Forbright Bank has entered an agreement to sell its Washington, D.C.-area legacy branches and related deposits to Trustar Bank. The transaction supports Forbright Bank as it strengthens its focus on national digital banking and growth. The deal covers branches in Potomac and North Bethesda, Maryland. It also includes a customer service hub located in McLean, Virginia. In addition, the transaction involves approximately $750 million in local deposits.
Forbright will receive a deposit premium of approximately $19 million. However, the agreement excludes deposits linked to its national lending operations. It also excludes deposits connected to its national digital deposit strategies. The bank expects the transaction to close during the fourth quarter of 2026. Regulatory approvals and other closing conditions remain necessary before completion. Furthermore, Forbright expects the transaction to contribute positively to 2027 earnings.
“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 Bank Strengthens Digital Banking Focus
The transaction will further sharpen Forbright Bank’s strategy around its nationwide operations. The bank plans to build a differentiated financial institution around three complementary businesses. First, Forbright operates a scalable digital banking and deposit platform. Second, it maintains a specialized middle-market commercial lending strategy. Third, it provides fee-based advisory and servicing capabilities.
Meanwhile, its digital banking platform continues to support deposit growth. Forbright launched the platform in 2022 and has since expanded its customer base significantly. The platform now serves more than 100,000 accounts. Therefore, its growing scale provides an important foundation for future balance sheet expansion.
The digital platform also supports greater resilience across the bank’s operations. As a result, Forbright can simplify its business and direct resources toward stronger growth opportunities.
“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. “We are pleased to deliver our local deposit platform and loyal customers to Trustar, an exceptionally well-managed community bank known for superior customer service.”
Strategic Focus on National Banking Growth
Forbright continues to emphasize distinct value across its business operations. The bank concentrates its efforts where specialized expertise can create meaningful advantages. It also prioritizes areas where customer relationships can remain strong over time. Additionally, Forbright seeks markets where it can establish sustainable differentiation.
This strategy encourages the bank to focus resources on its strongest business opportunities. At the same time, it reduces attention to activities outside its core priorities. The sale of its local branches and deposits follows that approach. Consequently, Forbright can concentrate more capital, technology, and management resources on its nationwide businesses.
“The results across our nationwide businesses are accelerating, and the structural shifts in banking are real and durable,” said Don Cole, Chief Executive Officer of Forbright Bank. “Our job is to position Forbright to be in front of these trends, not to spread ourselves across non-core businesses. This transaction is about becoming more focused, more efficient, and better positioned for long-term growth.”
The transaction therefore represents another step in Forbright’s broader growth strategy. The bank intends to build scale through digital banking, commercial lending, and advisory services. Meanwhile, Trustar Bank will acquire the local deposit platform and associated customer relationships. The transaction will allow those customers to continue their banking relationships under Trustar’s community banking model.
Forbright expects the deal to support a more streamlined operating structure. It also expects the transaction to strengthen its ability to pursue nationwide opportunities. Overall, the agreement reflects Forbright Bank’s continued shift toward digital banking and specialized financial services. The move also highlights the bank’s strategy of concentrating resources on businesses with stronger long-term growth potential.
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News Source: Businesswire.com
