Organized on Oct. 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 Nov. 1, 1887, the bank was chartered and open for business six days later. The bank served the community in its original building for more than 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 taking the position in May of this year. He succeeds David Kashian, who had served as president since May 2005 and will continue as chairman and CEO until 2023. Under their leadership, the bank has grown from approximately $50,000 in 1887 to more than $430 million in total assets as of 2021.

In its 135-year 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 2022.

The bank will celebrate its history with customers at the First National Bank & Trust 135th Anniversary Customer Appreciation Cookout, set for 11 a.m. to 2 p.m. Friday, Aug. 19, at 233 S. Stephenson Ave. in downtown Iron Mountain. 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.

THE ORIGINAL FIRST National Bank of Iron Mountain building. The bank opened in 1887.

“To be in business for 135 years is a big achievement for any organization,” said Kassin, First National Bank & Trust president. “We look forward to celebrating that achievement with the people who made it possible, our customers and employees.”