<SEC-DOCUMENT>0000950123-24-008884.txt : 20241101
<SEC-HEADER>0000950123-24-008884.hdr.sgml : 20241101
<ACCEPTANCE-DATETIME>20240816204157
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000950123-24-008884
CONFORMED SUBMISSION TYPE:	DRSLTR
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240816

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CHAIN BRIDGE BANCORP INC
		CENTRAL INDEX KEY:			0001392272
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				204957796
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DRSLTR

	BUSINESS ADDRESS:	
		STREET 1:		1445-A LAUGHLIN AVENUE
		CITY:			MCLEAN
		STATE:			VA
		ZIP:			22101
		BUSINESS PHONE:		703-748-2005

	MAIL ADDRESS:	
		STREET 1:		1445-A LAUGHLIN AVENUE
		CITY:			MCLEAN
		STATE:			VA
		ZIP:			22101
</SEC-HEADER>
<DOCUMENT>
<TYPE>DRSLTR
<SEQUENCE>1
<FILENAME>filename1.htm
<TEXT>
<HTML><HEAD>
<TITLE>DRSLTR</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE" STYLE="line-height:Normal">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right">CONFIDENTIAL </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">August 16, 2024 </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Via EDGAR </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation
Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Attention: Christian Windsor and
Madeleine Joy Mateo </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Chain Bridge Bancorp, Inc. </B></P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>Draft Registration Statement on Form <FONT STYLE="white-space:nowrap">S-1</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>Submitted July&nbsp;2, 2024 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>CIK No.&nbsp;0001392272 </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear
Mr.&nbsp;Windsor and Ms.&nbsp;Mateo: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On behalf of Chain Bridge Bancorp, Inc. (the &#147;<U>Company</U>&#148;), we are writing to submit the Company&#146;s
responses to the comment letter, dated July&nbsp;29, 2024, from the staff (the &#147;<U>Staff</U>&#148;) of the Securities and Exchange Commission (the &#147;<U>Commission</U>&#148;) relating to the Company&#146;s Draft Registration Statement on
Form <FONT STYLE="white-space:nowrap">S-1,</FONT> which was originally submitted to the Commission on July&nbsp;2, 2024 (the &#147;<U>Form <FONT STYLE="white-space:nowrap">S-1</FONT></U>&#148;). </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We are concurrently confidentially submitting in electronic form for nonpublic review Amendment No.&nbsp;1 to the Form
<FONT STYLE="white-space:nowrap">S-1</FONT> (&#147;<U>Amendment No.&nbsp;1</U>&#148;), which reflects the Company&#146;s responses to the comments received from the Staff and certain other updated information. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For ease of review, we have set forth below each of the numbered comments of the Staff&#146;s letter in italics and the Company&#146;s responses thereto,
including, where applicable, a cross-reference to the location in Amendment No.&nbsp;1 of changes made in response to the Staff&#146;s comment. Capitalized terms used herein but not defined herein have the meanings given to such terms in Amendment
No.&nbsp;1. All references to page numbers in the responses are to the pages of Amendment No.&nbsp;1. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Draft Registration Statement on Form <FONT
STYLE="white-space:nowrap">S-1</FONT></U> </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>General </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">1.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>Please disclose whether you will be a &#147;controlled company&#148; within the meaning of the corporate
governance standard of the New York Stock Exchange and provide appropriate disclosure on the prospectus cover page and risk factors. In particular, please discuss any of exemptions available to a &#147;controlled company&#148; that you intend to
utilize.</I> </P></TD></TR></TABLE> <P STYLE="margin-top:8pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Company respectfully advises the Staff that, following the completion of the offering, the Company does not intend to be treated as a
&#147;controlled company&#148; within the meaning of the corporate governance standards of the New York Stock Exchange (the &#147;<U>NYSE</U>&#148;). The Company has revised its disclosure on the cover page and pages 20 and 55-56 of Amendment
No.&nbsp;1 in response to the Staff&#146;s comment. </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">2.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>Please provide us with supplemental copies of all written communications, as defined in Rule 405 under the
Securities Act, that you, or anyone authorized to do so on your behalf, have presented or expect to present to potential investors in reliance on Section</I><I></I><I>&nbsp;5(d) of the Securities Act, whether or not you retained, or intend to
retain, copies of those communications. Please contact Madeleine Mateo at (202) <FONT STYLE="white-space:nowrap">551-3465</FONT> to discuss how to submit the materials, if any, to us for our review.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The
Company hereby advises the Staff that it will supplementally provide the Staff with copies of written communications that will be provided to potential investors in reliance on Section&nbsp;5(d) of the Securities Act of 1933, as amended. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">3.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We acknowledge that the Company conducts substantially all of its operations through its wholly-owned
subsidiary, Chain Bridge Bank, N.A. and that the Company has no other subsidiaries. Please supplementally confirm whether the Company derived at least 25</I><I></I><I>&nbsp;percent of its gross income during its last fiscal year from Chain Bridge
Bank, N.A. If so, please supplementally confirm whether the Company devotes at least 55</I><I></I><I>&nbsp;percent of its assets to and derives at least 55</I><I></I><I>&nbsp;percent of its income from Chain Bridge Bank, N.A.</I>
</P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The Company respectfully advises the Staff that the Company derived at least 25&nbsp;percent of its gross income during its last fiscal year
from Chain Bridge Bank, N.A. and that the Company devotes at least 55&nbsp;percent of its assets to and derives at least 55&nbsp;percent of its income from Chain Bridge Bank, N.A. The Company also refers the Staff to the disclosures on pages F-62
and <FONT STYLE="white-space:nowrap">F-63</FONT> of Amendment No.&nbsp;1, which show that as of December&nbsp;31, 2023, all of the Company&#146;s gross income was dividends or undistributed net income from Chain Bridge Bank, N.A. and 99.8% of the
Company&#146;s assets were its investment in Chain Bridge Bank, N.A.&#146;s common stock. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><U>Prospectus Summary, page 1</U> </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">4.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note that here and throughout the prospectus you describe the industry using compound annual growth rate
(&#147;CAGR&#148;). Because CAGR only represents two discrete snapshots in time, but does not show trends or events during the period represented, please balance your disclosure by also including the annual rates for the periods represented. For
instance, you discuss the significant impact on your earnings, total deposits and growth, from the federal election schedule, particularly the four year Presidential election schedule. Consider presenting the growth rate based on those periods.</I>
</P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on pages 2 and 109 of Amendment No.&nbsp;1 to include the
annual rates for the periods presented. The Company respectfully advises the Staff that it believes that fluctuations in interest rates have historically been the primary driver of changes in the Company&#146;s book value per share and that
fluctuations in deposits based on federal election cycles have not historically been a meaningful driver of the changes in the Company&#146;s historical book value per share. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">5.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note the chart on page 3 depicting the proportion of insured depository institutions with a national
charter and trust powers as of March</I><I></I><I>&nbsp;31, 2024. We also note your statement on page 7 that compared to many other banks, you maintain a lower proportion of assets you consider to be illiquid. Please revise your disclosure here and
throughout the registration statement to cite specific sources for the market and industry data you present.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In
response to the Staff&#146;s comment, the Company has revised the disclosure on page 3 of Amendment No.&nbsp;1 to cite the source of the market and industry data for the chart depicting the proportion of insured depository institutions with a
national charter and trust powers as of March&nbsp;31, 2024. The Company notes that the number of insured depository institutions with a national charter and the number of insured depository institutions with trust powers are publicly available at
<U>https://banks.data.fdic.gov/bankfind-suite/financialreporting</U>. In addition, the Company has revised the disclosures on pages 5, 12, 13, 74 and 75 of Amendment No.&nbsp;1 to remove the statements comparing the Company to other banks. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">6.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>Please balance your disclosure on page 9 regarding the potential advantages, including lower fixed costs, of
operating without a branch network with the possible drawbacks of operating without a branch network. For example, you state that you prioritize &#147;personal service and a relationship based approach.&#148; Revise your disclosure to clarify how
you maintain a high level of customer service despite lacking a significant physical footprint.</I> </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>:
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on pages 8, 36 and 116 of Amendment No.&nbsp;1 to
disclose that the Company&#146;s branch-less business model may limit its ability to expand its retail lending and deposit business beyond the Washington, D.C. metropolitan area. The Company respectfully advises the Staff that it believes it is able
to maintain a high level of customer service despite lacking a significant physical footprint because the majority of the Company&#146;s clients are commercial clients that interact with the Company&#146;s relationship officers telephonically or by
email and access banking services electronically. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">7.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your disclosure that you hold a notable position with corporate and trade association PACS, which
you plan to reinforce. Please revise your disclosure to clarify what you mean by notable position.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The
Company respectfully advises the Staff that the Company has revised its disclosure on pages 14 and 121 of Amendment No.&nbsp;1 to remove the reference to the Company&#146;s notable position with corporate and trade association PACs. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Deposit Composition and Strategy, page 3 </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">8.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>In order for investors to better understand your deposit business, provide an explanation of <FONT
STYLE="white-space:nowrap">&#147;one-way</FONT> sell ICS deposits.&#148;</I> </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on pages 1, 100 and 108 of Amendment No.&nbsp;1 to provide an
explanation of <FONT STYLE="white-space:nowrap">One-Way</FONT> Sell<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> and reciprocal ICS<SUP STYLE="font-size:75%; vertical-align:top">&reg;</SUP> deposits. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Experience in Serving Political Organizations, page 9 </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">9.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note the Summary Risk Factor on page 17 regarding &#147;demand deposits concentrated in political
organizations&#148; and the statement on page 9 indicating that political organizations represent a majority of your transactional accounts. We also note that fundraising activities, and consequently depositary needs, are generally influenced by the
outcome of elections. Please tell us, with a view towards revised disclosure in Risk Factors and/or where appropriate, whether you have any concentrations among your political organization clients.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In
response to the Staff&#146;s comment, the Company has revised the disclosure on pages 30 and 31 of Amendment No.&nbsp;1 to provide supplemental disclosures regarding deposit concentration among its clients that are political organizations. However,
the Company&#146;s management currently does not systematically collect or maintain granular data on the type of political organization a client may classify as (e.g., campaign committee, party committee, separate segregated fund, <FONT
STYLE="white-space:nowrap">non-connected</FONT> committee, etc.) beyond the NAICs code indicating the client is a political organization. The Company respectfully advises the Staff that it does not believe that the type of political organization
changes the risk profile related to the concentration of the Company&#146;s demand deposits in political organizations. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">10.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your disclosure that a majority of your demand deposits were represented by political organizations,
including Super PACs and Hybrid PACs. We further note your definition of Super PACs on page ii. Please revise your disclosure to also include a definition of Hybrid PACs.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In
response to the Staff&#146;s comment, the Company has revised the disclosure on page iii of Amendment No.&nbsp;1 to include a definition Hybrid PACs. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Dual Class&nbsp;Structure and Implications for Voting Rights, page 20 </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">11.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>Please disclose here and elsewhere as appropriate the percentage of Class</I><I></I><I>&nbsp;B common stock
that shareholders must keep to continue to control the outcome of matters submitted to shareholders for approval.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">As
discussed in response to Comment 1, the Company will not qualify as a &#147;controlled company&#148; within the meaning of the NYSE corporate governance standards and has no present intention to qualify as such in the future. As disclosed in
Amendment No.&nbsp;1, holders of Class&nbsp;B common stock, including members of the Fitzgerald Family, have not agreed to act together for the purpose of voting of our shares. As a result, there is no percentage of Class&nbsp;B common stock that
shareholders must keep to continue to control the outcome of matters submitted to shareholders for approval. As disclosed on the cover page of the prospectus in Amendment No.&nbsp;1, if the holders of the Class&nbsp;B common stock were to vote in
the same manner, they would be able to control the election of our board of directors and therefore limit a stockholder&#146;s ability to influence corporate matters. No person, however, is able to control the outcome of these matters. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">12.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>Consider revising the heading for this <FONT STYLE="white-space:nowrap">sub-section</FONT> so that it better
describes the importance of the dual class structure for investors in this transaction.</I> </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the heading for the <FONT STYLE="white-space:nowrap">sub-section</FONT> on
page 20 of Amendment No.&nbsp;1 so that the <FONT STYLE="white-space:nowrap">sub-heading</FONT> now reads &#147;Dual Class&nbsp;Structure and Implications for Voting Rights&#148;. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>The Offering </U></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Dividend Policy, page 22 </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">13.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your disclosure on page 59, that states that you do not intend to pay dividends on your common
stock, including your Class</I><I></I><I>&nbsp;A common stock. Revise this section to clarify that your policy applies to all common stock, particularly with regards to cash dividends.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In
response to the Staff&#146;s comment, the Company has revised the disclosure on page 22 of Amendment No.&nbsp;1 to clarify the Company&#146;s dividend policy applies to all classes of common stock. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Risk Factors, page 27 </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">14.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your disclosure that in the past, you have managed your Tier 1 leverage ratio by moving certain
deposit accounts off your balance sheet through the ICS network. Please expand your disclosure in a separate risk factor discussing the risks to your business and results of operations if you are unable to access or utilize the ICS network to manage
your Tier 1 leverage ratio. Please tell us if you would have met your minimum capital adequacy ratios for the periods presented without using the ICS program.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In
response to the Staff&#146;s comment, the Company has revised the disclosure on pages 30-31 and 106 of Amendment No.&nbsp;1 to discuss the risks to the Company&#146;s business and results of operations if the Company were to be unable to access or
utilize the ICS network to manage its Tier 1 leverage ratio. The Company respectfully advises the Staff that the Company would have met the minimum capital adequacy ratios for the periods presented without using the ICS program and has revised its
disclosure on pages 30-31 and 106 of Amendment No.&nbsp;1 to disclose its estimate of what the Tier 1 leverage ratio would have been had the Company not used the ICS program. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Liquidity risk could adversely affect our business, page 29 </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">15.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>You state that you maintain secured lines of credit with the Federal Home Loan Bank. However, on page 91 you
indicate that you have not pledged any assets to secure the availability of advances from the Federal Home Loan Bank of Atlanta. Please revise this section to clarify the current status of this reserve source of liquidity.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In
response to the Staff&#146;s comment, the Company has revised the disclosure on pages 29 and 102 of Amendment No.&nbsp;1 to clarify that the secured lines of credit with the FHLB and the Federal Reserve&#146;s discount window require us to pledge
collateral to establish credit availability. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Our deposit base is concentrated among a small number of clients, page 31 </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">16.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your disclosure that indicates that a limited number of firms provide treasury and regulatory
compliance services to political organizations. We also note that you had a significant concentration among your largest deposit clients. To the extent that you are dependent on a specific number of compliance firms for your deposit relationships
with a number of deposit clients, please discuss the concentration in greater detail.</I> </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on page 31 of Amendment No.&nbsp;1 to provide greater detail
with regard to the Company&#146;s concentration risk among the treasury, legal or regulatory compliance firms that open deposit accounts with the Bank on behalf of their clients or recommend that their clients open up their deposit accounts with the
Bank. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>We are subject to operation risk, which could adversely affect our business, page 43 </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">17.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>This risk factor appears to address general operational risks, but also addresses the specific operational
risks related to your need to transfer large sums of money for your clients in periods leading up to elections. Revise this risk factor to discuss risks related to your funds transfer activities under a separate heading which clarifies for investors
the possible impact of an error in a large fund transfer on your financial condition.</I> </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on pages 43-44 of Amendment No.&nbsp;1 to add a risk factor
with the caption &#147;Operational risks associated with funds transfer activities could adversely affect our business and financial condition.&#148; </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>The development and use of artificial intelligence presents risks and challenges, page 47 </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">18.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>This risk factor discusses risks related to AI, but does not clarify if you currently utilize AI in
operating your business, or if your key vendors utilize AI in providing their services to you or in processing your client or transaction data. Please revise this risk factor to clarify the extent to which this addresses risks related to how you
operate your business at present.</I> </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on pages 47-48 of Amendment No.&nbsp;1 to describe how the
Company utilizes AI in operating its business and the related risks of such use. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Legal, Regulatory and Compliance Risks </U></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Government regulation significantly affects our business, page 49 </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">19.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your discussion of possible changes to risk-based and leverage capital requirements. Noting that
your assets include a significant amount of low risk-weighted assets, including liquid securities and cash on deposit, please discuss the extent to which Basel III might impact a bank of your size.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In
response to the Staff&#146;s comment, the Company has revised the disclosure on pages 49-50 of Amendment No.&nbsp;1 to discuss the impact of the Basel III rules on the Company and the Bank. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>The Bank is subject to numerous &#147;fair and responsible banking&#148; laws, page 52 </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">20.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your disclosure on page 121, in which you indicate that changes to the Community Reinvestment Act
(&#147;CRA&#148;) regulations, which alter how assessments evaluate lending beyond traditional assessment areas, which may make it more challenging to maintain your current &#147;outstanding&#148; rating. Revise this risk factor to discuss the
possible impact on your business of the changes to the CRA.</I> </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the risk factor on pages 52-53 of Amendment No.&nbsp;1 captioned &#147;The
Bank is subject to numerous &#145;fair and responsible banking&#146; laws and regulations designed to protect consumers, which increase our compliance costs and subject us to potential legal liability or reputational damage&#148; to discuss the
potential impact of changes to the CRA. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>The dual-class structure of our common stock may adversely affect the trading market, page 57 </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">21.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>Please revise your disclosure to clarify the risk to investors that your multi-class structure and the
ineligibility for inclusion in certain stock market indices may adversely affect share price and liquidity.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In
response to the Staff&#146;s comment, the Company has revised the risk factor on pages 57-58 of Amendment No.&nbsp;1 to provide additional information concerning the risk that the Company&#146;s dual class structure and ineligibility for inclusion
in certain stock market indices may adversely affect the share price and liquidity of its Class&nbsp;A common stock. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Use of Proceeds, page 67 </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">22.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your intent to use the net proceeds for general corporate purposes which may include repaying debt.
If any material part of the proceeds is to be used to discharge indebtedness, please disclose the interest rate and maturity of such indebtedness. If the indebtedness to be discharged was incurred within one year, describe the use of the proceeds of
such indebtedness other than short-term borrowings used for working capital.</I> </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on page 67 of Amendment No.&nbsp;1 to provide the interest rate
and maturity of the indebtedness that the Company may repay using a portion of the net proceeds of the offering. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Management&#146;s Discussion and
Analysis of Financial Condition and Results of Operations </U></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U><FONT STYLE="white-space:nowrap">Non-Interest</FONT> Income, page 77 </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">23.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note disclosure on page 76 that your total custody and managed assets increased 86% from the first
quarter of 2023 to the same period in 2024 and 70% from the year ended December</I><I></I><I>&nbsp;31, 2022 to the year ended December</I><I></I><I>&nbsp;31, 2023. Please revise your filing, here or elsewhere, to describe the fee structure you
utilize to earn fees on assets under custody (&#147;AUC&#148;) and assets under management (&#147;AUM&#148;). Please also discuss any significant trends or concentrations in your AUC/AUM, as well as related drivers.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In
response to the Staff&#146;s comment, the Company has revised the disclosure on pages 85-86 of Amendment No.&nbsp;1 to provide additional details regarding fee structures that the Company utilizes to earn fees on assets under management and assets
under custody. The Company has also revised the disclosure on page 39 of Amendment No.&nbsp;1 to discuss the concentrations and related drivers in its assets under custody and assets under management. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Loan Portfolio, page 94 </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">24.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note that over 60% of your loan portfolio for all periods presented is residential real estate, <FONT
STYLE="white-space:nowrap">close-ended/closed-end.</FONT> Please revise your disclosures to define &#147;close-ended&#148; and <FONT STYLE="white-space:nowrap">&#147;closed-end&#148;,</FONT> here or elsewhere as appropriate.</I>
</P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on page 94 of Amendment No.&nbsp;1 to replace references to
&#147;close-ended&#148; with references to <FONT STYLE="white-space:nowrap">&#147;closed-end&#148;</FONT> and provide a definition of <FONT STYLE="white-space:nowrap">&#147;closed-end&#148;</FONT> mortgage loans. </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">25.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your disclosures on pages 31 and 111 regarding concentrations and specialization in <FONT
STYLE="white-space:nowrap">non-conforming</FONT> jumbo loans. Please revise your disclosures to quantify, here or elsewhere, what proportion of your single family residential portfolio such loans represent.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In
response to the Staff&#146;s comment, the Company has revised the disclosure on pages 35 and 124 of Amendment No.&nbsp;1 to disclose the proportion of the Company&#146;s total single-family residential mortgage portfolio that <FONT
STYLE="white-space:nowrap">non-conforming</FONT> residential jumbo mortgage loans represent. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">26.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your disclosure on page 31 that one of the main risks associated with your loan portfolio is your
exposure to certain categories of loans with relatively higher credit risk, including commercial real estate (&#147;CRE&#148;) loans. Please revise your filing, here or elsewhere as appropriate, to describe the specific details of any risk
management policies, procedures or other actions undertaken by management in response to the current environment.</I> </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on page 97 of Amendment No.&nbsp;1 to provide additional
details regarding the risk management policies, procedures and actions taken by management to manage the risks associated with the Company&#146;s loan portfolio. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">27.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your disclosure on page 85 that Other consumer loans includes multiple loan types. Please enhance
your disclosures, here or elsewhere as appropriate, to give more details regarding composition of this loan segment (e.g., proportion of different loan types or similar), changes in the mix over the periods presented, and related drivers. In
addition, quantify the proportion of loans that are secured and unsecured.</I> </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on page 95 of Amendment No.&nbsp;1 to provide more details
regarding the composition of the other consumer loans segment. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">28.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>Please disclose key characteristics of your commercial real estate portfolio that may help investors
understand any associated risks. Please disclose the amount of owner occupied versus <FONT STYLE="white-space:nowrap">non-owner</FONT> occupied properties, classification of loans by borrower type, and any geographic concentration of your loan
portfolio.</I> </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on page 95 of Amendment No.&nbsp;1 to provide additional
details regarding the Company&#146;s commercial real estate portfolio, including the amount of owner occupied versus <FONT STYLE="white-space:nowrap">non-owner</FONT> occupied properties, classifications of loans by borrower type and information
regarding the geographic concentration of the company&#146;s loan portfolio. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">29.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>Please tell us, with a view towards revised disclosure, whether there is any significant overlap between
your loan clients and your transactional depositors or their affiliates.</I> </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on page 124 of Amendment No.&nbsp;1 to provide additional
information regarding the overlap between the Company&#146;s loan clients and transactional depositors. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Deposits, page 100 </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">30.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note that the &#147;Amount&#148; column for the March</I><I></I><I>&nbsp;31, 2024 deposit data on page 90
has an asterisk but do not see disclosure explaining its meaning. Please advise where this information is provided or revise your disclosures to address it.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In
response to the Staff&#146;s comment, the Company has revised its disclosure on page 101 of Amendment No.&nbsp;1 to remove the asterisk, which had been included in the Form <FONT STYLE="white-space:nowrap">S-1</FONT> in error. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Short Term Borrowings, page 102 </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">31.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your disclosure that you have line of credit agreements with three correspondent banks. Please
enhance your disclosures here and/or in your Supplemental Funding Sources section on page 93 to provide some additional detail, such as duration, general terms, or any covenants, similar to what you disclose on page
<FONT STYLE="white-space:nowrap">F-52.</FONT> In this regard, noting that the maturity dates disclosed on page <FONT STYLE="white-space:nowrap">F-52</FONT> for these facilities have passed, your revisions should indicate whether they have been
extended and, if so, the new maturity date(s).</I> </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on page 102 of Amendment No.&nbsp;1 to provide additional
details regarding the line of credit agreements it maintains with three correspondent banks. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Liquidity and Capital Management, page 103 </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">32.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your disclosures regarding the ICS program, including here and on pages 29 and 66, among other parts
of the filing. You indicate that your assets could reach a level that would require the Bank to control the level of deposits. You also indicate that using the ICS program helps you to manage the size of your balance sheet. Please revise your
disclosures, here or elsewhere as appropriate, to describe any policies regarding deposit levels (uninsured or otherwise) and/or what parameters would typically trigger use of ICS.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The
Company respectfully advises the Staff that the Company does not maintain any policies directly relating to deposit levels that would trigger the use of the ICS program. Rather, the Company uses the ICS program as a tool to manage its liquidity and
capital, including its Tier 1 leverage ratio, which management targets at levels in excess of regulatory requirements. The Company has supplementally revised its disclosure on pages 14, 30-31, 106 and 121 of Amendment No.&nbsp;1 to provide
additional details on how the Company uses the ICS program. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Liquidity Management, page 103 </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">33.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your disclosure that deposits form a primary source of your funding, can generally be withdrawn on
demand, and deposit balances received from federal political organizations fluctuate due to the seasonality of fundraising and spending around federal elections. Please revise this section to analyze your ability to generate and obtain adequate
amounts of cash to meet your requirements and your plans for cash in the short-term (i.e., the next 12 months from the most recent fiscal period end required to be presented) and separately in the long-term (i.e., beyond the next 12 months).
Identify any known demands, commitments, events or uncertainties that are reasonably likely to result in your liquidity increasing or decreasing in any material way. Refer to Item 303 of Regulation SK.</I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In
response to the Staff&#146;s comment, the Company has revised the disclosure on pages 103-104 of Amendment No.&nbsp;1. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Supplemental Funding Sources, page 103 </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">34.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your disclosure that the Bank can request funding from ICS of up to ten percent of total assets in a
<FONT STYLE="white-space:nowrap">one-way</FONT> buy of daily maturing or term deposit products. Please revise your disclosures to clarify whether approval for such a request is guaranteed or at the discretion of ICS or another party.</I>
</P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on page 104 of Amendment No.&nbsp;1 to clarify that a request
for funding from ICS is not guaranteed and may be fulfilled in whole, in part, or not at all. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Deposit Services, page 123 </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">35.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your disclosure that you are a member of the IntraFi network of institutions which allows your
deposit clients to enroll in the ICS program to achieve full FDIC insurance. We also note that you have used the ICS network to manage your Tier 1 leverage ratio during periods of high seasonal deposits. Please expand your disclosure to provide more
detail around the ICS program, including any requirements for becoming and remaining a member of the IntraFi network, any limitations on transactions that can occur through the network, and any factors that may limit your use of the program.</I>
</P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on pages 39 and 100 of Amendment No.&nbsp;1 to provide
additional details regarding the ICS program. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Risk Management, page 126 </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">36.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note that you include a number of risk factors that discuss the possible impact on your business due to
exposure to risks, including inaccurate appraisals, cyber risk, operational risk, employee or contractor misconduct. Revise this section, or another appropriate section, to address the actions and investments that you and management have undertaken
to monitor and mitigate the operational risks discussed in the risk factors.</I> </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on pages 35 and 126 of Amendment No.&nbsp;1 to include a
description of the Company&#146;s risk management practices with respect to the risks related to inaccurate appraisals and employee or contractor misconduct. The Company respectfully refers the Staff to pages 126 and 127 of Amendment No.&nbsp;1 for
a description of the Company&#146;s risk management practices with respect to cyber risk and operational risk. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Directors and Executive Officers, page
139 </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">37.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>Please disclose the term of office of your directors and executive officers. Refer to Items 401(a) and
401(b) of Regulation <FONT STYLE="white-space:nowrap">S-K.</FONT></I> </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on page 145 of Amendment No.&nbsp;1 to disclose the term of
office of its directors. The Company also refers the Staff to the disclosures on pages 139 through 145 of Amendment No.&nbsp;1, which detail the tenures of the directors and executive officers of the Company. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Notes to Consolidated Financial Statements </U></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Note 1.
Organization and Summary of Significant Accounting Policies </U></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Reclassification, page <FONT STYLE="white-space:nowrap">F-7</FONT> </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">38.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your disclosure, here and on page <FONT STYLE="white-space:nowrap">F-30,</FONT> that certain amounts
reported in prior years &#147;may be&#148; reclassified to conform to the current year&#146;s presentation and that &#147;none of those&#148; reclassifications were significant to stockholders&#146; equity or net income. Please revise your
disclosures to clarify whether any amounts have actually been reclassified. If so, expand your disclosures to explain the nature and magnitude of the change(s). See ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap"><FONT
STYLE="white-space:nowrap">205-10-50-1.</FONT></FONT></FONT></I> </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on pages F-7 and <FONT STYLE="white-space:nowrap">F-32</FONT>
of Amendment No.&nbsp;1 to clarify there were no reclassifications for the periods presented in the Company&#146;s unaudited consolidated financial statements as of and for the six months ended June&nbsp;30, 2024 and to clarify the items that have
been reclassified for the periods presented in the Company&#146;s audited consolidated financial statements as of and for the year ended December&nbsp;31, 2023, and to explain that none of those reclassifications were material to stockholders&#146;
equity or net income. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Loss Contingencies, page <FONT STYLE="white-space:nowrap">F-41</FONT> </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">39.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your disclosure that you executed a settlement agreement with JPMorgan dated
November</I><I></I><I>&nbsp;29, 2023 related to certain litigation with Blue Flame Medical LLC. To the extent this was material, please tell us how you accounted for this settlement and in which line item the settlement amount is included in your
consolidated financial statements. In addition, please revise your filing to disclose any material amounts related to the Blue Flame and indemnification matters that were accrued as of December</I><I></I><I>&nbsp;31, 2022 related to this litigation.
See ASC <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">450-20-50.</FONT></FONT></I> </P></TD></TR></TABLE>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">The
Company respectfully advises the Staff that the execution of the November&nbsp;29, 2023 settlement agreement with JPMorgan related to litigation with Blue Flame did not have a material impact on the Company&#146;s consolidated financial statements
and there were no material amounts related to the Blue Flame litigation and indemnification matters that were accrued as of December&nbsp;31, 2022. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Note 5. Related Party Transactions, page <FONT STYLE="white-space:nowrap">F-53</FONT> </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">40.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your disclosure that a portion of the decrease in credits outstanding from your officers, directors
and their affiliates related to &#147;the cumulative effect of changes in the composition of related parties.&#148; Please revise your filing to clarify how the composition of this related party group changed during the year ended
December</I><I></I><I>&nbsp;31, 2023.</I> </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on page F-53 of Amendment No.&nbsp;1 to clarify how the
composition of the related party group changed during the year ended December 31. 2023. </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">41.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>Please revise your disclosures to clarify whether credit outstanding to related parties related entirely to
loans or to other types of receivables as well.</I> </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on page F-53 of Amendment No.&nbsp;1 to clarify that credit
outstanding to related parties relates entirely to loans. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Note 6. Deposits, page <FONT STYLE="white-space:nowrap">F-53</FONT> </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">42.</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><I>We note your disclosure of reciprocal deposits through ICS and that, in order to achieve full FDIC
insurance, some of your depositors have enrolled in this program offered through the IntraFi network. Please also include amounts in excess deposits that were placed at other participating banks as <FONT STYLE="white-space:nowrap">one-way</FONT>
sales for each of the periods presented.</I> </P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B><U>Response</U>: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">In response to the Staff&#146;s comment, the Company has revised the disclosure on pages F-19 and <FONT STYLE="white-space:nowrap">F-53</FONT>
of Amendment No.&nbsp;1 to include the amounts of excess deposits that were placed at other participating banks as <FONT STYLE="white-space:nowrap">one-way</FONT> sales for each of the periods presented. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Please contact me at (212) <FONT STYLE="white-space:nowrap">558-4175</FONT> if you have any questions or require any additional information in connection with
this letter or Amendment No.&nbsp;1. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="100%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">Sincerely,</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Catherine M. Clarkin</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">Catherine M. Clarkin</TD></TR>
</TABLE></DIV> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">cc:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Rachel G. Miller </P></TD></TR></TABLE>
<P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">(Chain Bridge Bancorp, Inc.) </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>

</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
