Centennial Bank Donates $1 Million to Florida Tax Scholarship Program

September 26, 2012 | Tallahassee, Fla. – Elementary students at Seven Hills Academy had a unique visitor at their assembly this morning. “Penny,” Centennial Bank’s mascot, along with representatives from the financial institution, joined the students to present a $1 million contribution to Step Up For Students, which will fund scholarships for low-income Florida children.

Seven Hills Academy is one of about 1,450 schools across the state that participates in the Step Up For Students Scholarship Program, enabling low-income families to choose the educational environment that best matches the way their children learn. Approximately 40 students attend Seven Hills with help from the scholarship program.

Seven Hills Academy principal Duwayne Baum (far left) joins representatives from Step Up For Students and Centennial Bank, scholarship recipient students, and "Penny," the bank mascot.

Seven Hills Academy principal Duwayne Baum (far left) joins representatives from Step Up For Students and Centennial Bank, scholarship recipient students, and “Penny,” the bank mascot.

Seven Hills Academy principal Duwayne Baum (far left) joins representatives from Step Up For Students and Centennial Bank, scholarship recipient students, and “Penny,” the bank mascot.

Step Up For Students, also known as the Florida Tax Scholarship Program, is funded through corporate tax redirections and will serve approximately 50,000 students this school year. Corporations with certain types of Florida tax liabilities may contribute by redirecting their taxes to the program, and receive dollar-for-dollar tax credits for their redirection.

Centennial Bank’s $1 million contribution marks its first donation to the scholarship program and it will provide about 223 scholarships to Florida children.

“At Centennial Bank, it is important to not only serve our customers, but our community as well,” said Susan Payne Turner, Centennial Bank regional retail leader. “We are proud that this contribution will impact our community in a positive way by helping more than 220 students learn in the academic environment that fits their unique needs.”

“At Centennial Bank, it is important to not only serve our customers, but our community as well. We are proud that this contribution will impact our community in a positive way by helping more than 220 students learn in the academic environment that fits their unique needs.Susan Payne Turner, Centennial Bank regional retail leader

Step Up For Students is excited about the corporate partnership with Centennial Bank.

“We are honored to have Centennial Bank’s support,”said Anne White, Step Up For Students vice president of operations. “We are thrilled that we are able to serve so many families this year, and we are able to do that because of the generosity of our corporate partners.”

About Centennial Bank

Centennial Bank is a customer focused bank that provides a broad range of commercial and retail banking and related financial services to businesses, investors,individuals and municipalities. With locations throughout the Florida Keys, Panhandle, southwest and central Florida plus all of Central Arkansas, Centennial Bank prides itself on excellent customer service, convenience to account holders and taking care of the communities in which it operates.

About Step Up For Students

Step Up For Students is the nonprofit organization responsible for administering the Florida Tax Credit Scholarship program.The scholarship program is available to students who qualify for a free or reduced-price lunch and provides tuition assistance to the private school of their parents’ choice or transportation help to an out-of-district public school. Scholarships are funded by corporations that receive a dollar-for-dollar tax credit for their contributions.

For more information, visit www.stepupforstudents.org.

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