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Bank of Bird-in-Hand Announces Brent Peters' Retirement

BIRD-IN-HAND, Pa.--(BUSINESS WIRE)--On June 30, 2014, Brent L. Peters, President and Chief Executive Officer of Bank of Bird-in-Hand announced his retirement to the Board of Directors effective immediately. Lori A. Maley was appointed Interim President and Chief Executive Officer. In addition, she will continue to serve as Executive Vice President and Chief Financial Officer.

“On behalf of the Board of Directors, we thank him for his service to the bank and wish him only the best in his retirement.”

Several months ago, the Board of Directors formed a Succession Committee to identify candidates for all positions at the bank as well as to succeed Mr. Peters upon his retirement. Although the Succession Committee continues its search, it has narrowed potential candidates and expects to name a new President and Chief Executive Officer in the coming weeks.

Kevin J. McClarigan, Chairman of the Board, said, “Mr. Peters was instrumental to ensuring Bank of Bird-in-Hand was the first bank in the United States to be granted a charter since The Great Recession. Without his experience, guidance, and credentials, it would not have been possible to navigate the regulatory channels to achieve this extraordinary accomplishment. Through his leadership, we have built a strong foundation on which to grow our community bank for years to come.”

Mr. McClarigan added, “On behalf of the Board of Directors, we thank him for his service to the bank and wish him only the best in his retirement.”

Bank of Bird-in-Hand is a locally owned community bank headquartered in Bird-in-Hand, Pennsylvania.

This press release may contain forward-looking statements. Actual results and trends could differ materially from those set forth in such statements due to various factors. Such factors include the possibility that increased demand or prices for the Company’s financial services and products may not occur, changing economic and competitive conditions, technological developments, and other risks and uncertainties.

Contacts

Bank of Bird-in-Hand
Kevin J. McClarigan, Chairman of the Board
Lori A. Maley, Interim President and Chief Executive Officer
717-768-8811