Kentucky Bank Hits $2M in Scholarships for Students

A Kentucky bank is about to cross a remarkable milestone: $2 million given to students who dream of going to college.

Independence Bank opened applications this month for its 25th anniversary scholarship class. The program has quietly transformed into one of Kentucky's most generous local scholarship initiatives, supporting high school seniors across 15 counties.

The story began with a vision from Charles A. Reid, one of the bank's founding partners. Before his death in 2001, Reid asked the bank to create a scholarship program for deserving students facing financial barriers to higher education.

That first year, the bank awarded one scholarship worth $10,000. Fast forward to 2025, and Independence Bank distributed $144,400 to 72 Kentucky seniors in a single year.

The numbers tell a story of growing impact. More than 460 students applied during the last cycle, competing for individual awards ranging from $500 to $15,000. Ten exceptional students received scholarships of $5,000 or more.

Students don't need perfect grades to apply. The bank uses a comprehensive review process that values the whole person: academic achievement, financial need, extracurricular activities, community service, and personal essays all factor into decisions.

The Ripple Effect

When you invest in education for a quarter century, the impact multiplies. Those early scholarship recipients from 2001 are now in their 40s, possibly raising families and contributing to their communities with college degrees they might not have afforded otherwise.

Each $1,000 scholarship removes a semester of worry. Each $10,000 award might mean the difference between attending college or skipping it entirely. For students in rural Kentucky counties where college attendance rates lag behind state averages, these scholarships open doors that might otherwise stay closed.

The program continues Charles Reid's legacy through his son, current Independence Bank Chairman Chris Reid. What started as one father's final wish has become an institutional commitment spanning a generation.

High school seniors across Kentucky can apply online at 1776bank.com/scholarships through February 24. Winners will be celebrated at a spring reception in Owensboro, where they'll join a growing network of Independence Bank scholars who prove that strategic local investment in education creates lasting community change.

Twenty-five years of scholarships means 25 graduating classes have had a little more hope and a little less debt as they chase their dreams.