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Bank of Bird-in-Hand gets FDIC approval, sets grand opening

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The Bank of Bird-in-Hand, shown here still under renovation, will open Saturday.
The Bank of Bird-in-Hand, shown here still under renovation, will open Saturday. - (Photo / File)

Bank of Bird-in-Hand finally is open for business.

The Lancaster County bank, the first new bank to open in the United States in three years, has received all of the federal and state approvals necessary and will have a grand opening Saturday.

The bank had been waiting for its final approval from the Federal Deposit Insurance Corp. on its deposit insurance and received it late Wednesday. The Pennsylvania Department of Banking and Securities had already issued its provisional approval for the bank to open, contingent on the approval from the FDIC.

With the FDIC's approval, the state issued its final approval Friday so that the bank could open for transactions Monday morning, according to Todd Newpher, vice president and the bank's retail officer.

"The board of directors, organizers and shareholders know that it has been a long and winding road, but we feel that in the end it has been very worthwhile," said Brent L. Peters, vice chairman, president and CEO of Bank of Bird-in-Hand. "We now embark upon our business at hand which is creating a good corporate citizen that will be a valued partner for our customers."

The bank, at 309 N. Ronks Road in Leacock Township, raised about $17 million in start-up capital from about 200 shareholders. It had been selling stock since the spring, and planning on the bank had been going on for more than a year.

It is currently open to shareholders and other stakeholders, along with their families, before a grand opening Saturday. The bank will have a ceremony at 8:30 a.m. before opening to the public at 9 a.m.

Bank of Bird-in-Hand location


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Michael Sadowski

Michael Sadowski

Mike Sadowski covers Lebanon County, banking and finance, law and the legal community, and technology. Have a tip or question for him? Email him at michaels@cpbj.com. Follow him on Twitter, @MikeCPBJ. Circle Michael Sadowski on .

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