
The Station, operated by Immerse Arkansas, will offer temporary housing to runaways, youth transitioning out of the foster care system, victims of human trafficking, and homeless young adults aged 18-24.
“Our mission is to help young adults in crisis become whole and resilient individuals,” Gilmore added. “The funding from FHLB Dallas and Arvest has made this project possible.”
AHP funds are designated to assist FHLB Dallas members with the purchase, construction, and/or rehabilitation of owner-occupied, rental, transitional housing, and housing for homeless individuals. These funds are intended for households with incomes at or below 80 percent of the area median income.
“We are excited to celebrate the opening of this important shelter with Immerse Arkansas and the state of Arkansas,” said Virgil Miller, Arvest Bank Group CRA Director. “This shelter addresses a critical need, and the FHLB Dallas AHP grant played a key role in bringing it to fruition.”
Greg Hettrick, Senior Vice President and Director of Community Investment at FHLB Dallas, noted Arvest Bank’s longstanding support of FHLB Dallas community programs. “We are proud of the positive impact the AHP grant will have in Little Rock and appreciate Arvest’s active involvement in utilizing our community investment grants,” Hettrick said.
For more information about the AHP, visit fhlb.com/ahp.
About Arvest Bank
Arvest Bank, with over $26 billion in assets, is a community-focused financial institution serving more than 110 communities across Arkansas, Kansas, Missouri, and Oklahoma. Established in 1961, Arvest Bank is dedicated to meeting the needs of over 830,000 retail and business customers by investing in digital tools and services. Its network of more than 200 banking locations offers a range of services including loans, deposits, treasury management, credit cards, mortgage loans, and mortgage servicing. Arvest is committed to its communities and to fostering a diverse workforce. It is an Equal Housing Lender and Member FDIC. For more information, 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, established by Congress in 1932. With total assets of $126.2 billion as of June 30, 2024, FHLB Dallas 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 fhlb.com.
