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Forbright Bank
FormerlyCongressional Bank (2003–2021)
Company typePrivate
IndustryFinancial services
Founded2003
HeadquartersChevy Chase, Maryland
Key people
John Delaney (Chairman)
Don Cole (CEO)
Chris Lynch (CFO)
ServicesPersonal banking, business banking, lending
Number of employees
500+
Websitewww.forbrightbank.com

Forbright Bank (formerly Congressional Bank) is an FDIC-insured American bank headquartered in Chevy Chase, Maryland.[1] The bank holds over $7 billion in assets.[2] The bank’s offers digital retail products and specialty direct lending.[3][4]

History

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Forbright began operations in 2003 as Congressional Bank, a Maryland-chartered trust company.[1]

As Congressional Bank, Forbright acquired American Bank Holdings in 2016.[5] In 2018, Congressional Bank acquired the operating business and a substantial portion of the assets of Alliance Partners LLC, now a wholly owned subsidiary of Forbright Bank that serves as the asset manager for BancAlliance.[2]

In 2021, Congressional Bank acquired The Energy Loan Network, LLC, a residential solar and energy efficiency financing company.[6]

In 2022 the bank announced sustainability-linked financing, including the issuance of a [reen Bond.[7]

Rebrand

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The bank rebranded from Congressional Bank to Forbright Bank in 2022.[8][9] As part of that rebranding, the bank partnered with the National Park Foundation to support environmental conservation. That same year, U.S. News & World Report named the bank’s Growth Savings account as the 2025 Money Awards Editor’s Choice: Saving Money While Doing Good.[10]

In 2023 and 2024 the bank expanded its consumer digital products to include online savings and certificate of deposit offerings and attracted coverage for its environmentally oriented deposit products.[11][12] In 2025, Forbright acquired the assets of now-bankrupt residential solar provider, Mosaic Inc.[13]

Reception

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In mid-2024 Forbright drew scrutiny from regulators over aspects of its funding model. American Banker reported on an FDIC consent order that criticized the bank’s reliance on non-core funding sources, notably brokered deposits.[14][15] Sources later reported that the bank resolved the supervisory order and that regulators terminated the consent order in 2025.[16][17]

Law360 reported an FDIC downgrade of the bank in the context of its Community Reinvestment Act (CRA) examination and compliance interactions.[18] Regional business press and national outlets have profiled the bank and its founder John Delaney, focusing on the bank’s environmental posture, the John Delaney 2020 presidential campaign, and regulatory actions.[7][11]

References

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  1. ^ a b "Description of Institution – Forbright Bank" (PDF). Federal Deposit Insurance Corporation. Retrieved 15 November 2025.
  2. ^ a b "Funding Circle Partners with Community Banks on Small Business Loans". American Banker. Retrieved 15 November 2025.
  3. ^ "7 Environmentally Friendly Banks". The Motley Fool. Retrieved 4 December 2025.
  4. ^ "Forbright Launches to Accelerate Financing of the Clean Energy Transition". IT Business Net. Retrieved 15 November 2025.
  5. ^ "Congressional Bancshares to merge with American Bank Holdings". The Business Journals. Retrieved 15 November 2025.
  6. ^ "Annual Report of Holding Companies-FR Y-6" (PDF). Board of Governors of the Federal Reserve System. Retrieved 4 December 2025.
  7. ^ a b Rendon, Gabriela (7 December 2022). "The former presidential candidate running a green bank". Politico. Retrieved 15 November 2025.
  8. ^ "Congressional Bank rebrands as Forbright Bank". Washington Business Journal. 19 January 2022. Retrieved 15 November 2025.
  9. ^ "Forbright Bank, Inflation Reduction Act and future finance discussion". Washington Business Journal. 19 October 2022. Retrieved 15 November 2025.
  10. ^ "U.S. News & World Report Announces 2025 Money Awards". US News & World Report. Retrieved 4 December 2025.
  11. ^ a b "Forbright Bank pushes sustainability angle with new digital products". Axios. 2 March 2023. Retrieved 15 November 2025.
  12. ^ "Bloomberg Línea: SVB fallout & climate tech". Bloomberg Línea (in Spanish). 14 March 2023. Retrieved 15 November 2025.
  13. ^ "Bankrupt Residential Solar Provider Mosaic Is Acquired". PV Magazine. 25 September 2025. Retrieved 15 November 2025.
  14. ^ "Forbright Bank: FDIC consent order coverage". Washington Business Journal. 3 July 2024. Retrieved 15 November 2025.
  15. ^ Roth, Emma (2 July 2024). "Climate-friendly bank gets dinged by FDIC over its funding model". American Banker. Retrieved 15 November 2025.
  16. ^ Roth, Emma (2 June 2025). "Fast-growing bank resolves order over reliability of funding". American Banker. Retrieved 15 November 2025.
  17. ^ "Forbright adds three executives to oversee finance and communications". ABFJournal. 2024. Retrieved 15 November 2025.
  18. ^ Smith, Jordan (2024). "FDIC Downgrades Green-Focused Bank On CRA Exam". Law360. Retrieved 15 November 2025.
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