TUPELO, Miss., Sept. 14, 2021 /PRNewswire/ -- BancorpSouth Bank
(NYSE: BXS) is pleased to announce that its subsidiary BXS
Community Fund, LLC, which is a Community Development Entity
("CDE"), has been awarded a $50
million New Markets Tax Credit (NMTC) allocation that will
spur investments and economic growth in low-income urban and rural
communities.
BXS Community Fund is one of 100 CDEs, selected from a pool of
208 nationwide applicants, to receive a tax credit allocation,
administered by the U.S. Department of the Treasury's Community
Development Financial Institutions Fund (CDFI Fund).
"We're pleased to receive this award to assist with our efforts
to increase investments in disadvantaged businesses and communities
while providing highly accessible jobs, health care and access to
fresh foods," said BancorpSouth President and COO Chris Bagley.
The NMTC allocation will be used to provide capital to
high-impact projects throughout the Southeast, focusing on the
following areas:
- Manufacturing/industrial businesses that create quality and
accessible jobs;
- Providing healthcare to underserved communities; and
- Groceries that increase access to healthy foods.
All projects will be located in highly distressed, low-income
communities as defined by the CDFI Fund. To learn more about BXS
Community Fund, please contact BancorpSouth Tax Credit Manager
Will Shurtleff at 601-607-4597 or
will.shurtleff@bxs.com.
About BancorpSouth Bank
BancorpSouth Bank (NYSE: BXS)
is headquartered in Tupelo,
Mississippi, with approximately $28
billion in assets. BancorpSouth operates approximately
315 full-service branch locations as well as additional mortgage,
insurance, and loan production offices in Alabama, Arkansas, Georgia, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas, including an insurance location in
Illinois. BancorpSouth is committed to a culture of respect,
diversity, and inclusion in both its workplace and communities. To
learn more, visit our Community Commitment page at
www.bancorpsouth.com; "Like" us on Facebook; follow us on Twitter
and Instagram: @MyBXS; or connect with us through
LinkedIn.
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SOURCE BancorpSouth Bank