Forbright Bank Targets $994 Million Valuation in Upcoming IPO

Former U.S. Representative John Delaney is taking his Chevy Chase-based Forbright Bank public, aiming for a valuation of nearly $1 billion. The lender plans to raise up to $158 million through a New York offering, marking a significant move for a regional institution in a recovering IPO market.

The bank is offering 7.9 million shares priced between $18 and $20 apiece. This push into the public markets comes as the U.S. banking sector shows renewed appetite for listings following the 2023 regional banking crisis. As valuations strengthen, more boardrooms are moving to test investor confidence after a lengthy period of stagnation.

Forbright will list on the Nasdaq under the ticker symbol FRBT. Goldman Sachs, J.P. Morgan, and Barclays are serving as underwriters for the offering, signaling institutional support for the bank’s expansion strategy.