STATE — Franklin Savings Bank’s Community Development Foundation has awarded $36,000 college scholarships to 14 local students. The bank awards the scholarships each year to students from 11 local schools. The scholarships are usually $3,000 each, though two schools opted to split the award between two scholars.

The local 2019 Franklin Scholars:

       Telstar Regional High School: Mathew Thomas Lavoie of Oxford, son of Gina and Thomas Lavoie. He plans to major in Actuarial Science at the University of Maine at Farmington.

       Mountain Valley High School: Cameron Gallant of Rumford, son of Brad and Mary Gallant. He plans to major in Business Management at UMass-Boston.

“This is a great group of young people who have achieved much in their high school careers. We look forward to hearing of their continued success in college,” said Tim Thompson, President and CEO at Franklin Savings Bank.

Scholarships from the Franklin Savings Bank Community Development Foundation were awarded to students who plan to attend a four-year college with studies concentrating in accounting, finance, marketing, management, computer sciences or other business-related courses. The graduating seniors were selected as Franklin Scholars by each school based largely on high academic achievement, which alone represented 70 percent of the criteria for scholarship selection. The remaining 30 percent was based on community citizenship, participation in extra-curricular activities, such as athletics, band, school clubs or drama, and financial need.

The bank’s Community Development Foundation grants the scholarships to the schools, which select the student and administer the scholarship.

Franklin Savings Bank’s Community Development Foundation was created in 2000 to support community, economic and educational needs within the communities served by Franklin Savings Bank. To date, the Foundation has awarded $640,000 to 205 students.