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By Rebecca Keister
PBN Staff Writer
SOUTH KINGSTOWN – Centreville Bank, a mutual savings bank that operates seven branches in Rhode Island, has donated $50,000 to the University of Rhode Island to support undergraduate scholarships for Rhode Island students through the Centreville Bank Scholarship Endowment established at the URI Foundation in 1996.
The donation will be paid over the next five years and matches a similar $50,000 contribution from Centreville Bank in 2007.
“The University of Rhode Island is a vitally important institution for the people of Rhode Island, not only as a world class leader in education but as a powerful economic engine,” said Raymond Bolster II, president and CEO of the bank and a 1975 graduate of URI’s College of Business Administration, in a statement.
The URI Foundation reports that approximately 16 Centreville Bank Scholarship awards have been made since the endowment was fully funded in 1999. The average scholarship was approximately $1,200.