Bank of Bird-in-Hand Announces Special Cash Dividend

Special Cash Dividend of $0.27 Per Share Declared, Payable September 5, 2023.

Bank of Bird-in-Hand (the “Bank”) announced today that the Board of Directors has declared a special cash dividend of $0.27 per share of common stock to shareholders of record as of August 11, 2023, and payable on September 5, 2023.

“We are excited to be able to announce the special cash dividend based upon the continuing growth of the Bank,” remarked Lori A. Maley, CPA, President, Chief Executive Officer and Vice Chairman of the Board. “Our remarkable and outstanding financial performance and results since our founding in December of 2013 provides us the opportunity to declare a special cash dividend. This dividend is a reward to our loyal shareholders based upon the continued growth and profitability of the Bank that reinforces our goal of creating long-term shareholder value through responsible capital allocation. Furthermore, this special cash dividend would not be possible without the steadfast support of our shareholders and the hard work and dedication of all our employees and the Board of Directors,” Ms. Maley continued.

Kevin J. McClarigan, CPA, Chairman of the Board, noted that “Over the past nine years, our Bank has consistently achieved beyond-peer organic growth which the Board of Directors believes warrants us to take steps to reward our shareholders for their investments that allow us to continue to grow.” He added, “The entire Board of Directors is incredibly pleased and excited by the community’s continued support of the Bank and our unique business model. We are committed to our customers and residents of our community to build upon that success.”

About Bank of Bird-in-Hand

Bank of Bird-in-Hand is a community-owned bank serving Lancaster County, western Chester County, upper Dauphin County, southern Lebanon County, and northwest Berks County 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 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 which have a schedule of hours of operation at 17 locations in Lancaster, Chester, Dauphin, and Berks Counties.

As of March 31, 2023, Bank of Bird-in-Hand had total assets of $1.193 billion, total deposits of $949.7 million, total net loans of $1.014 billion, and total shareholders’ equity of $118.2 million.

A Warning About Forward-Looking Statements

This news release may constitute forward-looking statements for purposes of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and as such may involve known and unknown risk, uncertainties and other factors which may cause the actual results of Bank of Bird-in-Hand to be materially different from future results expressed or implied by such forward-looking statements. These forward-looking statements can be identified by use of terminology such as “expect”, “plan”, “anticipate”, “believe”, “estimate”, and similar words that are intended to identify such forward-looking statements. These forward-looking statements are based on management’s current expectations, assumptions, estimates, and projections about the Corporation, the financial services industry, and the economy. The Private Securities Reform Act of 1995 provides safe harbor in the event the projected future operations are not met. There are a number of future factors such as changes in fiscal or monetary policy, or changes in the economic climate that will influence the Corporation’s future operations. These factors are difficult to predict with regard to how likely and to what degree or significance that they would occur. Actual results may differ materially from what may have been forecasted in the forward-looking statements. The Bank does not revise or update these forward-looking statements to reflect events or changed circumstances.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230621331685/en/