yesterday.

Michael Kent Pearman and Fiona Herring are the recipients of the Sir A. Dudley Spurling and Sir Harry D. Butterfield Scholarships respectively, a Bank of Butterfield spokeswoman said.

The bank awards the two scholarships, which are worth $15,000 per year and are tenable for up to four years, annually to students who show outstanding academic achievement.

Mr. Pearman is due to begin studying for a Masters of International Banking/International Business & Finance at Columbia University in New York this Fall.

Meanwhile Miss Herring will continue her studies toward a Bachelor of Arts in Economics at Dartmouth College this fall.

The bank also makes ten interest free loans available to students each year.