Bank of Bird-in-Hand

Bank of Bird-in-Hand is an American bank, the first in the United States to open following the passage of the Dodd Frank Act in 2010.[1] It was founded in Pennsylvania by a group of local Amish and non-Amish investors.[2]

Bank of Bird-in-Hand
IndustryBank
Area served
United States
Key people
Alan Dakey (CEO)
Lori Maley (Former CEO)

History

On November 27, 2013,[3] the Federal Deposit Insurance Corporation approved the launch of Bank of Bird-in-Hand. At the time of opening, the Bank had $17 million in capital.[4]

The Bank celebrated its first anniversary on December 2, 2014.[5]

Lori Maley replaced Alan Dakey as CEO of the bank on March 1, 2017.[6]

Assets

On June 30, 2020, the bank reported total assets of $527.5 million, total deposits of $453.2 million, total net loans of $425.0 million, and total shareholders’ equity of $57.8 million.[7]

Location and clientele

The Bank is located in Bird-in-Hand, Pennsylvania, in Pennsylvanian Amish Country.[8] The Bank caters mostly to Amish borrowers, however not exclusively.[1]

Building

The Bank includes a drive-through window designed to accommodate a horse and buggy.[9]

References
  1. "A Local Bank in Amish Country Flourishes Amid Dearth of Small Lenders". The Wall Street Journal. March 29, 2015.
  2. "Bank of Bird-in-Hand proposed, includes Amish investors". Lancaster Online. January 8, 2013.
  3. "RE:Bank of Bird-in-Hand Application for Federal Deposit Insurance" (PDF). FDIC. Retrieved August 25, 2015.
  4. "Bank of Bird-in-Hand takes to the skies". Financial Times. December 1, 2013.
  5. "New CEO for Bank of Bird-in-Hand sees opportunities ahead". Lancaster Online. December 8, 2014.
  6. "Central Penn Business Journal". Feb 14, 1017.
  7. "Bank of Bird-in-Hand Reports on Progress of Stock Offering". www.businesswire.com. 2020-10-02. Retrieved 2020-12-30.
  8. "Amish start-up: The Bank of Bird-in-Hand". Philly.com. October 17, 2013.
  9. "Nice gig: Lessons from one of America's youngest lenders". The Economist. August 22, 2015.
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