Forbright Bank


Forbright Bank is an FDIC insured institution headquartered at 7963 Tuckerman Ln, Potomac, MD 20854.
It was founded in 2003 and has approximately $7 billion in assets. Customers can open an account at one of its 11 branches.

Deposit Rates - March 29, 2024

SAVINGS RATES APY MIN
SAV
5.00% $0 Compare
CD RATES APY MIN
12 Mo CD
5.25% $1,000 Compare

Overview 2024

General Bank Information

FDIC Insured Yes
FDIC Certificate # 57614
Date Established 2003
Assets $ 6.79 billion
Loans $ 4.57 billion
Deposits $ 5.47 billion
Capital $ 733.65 million

Summary Balance Sheet as of June 30, 2023

ASSETS
Cash & Balances due from depository institutions $ 1,109.71 million
Interest-bearing balances $ 1,074.01 million
Total securities $ 888.89 million
Federal funds sold and reverse repurchase $ 0.12 million
Net loans and leases $ 4.57 billion
Loan loss allowance $ 78.83 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 34.75 million
All other assets $ 88.27 million
     Total Assets $ 6.05 billion

LIABILITIES
Total deposits $ 5.47 billion
      Interest-bearing deposits $ 5.11 billion
      Deposits held in domestic offices $ 5.47 billion
      % insured (estimated) 89.93%
Federal funds purchased and repurchase agreements $ 95.00 million
Trading liabilities N.A.
Other borrowed funds $ 82.16 million
Subordinated debt N.A.
All other liabilities $ 58.52 millionn
      Total Liabilities $ 6.05 billion
      Shareholders’ Equity $ 733.65 million

Summary Income Statement as of June 30, 2023

INCOME AND EXPENSES
Total Interest Income $ 404.36 million
Total Interest Expense $ 174.46 million
Net interest income $ 229.90 million
Provision for loan and lease losses $ 13.05 million
Total non interest income $ 28.09 million
Total non interest expense $ 161.37 million
Pre-tax Net Operating Income $ 49.05 million


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