Intent to Form Holding Company

Lori A. Maley, CPA, President, and Chief Executive Officer of Bank of Bird-in-Hand, Bird-in-Hand, Pennsylvania announced the decision of the Board of Directors to form a bank holding company, subject to shareholder and regulatory approval. The Board of Directors believes that the formation of a bank holding company at this time is an important and necessary part of the Bank's strategic plans for the future. The Board of Directors believes that the holding company structure will provide the most effective organizational vehicle by which the Bank can continue to fulfill its mission of providing cost-effective and quality financial services to the community. The Board of Directors is committed to preserving the Bank's independence and its focus on the community, and believes the Bank will be better able to compete in the challenging and continually changing financial service markets of the future by adopting this new organizational structure.

The proposed name of the bank holding company is GELT Bancorp, Inc. If approved, the Bank would become a subsidiary of the bank holding company. Current shareholders of the Bank would become shareholders of the newly-formed bank holding company. Current shareholders will have the same rights and ownership percentage in the new holding company as they currently have in the Bank.

The holding company formation will not impact the Bank's operations. The Bank will continue to provide its full range of financial services comprised of personal and business lending and deposit services. The Bank's headquarters will remain in, and the holding company's headquarters will be located in, Bird-in-Hand, Pennsylvania.