Chain Bridge Bancorp reports Q1 EPS 85c, consensus 54c

Reports Q1 net interest income $13.85M. Reports Q1 book value per share $23.09 as of March 31, up from $21.98 as of December 31. Tier 1 leverage ratio 9.88% as of March 31. The company noted a material increase in deposits from political organization clients during Q1, primarily a post-election surge, with three accounts totaling $472.0M at quarter-end. A significant outflow of approximately $506.5M occurred across six political client accounts on April 15, after quarter-end. Peter Fitzgerald, Chairman of Chain Bridge Bancorp (CBNA), Inc., commented: “The first quarter of 2025 was the Company’s first full reporting period following its initial public offering. During the quarter, the Company managed increased deposit inflows from political organization accounts by holding the balances in cash and short-term U.S. Treasury securities. The Company reported higher earnings compared to the prior quarter. A substantial portion of these deposits flowed out shortly after quarter-end, a possibility management considered in determining the Company’s asset allocation during the quarter.”