CHAIN BRIDGE BANCORP INC
For the period ended Dec 31, 2024. Filed Mar 21, 2025.
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FY2024 · Filed Mar 21, 2025
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Consolidated Balance Sheets
| Chain Bridge Bancorp, Inc. and Subsidiary Consolidated Balance Sheets December 31, 2024 and 2023(Dollars in thousands, except per share data) | ||
|---|---|---|
| 2024 | 2023 | |
| Assets | ||
| Cash and due from banks | $3,056 | $6,035 |
| Interest-bearing deposits in other banks | 407,683 | 310,732 |
| Total cash and cash equivalents | 410,739 | 316,767 |
| Securities available for sale, at fair value | 358,329 | 258,114 |
| Securities held to maturity, at carrying value, net of allowance for credit losses of $202 and $348, respectively (fair value of $278,951 and $283,916, respectively) | 300,451 | 308,058 |
| Equity securities, at fair value | 515 | 505 |
| Restricted securities, at cost | 2,886 | 2,613 |
| Loans held for sale | 316 | — |
| Loans, net of allowance for credit losses of $4,514 and $4,319, respectively | 308,773 | 299,825 |
| Premises and equipment, net of accumulated depreciation of $7,285 and $6,791, respectively | 9,587 | 9,858 |
| Accrued interest receivable | 4,231 | 4,354 |
| Other assets | 5,297 | 5,108 |
| Total assets | $1,401,124 | $1,205,202 |
| Liabilities and stockholders’ equity | ||
| Liabilities | ||
| Deposits: | ||
| Noninterest-bearing | 913,379 | 766,933 |
| Savings, interest-bearing checking and money market accounts | 324,845 | 328,350 |
| Time, $250 and over | 6,510 | 9,385 |
| Other time | 5,201 | 7,357 |
| Total deposits | 1,249,935 | 1,112,025 |
| Short-term borrowings | — | 5,000 |
| Accrued interest payable | 46 | 61 |
| Accrued expenses and other liabilities | 6,897 | 4,679 |
| Total liabilities | 1,256,878 | 1,121,765 |
| Commitments and contingencies | ||
| Stockholders’ equity | ||
| No par value, 10,000,000 shares authorized, no shares issued and outstanding | — | — |
| $0.01 par value, 20,000,000 shares authorized, 3,049,447 and no shares issued and outstanding, respectively | 30 | — |
| $0.01 par value, 10,000,000 shares authorized, 3,512,370 and 4,568,240 shares issued and outstanding, respectively | 35 | 46 |
| Additional paid-in capital | 74,785 | 38,264 |
| Retained earnings | 77,641 | 56,692 |
| Accumulated other comprehensive loss | (8,245) | (11,565) |
| Total stockholders’ equity | 144,246 | 83,437 |
| Total liabilities and stockholders’ equity | $1,401,124 | $1,205,202 |
| See Notes to Consolidated Financial Statements. | ||
1 On October 3, 2024, the Company filed an Amended and Restated Certification of Incorporation with the Secretary of State of the State of Delaware, which reclassified and converted each outstanding share of the Company's existing common stock, into 170 shares of Class B Common Stock (the “Reclassification”). The Reclassification also authorized 20,000,000 shares of Class A Common Stock, and 10,000,000 shares of Preferred Stock. Historical share information is presented on an as adjusted basis giving effect to the Reclassification. All shares and balances from previously held common stock are reflected in Class B Common Stock.
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