The Federal Deposit Insurance Corporation (FDIC)-insured Covington County Bank 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). The grant supports Covington County Bank's investments and support for certified CDFIs, as well as its community development financing and service activities in economically distressed communities. Specifically, the funding enables Covington County Bank to increase its lending, investments, and financial services to low- and moderate-income populations in underserved areas. This aligns with the BEA Program's goal of incentivizing FDIC-insured institutions to expand their community development activities and increase capital access in economically challenged regions. The grant period runs from September 19, 2024, to December 31, 2025.
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