Kentucky Bank Hits $2M in Student Scholarships After 25 Years

A father's final wish 25 years ago just helped its 2 millionth dollar find a Kentucky student who needs it.

Independence Bank is celebrating a quarter century of its scholarship program in 2026, a legacy that began with founding partner Charles A. Reid's vision before he passed away in 2001. Reid wanted to create something lasting: a way for students facing financial barriers to pursue college dreams they might otherwise abandon.

That first year, the bank awarded $10,000 total. Fast forward to 2025, and 72 Kentucky high school seniors just received $144,400 combined, with awards ranging from $500 to $15,000 each.

The growth tells a powerful story. More than 460 students applied from across the bank's 15-county footprint last year alone. Ten students received awards of $5,000 or more, life-changing amounts for families weighing whether college is financially possible.

The selection process looks beyond grades. Students submit personal essays and demonstrate community service, extracurricular involvement, and academic achievement alongside financial need. It's a holistic view of what makes someone ready to succeed.

Charles Reid's son Chris now chairs the bank and has watched his father's $10,000 seed grow into nearly $2 million in awarded scholarships. Hundreds of Kentucky students have graduated college debt-free or with significantly less burden because of this program.

The Ripple Effect

Every scholarship recipient represents more than one changed life. First-generation college students often become the bridge that lifts entire families into new economic possibilities. Teachers, nurses, engineers, and entrepreneurs who might have skipped college due to cost are instead contributing to Kentucky communities.

The program's staying power matters too. Twenty-five years of consistent funding means parents and guidance counselors now plan around this opportunity. It's become woven into how Kentucky families in these 15 counties think about making college affordable.

Applications for the 2026 cycle are open now through February 24 at 1776bank.com/scholarships. The bank plans an in-person spring reception in Owensboro to honor this milestone year's recipients, bringing together past and present scholars.

A father who never saw the first scholarship awarded has now touched hundreds of lives through a vision that outlived him by a quarter century.