Former US Senator Peter Fitzgerald’s Chain Bridge Bancorp files for US IPO

(Reuters) -Chain Bridge Bancorp (NASDAQ:BDGE_old), the lender founded by former Republican U.S. Senator Peter Fitzgerald, filed for an initial public offering (IPO) in the United States on Friday.

It will be a rare share sale from the banking sector, at a time when the IPO market has been dominated by technology and biotech firms.

McLean, Virginia-based Chain Bridge, popular among Republicans, commenced operations in 2007 and has reported no non-performing loans in the last 12 years.

Its board is chaired by Fitzgerald, the former U.S. Senator from Illinois. He retired in 2005 and was succeeded by Barack Obama.