First American National Bank

First American National Bank is an FDIC-insured depository institution that provides banking and financial services. Through various federal grant programs, the bank has received funding to expand lending, investments, services, and technical assistance in underserved communities, as well as to increase support of Community Development Financial Institutions (CDFIs).

Specifically, First American National Bank has been awarded multiple grants from the Department of the Treasury's Community Development Financial Institutions Fund (CDFI Fund) including the Bank Enterprise Award Program, the CDFI Rapid Response Program, and the CDFI Equitable Recovery Program. As a prime recipient, the bank has used these grant funds to increase lending to small businesses and consumers, provide financial counseling, make equity investments in CDFIs, offer grants to CDFIs, and build organizational capacity through technology upgrades and staff training. In total, First American National Bank has been awarded over $6 million in CDFI grants since 2019 to carry out community development activities, prepare for and respond to the economic impacts of the pandemic, and promote equitable economic recovery in underserved communities disproportionately affected by COVID-19.