Florida Banking August/September 2024

In many ways, our nation’s financial institutions are the nucleus for their local economies and communities. At FHLBank Atlanta, we rely on our member financial institutions to share what they are seeing, and each year develop specific programs in response. Last year, amid rising inflation, interest rates and construction costs, our Multifamily Housing Bridge Fund allocated more than $8 million to provide gap financing to 28 multifamily housing projects. Thanks to members, developers and sponsors coming together, the result will be 2,357 new affordable rental units. Lastly, we just made $10 million available through a new program: Workforce Housing Plus+, allowing financial institution members to access up to $500,000, and disburse down payment assistance grants of up to $15,000 to homebuyers with incomes between 80.01 percent and 120 percent of area median income (AMI). Workforce Housing Plus+ was created for hardworking individuals and families with incomes too high for most downpayment assistance programs, but who still struggle to achieve home ownership as home prices and inflation outpace incomes. The need for safe, quality housing requires a collaborative approach, and we will continue to serve as a connection point for the lenders, developers and

community organizations working toward solutions. FHLBank and FBA look forward to bringing these groups together in Miami on November 15 for a forum dedicated to discussing solutions to address Florida’s affordable housing challenges. Visit the FBA website and look for email updates with more details about the event. Let’s learn from one another’s successes and discuss new ways to partner to provide more affordable housing and strengthen communities. Kirk Malmberg was appointed president and chief executive officer of FHLBank Atlanta on May 28, 2021. Malmberg joined the bank in 2001 as senior vice president of Asset/ Liability Management and was appointed chief financial officer in 2011. Most recently, he served as executive vice president and chief operating officer, overseeing Accounting, Community Investment Services, Financial Operations, Information Technology, Sales and Trading, and Treasury. Formerly, Malmberg was senior vice president, Treasury for the Federal Home Loan Bank of Chicago. Prior to joining the Chicago Bank’s staff, Malmberg worked with SunTrust Capital Markets, Inc. in Atlanta as well as with Lehman Brothers, Southwest Corporate Federal Credit Union, and Gill Savings Association. He earned a Bachelor of Arts degree from Trinity University in San Antonio, Texas, and a Master of Business Administration degree from Rice University in Houston.

AFFORDABLE HOUSING FORUM

NOVEMBER 15 MIAMI MARRIOTT BISCAYNE BAY

Join the FBA and the Federal Home Loan Bank of Atlanta for a forum dedicated to discussing solutions for Florida’s affordable housing challenges.

WWW.FLORIDABANKERS.COM AUGUST | SEPTEMBER 2024 — 23