Forbright, a digital-first bank that specializes in middle-market commercial lending, announced terms for its IPO on Tuesday.
The Chevy Chase, MD-based company plans to raise $150 million by offering 7.9 million shares at a price range of $18 to $20. At the midpoint of the proposed range, Forbright would command a fully diluted market value of $987 million.
Forbright traces its history back to Congressional Bank, and states that it offers a modern financial services platform spanning nationwide middle-market lending, digital consumer banking, strategic advisory and asset management services.
Forbright was founded in 2003 and booked $334 million in revenue for the 12 months ended March 31, 2026. It plans to list on the Nasdaq under the symbol FRBT. Goldman Sachs, J.P. Morgan, Barclays, Wells Fargo Securities, Piper Sandler, TD Securities, and Santander are the joint bookrunners on the deal. It is expected to price the week of June 8, 2026.
