FNB Awarded $75M in New Markets Tax Credits for Lafayette County

FNB Community Partners, a certified Community Development Entity and affiliate of FNB Oxford Bank, was awarded a $75 million allocation of New Markets Tax Credits by the U.S. Department of the Treasury’s Community Development Financial Institutions Fund. The award, announced January 23, 2026, directs federal tax credit incentives toward investment in low- to moderate-income communities and gives Lafayette County a new tool to attract below-market capital for local projects.

The allocation makes FNB Community Partners a conduit for $75 million in investment through tax credits that are structured to leverage private capital and provide flexible financing for projects that might not otherwise attract traditional loans. As an NMTC allocatee, FNB Community Partners said it will prioritize investments in healthcare facilities, broadband infrastructure, and multi-service community facilities across Mississippi, North Carolina, Louisiana, Florida, and Georgia.

“This $75 million NMTC allocation represents a transformational opportunity for FNB Community Partners and the communities we aim to serve,” said James Harper, CDFI Coordinator and General Counsel. “As a first-time allocatee, we are honored by the CDFI Fund’s confidence in our mission and approach, and we are eager to deploy this capital to support projects that deliver lasting economic impact.”

Local officials and economic development practitioners in Lafayette County can use the allocation to close financing gaps for projects that create quality jobs and expand access to essential goods and services. The financing vehicle is intended to be flexible and below market, which can reduce upfront costs for capital-intensive projects such as community clinics, rural broadband builds, or shared community centers that combine health, education, and social services.

John Barrett, CEO of FNB Oxford Bank, framed the award as an opportunity to address persistent investment shortfalls in underserved areas. “New Markets Tax Credits remain one of the most effective tools for closing financing gaps in underserved markets,” Barrett said. The allocation positions FNB Community Partners to marshal federal incentives alongside private investors to support equitable economic development in low-income communities.

For Lafayette County, the immediate implications are strategic rather than project specific. The county sits within the state scope identified by FNB Community Partners, making local proposals plausible candidates for NMTC-backed financing once FNB begins issuing allocations. Market implications include the potential to catalyze outside investment, improve infrastructure that supports small business growth, and stabilize long-term employment prospects in sectors like healthcare and broadband services.

What comes next for residents and local leaders is monitoring announcements from FNB Community Partners and FNB Oxford Bank about application processes and project selections. The $75 million allocation creates a new pathway for Lafayette County to compete for capital that could reshape local infrastructure and jobs over the coming years.