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News Releases

News Releases


BMO Harris Bank Receives Awards for 16 Affordable Housing Projects

BMO Harris Bank Receives Awards for 16 Affordable Housing Projects
Partners with developers and non-profits to create and preserve affordable housing across the Midwest

CHICAGO, IL (Jan. 14, 2013) – BMO Harris Bank today announced it has received awards from the Federal Home Loan Bank of Chicago (FHLBC) for 16 affordable housing projects. BMO Harris Bank's awards total $4,239,472, representing 440 units of rental housing and 332 owner-occupied units of affordable housing.

The FHLBC's Affordable Housing Program (AHP) assists in the creation and preservation of affordable housing. This year's program received 115 applications requesting AHP funds. The FHLBC is awarding over $19 million that will support 58 affordable housing projects.

"BMO Harris Bank continues to be a leader in helping developers and organizations strengthen their local communities by providing financing for affordable housing projects," said Mark Furlong, President & CEO, BMO Harris Bank. "This additional source of funding allows us to reinforce our partnerships and create healthy communities while spurring economic growth."

BMO Harris Bank housing project locations supported by these funds include: Chicago, Bellwood, Freeport, and Wheeling in Illinois, and Milwaukee, Appleton, LaCrosse, Kenosha, Racine, Waukesha, Madison, Walworth, Manitowoc and Sheboygan in Wisconsin.

“The Federal Home Loan Bank of Chicago congratulates BMO Harris Bank for their dedication and commitment to affordable housing,” said Sam Nicita, Community Investment Officer of the Federal Home Loan Bank of Chicago. “We are proud to support BMO Harris Bank and their community partners with these grants that will help them provide affordable housing options for low- and moderate-income families.”

FHLBC members can apply for AHP funds on behalf of community projects, which the FHLBC awards through a competitive process. FHLBC shareholders, local developers, community organizations and public agencies will leverage these funds with other financing sources to purchase, construct, rehabilitate, or preserve more than 2,700 affordable rental or owner-occupied units.

About BMO Harris Bank

Based in Chicago, BMO Harris Bank N.A. provides a broad range of personal banking products and solutions through over 600 branches and approximately 1,300 ATMs in Illinois, Wisconsin, Indiana, Kansas, Missouri, Minnesota, Nevada, Arizona and Florida. BMO Harris Bank’s commercial banking team provides a combination of sector expertise, local knowledge and mid-market focus throughout the U.S. Deposit and loan products and services provided by BMO Harris Bank N.A. Member FDIC. BMO Harris Banksm is a trade name used by BMO Harris Bank N.A. BMO Harris Bank is part of BMO Financial Group, a North American financial organization with 1,600 branches, and a retail deposit base of approximately $180 bil lion.

BMO and BMO Financial Group are trade names used by Bank of Montreal.

For further information:

Vanessa Hall , (312) 461-6543 Vanessa1.Hall@harrisbank.com


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Banking products and services are provided by BMO Harris Bank N.A. and are subject to bank and credit approval. BMO Harris Bank N.A. Member FDIC.

 

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To help the government fight the funding of terrorism and money laundering activities, federal law (USA Patriot Act (Title III of Pub. L. 107 56 signed into law October 26, 2001)) requires all financial organizations to obtain, verify and record information that identifies each person who opens an account. When you open an account, we will ask for your name, address, date of birth and other information that will allow us to identify you. We may also ask you to provide a copy of your driver's license or other identifying documents. For each business or entity that opens an account, we will ask for your name, address and other information that will allow us to identify the entity. We may also ask you to provide a copy of your certificate of incorporation (or similar document) or other identifying documents. The information you provide in this form may be used to perform a credit check and verify your identity by using internal sources and third party vendors. If the requested information is not provided within 30 calendar days, the account will be subject to closure.

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BMO Harris Premier Services represents a combined service approach of BMO Harris Financial Advisors and BMO Harris Bank, each a part of BMO Financial Group.

Securities, investment advisory services and insurance products are offered through BMO Harris Financial Advisors, Inc. Member FINRA / SIPC . SEC-registered investment adviser. BMO Harris Financial Advisors, Inc. and BMO Harris Bank N.A. are affiliated companies. Securities and insurance products offered are: NOT FDIC INSURED – NOT BANK GUARANTEED – NOT A DEPOSIT – MAY LOSE VALUE.

This information is not intended to be tax or legal advice. This information cannot be used by any taxpayer for the purpose of avoiding tax penalties that may be imposed on the taxpayer. This information is being used to support the promotion or marketing of the planning strategies discussed herein. BMO Harris Bank N.A. and its affiliates do not provide legal or tax advice to clients. You should review your particular circumstances with your independent legal and tax advisors.