Federal grant · project grant (b)

First Bank, the

Purpose: the Bank Enterprise Award Program (bea Program) Provides Monetary Awards to Fdic Insured Depository Institutions (i.e., Banks and Thrifts) That Demonstrate Increases in Their (i) Investments and Support to Certified Community Development Financial Institutions (cdfis), or (II) Lending, Investing, or Service-related Activities in the Most Economically Distressed Communities. Planned Activities: Through the Bea Program, the Cdfi Fund Awards Formula Based Grants to Depository Institutions That Are Insured by the Fdic for Increasing Their Levels of Loans, Investments, Service Activities, and Technical Assistance to Residents and Businesses in the Most Economically Distressed Communities; and Financial Assistance and Technical Assistance to Certified Cdfis Through Equity Investments, Equity Like Loans, Grants, Stock Purchases, Loans, Deposits, and Other Forms of Assistance; During a Specified Period. End Goals: Expected Outcomes Include Demonstrated Increased Investments and Support to Certified Cdfis or in the Recipient’s Lending, Investing, or Service-related Activities in the Most Economically Distressed Communities. Beneficiaries: Profit Organization, Private Nonprofit Institution/organization, and Other Private Institution/organization. Subrecipients: There Are No Subrecipients for This Program. Broadband: Not Applicable. Reason/purpose of Modification: Not Applicable.

Committed

$170,699

Paid to

First Bank, the

UEI JG6NJVZF4MX7

P.o. Box 15549, Hattiesburg, MS, 39404

Department of the Treasury

Community Development Financial Institutions Fund

Place

UNITED STATES

Performance

Dec 4, 2023

How to read these numbers

One award, start to finish: Everything here is this single award's whole record — signed, amended, paid — not a fiscal-year slice. The by-year charts elsewhere split an award across the years it was committed; this page keeps it whole.
Committed vs. ceiling: Committed is what the government has legally promised on this award so far. Contracts can also carry a ceiling — the maximum if every option is exercised. Unspent ceiling is headroom, not money owed.
Paid out: The cash actually disbursed against this award. The gap from committed is the disbursement pipeline: promised, not yet cashed.
The ledger: Each transaction is a signing event — an action that created or changed the award, dated the day it was signed — not a payment. Negative amounts are real: money de-committed at closeout or renegotiation.
The money bar: One bar, the award’s whole arithmetic: paid out, then committed, not yet paid, then .

Source

This award on USAspending.gov ↗

Federal grant · project grant (b)

Department of the Treasury

Community Development Financial Institutions Fund

Bank Enterprise Award Program to

First Bank, the

Committed

$170,699

Paid to

First Bank, the

UEI JG6NJVZF4MX7

P.o. Box 15549, Hattiesburg, MS, 39404

Department of the Treasury

Community Development Financial Institutions Fund

Place

UNITED STATES

Performance

Dec 4, 2023

How to read these numbers

One award, start to finish: Everything here is this single award's whole record — signed, amended, paid — not a fiscal-year slice. The by-year charts elsewhere split an award across the years it was committed; this page keeps it whole.
Committed vs. ceiling: Committed is what the government has legally promised on this award so far. Contracts can also carry a ceiling — the maximum if every option is exercised. Unspent ceiling is headroom, not money owed.
Paid out: The cash actually disbursed against this award. The gap from committed is the disbursement pipeline: promised, not yet cashed.
The ledger: Each transaction is a signing event — an action that created or changed the award, dated the day it was signed — not a payment. Negative amounts are real: money de-committed at closeout or renegotiation.
The money bar: One bar, the award’s whole arithmetic: paid out, then committed, not yet paid, then .

Source

This award on USAspending.gov ↗