Forbright Q2 net income falls to $4.1 million as revenue rises
Forbright reported second-quarter 2026 net income of $4.1 million, or $0.09 per diluted share, down from $11.6 million, or $0.27 per diluted share, in the first quarter. Net interest income and non-interest income both rose, but the company said results include a $5.6 million one-time write-down of deferred tax assets tied to stock compensation after its IPO.
Key points
- Net income was $4.1 million ($0.10 basic, $0.09 diluted EPS) for the quarter ended June 30, 2026, versus $11.6 million ($0.29 basic, $0.27 diluted) for the prior quarter.
- Net interest income rose to $63.1 million from $59.6 million, and non-interest income rose to $21.8 million from $15.6 million.
- Income tax expense was $9.2 million, an effective tax rate of 69.0%, including the $5.6 million deferred tax asset write-down.
- Total non-interest expense was $65.8 million, up from $58.5 million, and the provision for credit losses was $5.9 million.
The filing
Written by AI on Nov 9, 2026, 11:44 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 30, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.