First National Bank & Trust is celebrating its 135th anniversary in 2022. Organized on October 10, 1887 as the First National Bank of Iron Mountain, the first bank president, John R. Wood, purchased the entire brick building, known as the Wood Block, for $22,000. On November 1, 1887, the bank was chartered and open for business six days later. The bank served the community in its original building for over 100 years until 1991, when a new bank building was constructed on the site of the Wood Block, opening for business on Monday, May 20, 1991.
Since first president John R. Wood, 10 presidents have served over 135 years, with current president, Russell C. Kassin, having taken the position in May of this year. He succeeds David Kashian, who has served as president since May of 2005, and will continue to serve as Chairman and CEO until 2023. Under their leadership, the bank has grown from approximately $50,000 in 1887 to over $430 million in total assets as of 2021.
In its 135 history, First National Bank & Trust has seen many changes, including the opening of branch offices in Iron Mountain, Kingsford, Iron River and Menominee; Trust & Wealth Management services in Iron Mountain, Iron River, Menominee and a specialized office in Marquette; a Digital Services center to support and develop the banks’ growing digital banking products; and 135 years after the first location was established in Iron Mountain, the bank expanded again with the establishment of Marquette’s First National Bank & Trust Mortgage Production Office in May of 2022.
On August 19, the bank will celebrate its history with its customers at the First National Bank & Trust 135th Anniversary Customer Appreciation Cookout. The event will feature hot dogs and brats, refreshments, cookies, and ice cream, plus live music by Mark Young, a bounce house for children and prize drawings. Prizes include $135 gift cards to a number of local businesses as well as the grand prize of a four-piece outdoor patio furniture set.
“To be in business for 135 years is a big achievement for any organization,” said Russ Kassin, First National Bank & Trust President. “We look forward to celebrating that achievement with the people who made it possible, our customers and employees.”
The 135th Anniversary Customer Appreciation Cookout will take place at First National Bank & Trust’s downtown location at 233 S. Stephenson, Iron Mountain, on Friday, August 19, from 11:00 am – 2:00 pm.
