On Friday, Chain Bridge Bancorp (NASDAQ:BDGE_old) (NYSE: CBNA), the parent company of Chain Bridge Bank, N.A., officially filed for its initial public offering (IPO). The Delaware-chartered bank holding company, which was incorporated on May 26, 2006, operates primarily through its wholly-owned subsidiary, Chain Bridge Bank, a nationally chartered commercial bank with fiduciary powers granted by the Office of the Comptroller of the Currency (OCC).
Chain Bridge Bank began its operations on August 6, 2007, and since then, has been offering a range of banking services. The move to go public marks a significant step for the company as it seeks to expand its presence in the financial sector.
The IPO process will be supported by a team of underwriters, including Piper Sandler, Raymond James, and Hovde Group. These financial institutions will be responsible for managing the issuance and distribution of the company's shares to the public.
The announcement of the IPO has brought Chain Bridge Bancorp into the spotlight, potentially attracting investors who are interested in the banking sector. The filing indicates the company's readiness to enter the public market, although the date of the IPO and the price range for the shares have not been disclosed yet.
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