Forbright, Inc. reported financial results for the third quarter ended September 30, 2026. The company reported net income attributable to the Company of $20.6 million, or $0.41 of diluted earnings per share for the quarter.
Forbright reported a net interest margin of 3.18% for the quarter, which was roughly flat compared to the previous quarter. The company’s efficiency ratio improved to 69.65% for the three months ended September 30, 2026, compared to 77.39% in the prior quarter.
On the balance sheet, total assets increased to $9.6 billion as of September 30, 2026, from $8.5 billion as of June 30, 2026. Total loans grew 9.5% quarter-over-quarter to $6.6 billion. Total deposits were $7.6 billion as of September 30, 2026, compared to $7.3 billion in the prior quarter.
The company noted that the increase in deposits was primarily driven by an increase in Digital Banking deposits driven by promotions during the quarter. Additionally, the company entered into an agreement in August 2026 to sell its Washington, D.C.-area legacy branches and associated deposits to Trustar Bank. The transaction includes deposits with a September 30, 2026 value of $744 million.
Forbright’s credit quality metrics were highlighted as excellent. The core net charge-off rate was down to 3 basis points in Q3, compared to 8 basis points in the prior quarter. The provision for credit losses was $1.5 million for the three months ended September 30, 2026.
Regarding future strategy, Forbright stated that it is well-positioned to adapt to changing economic conditions. The company plans to roll out new AI capabilities in 2027, including a virtual card for AI agents and the ability to provide AI agents with permissioned, logged, and read-only access to customer data.
