Latest news with #FirstStateBank
Yahoo
21-03-2025
- Business
- Yahoo
First State Bank supports struggling hospitals in West Texas with loans
First State Bank of Abernathy in the US has utilised the Federal Home Loan Bank of Dallas (FHLB Dallas) Economic Development Program (EDP) loans to support three struggling hospitals in West Texas. These affordable loans have been instrumental in supporting operational expenses, ensuring that the hospitals remain open to serve the rural communities spread across the region. Haskell Memorial Hospital, situated in Haskell, Texas, with a population of 3,000, is one of the beneficiaries of a $1.3m EDP loan facilitated by First State Bank. The hospital, which is about 150 miles east of Lubbock, Texas, is critical for treating patients who would otherwise face nearly an hour's drive to the nearest hospital in Abilene. Haskell County Hospital District CEO Michelle Stevens said that it is not only a healthcare provider but also one of the city's 'largest' employers, with 80 full-time workers. Stevens said: 'The funds we received helped our hospital recover from an unexpected loss of $2m in government funding.' The EDP provides favourably priced loans to finance a wide array of projects, including those in the healthcare sector such as hospitals and nursing homes, as well as commercial and infrastructure initiatives. These advances are available exclusively to FHLB Dallas member institutions, which then extend loans to their customers. First State Bank cashier Jentri Turner said: 'It's beneficial for our customer and the bank because we receive an affordable, competitive interest rate from FHLB Dallas and can lend money to struggling hospitals at a rate that they can afford. 'We are proud to be lending to these hospitals. In a sense, we are helping save lives.' The initiative by First State Bank has not only provided financial relief but also maintained the health and operational stability of rural hospitals. "First State Bank supports struggling hospitals in West Texas with loans" was originally created and published by Hospital Management, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
19-03-2025
- Business
- Yahoo
First State Bank Uses FHLB Dallas Economic Development Program to Aid Rural Texas Hospitals
HASKELL, Texas, March 19, 2025--(BUSINESS WIRE)--First State Bank of Abernathy, Texas, used Federal Home Loan Bank of Dallas (FHLB Dallas) Economic Development Program (EDP) advances (loans) to aid three struggling West Texas hospitals. First State Bank used the advances to provide the hospitals with affordable loans that helped with operational expenses to keep their doors open to serve rural communities that dot the West Texas landscape. Haskell Memorial Hospital in Haskell, Texas, received a $1.3 million EDP loan through First State Bank. The small West Texas town of 3,000 people about 150 miles east of Lubbock, Texas, treats critical care patients that otherwise would have to drive to nearly an hour to an Abilene, Texas hospital. "Our hospital plays a critical role in making sure patients have access to healthcare in what would otherwise be a healthcare desert. For many in our communities, this literally could be a life-or-death difference," said Michelle Stevens, CEO of Haskell County Hospital District. The hospital, which employs 80 full-time workers, is also one of the city's largest employers, she said. "The funds we received helped our hospital recover from an unexpected loss of $2 million in government funding," Ms. Stevens said. First State Bank Director and CFO Denise Turner said the bank has also helped two other struggling rural hospitals keep their doors open with EDP loans. "We had to figure out how we could help these rural hospitals because it was just extremely important and dire for our communities," she said. "We definitely will use the EDP again." The EDP offers FHLB Dallas' members favorably priced advances (loans) to finance a broad range of projects and initiatives, including small businesses, hospitals, nursing homes and social service facilities, commercial and manufacturing initiatives, infrastructure and public facilities. EDP advances are only available to FHLB Dallas member institutions which, in turn, provide loans to their customers. To qualify for the EDP, the funded entity must create or retain jobs and be located in an economically disadvantaged area or serve a disadvantaged population to qualify. More details on qualifications are available at "It's beneficial for our customer and the bank because we receive an affordable, competitive interest rate from FHLB Dallas and can lend money to struggling hospitals at a rate that they can afford," said First State Bank Cashier Jentri Turner. "Maybe they aren't doing brain surgeries, but they are dealing with rattlesnake bites or moms in labor or heart attacks. We are proud to be lending to these hospitals. In a sense, we are helping save lives." For First State Bank, the funding also produced goodwill, with community residents thanking the bank for its help in keeping rural hospitals healthy and operational. "We have seen these three hospitals really turn things around to benefit their communities — the communities we so proudly serve," Jentri Turner said. About First State BankFounded in 1909, The First State Bank is a locally owned community bank that still operates under its original name and charter with only three owners in its 115 year history. With branch locations in Abernathy, Haskell, and Stamford, Texas, the bank is proud to serve communities across the Texas South Plains and Rolling Plains as a Minority Deposit Institution, offering deposit, loan, and Trust services. For more information, visit About the Federal Home Loan Bank of DallasThe 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 $127.7 billion as of December 31, 2024, is a member-owned cooperative that supports housing and community development by providing competitively priced loans and other credit products to approximately 800 members and associated institutions in Arkansas, Louisiana, Mississippi, New Mexico and Texas. For more information, visit View source version on Contacts Corporate CommunicationsFederal Home Loan Bank of (214) 441-8445 Sign in to access your portfolio
Yahoo
30-01-2025
- Yahoo
Alleged suspect in LeRoy ATM theft makes first appearance in court
Jan. 29—A man accused in the alleged theft from a LeRoy bank ATM earlier this month has appeared in court. Markell Deshawn Kinney, 21, of Houston, Texas, made a first appearance in Mower County District Court Tuesday and faces four felony counts related to the case: theft, damage to property, receiving stolen property and fleeing a peace officer. He is currently being held on $100,000 bail or bond with no conditions and $50,000 with conditions. The incident in question took place on Jan. 11 at around 3:20 a.m., when Mower County Sheriff's Office deputies were dispatched to the First State Bank located in the 100 block of Main Street West in LeRoy for an ATM alarm. According to the court complaint, the responding deputy observed two vehicles traveling west on County Road 6, one of which matched the description of a silver, four-door truck witnessed by an individual living near the scene who was woken up by the commotion. The deputy stated in the complaint that he witnessed the vehicles at around 3:33 a.m. and that both vehicles turned south on 670th Avenue as the deputy attempted to catch up to the vehicles. As the SUV slowed for a curve, the truck went around it and continued on as the road turned into State Line Road. State Line Road eventually turns into gravel and the deputy stated he had lost sight of the vehicle briefly until coming upon it not long after having flipped onto its top. A black male, determined later to be Kinney, was seen crawling out of the passenger side window of the wrecked truck. With gun drawn, the deputy gave commands to Kinney to stop and show his hands, but Kinney stumbled behind the truck. The deputy repositioned and tried to determine if Kinney was still in the truck, but noted that he had fled. Driving in the direction Kinney was deemed to have fled turned up nothing and further searches of the area also failed to find the suspect. Later in the morning, deputies were alerted to a man that was seen walking around in Stacyville, Iowa, just over a mile from where the truck had been located. Upon arrival, deputies discovered that the man identified as Kinney had been apprehended by Mitchell County Sheriff's Office deputies. Video from the scene allegedly showed three males wearing gloves and white face masks approach the ATM and use pry bars to open it up. A chain attached to the truck was attached to the ATM and used to rip the machine off the concrete. The video also showed the individuals roll the ATM over and reach for the ATM cassette, which holds the cash. It was stated in the complaint that according to the bank, the cassette was likely holding between $20,000 and $50,000. It was also estimated that the value of the ATM was $35,763. A deputy later discovered parts that looked like the cassette while driving State Line Road around 760th Avenue. Through dealer documentation found in the truck deputies were also able to determine that the truck used was a 2002 Ford F350 crew cab from Albertson Auto Center in Spillville, Iowa. The owner of the dealership confirmed the vehicle, with the license plate "KAR" — also visible in the video footage — had been on their lot and that nobody had permission to be driving the vehicle. Kinney is due next in court for an omnibus hearing on Feb. 24.
