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First National Bank of Phillips County
West Helena ARCDFI Awards for First National Bank of Phillips County
FA (2007) - $366,911
First Bank of the Delta, N.A., (FBD) has been in operation since 1931 and is located in Helena-West Helena, Arkansas. It is one of Southern Bancorp’s family of three commercial banks, which also include Delta Southern Bank and Elk Horn Bank & Trust. Southern Bancorp is a development bank holding company committed to helping transform rural economies by creating new trends of investment in people, jobs, businesses, and property. FBD offers a full range of banking services including commercial and consumer lending, depository services, brokerage services, and Internet banking. FBD will use its FY07 FA grant award to cover costs associated with the "Banking the Unbanked" project which includes three specific financial products: a Tax Refund Savings Account, a Stored Value card, and a Credit Builder CD. The award will cover costs associated with the provision of the development services, plus staff and marketing costs over the three year award period. The TA award will be used to conduct market research and assist with the development and pilot-testing of the new Stored Value Card, or checkless debit card.
BEA (2006) - $500,000
First National Bank of Phillips County has been selected to receive an award of $500,000 through the FY 2006 round of the Bank Enterprise Award Program for its support of the community through affordable housing development loans, small business loans, home improvement loans, education loans, and commercial real estate loans to underserved areas of West Helena, AR. First National Bank of Phillips County is a certified CDFI with $186 million in assets.
BEA (2003) - $660,946
First National Bank of Phillips County received an award of $660,946 for increasing its financing activities in economically distressed areas throughout Arkansas.
BEA (2000) - $218,435
First National Bank of Phillips County in Helena, Arkansas received a $218,435 award for increasing its consumer, commercial real estate, and small business lending in distressed areas of the Mississippi Delta region. The bank also made a $100,000 deposit in the Phillips County (AR) Self-Help Federal Credit Union, a certified Community Development Financial Institution (CDFI), and provided technical assistance to help the credit union improve its lending practices. First National also opened two individual development accounts for low-income Phillips County residents.
BEA (1997) - $7,500
First National Bank of Phillips County, of Helena, Arkansas, was awarded $7,500 for making a $50,000 equity investment in the Enterprise Corporation of the Delta (ECD), a certified CDFI.
(0) - $0
Other Community Development Financial Institutions in Arkansas
alt.Consulting
Pine Bluff
College Station Community Federal Credit Union
College Station
Community Resource Group, Inc.
Fayetteville
First National Bank of Phillips County
West Helena
South Arkansas Community Development
Arkadelphia
Southern Development Bancorporation
Arkadelphia
Southern Financial Partners
Arkadelphia
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