A grant from the BancorpSouth Subsidiary BXS Community Fund, LLC made a 50 million new market tax credit Allocation
BancorpSouth Bank (NYSE: BXS) announced its subsidiary BxS Community Fund, LLC, a Community Development Entity ("CDE"), has received 57 million dollars in New Markets Tax Credit (NMTC)
BXS Community Fund is one of 100 CDEs selected from a pool of 208 nationwide applicants to receive monetary assistance, administered by the United States' Community Development Financial Institutions Fund (CDFI Fund).
"We're pleased to receive this award to support our efforts to increase investment in disadvantaged businesses and communities while providing access to highly accessible jobs, health care and fresh food," said the president and COO of BancorpSouth.
The NMTC allocation is intended to provide capital for high-impact projects throughout the Southeast, and focus on the following areas:
- Manufacturing and industrial businesses that create quality and accessible jobs;
- Providing healthcare to the underserved; and distributing services to under-serving communities; & providing services for underpinning communities.
- The Grocery has the ability to make healthy meals more accessible.
As defined in the CDFI Fund, all projects will be financed by highly distressed, low-income communities. To learn more about the BXS Community Fund, please contact BancorpSouth Tax Credit Manager Will Shurtleff at 601-607-4597 or [email protected].
About BancorpSouth Bank About BanksBankBank. BancorpSouth Bank is headquartered in Tupelo, Mississippi, with approximately 28 billion in assets. Bancorporate South operates 315 full-service branches, and additional mortgage, insurance, or loan production offices in Alabama, Arkansas, Georgia, To learn more, visit our Community Engagement page at www.bancorpsouth.com; "Like" us on Facebook; follow us in Twitter and Instagram: @MyBXS; or connect with us through LinkedIn.
SOURCE BancorpSouth Bank.