March 14, 2023. BIRD-IN-HAND, Pa.-– Bank of Bird-in-Hand (the “Bank”) announced that the latest addition to the Bank’s specialized delivery network of GELT (Money) Bus branches opened on March 8, 2023 at Reifsnyder’s Ag Center, 7180 Bernville Road, Bernville, PA 19506.
The Bernville Branch is the first expansion of the Bank’s service network into Berks County in addition to its current presence in Lancaster, Chester, Lebanon and upper Dauphin Counties. The Bank operates four mobile bank branches serving 17 total locations.
“We are excited to expand our services to a new area in need of a true community bank,” remarked Lori A. Maley, CPA, President and Chief Executive Officer and Vice Chairman of the Bank. “With many banks closing branches across the state, the Federal Reserve Bank in Philadelphia recently expressed concerns about the growing number of “bank deserts” which are census track areas without financial institutions. The Bank of Bird-in-Hand is happy to be a community bank oasis in a rural banking desert. Unlike other banks in the news, the Bank of Bird-in-Hand does not have investment securities that are affected by changes in the interest rate environment. The Bank sticks to traditional “bread-and-butter” banking by accepting deposits from members of the local community and loaning that money to customers to grow businesses and purchase homes. This conservative business strategy has allowed the Bank to grow its service network while remaining well-capitalized.”
Kevin J. McClarigan, CPA, Chairman of the Board of Directors, noted that “Over the past nine years, our Bank has consistently achieved above-peer organic growth which the Board of Directors believes is tied to our unique method of delivering banking services. The Bank maintains a strong foundation on which to grow, and this provides the resources needed to meet the long-term goals of the Bank.” He added, “The entire Board of Directors is very pleased and excited by the warm welcome the Bank has received in this new community. We believe that this support is due to the Bank’s mission and our unique business model, and hope that this is the beginning of a long and prosperous relationship.”
Bybel Rutledge LLP, Lemoyne, Pennsylvania is serving as legal counsel to Bank of Bird-in-Hand.
About Bank of Bird-in-Hand
Bank of Bird-in-Hand is a community-owned bank serving Lancaster, western Chester, southern Lebanon, upper Dauphin and northern Berks Counties with a strong focus on agricultural, small business, and consumer lending. Its main branch and office is located at 309 North Ronks Road, Bird-in-Hand, PA 17505. It operates additional brick-and-mortar branches at 3540 Old Philadelphia Pike, Intercourse, PA 17534; 3314 Lincoln Highway East, Paradise, PA 17562; 1759 West Main Street, Ephrata, PA 17522; 118 Doe Run Road, Manheim, PA 17545; and 2483 Stiegel Pike, Schaefferstown, PA 17088. The Bank also operates four mobile bank branches called the GELT or Money Buses which have a schedule of hours of operation at 17 locations in Lancaster, Chester, Dauphin and Berks Counties.
As of December 31, 2022, Bank of Bird-in-Hand had total assets of approximately $1.132 billion, total deposits of approximately $894 million, total net loans of approximately $975 million, and total shareholders’ equity of approximately $115 million.
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