Bank of Bird-in-Hand
| Company type | Private |
|---|---|
| Industry | Banking, Financial services |
| Founded | November 27, 2013 in Bird-in-Hand, Pennsylvania, United States |
| Headquarters | Bird-in-Hand , United States |
Area served | Lancaster County, Pennsylvania |
Key people | Lori Maley (CEO) |
| Products | Retail banking |
Bank of Bird-in-Hand is a U.S.-based financial institution recognized as the first bank to commence operations in the country after the enactment of the 2010 Dodd Frank Act. Established in Bird-in-Hand, Pennsylvania through a collaboration between Amish and non-Amish investors, it mainly caters to retail banking clients.
History
The Federal Deposit Insurance Corporation authorized the establishment of Bank of Bird-in-Hand on November 27, 2013, with an initial capital investment of $17 million. The bank celebrated its one-year anniversary on December 2, 2014. On March 1, 2017, Lori Maley took over the position of CEO from Alan Dakey.
Assets
By June 30, 2020, the bank disclosed total assets amounting to $527.5 million, deposits totaling $453.2 million, net loans of $425.0 million, and shareholders’ equity valued at $57.8 million.
Location and clientele
Headquartered in Bird-in-Hand within Pennsylvanian Amish Country, the bank operates several branches across Lancaster County and utilizes mobile branch vans. While its primary clientele consists of Amish borrowers, the bank's services extend beyond this community.
Building
The bank’s premises include a drive-through window specifically constructed to serve horse-drawn buggies, underscoring its commitment to the local population.