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Republican Party's Top Bank, Chain Bridge Bancorp, Seeks Up to $48 Million in U.S. IPO

Oct 1, 2024, 10:00 AM

Chain Bridge Bancorp, a Delaware-chartered bank holding company considered the Republican Party's top bank, is aiming to raise up to $48.1 million in its initial public offering (IPO) in the United States. The lender, popular among Republicans since its inception, has set terms for its IPO, planning to offer 1.85 million shares priced between $24.00 and $26.00 per share, targeting a market capitalization between $154 million and $167 million. The shares are expected to begin trading on Friday, October 4, under the ticker symbol CBNA. Chain Bridge Bancorp is known for providing banking services to political organizations.