United Bank President and CEO Bob Jones Appointed Member of the Community Development Advisory Board
October 3, 2017 – Atmore, Ala – United Bank announced today their President and CEO, Bob Jones, has recently been appointed by President Donald J. Trump to serve on the Community Development Advisory Board of the U.S. Department of Treasury. Jones will serve as a member of the Community Development Advisory Board for a four-year term.
The Community Development Advisory Board was established by the Community Development Banking and Financial Institutions Act of 1994. The Community Development Advisory Board is to advise the Director of the Fund on policies regarding the activities of the Community Development Financial Institutions (CDFI) Fund. The Advisory Board consists of 15 members who represent racial, ethnic, and gender diversity. The members include Secretary of the Departments of Agriculture, Commerce, Housing and Urban Development, Interior, Treasury and the Administrator of the Small Business Administration. Remaining members of the board are comprised of 9 private citizens appointed by the President.
Jones was selected as a member in recognition of his services, advocacy, and commitment to the banking industry and elevating the roles CDFI banks play. Jones is a Navy veteran and received both his Bachelor of Science and Master of Business Administration from Auburn University. Jones attended Southwestern Graduate School of Banking at Southern Methodist University. Jones is a former board member of the national Auburn Alumni Association and currently serves on the Auburn Magazine Advisory Board. He joined United Bank in 1990 and became President and CEO in 1992. Jones serves as chairman for the American Bankers Association Fund for Economic Growth and is a board member of the American Bankers Association’s Education Foundation. Additionally, Jones is a current board member of the Community Foundation of South Alabama and past president of the Alabama Bankers Association.
In addition to being CEO of United Bank, Jones also serves as Chairman of UB Community Development, LLC (UBCD). In 2016, United Bancorporation of Alabama, Inc. received $65MM in New Market Tax Credits, and remains the only community development entity headquartered in Alabama to have received the allocation. In 2017, following the successful deployment of more than $90MM of New Market Tax Credits, UB Community Development received a $55MM allocation of New Market Tax Credits. UBCD, a community development partner of United Bank, is a certified Community Development Entity (CDE). UBCD’s New Market Tax Credit program provides new market tax credits to help fund eligible projects in economically disadvantaged areas based on qualifying census tracts. Recently completed New Market Tax Credit projects have been done in Greenville, Monroeville, Atmore, Pensacola, and more, with a total of 155 jobs created and 718 jobs retained. Projects funded by New Market Tax Credits and USDA CF Relending programs include, municipal facilities, healthcare facilities, rural water systems, nonprofit facilities, community facilities and more.
For more information about UB Community Development, or for help with planning your next funding project, contact Alex Jones, President, UB Community Development at (251) 446-6017 or email alex.jones@unitedbank.com.
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About United Bank
United Bank is a $592,000,000 financial institution that has enjoyed 113 years of service. United Bank has offices in Atmore, Brewton, Flomaton, Monroeville, Frisco City, Greensboro, Bay Minette, Foley, Lillian, Loxley, Magnolia Springs, Silverhill, Spanish Fort and Summerdale in Alabama. United Bank serves Santa Rosa County, Florida in Jay, Milton and Pace. For more information about United Bank, please visit our website at www.unitedbank.com. Member FDIC.
