Project Grant 241BE066399G

The U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund awarded a $280,369 Project Grant under the Bank Enterprise Award (BEA) Program (CFDA 21.021) to Piggott State Bank on Sep 19, 2024. The BEA Program provides monetary awards to FDIC-insured depository institutions that demonstrate increased investments in certified CDFIs and expanded lending, investing, and service activities in economically distressed communities. Through this grant, Piggott State Bank will increase its levels of loans, investments, service activities, and technical assistance to residents and businesses in the most economically distressed communities. It will also 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.