Minden, Neb., May 6, 2009— The Minden Exchange Bank & Trust Co. has created two scholarship funds to help students attend the University of Nebraska. The first scholarship, in the amount of $75,000, will assist graduates of Minden High School. It is an endowed fund, which means the $75,000 will be invested and the income used in perpetuity to create scholarships. The first scholarship will be awarded in the 2009-2010 academic year to a Minden student attending any campus of the University of Nebraska system.

The second scholarship, for $50,000, has been created to honor Richard K. Armstrong, a long-time banker at the Minden Exchange Bank & Trust Co. He retired from the bank in 1981 and passed away in 2003. His son, Rich Armstrong, is president of the Minden Exchange Bank & Trust Co.

The Richard K. Armstrong Scholarship Fund is also an endowed fund, with the income used in perpetuity to create scholarships. The scholarships will be awarded annually to a student or students attending any University of Nebraska campus.

Both scholarships were made possible by the Minden Exchange Bank & Trust Co. through a gift to the University of Nebraska Foundation.

Rich Armstrong said he thought it was a good way for the bank to give back to the Minden community.

“The gift is in celebration of the 125th anniversary of the Minden Exchange Bank & Trust Company,” Armstrong said. “It is important to give back to the community that has helped us be successful.”

The University of Nebraska Foundation is a private, nonprofit corporation that has raised private gifts to support the University of Nebraska for 73 years. Last year, it provided more than $130 million—the most ever—for students, faculty, academic programs, research, and campus capital improvements.