First State Bank Marks 45 Years of Scholarships

Over the years, the community oriented bank has granted more than $100,000 in academic scholarships to Tech students.

"We were probably one of the first banks, if not the first bank, in New Mexico to give full-tuition scholarships to a university," says Holm O. Bursum III, president and CEO of First State Bank.

Traditionally, in this scholarship program, preference is given to graduates of high schools in Socorro and Catron counties before graduates of surrounding communities are considered.

"We never have had any say about who gets the scholarships," Bursum points out, "and that's the way we prefer it. Also, we've never set the rules or criteria for receiving the scholarships-- New Mexico Tech does that. We just pay for the scholarships and are content and satisfied that the money does go to deserving students."

When Bursum's father, Holm O. Bursum, Jr., was interviewed on June 5, 1953, for a news story about the start of First State Bank's scholarship program, he was quoted as saying, "An investment in our youth is the surest investment in the future. We are happy to have this opportunity to express our confidence both in our young people and in [New Mexico Tech]."

Bursum echoes his father's sentiments by stating, "Education is of such importance that we should do all we can to assist those people who are willing to pursue their higher education."

One of the earliest recipients of a First State Bank Scholarship was an old schoolmate of Bursum's: Duane H. Williams, a native of Socorro who retired from a 32-year-long career in aerospace engineering and is now living in Capitan.

"When I was attending the university, I lived at home and I covered most of my expenses with work during the summer months," Williams relates. "However, the scholarship from First State Bank helped me meet my costs during the fall and spring semesters when I was going to school, so it ended up helping a great deal."

Williams earned both his bachelor's and master's degrees from New Mexico Tech in the late-1950s and went on to a very successful career with the U.S. Navy's weapons laboratory in China Lake, Calif.

This year's recipients include recent Socorro High School graduates Aaron Berger, Jamie Conklin, and Ryan DelCurto, Reserve High School graduate Bryon Gray, and Magdalena High School graduate Clayton Spurgeon.

Each year, First State Bank awards five scholarships through the longstanding program.

And, each year the local bank draws in a few more loyal customers as a result of the program.

"A lot of the students who have benefitted from this program have established accounts with our bank," Bursum notes, "and a good number of them have kept their accounts here after they graduate. Since some of these Tech graduates have moved on to work at different places around the world, it's almost like we're an international bank."

Bursum says he considers the First State Bank scholarship program another prime example of his bank's commitment to "community reinvestment."

"I believe the scholarship program clearly demonstrates the type of commitment and dedication a local bank can offer to its local community," Bursum asserts. "When we do our part for our local citizens, it speaks well of not only First State Bank, but of all the independent community banks of New Mexico."

-NMT-

George Zamora