John Delaney's Forbright discloses higher revenue in US IPO filing

May 15 (Reuters) - American ‌bank Forbright ​reported ​higher annual revenue in a U.S. IPO filing on Friday, as it ‌readies itself to tap renewed investor ⁠appetite for new listings.

The IPO rebound has lifted risk ‌sentiment, but volatile markets ‌and geopolitical uncertainty continue to keep investors on edge, prompting companies to accelerate listings ​while the window remains open.

Central Bancompany, Commercial Bancgroup and Northpointe Bancshares were among ⁠U.S. banks that tapped public markets last year.

Forbright reported a ​net income of $87.9 million on total revenue of $333.8 million in 2025, compared with ​a $43.4 million profit on ‌revenue of $252.7 million in 2024.

The Chevy Chase, Maryland-based bank was founded by ⁠former U.S. Representative John Delaney. Its operations span across middle-market lending, digital consumer banking, strategic advisory ⁠and asset management services.

The company began its journey in ​2003 as Congressional Bank, then a community bank serving the Washington, D.C. area. In 2022, it rebranded ‌itself to Forbright.

Forbright will list on the Nasdaq Global Select Market ‌under the symbol "FRBT".

Goldman Sachs, J.P. Morgan and ⁠Barclays are among the ‌underwriters for the ​offering.

(Reporting by Prakhar Srivastava in Bengaluru; Editing by Shinjini Ganguli and Diti ‌Pujara)

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