VIRGINIA CHAMBER OF COMMERCE: Averett Students To Receive Endowed Scholarship From American National Honoring Former Board Chair Franklin Madduz


Representatives from FNCB present an $8,000 Education Improvement Tax Credit (EITC) donation to Wyoming Seminary. The donation will be used to provide scholarship assistance to students attending the Lower, Middle and Upper School campuses. L-R: Joseph Ea   FNCB

Virginia Chamber of Commerce issued the following announcement on March 12.

verett University today announced that American National Bank and Trust Company has established the Dr. Frank W. Maddux Endowed Scholarship for Averett students. The scholarship was created in recognition of Maddux’s 17 years of service on the Board of Directors at American National, as well as his years of service and former chairman position on Averett’s Board of Trustees.

“It’s difficult to properly express my gratitude for a man who has done so much for our region, for his strategic guidance during American National’s incredible growth period and for me personally. But on behalf of American National, I am delighted to honor Dr. Maddux for his many contributions through the establishment of the Frank Maddux scholarship,” said Jeffrey V. Haley, president & CEO of American National Bankshares Inc.

This endowment will be funded with an initial gift, and interested parties may contribute to the endowment at any time. Income from the endowment will be awarded annually to a deserving full-time, undergraduate Averett student who demonstrates financial need and holds a minimum GPA of 3.0. First preference will be given to students who are residents of the Dan River Region. The award may be renewable for up to three additional years.

“I was extraordinarily pleased that the bank had so thoughtfully created a way to honor my tenure on its Board of Directors. I feel so attached to Averett, so it was an ideal parting statement to me, one for which I’m extremely grateful,” said Maddux, nephrologist and global chief medical officer at Fresenius Medical Care. “I am most excited for the opportunity the young people receiving this scholarship will have to experience Averett and advance their own life and careers professionally,” he continued. “A university environment like Averett is incredibly important to Southside Virginia, and helps attract individuals who can not only learn from their experience here, but also contribute to the region.”

Maddux is a former Averett Board of Trustee member for 11 years, and served as chair of the Board from 2007 to 2009. He and his wife, Dr. Dugan Maddux, bestowed a $100,000 gift in 2018 to support the expansion of Averett’s esports program, and the Esports Center in Averett’s historic Main Hall is named after them.

“I cannot think of a more meaningful tribute for someone who has given so generously to Averett,” said Averett University President Dr. Tiffany M. Franks. “We are grateful to American National Bank and Trust Company for honoring Dr. Maddux, who has made a tremendous impact on both organizations and whose strategic wisdom, investment and passion for this region’s hometown university has been instrumental to our success.”

Original source can be found here.

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