SEC Filing Document

Company: Forbright, Inc.
Ticker: 
CIK: 1925062
Filing Type: DRS/A
Document Type: DRS/A
Date Filed: 2026-04-08
Accession Number: 0001628279-26-000459
Exchange: 
SIC Code: 6022
SIC Description: State Commercial Banks
URL: https://www.sec.gov/Archives/edgar/data/1925062/000162827926000459/filename1.htm

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As confidentially submitted to the Securities and Exchange Commission on April 8, 2026. This Amendment No. 1 to the draft registration statement has not been publicly filed with the Securities and Exchange Commission and all information herein remains strictly confidential.

Registration No. 333-

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM S-1

REGISTRATION STATEMENT

UNDER

THE SECURITIES ACT OF 1933

Forbright, Inc.

(Exact Name of Registrant as Specified in Its Charter)

Delaware 6022 26-3126112
(State or Other Jurisdiction of Incorporation (Primary Standard Industrial (I.R.S. Employer
or Organization) Classification Code Number) Identification Number)

4445 Willard Ave, Suite 1000

Chevy Chase, Maryland 20815

(Address, including zip code, and telephone number, including area code, of Registrant’s principal executive offices)

Kori Ogrosky

Executive Vice President, Chief Legal Officer and Corporate Secretary

c/o Forbright, Inc.

4445 Willard Ave, Suite 1000

Chevy Chase, Maryland 20815

(Name, address, including zip code, and telephone number, including area code, of agent for service)

Copies to:

Michael P. Reed Skadden, Arps, Slate, Meagher & Flom LLP One Manhattan West New York, New York 10001 (212) 735-3000	Edgar J. Lewandowski Evan G. Zuckerman Simpson Thacher & Bartlett LLP 425 Lexington Avenue New York, New York 10017 (212) 455-2000

Approximate date of commencement of proposed sale to public: As soon as practicable after this registration statement is declared effective.

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. o

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. o

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. o

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer	o	Accelerated filer	o

Non-accelerated filer	☒	Smaller reporting company	o

Emerging growth company	☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided to Section 7(a)(2)(B) of the Securities Act. ☐

The registrant hereby amends this registration statement on such date or dates as may be necessary to delay its effective date until the registrant shall file a further amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act, or until the registration statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.

The information in this preliminary prospectus is not complete and may be changed. We and the selling stockholders may not sell these securities until the registration statement filed with the Securities and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities and it is not soliciting an offer to buy these securities in any jurisdiction where the offer or sale is not permitted.

Subject to Completion, dated           , 2026

PRELIMINARY PROSPECTUS

Shares

Class A Common Stock

This prospectus relates to the initial public offering of shares of Class A common stock of Forbright, Inc., a Delaware corporation and the bank holding company for Forbright Bank, our wholly owned subsidiary and a Maryland state-chartered non-member commercial bank. We are offering           shares of our Class A common stock and the selling stockholders identified in this prospectus are offering           shares of our Class A common stock. We will not receive any proceeds from the sale of shares of Class A common stock by the selling stockholders.

We expect the initial public offering price will be between $           and $           per share. Currently, no public market exists for our Class A common stock.

We intend to use the net proceeds that we receive from this offering for general corporate purposes.

Following this offering, we will have two classes of authorized common stock: Class A common stock and Class B common stock. Holders of our Class A common stock will be entitled to one vote per share on all matters to be voted on by stockholders. Each share of Class B common stock is non-voting, with limited exceptions, and subject to certain limitations, is convertible into Class A common stock.

We intend to apply to list our Class A common stock on the Nasdaq Global Select Market under the symbol “FRBT.”

We are an “emerging growth company” as deﬁned under the federal securities laws, and may take advantage of reduced public company reporting requirements and relief from certain other requirements otherwise generally applicable to public companies. See “About this Prospectus—Implications of Being an Emerging Growth Company.”

Investing in our Class A common stock involves risks. See “Risk Factors” beginning on page 24 to read about certain factors you should consider before buying our Class A common stock.

None of the United States Securities and Exchange Commission, any state securities commission, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System nor any other regulatory body has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense.

Per Share Total
Initial public offering price	$ $

Underwriting discounts and commissions (1)	$ $
Proceeds, before expenses, to us	$ $
Proceeds, before expenses, to the selling stockholders	$ $

(1)See “Underwriting” for a description of the compensation payable to the underwriters.

At our request, the underwriters have reserved up to      % of the shares of Class A common stock offered by this prospectus for sale at the initial public offering price through a directed share program to our directors, executive officers, certain employees and other designated persons. See “Underwriting—Directed Share Program.”

We have granted the underwriters an option for a period of 30 days after the date of this prospectus to purchase up to an additional           shares of Class A common stock from us at the initial public offering price less underwriting discounts and commissions.

These securities are not deposits, savings accounts or other obligations of any bank or savings association and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency and are subject to investment risks, including the possible loss of the entire amount you invest.

The underwriters expect to deliver the shares of Class A common stock against payment on or about          , 2026.

Goldman Sachs & Co. LLC J.P. Morgan

Prospectus dated            , 2026

TABLE OF CONTENTS

PROSPECTUS SUMMARY 1

THE OFFERING 17

SUMMARY HISTORICAL CONSOLIDATED FINANCIAL DATA AND OTHER INFORMATION 20

NON-GAAP FINANCIAL MEASURES 22

RISK FACTORS 24

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS 60

USE OF PROCEEDS 62

DIVIDEND POLICY 63

CAPITALIZATION 64

DILUTION 66

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 68

BUSINESS 104

SUPERVISION AND REGULATION 124

MANAGEMENT 139

EXECUTIVE AND DIRECTOR COMPENSATION 148

CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 159

PRINCIPAL AND SELLING STOCKHOLDERS 161

DESCRIPTION OF CAPITAL STOCK 163

SHARES ELIGIBLE FOR FUTURE SALE 170

U.S. FEDERAL INCOME TAX CONSIDERATIONS FOR NON-U.S. HOLDERS 172

UNDERWRITING 175

LEGAL MATTERS 182

EXPERTS 182

WHERE YOU CAN FIND ADDITIONAL INFORMATION 182

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.