Locally founded bank will make $1K donations to a different nonprofit every week for the next year

First Federal Bank and Trust, located here in Sheridan, is donating $1,000 a week for 52 weeks to a 501(c)(3) or qualified non-profit in Sheridan County. 

During an appearance on Sheridan Media’s Public Pulse program, First Federal Bank and Trust President and CEO Kevin Bailey and Executive Vice President Chief Commercial Lending Officer DJ Dearcorn made an appearance to announce the upcoming weekly donations. 

Founded in Sheridan in 1935 by a group of local businessmen, First Federal does not have stockholders. According to Bailey, not having to pay profits to stockholders means the bank can focus instead on taking care of people and improving the community. 

Bailey and his leadership team at First Federal have instilled the idea of community within the culture of the bank. Bailey told listeners that these donations are also a fun way to practice that culture, help the community and live the values set forth by the bank’s founders. 

Dearcorn and his team developed the idea. He told listeners that a bank, nonprofits and the community are a symbiotic relationship. Not only will the donations help those in need, but the guiding principles and work of nonprofits build stronger communities and benefits everyone who lives and works within them. 

First Federal has made donations to nonprofits for decades but beginning in January of the coming year, the new program opens the door to any 501(c)(3) in Sheridan County and will award $1,000 to one nonprofit every week for the next 52 weeks.