Recent Updates — FRBT

Forbright reported third-quarter diluted earnings per share of $0.41 on net income of $20.6 million, driven by a 14% quarter-over-quarter increase in net interest income to $72.0 million and strong loan growth of 9.5%. Total loans reached $6.6 billion, while digital deposits grew by $1.0 billion following promotional efforts. The efficiency ratio improved significantly to 69.65%, and core net charge-offs declined to just 3 basis points. The company also announced an agreement to sell its Washington D.C.-area legacy branches and associated $744 million in deposits to Trustar Bank, with regulatory approval expected in the fourth quarter of 2026 and closing anticipated in the first quarter of 2027. Forbright operates as a financial holding company providing middle-market commercial lending, digital consumer banking, and fee-based advisory services.

Forbright, Inc. notified holders that it will redeem all outstanding 5.75% Fixed-to-Floating Rate Subordinated Notes due December 1, 2029, on December 1, 2026. The aggregate principal amount being redeemed is $25,000,000. The redemption price equals 100% of the principal amount plus accrued and unpaid interest through the redemption date. Forbright, Inc. operates in the cannabis industry.

Forbright, Inc. reported second quarter 2026 financial results with net income of $4.1 million, or $0.09 diluted earnings per share, a decline from $11.6 million in the prior quarter. The decrease was primarily driven by a $5.6 million one-time write-down of deferred tax assets related to IPO stock compensation rules and other IPO expenses totaling $4.8 million for the period. Net interest income rose 6% to $63.1 million, expanding net interest margin by 9 basis points to 3.19%. Total loans grew 4.8% quarter-over-quarter to $6.1 billion, while total deposits increased 1.8% to $7.3 billion. Stockholders' equity reached $967.2 million, bolstered by $131.0 million in net proceeds from the company's initial public offering. Forbright, Inc. is a bank holding company operating Forbright Bank, providing nationwide middle-market lending and digital consumer banking services.

Forbright, Inc. completed its initial public offering of 7,900,000 shares of Class A common stock at $18.00 per share, generating approximately $142.2 million in gross proceeds. The company also amended and restated its certificate of incorporation and bylaws effective June 11, 2026, to prepare for the IPO. Forbright, Inc. is a Delaware corporation involved in investment and capital management services.