The Federal Deposit Insurance Corporation (FDIC)-insured American Bank & Trust Company received a $280,369 Project Grant award under the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund Bank Enterprise Award (BEA) Program (CFDA 21.021). This grant supports the bank's increased investments and support for certified Community Development Financial Institutions (CDFIs) as well as its expanded community development financing and service activities in economically distressed communities. The award period is from September 19, 2024, to December 31, 2025. The BEA Program provides monetary incentives to FDIC-insured banks and thrifts to increase their community development activities, such as affordable housing financing, small business support, and tailored financial products for low- and moderate-income populations in underserved areas.
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