American State Bank will present an Academic Excellence Award to one high school senior every six weeks.
The winner will receive a bronze-colored trophy and be eligible for a $10,000 scholarship to be awarded at the end of the school year.
The bank launched a football player of the week award earlier this year and will give out a $10,000 scholarship to one of those players at the end of the season.
Tim Haugh, general manager of consumer finance, said bank officials decided to create this award as a way to recognize academics in addition to athletics.
“We wanted to not only support the kids on the field but the kids in the classroom (who) also work just as hard,” he said.
Haugh said counselors at 25 eligible schools can nominate as many seniors as they want for the academic excellence award every six weeks.
Eligible schools are All Saints, Arp, Athens, Big Sandy, Bishop T.K. Gorman, Brook Hill, Brownsboro, Bullard, Carlisle, Chapel Hill, Frankston, Grace Community, Hawkins, Henderson, Jacksonville, John Tyler, Lee, Lindale, New Summerfield, Overton, Troup, Van, West Rusk, Whitehouse and Winona.
The winner each six weeks will be selected based on a 100-point scoring system, Haugh said.
Students will be judged based on grade point average, extracurricular involvement, community involvement, SAT/ACT scores, and afterschool employment.
At the end of the school year, the bank will recognize all winners during a banquet at Hollytree Country Club. That is where the scholarship recipient will be announced.
Haugh said the community helped make the bank what it is today and this program is a way of giving back.
American State Bank has branches in Arp, New Chapel Hill and Tyler.