Forbright Bank

Overview / Commentary
4445 Willard Ave, Suite 1000
Chevy Chase, MD 20815

Forbright Bank is headquartered in POTOMAC and is the 3rd largest bank in the state of Maryland. It is also the 219th largest bank in the nation. It was established in 2003 and as of December of 2023, it had grown to 469 employees at 6 locations. Forbright Bank's savings rates are 10X the national average, and it has a B+ health rating.

Related Posts

9 Month 5.75% CD Still Availible, But Can't Open Saving Or Checking Unless At Branch - 12/15/2023

Easy to open account, seems a soft pull and ChexSystems according to my notifications. Can be coded joint and/or have a beneficiary in the application, BUT you have to contact them at maturity to ACH your proceeds to the original bank you funded the account with, or any savings or checking account # and routing #. None of this was on their website, so I opened a $1000 9 month CD and started asking questions. I wanted them to set it to liquidate at maturity and send me funds since I couldn't open a savings account for it to transfer into. Nope: "Thank you for contacting Forbright Bank. You will receive a maturity notice 10-14 days before your CD matures. Once it matures you have ten calendar days to contact us and let us know how you would like to proceed. At that time, you may notify us by online banking message or by phone. If you do not contact us, it will rollover for the same term at the current CD rate at the time of maturity." I'll not be buying more CD's from this bank for an ad

Forbright Bank Offers New Rate-Leading 9-Month Online CD - 10/19/2023

Forbright Bank has added a rate-leading 9-month Online CD to its nationally available CD product line. Minimum opening deposit is $1k, with no stated balance cap.

Forbright Bank Boosts 12-Month Online CD Rate - 9/7/2023

Forbright Bank has recently raised the APY on its nationally available 12-month Online CD to a near rate-leading level. $1k minimum deposit, with no stated balance cap.

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Reviews (6)

Forbright Is Very Bright, Doing It Right

Posted by: |

I opened a cd online in just a few minutes. Easiest ever. I had a little trouble enrolling the account in online banking and called CS. There was a 12 second wait. WOW! The young lady pushed my info through on the spot. All good.

New Account Opening Was A Breeze

Just signed up for their 12 month CD. Took about 5 minutes to open and fund. I did remove my credit report freeze prior to applying as I know some banks do a soft pull and if you have it frozen, they will deny you. Can't speak to any other aspects, but so far so good.

5.25 % Only Applies To 12 Month CD

Posted by: |

I called the bank this morning and was told their 5.25 percent certificate is only available for 12 month CDs. DepositAccts shows a 12-17 month option for that rate, but not according to the bank. Please keep that in mind.

Got Turned Down To Open An Acct Without Giving A Reason.

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Saw the high rate and that they invest in green business. So what the heck, thought I open a account to support. They get all my information and after hiting the button to submit, within seconds I get a popup that they cannot open the account. It goes on to say an e=mail will be sent to me. The e-mail does not give a reason. Sound like their just connecting info on people. Stay away!!!

Forbright Do Not Allow Saving Account Open On Line

forbright has A health review and good interest for short term cd, but they require me to open saving account physically in the branch, not allow us to open on line. they claim it is cooperate decision to avoid fraud. however, this decision made me unsafe bank with forbright bank, since I live far outside maryland. at cd mature, they said it will return the money thru ach , with routing number and act number. when I open the cd, I have called the phone number listed above, the lady told me I am allowed to open saving account. after I opened the account, they forward me to on line service, I was told no. I can not open saving account on line. now I am stuck for a year, hope I can get money back at maturity. I do not like to write reviews. I am raising alert like me to be aware.

Cds 12 Month Rate - 3.924% 2023.03.22

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CDs 12 month Rate - 3.924% 2023.03.22


Health Grade Components

FDIC Certificate #57614
Year Established2003
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.15%
Return on Equity - YTD10.6%
Annual Interest Income$539.2MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$6.82B$6.51B
LoansQ4 2023vs Q4 2022$4.41B$5.02B
DepositsQ4 2023vs Q4 2022$5.91B$5.69B
Equity CapitalQ4 2023vs Q4 2022$752MM$703.3MM
Loan Loss AllowanceQ4 2023vs Q4 2022$74.7MM$44.5MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$126.3MM$55.2MM
Real Estate OwnedQ4 2023vs Q4 2022$0$279K
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Always verify rates and promotions with the bank or credit union. We are not Forbright Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Forbright Bank Savings Account Rates

5.30%--Growth Savings
4.25%*$250k*-Commercial Tiered Rate Savings
OTHER TIERS: 3.50% Up to $250k
4.25%*$250k*-Bright Savings
OTHER TIERS: 3.50% Up to $250k
4.25%*-$10kSprout Savings
OTHER TIERS: 0.80% $10k+
3.00%--Commercial Statement Savings
0.30%$1k-IRA Savings

Forbright Bank Money Market Rates

4.25%$2.5k-Platinum Money Market
4.25%--Commercial Platinum Money Market
3.50%$2.5k-Commercial Money Market

Forbright Bank Checking Account Rates

4.25%*$250k*-Bright Checking
OTHER TIERS: 3.50% $2.5k - $250k
0.10%$1.5k-Commercial NOW

Forbright Bank CD Rates

5.30%$1k-9 Month Online CD
5.30%$1k-Business 9 Month CD
5.25%$1k-12 Month Online CD
5.10%$1k-Business 12 Month CD
4.40%$1k-Business 6-8 Month CD
4.00%$1k-Business 3-5 Month CD
4.00%$1k-Business 10-11 Month CD
3.00%$1k-Business 18-23 Month CD
3.00%$1k-Business 24-29 Month CD
3.00%$1k-Business 30-35 Month CD
3.00%$1k-Business 36-47 Month CD
3.00%$1k-Business 48-59 Month CD
3.00%$1k-Business 60 Month CD
3.00%$1k-Business 13-17 Month CD
3.00%$1k-24 Month Online CD
3.00%$1k-36 Month Online CD
3.00%$1k-60 Month Online CD

Forbright Bank IRA Rates

3.85%$1k-24-29 Month IRA
3.85%$1k-30-35 Month IRA
3.75%$1k-12-17 Month IRA
3.75%$1k-18-23 Month IRA
3.55%$1k-60 Month IRA
3.45%$1k-36-47 Month IRA
3.45%$1k-48-59 Month IRA

Forbright Bank Locations
Herndon Branch150 Elden Street Suite 170Herndon, VA 20170
Congressional Bank7963 Tuckerman LnPotomac, MD 20854
Montgomery Lane Branch4801-A Montgomery LaneBethesda, MD 20814
American Bank Branch1700 Rockville PikeRockville, MD 20852

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