Origin Bank announced on July 28 that it had donated $700,000 to distribute to a variety of charities and educational institutions in its markets in Louisiana, Mississippi and Texas.
The donations will be made from fees collected by Origin for its role in providing loans through the federal Paycheck Protection Program, the bank said in a press release.
“This round of donations in our tri-state market will help extend the spirit of the P3 program to local entities that are playing a critical role in our communities during the coronavirus pandemic,” said Origin President and CEO Drake Mills. Bancorp. Inc.
“Origin is honored to partner with historically black colleges and universities in our markets to establish endowed scholarships that will help ensure long-term financial support for students,” he said.
Mills said the bank has helped provide more than $563 million in Paycheck Protection Program funds to more than 3,000 businesses, protecting the jobs of about 60,000 employees of Origin Bank customers.
“Now we’re taking that effort even further into the communities we serve,” Mills said.
Individual donations will range from $2,000 to $40,000, and some of the organizations that will receive support include: Boys and Girls Clubs; local food banks; Centraide organizations; Grambling State University in Grambling, Louisiana; Jackson State University in Jackson, Mississippi; Texas Southern in Houston; Paul Quinn College in Dallas; and the Department of Inclusive Initiatives and Student Success at Louisiana Tech University in Ruston, Louisiana.
“These organizations, institutions and programs play a key role in our communities, providing safe haven for children, food for the needy and helping to advance social programs and initiatives that become especially important in times of crisis. We are thrilled to recognize these groups and support their missions,” said Lance Hall, President and CEO of Origin Bank.
“We recognize that we are all in this together and Origin will continue to support our customers and our communities as we fight this pandemic,” Hall said,
The Paycheck Protection Program was part of the CARES (Coronavirus Aid, Relief and Economic Security Act) and was designed to provide small businesses with funds to help cover payroll costs and employee benefits.
Origin Bank is headquartered in Ruston, Louisiana and is a wholly owned subsidiary of financial holding company Origin Bancorp Inc. (OBNK).
¬– FWBP staff