Forbright Announces Closing of Initial Public Offering

CHEVY CHASE, Md.--(BUSINESS WIRE)--Forbright, Inc. (“Forbright”) today announced the closing of its initial public offering of 7,900,000 shares of its Class A common stock at a public offering price of $18.00 per share for approximately $142.2 million aggregate gross proceeds to Forbright. The shares of Class A common stock began trading on the Nasdaq Global Select Market on June 11, 2026, under the ticker symbol “FRBT.”

In addition, Forbright granted the underwriters a 30-day option to purchase up to an additional 1,185,000 shares of Class A common stock at the initial public offering price, less underwriting discounts and commissions.

Goldman Sachs & Co. LLC and J.P. Morgan acted as joint lead book-running managers for the offering. Barclays acted as active book-running manager. Wells Fargo Securities, LLC, Piper Sandler & Co., TD Securities (USA) LLC and Santander US Capital Markets LLC acted as joint bookrunners. Centerview Partners LLC acted as co-manager.

A registration statement on Form S-1 relating to these securities was declared effective by the Securities and Exchange Commission (the “SEC”) on June 10, 2026. The offering was made only by means of a prospectus. Copies of the final prospectus related to the offering may be obtained by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the final prospectus may be obtained from: Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at [phone], or by email at [e-mail]; or J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, by email at [e-mail] and [e-mail].

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Forbright, Inc.

Forbright, Inc. is a bank holding company and the parent of FDIC-insured Forbright Bank, a modern financial services platform spanning nationwide middle-market lending, digital consumer banking, strategic advisory, and asset management services. Headquartered in Chevy Chase, Maryland, Forbright operates at the intersection of two powerful, structural forces reshaping the U.S. banking sector: the rapidly evolving needs of the $10 trillion national middle market and the broadly accelerating shift toward digital‑first banking.