$40,000 HHS Scholarship Honors Late Pentucket Bank Chairman Edmund Cote

Former Pentucket Bank President and CEO Edmund J. Cote Jr. who dies in 2020. (Courtesy photograph.)

The family of former Pentucket Bank President and CEO Edmund J. Cote Jr. and Pentucket Bank recently established a scholarship for graduating Haverhill High School seniors beginning this year.

Cote’s family raised $20,000 which was matched by Pentucket Bank for a total of $40,000. Two $1,000 scholarships will be given annually to Haverhill High School graduates. The fund is intended to provide support and assistance to students who, like Cote, are not at the top of their class, but “whose potential is unlimited when given the opportunity to succeed.”

“Mr. Cote was not raised in a family of means. He was a bright student, but not among the top students in his class. However, he was an extremely hard worker with a charismatic personality. Throughout his career, he found great fulfillment in community service and volunteerism, while he advanced in his career in banking. He went on to become the president of BayBank Merrimack Valley before moving on to finish his career at Pentucket Bank,” a statement explained.

Cote served as the president and CEO of Pentucket Bank for more than 15 years from 1983 to 1998 and remained a director and corporator until his passing last June. Among his accomplishments was the purchase and renovation of a former BayBank branch that now serves as the bank’s main office at One Merrimack Street in downtown Haverhill.

“Upon my father’s passing in June of 2020, my family felt strongly about honoring my father’s legacy by establishing a scholarship in his name,” said Scott D. Cote, current Pentucket Bank CEO and chairman and son of Edmund Cote. “I am extremely proud that we were able to raise $20,000 as a family, something my father would have been so moved by,” Cote said, adding, “I am humbled by Pentucket Bank’s offer to match the funds in full, bringing the investment to $40,000.  It is a testament not only to my father’s legacy as president and CEO of the Bank, but also of the bank’s longstanding commitment to investing in our community and supporting the continued education of our youth.”

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