Gift will be used to establish the Charles Albert Reid School of Business in memory of the founder of Independence Bank.
Brescia University has received a $1 Million gift from the family of the late Charles Albert Reid, founder of Independence Bank, to name the Brescia University School of Business in his memory. The Charles Albert Reid School of Business will be located in Brescia University’s new academic center for professional studies to be constructed on the corner of 9th and Frederica Streets.
In 1971, Mr. Reid and his brother-in-law, Maurice E. Reisz, purchased Farmers & Merchants Bank in McLean County as well as Providence State Bank in Webster County. In 1997, the two small banks were incorporated under one name, Independence Bank. After his passing in October 2001, his son Chris, also a Brescia graduate, took over his father’s role as President that same year.
Today, the third generation of the Reid family, Jacob Reid and Lauren Patton, also third generation Brescia graduates, have assumed leadership roles within Independence Bank. Jacob serves as the Executive Vice President and Lauren as the Executive Director of the Independence Bank Foundation, the charitable arm of the bank.
“The Reid family has a long tradition of service to the Owensboro region and we are incredibly proud of this family of alumni. I am humbled and thankful for their generosity and investment in the future of our students. They are not only models of philanthropy but also great examples of applying Christian principles to business practices, especially in their commitment to servant leadership,” stated Father Larry Hostetter, President of Brescia University.
The center for professional studies, currently being called the Signature Building, will also house the Marilyn Younger Conley School of Social Work, which recently received a $500,000 grant from the James Graham Brown Foundation, as well as, the School of Education and The William Thompson Center for Business Graduate Studies.
Ground will be broken on the project in early 2018 as part of the second phase of The Campaign for Brescia University: Gateway to Our Second Century, following the completion of the first phase, the renovation of The Moore Center in mid-June. The construction of the building will cost approximately $8 million, with a total campaign cost of $15 million. The University has raised nearly $12.1 million to date.
The Reid family will join members of the Brescia University community on July 12th, which would have been Mr. Reid’s 84th birthday, for a luncheon and check presentation.