FRBT

FRBT

CIK 0001925062

Large by assets Assets $8.5B as of Oct 11, 2026

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10-Q Filed Aug 13, 2026 · Period ending Jun 30, 2026

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8-K Filed Jul 30, 2026 · Period ending Jul 30, 2026

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8-K Filed Jun 12, 2026 · Period ending Jun 11, 2026

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S-1/A Filed Jun 8, 2026 Red flag

Forbright Bank files S-1/A for IPO of 7.9M shares at $19.00, with expected proceeds of $138.2M net

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Latest financial statements

From 10-Q filed Aug 13, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.

As filed

Consolidated Statements of Income (Unaudited)

(dollars in thousands, except per share amounts)

Description Three months ended June 30, 2026 Three months ended June 30, 2025 Six months ended June 30, 2026 Six months ended June 30, 2025
INTEREST INCOME
Loans held for investment 98,522 89,601 191,686 175,759
Loans held-for-sale 8,484 10,384 16,678 19,822
Deposits with banks 7,252 7,247 14,834 14,576
Investment securities 14,158 15,262 28,257 32,261
Other earning assets 648 804 1,364 1,776
Total interest income 129,064 123,298 252,819 244,194
INTEREST EXPENSE
Deposits 64,024 58,719 126,319 115,205
Subordinated debt, net 1,895 2,441 3,797 4,942
Other borrowings — 417 — 1,266
Total interest expense 65,919 61,577 130,116 121,413
Net interest income 63,145 61,721 122,703 122,781
Provision for credit losses 5,899 4,090 9,372 12,549
Net interest income after provision for credit losses 57,246 57,631 113,331 110,232
NON-INTEREST INCOME
Servicing income 6,876 — 13,963 —
Investment advisory fees 3,090 4,182 6,283 8,498
Fee income on loans 2,252 2,390 4,255 3,831
Gains on sales of loans and investment securities, net 252 344 218 2,170
Unrealized (losses)/gains on loans and financing receivables, net (963) 883 (2,298) 2,746
Other non-interest income 10,339 3,438 15,009 8,047
Total non-interest income 21,846 11,237 37,430 25,292
NON-INTEREST EXPENSE
Compensation and benefits 33,407 30,338 65,049 60,440
Information technology 7,581 6,885 15,121 12,896
Professional fees 9,777 2,800 17,600 6,542
Loan administration and servicing 5,500 1,089 9,625 2,756
Advertising and marketing 2,720 1,220 5,024 4,539
FDIC insurance 1,111 687 2,013 3,349
Occupancy expense 1,466 1,165 2,588 2,497
Other non-interest expense 4,214 4,071 7,213 6,896
Total non-interest expense 65,776 48,255 124,233 99,915
Income before income taxes 13,316 20,613 26,528 35,609
Income tax expense 9,194 5,504 10,774 9,373
Net income 4,122 15,109 15,754 26,236

Consolidated Balance Sheets (Unaudited)

(dollars in thousands, except per share amounts)

Description June 30, 2026 (Unaudited) December 31, 2025
ASSETS
Cash, due from banks and restricted cash 26,524 18,241
Interest-bearing deposits with banks 808,192 630,474
Cash, cash equivalents and restricted cash 834,716 648,715
Investment securities available-for-sale, at fair value 1,210,665 1,254,887
Investment securities held-to-maturity, at amortized cost, net of allowance for credit losses investment securities of $110, respectively 48,634 48,834
Loans held-for-sale 465,474 379,662
Loans held for investment, at fair value 3,481 4,645
Loans and held for investment, at amortized cost 5,595,872 5,222,234
Allowance for credit losses loan (54,621) (52,986)
Net loans held for investment, at amortized cost 5,541,251 5,169,248
Other earning assets, net 50,479 55,928
Deferred tax asset, net 145,269 153,314
Accrued interest receivable 46,445 55,155
Premises and equipment, net 47,877 30,763
Goodwill and other intangible assets, net 35,964 31,685
Other assets 75,249 56,470
Total assets 8,505,504 7,889,306
LIABILITIES
Non-interest-bearing deposits 435,065 372,444
Interest-bearing deposits 6,830,770 6,405,471
Total deposits 7,265,835 6,777,915
Subordinated debt, net 151,181 151,003
Other liabilities 121,325 137,945
Total liabilities 7,538,341 7,066,863
Commitments and contingent liabilities (Note 14)
STOCKHOLDERS’ EQUITY
Preferred stock, $0.001 par value per share; 5,000,000 shares authorized; no shares issued and outstanding — —
Common stock, $0.001 par value per share; 103,200,000 shares authorized:
Voting common stock, 28,949,031 and 19,438,060 shares issued and outstanding, respectively 29 20
Non-voting common stock, 20,748,177 and 21,242,551 shares issued and outstanding, respectively 21 21
Additional paid-in capital 628,499 490,550
Retained earnings 344,582 328,828
Accumulated other comprehensive (loss)/income (5,968) 3,024
Total stockholders’ equity 967,163 822,443
Total liabilities and stockholders’ equity 8,505,504 7,889,306

Consolidated Statements of Cash Flows (Unaudited)

(in thousands)

Description Six months ended June 30, 2026 Six months ended June 30, 2025
OPERATING ACTIVITIES
Net income 15,754 26,236
Adjustments to reconcile net income to net cash provided by/(used in) operating activities:
Depreciation and intangible asset amortization 4,788 4,216
Provision for credit losses 9,372 12,549
Accretion of net discounts on investment securities, net (3,048) (13,184)
Amortization of deferred fees and costs on loans, net (12,693) (13,181)
Increase in loans originated for sale, net (85,284) (17,092)
Gains on sales of loans and investment securities, net (218) (2,170)
Stock-based compensation 7,262 4,348
Deferred income taxes 11,179 —
Other 6,681 112
Net change in assets and liabilities:
Accrued interest receivable 8,710 (6,987)
Other assets (20,242) (21,770)
Other liabilities (4,764) (22,534)
Net cash used in operating activities (62,503) (49,457)
INVESTING ACTIVITIES
Net increase in loans held for investment, at amortized cost (369,399) (505,826)
Net decrease in loans held for investment, at fair value 1,953 1,215
Purchase of investment securities available-for-sale (247,521) (1,029,853)
Proceeds, maturities, prepayments and calls of securities available-for-sale 282,665 1,252,917
Proceeds, maturities, prepayments and calls of securities held-to-maturity 200 186
Acquisition of corporate headquarters (37,440) —
Proceeds from sales of other real estate owned 3,160 17,837
(Purchase of)/proceeds from Federal Home Loan Bank of Atlanta stock, net (473) 11,577
Other (4,806) (4,517)
Net cash used in investing activities (371,661) (256,464)
FINANCING ACTIVITIES
Net increase in deposits 487,920 415,375
Repayment of subordinated debt — (24,000)
Proceeds from other borrowings — 1,000,000
Repayments of other borrowings — (1,250,000)
Gross proceeds from issuance of common stock 142,200 —
Payment of offering costs (9,605) —
Proceeds from exercise of stock options under employee stock plans 552 1,044
Shares withheld for tax withholding and exercise of stock options and restricted shares (902) (734)
Net cash provided by financing activities 620,165 141,685
Net increase/(decrease) in cash, cash equivalents and restricted cash 186,001 (164,236)
Beginning cash, cash equivalents and restricted cash 648,715 1,179,982
Ending cash, cash equivalents and restricted cash 834,716 1,015,746

Amounts as printed on the EDGAR/iXBRL face — (dollars in thousands, except per share amounts); (in thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗

View all filings for FRBT on SEC EDGAR