Earnings release
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Forbright, Inc. Reports Third Quarter 2026 Results EPS of $0.41 on a fully diluted basis for the quarter Net interest income up 14% QoQ Loan balances up 9.5% QoQ and 24% YoY Digital deposits grew by $1 billion QoQ driven by promotion Core net charge-offs declined to 3 basis points in Q3 FOR IMMEDIATE RELEASE — CHEVY CHASE, MD, October 29, 2026 Fellow Shareholders, Forbright, Inc.(1) (Nasdaq FRBT), the parent company of wholly-owned subsidiary Forbright Bank (the "Bank"), today reported financial results for the third quarter ended September 30, 2026. Last quarter, we committed to writing to you plainly, so we will start with the headline: this was a strong quarter. The Company met or exceeded nearly every key performance metric we track relative to our expectations for the quarter. In addition, we believe the business is well-positioned for a strong finish to 2026 and a strong start to 2027. Looking ahead, we believe our credit discipline, commitment to process and expense management, efficient digital funding platform, and focused lending strategies and fee businesses position the Company very well for long-term growth. We will begin, as we should, with the numbers for this quarter: • Net income attributable to the Company was $20.6 million, or $0.41 of diluted earnings attributable to the Company per outstanding share for this quarter. • Loans grew 9.5% — from $6.1 billion last quarter to $6.6 billion this quarter. • Net Interest Margin of 3.18% was roughly flat this quarter, compared to 3.19% last quarter. • Credit quality was excellent. Loans on non-accrual were down, our average loan risk rating improved, and our core net charge-off rate was down to 3 basis points from 8 basis points in the prior quarter. • Future growth is supported by $7.6 billion in deposits and $1.9 billion in cash and investments at quarter-end, excluding $744 million of deposits and $721 million of cash classified as held-for-sale. While current conditions remain favorable, we endeavor to operate the business prudently and believe we are well-positioned to adapt to changing economic conditions. n Net interest income was $72.0 million for the three months ended September 30, 2026, an increase of $8.8 million from the three months ended June 30, 2026. n Net interest income was $194.7 million for the nine months ended September 30, 2026, a decrease of $1.3 million from the nine months ended September 30, 2025. Quarter-over-Quarter Year-over-Year 1 (1) Forbright, Inc. is referred to as "Forbright," the "Company," "we," "our," or "us" throughout this press release.
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n Provision for credit losses was $1.5 million for the three months ended September 30, 2026, compared to $5.9 million for the three months ended June 30, 2026. Ratio of net charge-offs to average total loans at amortized cost was 0.08% for the three months ended September 30, 2026, compared to 0.20% for the three months ended June 30, 2026. n Provision for credit losses was $10.9 million for the nine months ended September 30, 2026, compared to $17.3 million for the nine months ended September 30, 2025. Ratio of net charge-offs to average total loans at amortized cost was 0.19% for the nine months ended September 30, 2026, compared to 0.23% for the nine months ended September 30, 2025. n Net interest margin was 3.18% for the three months ended September 30, 2026, a decrease of 1 basis point from the three months ended June 30, 2026. n Net interest margin was 3.16% for the nine months ended September 30, 2026, a decrease of 67 basis points from the nine months ended September 30, 2025. n Efficiency ratio was 69.65% for the three months ended September 30, 2026, compared to 77.39% for the three months ended June 30, 2026. n Efficiency ratio was 74.51% for the nine months ended September 30, 2026, compared to 61.29% for the nine months ended September 30, 2025. n Return on average stockholders' equity was 8.20% for the three months ended September 30, 2026, compared to 1.89% for the three months ended June 30, 2026. n Return on average stockholders' equity was 5.38% for the nine months ended September 30, 2026, compared to 10.31% for the nine months ended September 30, 2025. n Return on average tangible common equity(2) was 8.68% for the three months ended September 30, 2026, compared to 2.19% for the three months ended June 30, 2026. n Return on average tangible common equity(2) was 5.76% for the nine months ended September 30, 2026, compared to 10.91% for the nine months ended September 30, 2025. n Non-interest income was $29.1 million for the three months ended September 30, 2026, compared to $21.8 million for the three months ended June 30, 2026. n Non-interest income was $66.5 million for the nine months ended September 30, 2026, compared to $49.4 million for the nine months ended September 30, 2025. n Core non-interest income(2) was $17.1 million for the three months ended September 30, 2026, compared to $15.7 million for the three months ended June 30, 2026. n Core non-interest income(2) was $47.9 million for the nine months ended September 30, 2026, compared to $29.1 million for the nine months ended September 30, 2025. Quarter-over-Quarter Year-over-Year __________________ (2) Non-GAAP financial measure. See "Non-GAAP Financial Measures" section of this press release for a reconciliation to the most directly comparable GAAP measure. BALANCE SHEET SUMMARY Total assets increased $1.1 billion to $9.6 billion as of September 30, 2026, from $8.5 billion as of June 30, 2026. On August 21, 2026, the Bank entered into an agreement to sell its Washington, D.C.-area legacy branches and associated deposits to Trustar Bank (the "Branch Sale"). The transaction will include branches in Potomac and North Bethesda, Maryland, a customer service hub in McLean, Virginia, and local deposits with a September 30, 2026 value of $744 million. We expect the Branch Sale to receive regulatory approval during the fourth quarter of 2026 and close during the first quarter of 2027. The increase in assets was primarily due to a build-up of cash, primarily recognized in assets held-for-sale, in anticipation of the Branch Sale and loan growth, partially offset by a decrease in investment securities. Loans Total loans were $6.6 billion as of September 30, 2026, an increase of $577.8 million from $6.1 billion as of June 30, 2026. The increase in loans was primarily due to new originations and balance increases in Healthcare Finance within Commercial Real Estate and Commercial and Industrial, and Lender Finance, Fund Finance, Asset Finance, and Project Finance within Commercial and Industrial loans held for investment. Investment Securities Total carrying amount of investment securities was $1.1 billion as of September 30, 2026, compared to $1.3 billion as of June 30, 2026. Investment securities decreased $0.2 billion due to maturities of U.S. Treasury securities. 2
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Deposits Total deposits were $7.6 billion as of September 30, 2026, compared to $7.3 billion as of June 30, 2026. The increase in deposits was primarily due to an increase in Digital Banking deposits driven by promotions during the quarter, partially offset by the reclassification of $743.9 million of deposits to held-for-sale liabilities in connection with the Branch Sale. Borrowed Funds Total borrowed funds were relatively flat at $151.3 million as of September 30, 2026, compared to $151.2 million as of June 30, 2026. Stockholders' Equity Total stockholders' equity was $991.7 million as of September 30, 2026, compared to $967.2 million as of June 30, 2026. The increase was primarily driven by the issuance of 1.0 million shares of common stock resulting in proceeds, net of issuance costs, of $17.1 million in connection with the overallotment option associated with the Company's initial public offering and net income for the quarter, partially offset by the impact of unrealized losses on investment securities available-for-sale in other comprehensive loss. OUR VIEW This quarter demonstrates the strength of our business model and continued execution against our growth strategy. Lending: Loan growth was 9.5% QoQ, driven by over $1 billion in originations. Growth was particularly strong in our Healthcare Finance strategy and each of our six lending businesses enters the fourth quarter with a strong pipeline. Spreads remain very competitive, and we continue to focus on conservative deal structures. Fee Businesses: Our FHA/HUD strategy had a good quarter, including some catch-up from a slower second quarter. As noted last quarter, we expect results in this business to vary meaningfully QoQ. Our other fee businesses performed generally in line with plan. We have strategic and operational work to do to re-start growth in Alliance Partners, and that work began this past quarter. Higher long-term rates are expected to extend the duration of the servicing book in Solar Servicing. One note on presentation in our fee businesses: Solar Servicing amounts are increased both in non-interest income and non-interest expense by reimbursable expenses of $7.2 million this quarter, with no impact on Forbright's earnings. As master servicer, we pass certain expenses (including legal expenses) through to the owners of the loans we service. That has always been the case, but extensive litigation in the residential solar sector has magnified the effect in a meaningful way. Deposits and liquidity: As previewed in last quarter’s earnings presentation, the deposit promotion capability we launched in June exceeded expectations. We ended the quarter with $1.9 billion in cash and investments (excluding $721 million of cash held-for-sale associated with the pending Branch Sale transaction) which is 19.8% of assets. This liquidity position allowed us to hold our deposit rates steady following the Fed's September rate hike, which benefits net interest margin as approximately 85% of our loans repriced between the September rate hike and mid-October. We also have ample liquidity to fund the Branch Sale. Our digital deposit platform is designed to give us flexibility and control over our funding by raising deposits in times of strong loan growth and the ability to manage our cost of funds with discipline when we have excess liquidity. Credit: Credit quality was excellent, and our average loan risk rating improved again this quarter. Forbright’s national, sector-focused commercial lending capabilities provide attractive financing solutions for our clients. At the same time, we manage credit risk by using our expertise and rigorous diligence to make critical and objective assessments of the risk in each loan we make. Expenses and Efficiency: Our expense management efforts continue to pay off, and we are on track to meet or exceed our 2027 expense and efficiency objectives. Our efficiency ratio improved to 69.65% this quarter compared to the prior quarter. That number includes $7.2 million of Solar Servicing reimbursable expenses reflected as non-interest expense and non-interest income on our income statement. As we look to 2027, we expect operating expenses — excluding reimbursable expenses in our Solar Services business — will largely remain flat despite the projection for strong loan growth. This is due to the benefits of our fully built platform, a strong company-wide expense management culture, and efficiencies from AI adoption across the business. 3
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Branch Sale to Trustar Bank: As noted, during the quarter, the Bank entered into an agreement to execute the Branch Sale to Trustar Bank. 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. AI AND THE FUTURE OF DEPOSITS As previewed last quarter, we believe AI will accelerate the shift of deposits from branches to digital platforms. A good example of this is the recent launch of a personal AI assistant from a global social media company that quickly became one of the fastest-growing AI apps ever launched. It is an early indicator of a world where AI agents will allow consumers to shop for good savings rates; move money to attractive yield; and strip away the inertia that has long kept cheap and sticky consumer deposits in brick and mortar branches. For banks, we believe an advantage will shift to institutions with attractive rates, the lowest-friction onboarding technology and an agent-ready platform. Forbright, Inc. Chairman and CEO, John Delaney recently co-wrote in the Wall Street Journal: this is "unambiguously good [for consumers]" but it also raises the bar for banks, and it is the shift Forbright is intently focused on. Our Digital Banking team plans to roll out new AI capabilities in 2027 that are designed to allow Forbright customers to experience the benefits of AI without compromising financial security. For example, we plan to introduce a virtual card that customers can assign to their AI agents. This new feature is designed to help our customers keep their bank accounts private while securely making purchases through their AI agents. Our upcoming Virtual Card for AI agents is expected to allow users to set strict dollar limits and receive real-time updates, so people can have their AI agent order food delivery or make retail purchases without having to offer their banking history or debit cards. We also plan to give our customers the ability to provide their AI agents with permissioned, logged, and read-only access to Forbright data. We view Forbright as well positioned for the AI-related changes coming to banking, and we intend to make sure it stays that way. COMPARISONS Quarter-over-Quarter Net Interest Income / Net Interest Margin Net interest income was $72.0 million for the three months ended September 30, 2026, compared to $63.1 million for the three months ended June 30, 2026, an increase of $8.8 million. The change reflects an increase in interest income of $18.3 million compared to an increase in interest expense of $9.5 million. Total interest income increased $18.3 million to $147.3 million for the three months ended September 30, 2026, from $129.1 million for the three months ended June 30, 2026. The increase was primarily due to growth in average loans which increased 9.5% compared to the prior quarter. The remaining increase was largely due to a 14 basis point increase in loan yields and the benefit of one additional day in the quarter. The increase in loan yields was largely due to a recovery of prior non-accrual interest. Total interest expense increased $9.5 million to $75.4 million for the three months ended September 30, 2026, from $65.9 million for the three months ended June 30, 2026. The increase in interest expense was primarily due to an increase in Digital Banking deposits, an additional day in the quarter, and a one basis point increase in the cost of interest-bearing liabilities. Net interest margin was 3.18% for the three months ended September 30, 2026, compared to 3.19% for the three months ended June 30, 2026, primarily due to an unfavorable change in asset mix associated with the build-up of excess liquidity in anticipation of the Branch Sale, and a three basis point increase in total cost of funds, which was offset by a 14 basis point increase in the yield on loans. Provision for Credit Losses The Company recorded a provision for credit losses of $1.5 million for the three months ended September 30, 2026 compared to a provision of $5.9 million for the three months ended June 30, 2026. The provision for credit losses for the quarter was driven by an increase in the allowance for credit losses on loans ("ACL – Loans") of 4
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$1.2 million, net charge-offs of $1.2 million, and a decrease in the allowance for credit losses on unfunded commitments ("ACL – Unfunded") of $1.0 million. The provision for credit losses in the prior quarter was driven by an increase in the ACL – Loans of $1.8 million, net charge-offs of $2.7 million, and an increase in the ACL – Unfunded of $1.4 million. Net charge-offs for the quarterly periods that relate to legacy Consumer and Commercial and Industrial forward flow loans were $0.8 million and $1.7 million, respectively for the three months ended September 30, 2026 and June 30, 2026. Non-interest Income Total non-interest income was $29.1 million for the three months ended September 30, 2026, compared to $21.8 million for the three months ended June 30, 2026. The increase of $7.3 million was primarily due to realized and unrealized gains on loans, an increase in FHA/HUD originations, solar loan administration fees related to the solar servicing business, and one additional month of rental income from other tenants in our headquarters building, following our acquisition in April 2026. Core non-interest income(2) was $17.1 million for the three months ended September 30, 2026, compared to $15.7 million for the three months ended June 30, 2026. The increase of $1.4 million was primarily due to the items noted for total non-interest income related to FHA/HUD fees and solar servicing income. Non-interest Expense Total non-interest expense was $70.4 million for the three months ended September 30, 2026 compared to $65.8 million for the three months ended June 30, 2026. The increase of $4.6 million was primarily due to the combination of (i) an increase in incentive bonus compensation, (ii) legal and sub-servicer fees related to the Solar Servicing business, which are largely reimbursed by counterparties to the loans and recognized in other non-interest income and other corporate legal fees, and (iii) one additional month of expenses related to the ownership of the Company’s headquarters following the building acquisition in April 2026. Those increases were partially offset by a decrease in advertising expense related to Digital Banking deposit promotions. Income Taxes Income tax expense was $8.5 million for the three months ended September 30, 2026, resulting in an effective tax rate of 29.0%, compared to income tax expense of $9.2 million and an effective tax rate of 69.0% for the three months ended June 30, 2026. Income tax expense for the three months ended September 30, 2026, reflects the recognition of $2.7 million of deferred credit amortization that was offset by a purchase accounting adjustment of $2.7 million for previously recognized amortization, resulting in no net impact from the deferred credit in the quarter. The purchase accounting adjustment was related to the completion of the final tax return for the acquired entity. Income tax expense for the three months ended June 30, 2026, included (i) a $5.6 million write-down of deferred tax assets as of December 31, 2025, for stock compensation in connection with the initial public offering, which is due to tax rules that limit executive compensation deductions for public companies, and (ii) a $1.1 million benefit for amortization of the deferred credit. For the three months ended June 30, 2026, the effective tax rate was increased by 42.3% related to the one-time deferred tax asset adjustment for stock compensation, offset by a reduction of 8.6% related to amortization of the deferred credit. The deferred credit balance as of September 30, 2026, was $36.0 million, compared to $49.1 million as of June 30, 2026. The decrease of $13.1 million was due to true-up adjustments resulting from the final tax return for the acquired entity. __________________ (2) Non-GAAP financial measure. See "Non-GAAP Financial Measures" section of this press release for a reconciliation to the most directly comparable GAAP measure. Year-over-Year Net Interest Income / Net Interest Margin Net interest income was $194.7 million for the nine months ended September 30, 2026, compared to $196.0 million for the nine months ended September 30, 2025. The slight decrease of $1.3 million was primarily due to an increase in interest expense of $17.5 million marginally exceeding an increase in interest income of $16.2 million. 5
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Total interest income increased $16.2 million to $400.2 million for the nine months ended September 30, 2026, from $384.0 million for the nine months ended September 30, 2025. The increase was primarily due to increases in average loan balances and interest-earning deposits with banks, largely offset by a 142 basis point decrease in yield earned on loans, as well as lower average balances and yields on investment securities. The 142 basis point decrease in yield earned on loans was primarily driven by a 68 basis point decrease in average SOFR, lower average spreads reflecting changes in market pricing, and a mix shift in the loan portfolio toward lower-yielding categories, and higher relative levels of amortization of deferred fees during the nine months ended September 30, 2025, which included $9.8 million for restructured loans. Total interest expense increased $17.5 million to $205.5 million for the nine months ended September 30, 2026, from $188.0 million for the nine months ended September 30, 2025. The increase in interest expense was primarily due to an increase in average balances in Digital Banking deposits and third-party sweep deposits largely offset by a 35 basis point decrease in the average rate paid on interest-bearing deposits. Net interest margin was 3.16% for the nine months ended September 30, 2026, compared to 3.83% for the nine months ended September 30, 2025, primarily due to a 142 basis point decrease in the yield on loans partially offset by a positive change in asset mix with loan growth exceeding growth in other earning asset categories, and a 39 basis point decrease in total cost of funds. Provision for Credit Losses The Company recorded a provision for credit losses of $10.9 million for the nine months ended September 30, 2026, compared to $17.3 million for the nine months ended September 30, 2025. The provision for credit losses for the nine months ended September 30, 2026, was driven by an increase in the ACL – Loans of $2.8 million and net charge-offs of $8.0 million. The provision for credit losses for the nine months ended September 30, 2025, was driven by an increase in the ACL – Loans of $9.1 million, $7.5 million in net charge-offs, and an increase of $0.6 million in the ACL – Unfunded. Net charge-offs for the year-to-date periods that relate to legacy Consumer and Commercial and Industrial forward flow loans were $5.6 million and $7.4 million, respectively for the nine months ended September 30, 2026 and 2025. Non-interest Income Total non-interest income was $66.5 million for the nine months ended September 30, 2026, compared to $49.4 million for the nine months ended September 30, 2025. The increase of $17.1 million was primarily due to servicing fees and trust administration income related to the solar servicing business. The increase was offset by less gains on loan sales and fair value marks, lower investment advisory fees, and a decrease in income related to lower volume of FHA/HUD originations. Core non-interest income(2) was $47.9 million for the nine months ended September 30, 2026, compared to $29.1 million for the nine months ended September 30, 2025. The increase of $18.8 million was primarily due to the items noted for total non-interest income related to solar servicing income, partially offset by lower investment advisory fees and lower FHA/HUD originations. Non-interest Expense Total non-interest expense was $194.6 million for the nine months ended September 30, 2026, compared to $150.4 million for the nine months ended September 30, 2025. The increase of $44.2 million was primarily due to (i) the acquisition of the Solar Servicing business, (ii) the personnel retention compensation program implemented in connection with our initial public offering, (iii) professional fees associated with the initial public offering, and (iv) expenses related to the ownership of the Company’s headquarters following the building acquisition in April 2026. Income Taxes Income tax expense was $19.2 million for the nine months ended September 30, 2026, resulting in an effective tax rate of 34.5%, compared to income tax expense of $19.3 million and an effective tax rate of 24.9% for the nine months ended September 30, 2025. Income tax expense for the nine months ended September 30, 2026, included (i) a $5.6 million write-down of deferred tax assets as of December 31, 2025, for stock compensation in connection with the initial public offering, which is due to tax rules that limit executive compensation deductions for companies with publicly traded securities, and (ii) a $5.5 million benefit for amortization of the deferred credit, partially offset by the effect of the $2.7 million purchase accounting adjustment recorded in the third quarter. For the nine months ended September 30, 2026, the effective tax rate was (i) increased by 10.1% for the one-time deferred tax asset adjustment for stock compensation in the second quarter, (ii) increased by 4.8% for the 6
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purchase accounting adjustment in the third quarter, and (iii) reduced by 9.9% for amortization of the deferred credit. __________________ (2) Non-GAAP financial measure. See "Non-GAAP Financial Measures" section of this press release for a reconciliation to the most directly comparable GAAP measure. ASSET QUALITY The Company's ACL – Loans held for investment at amortized cost was $55.8 million, or 0.91% of total loans held for investment at amortized cost, as of September 30, 2026, compared to $54.6 million, or 0.98%, as of June 30, 2026. The increase in the allowance for September 30, 2026 compared to June 30, 2026, was primarily due to loan growth during the quarter while the reduction in the ratio of ACL – Loans to total loans held for investment at amortized cost was primarily driven by a mix shift within the portfolio toward portfolios with lower ACL – Loans to loans held for investment at amortized cost ratios. Net charge-offs were $1.2 million, or 0.08% of average loans held for investment at amortized cost, for the three months ended September 30, 2026, compared to $2.7 million, or 0.20%, for the three months ended June 30, 2026. Of the net charge-offs for the three months ended September 30, 2026 and June 30, 2026, $0.8 million and $1.7 million were related to legacy Consumer and Commercial and Industrial forward flow loans. Net charge-offs were $8.0 million, or 0.19% of average loans held for investment at amortized cost, for the nine months ended September 30, 2026, compared to $7.5 million, or 0.23%, for the nine months ended September 30, 2025. Of the net charge-offs for the nine months ended September 30, 2026 and September 30, 2025, $5.6 million and $7.4 million were related to legacy Consumer and Commercial and Industrial forward flow loans. Non-performing assets were $74.9 million as of September 30, 2026, compared to $93.7 million as of June 30, 2026. Non-performing assets as a percentage of total assets were 0.78% as of September 30, 2026, compared to 1.10% as of June 30, 2026. Both in total, and as a percentage of total assets, non-performing assets declined from June 30, 2026 to September 30, 2026. The decrease was primarily due to the pay-off or return to accrual status of Commercial Real Estate loans in Healthcare Finance and Real Estate Finance, and Commercial and Industrial loans in Corporate Finance. The decrease in total non-accrual loans was partially offset by the transfer of one Commercial Real Estate asset from loans held for investment at amortized cost to other real estate owned assets. Non-performing loans held for investment at amortized cost were $56.2 million as of September 30, 2026, compared to $72.5 million as of June 30, 2026. Non-performing loans as a percentage of total loans held for investment at amortized cost was 0.91% as of September 30, 2026, compared to 1.30% as of June 30, 2026. Non-performing loans held for investment at amortized cost declined from June 30, 2026 to September 30, 2026. The decrease was primarily due to the pay-off or return to accrual status of Commercial Real Estate loans in Healthcare Finance and Real Estate Finance during the quarter. CAPITAL As of September 30, 2026, the Company’s and Bank’s Tier 1 leverage ratio were 9.80% and 10.41%, respectively, compared to 10.38% and 11.24%, respectively, as of June 30, 2026. As of September 30, 2026, the Company’s and Bank’s Common Equity Tier 1 ratio were 12.87% and 13.68%, respectively, compared to 12.97% and 14.08%, respectively, as of June 30, 2026. Total stockholders' equity was $991.7 million as of September 30, 2026, compared to $967.2 million as of June 30, 2026. The increase was primarily driven by the issuance of 1.0 million shares of common stock resulting in proceeds, net of issuance costs, of $17.1 million in connection with the overallotment option associated with the Company's initial public offering and net income for the quarter, partially offset by the impact of unrealized losses on investment securities available-for-sale in other comprehensive loss. As of September 30, 2026, the Company had: • available borrowing capacity of $422.2 million with the Federal Home Loan Bank of Atlanta; • available borrowing capacity of $2.1 billion with the Federal Reserve Bank; 7
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• available borrowing capacity of $110.0 million from Fed Funds facilities with four other financial institutions; and • available-for-sale investment securities with a fair value of $1.0 billion. CONFERENCE CALL AND WEBCAST The Company will host a conference call to discuss its third quarter 2026 financial results on October 29, 2026, at 8:00 a.m. Eastern Time. The live webcast will be available in the Events & Presentations section of the Company’s Investor Relations website at ir.forbrightbank.com. To join by phone, please pre-register here at least 15 minutes before the call begins. A replay and transcript will be available in the Events & Presentations section of the Company’s Investor Relations website at ir.forbrightbank.com approximately two hours after the conclusion of the call. ABOUT FORBRIGHT, INC. Forbright, Inc. (Nasdaq: FRBT) is a financial holding company and the parent of FDIC-insured Forbright Bank, a modern financial services platform spanning nationwide middle-market lending, digital consumer banking, strategic advisory, and asset management services. Headquartered in Chevy Chase, Maryland, the Company operates at the intersection of two powerful, structural forces reshaping the U.S. banking sector: the rapidly evolving needs of the $10 trillion national middle market and the broadly accelerating shift toward digital-first banking. For more information, please visit forbrightbank.com. The information contained in, or that can be accessed through, our website is not incorporated by reference in, and is not part of, this press release. The inclusion of our website address in this press release is only as an inactive textual reference. FORWARD-LOOKING STATEMENTS This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include discussion of plans, estimates, objectives, goals, guidelines, expectations, intentions, projections and statements of our beliefs concerning future events, business plans, objectives, expected operating results and the assumptions upon which those statements are based. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and are typically identified with words such as "see," “may,” “could,” “should,” “will,” “would,” “believe,” “anticipate,” “estimate,” “expect,” “aim,” “intend,” “plan” or words or phrases of similar meaning. We caution that the forward-looking statements are based largely on our expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond our control. Such forward-looking statements are based on various assumptions (some of which may be beyond our control) and are subject to risks and uncertainties, which change over time, and other factors which could cause actual results to differ materially from those currently anticipated. Such risks and uncertainties include, but are not limited to: economic conditions that impact the financial services industry and/or our business; our ability to manage our credit risk effectively and the potential deterioration of the business and economic conditions in our primary market areas; the composition of our loan portfolio; our ability to achieve organic loan and deposit growth and the composition of such growth; our ability to maintain our bank’s reputation; our ability to attract and retain skilled employees and manage changes in our management personnel; risks associated with unauthorized access, cyber-crime and other threats to data security; our ability to effectively compete with other financial services companies and the effects of competition in the financial services industry on our business; our ability to successfully develop and commercialize new or enhanced products and services; changes in the demand for our products and services; the sufficiency of our capital, including sources of capital and the extent to which we may be required to raise additional capital to meet our goals; the effectiveness of our risk management and internal disclosure controls and procedures; our access to sources of liquidity and capital to address our liquidity needs; the effects of the failure of any component of our business infrastructure provided by a third-party; any failure or interruption of our information and communications systems; the impact of, and changes in applicable laws, regulations and accounting standards and policies; the effects of geopolitical instability, including war, terrorist attacks, and man-made and natural disasters; our ability to keep pace with technological changes; the effects of problems encountered by other financial institutions; the ability to adapt to rapid technological changes, including advancements related to artificial intelligence ("AI"), the use of AI models in credit decisioning, customer service, and operations, including risks of model error, bias, regulatory scrutiny under fair lending laws, and third-party AI dependencies, digital banking platforms, and cybersecurity; advances and changes in technology, including AI, and the Company's ability to develop timely and competitive products and services and effectively manage related risks; risks related to our implementation of new lines of business, new products and services, new technologies, and expansion of our existing business opportunities; risks related to the development and use of AI; and other risks and uncertainties described under “Risk Factors” of our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026, and subsequent filings with the U.S. Securities and Exchange Commission. 8
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All such factors are difficult to predict, contain uncertainties that may materially affect actual results and may be beyond our control. New factors emerge from time to time, and it is not possible for management to predict all such factors or to assess the impact of each such factor on the Company. Any forward-looking statement speaks only as of the date on which such statement is made, and we do not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date on which such statement is made except as required by the federal securities laws. If one or more of these or other risks or uncertainties materialize, or if our underlying assumptions prove to be incorrect, our actual results may vary materially from what we may have expressed or implied by these forward-looking statements. We caution that you should not place undue reliance on any of our forward-looking statements. Furthermore, new risks and uncertainties arise from time to time, and it is impossible for us to predict those events or how they may affect us. INVESTOR & MEDIA CONTACT: Ben Wakana, Chief Public Affairs and Investor Relations Officer | 207-551-7415 | bwakana@forbrightbank.com 9
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FINANCIAL TABLES FORBRIGHT, INC. AND SUBSIDIARIES Consolidated Statements of Income (Unaudited) For the Three Months Ended (dollars in thousands, except per share amounts) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 INTEREST INCOME Loans held for investment $ 110,628 $ 98,522 $ 93,164 $ 101,360 $ 107,825 Loans held-for-sale 10,016 8,484 8,194 9,760 8,452 Deposits with banks 12,991 7,252 7,582 6,419 7,606 Interest on investment securities 13,052 14,158 14,099 14,364 15,098 Interest and dividends on other earning assets 651 648 716 774 788 Total interest income 147,338 129,064 123,755 132,677 139,769 INTEREST EXPENSE Deposits 73,477 64,024 62,295 63,695 64,503 Subordinated debt, net 1,909 1,895 1,902 1,929 1,951 Other borrowings — — — 11 122 Total interest expense 75,386 65,919 64,197 65,635 66,576 Net interest income 71,952 63,145 59,558 67,042 73,193 Provision for credit losses 1,499 5,899 3,473 6,700 4,762 Net interest income after provision for credit losses 70,453 57,246 56,085 60,342 68,431 NON-INTEREST INCOME Servicing income 6,592 6,876 7,087 7,385 805 Investment advisory fees 3,194 3,090 3,193 3,775 3,917 Fee income on loans 2,116 2,252 2,003 2,530 2,006 Gains/(losses) on sales of loans and investment securities, net 1,946 252 (34) (281) 10,690 Unrealized gains/(losses) on loans and financing receivables, net 1,263 (963) (1,335) (615) 4,443 Other non-interest income 13,989 10,339 4,670 8,554 2,275 Total non-interest income 29,100 21,846 15,584 21,348 24,136 NON-INTEREST EXPENSE Compensation and benefits 36,422 33,407 31,642 33,417 33,255 Information technology 7,705 7,581 7,540 7,449 6,573 Professional fees 11,422 9,777 7,823 6,127 3,222 Loan administration and servicing 6,917 5,500 4,125 4,376 1,363 Advertising and marketing 1,688 2,720 2,304 931 774 FDIC insurance 1,033 1,111 902 866 817 Occupancy expense 1,812 1,466 1,122 1,111 1,079 Other non-interest expense 3,381 4,214 2,999 3,930 3,419 Total non-interest expense 70,380 65,776 58,457 58,207 50,502 Income before income taxes 29,173 13,316 13,212 23,483 42,065 Income tax expense/(benefit) 8,465 9,194 1,580 (6,111) 9,969 Net income 20,708 4,122 11,632 29,594 32,096 Net income attributable to noncontrolling interest 85 — — — — Net income attributable to the Company $ 20,623 $ 4,122 $ 11,632 $ 29,594 $ 32,096 10
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FORBRIGHT, INC. AND SUBSIDIARIES Consolidated Statements of Income - Metrics (Unaudited) For the Three Months Ended (dollars in thousands, except per share amounts) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 PER SHARE DATA Basic earnings attributable to the Company per voting and non-voting common share $ 0.42 $ 0.10 $ 0.29 $ 0.73 $ 0.80 Diluted earnings attributable to the Company per voting and non-voting common share $ 0.41 $ 0.09 $ 0.27 $ 0.72 $ 0.78 Weighted-average shares used to compute earnings attributable to the Company per voting common share: Basic 30,048,936 21,175,037 19,063,817 19,032,287 19,029,795 Diluted 31,806,389 23,498,322 21,188,692 20,066,576 20,039,544 Weighted-average shares used to compute earnings attributable to the Company per non-voting common share, basic and diluted 19,100,718 21,014,378 21,242,551 21,242,551 21,242,551 Stockholders’ equity per total common share outstanding $ 19.54 $ 19.46 $ 20.35 $ 20.22 $ 19.43 Tangible book value per total common share outstanding (Non- GAAP)(1) $ 18.84 $ 18.74 $ 19.58 $ 19.44 $ 18.64 CAPITAL RATIOS Company: Tier 1 leverage ratio(2) 9.80 % 10.38 % 8.92 % 9.79 % 8.82 % Common Equity Tier 1 to risk weighted-assets ratio(2) 12.87 % 12.97 % 11.47 % 12.72 % 10.15 % PERFORMANCE RATIOS Return on average total assets(3) 0.89 % 0.20 % 0.59 % 1.52 % 1.72 % Return on average stockholders’ equity(3) 8.20 % 1.89 % 5.62 % 14.52 % 16.46 % Return on average tangible common equity(1), (3) 8.68 % 2.19 % 5.95 % 15.25 % 17.32 % Yield on earning assets(3) 6.51 % 6.52 % 6.44 % 7.03 % 7.71 % Yield on interest-bearing liabilities(3) 3.88 % 3.87 % 3.89 % 4.05 % 4.24 % Spread(4) 2.63 % 2.65 % 2.55 % 2.98 % 3.47 % Net interest margin(5) 3.18 % 3.19 % 3.10 % 3.55 % 4.04 % Efficiency ratio(6) 69.65 % 77.39 % 77.80 % 65.85 % 51.89 % CREDIT QUALITY RATIOS Non-performing assets to total assets 0.78 % 1.10 % 1.14 % 1.06 % 0.55 % Non-performing loans to total loans held for investment at amortized cost 0.91 % 1.30 % 1.38 % 1.30 % 0.60 % ACL - Loans to total loans at amortized cost at period end 0.91 % 0.98 % 0.98 % 1.01 % 1.03 % Net loan charge-offs to average total loans held for investment at amortized cost(3) (0.08) % (0.20) % (0.32) % (0.41) % (0.16) % __________________ (1) Non-GAAP financial measure. See "Non-GAAP Financial Measures" section of this press release for a reconciliation to the most directly comparable GAAP measure. (2) Regulatory capital ratios as of September 30, 2026 are preliminary pending filing of regulatory reports. (3) Annualized. (4) Spread represents the difference between the annualized weighted average yield on interest-earning assets and the annualized weighted average rate paid on interest-bearing liabilities. (5) Net interest margin is computed by dividing annualized net interest income by total average interest-earning assets. (6) Efficiency ratio is calculated by dividing non-interest expense by total revenue, which equals the sum of net interest income and non-interest income. 11
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FORBRIGHT, INC. AND SUBSIDIARIES Consolidated Balance Sheets (Unaudited) (dollars in thousands) September 30, 2026 June 30, 2026 March 31, 2026 December 31, 2025 September 30, 2025 ASSETS Cash, due from banks and restricted cash $ 37,685 $ 26,524 $ 25,280 $ 18,241 $ 20,261 Interest-bearing deposits with banks 811,274 808,192 840,856 630,474 609,955 Cash, cash equivalents and restricted cash 848,959 834,716 866,136 648,715 630,216 Investment securities available-for-sale, at fair value 1,014,605 1,210,665 1,235,599 1,254,887 1,257,175 Investment securities held-to-maturity, at amortized cost(1) 48,489 48,634 48,834 48,834 52,081 Loans held-for-sale 476,036 465,474 407,594 379,662 370,512 Loans held for investment, at fair value 2,855 3,481 4,555 4,645 5,105 Loans held for investment, at amortized cost 6,163,716 5,595,872 5,376,537 5,222,234 4,987,894 Allowance for credit losses - loans (55,833) (54,621) (52,794) (52,986) (51,430) Net loans held for investment, at amortized cost 6,107,883 5,541,251 5,323,743 5,169,248 4,936,464 Other earning assets, net 50,470 50,479 50,690 55,928 56,014 Deferred tax asset, net 138,276 145,269 152,963 153,314 178,205 Accrued interest receivable 49,071 46,445 45,369 55,155 49,037 Premises and equipment, net 41,990 47,877 29,763 30,763 31,952 Goodwill and other intangible assets, net 35,452 35,964 31,402 31,685 32,026 Other assets 83,427 75,249 36,412 56,470 89,790 Assets held-for-sale 726,837 — — — — Total assets $ 9,624,350 $ 8,505,504 $ 8,233,060 $ 7,889,306 $ 7,688,577 LIABILITIES Non-interest-bearing deposits $ 362,080 $ 435,065 $ 473,153 $ 372,444 $ 355,684 Interest-bearing deposits 7,248,590 6,830,770 6,665,055 6,405,471 6,145,833 Total deposits 7,610,670 7,265,835 7,138,208 6,777,915 6,501,517 Subordinated debt, net 151,270 151,181 151,092 151,003 150,914 Other borrowings — — — — 90,000 Total borrowed funds 151,270 151,181 151,092 151,003 240,914 Other liabilities 118,641 121,325 112,565 137,945 156,373 Liabilities held-for-sale 749,135 — — — — Total liabilities 8,629,716 7,538,341 7,401,865 7,066,863 6,898,804 Off-balance sheet commitments Redeemable noncontrolling interest 2,885 — — — — STOCKHOLDERS’ EQUITY Preferred stock — — — — — Common stock: Voting common stock 33 29 20 20 20 Non-voting common stock 18 21 21 21 21 Additional paid-in capital 650,070 628,499 493,074 490,550 488,320 Retained earnings 365,205 344,582 340,460 328,828 299,234 Accumulated other comprehensive (loss)/income (23,577) (5,968) (2,380) 3,024 2,178 Total stockholders’ equity 991,749 967,163 831,195 822,443 789,773 Total liabilities, redeemable noncontrolling interest, and stockholders’ equity $ 9,624,350 $ 8,505,504 $ 8,233,060 $ 7,889,306 $ 7,688,577 __________________ (1) Net of allowance for credit losses - investment securities of $110 as of September 30, 2026, June 30, 2026, March 31, 2026, and December 31, 2025, and $161 as of September 30, 2025. 12
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FORBRIGHT, INC. AND SUBSIDIARIES Consolidated Statements of Income (Unaudited) For the Nine Months Ended (dollars in thousands, except per share amounts) September 30, 2026 September 30, 2025 INTEREST INCOME Loans held for investment $ 302,314 $ 283,584 Loans held-for-sale 26,694 28,274 Deposits with banks 27,825 22,182 Interest on investment securities 41,309 47,359 Interest and dividends on other earning assets 2,015 2,564 Total interest income 400,157 383,963 INTEREST EXPENSE Deposits 199,796 179,708 Subordinated debt, net 5,706 6,893 Other borrowings — 1,388 Total interest expense 205,502 187,989 Net interest income 194,655 195,974 Provision for credit losses 10,871 17,311 Net interest income after provision for credit losses 183,784 178,663 NON-INTEREST INCOME Servicing income 20,555 805 Investment advisory fees 9,477 12,415 Fee income on loans 6,371 5,837 Gains on sales of loans and investment securities, net 2,164 12,860 Unrealized (losses)/gains on loans and financing receivables, net (1,035) 7,189 Other non-interest income 28,998 10,322 Total non-interest income 66,530 49,428 NON-INTEREST EXPENSE Compensation and benefits 101,471 93,695 Information technology 22,826 19,469 Professional fees 29,022 9,764 Loan administration and servicing 16,542 4,119 Advertising and marketing 6,712 5,313 FDIC insurance 3,046 4,166 Occupancy expense 4,400 3,576 Other non-interest expense 10,594 10,315 Total non-interest expense 194,613 150,417 Income before income taxes 55,701 77,674 Income tax expense 19,239 19,342 Net income 36,462 58,332 Net income attributable to noncontrolling interest 85 — Net income attributable to the Company $ 36,377 $ 58,332 13
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FORBRIGHT, INC. AND SUBSIDIARIES Consolidated Statements of Income - Metrics (Unaudited) For the Nine Months Ended (dollars in thousands, except per share amounts) September 30, 2026 September 30, 2025 PER SHARE DATA Basic earnings attributable to the Company per voting common share $ 0.86 $ 1.45 Basic earnings attributable to the Company per non-voting common share $ 0.79 $ 1.45 Diluted earnings attributable to the Company per voting common share $ 0.83 $ 1.41 Diluted earnings attributable to the Company per non-voting common share $ 0.76 $ 1.41 Weighted-average shares used to compute earnings attributable to the Company per voting common share: Basic 23,466,079 19,004,185 Diluted 25,066,853 20,116,479 Weighted-average shares used to compute earnings attributable to the Company per non-voting common share, basic and diluted 20,444,703 21,242,551 PERFORMANCE RATIOS Return on average total assets(1) 0.57 % 1.11 % Return on average stockholders’ equity(1) 5.38 % 10.31 % Return on average tangible common equity(1), (2) 5.76 % 10.91 % Yield on earning assets(1) 6.49 % 7.51 % Yield on interest-bearing liabilities(1) 3.88 % 4.25 % Spread(3) 2.61 % 3.26 % Net interest margin(4) 3.16 % 3.83 % Efficiency ratio(5) 74.51 % 61.29 % __________________ (1) Non-GAAP financial measure. See "Non-GAAP Financial Measures" section of this press release for a reconciliation to the most directly comparable GAAP measure. (2) Annualized. (3) Spread represents the difference between the annualized weighted average yield on interest-earning assets and the annualized weighted average rate paid on interest-bearing liabilities. (4) Net interest margin is computed by dividing annualized net interest income by total average interest-earning assets. (5) Efficiency ratio is calculated by dividing non-interest expense by total revenue, which equals the sum of net interest income and non-interest income. 14
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FORBRIGHT, INC. AND SUBSIDIARIES Average Balance Sheets (Unaudited) For the Three Months Ended September 30, 2026 June 30, 2026 Change Due To: (dollars in thousands) Average Balance Interest Income/ Expense Average Yields Earned/ Rates Paid(1) Average Balance Interest Income/ Expense Average Yields Earned/ Rates Paid(1) Volume and Days Yield/ Rate Total Change Assets: Total loans held for investment $ 5,915,470 $ 110,628 7.42 % $ 5,409,608 $ 98,522 7.30 % $ 10,397 $ 1,709 $ 12,106 Total loans held-for-sale 478,158 10,016 8.31 % 427,940 8,484 7.95 % 1,102 430 1,532 Total loans 6,393,628 120,644 7.49 % 5,837,548 107,006 7.35 % 11,499 2,139 13,638 Total investment securities 1,150,488 13,052 4.50 % 1,263,848 14,158 4.49 % (1,128) 22 (1,106) Interest-bearing deposits with banks(2) 1,380,609 12,991 3.73 % 787,320 7,252 3.69 % 5,603 136 5,739 Other earnings assets 50,570 651 5.11 % 50,661 648 5.13 % 6 (3) 3 Total interest-earning assets 8,975,295 147,338 6.51 % 7,939,377 129,064 6.52 % 15,980 2,294 18,274 Allowance for credit losses (54,165) (53,328) Other assets 322,604 336,948 Total assets $ 9,243,734 $ 8,222,997 Liabilities, redeemable noncontrolling interest, and stockholders’ equity: Interest-bearing demand deposits(2) $ 279,995 $ 2,459 3.48 % $ 283,305 $ 2,442 3.46 % $ (2) $ 19 $ 17 Money market deposits(2) 1,397,681 13,271 3.77 % 1,403,392 13,138 3.75 % 90 43 133 Savings deposits(2) 4,594,382 44,597 3.85 % 3,680,352 34,725 3.78 % 9,100 772 9,872 Time deposits(2) 1,276,449 13,150 4.09 % 1,310,156 13,719 4.20 % (205) (364) (569) Total interest-bearing deposits(2) 7,548,507 73,477 3.86 % 6,677,205 64,024 3.85 % 8,983 470 9,453 Subordinated debt, net 151,211 1,909 5.01 % 151,123 1,895 5.03 % 21 (7) 14 Total interest-bearing liabilities 7,699,718 75,386 3.88 % 6,828,328 65,919 3.87 % 9,004 463 9,467 Non-interest-bearing demand deposits(2) 435,418 408,649 Other liabilities 110,733 113,261 Total liabilities 8,245,869 7,350,238 Redeemable noncontrolling interest 65 — Stockholders’ equity 997,800 872,759 Total liabilities, redeemable noncontrolling interest, and stockholders’ equity $ 9,243,734 $ 8,222,997 Net interest income and spread(3) $ 71,952 2.63 % $ 63,145 2.65 % $ 6,976 $ 1,831 $ 8,807 Net interest margin(4) 3.18 % 3.19 % Total deposits(5) $ 7,983,925 $ 73,477 3.65 % $ 7,085,854 $ 64,024 3.62 % Total funds(6) $ 8,135,136 $ 75,386 3.68 % $ 7,236,977 $ 65,919 3.65 % __________________ (1) Annualized. (2) Includes balances held-for-sale. (3) Spread represents the difference between the annualized weighted average yield on interest-earning assets and the annualized weighted average rate paid on interest-bearing liabilities. (4) Net interest margin is computed by dividing annualized net interest income by total average interest-earning assets. (5) Total deposits is the sum of interest-bearing deposits and non-interest-bearing demand deposits. Cost of total deposits is calculated as annualized interest expense on total deposits divided by average total deposits. (6) Total funds is the sum of total interest-bearing liabilities and non-interest-bearing demand deposits. Cost of total funds is calculated as annualized total interest expense divided by average total funds. 15
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FORBRIGHT, INC. AND SUBSIDIARIES Average Balance Sheets (Unaudited) For the Nine Months Ended September 30, 2026 September 30, 2025 Change Due To: (dollars in thousands) Average Balance Interest Income/ Expense Average Yields Earned/ Rates Paid(1) Average Balance Interest Income/ Expense Average Yields Earned/ Rates Paid(1) Volume Yield/ Rate Total Change Assets: Total loans held for investment $ 5,515,747 $ 302,314 7.33 % $ 4,399,127 $ 283,584 8.62 % $ 71,981 $ (53,251) $ 18,730 Total loans held-for-sale 436,071 26,694 8.18 % 331,859 28,274 11.39 % 8,879 (10,459) (1,580) Total loans 5,951,818 329,008 7.39 % 4,730,986 311,858 8.81 % 80,860 (63,710) 17,150 Total investment securities 1,234,738 41,309 4.47 % 1,382,032 47,359 4.58 % (5,047) (1,003) (6,050) Interest-bearing deposits with banks(2) 1,003,361 27,825 3.71 % 669,160 22,182 4.43 % 11,079 (5,436) 5,643 Other earnings assets 52,066 2,015 5.17 % 57,639 2,564 5.95 % (248) (301) (549) Total interest-earning assets 8,241,983 400,157 6.49 % 6,839,817 383,963 7.51 % 86,644 (70,450) 16,194 Allowance for credit losses (53,399) (45,149) Other assets 312,281 225,901 Total assets $ 8,500,865 $ 7,020,569 Liabilities, redeemable noncontrolling interest, and stockholders’ equity: Interest-bearing demand deposits(2) $ 281,426 $ 7,334 3.48 % $ 296,158 $ 8,306 3.75 % $ (413) $ (559) $ (972) Money market deposits(2) 1,374,655 38,598 3.75 % 862,578 25,019 3.88 % 14,853 (1,274) 13,579 Savings deposits(2) 3,941,829 112,430 3.81 % 2,787,657 87,607 4.20 % 36,272 (11,449) 24,823 Time deposits(2) 1,327,777 41,434 4.17 % 1,765,116 58,776 4.45 % (14,563) (2,779) (17,342) Total interest-bearing deposits(2) 6,925,687 199,796 3.86 % 5,711,509 179,708 4.21 % 36,149 (16,061) 20,088 Subordinated debt, net 151,123 5,706 5.05 % 166,524 6,893 5.53 % (637) (550) (1,187) Other borrowings — — — % 41,342 1,388 4.49 % (1,388) — (1,388) Total interest-bearing liabilities 7,076,810 205,502 3.88 % 5,919,375 187,989 4.25 % 34,124 (16,611) 17,513 Non-interest-bearing demand deposits(2) 405,776 269,594 Other liabilities 114,499 74,919 Total liabilities 7,597,085 6,263,888 Redeemable noncontrolling interest 22 — Stockholders’ equity 903,758 756,681 Total liabilities, redeemable noncontrolling interest, and stockholders’ equity $ 8,500,865 $ 7,020,569 Net interest income and spread(3) $ 194,655 2.61 % $ 195,974 3.26 % $ 52,520 $ (53,839) $ (1,319) Net interest margin(4) 3.16 % 3.83 % Total deposits(5) $ 7,331,463 $ 199,796 3.64 % $ 5,981,103 $ 179,708 4.02 % Total funds(6) $ 7,482,586 $ 205,502 3.67 % $ 6,188,969 $ 187,989 4.06 % __________________ (1) Annualized. (2) Includes balances held-for-sale. (3) Spread represents the difference between the annualized weighted average yield on interest-earning assets and the annualized weighted average rate paid on interest-bearing liabilities. (4) Net interest margin is computed by dividing annualized net interest income by total average interest-earning assets. (5) Total deposits is the sum of interest-bearing deposits and non-interest-bearing demand deposits. Cost of total deposits is calculated as annualized interest expense on total deposits divided by average total deposits. (6) Total funds is the sum of total interest-bearing liabilities and non-interest-bearing demand deposits. Cost of total funds is calculated as annualized total interest expense divided by average total funds. 16
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FORBRIGHT, INC. AND SUBSIDIARIES Loans Held for Investment at Amortized Cost (Unaudited) September 30, 2026 June 30, 2026 December 31, 2025 (dollars in thousands) Amount % of total loans Amount % of total loans Amount % of total loans Commercial Real Estate $ 3,055,047 49.6 % $ 2,849,478 50.9 % $ 2,528,996 48.4 % Commercial and Industrial 2,911,601 47.2 % 2,541,275 45.4 % 2,475,549 47.4 % Consumer 197,068 3.2 % 205,119 3.7 % 217,689 4.2 % Total loans held for investment at amortized cost $ 6,163,716 100.0 % $ 5,595,872 100.0 % $ 5,222,234 100.0 % 17
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FORBRIGHT, INC. AND SUBSIDIARIES Allowance for Credit Losses - Loans Held for Investment at Amortized Cost (Unaudited) As of and For the Three Months Ended As of and For the Nine Months Ended (dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2026 September 30, 2025 Average loans held for investment outstanding, at amortized cost $ 5,912,148 $ 5,405,685 $ 5,511,752 $ 4,392,511 Total loans held for investment outstanding, at amortized cost at end of period $ 6,163,716 $ 5,595,872 $ 6,163,716 $ 4,987,894 ACL - Loans: Beginning of period $ 54,621 $ 52,794 $ 52,986 $ 42,294 Provision for credit losses on loans 879 4,521 9,267 16,569 Provision for credit losses on loan transfers from loans held-for-sale 1,579 — 1,596 97 Loan charge-offs: Commercial Real Estate (472) — (472) — Commercial and Industrial — (1,736) (4,566) (4,252) Consumer (1,444) (1,353) (4,854) (5,409) Total charge-offs (1,916) (3,089) (9,892) (9,661) Loan recoveries: Commercial Real Estate — — — — Commercial and Industrial 339 131 1,012 1,105 Consumer 331 264 864 1,026 Total recoveries 670 395 1,876 2,131 Net charge-offs (1,246) (2,694) (8,016) (7,530) End of period $ 55,833 $ 54,621 $ 55,833 $ 51,430 Ratio of ACL - Loans to total loans at amortized cost at period end 0.91 % 0.98 % 0.91 % 1.03 % Ratio of net charge-offs to average total loans at amortized cost (0.08) % (0.20) % (0.19) % (0.23) % 18
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FORBRIGHT, INC. AND SUBSIDIARIES Non-performing Assets and Non-performing Loans (Unaudited) (dollars in thousands) September 30, 2026 June 30, 2026 December 31, 2025 NON-PERFORMING ASSETS Total non-accrual loans: Commercial Real Estate $ 52,544 $ 67,312 $ 60,360 Commercial and Industrial 12,368 19,498 11,798 Consumer 1,189 1,407 1,857 Total non-accrual loans 66,101 88,217 74,015 Accruing loans 90 days or more past due — — — Non-performing investment securities 839 839 839 Non-performing financing receivables — — — Other real estate owned 7,934 4,642 8,729 Total non-performing assets $ 74,874 $ 93,698 $ 83,583 Total non-accrual loans as a percentage of total loans 1.00 % 1.45 % 1.32 % Total non-performing investment securities as a percentage of total investment securities 0.08 % 0.07 % 0.06 % Total non-performing financing receivables as a percentage of total financing receivables — % — % — % Total non-performing assets as a percentage of total assets 0.78 % 1.10 % 1.06 % NON-PERFORMING LOANS HELD FOR INVESTMENT AT AMORTIZED COST Total non-accrual loans held for investment at amortized cost: Commercial Real Estate $ 52,544 $ 67,312 $ 60,361 Commercial and Industrial 2,473 3,752 5,484 Consumer 1,189 1,407 1,857 Total non-accrual loans 56,206 72,471 67,702 Accruing loans 90 days or more past due — — — Total non-performing loans held for investment at amortized cost $ 56,206 $ 72,471 $ 67,702 Total non-accrual loans held for investment at amortized cost to total loans held for investment at amortized cost 0.91 % 1.30 % 1.30 % Total ACL - Loans to total non-accrual loans held for investment at amortized cost 99.34 % 75.37 % 78.26 % Non-performing loans held for investment at amortized cost to total loans held for investment at amortized cost 0.91 % 1.30 % 1.30 % 19
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FORBRIGHT, INC. AND SUBSIDIARIES Investment Securities (Unaudited) September 30, 2026 June 30, 2026 December 31, 2025 (dollars in thousands) Amount(1) % of total securities Amount(1) % of total securities Amount(1) % of total securities Available-for-sale securities: U.S. Treasury and government agencies $ 515,996 48.6 % $ 695,844 55.3 % $ 958,347 73.4 % Residential agency mortgage-backed 294,559 27.7 % 312,973 24.8 % 139,077 10.7 % Commercial agency mortgage- backed 186,180 17.5 % 182,856 14.5 % 136,070 10.4 % Municipal bonds 7,937 0.7 % 8,635 0.7 % 8,635 0.7 % Other 9,933 0.9 % 10,357 0.8 % 12,758 1.0 % Total investment securities available- for-sale $ 1,014,605 95.4 % $ 1,210,665 96.1 % $ 1,254,887 96.2 % Held-to-maturity securities: Municipal bonds $ 31,000 2.9 % $ 31,000 2.5 % $ 31,200 2.4 % Other 17,599 1.7 % 17,744 1.4 % 17,744 1.4 % Total investment securities held- to-maturity $ 48,599 4.6 % $ 48,744 3.9 % $ 48,944 3.8 % Total investment securities $ 1,063,204 100.0 % $ 1,259,409 100.0 % $ 1,303,831 100.0 % __________________ (1) Available-for-sale investment securities are reported at fair value and held-to-maturity investment securities are reported at amortized cost. 20
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FORBRIGHT, INC. AND SUBSIDIARIES Deposits (Unaudited) September 30, 2026 June 30, 2026 December 31, 2025 (dollars in thousands) Amount % of total Amount % of total Amount % of total Non-interest-bearing deposits $ 362,080 4.8 % $ 435,065 6.0 % $ 372,444 5.5 % Interest-bearing deposits: Demand 108,987 1.4 % 284,748 3.9 % 275,259 4.1 % Money market 1,146,396 15.1 % 1,394,865 19.2 % 1,206,544 17.8 % Savings 4,914,624 64.5 % 3,878,206 53.4 % 3,500,532 51.6 % Time deposits 1,078,583 14.2 % 1,272,951 17.5 % 1,423,136 21.0 % Total interest-bearing deposits 7,248,590 95.2 % 6,830,770 94.0 % 6,405,471 94.5 % Total deposits(1) $ 7,610,670 100.0 % $ 7,265,835 100.0 % $ 6,777,915 100.0 % __________________ (1) Excludes balances held-for-sale. 21
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FORBRIGHT, INC. AND SUBSIDIARIES Capital Ratios (Unaudited) September 30, 2026(1) June 30, 2026 December 31, 2025 Company: Tier 1 leverage ratio 9.80 % 10.38 % 9.79 % Total capital to risk-weighted assets ratio 15.74 % 16.05 % 15.89 % Tier 1 capital to risk-weighted assets ratio 12.87 % 12.97 % 12.72 % Common Equity Tier 1 to risk weighted-assets ratio 12.87 % 12.97 % 12.72 % Bank: Tier 1 leverage ratio 10.41 % 11.24 % 11.11 % Total capital to risk-weighted assets ratio 14.52 % 14.98 % 15.14 % Tier 1 capital to risk-weighted assets ratio 13.68 % 14.08 % 14.37 % Common Equity Tier 1 to risk weighted-assets ratio 13.68 % 14.08 % 14.37 % __________________ (1) Regulatory capital ratios as of September 30, 2026 are preliminary pending filing of regulatory reports. 22
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FORBRIGHT, INC. AND SUBSIDIARIES Non-GAAP Financial Measures (Unaudited) This earnings release contains “non-GAAP financial measures” within the meaning of Item 10(e) of Regulation S-K. Non-GAAP financial measures are financial measures that are not presented in accordance with GAAP. We use these non-GAAP financial measures in the internal evaluation of our performance and management of our business as well as to explain our results of operations to stockholders and the wider investment community. The following non-GAAP financial measures appear in this earnings release: • Tangible common equity - We calculate tangible common equity by deducting goodwill and other intangible assets from stockholders' equity. • Tangible common equity per common share - We calculate tangible common equity per common share by dividing tangible common equity, as defined above, by our total common shares outstanding for the period, excluding the dilutive effect of outstanding stock options, and including the effect of outstanding shares from restricted stock awards. • Return on average tangible common equity - We calculate return on average tangible common equity by dividing adjusted net income for the period by average tangible common equity over the same period. Adjusted net income, used for the calculation of return on average tangible common equity, is calculated by adding back the tax effected amount of intangible asset amortization to net income. • Non-core trust administration - We calculate non-core trust administration by deducting fixed monthly trust administration fees from trust administration, a component of other non-interest income as reported in the footnotes to the Consolidated Financial Statements. Non-core trust administration represents the reimbursements we receive for various expenses incurred in administration of the trusts. • Non-core gains/(losses) on sales of loans and investment securities, net - We calculate non-core gains/(losses) on sales of loans and investment securities, net by deducting gains from sales of loans to Alliance Partners from gains/ (losses) on sales of loans and investment securities, net, as reported on the Consolidated Statements of Income. • Core and non-core non-interest income - Core non-interest income equals total non-interest income less (a) non-core trust administration, (b) non-core gains/(losses) on sales of loan and investment securities, net, (c) unrealized gains on loans and financing receivables, net, (d) rental income and (e) other income. Non-core non-interest income equals total non-interest income less core non-interest income. • Adjusted total revenue - We calculate adjusted total revenue by deducting non-core non-interest income from total revenue. • Pre provision net revenue - We calculate pre provision net revenue by adding provision for credit losses to income before income taxes. Our management believes that these non-GAAP financial measures and the information they provide are useful to investors because these measures allow investors to view our performance in the same manner our management evaluates performance. Although we believe these non-GAAP financial measures are useful in evaluating our performance, these non-GAAP financial measures should not be considered in isolation or as a substitution for the most directly comparable or other financial measures presented in this earnings release under GAAP. Additionally, the manner in which we calculate these non-GAAP financial measures may be different from how other companies calculate financial measures with similar names. 23
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FORBRIGHT, INC. AND SUBSIDIARIES Non-GAAP Financial Measures - (continued) (Unaudited) Tangible common equity Stockholders’ equity (GAAP) $ 991,749 $ 967,163 $ 991,749 $ 789,773 Less: Goodwill 18,519 18,519 18,519 18,519 Other intangible assets 16,933 17,445 16,933 13,507 Tangible common equity (non-GAAP) $ 956,297 $ 931,199 $ 956,297 $ 757,747 Total common shares outstanding 50,764,380 49,697,208 50,764,380 40,653,612 Stockholders’ equity per total common share outstanding (GAAP) $ 19.54 $ 19.46 $ 19.54 $ 19.43 Tangible common equity per total common share outstanding (non- GAAP) $ 18.84 $ 18.74 $ 18.84 $ 18.64 Return on average tangible common equity Average stockholders' equity (GAAP) $ 997,800 $ 872,759 $ 903,758 $ 756,681 Less: Average goodwill 18,519 18,519 18,519 18,519 Average other intangible assets 15,713 12,839 13,883 14,068 Average tangible common equity (non-GAAP) $ 963,568 $ 841,401 $ 871,356 $ 724,094 Net income attributable to the Company (GAAP) $ 20,623 $ 4,122 $ 36,377 $ 58,332 Add: Intangible asset amortization, net of tax 448 476 1,134 757 Adjusted net income attributable to the Company (non-GAAP) $ 21,071 $ 4,598 $ 37,511 $ 59,089 Return on average stockholders’ equity (GAAP) 8.20 % 1.89 % 5.38 % 10.31 % Return on average tangible common equity (non-GAAP) 8.68 % 2.19 % 5.76 % 10.91 % Non-core trust administration (non-GAAP) Trust administration (GAAP) $ 8,544 $ 7,324 $ 20,132 $ 697 Less: Fixed monthly trust administration fees 1,345 1,327 4,092 (1,237) Non-core trust administration (non-GAAP) $ 7,199 $ 5,997 $ 16,040 $ 1,934 Non-core gains/(losses) on sales of loans and investment securities, net (non-GAAP) Gains on sales of loans and investment securities, net (GAAP) $ 1,946 $ 252 $ 2,164 $ 12,860 Less: Gains on sales of loans by Alliance Partners 358 252 863 1,520 Non-core gains/(losses) on sales of loans and investment securities, net (non-GAAP) $ 1,588 $ — $ 1,301 $ 11,340 As of and For the Three Months Ended As of and For the Nine Months Ended (dollars in thousands, except per share data) September 30, 2026 June 30, 2026 September 30, 2026 September 30, 2025 24
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FORBRIGHT, INC. AND SUBSIDIARIES Non-GAAP Financial Measures - (continued) (Unaudited) As of and For the Three Months Ended As of and For the Nine Months Ended (dollars in thousands, except per share data) September 30, 2026 June 30, 2026 September 30, 2026 September 30, 2025 Core and non-core non-interest income Non-interest income (GAAP) $ 29,100 $ 21,846 $ 66,530 $ 49,428 Less: Non-core trust administration (non-GAAP) 7,199 5,997 16,040 1,934 Non-core gains/(losses) on sales of loans and investment securities, net (non-GAAP) 1,588 — 1,301 11,340 Unrealized gains/(losses) on loans and financing receivables, net 1,263 (963) (1,035) 7,189 Rental income 2,050 1,225 3,275 — Other (included in other non-interest income) (105) (137) (998) (138) Core non-interest income (non-GAAP) $ 17,105 $ 15,724 $ 47,947 $ 29,103 Non-core non-interest income (non-GAAP) $ 11,995 $ 6,122 $ 18,583 $ 20,325 Adjusted total revenue Net interest income $ 71,952 $ 63,145 $ 194,655 $ 195,974 Non-interest income 29,100 21,846 66,530 49,428 Total revenue (GAAP) $ 101,052 $ 84,991 $ 261,185 $ 245,402 Less: Non-core non-interest income (non-GAAP) 11,995 6,122 18,583 20,325 Adjusted total revenue (non-GAAP) $ 89,057 $ 78,869 $ 242,602 $ 225,077 Non-interest income to total revenue (GAAP) 28.8 % 25.7 % 25.5 % 20.1 % Core non-interest income to adjusted total revenue (non-GAAP) 19.2 % 19.9 % 19.8 % 12.9 % Pre provision net revenue Income before income taxes (GAAP) $ 29,173 $ 13,316 $ 55,701 $ 77,674 Add: Provision for credit losses 1,499 5,899 10,871 17,311 Pre provision net revenue (non-GAAP) $ 30,672 $ 19,215 $ 66,572 $ 94,985 # # # 25