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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could make our Class A common stock less attractive to investors and adversely affect the market price of our Class A common stock.” Corporate Information We were originally founded in 2003 as a commercial bank chartered by the State of Maryland under the name “Congressional Bank.” In 2005 we incorporated as “Congressional Bancshares, Inc.” in Maryland, and in 2021 we reincorporated as a Delaware corporation and bank holding company, finally rebranding in 2022 as “Forbright, Inc.” The address of our principal executive offices is 4445 Willard Ave, Suite 1000, Chevy Chase, Maryland 20815 and our phone number is (301) 299-8810. Our website is www.forbrightbank.com. The information contained in, or that can be accessed through, our website is not incorporated by reference in, and is not part of, this prospectus. The inclusion of our website address in this prospectus is only as an inactive textual reference. Channels for Disclosure of Information

Following the closing of this offering, we intend to announce material information to the public through filings with the SEC, the investor relations page on our website (www.forbrightbank.com), press releases, public conference and earnings calls and public webcasts. Information contained on, or accessible through, our website and accounts is not a part of this prospectus, and the inclusion of our website and account addresses in this prospectus is only as inactive textual references.

Any updates to the list of disclosure channels through which we will announce information will be posted on the investor relations page on our website.

THE OFFERING

Issuer	Forbright, Inc.

Class A common stock offered by us	shares (or           shares if the underwriters exercise their option to purchase additional shares of Class A common stock in full).

Class A common stock offered by the selling stockholders	shares

Option to purchase additional shares of Class A common stock	We have granted the underwriters an option to purchase up to           additional shares of Class A common stock at the initial public offering price less underwriting discounts and commissions. The underwriters may exercise this option at any time within 30 days from the date of this prospectus. See “Underwriting.”

Shares of Class A common stock to be outstanding after this offering	shares of Class A common stock (or           shares if the underwriters exercise their option to purchase additional shares of Class A common stock in full).

Shares of Class B common stock to be outstanding after this offering	shares of Class B common stock.

Total Class A common stock and Class B common stock to be outstanding upon the completion of this offering	shares (or           shares if the underwriters exercise their option to purchase additional shares of Class A common stock in full).

Use of Proceeds	Assuming an initial public offering price of $          per share (the midpoint of the price range set forth on the cover page of this prospectus), we estimate that the net proceeds to us from this offering of Class A common stock, after deducting underwriting discounts and commissions and estimated offering expenses payable by us, will be approximately $          , or approximately $          if the underwriters’ option to purchase additional shares of Class A common stock is exercised in full. We will not receive any proceeds from the sale of shares of Class A common stock by the selling stockholders We intend to use the net proceeds to us from this offering for general corporate purposes. Our management will have broad discretion in the application of the net proceeds from this offering to us, and investors will be relying on the judgment of our management regarding the application of the proceeds. Each $1.00 increase (decrease) in the assumed initial public offering price per share would increase (decrease) our net proceeds by approximately $           million. Similarly, each increase (decrease) of 1,000,000 shares in the number of shares of Class A common stock offered by us would increase (decrease) the net proceeds to us by approximately $      million. See “Use of Proceeds.”

Voting	Each holder of our Class A common stock is entitled to one vote for each share on all matters submitted to a vote of stockholders, except as otherwise required by law and subject to the rights and preferences of the holders of any outstanding shares of our preferred stock. Our Class B common stock is non-voting with certain limited exceptions. See “Description of Capital Stock.”

Dividends	Holders of our common stock are only entitled to receive dividends when, as and if declared by our board of directors out of funds legally available for dividends. We do not intend to pay dividends on our Class A common stock or Class B common stock in the near term. Instead, we anticipate that all of our future earnings will be retained to support our operations and to finance the growth and development of our business. Any future determination relating to our dividend policy will be at the sole discretion of our board of directors and will depend on many factors, including the financial condition, earnings and liquidity requirements applicable to us and the Bank, regulatory constraints, and any other factors that our board of directors deems relevant in making such a determination. Our ability to pay dividends is subject to restrictions under applicable banking laws and regulations. In addition, dividends from the Bank are the principal source of funds for the payment of dividends on our stock. The Bank is subject to certain restrictions under banking laws and regulations that may limit its ability to pay dividends to us. Therefore, there can be no assurance that we will pay any dividends to holders of our Class A common stock or Class B common stock, or as to the amount of any such dividends. See “Dividend Policy.”

Exchange Listing	We intend to apply to list our shares of Class A common stock on                under the trading symbol “FRBT.”

Risk Factors	Investing in our Class A common stock involves risks. See the sections entitled “ Risk Factors ” and “Cautionary Note Regarding Forward-Looking Statements” for a discussion of factors that you should carefully consider before making an investment decision with respect to the shares of our Class A common stock offered hereby.

The number of shares of our common stock to be outstanding immediately after this offering is based on                        shares of our common stock outstanding as of           , 2026 and reflects:

•          shares of Class A common stock issuable upon the vesting and settlement of restricted stock awards (“RSAs”) outstanding under the 2014 Plan as of              , 2026;

excludes:

•          shares of Class A common stock issuable upon the exercise of options outstanding under the 2014 Plan, with a weighted average strike price of $            per share; and

•          shares of Class A common stock reserved for issuance under the 2026 Plan.

Unless otherwise indicated, the information in this prospectus:

•assumes an initial public offering price of $           per share of Class A common stock, which is the midpoint of the estimated initial public offering price range set forth on the cover page of this prospectus;

•assumes no exercise by the underwriters of their option to purchase additional shares; and

•assumes the filing and effectiveness of our amended and restated certificate of incorporation (the “Amended Certificate of Incorporation”) and the adoption of our amended and restated bylaws (the “Amended Bylaws”), each of which will occur immediately prior to the completion of this offering.

SUMMARY HISTORICAL CONSOLIDATED FINANCIAL DATA AND OTHER INFORMATION

The following tables summarize the historical consolidated financial and operating information of the Company for the periods and as of the dates indicated.

The summary consolidated statements of operations data for the years ended December 31, 2025 and December 31, 2024 and the summary consolidated balance sheet data as of December 31, 2025 and December 31, 2024 have been derived from the audited financial statements of the Company included elsewhere in this prospectus. Historical results for any prior period are not necessarily indicative of results to be expected in any future period. You should read the summary consolidated financial and other data presented below in conjunction with the information included under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the financial statements and the related notes included elsewhere in this prospectus.

As of and for the year ended December 31,

Dollars in thousands except share and per share data 2025 2024

Consolidated Statements of Operations Data

Interest income $ $	501,155

Interest expense 271,599

Net interest income 229,556
Recovery of credit losses (1,688)
Net interest income after recovery of credit losses 231,244

Non-interest income 23,113

Non-interest expense 199,990

Income before income taxes 54,367

Income tax expense 11,001

Net income 43,366

Other comprehensive income 1,398

Total comprehensive income $ $	44,764

Consolidated Balance Sheet Data
Cash, cash equivalents and restricted cash $ $	1,179,982
Investment securities available-for-sale, at fair value 1,471,468