First Vernon Bancshares, Inc.
Vernon, AL
- UEI
- KNCPL6JNHYR9
- CAGE
- 716C6
- Primary NAICS
- Not on record
- SAM.gov registration
- Active through
Company facts
- Self-certified in SAM.gov
- Entity structure
- Corporate Entity (Not Tax Exempt)
- SAM.gov registration date
- Physical address
- 44825 AL-17, Vernon, AL 35592, USA
- Website
- bankofvernon.bank
- Employees
- 1-10
- Estimated annual revenue
- $0-$1M
- Industry
-
- Financials
- Banks
- Banking & Mortgages
- SIC code
- 60 Depository Institutions
- Profiles
Registration and certifications come from SAM.gov and the SBA; company details from public web sources. Updated .
Grant awards
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About the company
First Vernon Bancshares, Inc. is a for-profit corporate entity registered in SAM.gov, located in Vernon, Alabama, with an active registration through October 31, 2025. As a financial institution, the company specializes in providing financial products and services to underserved communities, with a particular focus on rural and urban areas that lack adequate access to affordable financial services. The organization has been consistently awarded federal grants from the Community Development Financial Institutions (CDFI) Fund, which is part of the U.S. Department of the Treasury, indicating its commitment to economic development and community revitalization.
Through its federal grant awards, First Vernon Bancshares, Inc. has received four consecutive CDFI Program grants totaling approximately $2.24 million between 2020 and 2024. These project grants are specifically designed to build the bank's capacity to deliver financial products, services, loan loss reserves, and capital reserves to economically disadvantaged communities. The grants support the bank's efforts to create jobs, build businesses, and foster economic self-determination in low-income areas. Each grant award, ranging from $476,530 to $1,285,000, enables the organization to expand its lending and investment activities, with performance periods typically spanning three to four years. The grants do not indicate any subrecipient activities or partners, suggesting First Vernon Bancshares, Inc. directly implements its community development initiatives under the CDFI Program (CFDA 21.020), with the ultimate goal of providing sustainable financial services to populations traditionally underserved by mainstream banking institutions.
Quick answers
Is First Vernon Bancshares, Inc. registered in SAM.gov?
Yes. First Vernon Bancshares, Inc.'s SAM.gov registration is active through June 9, 2027.
What is First Vernon Bancshares, Inc.'s most recent federal award?
First Vernon Bancshares, Inc.'s most recent federal grant award is To promote economic revitalization and community development through investment in and financial assistance to… (241FA064788G), from Community Development Financial Institutions Fund, on September 26, 2024.
On GovTribe
See First Vernon Bancshares, Inc.'s full federal record
- Federal grant awards
- Funding analysis by agency, NAICS and set-aside
- Similar vendors