$100,000 bank gift to aid UA students

FAYETTEVILLE -- A $100,000 gift from Generations Bank will provide scholarships for low-income students interested in studying business at the University of Arkansas, Fayetteville.

The awards will be part of the Fleischer Spirit Scholars Program, which offers $10,000 annual awards. The gift will provide support over five years to two first-generation college students, according to UA, which also hosts a weeklong Fleischer summer residential program for high school juniors and seniors.

Generations Bank is the sixth Arkansas bank to support the Fleischer program, with preference for the awards going to students in Washington, Benton, Calhoun and Ouachita counties, as well as Junction City.

The bank "is committed to investing in high school students within our markets," Jon Harrell, Generations Bank chairman of the board, said in a statement released by UA.

Morton Fleischer, co-founder and chairman of Store Capital Corp., established the program.

Banks can receive a tax deduction by sponsoring scholarships and credit under the federal government's Community Reinvestment Act, Fleischer has said. This act requires banks to take steps to serve low- to moderate-income people living where the bank does business. Jennifer Holland, a UA spokesman, said three Fleischer scholarship awards were given out during the past academic year.

Metro on 07/03/2018

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