Alan Dakey is stepping down after more than two years at the helm of Bank of Bird-in-Hand, the Lancaster County bank that was the first startup to emerge in the U.S. following the 2008 financial crash.
Dakey, who became the bank’s president and CEO in November 2014, will retire effective March 1. He will be replaced by Lori Maley. She joined Bank of Bird-in-Hand at its inception in 2013 as executive vice president and CFO
“She has been a valuable member of the executive management team since the bank was formed,” said Kevin J. McClarigan, chairman of the bank’s board of directors. “Her succession to president and chief executive officer was determined after careful consideration by the board of directors to ensure that the Bank of Bird-in-Hand will have strong, experienced, competent and committed leadership for the future.”
Maley served briefly as interim CEO after the bank’s original leader, Brent Peters, retired in July 2014.
Dakey came on board four months later, following a stint as CEO of Peoples Neighborhood Bank from 2008 to 2013. Dakey also served as president and CEO of Millersburg-based Mid Penn Bank from 1993 to 2008.
In an interview, Dakey, 65, said he joined with the expectation of helping Bank of Bird-in-Hand through its startup phase and then passing the torch to longer-term management. The bank exited its official startup phase last fall thanks to a change in federal rules governing new banks.
Under his leadership, the bank, based in Leacock Township, grew from $73 million in assets to $181 million.
It also added a second branch, in Leacock Township, and is planning to open an operations center this spring in Paradise Township, Dakey said.
In addition, it raised $12 million in capital last fall and has hired 21 people since the middle of last year. The bank employs 34 people, with four more expected to join soon, Dakey added.
Dakey said that he expects to retire to northeast Pennsylvania, where he is from originally.
Maley will become the second woman CEO of a bank based in Central Pennsylvania. She was recently named to the Pennsylvania Bankers Association’s women in banking advisory committee, and was honored by the Central Penn Business Journal as a winner in the 2016 Women of Influence awards.
Before joining Bank of Bird-in-Hand, she was the acting chief accounting officer and senior vice president/controller at Customers Bancorp Inc. from 2011 until 2013. She also was CFO of Berkshire Bank from 2003 until 2011.