DENVER—Native American Bank has received a Bank Enterprise Award (BEA) in the amount of $355,000 in recognition of the service to economically distressed communities. This award was part of the fiscal year 2014 BEA Program offered by the U.S. Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund).
Native American Bank was one of 69 other FDIC-insured depository institutions selected to receive a grant from a pool of $17.9 million in the fiscal year 2014 round of the Bank Enterprise Award Program. The BEA grants will be invested into eligible Native American communities to assist with commercial loan funding and support their economic growth.
“We are pleased to have received the highest amount awarded to a number of institutions,” stated Tom Ogaard, President and CEO of Native American Bank. “This award will benefit a number of Native American economic activities around the country by allowing us to leverage it and provide capital resources where it is needed.”
The award will assist Native American Bank to move forward in its mission to provide access to financial services for Alaska Native and Native American communities creating economic independence, development and sustainability.
Native American Bank is a $61 million dollar bank with its corporate headquarters in Denver, Colo., a retail branch in Browning, Mont., and a loan production office in Box Elder, Mont. Its primary market is Native American Tribes, Alaska Native Corporations, and Native American businesses and individuals. The bank is owned by 28 federally-recognized Indian Tribes, Alaska Native Corporations and tribal organizations. For more information about Native American Bank, please visit the bank’s website at www.nabna.com.