Bank of Bird-in-Hand

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

History

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

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

As of August 2015, the Bank held assets of $96 million.[6]

Location and clientele

The Bank is located in Bird-in-Hand, Pennsylvania - the heart of Pennsylvanian Amish Country.[7] 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.[6]

References

  1. 1 2 "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. 1 2 "Nice gig: Lessons from one of America's youngest lenders". The Economist. August 22, 2015.
  7. ↑ "Amish start-up: The Bank of Bird-in-Hand". Philly.com. October 17, 2013.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.