As a reward to its loyal shareholders, the young and quickly growing Bank of Bird-in-Hand announced Friday it has declared its first cash dividend.
The special cash dividend of 20 cents per share is payable Dec. 1 to shareholders of record Oct. 15. It follows a 25% stock dividend paid in July 2018.
Lori Maley, president and chief executive officer, said the cash dividend also serves the bank’s goal of “creating long-term shareholder value through responsible capital allocation.”
Bank of Bird-in-Hand has 4.97 million shares outstanding and 521 shareholders.
Bank of Bird-in-Hand is a community-owned bank serving eastern Lancaster County and western Chester County with a strong focus on agricultural, small business and consumer lending.
Its headquarters and main branch are at 309 N. Ronks Road, Bird-in-Hand. It also has branches in Intercourse and Paradise. The bank operates a mobile branch too.
Founded in December 2013, Bank of Bird-in-Hand had total assets of $443.6 million at Aug. 31. It's been profitable since the start of 2016.
The bank holds the seventh most deposits in Lancaster County of any bank here, according to the Federal Deposit Insurance Corp.