CHAIN BRIDGE BANCORP INC
For the period ended Jun 30, 2025. Filed Aug 12, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 12, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Income
(Dollars in thousands, except per share data)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Interest and dividend income | ||||
| Interest and fees on loans | $3,356 | $3,391 | $6,945 | $6,671 |
| Interest and dividends on securities, taxable | 5,274 | 2,872 | 9,881 | 5,738 |
| Interest on securities, tax-exempt | 279 | 285 | 561 | 579 |
| Interest on interest-bearing deposits in banks | 3,856 | 4,943 | 10,119 | 8,202 |
| Total interest and dividend income | 12,765 | 11,491 | 27,506 | 21,190 |
| Interest expense | ||||
| Interest on deposits | 971 | 815 | 1,864 | 1,623 |
| Interest on short-term borrowings | — | 102 | — | 201 |
| Total interest expense | 971 | 917 | 1,864 | 1,824 |
| Net interest income | 11,794 | 10,574 | 25,642 | 19,366 |
| Provision for (recapture of) credit losses | ||||
| Provision for (recapture of) loan credit losses | (283) | 13 | (321) | 18 |
| Provision for (recapture of) securities credit losses | (31) | (111) | (58) | (310) |
| Total provision for (recapture of) credit losses | (314) | (98) | (379) | (292) |
| Net interest income after provision for (recapture of) credit losses | 12,108 | 10,672 | 26,021 | 19,658 |
| Noninterest income | ||||
| Trust and wealth management | 305 | 239 | 575 | 426 |
| Service charges on accounts | 261 | 321 | 501 | 632 |
| Deposit placement services | 159 | 2,031 | 292 | 3,153 |
| Gain on sale of mortgage loans | 14 | 12 | 27 | 12 |
| Other income | 89 | 27 | 128 | 55 |
| Total noninterest income | 828 | 2,630 | 1,523 | 4,278 |
| Noninterest expenses | ||||
| Salaries and employee benefits | 4,130 | 3,788 | 8,538 | 7,273 |
| Professional services | 801 | 483 | 1,694 | 948 |
| Data processing and communication expenses | 733 | 664 | 1,399 | 1,259 |
| State franchise taxes | 349 | 148 | 700 | 351 |
| Occupancy and equipment expenses | 258 | 237 | 509 | 512 |
| FDIC and regulatory assessments | 202 | 155 | 430 | 348 |
| Insurance expenses | 153 | 60 | 302 | 120 |
| Directors fees | 144 | 171 | 290 | 332 |
| Other operating expenses | 389 | 299 | 868 | 603 |
| Total noninterest expenses | 7,159 | 6,005 | 14,730 | 11,746 |
| Net income before taxes | 5,777 | 7,297 | 12,814 | 12,190 |
| Income tax expense | 1,193 | 1,492 | 2,623 | 2,468 |
| Net income | $4,584 | $5,805 | $10,191 | $9,722 |
| Earnings per common share, basic and diluted2 | $0.70 | $1.27 | $1.55 | $2.13 |
2 Share information for the prior year periods gives effect to the Reclassification. During the periods presented, the number of basic and diluted weighted average shares are the same because there were no potentially dilutive instruments. Except in regard to voting and conversion rights, the rights of Class A Common Stock and Class B Common Stock are identical, and the classes rank equally and share ratably with regard to all other matters. Each share of Class B Common Stock is convertible at any time intoone share of Class A Common Stock.
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