Congressman Blake Farenthold Joins Frost Bank and FHLB Dallas in Announcing $500K Grant

Affordable Housing Program Grant Supports The Salvation Army Center of
Hope

CORPUS CHRISTI, Texas–(BUSINESS WIRE)–Improved care for homeless families and veterans is coming to Corpus
Christi and the Coastal Bend region in late 2017 through The Salvation
Army’s new Center of Hope facility. At a press conference today,
Congressman Blake Farenthold (TX-District 27) was joined in the
announcement by local and regional dignitaries from The Salvation Army,
Frost Bank, and the Federal Home Loan Bank of Dallas (FHLB Dallas).


The future 220-bed facility was awarded a $500,000 Affordable Housing
Program (AHP) grant last month from Frost Bank and FHLB Dallas. The
funds will be put toward a $5 million capital campaign to be used for
construction costs. Groundbreaking is expected later this year.

“As a native of Corpus Christi, it is great to see the power that
partnerships can play in helping homeless veterans and families here,”
said Representative Farenthold. “I want to thank The Salvation Army,
Frost Bank, and the Federal Home Loan Bank of Dallas for together
providing the vision and resources that will make the Center of Hope a
reality.”

Major Terry Ray, regional commander at The Salvation Army, said the
28,000-square-foot facility will be part of a larger campus that
includes The Salvation Army Community Center, where today’s event was
held.

“The primary needs for the community are basic issues of affordable
housing and homeless services for families and individuals. Our center
is going to serve the two most underserved populations in this area –
intact families and veterans,” he said. “Our focus is getting out of
crisis. The life skills training, budgeting, parenting classes and all
the programming we do provide services families need to grow stronger
together. We are talking about some families that are in their third
generations cycling through poverty and homelessness.”

The new center will be able to accommodate a variety of families
including single fathers with children and families with boys ages 12
and older. It will be the only shelter in the region with this capacity.

“Public and nonprofit partnerships make a true difference in our
community,” said Corpus Christi Mayor Nelda Martinez. “Not only is The
Salvation Army helping with day-to-day needs but they are going to be
able to equip our most vulnerable populations with skills to succeed in
the future.”

FHLB Dallas annually returns 10 percent of its profits in the form of
AHP grants to the communities served by its member institutions, like
Frost Bank. AHP grants fund a variety of projects, including home
rehabilitation and modifications for low-income, elderly, and special
needs residents; down payment and closing cost assistance for qualified
first-time homebuyers; and the construction of low-income, multifamily
rental communities and single-family homes.

“Providing grant opportunities to local entities such as The Salvation
Army in Corpus Christi, who are providing one of life’s basic needs,
that of shelter, is something we are honored to support,” said Donna C.
Normandin, senior vice president & CRA officer at Frost Bank. “It’s
great that FHLB Dallas offers such needed programs as the AHP to help
support work being done in the affordable housing space.”

In 2016, FHLB Dallas awarded $7.8 million in AHP grants across its
five-state District of Arkansas, Louisiana, Mississippi, New Mexico, and
Texas. Of this amount, Texas was awarded $2 million for 950 housing
units.

Greg Hettrick, FHLB Dallas first vice president and director of
Community Investment, said the AHP grant provides opportunities to
support those in need while strengthening members’ community
relationships.

“The Affordable Housing Program provides a vital source of gap funding
for large projects like the Center of Hope,” he said. “Through Frost
Bank’s valued membership, FHLB Dallas is able to effectively address the
affordable housing needs of the Coastal Bend.”

About Frost Bank

Frost is the banking, investments and insurance subsidiary of
Cullen/Frost Bankers, Inc. (NYSE: CFR), a financial holding company with
$29.0 billion in assets at June 30, 2016. One of the 50 largest U.S.
banks by asset size, Frost provides a full range of banking investments
and insurance services to businesses and individuals in the Austin,
Corpus Christi, Dallas, Fort Worth, Houston, Permian Basin, Rio Grande
Valley and San Antonio regions. Founded in 1868, Frost has helped Texans
with their financial needs during three centuries. For more information,
visit www.frostbank.com.

About The Salvation Army

The Salvation Army, established in 1865, has been supporting those in
need for 130 years in the United States. Nearly 30 million Americans
receive assistance from The Salvation Army each year through the
broadest array of social services that range from providing food for the
hungry, relief for disaster victims, assistance for the disabled,
outreach to the elderly and ill, clothing and shelter to the homeless
and opportunities for underprivileged children. In Corpus Christi, The
Salvation Army’s new Center of Hope Family Services Center will be
focused on families and single parents with children providing
comprehensive family services to those who are in need of assistance as
they work to become self-sufficient. The Center of Hope will also focus
on Veterans’ services to assist with housing, employment assistance and
counseling to those who have served our country.

About the Federal Home Loan Bank of Dallas

The Federal Home Loan Bank of Dallas is one of 11 district banks in the
FHLBank System created by Congress in 1932. FHLB Dallas, with total
assets of $54.4 billion as of June 30, 2016, is a member-owned
cooperative that supports housing and community development by providing
competitively priced loans and other credit products to approximately
850 members and associated institutions in Arkansas, Louisiana,
Mississippi, New Mexico, and Texas. For more information, visit our
website at fhlb.com.

Contacts

Federal Home Loan Bank of Dallas
Corporate Communications,
214-441-8445
www.fhlb.com