Chain Bridge Bancorp (CBNA) director Paul W. Leavitt to retire on Dec. 31, 2025
Rhea-AI Filing Summary
Chain Bridge Bancorp, Inc. reported that director Paul W. Leavitt has notified the boards of both the Company and its wholly owned subsidiary, Chain Bridge Bank, N.A., of his decision to retire effective December 31, 2025.
The Company explains that his retirement is in line with its corporate governance guidelines, which set a mandatory retirement age of 75. The board had granted Mr. Leavitt a waiver on April 15, 2025 so he could stand for reelection at the 2025 annual meeting, and he chose to retire at year-end to support board succession planning.
Mr. Leavitt has served on the Company’s board since December 2016 and on the Bank’s board since January 2018, including roles on the Audit, Compensation, Loan, and Trust Oversight Committees. The Company states that his retirement does not result from any disagreement with management or the boards on operations, policies, or practices.
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FAQ
What did Chain Bridge Bancorp, Inc. (CBNA) announce in this 8-K?
Chain Bridge Bancorp, Inc. announced that director Paul W. Leavitt has submitted his notice of retirement from the boards of the Company and Chain Bridge Bank, N.A., effective December 31, 2025.
Why is CBNA director Paul W. Leavitt retiring?
The Company states that Mr. Leavitt’s retirement is pursuant to its mandatory retirement age policy for directors, which sets the age at 75, and that he elected to retire at year-end to facilitate board succession planning.
Did Chain Bridge Bancorp grant any waiver to Paul W. Leavitt before his retirement?
Yes. On April 15, 2025, the Board granted Mr. Leavitt a waiver from the mandatory retirement age, allowing him to stand for reelection at the Company’s 2025 Annual Meeting of Stockholders.
How long has Paul W. Leavitt served on Chain Bridge Bancorp’s boards?
Mr. Leavitt has served as a director of the Company since December 2016 and as a director of Chain Bridge Bank, N.A. since January 2018.
What committees has Paul W. Leavitt served on at Chain Bridge Bancorp and its bank?
Mr. Leavitt has served on the Company’s Audit Committee and Compensation Committee, and on the Bank’s Loan Committee and Trust Oversight Committee.
Is Paul W. Leavitt’s retirement related to any disagreement with CBNA or its bank?
No. The Company states that his retirement is not the result of any disagreement with the Company, the Bank’s management, or the boards regarding operations, policies, or practices.