Rocco Abessinio, the CEO of Delaware-based Applied Bank, which has offices in Glen Mills, has donated $16 million to his alma mater, Salesianum, a Catholic prep school in Wilmington, writes Joseph DiStefano for the Philadelphia Inquirer.

The gift is the latest in a string of similar donations to Catholic institutions in the Brandywine Valley by the credit card magnate. It will go toward the construction of a new stadium on city-owned land and an endowment for tuition aid for students.

Among his previous gifts is the recently expanded Rocco A. Abessinio Building at Neumann College in Aston.

At its peak, Abessinio’s business employed 5,000 people in Wilmington and Glen Mills, as well as in Kentucky, West Virginia, and Florida.

Read more about Rocco Abessinio’s gift to Salesianum in the Philadelphia Inquirer by clicking here.