Amish-Backed Bank Reaches $1.7 Billion In Assets

A popular Amish-backed bank has recently opened its eighth location, in Lancaster County, Pennsylvania. The Bank of Bird-in-Hand was founded in 2013 and has proven an unmitigated success story for its customers in the southeastern Pennsylvania region.

The bank has made news often in the past – including for its unusual means of reaching its customers – providing a “Gelt Bus” mobile bank to make business easier for its non-driving Amish and Mennonite clientele (“gelt” means “money” in Pennsylvania Dutch).

Furthermore, the Bank of Bird-in-Hand has enjoyed steady success since it became the first bank founded in three years following the late 2000s financial crisis.

Back in 2015, it was reported to have totaled over $60 million in loans in its first year in business. Ten years later, its total assets are up to $1.7 billion. More from Lancaster Online:

Founded in 2013, five of Bank of Bird-in-Hand’s original 12 directors were members of the Old Order Amish church, and Amish church members remain in active leadership.

Based in the Lancaster County village of Bird-in-Hand, the Bank of Bird-in-Hand has $1.7 billion in total assets. With a market share of 7.08%, it is the fifth largest bank in Lancaster County based on percentage of total deposits, Federal Deposit Insurance Corp. data shows.

Besides a half-dozen+ Lancaster County outlets, it has branches in both Lebanon and Dauphin County, each home to sizeable Lancaster-related Amish communities.

A bank backed by the Amish, that focuses on customer service tailored to the Amish, is most likely going to do well in the largest Amish community in the world. No doubt, though, it has had great leadership as well to help make that happen.

Despite what some might believe, the Amish are regular users of banks and financial services, maintaining checking accounts and taking out loans for building homes and starting and operating businesses. For more on how the Amish bank, check out Five Facts on the Amish and Banks.