Forbright Inc. completed its initial public offering of 7.9 million shares of Class A common stock at $18.00 per share, raising approximately $142.2 million in gross proceeds, according to a company statement.
The shares began trading on the Nasdaq Global Select Market under the ticker symbol "FRBT" (FRBT). The company granted underwriters a 30-day option to purchase up to an additional 1.185 million shares at the IPO price, less underwriting discounts and commissions.
Goldman Sachs & Co. LLC and J.P. Morgan served as joint lead book-running managers for the offering. Barclays acted as active book-running manager, while Wells Fargo Securities LLC, Piper Sandler & Co., TD Securities (USA) LLC and Santander US Capital Markets LLC served as joint bookrunners. Centerview Partners LLC acted as co-manager.
The Securities and Exchange Commission declared the registration statement on Form S-1 effective on June 10, 2026.
Forbright is a bank holding company and parent of FDIC-insured Forbright Bank. The company operates a financial services platform that includes middle-market lending, digital consumer banking, strategic advisory, and asset management services. The bank is headquartered in Chevy Chase, Maryland.
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