Chain Bridge Bancorp, Inc. Reports Second Quarter 2025 Financial Results

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 second quarter of 2025 and the six months ended June 30, 2025.

“The second quarter began with deposit outflows from political organization accounts, as described in our first quarter earnings release. Deposits then increased by $179.8 million from April 16 through June 30, ending the quarter at $1.3 billion. The Company reported net income of $4.6 million, or $0.70 per basic and diluted share, for the quarter. On June 30, FTSE Russell added Chain Bridge Bancorp, Inc. to the Russell 3000® Index, among others, as part of the indices’ annual reconstitution.”

•Consolidated Net Income: $4.6 million

•Earnings Per Share: $0.70 per basic and diluted common share outstanding

•Return on Average Equity: 11.93% (on an annualized basis)

•Return on Average Assets: 1.30% (on an annualized basis)

•Book Value Per Share: $23.92

•Consolidated Net Income: $10.2 million

•Earnings Per Share: $1.55 per basic and diluted common share outstanding

•Return on Average Equity: 13.61% (on an annualized basis)

•Return on Average Assets: 1.37% (on an annualized basis)

Total consolidated deposits were $1.3 billion as of June 30, 2025, compared to $1.6 billion at March 31, 2025. IntraFi Cash Service® (ICS®) One-Way Sell® deposits increased to $121.2 million from $93.2 million in the prior quarter. As discussed further under “Political Deposit Trends,” deposit balances declined due to significant deposit outflows across six political organization clients early in the quarter, which were partially offset by increases in deposits during the latter portion of the quarter.

Compared to the second quarter of 2024, net income was $1.2 million lower, due primarily to a reduction in deposit placement services income, driven by a shift of One-Way Sell® deposits onto the balance sheet, and lower overall deposit levels, reflecting the comparison of a non-election year to elevated deposit activity during the 2024 federal election cycle.

Net income increased to $10.2 million for the six months ended June 30, 2025, from $9.7 million for the same period in 2024, driven by a $6.3 million increase in net interest income. Higher average deposit balances, particularly in the first quarter of 2025, supported growth in the investment securities portfolio, and increased cash held at the Federal Reserve. These increases were partially offset by a $2.8 million decrease in noninterest income, due to changes in One-Way Sell® deposit activity and increased use of reciprocal ICS® deposits, as well as a $3.0 million increase in noninterest expenses primarily related to operating as a public company.

Noninterest income for the second quarter of 2025 was $828 thousand, compared to $695 thousand in the first quarter of 2025 and $2.6 million for the second quarter of 2024. For the six months ended June 30, 2025, noninterest income was $1.5 million, compared to $4.3 million during the same period in 2024. The year-over-year changes compared to the three and six months ended June 30, 2024 were primarily due to lower deposit placement services income from One-Way Sell® deposits placed through the ICS® network. The changes reflect an increase in the Bank’s capital levels following the Company’s IPO, which permitted a greater portion of deposits to be retained on the balance sheet as reciprocal deposits, as well as the shifts in the composition and activity of the Bank’s political organization deposit base. Changes in One-Way Sell® balances were consistent with typical seasonal patterns associated with federal election cycles.

•Total assets were $1.4 billion, consistent with levels reported as of December 31, 2024 and June 30, 2024.

•Total deposits were $1.3 billion, compared to $1.2 billion as of December 31, 2024, and $1.3 billion as of June 30, 2024.

•Total ICS® One-Way Sell® deposits were $121.2 million, compared to $63.3 million as of December 31, 2024, and $499.2 million as of June 30, 2024.

•Interest-bearing reserves held at the Federal Reserve were $364.8 million, compared to $406.7 million as of December 31, 2024 and $471.2 million as of June 30, 2024.

•Total loans held for investment, net of the allowance for credit losses, were $283.6 million, compared to $308.8 million as of December 31, 2024, and $300.4 million as of June 30, 2024.

•The loan-to-deposit ratio was 22.45% compared to 25.09% as of December 31, 2024, and 23.42% as of June 30, 2024.

•The ratio of non-performing assets to total assets remained at 0.00%, unchanged from December 31, 2024 and June 30, 2024.

Forward-looking statements include, among other things, statements relating to: (i) changes in trade, monetary and fiscal policies of, and other activities undertaken by, governments, agencies, central banks or similar organizations, including the effects of United States federal government spending and tariffs; (ii) the level of, or changes in the level of, interest rates and inflation, including the effects on our net interest income, noninterest income, and the market value of our investment and loan portfolios; (iii) the level and composition of our deposits, including our ability to attract and retain, and the seasonality of, client deposits, including those in the ICS® network, as well as the amount and timing of deposit inflows and outflows and the concentration of our deposits; (iv) our future net interest margin, net interest income, net income, and return on equity; (v) our political organization clients’ fundraising and disbursement activities; (vi) the level and composition of our loan portfolio, including our ability to maintain the credit quality of our loan portfolio; (vii) current and future business, economic and market conditions in the United States generally or in the Washington, D.C. metropolitan area in particular; (viii) the effects of disruptions or instability in the financial system, including as a result of the failure of a financial institution or other participants in it, or geopolitical instability, including war, terrorist attacks, pandemics and man-made and natural disasters; (ix) the impact of, and changes, in applicable laws, regulations, regulatory expectations and accounting standards and policies; (x) our likelihood of success in, and the impact of, legal, regulatory or other actions, investigations or proceedings related to our business; (xi) adverse publicity or reputational harm to us, our senior officers, directors, employees or clients; (xii) our ability to effectively execute our growth plans or other initiatives; (xiii) changes in demand for our products and services; (xiv) our levels of, and access to, sources of liquidity and capital; (xv) the ability to attract and retain essential personnel or changes in our essential personnel; (xvi) our ability to effectively compete with banks, nonbank financial institutions, and financial technology firms and the effects of competition in the financial services industry on our business; (xvii) the effectiveness of our risk management and internal disclosure controls and procedures; (xviii) any failure or interruption of our information and technology systems, including any components provided by a third party; (xix) our ability to identify and address cybersecurity threats and breaches; (xx) our ability to keep pace with technological changes; (xxi) our ability to receive dividends from the Bank and satisfy our obligations as they become due; (xxii) the incremental costs of operating as a public company; (xxiii) our ability to meet our obligations as a public company, including our obligation under Section 404 of the Sarbanes-Oxley Act; and (xxiv) the effect of our dual-class structure and the concentrated ownership of our

You should not rely upon forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this press release primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, results of operations and prospects. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties and other factors, including the risks described in the “Risk Factors” section of the Company’s most recent Annual Report on Form 10-K for the year ended December 31, 2024, available at the Securities and Exchange Commission’s website (www.sec.gov).

1 Ratios for interim periods are presented on an annualized basis.

2 Return on average risk-weighted assets is calculated as net income divided by average risk-weighted assets. Average risk-weighted assets are calculated using the last two quarter ends with respect to the three-month periods presented, and the last three quarter ends with respect to the six-month periods presented.

3 Yield on average interest-earning assets is calculated as total interest and dividend income divided by average interest-earning assets.

4 Cost of funds is calculated as total interest expense divided by the sum of average total interest-bearing liabilities and average demand deposits.

5 Net interest margin is net interest income expressed as a percentage of average interest-earning assets.

6 Efficiency ratio is calculated as non-interest expense divided by the sum of net interest income and non-interest income.

7 Included in “interest-bearing deposits in other banks” on the consolidated balance sheets.

8 Total debt securities and U.S. Treasury securities are calculated as the sum of securities available for sale (AFS) and securities held to maturity (HTM). AFS securities are reported at fair value, and held to maturity securities are reported at carrying value, net of allowance for credit losses.

9 Includes loans held for sale.

10 IntraFi Cash Service® (ICS®) One-Way Sell® are deposits placed at other banks through the ICS® network. One-Way Sell® deposits are not included in the total deposits on the Company’s consolidated balance sheets. The Bank has the flexibility, subject to the terms and conditions of the IntraFi Participating Institution Agreement, to convert these One-Way Sell® deposits into reciprocal deposits which would then appear on the Company’s consolidated balance sheets.

11 Liquidity ratio is calculated as the sum of cash and cash equivalents and unpledged investment grade securities, expressed as a percentage of total liabilities.

12 Company-level capital information is calculated in accordance with banking regulatory accounting principles specified by regulatory agencies for supervisory reporting purposes.

13 The ratio of tangible common equity to tangible total assets is calculated in accordance with GAAP and represents common equity divided by total assets. The Company did not have any goodwill or other intangible assets for the periods presented.

14 Double leverage ratio represents Chain Bridge Bancorp, Inc.’s investment in Chain Bridge Bank, N.A. divided by Chain Bridge Bancorp, Inc.’s consolidated equity.

15 On October 3, 2024, the Company filed an Amended and Restated Certification of Incorporation with the Secretary of State of the State of Delaware, which reclassified and converted each outstanding share of the Company's existing common stock, par value $1.00 per share into 170 shares of Class B Common Stock (the "Reclassification"). Historical share information is presented on an as adjusted basis giving effect to the Reclassification. The number of basic and diluted weighted average shares used in computing earnings per share are the same because there are no potentially dilutive instruments.

16 Derived from audited financial statements.

17 On October 3, 2024, the Company filed an Amended and Restated Certification of Incorporation with the Secretary of State of the State of Delaware, which reclassified and converted each outstanding share of the Company's existing common stock, into 170 shares of Class B Common Stock (the “Reclassification”). The Reclassification also authorized 20,000,000 shares of Class A Common Stock, and 10,000,000 shares of Preferred Stock. Historical share information is presented on an as adjusted basis giving effect to the Reclassification. All shares and balances from previously held common stock are reflected in Class B Common Stock.

18 Share information presented prior to the Reclassification date of October 3, 2024 gives effect to the Reclassification and attributes all earnings to Class B shares because no Class A shares were outstanding prior to the Reclassification. The number of basic and diluted shares are the same because there are 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 into one share of Class A Common Stock.

19 Average balances for securities transferred from AFS to HTM at fair value are shown at carrying value. Average balances for AFS are shown at fair value, and all other HTM bonds are shown at amortized cost.

20 The yield for short term borrowings reflects interest expense incurred during the period. The amount of interest expense was less than our rounding threshold and is therefore displayed as $0.