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Chain Bridge Bancorp, Inc. Reports First Quarter 2026 Financial Results
MCLEAN, Va.--(BUSINESS WIRE)--Chain Bridge Bancorp, Inc. (NYSE: CBNA) (the “Company”), the holding company for Chain Bridge Bank, N.A. (the “Bank”), today annou
About this update from Chain Bridge Bancorp, Inc.
[{"type":"text","content":" MCLEAN, Va.--(BUSINESS WIRE)--Chain Bridge Bancorp, Inc. (NYSE: CBNA) (the “Company”), the holding company for Chain Bridge Bank, N.A. (the “Bank”), today announced financial results for the first quarter of 2026. First Quarter 2026 Financial Highlights (Three Months Ended March 31, 2026): Consolidated Net Income: $7.1 million Earnings Per Share: $1.08 per basic and diluted common share outstanding Return on Average Equity: 16.56% (on an annualized basis) Return on Average Assets: 1.59% (on an annualized basis) Book Value Per Share: $26.65 Financial Performance For the quarter ended March 31, 2026, the Company reported net income of $7.1 million, compared to $5.3 million for the quarter ended December 31, 2025 and $5.6 million for the quarter ended March 31, 2025. Earnings per share was $1.08 for the quarter ended March 31, 2026, compared to $0.81 for the quarter ended December 31, 2025 and $0.85 for the quarter ended March 31, 2025. The Company’s consolidated total deposits were $1.7 billion at March 31, 2026, compared to $1.6 billion at December 31, 2025 and March 31, 2025. IntraFi Cash Service® (ICS®) One-Way Sell® deposits moved off the Company’s balance sheet were $595.0 million at March 31, 2026, compared to $359.9 million at December 31, 2025 and $93.2 million at March 31, 2025. The increases were driven by changes in political organization deposit balances, as defined in the Company’s public filings, as well as growth in other deposit categories, such as 501(c)(4) social welfare organization deposits. Our political depositors typically exhibit heightened activity during the quarters leading up to a federal election, contributing to the increase in balance sheet deposits and One-Way Sell® deposits as of March 31, 2026 compared to December 31, 2025 and March 31, 2025. Net income was $7.1 million for the quarter ended March 31, 2026, compared to $5.3 million for the quarter ended December 31, 2025. The change was primarily due to a $1.4 million increase in net interest income, coupled with a $1.3 million increase in deposit placement services. In addition, credit loss recaptures, which totaled $379 thousand during the first quarter of 2026 compared to $19 thousand during the fourth quarter of 2025, also contributed to the increase in net income. These components more than offset an $841 thousand increase in noninterest exp...