BIRD-IN-HAND, PA — Lori A. Maley, CPA, President, CEO and Vice Chairman of Bank of Bird-in-Hand recently released additional details today about the Bank’s previously announced common stock offering.
The Bank will seek to raise $15 million in newly issued common shares which will be priced at $28.00 per share. The minimum purchase amount is $28,000.00 based on a subscription of 1,000 shares at $28.00 per share. In the event that the demand for shares exceeds $15 million, the Board may increase the offering amount up to $30 million. It is expected that the offering will launch on or about September 18, 2023, and shareholders and others who have expressed interest in purchasing stock will receive offering materials via email or through the U.S. Postal Service. Proceeds of the offering will be used primarily to further support the Bank’s continuing growth.
Kevin J. McClarigan, CPA, Chairman of the Board, noted that “While the past 24 months have been extremely challenging for the national economy and business environment, our community and customers have rallied together and have shown amazing resiliency. The Bank’s growth over the past two years has been nothing short of tremendous, and the momentum we have achieved makes this offering a key strategic initiative for us and will enable the Bank to continue to grow and support the local community. We are blessed to be in the fortunate position to make such a meaningful impact on the people and businesses that we call neighbors and friends.”
The Bank anticipates raising the capital from shareholders, retail investors, and the community.
Bybel Rutledge LLP, Lemoyne, Pennsylvania is serving as legal counsel to Bank of Bird-in-Hand in connection with the stock offering.
The Company emphasizes that the announcement does not constitute an offer to sell or a solicitation of an offer to buy any of the common stock. The offering is exclusively made through the written offering circular, which will be provided when available.