Project Grant 241BE066364G

The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund awarded a $236,356 Project Grant to Community Bank on September 19, 2024 through the Bank Enterprise Award (BEA) Program (CFDA 21.021). The BEA Program provides monetary awards to FDIC-insured depository institutions that demonstrate increased investments in certified CDFIs or expanded lending, investing, and service activities in economically distressed communities.

The grant supports Community Bank's planned activities to increase its levels of loans, investments, service activities, and technical assistance to residents and businesses in the most economically distressed communities. Additionally, the funding will provide financial assistance and technical assistance to certified CDFIs through equity investments, equity-like loans, grants, stock purchases, loans, deposits, and other forms of assistance. The expected outcomes include demonstrated increased investments and support to certified CDFIs or in the recipient's lending, investing, or service-related activities in the most economically distressed communities.