Forbright Bank to Sell Branches and Local Deposits to Trustar Bank, Sharpening Focus on National Digital-First Growth
Forbright Bank (“Forbright”) today announced that it has entered into an agreement to sell its Washington, D.C.-area legacy branches and associated deposits to Trustar Bank. The transaction will include branches in Potomac and North Bethesda, Maryland, a customer service hub in McLean, Virginia, and approximately $750 million in local deposits for a deposit premium of approximately $19 million. No deposits associated with Forbright's national lending or national digital deposit strategies are included in the transaction. Forbright anticipates the sale will close in the fourth quarter of 2026, subject to regulatory approvals and other closing conditions, and expects the transaction to be accretive to 2027 earnings.
The transaction sharpens Forbright’s strategic focus on building a differentiated bank with 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’s digital banking platform is a powerful engine of deposit growth. It has demonstrated meaningful scale since its launch in 2022 – now serving over 100,000 accounts. Its success provides a strong foundation for long-term balance sheet growth and resilience and underpins the Bank’s ability to simplify its business and concentrate resources behind its strongest growth opportunities.
