Congress created the BEA Program in 1994 to encourage FDIC-insured banks to increase their level of support for Community Development Financial Institutions and to increase the provision of loans, investments, and financial services in distressed communities. The U.S. Treasury Department awarded more than $45 million this year to 47 banks across the country for their role in helping spur development in distressed communities.

“The First National Bank of Phillips County provides an important foundation in the Arkansas Delta by supporting and spurring on economic development,” Lincoln said.  “These federal dollars will provide people living in the Delta region with the tools they need to strengthen their communities and the access to economic and educational opportunities they otherwise might not have had.”

"The First National Bank of Phillips County has long served its community through countless initiatives, and I am confident this award will help it continue improving the economy and quality of life in the Delta," Pryor said. "I strongly support federal programs that help underserved communities receive access to affordable credit, capital and financial services, and I will continue to be an advocate to expand and strengthen their impact."

"I am pleased to see the federal government recognize the First National Bank of Phillips County for its contributions to the Arkansas Delta," Berry said. "I am confident First National Bank will reinvest these federal dollars into the community and continue to build on years of work to spur development and transform the economically distressed neighborhoods throughout the Delta region."