Wainwright Bank Receives $420,000 Award From CDFI Fund

Wainwright Bank & Trust Company (Nasdaq: WAIN) has been awarded a 2005 Bank Enterprise Award of $420,000 from the Community Development Financial Institutions Fund of the U.S. Treasury. The award was provided in recognition of Wainwright’s 2005 lending activities in distressed communities and for providing $7 million in financial assistance to the Boston Community Loan Fund. The bank was one of only two Massachusetts and fifty-three financial institutions nationwide to be recognized. The Bank Enterprise Award (BEA) Program provides incentives for FDIC insured financial institutions to annually increase the levels of financial services provided to economically distressed communities. Such services may include financing for needed community facilities, commercial loans to small businesses, loans to rehabilitate rental housing, mortgages for first-time homebuyers and direct investments in Community Development Financial Institutions (CDFIs). The awards are in varying amounts based on a financial institution’s increase in community development activities over a pre-defined period of time. Of the fifty-three banks nationwide sharing the $13.9 million award total, Wainwright received the twelfth largest amount. “We are honored to have our community development lending efforts recognized by the U.S. Treasury for the eighth year in a row. We’ve used the awards to create a donor advised […]

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