Forbright Bank
Formerly | Congressional Bank (2003–2021) |
|---|---|
| Private | |
| ISIN | 🆔 |
| Industry | Financial services |
| Founded 📆 | 2003 |
| Founder 👔 | |
| Headquarters 🏙️ | Chevy Chase, Maryland |
Area served 🗺️ | |
Key people | John Delaney (Chairman) Don Cole (CEO) Chris Lynch (CFO) |
| Services | Personal banking, business banking, lending |
| Members | |
Number of employees | 500+ |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Forbright Bank (formerly Congressional Bank) is an FDIC-insured American bank headquartered in Chevy Chase, Maryland.[1] The bank reports holding over $7 billion in assets.[2] The bank’s strategy combines digital retail products with specialty lending and a commitment to the environment.[3][4]
History
2003–2015: Origins
Forbright began operations in 2003 as Congressional Bank, a Maryland-chartered trust company.[1]
2016–2021: Acquisitions and financing initiatives
As Congressional Bank, Forbright acquired 2016 acquisition of American Bank Holdings[5] In 2018, Congressional Bank acquired the operating business and a substantial portion of the assets of Alliance Partners LLC, 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 2021–2022 the bank announced sustainability-linked financing and related corporate positioning including the issuance of a Green Bond.[7]
Rebrand and product launches
The bank rebranded from Congressional Bank to Forbright Bank in 2022.[8][9] As part of that rebranding, the bank announced a partnership with the National Park Foundation to support environmental conservation and 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 product lineup including online savings and certificate of deposit offerings and attracted coverage for its environmentally framed deposit products.[11][12] In 2025, Forbright acquired the assets of now-bankrupt residential solar provider, Mosaic Inc.[13]
Leadership and personnel
In 2022 the bank added multiple senior hires to oversee finance and communications including:
- John Delaney, Founder and Executive Chairman
- Don Cole, Chief Executive Officer
- Chris Lynch, Chief Financial Officer
- Kenny Elias, Chief Lending Officer
- Lisa Cuba, Chief Risk Officer
- Aaron Juda, Chief Strategy Officer
- Leanne Ladd, Chief Administrative Officer
- Kori Ogrosky, General Counsel
- Ben Wakana, Chief Public Affairs Officer[14]
Regulatory and supervisory actions
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).[15][16] Coverage later reported that the bank resolved the supervisory order and that regulators terminated the consent order in mid-2025.[17]
Law360 reported an FDIC downgrade of the bank in the context of its Community Reinvestment Act (CRA) examination and compliance interactions.[18]
Reception
Regional business press and national outlets have profiled the bank and its founder John Delaney, generally focusing on the bank’s environmentally friendly posture, political profile of its founder, and regulatory interactions.[7][11]
References
- ↑ 1.0 1.1 "Description of Institution – Forbright Bank" (PDF). Federal Deposit Insurance Corporation. Retrieved 15 November 2025.
- ↑ 2.0 2.1 "Funding Circle Partners with Community Banks on Small Business Loans". American Banker. Retrieved 15 November 2025.
- ↑ "7 Environmentally Friendly Banks". The Motley Fool. Retrieved 4 December 2025.
- ↑ "Forbright Launches to Accelerate Financing of the Clean Energy Transition". IT Business Net. Retrieved 15 November 2025.
- ↑ "Congressional Bancshares to merge with American Bank Holdings". The Business Journals. Retrieved 15 November 2025.
- ↑ "Annual Report of Holding Companies-FR Y-6" (PDF). Board of Governors of the Federal Reserve System. Retrieved 4 December 2025.
- ↑ 7.0 7.1 Rendon, Gabriela (7 December 2022). "The former presidential candidate running a green bank". Politico. Retrieved 15 November 2025.
- ↑ "Congressional Bank rebrands as Forbright Bank". Washington Business Journal. 19 January 2022. Retrieved 15 November 2025.
- ↑ "Forbright Bank, Inflation Reduction Act and future finance discussion". Washington Business Journal. 19 October 2022. Retrieved 15 November 2025.
- ↑ "U.S. News & World Report Announces 2025 Money Awards". US News & World Report. Retrieved 4 December 2025.
- ↑ 11.0 11.1 "Forbright Bank pushes sustainability angle with new digital products". Axios. 2 March 2023. Retrieved 15 November 2025.
- ↑ "Bloomberg Línea: SVB fallout & climate tech". Bloomberg Línea (in español). 14 March 2023. Retrieved 15 November 2025.
- ↑ "Bankrupt Residential Solar Provider Mosaic Is Acquired". PV Magazine. 25 September 2025. Retrieved 15 November 2025.
- ↑ "Forbright adds three executives to oversee finance and communications". ABFJournal. 2024. Retrieved 15 November 2025.
- ↑ "Forbright Bank: FDIC consent order coverage". Washington Business Journal. 3 July 2024. Retrieved 15 November 2025.
- ↑ Roth, Emma (2 July 2024). "Climate-friendly bank gets dinged by FDIC over its funding model". American Banker. Retrieved 15 November 2025.
- ↑ Roth, Emma (2 June 2025). "Fast-growing bank resolves order over reliability of funding". American Banker. Retrieved 15 November 2025.
- ↑ Smith, Jordan (2024). "FDIC Downgrades Green-Focused Bank On CRA Exam". Law360. Retrieved 15 November 2025.
External links
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