Bank Enterprise Award Program (21.021)
Bank Enterprise Award Program (Assistance Listing 21.021) is run by the Community Development Financial Institutions Fund, part of the Department of the Treasury. It awarded $136 million in 512 grants from fiscal 2021 to 2025, about $265,289 per award on average. No funding opportunity is open on Grants.gov right now.
The typical award was $280,369. Half of the 512 awards fell between $170,699 and $437,350, and they ranged from $14,400 to $437,350.
- Awarded, FY 2021 to 2025$136 million
- Grant awards512
- Typical award$280,369
- Awarded in FY 2025$0
- Size rank716 of 1,823
- Type of assistanceProject grants
Key findings
- It is the 716th largest of 1,823 federal grant programs by five-year awards.
- The 20 largest recipients received 13% of the money.
- Awards went to recipients in 27 states and territories.
What the program funds
The Bank Enterprise Award Program (BEA Program) provides monetary awards to FDIC-insured depository institutions (i.e., banks and thrifts) that demonstrate increased investments and support to certified Community Development Financial Institutions (CDFIs) or in their lending, investing, or service-related activities in the most economically distressed communities.
Open opportunities
No opportunity under this program is open or forecast on Grants.gov right now. Programs often post once a year, so the funding history below shows what to expect.
Rules from the program listing
Who can apply
Profit organization, Other private institutions/organizations For Profit Organizations and Other Private Institution/Organizations in the form of FDIC -insured depository institutions.
What the money can and cannot pay for
The CDFI Fund makes grants to selected applicants that (1) invest in or otherwise support CDFIs; (2) increase lending and investment activities within Distressed Communities; and/or (3) increase the provision of certain services and technical assistance within Distressed Communities. An Award is based upon a percentage of the increase in qualifying activities that are demonstrated by the applicant between an established baseline period and assessment period. This information is announced in the NOFA published in the Federal Register. Only FDIC-insured banks and thrifts may apply for an Award under this program. Each recipient enters into an Award Agreement that specifies the terms and conditions, including, but not limited to, expenditures (including eligible uses) of the grant funds, compliance with performance goals, and reporting requirements on performance outcomes.;
Matching requirements
This program has no statutory formula. Matching requirements are not applicable to this assistance listing. MOE requirements are not applicable to this assistance listing.
Award range and average, in the agency's words
FY 2023 awards were based on appropriations from both FY 2023 and FY 2022. Awards ranged from $18,497 to $437,350 with an average award of $380,434. FY 2024 ranged from $14,400 to $280,369 with an average award of $234,357.
Examples of funded projects
Fiscal Year2017: Please visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfiund.gov/bea.Fiscal Year2019: Please visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfiund.gov/bea.Fiscal Year2020: Please visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfifund.gov/bea.Fiscal Year2021: Please visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfifund.gov/bea.Fiscal Year2022: Please visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfifund.gov/bea.Fiscal Year2024: Please visit the CDFI Fund website for examples of funded projects. The information can be accessed via www.cdfifund.gov/bea.
Funding history and past recipients
From fiscal 2021 to 2025, Bank Enterprise Award Program (21.021) awarded $136 million across 512 grant awards, an average of $265,289 per award.
| Recipient | State | Awards | Amount |
|---|---|---|---|
| Texas National Bank | Texas | 3 | $888,418 |
| Concordia Bank & Trust Company | Louisiana | 3 | $888,418 |
| Citizens Progressive Bank | Louisiana | 3 | $888,418 |
| FNB Oxford Bank | Mississippi | 3 | $888,418 |
| Spring Bank | New York | 3 | $888,418 |
| Mountain Valley Bank | Tennessee | 3 | $888,418 |
| Pike National Bank | Mississippi | 3 | $888,418 |
| Bank of Camilla | Georgia | 3 | $888,418 |
| Legacy Bank & Trust Company | Missouri | 3 | $888,418 |
| Planters Bank & Trust Company | Mississippi | 3 | $888,418 |
| Bankplus | Mississippi | 3 | $888,418 |
| Partners Bank | Arkansas | 3 | $888,418 |
| Central Bank of Kansas City | Missouri | 3 | $888,418 |
| Pioneer Community Bank, Inc. | West Virginia | 3 | $888,418 |
| CLB the Community Bank | Louisiana | 3 | $888,418 |
| Liberty Bank and Trust Company | Louisiana | 3 | $888,418 |
| Unity Bank of Mississippi | Mississippi | 3 | $888,418 |
| First Naturalstate Bank | Arkansas | 3 | $888,418 |
| Bankfirst Financial Services | Mississippi | 3 | $888,418 |
| Commercial Bank & Trust Company | Arkansas | 3 | $888,418 |
Who usually wins
Businesses received 99% of the money, state and local governments 0.4% and small businesses less than 0.1%.
| Recipient type | Awards | Amount | Share |
|---|---|---|---|
| Businesses | 507 | $135 million | 99% |
| State and local governments | 2 | $608,049 | 0.4% |
| Other | 2 | $512,921 | 0.4% |
| Small businesses | 1 | $102,697 | less than 0.1% |
By state
16 states have a page for this program: those that received at least $1 million or 10 awards.
| State | Awards | Amount |
|---|---|---|
| Mississippi | 141 | $38.3 million |
| Louisiana | 111 | $29.1 million |
| Alabama | 47 | $12.3 million |
| Arkansas | 43 | $11.4 million |
| Tennessee | 32 | $8.5 million |
| Missouri | 18 | $5.2 million |
| California | 18 | $5.2 million |
| Texas | 15 | $4.2 million |
| West Virginia | 11 | $3.2 million |
| Georgia | 12 | $3.1 million |
| Illinois | 8 | $2.0 million |
| South Carolina | 6 | $1.6 million |
| New York | 5 | $1.4 million |
| North Carolina | 5 | $1.4 million |
| District of Columbia | 5 | $1.2 million |
| Oklahoma | 7 | $1.1 million |
| Colorado | 3 | $975,949 |
| Minnesota | 3 | $888,418 |
| Maryland | 3 | $834,216 |
| Wisconsin | 3 | $833,227 |
| Virginia | 3 | $758,620 |
| Pennsylvania | 4 | $660,931 |
| Kentucky | 4 | $507,417 |
| Connecticut | 2 | $451,068 |
| Massachusetts | 1 | $437,350 |
| Michigan | 1 | $170,699 |
| New Mexico | 1 | $30,000 |