First National Bank & Trust Awards $10,000 in Small Business Grants

First National Bank & Trust in Iron Mountain, Michigan, recently awarded $10,000 grants to two local businesses: Proformance Pros LLC and Kopach Filters LLC. The $412 million-asset community bank secured the funding through the Federal Home Loan Bank of Indianapolis’s 2025 Elevate Small Business Grant program.

The Elevate program is open to member banks in Michigan and Indiana and allows them to apply for grants on behalf of their business customers. Funds can be used for training and professional development, technology upgrades, new or improved equipment and other business needs.

This year marks the third time First National Bank & Trust has secured funding through the Elevate program. Proformance Pros and Kopach Filters were selected using an internal points-based system that evaluated factors such as business need, length of time in business and community involvement. They were chosen from a pool of applicants in Dickinson, Iron and Menominee Counties, many of which demonstrated strong community ties but faced funding gaps due to economic conditions.

After securing the grants, Wes Stripling, president of First National Bank & Trust’s Menominee, Michigan, branch, personally presented the checks to each business owner. Both recipients expressed appreciation for the funding and plan to use it to improve efficiency through equipment upgrades or to purchase inventory that would have otherwise required a loan or been financially out of reach, he says. 

Russell C. Kassin, president and CEO of First National Bank & Trust, says supporting customers and giving back to the community are central to the community bank’s mission. In addition to the Elevate program, the bank participates in initiatives including Launch and Revive, which support first-time homebuyers and homeowners in need of repairs.

“As the community grows, we grow as a bank,” says Kassin. “Helping our customers secure these grants is a win for both the community and the bank.”