$1.3 million awarded to San Benito, Brownsville for affordable housing
1 month 2 weeks 5 hours ago
Friday, February 05 2021
Feb 5, 2021
February 05, 2021 11:13 AM
February 05, 2021
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News - Local
By: KRGV staff
KRGV File Photo
More than $1 million has been awarded to San Benito and Brownsville for affordable housing, Congressman Filemon Vela (D-Brownsville) announced Friday.
The San Benito Housing Authority received $750,000 from Home Federal Bank and Federal Home Loan Bank of Dallas. The funds will help support the Palmville Homes project, which consists of 84 multifamily rental units to assist special needs families.
The Community Development Corporation of Brownsville received $600,000 from Rio Grande Valley Multibank and FHLB Dallas. Those funds will go towards constructing 40 multi-family rental units for the Samano project.
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The $591,000 increase in non-interest income for the three months ended December 31, 2020, compared to the prior year quarterly period, was primarily due to an increase of $627,000 in gain on sale of loans, and a $4,000 increase in non-interest other income, partially offset by a decrease of $38,000 in service charges on deposit accounts, and a $2,000 decrease in income from bank owned life insurance. The $1.3 million increase in non-interest income for the six months ended December 31, 2020 compared to the prior year six-month period was primarily due to an increase of $1.5 million in gain on sale of loans, and an increase of $8,000 in other non-interest income, partially offset by an $80,000 decrease in gain on sale of real estate, a $64,000 decrease in service charges on deposit accounts, and a $4,000 decrease in income from bank owned life insurance. The Company sells most of its long term fixed rate residential mortgage loan originations primarily in order to manage interest
Salt Lake City – January 19, 2020, Altabank, Utah’s largest community bank, recently announced that Len Williams, President and CEO, was appointed to the Board of Directors for the Salt Lake City branch of the Federal Reserve Bank of San Francisco. Williams’ three-year appointment was made by the San Francisco Fed’s Board of Directors.
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