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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credit loss 0.73 % 0.96 % 4.43 % 1.09 % Total loans held for investment at amortized cost 0.70 % 0.98 % 4.39 % 1.07 % Credit Quality The Company uses several credit quality indicators to manage credit risk in an ongoing manner. The risk rating system is central to the overall credit risk management discipline and the important first step in effectively monitoring the credit quality of the portfolio. Credit risk ratings are applied individually to those classes of assets that have significant or unique credit characteristics that benefit from a case-by-case evaluation. Groups of assets that are underwritten and structured using standardized criteria and characteristics, such as statistical models (e.g., credit scoring or payment performance), are typically risk rated and monitored collectively. These are typically assets to individuals in the classes which comprise the consumer portfolio category. The following are the definitions of the Company’s credit quality indicators:

•Acceptable Risk (or better) - Assets in all classes that comprise the commercial real estate, commercial and industrial, and consumer portfolio categories that are not adversely rated, are contractually current as to principal and interest, and are otherwise in compliance with the contractual terms of the asset agreement. Management believes that there is a low likelihood of loss related to those assets that are considered Acceptable Risk or better.

•Higher Risk - Assets in this category may demonstrate weaker credit fundamentals with an above-average chance of resulting in a default combined with a lower risk of loss to create an overall risk profile which requires appropriate monitoring but do not present potential weaknesses or a warrant a lower rating.

•Special Mention - Assets in this category exhibit potential weaknesses that deserve management's close attention. If left uncorrected, these potential weaknesses may, at some future date, result in deterioration of the repayment prospects for the asset. Special Mention assets are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. While potentially weak, the asset is currently marginally acceptable, and no loss of principal or interest is envisioned.

•Substandard - A Substandard asset is inadequately protected by the current sound worth and paying capacity of the borrower or the collateral pledged, if any. Assets so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Loss potential, which exists in the aggregate amount of Substandard assets, does not have to exist in individual assets classified Substandard.

•Doubtful - Assets in this category have all the weaknesses inherent in one classified Substandard with the added characteristic that the weaknesses make collection or liquidation in full on the basis of currently existing facts, conditions and values, highly questionable and improbable. The possibility of loss is extremely high, but because of certain important and reasonably specific pending factors which may work to the advantage and strengthening of the asset, its classification as an estimated loss is deferred until its more exact status may be determined.

The Company periodically reviews and, if necessary, updates the credit quality indicator assigned to each of its loans on a case-by-case basis.

Loans Held for Investment at Amortized Cost

The following tables present by class, credit quality and year of origination, the recorded investment in the Company’s loans held for investment at amortized cost as of and for the years ended December 31, 2025 and 2024:

December 31, 2025

Loans Held for Investment at Amortized Cost by Year of Origination
(in thousands) 2025 2024 2023 2022 2021 Prior Revolving Loans Revolving Loans Converted to Term Total
Commercial Real Estate:
Acceptable risk (or better) $	1,226,416 $	284,180 $	56,976 $	238,490 $	174,345 $	94,808 $	— $	— $	2,075,215
Higher risk — 101,977 — 136,724 130,391 16,425 982 — 386,499
Special mention — — — — — — — — —
Substandard — — — 40,420 26,862 — — — 67,282
Doubtful — — — — — — — — —
Total $	1,226,416 $	386,157 $	56,976 $	415,634 $	331,598 $	111,233 $	982 $	— $	2,528,996
Gross charge-offs $	— $	— $	— $	— $	— $	— $	— $	— $	—

Commercial and Industrial:
Acceptable risk (or better) $	205,677 $	173,813 $	53,566 $	123,425 $	17,225 $	888 $	1,825,313 $	— $	2,399,907
Higher risk 144 139 — 21,312 519 — 33,000 — 55,114
Special mention — — — — 1 — — — 1
Substandard 1,431 — 12,452 701 486 2,136 781 — 17,987
Doubtful — 2,540 — — — — — — 2,540
Total $	207,252 $	176,492 $	66,018 $	145,438 $	18,231 $	3,024 $	1,859,094 $	— $	2,475,549
Gross charge-offs $	— $	1,632 $	171 $	5,493 $	78 $	— $	— $	— $	7,374
Consumer:
Acceptable risk (or better) $	— $	1,243 $	483 $	60,909 $	131,188 $	16,681 $	— $	— $	210,504
Higher risk — — — 178 249 4,901 — — 5,328
Special mention — — — — — — — — —
Substandard — — — 665 977 215 — — 1,857
Doubtful — — — — — — — — —
Total $	— $	1,243 $	483 $	61,752 $	132,414 $	21,797 $	— $	— $	217,689
Gross charge-offs $	— $	— $	— $	3,063 $	4,907 $	70 $	— $	— $	8,040
Total loans $	1,433,668 $	563,892 $	123,477 $	622,824 $	482,243 $	136,054 $	1,860,076 $	— $	5,222,234
Total gross charge-offs $	— $	1,632 $	171 $	8,556 $	4,985 $	70 $	— $	— $	15,414

December 31, 2024

Loans Held for Investment at Amortized Cost by Year of Origination
(in thousands) 2024 2023 2022 2021 2020 Prior Revolving Loans Revolving Loans Converted to Term Total
Commercial Real Estate:
Acceptable risk (or better) $	344,616 $	55,947 $	446,340 $	200,407 $	96,717 $	16,460 $	1,863 $	— $	1,162,350
Higher risk 53,090 — 131,739 174,673 42,394 10,623 998 — 413,517
Special mention 7,034 — — 66,847 24,744 4,537 — — 103,162
Substandard — — 7,160 44,694 — — — — 51,854
Doubtful — — — — — — — — —
Total $	404,740 $	55,947 $	585,239 $	486,621 $	163,855 $	31,620 $	2,861 $	— $	1,730,883
Gross charge-offs $	— $	— $	2,714 $	13,509 $	272 $	— $	— $	— $	16,495

Commercial and Industrial:
Acceptable risk (or better) $	217,395 $	84,794 $	295,022 $	50,384 $	1,440 $	1,070 $	1,159,501 $	— $	1,809,606
Higher risk 485 40,085 40,321 534 — 2,282 25,519 — 109,226
Special mention 67 — 181 302 — — 1,776 — 2,326
Substandard 63 19 19,652 26,292 — — 17,121 — 63,147
Doubtful 2,152 — — — — — — — 2,152
Total $	220,162 $	124,898 $	355,176 $	77,512 $	1,440 $	3,352 $	1,203,917 $	— $	1,986,457
Gross charge-offs $	— $	378 $	6,221 $	750 $	— $	10 $	— $	— $	7,359
Consumer:
Acceptable risk (or better) $	1,173 $	1,127 $	68,805 $	147,667 $	10,268 $	10,851 $	89 $	— $	239,980
Higher risk — — 183 249 652 4,446 1 — 5,531
Special mention — — — — — — — — —
Substandard — — 275 487 — 352 8 — 1,122
Doubtful — — — — — — — — —
Total $	1,173 $	1,127 $	69,263 $	148,403 $	10,920 $	15,649 $	98 $	— $	246,633
Gross charge-offs $	— $	— $	5,175 $	5,928 $	68 $	31 $	1,176 $	— $	12,378
Total loans $	626,075 $	181,972 $	1,009,678 $	712,536 $	176,215 $	50,621 $	1,206,876 $	— $	3,963,973
Total gross charge-offs $	— $	378 $	14,110 $	20,187 $	340 $	41 $	1,176 $	— $	36,232

The following tables present information on loans held for investment at amortized cost on non-accrual status and loans 90 days or more past due and still accruing as of December 31, 2025 and 2024:

December 31, 2025

(in thousands) Commercial Real Estate Commercial and Industrial Consumer Total
Loans 90 days or more past due and still accruing $	— $	— $	— $	—
Non-accrual loans with no allowance for credit losses $	60,361 $	116 $	1,857 $	62,334
Non-accrual loans $	60,361 $	5,484 $	1,857 $	67,702
Contractual Interest Income on Non-accrual Loans while on Non-accrual Status $	4,812 $	916 $	1,663 $	7,391

December 31, 2024