OWENSBORO, Ky. — Independence Bank has awarded $155,000 in scholarships to students from their 12-county service area. The total amount of scholarships awarded by the bank since the 2001 inception of the program now stands at $1,425,700.
The Independence Bank Scholarship Program began in 2001 as a dream of the late Charles A. Reid, founding partner and father of current CEO Chris Reid. Before his passing, Charles requested that a scholarship program be built to provide opportunities for deserving high school students in need to receive a college education.
The very first scholarship given was in the amount of $10,000. Since then, well over $1 million has been awarded to high school seniors to help make their dreams of a college education come true. Applicants are judged based on a submitted essay, high school grades, ACT scores, financial need, extracurricular activities, community involvement and personal interviews.
The Independence Bank Scholarship program is comprised of over 50 scholarships that applicants are eligible to receive based on specified criteria, many honoring the founding partners of Independence Bank and their families. In addition, Independence Bank’s community board members fund scholarships that are awarded to a student in their individual markets, and the recipients are chosen by the members of the local community board.