Forbright (FRBT) investor relations material

Company overview and business model

• Operates a modern financial services platform focused on nationwide middle-market lending, digital consumer banking, strategic advisory, and asset management services.

• Growth and modernization accelerated since 2020, with a $369 million capital infusion and rebranding.

• Business model integrates digital deposit gathering, sector-specialized lending, and high-margin fee businesses, targeting the $10 trillion U.S. middle market.

• Digital deposit platform launched in May 2024, reaching $3.9 billion in deposits by March 2026, reducing reliance on wholesale funding.

• Fee-based businesses include loan sourcing/distribution, FHA/HUD lending, and solar loan servicing, leveraging proprietary networks like BancAlliance.

Financial performance and metrics

• Consolidated assets grew from $1.9 billion (2020) to $7.9 billion (2025), reaching $8.2 billion by March 2026.

• Net income increased from $12.2 million (2020) to $87.9 million (2025); Q1 2026 net income was $11.6 million.

• Net interest income rose 14.6% to $263 million in 2025; non-interest income was $70.8 million (21.2% of total revenue).

• Return on average assets was 1.22% (2025); return on average tangible common equity was 12.06%.

• Efficiency ratio improved to 62.5% in 2025 from 79.2% in 2024.

• Allowance for credit losses on loans was $52.8 million (0.98% of loans) as of March 2026.

Use of proceeds and capital allocation

• Net proceeds of ~$138.2 million (or ~$159.4 million if underwriters exercise their option) expected, based on a $19.00/share IPO price.

• Proceeds will be used for general corporate purposes, with management retaining broad discretion over allocation.

• No specific projects or acquisitions identified for the proceeds at this time.