SEC Filing Document

Company: Forbright, Inc.
Ticker: 
CIK: 1925062
Filing Type: DRS
Document Type: DRS
Date Filed: 2026-02-13
Accession Number: 0001628279-26-000183
Exchange: 
SIC Code: 6022
SIC Description: State Commercial Banks
URL: https://www.sec.gov/Archives/edgar/data/1925062/000162827926000183/filename1.htm

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USE OF PROCEEDS 58 DIVIDEND POLICY 59 CAPITALIZATION 60 DILUTION 62 MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 64 BUSINESS 99 SUPERVISION AND REGULATION 118 MANAGEMENT 133 EXECUTIVE AND DIRECTOR COMPENSATION 138 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 140 PRINCIPAL AND SELLING STOCKHOLDERS 142 DESCRIPTION OF CAPITAL STOCK 143 SHARES ELIGIBLE FOR FUTURE SALE 147 U.S. FEDERAL INCOME TAX CONSIDERATIONS FOR NON-U.S. HOLDERS 149 UNDERWRITING 152 LEGAL MATTERS 159 EXPERTS 159 WHERE YOU CAN FIND ADDITIONAL INFORMATION 159 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F- 1 Through and including , 2026 (the 25th day after the date of this prospectus), all dealers effecting transactions in these securities, whether or not participating in this offering, may be required to deliver a prospectus. This is in addition to a dealer’s obligation to deliver a prospectus when acting as an underwriter and with respect to an unsold allotment or subscription.

We, the selling stockholders and the underwriters have not authorized anyone to provide you with different or additional information or to make any representations other than those contained in this prospectus or in any free writing prospectuses we have prepared or that has been prepared on our behalf or which we have referred you in connection with this offering of securities. We, the selling stockholders and the underwriters take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you or any representation that others may make to you. This prospectus is an offer to sell only the shares of Class A common stock offered by this prospectus, and only under circumstances in which it is lawful to do so. We, the selling stockholders and the underwriters are not making an offer of these securities in any state, country or other jurisdiction where the offer is not permitted. You should not assume that the information in this prospectus or any free writing prospectus is accurate as of any date other than the date of the applicable document regardless of its time of delivery or the time of any sales of our Class A common stock. Our business, financial condition, results of operations, cash flows and prospects may have changed since the date of the applicable document.

ABOUT THIS PROSPECTUS

Glossary

Unless otherwise indicated or the context otherwise requires, all references in this prospectus to (i) “we,” “us,” “our,” the “Company,” “Forbright” and similar terms refer to Forbright, Inc. and its consolidated subsidiaries, and (ii) our “bank”, the “Bank” and “Forbright Bank” refer to Forbright Bank, our banking subsidiary, and its consolidated subsidiaries.

Unless otherwise indicated or the context otherwise requires, all references in this prospectus to:

1940 Act	refers to the Investment Advisors Act of 1940, as amended.
ACL	refers to allowance for credit losses.
AI	refers to artificial intelligence.
AIML	refers to artificial intelligence and machine learning.
Alliance Partners	refers to Alliance Partners, our wholly owned subsidiary.
AMLA	refers to the Anti-Money Laundering Act of 2020.
BancAlliance	refers to a Maryland non-stock corporation, representing a network of banks, governed by a member-elected Board of Directors and managed by Alliance Partners.
BHCA	refers to the U.S. Bank Holding Company Act of 1956, as amended.
board of directors	refers to our board of directors.
BSA	refers to the federal Bank Secrecy Act of 1970, as amended.
CAGR	refers to compound annual growth rate.
CBLR	refers to the community bank leverage ratio.
CECL	refers to current expected credit loss.
CFPB	refers to the Consumer Financial Protection Bureau.
Code	refers to the Internal Revenue Code of 1986, as amended.
Congressional	refers to Congressional Bancshares, Inc. and its wholly-owned bank subsidiary, Congressional Bank, the predecessor entities to Forbright, Inc. and Forbright Bank, respectively, prior to our rebranding.
consumer	refers generally to individuals and other market participants that use banking services.
CPACE	refers to Commercial Property Assessed Clean Energy.
CRA	refers to the Community Reinvestment Act of 1977, as amended.
CRE	refers to commercial real estate.
customer	refers generally to our individual and business clients that use our banking services.
DIF	refers to the Deposit Insurance Fund.
Dodd-Frank Act	refers to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, as amended.
digital banking	refers to the digitization and digital platforming of traditional banking services, processes and activities.
direct banks	refers to banking institutions primarily funded through digital deposits.
Exchange Act	refers to the Securities Exchange Act of 1934, as amended.
FCRA	refers to the Fair Credit Reporting Act.
FDI Act	refers to the Federal Deposit Insurance Act, as amended, which is also known as the Bank Merger Act.
FDIC	refers to the Federal Deposit Insurance Corporation.
Federal Reserve	refers to the Board of Governors of the Federal Reserve System.
FFIEC	refers to the Federal Financial Institutions Examination Council.
FHA	refers to the Federal Housing Administration.
FHLB	refers to the Federal Home Loan Bank.

FOMC	refers to the Federal Open Market Committee.
GAAP	refers to the U.S. Generally Accepted Accounting Principles.
GLBA	refers to the Gramm-Leach-Bliley Act of 1999, as amended.
HUD	refers to the federal Department of Housing and Urban Development.
IRS	refers to the Internal Revenue Service.
JOBS Act	refers to the Jumpstart Our Business Startups Act of 2012, as amended.
middle market	refers to U.S. companies with annual revenues between $10 million and $1 billion, collectively generating approximately $10 trillion in annual revenue, as of December 31, 2025, according to the National Center for the Middle Market.
MOFR	refers to the Maryland Office of Financial Regulation.
NPS	refers to our net promoter score, which can range from a low of negative 100 to a high of positive 100, that we use to gauge customer satisfaction. NPS benchmarks can vary significantly by industry, but a score greater than zero represents a company having more promoters than detractors. NPS reflects client responses to the following question—"On a scale of zero to ten: How likely are you to recommend Forbright to a friend or colleague?" Responses of 9 or 10 are considered "promoters," responses of 7 or 8 are considered neutral or "passives," and responses of 6 or less are considered "detractors." We then subtract the number of respondents who are detractors from the number of respondents who are promoters and divide that number by the total number of respondents. Our methodology of calculating NPS reflects responses from all consumers who open an account with us and choose to respond to the survey question. In particular, it reflects responses given between January 1, 2025 and December 31, 2025, and reflects a sample size of 2,776 responses over that period. NPS gives no weight to customers who decline to answer the survey question.
OCC	refers to the Office of the Comptroller of the Currency.
OFAC	refers to the Treasury Department’s Office of Foreign Assets Control.
OREO	refers to other real estate owned.
Sarbanes-Oxley Act	refers to Sarbanes-Oxley Act of 2002, as amended.
SBA	refers to the U.S. Small Business Administration.
SEC	refers to the U.S. Securities and Exchange Commission.
Securities Act	refers to the Securities Act of 1933, as amended.
USA PATRIOT Act	refers to USA PATRIOT Act of 2001, as amended.

Certain amounts, percentages and other figures presented in this prospectus have been subject to rounding adjustments. Accordingly, figures shown as totals, dollars or percentage amounts of changes may not represent the arithmetic summation or calculation of the figures that precede them.

Our fiscal year ends December 31 of each year. References to any “year,” “quarter” or “month” mean “fiscal year,” “fiscal quarter” or “fiscal month,” respectively, unless the context requires otherwise. References to “fiscal year 2020,” “fiscal year 2024” and “fiscal year 2025” relate to our fiscal years ended December 31, 2020, December 31, 2024 and December 31, 2025, respectively.

Market and Industry Data

Unless otherwise indicated, estimates and information contained in this prospectus concerning our industry, including our general expectations, market position, market opportunity, and market size, are based on industry publications and reports generated by third-party providers (including a third-party report prepared by a management consulting firm that was commissioned by us), other publicly available studies, and our internal sources and estimates. This information involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. The content of, or accessibility through, the below sources, except to the extent specifically set forth in this prospectus, does not constitute a portion of this prospectus and is not incorporated herein.

The sources of certain statistical data, estimates and forecasts contained elsewhere in this prospectus are from the following independent industry publications and datasets:

•The American Bankers Association (“ABA”), “How Americans Bank: Most-Used Banking Methods.” November 2025;

•The National Center for the Middle Market (“NCMM”), “Year-End 2025 Middle Market Indicator,” February 2026;

•Fort Washington Investment Advisors, Inc. (“FWIA”), “Leveraged Credit Markets: Then and Now,” 2024.

Trademarks, Service Marks and Trade Names