Bastrop bank gives $150K to help economic development, disaster team

Terry Hagerty
·2 min read
The board of directors of the Bastrop Economic Corporation receive a $20,000 grant – the first of five installments totaling $100,000 – donated by Roscoe State Bank for business development in Bastrop County. Pictured in the front row from left are Rick Womble, Roscoe State Bank executive vice president; board chair Ron Spencer; BEDC chief executive officer Bret Gardella; board member Mayor Connie Schroeder; board vice chair Jenn Wahl; and Roscoe business development officer Johnny Sanders. At back from left are BEDC business development officer Jean Riemenschneider; administrative assistant Ashley Allnutt; board secretary/treasurer Richard Smarzik; BEDC operations manager Angela Ryan; board member Charles Washington.

Roscoe State Bank is giving $150,000 to support Bastrop's economic growth and to the county's disaster relief team.

At the Nov. 21 meeting of the board of directors of the Bastrop Economic Development Corporation, Rick Womble, executive vice president of Roscoe State Bank, presented the BEDC with a $20,000 check – the first of five yearly installments that will total $100,000 – will go toward business development, including startups.

“On behalf of Roscoe State Bank, a division of Cornerstone Capital Bank, SSB, we are excited to pledge our support for the Bastrop Economic Development Corporation – as a part of our ongoing commitment to invest in Bastrop,” Womble said. “We live in a wonderful place with a very giving community. I am happy to offer this five-year commitment. We want to do our part. This is a gesture which says, 'We believe in Bastrop. We believe in the future of Bastrop.'”

Womble said the grant money can fuel permanent job creation, retention and improvement for persons/geographic areas that are characterized as low- or moderate-income, as well as for areas targeted for redevelopment by federal, state, local or tribal governments. The grant also will provide technical assistance support for small businesses, farms, job training and workforce-development programs.

Bret Gardella, the economic corporation's chief executive officer, told the board that with the recent merger of Roscoe State Bank with Cornerstone Capital Bank, “They ended up with some resources that they wanted to invest back in our community.”

Gardella said he would present details of the proposed program at the BEDC’s December meeting.

Long Term Recovery Team gets $50,000

Roscoe State Bank also recently presented a $50,000 check to the Bastrop County Long Term Recovery Team to assist in the continuation of the team’s disaster mortgage assistance program.

“This investment in the Bastrop Long Term Recovery Team by Roscoe State Bank represents one of several commitments made within Bastrop County as a show of support for the local areas served by Roscoe State Bank,” said Sheila Lowe, the recovery team's executive director. Like the funding the Long Term Recovery Team received for its COVID-19 mortgage assistance program, the $50,000 commitment by Roscoe will allow the recovery team to help families that have been financially affected by one of the three disasters Bastrop County has seen since 2021, Lowe said.

Families that are rebounding from COVID-19, the historic 2021 winter storms as well as the Texas tornadoes that affected Elgin, are eligible to apply.

This article originally appeared on Austin American-Statesman: Bastrop bank gives $150,000 to help economic development, disaster team