Yes, the first day is counted towards the ATM holds, regardless of whether calendar or business hold days are used.
Below are some examples:
Business Day Holds
Deposit 1
3/28 Friday (hold day 1) 3/29 Saturday (doesn’t count) 03/30 Sunday (doesn’t count) 03/31 Monday (hold day 2) 04/01 - Release in AM
Deposit 2
3/29 - Saturday (hold day 1) 03/30 - Sunday (doesn’t count) 03/31 – Monday (hold day 2) 04/01 - Release in AM
Deposit 3
03/30 - Sunday (hold day 1) 03/31 - Monday (hold day 2) 04/01 - Release in AM
Deposit 4 (example of two day hold)
5/19 Monday (hold day 1) 5/20 Tuesday (hold day 2) 5/21 Wednesday (release in AM)
Calendar Day Holds
Deposit 1
3/28 Friday (hold day 1) 3/29 Saturday (counts, hold day 2) 3/30 Sunday (counts, release in AM)
Deposit 2
3/29 Saturday (counts, hold day 1) 3/30 Sunday (counts, hold day 2) 3/31 - Monday release in AM
Deposit 3
3/30 Sunday (counts, hold day 1) 3/31 Monday (hold day 2) 4/1 - release in AM