Bank of Bird-in-Hand
| Company type | Private company |
|---|---|
| Industry | Banking |
| Founded | November 27, 2013 |
| Headquarters | , |
Key people | Alan Dakey (Former CEO) Lori Maley (CEO) |
| Products | Retail banking |
| Website | bihbank |
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 Bird-in-Hand, Pennsylvania by a group of local Amish and non-Amish investors.[2]
History
[edit]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
[edit]As of June 30, 2020[update], 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
[edit]The bank is located in Bird-in-Hand in Pennsylvanian Amish Country with several branches in and around Lancaster County, plus several vans operating as their mobile branch.[8][9] The bank caters mostly to Amish borrowers, however not exclusively.[1]
Building
[edit]The bank includes a drive-through window designed to accommodate a horse-drawn buggy.[10]
References
[edit]- ^ a b "A Local Bank in Amish Country Flourishes Amid Dearth of Small Lenders". The Wall Street Journal. March 29, 2015.
- ^ "Bank of Bird-in-Hand proposed, includes Amish investors". Lancaster Online. January 8, 2013.
- ^ "RE:Bank of Bird-in-Hand Application for Federal Deposit Insurance" (PDF). FDIC. Retrieved August 25, 2015.
- ^ "Bank of Bird-in-Hand takes to the skies". Financial Times. December 1, 2013.
- ^ "New CEO for Bank of Bird-in-Hand sees opportunities ahead". Lancaster Online. December 8, 2014.
- ^ "Central Penn Business Journal". February 14, 1017.
- ^ "Bank of Bird-in-Hand Reports on Progress of Stock Offering". www.businesswire.com. October 2, 2020. Retrieved December 30, 2020.
- ^ "Amish start-up: The bank of Bird-in-Hand". Philly.com. October 17, 2013.
- ^ "Locations & Hours". Bank of Bird-in-Hand.
- ^ "Nice gig: Lessons from one of America's youngest lenders". The Economist. August 22, 2015. Archived from the original on October 31, 2020.