GELT Bancorp, Inc.’s Board of Directors (the “Corporation”), holding company for Bank of Bird-in-Hand, declared, on December 18, 2024, a special cash dividend of $0.27 per share of common stock to shareholders of record as of January 13, 2025, and payable on March 1, 2025.
“We are excited to be able to announce the special cash dividend based upon the continuing growth of Bank of Bird-in-Hand and the successful formation of the GELT Bancorp, Inc. holding company,” remarked Lori A. Maley, CPA, President, Chief Executive Officer and Vice Chairman of the Board. “Our remarkable and outstanding financial performance and results since the Bank’s founding in December of 2013 provides us the opportunity to declare a special cash dividend. This dividend is a reward to our loyal shareholders based upon the continued growth and profitability of the Corporation that reinforces our goal of creating long-term shareholder value through responsible capital allocation. Furthermore, this special cash dividend would not be possible without the steadfast support of our shareholders and the hard work and dedication of all our employees and the Board of Directors,” Ms. Maley continued.
Kevin J. McClarigan, CPA, Chairman of the Board, noted that “Over the past eleven years, the Bank of Bird-in-Hand has consistently achieved beyond-peer organic growth which the Board of Directors believes warrants us to take steps to reward our shareholders for their investments that allow us to continue to grow.” He added, “The entire Board of Directors of GELT Bancorp, Inc. is incredibly pleased and excited by the community’s continued support of our unique business model. We are committed to our customers and community to build upon that success.”
About GELT Bancorp, Inc.
GELT Bancorp, Inc. is the
holding company for Bank of Bird-in-Hand. Bank of Bird-in-Hand is a
community-owned bank with a strong focus on agricultural, small business, and
consumerl ending. Its main branch and office is located at 309 North Ronks Road, Bird-in-Hand, PA 17505. It operates additional brick-and-mortar branches as well as mobile bank branches called the GELT or Money Buses. For
additional information, including a list of all branches, please visit our
website at www.bihbank.com. Member FDIC.
As of September 30, 2024,
Bank of Bird-in-Hand had total assets of approximately $1.578 billion, total
deposits of approximately $1.307 billion, total net loans of approximately
$1.333
billion, and total shareholders’ equity of approximately $147 million.
