Chain Bridge Bank

Chain Bridge Bank, N.A. is a boutique commercial bank based in McLean, Virginia. It was founded in 2007.[1] The bank's clients include advocacy and campaign groups[2] and as of 2015 is reported to be a 337 million dollar asset bank.[2] It has been described as "the community bank of choice for conservative political campaigns."[3]

History

Chain Bridge is run or was founded by Peter Fitzgerald, who served in the Senate as an Illinois Republican.[2][4] Fitzgerald is the son of Gerald Fitzgerald, who was chairman of Chicago's Suburban Bancorp which was sold Suburban to Bank of Montreal in 1994 for $246 million.[5] The Fitzgerald extended family has managed or founded around 57 community banks since the 1940s.[5]

Chain Bridge's clients include the political action committee for Altria Group, the parent of cigarette maker Philip Morris USA, according to data from the Federal Election Commission.[2] Chain Bridge Bank is used by several of the 2016 Republican presidential candidates, including Jeb Bush, Donald Trump, Rand Paul, and Rick Perry, and it is the only bank for several Super-PACs supporting Republican candidates, including those aligned with Carly Fiorina, Ben Carson, Bobby Jindal, and Scott Walker.[6]

Governance

Sam Schreiber, president.[7][8]

See also

Unintimidated (PAC)

References

  1. ↑ "Peter Fitzgerald: Ex-senator's tiny bank doing business the old-fashioned way". tribunedigital-chicagotribune.
  2. 1 2 3 4 Kristin Broughton (9 March 2015). "Union-Owned Bank to Mine Political Data, Target Liberal Customers". American Banker.
  3. ↑ "Chain Bridge dives into the mortgage business". Washington Business Journal. 28 September 2012.
  4. ↑ Thomas Heath (27 March 2015). "The long odds of starting a local bank: Recession, interest rates deplete ranks". Washington Post.
  5. 1 2 "Peter Fitzgerald has an old-fashioned approach to banking". fortune.com. May 13, 2009.
  6. ↑ "Where Candidates Stash Their Cash". Bloomberg Politics. 22 July 2015..
  7. ↑ Chain Bridge Bank (16 January 2014). "Chain Bridge Bank Names Sam Schreiber President". prnewswire.com.
  8. ↑ "From big to small, Sam Schreiber plans for growth at Chain Bridge Bank". Washington Business Journal. 26 September 2014.

External links

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