Project Grant 241BE066419G

The federal Project Grant award of $280,369 was provided by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund under the Bank Enterprise Award (BEA) Program (CFDA 21.021). The purpose of the BEA Program is to provide monetary awards to FDIC-insured depository institutions (i.e., banks and thrifts) that demonstrate increased investments and support to certified Community Development Financial Institutions (CDFIs), or increased lending, investing, and service-related activities in the most economically distressed communities.

The award to Riverhills Bank, a certified CDFI, will enable the bank to expand its financial assistance and technical assistance to residents and businesses in the most economically distressed communities through activities such as equity investments, equity-like loans, grants, stock purchases, loans, deposits, and other forms of support. 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.