(RTTNews) – Forbright Bank, a unit of Forbright Inc. (FRBT) said Friday it has agreed to sell its legacy branches in the Washington, D.C., area and associated deposits to Trustar Bank.
“Our national businesses have reached the scale and momentum that allow us to focus our capital, technology, and management attention where our competitive advantages are strongest,” said John Delaney, Executive Chairman and founder of Forbright Bank.
Forbright expects the deal to be accretive to 2027 earnings.
The transaction includes branches in Potomac and North Bethesda, Maryland, a customer service hub in McLean, Virginia, and approximately $750 million in local deposits. Forbright will receive a deposit premium of approximately $19 million.
The deal does not include deposits associated with Forbright’s national lending or national digital deposit strategies.
Following the transaction, Forbright said it will focus on three nationwide and complementary businesses: a scalable digital banking and deposit platform, a specialized middle-market commercial lending strategy, and fee-based advisory and servicing capabilities.
Forbright expects the sale to close in the fourth quarter of 2026.
On Thursday, Forbright shares closed down 0.37% at $19.02.
