Aug. 21, 2019 – BancorpSouth Bank (NYSE: BXS) and Summit Bank announced today a joint $200,000 contribution to Step Up For Students to provide educational opportunities to underprivileged students in Florida through K-12 scholarships.
Their donation will fund more than 28 scholarships during the 2019-20 school year. The two banks, which expect their merger to be effective on September 1, 2019, are committed to supporting programs and initiatives that help their communities thrive.
“BancorpSouth and Summit Bank both have long histories of giving back to our communities, and this continues those traditions,” said Linnette Kellar, BancorpSouth’s President – Destin, Florida. “We’re glad to be working together to help provide educational options for our next generation of leaders.”
Summit Bank President and CEO Andy Stein, who will serve as President – Northwest Florida Division for BancorpSouth following the merger, agreed and added, “We value the families within our communities, and this joint contribution continues our proud heritage of strengthening the places where we live and work.”
Step Up For Students helps manage the Florida Tax Credit Scholarship Program, which provides lower-income families with financial assistance toward private school tuition and fees, or with transportation costs to attend an out-of-district public school.
“We are honored to have BancorpSouth and Summit Bank as partners in our mission to help lower-income Floridafamilies access schools that best fit their children’s unique learning needs,” said Doug Tuthill, Step Up For Students president. “We are grateful for their generosity and their commitment to giving back to their communities.”
Through partnering with Step Up For Students, companies can fund scholarships and receive dollar-for-dollar tax credits for their contributions.
Frank Hall, Summit Bank’s executive vice president and chief operating officer who will serve as President – Panama City Market for BancorpSouth following the merger, added, “We’re always exploring ways to make an impact in our communities, and this contribution to Step Up For Students is a great way to show our commitment to the Florida Panhandle.”
For the 2018-19 school year, Step Up For Students served more than 98,500 students throughout Florida. More than 1,800 private schools participate in the scholarship program statewide.