What Congressional Bank does

Forbright Bank (formerly Congressional Bank) is a digitally-focused community bank headquartered in Chevy Chase, Maryland, serving the Washington D.C. metro area through four physical locations and customers nationwide through online deposit products. The institution was founded in 2003, rebranded to Forbright Bank in 2026 to reflect a sustainability-focused mission, completed its initial public offering on June 12, 2026, and operates under the Forbright, Inc. holding company structure.

The bank runs a dual-platform model: a 100% digital consumer franchise built around Growth Savings (up to 4.15% APY for new customers) and Growth CD products distributed via web and mobile applications (iOS and Android), alongside traditional branch banking delivering checking, money market, retirement, and credit card products in the D.C. metro area. On the commercial side, the bank operates six specialty lending verticals — asset finance, corporate finance, healthcare finance, lender finance, fund finance, and real estate finance — targeting middle-market companies with B+ to investment grade credit profiles. Business banking is augmented by treasury management services (ACH origination, wire transfers, remote deposit capture) and business credit cards issued through Elan Financial Services, with digital invoicing powered by an Autobooks integration.

Revenue is generated primarily through net interest income on the lending portfolio and deposit base, supplemented by credit card interchange and servicing fees, treasury management service fees, and equipment financing income. The bank is FDIC-insured, holds NMLS license #652644, and is carbon-neutral in operations, with partnerships to the National Park Foundation, The Nature Conservancy, and the American Red Cross supporting its impact-focused brand positioning.

Name

Congressional Bank

Legal name

Forbright Bank

Website

https://congressionalbank.com

Company type

Public

Founded year

2003

Operating status

Operating

Headcount range

251–500 employees

Short description

Forbright Bank (formerly Congressional Bank) is a digitally-focused community bank serving individual consumers nationwide through online savings and CD products and Washington D.C. metro customers through branches, while providing specialty commercial lending across asset, healthcare, real estate, and fund finance to middle-market companies.

Ownership category

akta.pro rank

Headquarters

HQ city

Chevy Chase

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Net Interest Income: Traditional banking revenue generated from the spread between interest earned on loans (asset finance, corporate finance, real estate finance, healthcare finance, lender finance, fund finance) and interest paid on deposits (savings accounts, CDs, money market accounts)
2. Credit Card Fees: Revenue generated from business credit card products, including interchange fees and annual fees, with cards issued in partnership with Elan Financial Services
3. Treasury Management Services: Fee-based services including ACH origination, wire transfers, remote deposit capture, fraud mitigation tools, and digital invoicing through Autobooks partnership
4. Asset Finance: Institutional lending platform providing equipment financing to middle-market companies with credit profiles ranging from B+ to investment grade

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels10 records

Core offering

Congressional Bank, operating as Forbright Bank, is a community and commercial bank that offers high-yield personal deposit products (Growth Savings and Growth CD), traditional branch banking, business checking/savings/credit cards, and a suite of specialized commercial lending products including asset, corporate, fund, healthcare, lender, and real estate finance. Banking services are delivered through a digital-first platform complemented by physical branches in the Washington D.C. metro area and a relationship-driven lending team serving middle-market companies nationwide.

Product overview

Forbright Bank (formerly Congressional Bank) operates as a digital-first bank with a platform-plus-branches model. The core offerings include Growth Savings (high-yield digital savings account) and Growth CD (Certificate of Deposit) for personal banking, alongside Business Checking, Business Savings, and Business Credit Cards for commercial customers. The lending division provides specialized financing through Asset Finance, Corporate Finance, Fund Finance, Healthcare Finance, Lender Finance, and Real Estate Finance products. Branch banking services are available in the Washington, D.C. metro area (Maryland and Virginia) for customers preferring in-person banking.

Differentiator

Problem solved

Functional benefit

Products and services

• Growth Savings A high-yield savings account offering competitive APY rates (up to 4.15% for new customers with promotional boost), 100% digital banking with no monthly fees and FDIC insurance, available online nationwide.
• Growth CD High-yield Certificate of Deposit with terms ranging from 9 to 60 months, offering fixed APY rates and 10-day best rate assurance to protect against rate increases. Available online nationwide with $1,000 minimum balance.
• Branch Banking Full-service branch banking serving customers in the Washington, D.C. metro area, including checking, money market, savings, retirement (IRA), and credit card products with in-person services, plus access to Zelle, ICS, and CDARS for deposit insurance.
• Business Checking Reliable, convenient checking accounts for businesses with treasury management services including ACH origination, wire transfers, and remote deposit capture.
• Business Savings Business savings, money market accounts, and certificates of deposit including Platinum Business Money Market and Bright Business Savings options, with tiered rates based on relationship balance.
• Business Credit Cards Business credit card options including low rate, cash back, or flexible rewards cards, issued through Elan Financial Services with 24/7 cardmember services and zero fraud liability protection.
• Asset Finance Institutional equipment financing platform acquiring and financing essential-use equipment assets for middle-market companies with B+ to investment grade credit profiles.
• Corporate Finance Customized corporate financing solutions for businesses and projects nationwide, delivered through a relationship-driven lending team.
• Fund Finance Specialized financing solutions for investment funds and their managers, leveraging deep capital markets expertise.
• Healthcare Finance Customized financing solutions for healthcare organizations and projects, addressing specialized healthcare real estate and equipment needs.
• Lender Finance Financing solutions for other lenders and financial institutions, providing capital and structured products to specialty finance partners.
• Real Estate Finance Comprehensive real estate financing solutions for commercial and residential projects, delivered through a dedicated national real estate team.

Quantifiable outcome

• Up to 4.15% APY on savings products vs. national average of approximately 0.45%
• +2 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• National Park FoundationcoreStrategic or Co-development PartnerForbright Bank is a proud official partner of the National Park Foundation, supporting their mission to expand protection of America's park lands and connect more people to the country's 400+ national parks. This partnership reflects the bank's commitment to environmental sustainability and building a brighter future.
• The Nature ConservancyminorStrategic or Co-development PartnerForbright Bank supports The Nature Conservancy as part of its environmental mission and sustainability efforts. The partnership contributes to conservation initiatives worldwide.
• American Red CrossminorStrategic or Co-development PartnerForbright Bank supports the American Red Cross as part of its community giving and social responsibility programs, contributing to disaster relief and humanitarian efforts.
• ZellecoreTechnology or IntegrationForbright Bank offers Zelle for branch banking customers in the Washington, D.C. metro area, providing a fast, safe, and easy way to send money to friends, family, and trusted individuals.
• IntraFi Cash Service (ICS) and CDARScoreTechnology or IntegrationForbright Bank offers IntraFi Cash Service (ICS) and CDARS (Certificate of Deposit Account Registry Service) for branch customers, providing multimillion-dollar deposit insurance through a network of banks for large deposits.
• Elan Financial ServicescoreOEM/ Whitelabel/ Licensing PartnerElan Financial Services provides business credit cards for Forbright Bank customers. Elan issues cards pursuant to separate licenses from Visa and Mastercard, provides zero fraud liability protection, and offers 24/7 cardmember services.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• American Express National Bank: AmEx's banking subsidiary offers high-yield savings accounts and CDs with strong brand recognition and competitive APYs. It is a direct comparable in the digital high-yield savings category.
• Ally Bank: Ally is a leading digital-first bank competing directly in the high-yield online savings and CD market with no monthly fees. It shares Forbright's nationwide digital deposit-gathering strategy and competes head-to-head on APY pricing and digital UX.
• Marcus by Goldman Sachs: Goldman Sachs' consumer banking arm offers high-yield online savings and CDs with no fees, competing directly with Forbright's Growth Savings and Growth CD. Both banks target digital-first, fee-averse savers nationwide.
• Discover Bank: Discover Bank is a direct online savings/CD competitor with competitive APYs and a large nationwide digital deposit base. It is one of the largest players Forbright benchmarks against on yield pricing.
• Synchrony Bank: Synchrony Bank is a major online high-yield savings and CD issuer with a money-market and CD-led deposit franchise. It competes directly with Forbright's Growth Savings and Growth CD on rate and digital onboarding.
• Newtek Business Services: Newtek is a specialty business lender serving SMBs with working capital, equipment financing, and SBA lending — directly comparable to Forbright's middle-market specialty lending verticals (asset finance, corporate finance, healthcare finance).

Broad incumbents

• Capital One: Capital One is a diversified national bank with competitive savings products, a major credit card franchise (relevant to Forbright's Elan-issued cards), and broad commercial banking. It competes broadly rather than in any one niche.

Regional players

• Atlantic Union Bank: Atlantic Union Bankshares is a Virginia/Maryland community and commercial bank that competes directly with Forbright in the DMV market for deposits, commercial lending, and treasury management — and was the prior employer of Forbright CRO Lisa Cuba.
• Eagle Bancorp (EagleBank): EagleBank is a Bethesda, MD-based community/commercial bank operating in the same DC metro footprint as Forbright, with comparable commercial lending and deposit products for businesses and professionals.
• Sandy Spring Bancorp: Sandy Spring Bank is a Maryland-based community and commercial bank serving the DC metro region with deposit, mortgage, and commercial lending products directly comparable to Forbright's branch banking franchise.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xtwitter.com/ForbrightBank
• Facebookfacebook.com/profile.php?id=61553693975485
• LinkedInlinkedin.com/company/congressional-bank
• Instagraminstagram.com/forbrightbank
• TikToktiktok.com/@forbrightbank

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles22 records

Funding overview

Funding rounds4 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Congressional Bank