FALL RIVER – A local student has been awarded a $10,000 renewable scholarship through Fall River Five Cents Savings Bank, also known as BankFive, as part of the bank’s annual Presidential Scholarship program.
Lillian Daponte, a graduate of B.M.C. Durfee High School, will attend the Massachusetts College of Pharmacy and Health Sciences in the fall.
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She received the award during the SouthCoast Community Foundation’s 2026 Scholarship Awards ceremony held June 2 at the University of Massachusetts Dartmouth.
BankFive’s Presidential Scholarship provides $10,000 annually, renewable for up to four years, to graduating high school seniors from Bristol County in Massachusetts and Newport County in Rhode Island.
The program, launched in 2022, supports students attending accredited colleges or universities.
The scholarship is administered in partnership with the SouthCoast Community Foundation and honors the bank’s former CEOs and presidents.
Awards are based on academic achievement, financial need, or both, and remain renewable as long as recipients maintain full-time enrollment and eligibility requirements.
Since its inception, BankFive has awarded $160,000 in scholarships.
At this year’s ceremony, more than $900,000 in scholarships was distributed to 124 students through the SouthCoast Community Foundation.
“Congratulations, Lillian, on this outstanding achievement,” said Anne P. Tangen, CEO and president of BankFive. “BankFive’s Presidential Scholarship Fund is a true reflection of the bank’s mission to invest in our local communities.”
Melanie Edwards-Tavares, CEO and president of the SouthCoast Community Foundation, said the program continues to support local students pursuing higher education.
“Each year, the SouthCoast Community Foundation is thrilled to offer local students scholarships to continue their higher education journeys,” she said. “We are grateful for our partners, such as BankFive, who are dedicated to giving back to the community they serve.”
BankFive operates 18 locations across Massachusetts and Rhode Island and is celebrating its 170th anniversary.
Matthew McNulty is a PBN staff writer. He can be reached at McNulty@PBN.com or on X at @MattMcNultyNYC.
