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Business

First National Bank awards $904,000 in Community Development Grants

First National Bank has awarded a total of $904,000 in community development grants to 47 organizations in Illinois, Nebraska, Colorado, Kansas, South Dakota and Texas that support programs focused on increasing access to stable housing, revitalizing neighborhoods and building strong local economies.

In Illinois, First National Bank awarded $90,000 in community development grants to seven organizations. Grants for affordable housing programs will enable the bank’s community partners to build, rehabilitate or finance 25 homes and provide 105 individuals with home ownership education and foreclosure prevention services. Locally, Safe Passage in DeKalb was awarded $20,000. Safe Passage provides transitional housing for victims of domestic violence.

Grants supporting economic development initiatives will create or retain 488 jobs and assist more than 75 small businesses in Illinois. Locally, these include:

$10,000 – Accion Chicago: expands economic security for underserved entrepreneurs by providing small business owners in Kane, McHenry, Boone, DeKalb and Kendall counties with tools for business ownership.

$10,000 – DeKalb County Economic Development Center: supports revitalization that attracts or retains businesses to Park 88 and other industrial sites in DeKalb.

First National Bank expects to announce additional community development grants in the fourth quarter that will support initiatives that strengthen the workforce. In 2017, the bank awarded a total of $1.8 million in community development grants to 104 organizations across its seven-state service area.

First National Bank is a subsidiary of First National of Nebraska. Primary banking offices are located in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas.

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