Forbright Bank


Overview / Commentary
301-299-8810
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 217th largest bank in the nation. It was established in 2003 and as of September of 2023, it had grown to 446 employees at 6 locations. Forbright Bank's savings rates are 8X the national average, and it has a C+ 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.

View all posts from:


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.

Posted by: |

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

Posted by: |

CDs 12 month Rate - 3.924% 2023.03.22



Health
C+

Health Grade Components

Overall
FDIC Certificate #57614
Year Established2003
Employees446
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.26%
Return on Equity - YTD11.67%
Annual Interest Income$404.4MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$6.79B$6.37B
LoansQ3 2023vs Q3 2022$4.57B$5B
DepositsQ3 2023vs Q3 2022$5.47B$5.57B
Equity CapitalQ3 2023vs Q3 2022$733.6MM$670.1MM
Loan Loss AllowanceQ3 2023vs Q3 2022$78.8MM$41.3MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$113.8MM$15.4MM
Real Estate OwnedQ3 2023vs Q3 2022$0$279K
Rates
Report an Issue

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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.25%--IOLTA
4.25%*$250k*-Bright Checking
OTHER TIERS: 3.50% $2.5k - $250k
0.10%$1.5k-Commercial NOW
0.10%--MAHT

Forbright Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.30%$1k-9 Month Online CD
5.30%$1k-Business 9 Month CD
5.10%$1k-Business 12 Month CD
5.10%$1k-12 Month Online 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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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
Locations


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

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.