(WASHINGTON, DC) – Congressman Dennis Moore (Third District-KS) announced today Douglass National Bank in Kansas City, Kansas, has been selected to receive $500,000 in federal funding through the Bank Enterprise Award (BEA) program. The program is part of the Community Development Financial Institutions Fund, which is administered by the U.S. Department of the Treasury.

“Douglass National Back has earned a reputation as a champion for inner-city redevelopment and community involvement,” Moore said. “This federal investment will bolster their ability to provide financial services to those living in economically distressed areas and improve the quality of life throughout the Kansas City metropolitan area.”

Douglass National Bank is a certified Community Development Financial Institution (CDFI) and a national bank with total assets of over $97 million. Started as the first black-owned bank chartered west of the Mississippi River, Douglass has served the Kansas City area for over 50 years. The bank focuses on improving affordable housing and small business development in the urban core.

“I want to thank Congressman Moore for his support of the CDFI fund because without him this award would not be possible,” said Lester Johnson, Douglass National Bank president. “This is a dividend that the Treasury Department should provide to banks willing to serve distressed areas.”

The BEA program provides an incentive for banks to increase their level of support to certified CDFIs or increase their provision of loans, investments and financial services in distressed communities. Douglass National Bank is one of the 53 institutions selected to receive CDFI funding totaling $10 million in this round of awards.