Chain Bridge Bancorp Makes History with NYSE Debut
Chain Bridge Bancorp, Inc. (NYSE: CBNA), a prominent bank holding company for Chain Bridge Bank, N.A., is set to make history today by marking its listing on the New York Stock Exchange in an unforgettable way. This milestone event signifies the completion of the first initial public offering by a U.S. banking institution in over two years, making it a significant moment in the financial world.
Founder-Led Legacy
Founded in 2007 by Chairman Peter G. Fitzgerald, a former Republican U.S. Senator, Chain Bridge Bank, N.A. has been under continuous founder leadership since its inception. Fitzgerald’s unwavering commitment to the Company and the Bank has been instrumental in shaping their banking philosophy, which centers around liquidity, asset quality, and financial strength.
Financial Triumphs
The recent IPO generated approximately $36.5 million in net proceeds for Chain Bridge Bancorp, Inc., following the underwriters’ overallotment option. Piper Sandler & Co., Raymond James & Associates, Inc., and Hovde Group, LLC played key roles as book-running managers in ensuring the success of the offering. With a portion of the proceeds allocated to repaying a line of credit, the Company plans to utilize the remaining funds for various corporate purposes, including supporting organic deposit growth and exploring strategic expansion opportunities.
About Chain Bridge Bancorp, Inc.
Chain Bridge Bancorp, Inc., a Delaware corporation, serves as the registered bank holding company for Chain Bridge Bank, National Association. Regulated and supervised by the Federal Reserve, the Company operates under the Bank Holding Company Act of 1956. As a member of the Federal Deposit Insurance Corporation (FDIC), Chain Bridge Bank, National Association offers a range of banking, trust, and wealth management services to its clientele.
In conclusion, Chain Bridge Bancorp’s historic NYSE debut signifies a momentous occasion not only for the Company and its stakeholders but also for the broader financial landscape. This achievement underscores the resilience and innovation within the banking sector, paving the way for future growth and success.
Let’s take a moment to reflect on the dedication and vision of individuals like Chairman Peter G. Fitzgerald, whose leadership has been integral to the Company’s journey. As we witness this historic milestone, let it serve as a reminder of the power of perseverance and strategic planning in achieving remarkable feats in the business world. Congratulations to Chain Bridge Bancorp, Inc. on this momentous occasion!
