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Bird-in-Hand, Pennsylvania (May 24, 2016) Alan W. Dakey, President and CEO of the Bank of Bird-in-Hand announced
today that the Bank has applied to the Pennsylvania Department of Banking and Securities and the FDIC seeking approval for
a branch to be established at 3540 Old Philadelphia Pike, Leacock Township, Intercourse, PA. The full-service branch will
contain 1,664 square feet, plus 1,008 square feet of shared common area, two drive-up lanes, and an ATM. Mr. Dakey stated
that the location is a fully functioning branch with good visibility and strong growth potential. The new location will be the
Banks second branch, in addition to its first branch at 309 North Ronks Road which also serves as its corporate headquarters.
The new branch will offer a full array of deposit and loan services including courier services for business customers. The
branch will also provide additional office space to support the continued strong growth that the Bank has experienced since its
opening in December 2013. Subject to regulatory approval, the Bank plans to open the branch in August 2016.
Speaking on behalf of the Board of Directors, Kevin McClarigan, Chairman of the Board, stated that, This is an opportune
time to establish our new branch and it validates the confidence and trust that our Board of Directors and shareholders had in
establishing the Bank.
On May 9, 2016, the Bank was notified by the FDIC that its de novo status would end November 27, 2016, as a result of
FDIC regulations shortening the de novo period for all de novo banks to three years, from the previous seven-year
requirement. This change will allow the Bank to follow a growth pattern fitting the market and its needs, as well as reduce
substantial reporting and regulatory requirements. The Bank anticipates moving forward with plans to raise additional capital
later this year to support the continuing growth of the Bank. Mr. Dakey commented that several bank mergers in the market
have created significant opportunities for the Bank. The Bank of Bird-in-Hands Intercourse branch will take advantage of
this opportunity to serve a market with unique needs that it knows well.
According to Dakey, the Bank of Bird-In-Hand, with local ownership, local focus and prompt local decision making, has a
strong competitive advantage over larger regional banks where decisions are made outside of the area. The Bank is small
enough to be flexible and responsive to our market, while still offering a full range of financial products and services.
This press release contains statements that are not of historical facts and may pertain to future operating results or events or
managements expectations regarding those results or events. These are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities and Exchange Act of 1934. These forwardlooking statements may include, but are not limited to, statements about our plans, objectives, expectations and intentions and
other statements contained in this press release that are not historical facts. When used in this press release, the words
expects, anticipates, intends, plans, believes, seeks, estimates, or words of similar meaning, or future or
conditional verbs, such as will, would, should, could, or may are generally intended to identify forward-looking
statements. These forward-looking statements are inherently subject to significant business, economic and competitive
uncertainties and contingencies, many of which are either beyond our control or not reasonably capable of predicting at this
time. In addition, these forward-looking statements are subject to assumptions with respect to future business strategies and
decisions that are subject to change. Actual results may differ materially from the results discussed in these forward-looking
statements. Readers of this press release are accordingly cautioned not to place undue reliance on forward-looking statements.
Bank of Bird-in-Hand disclaims any intent or obligation to update publicly any of the forward-looking statements herein,
whether in response to new information, future events or otherwise.